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ASSIGNMENT AND ASSUMPTION OF
TENANT LEASE AND DEPOSITS
This ASSIGNMENT AND ASSUMPTION OF TENANT LEASE AND DEPOSITS
("Assignment") is made by and between THE SUCCESSOR AGENCY TO THE
REDEVELOPMENT AGENCY OF THE CITY OF ARCADIA, a California public body,
corporate and politic ("Assignor"); and (ii) Northeast Development Enterprises II, LLC
("Assignee"). The parties to this Assignment have executed this Assignment on the dates set forth
below next to their respective signatures or the signatures of their authorized representatives. This
Assignment shall become effective as of the Close of Escrow, as that term is defined in the
Purchase Agreement(defined below).
Recitals
A. Assignor, as Seller, and Assignee, as Buyer, entered into that certain Agreement of
Purchase and Sale and Joint Escrow Instructions last dated lb- 6- 201S ("Purchase
Agreement")in which Assignor agreed to sell and convey to Assignee all of Assignor's right,title
and interest in and to certain real property commonly described as 33 W. Huntington Drive, APN
No. 5775-025-901, located in the City of Arcadia ("City"), County of Los Angeles, State of
California, more particularly described in Exhibit 1 attached to this Assignment and incorporated
into this Assignment by this reference ("Property"). All initially-capitalized terms, including,
without limitation, the term "Close of Escrow", used in this Assignment as defined terms shall
have the same meaning ascribed to them in the Purchase Agreement,unless otherwise provided in
this Assignment.
B. Assignor represents to Assignee that Assignor previously entered into certain rental
agreements/leases affecting the Property (collectively, "Tenant Lease") more particularly
described in Exhibit 2 attached to this Assignment and incorporated into this Assignment by this
reference. Assignor has accepted and retained security deposits and/or prepaid rent (collectively,
"Tenant Deposits") from tenants under the Tenant Lease in the amounts set forth in Exhibit 2.
C. Pursuant to the Purchase Agreement, as of Close of Escrow, Assignor has agreed
to assign to Assignee all right,title, and interest of Assignor in the Tenant Lease and the remaining
Tenant Deposits,and Assignee has agreed to assume all of Assignor's obligations under the Tenant
Lease accruing after the Close of Escrow.
For good and valuable consideration received, Assignee and Assignor agree as follows:
1. Assignment. As of Close of Escrow,Assignor assigns all of Assignor's right, title,
and interest in the Tenant Lease and the remaining Tenant Deposits to Assignee. Assignee reserves
all rights to terminate the Tenant Lease pursuant to California Code of Civil Procedure Sections
1265.110 et seq.
2. Notice to Tenants. Following the execution, conveyance and recordation of the
Grant Deed pursuant to the Purchase Agreement,Assignee,without waiving any rights it may have
under California Code of Civil Procedure Sections 1265.110 et seq., shall give notice to the tenants
under the Tenant Leases that Assignee has acquired Assignor's right,title and interest in the Tenant
Leases.
3. Assumption. The Assignee assumes all of Assignor's obligations, duties,
responsibilities, and liabilities under the Tenant Lease accruing after the Close of Escrow.
4. Assignor's Covenants. Assignor represents, warrants and covenants to Assignee
that: (i) the Tenant Lease is in full force and effect; (ii) there are no known defaults of Assignor
under the Tenant Lease; and (iii) no known acts or events have occurred which with the passing
of time or the giving of notice, or both, could later become defaults of Assignor or any of the
Tenants under the Tenant Lease.
5. Indemnity. Assignor shall indemnify,protect,defend and hold harmless Assignee,
and Assignee's successors and assigns of interest in the Tenant Lease, from and against any loss,
cost or expense, including attorneys' fees and court costs, relating to the Tenant Lease based on
events occurring on or before the Close of Escrow. Assignee shall indemnify, protect, defend and
hold harmless Assignor from and against any loss, cost or expense, including attorneys' fees and
court costs, relating to the Tenant Lease based on events occurring after the Close of Escrow.
6. Successors. This Assignment shall be binding on and inure to the benefit of
Assignor and Assignee and their successors and assigns.
7. Severability. If any term or provision of this Assignment shall be held invalid or
unenforceable,the remainder of this Assignment shall not be affected.
8. Waivers. No waiver or breach of any covenant or provision of this Assignment by
Assignor or Assignee shall be deemed a waiver of any other covenant or provision by Assignor or
Assignee, and no waiver shall be valid unless in writing and executed by the waiving party.
9. Construction. Headings of sections in this Assignment are solely for convenience
of reference of Assignor and Assignee, are not a part of this Assignment, and shall not be used to
interpret this Assignment. The singular form shall include plural and vice versa. This Assignment
shall not be construed as if it had been prepared by one of the parties, but rather as if both parties
have prepared it. Unless otherwise indicated, all references to sections in this Agreement are to
this Assignment.
10. Counterparts. This Assignment may be executed in one or more counterparts,
each of which shall be deemed an original and all of which taken together shall constitute one and
the same instrument.
11. Amendment. This Assignment may not be amended or altered except by a written
instrument executed by all of the parties to this Assignment.
12. Further Assurances. Whenever requested to do so by the other party, each party
shall execute, acknowledge, and deliver any further conveyances, assignments, confirmations,
satisfactions, releases, powers of attorney, instruments of further assurance, approvals, consents,
and any further instruments or documents that are reasonably necessary, expedient, or proper to
complete any conveyances,transfers, sales, and assignments contemplated by this Assignment. In
addition, each party shall do any other reasonable acts and execute, acknowledge, and deliver any
reasonably requested documents in order to carry out the intent and purpose of this Assignment.
13. Third-Party Rights. Nothing in this Assignment, express or implied, is intended
to confer upon any person,other than the parties to this Assignment and their respective successors
and assigns, any rights or remedies.
14. Legal Fees. In the event of the bringing of any action or proceeding to enforce or
construe any of the provisions of this Assignment, the prevailing party in such action or
proceedings, whether by final judgment or out of court settlement, shall be entitled to have and
recover of and from the other party all costs and expenses of suit, including actual attorney fees.
15. Governing Law. This Assignment shall be governed and construed in accordance
with California law.
16. Effective Date. This Assignment shall become effective as of the date of Close of
Escrow pursuant to the Purchase Agreement.
IN WITNESS WHEREOF, Assignor and Assignee have executed this Assignment as of
the date(s) set forth below next to their respective signatures or the signatures of their authorized
representatives,below.
[Signatures on the following pages]
SIGNATURE PAGE TO
ASSIGNMENT AND ASSUMPTION OF
TENANT LEASE AND SECURITY DEPOSITS
ASSIGNS .
Date: 0 ` � _ t � By:
_ c
ASSIGNOR:
THE SUCCESSOR AGENCY TO THE
REDEVELOPMENT AGENCY OF THE
CITY OF ARCADIA,
a California public body corporate and
politic
Date: 5X0BAsz. l L 2dI8 By: �,��
Do azzary
City Manager
ATTEST:
• iry Secretar
APPROVED AS TO FORM:
BEST, BEST& KRIEGER LLP
By: 3t7T
Successor Agency Counsel
24347.00801\30654673.4
EXHIBIT 1 TO
ASSIGNMENT AND ASSUMPTION OF
TENANT LEASE AND DEPOSIT
Legal Description of Property
PARCEL 1:
THAT PORTION OF LOT 3 OF TRACT NO. 949, IN THE CITY OF ARCADIA, COUNTY OF LOS
ANGELES,STATE OF CALIFORNIA,AS PER MAP RECORDED IN BOOK 17 PAGE 13 OF MAPS,IN
THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY,DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT IN THE SOUTHERLY LINE OF SAID LOT 3, DISTANT 402.20 FEET
WEST,FROM THE SOUTHEAST CORNER OF SAID LOT 3;THENCE
NORTH PARALLEL WITH THE EASTERLY LINE OF SAID LOT 3, A DISTANCE OF 305 FEET
TO THE MOST SOUTHERLY LINE OF LOT 9 OF TRACT NO.L 3768,AS PER MAP RECORDED IN
BOOK 273 PAGE 37 OF MAPS,IN SAID RECORDERS OFFICE; THENCE WEST ALONG SAID
MOST SOUTHERLY LINE TO THE SOUTHEASTERLY LINE OF MORLAN PLACE(60.00 FEET)
AS SHOWN AND DEDICATED ON SAID TRACT NO. 13768;THENCE SOUTHWESTERLY ALONG
SAID MORLAN PLACE TO THE NORTHEAST CORNER OF THE LAND AS DESCRIBED IN THE
DEED TO F.W. JONAS AND ADELE S. JONAS, RECORDED SEPTEMBER 21,1956 AS
INSTRUMENT NO. 1442, OF OFFICIAL RECORDS OF SAID COUNTY; THENCE SOUTHERLY
ALONG THE EASTERLY LINE OF SAID DEED TO F.W. JONAS AND ADELE S. JONAS AND
ITS PRO LONGATION THEREOF TO THE SOUTHERLY LINE OF SAID LOT 3; THENCE EAST
ALONG SAID SOUTHERLY LINE TO THE POINT OF BEGINNING. EXCEPT THEREFROM THE
INTEREST OF THE CITY OF ARCADIA, IN THE SOUTHERLY 20.00 FEET OF SAID LAND
WHICH WAS CONVEYED TO SAID CITY OF ROAD PURPOSES BY DEED RECORDED IN BOOK
24642 PAGE 220 OF OFFICIAL RECORDS OF SAID COUNTY.
PARCEL 2:
THAT PORTION OF LOT 9 OF TRACT NO. 13768, IN THE CITY OF ARCADIA, COUNTY OF
LOS ANGELES, STATE OF CALIFORNIA,AS PER MAP RECORDED IN BOOK 273 PAGES 37 AND
38 OF MAPS,IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY,AS BOUNDED BY
THE FOLLOWING DESCRIBED LINES:
BEGINNING AT THE MOST WESTERLY CORNER OF LOT 9 OF SAID TRACT NO. 13768;THENCE
EAST ALONG THE SOUTH LINE OF SAID LOT 9, A DISTANCE OF 48.38 FEET MORE OR LESS,
TO THE WEST LINE OF THE EAST 402.2 FEET OF LOT 3 OF TRACT NO. 949, IN THE CITY OF
ARCADIA, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA,AS PER MAP RECORDED IN
BOOK 17 PAGE 13 OF MAPS,IN THE OFFICE OF THE COUNTY RECORDER; THENCE NORTH
ALONG THE NORTH PROLONGATION OF SAID WEST LINE A DISTANCE 20.21 FEET TO
THE SOUTHERLY LINE OF MORLAN PLACE,60 FEET WIDE,AS SHOWN ON SAID TRACT NO.
13768; THENCE SOUTHERLY AND WESTERLY ALONG THE SOUTHERLY LINE OF SAID
MORLAN PLACE A DISTANCE OF 52.47 FEET TO THE POINT OF BEGINNING.
24347.00801\30654673.4
EXHIBIT 2 TO
ASSIGNMENT AND ASSUMPTION OF
TENANT LEASE AND DEPOSITS
Tenant Lease and Tenant Deposits
NAME OF TENANT: New Cingular Wireless PCS,LLC
MAILING ADDRESS: P.O. Box 97061,Redmond,CA 98073
PROPERTY ADDRESS: 33-35 W.Huntington Drive
APPROXIMATE TOTAL
OF SQUARE FOOTAGE: 400 SF
DEPOSITS: SECURITY: $0 OTHER: $0
RENT: RATE PER MONTH: $2,318.54/month
DUE ON 1 s'DAY OF EACH MONTH
PAID THROUGH
(but not including): November 1,2018
EXPENSES:
PAID BY LANDLORD: $0
PAID BY TENANT: $0
DELINQUENCIES: AMOUNT: $0
FOR: n/a
NAME OF LEASE/
RENTAL AGREEMENT: First Amendment to Building and Roof Space Lease
DATE OF LEASE/
RENTAL AGREEMENT: June 17, 2013
NAME OF TENANT: Self-Storage Tenant Rent Roll&America West Property
Management Contract
MAILING ADDRESS:
PROPERTY ADDRESS: 33-35 W.Huntington Drive
Refer to Exhibit A for List of Self-Storage Tenant Rents,
Deposits,and Square Footages
Refer to Exhibit B for America West Property Management
Contract
EXHIBIT "A"
TO
EXHIBIT 2 TO
ASSIGNMENT AND ASSUMPTION OF
TENANT LEASE AND DEPOSITS
[To be attached following this cover page]
Arcadia Self Storage Sat,. ar
Tenant Rent Roll 10/20/1B
Arcadia Self Storage Page '
Tenant Unit Move :n B Security Montrily Pd lnru LC Account Fees - Rent Aging---- - 1
Name Number Date C Deposit Rent Date Status Balance Owed Current 31-60 Over 611
JENSEN, LANDON 201 12/31/15 0.00 75.00 10/30/18 0.00
FUCILLO, JOSEPH 203 05/21/13 0.00 51.00 10/20/18 0.00
TIRA.DO, BOB 204 01/26/18 0.00 60.00 10/25/18 0.00
DENTAL SERV.FRONTI 209 11/20/95 8 15.00 74.00 11/19/18 0.00
SUAREZ, CHARLIE 211 03/18/11 0.00 90.00 11/17/18 0.00
SUEN 212, KEITH 212 04/09/05 15.00 /8.00 11/08/18 0.00
SHIMMIN, LEE 2t3 03/23/16 0.00 105.00 10/22/18 0.00
JONG, MARGARET 214 05/15/94 15.00 /4.00 11/1,4/18 0.00
WILLIAMS, PHILIP 215 02/25/15 0.00 90.00 10/24/18 0.00
KOEPPEI ,M.D., JOHN 216 10/01/08 15.00 78.00 10/31/18 0.00
MCCARTHY, JANINE 217 03/05/15 0.00 90.00 10/04/18 1 100.00 10.00 90.00
HORWITZ, STEVEN 218 08/27/17 0.00 105.00 10/26/18 0.00
KOEPPEL,M.D., JOHN 219 10/01/08 0.00 78.00 10/31/18 0.00
HALL, JEFF R 220 01/31/15 0.00 125.00 10/30/18 0.00
BJERRUM, RICH 221 '0/01/08 B 15.00 108.00 10/31/18 0.00
REYNOLDS, KAREN 222 12/01/98 110.00 109.00 10/31/18 0.00
HULL, ROBERT 223 03/08/11 0.00 76.00 11/07/18 0.00
ARNDT, TOM 224 05/31/06 B 25.00 70.00 10/30/18 0.00
AVILA, TIM 227 09/13/10 B 0.00 126.00 10/12/18 126.00 125.00
MITCHELL, ERNEST H 228 03/22/02 15.00 72.00 07/25/18 3 256.000 50.00 72.00 72.00 62.00
09/14/18 Liened
SIMONSEN, ERIC 230 01/21/13 0.00 126.00 10/20/18 0.00
INTERNATIONAL CO., 231 03/16/15 0.00 108.00 01/15/19 216.00CR
• JAMES, JARED F. 232 11/28/16 0.00 105.00 10/27/18 0.00
CANO, ABBY 2.33 05/13/18 B 0.00 166.00 11/12/18 0.00
SATYAPAN, JENKIJ 234 04/13/13 0.00 15.00 11/12/18 0.00
MORA, NANETTE 235 12/15/16 0.00 95.00 10/14/18 95.00 95.00
IRAN, THAO 236 0.3/18/15 0.00 51.00 10/17/18 51.00 5'.00
WONG, LYDIA JUNE 237 09/30/17 0.00 60.00 10/29/18 0.00
DAVILA, WILLIAM 238 03/26/11 B 0.00 25.00 10/25/18 0.00
NORIEGA-MOORE, DEB 239 09/04/18 0.00 60.00 11/03/18 0.00
GIBSON, LINDA 241 01/15/14 0.03 51.00 11/14/18 0.00
CHEMICAL CORP, APA 242 12/09/09 15.00 87.00 11/08/18 0.00
SAMANIEGO, MARLENE 243 02/23/15 0.00 144.00 10/22/18 0.00
JOYCE, THEODORE M. 244 10/01/08 8 15.00 78.00 10/31/18 0.00
HORTA, CARLOS 245 01/03/18 0.00 125.00 11/02/18 0.00
STEIN, BEVERLY 246 09/06/06 B 25.00 107.00 11/05/18 0.00
GONZALEZ EXCHANGE 247 02/02/15 0.00 90.00 11/(11/18 0.03
KURNIAWAN, RUDY 249 12/11/03 15.00 102.00 11/16/18 0.00
ANDERSON, KATHLEEN 250 02/06/16 0.00 95.00 11/05/18 0.00
YAMAOKA, RON 252 03/10/16 0.00 133.00 11/09/18 0.00
VILLANUEVA, MARK 253 10/25/.4 0.00 76.00 10/24/18 0.00
SOLIMAN, M.D., MIC 254 08/15/96 B 15.00 73.00 10/14/18 73.00 73.00
VENTURA, EFRAIN 256 07/27/17 0.00 85.00 10/26/18 0.0C
AHUMADA, MARIA 257 09/20/18 0.00 85.00 10/19/18 85.00 85.00
MILES, SUSAN 258 07/25/14 0.00 76.00 10/24/18 0.00
STEVER, RICK 259 10/09/91 hi 15.00 62.00 12/08/18 62.0008
QuON, DONALD 260 (17/01/93 3 15.00 62.00 12/31/18 124.0008
;ena-i: 4ent Roll Cu ti„ued On Next page .
Arcad'a Self Storage Sa:-.:rda.
Tenant Rent. Roll 10/20/•9
Arcadia Self Storage Face 2
Tenant Unit Move-In B Security Monthly Pd Thru LC Account Fees I Rett Aging--
Name Number Date C Deposit Rent Date Status Balance Owed Current 31-60 Ove' 611
LIE, EUNICE 261 10/31/1 ; 0.00 70.00 10/30/18 0.00
DOBROVODSKY, PAUL 262 01/03/11 B 0.00 72.00 11/02/18 0.00
DOBROVODSKY, PAUL 263 08/03/04 B 15.00 72.00 11/02/18 0.00
KORULA, JACOB 265 08/17/14 0.00 76.00 11/16/18 0.00
LIN, BRANDON 266 05/04/16 B 0.00 88.00 11/03/18 0.00
DELGADO RENDON, AN 269 09/14/17 0.03 88.00 10/13/18 88.00 88.00
ETTER, JACKSON 270 • 03/29/92 B 15.00 • 62.00 10/28/18 0.00
HAUGEN, KRISIINE 271 07/13/18 0.00 88.00 11/12/18 0.00
DANIELS, SANDERS 274 08/01/18 0,00 125.00 10/31/18 0.00
C/0 CAROL G. LIBBY 275 10/01/08 0.00 0.00 10/31/08 0.00
NEUMANN, FRANK A 276 12/03/98 B 15.00 82.00 11/02/18 0.00
CHIRIKIAN, DAVID 277 08/11/15 0.00 125.00 11/10/18 0.0C
TEIXEIRA, BONNIE 278 01/29/00 0.00 109.00 10/28/18 0.00
RAUSCHER, BRETT 279 09/05/18 0.00 166.00 11/04/18 0.00
CURTIS, JOHN AND C 281 07/18/88 r 15.00 109.0G 11/18/18 0.00
DATATECH CORP, DAI 282 01/19/11 0.00 144.00 11/18/18 0.00
KORULA, JACOB 283 05/03/01 15.00 109.00 11/02/18 0.00
ROMO, SHELLY 284 07/06/02 B 15.00 114.00 01/05/19 228.000R
BROWN, LEANDA 285 08/12/16 B0.00 156.00 11/11/18 0.00
CLARY, PAUL. 286 09/21/12 0.00 144.00 10/20/18 0.0C
PEREZ, CARLOS 288 11/27/16 3 0.00 166.00 09/26/18 1 176.00 10.00 106.00
WONG, LYDIA JUNE 289 09/30/17 0.00 90.00 10/29/18 0.0C
CANC, ABBY 291 07/12/17 8 0.00 99.00 11/11/18 0.0C
ROM, PATRICIA 300 B 05/24/10 0.00 58.00 10/23/18 0.0C
GAISER, STEVEN 300-C 04/24/16 0.00 69.011 10/23/18 0.00
C/0 CAROL G. LIBBY 300-0 10/01/08 0.00 0.00 10/31/08 0.00
WONG, LYDIA JUNE 301 01/30/17 0.00 72.00 10/79/18 0.00
;_AACHFOUBI, KARIM 303 08/07/15 B 0.00 72.00 , 10/22/18 36.00 36.01)
SALAZAR, ANGEL 304 06/17/17 0.00 60.00 11/16/18 0.00
SAINT, CHUCK 305 06/19/14 0.00 54.00 11/18/18 0.00
ANDREWS, JANET 306 08/27/15 5 0.00 144.00 10/26/18 0.00
WIGHTMAN, CHARLOII 301 08/08/18 0.00 69.00 11/07/18 0.00
CANO, ABBY 308 07/15/15 B 0.00 155.00 11/25/18 58.18CR
HELMS, HANRAHAN & 309 11/01/08 B 15,00 99.00 10/31/18 0.00
KAMIN, GEORGE 310 04/11/14 B 0.00 120.00 10/10/18 120.00 120.00
STEVER, RICK 311 02/17/94 5 15.00 109.00 11/16/18 0.00
KONE, JOHN R 314 12/28/99 15.00 =.09.00 10/27/18 0.00
WORTMAN, RICHARD 315 10/28/01 15.00 87.00 10/27/18 0.00
FUENTES. JOSEPH PA 316 01/14/10 0.00 87.00 11/13/18 0.00
C/O CAROL G. LIBBY 311 10/01/08 0.00 0.00 10/31/08 0.00
WICHERI, DOUGLAS 318 08/29/14 0.00 108.00 10/28/18 0.00
GLAZE, MARI 319 12/19/04 B 15.00 87.00 11/18/18 0.00
KUR1Z, HAROLD 320 12/09/99 15.00 82.00 11/08/18 0.00
HOFFMAN, GLORIA A 321 11/25/99 B 15.00 62.00 12/24/18 124.00CR
JONES, BRUCE 323 10/02/15 0.00 105.00 12/01/18 105.00CR
C/0 CAROL G. LIBBY 324 10/01/28 0.00 0.00 10/31/08 0.00
JONES, BRUCE, 325 10/02/15 C.00 105.00 12/01/18 105.00CR
JONES, BRUCE 327 10/30/92 15.00 79.00 11/29/18 79.0008
lenas,t. Rent Rcll Co?.inuec Or Next Page
Arcadia Self Storage SaLurda
Tenant Rent Roll 10/20/'8
Arcadia Self- Storage Gage 1-
Tenant
Tenant Unit Move in B Security Mont.hiy Pd ?tiro LC Account Fees I------Rent Aging
Name Number Date C Deposit Rent Date Status Balance Owen Cr-'exit 31-60 Over r'
FORMAN, LYNN 328 07/02/02 15.00 87.00 11/01/18 0.00
VU, PHIL 329 03/07/15 0.00 108.30 11/06/18 0.00
WILSON, DARNEL 331 07/10/18 0.00 125.00 11/09/18 0.00
LOTZ, JEFFRY 332 04/01/13 0.00 60.00 10/31/18 0.00
FU, ARLENE 333 09/26/16 B 0.00 60.00 10/25/18 0.00
DOLAN, JOHN 335 05/16/15 0.00 51.00 11/15/18 0.00
WORTMAN, RICHARD 336 06/10/18 C.00 60.00 11/09/18 0.00
EARHART, AMELIA 338 05/06/94 15.00 51.00 11/05/18 0.00
GUERRERO, VICTORIA 339 04/01/06 25,00 56.00 10/31/18 0.00
ABRIOL, 1ANYA/JOSE 340 04/29/11 B 0.0C 66.00 10/28/18 0.00
CIACCIO, LISA 341 07/05/15 B 0.00 75.00 11/04/18 0.00
WIJAYA, LIZA 345 10/15/15 0.00 95.00 11/14/18 0.00
GREY, GRAYDON 346 07/24/93 15.00 51.00 10/23/18 0.00
HARDY, ASIA 35C 06/12/'" 0.00 60.00 10/11/18 70.00 10.00 60.00
ARC.H.S.BAND/KEVIN 352 10/30/08 0.00 0.00 11/29/08 0.00
FRUCTUOSO, TERESA 355 02/27/98 15.00 69.00 10/26/18 C.00
ROYER, JOANNE 356 06/29/16 0 0.00 60.00 10/28/18 0.00
LEONI, JOSEPH 359 10/18/13 0.00 51.00 11/17/18 0.00
CLARKE, MARY ANN 350 05/19/16 0.00 72.00 11/18/18 0.00
CANO, ABBY 361 09/07/16 B 0.00 95.00 11/06/18 0.00
MARION, LAURA 363 02/18/05 B 15.00 87.00 03/17/19 348.0008
PALACIOS, RICHARD 364 08/31/18 0.00 85.00 10/30/18 0.00
TAROY, MOSES 366 08/24/15 0.00 60.00 08/23/17 3 890.00 50.00 60.00 50.00 /20.06
10/13/17 Liened
MERLO, GENA 3b8 02/111133 0.00 76.00 11/16/18 0.00
DUBOIS•-FELSMANN, G 369 02/08/92 8 15.00 65.00 12/07/18 65.0008
ADAMS, BOB 370 03/14/15 0.30 76.00 11/13/18 0.00
PEPE, ROBERT 372 01/17/18 0,00 85.00 11/16/18 0.00
ADAMS, BOB 374 03/30/15 0,00 87.00 10/29/18 0.00
SOWELL, JOHN 375 09/15/05 25.00 82.00 10/14/18 82.00 82.00
TOMLIN, SUSANNAH 376 03/16/14 0.00 101.00 11/15/18 0.00
DUBOIS-FELSMANN, G 377 01/31/9/ B 15.00 58.00 11/30/18 58.00CR
LOPEZ, SANDY 378 02/19/12 B 0.00 87.00 10/18/1/ 3 1181.00 50.00 87.00 97.00 951.
12/08/17 Liened
KAMIN, GEORGE 380 03/1 /14 B 0.00 83.00 11/10/18 0.00
KAMIN, GEORGE 381 113/11/14 8 0.00 83.00 11/10/18 0.00
MOLONEY, NANCY 382 11/13/93 15.00 82.00 11/12/18 0.00
GORDON, M.D.. t . S 383 1C/01/08 0.00 75.00 10/31/18 0.00
ARC.H.S.BAND/KE.ViN 384 10/30/08 0.00 0.00 11/29/08 0.00
ANDERSON, KEITH 385 10/01/08 B 15.00 63.00 10/31/18 0.00
ANDERSON, KEITH 386 10/01/08 B 0.00 63.00 10/31/18 0.00
MOLONEY, NANCY 387 04/23/114 B 15.00 87.00 11/22/18 87.0008
NEUMANN, FRANK A 391 12/11/98 B 15.00 87.00 11/10/18 0.00
ALEXANDER, JESSICA. 392 04/02/16 0 0.00 125.00 11/01/18 0.00
MITCHELL, KEVIN 393 03/01/03 0 15.00 87.00 09/27/18 3 153.00 40.00 87.00 26.00
08/24/18 Liened
GORDON, M.D., L. S 394 10/01%08 0.00 75.00 10/31/18 0.00
BHUVA, RAJIV 395 0.5/11/11 r 0.00 75.00 11/10/18 0.00
Tenart Rent. Roll C: in,ec On Next Page '.
Arcadia Self Storage Saturra,
Tenant Rent Roll 10/20/19
Arcadia Self Storage Page 4
Tenant Unit Move-In B Security Monthly Pd Thru LC Account Fees I--- - --Rent Aging - ----
Name Number Date C Deposit Rent Date Status Balance Owen Current 31 60 Over 61
'JACOBS, DAVID I 396 02/20/05 102.00 87.00 11/19/18 0.00
THOMPSON, JEAN 397 12/28/12 8 0.00 76.00 10/27/18 0.00
CONTRERAS, ENRIQUE 398 04/01/1/ 25.00 85.00 10/31/18 0.00
TITCOMB, BENJAMIN 399 08/28/18 0.00 85.00 10/27/18 0.00
BAUCHIERO, LORRAIN 400 10/01/08 B 15.00 59.00 09/30/18 1 69.00 10.00 59.00
BANSKOTA, M.D., NI 401 08/15/96 15.00 59.00 11/14/18 0.00
AGUILAR, RODRIGO 403 01/23/17 0.00 65.00 10/22/18 0.00
TAMADA, THEODORE ( 405 01/02/16 0.00 195.00 12/01/18 195.00CR
AT&T WIRELESS SERV 413 06/01/93 0.00 2318.55 10/03/18 1 2175.96 60.00 2115.96
DOCHERTY, MICHELE 415 10/04/16 G.00 105.00 11/03/18 0.00
ARCADIA, HISTORICA 420 02/15/13 0.00 0.00 02/14/13 0.00
ZIMMER, MARIANNE 421 07/14/12 0.00 114.00 11/13/18 0.00
CALDERON, HECTOR 422 06/14/04 15.00 114.00 11/13/18 0.00
HAIAT, JAMEEL 424 07/09/16 0.00 85.00 11/08/18 0.00
CANO, ABBY 425 05/09/16 E 0.00 132.00 11/08/18 0.00
WAKEN, JOAN 427 ;2/13/04 B 15.00 108.00 11/12/18 0.00
KOEPPEL,M.D., JOHN 428 01/26/06 25.00 85.00 10/25/18 0.00
MIRASOL, RAFAEL 429 03/15/15 0.00 90.00 11/14/18 0.00
BROWN, CAROLYN 431 06/04/16 0.00 115.00 11/03/18 0.00
SUING, JAN 432 05/31/01 15.00 78.00 10/30/18 0.00
KAMIN, GEORGE 433 09/12/14 8 0.00 135.00 10/11/18 135.00 135.00
MERCEDES/BENZ, RUS 434 11/03/15 0.30 0.00 11/02/15 0.00
ZIMMER, REBECCA 435 02/01/15 0.00 95.00 10/31/18 0.00
JULIANO, ASHLEY 437 02/08/16 0.00 60.00 11/07/18 0.00
ZACH, SALLY 440 12/09/16 0.00 60.00 11/08/18 0.00
TAPIA, ALEJANDRO 441 09/27/15 8 3.03 60.00 11/26/18 60.0008
ZIMMER, ROBERT 442 10/01/08 8 15,00 81.00 10/31/18 0.00
DOUGLAS, NATALIA 443 05/01/06 15.00 114.00 10/31/18 0.00
REYES, ROBERTA 444 09/05/977 B 15.00 78.00 11/07/18 0.00
ZIMMER, ROBERT 447 10/01/08 5 0.00 18.00 10/31/18 11.00
SANTIANI, WALTER 449 11/09/05 15.00 102.00 11/06/18 0.00
ZIMMER, ROBERT 451 08/01/12 3 0.00 78.00 10/31/18 0.00
CHAPMAM ATTY. AT L 454 01/12/96 B 15.00 65.00 10/11/18 65.00 55.00
WINESBURG, DIANE 455 07/18/94 B 1,5.00 65.00 11/17/18 0.00
& ASSOCIATE, BERAN 458 06/01/06 6 25.00 70.00 01/31/19 210.0008
MOSES C/0 STEPHEN 459 02/18/0' 6 15.00 65.00 10/17/18 65.00 65.00
HURRELL, TOM 460 06/25/05 B 25.00 65.00 10/20/18 10.00 '0.00
ORTIZ, LEONARDO 461 12/24'1 . 0.00 58.00 09/25/18 1 64.00 '0.00 5' .0P
CANO, ABBY 462 07/07!11 3 0.00 69.00 11/06/18 0.00
HERNANDEZ, ROY 463 06/15/15 0.00 85.00 11/14/18 0.00
COOK, DIANE 465 07/0/1 ! 0,00 71.00 10/31/18 0.00
WELCH, BEVERLY 468 09/28116 0.00 85.30 10/21/18 0.00
MITCHELL, KEVIN 469 09/25/02 8 15.00 65.00 10/06/18 1 80.00 40.00 40.00
KESSLER, KENNETH 4/0 11/18/17 0,00 85.00 11/17/18 0.00
HALLMAN, KIM 471 08/21/10 60.00 60.00 10/20/18 0.00
HO, LAI YUNG 472 07/13/05 25.00 65.00 11/12/18 0.00
KNIGHT, DAVID 473 03/ 6/18 0.00 75.00 11/15/18 0.00
KNIGHT, DAVID 476 03/16'11 0.00 85.00 11/15/18 0.00
Tenant 'ent Roll Coltinuea On Next Page
Arcadia Self Storage Sa:,.rria!,
Tenant Rent Rol 10/2ti'
Arcadia Self Storage Pr:ge
Tenant Unit. Move-'r B Security Monthly Pd ihru LC Account fees Reit Aging ---- ,
Name Number Date C Deposit Rent Date Status Balance Owed Current. 31-60 0.!e+ 6(
MERCEDES/BENZ, RJS 479 08/27/15 0.00 0.00 08/26/15 0.00
MARION, LAURA 480 02/18/05 B 15.00 87.00 03/17/19 348.00CR
WELCH, BEVERLY 481 09/23/16 0.00 125.00 10/22/18 0.00
MITCHELL, KEVIN 482 09/23/02 15.00 114.00 07/25/18 3 382.00 50.00 114.00 114.00 104.0(
09/14/18 Liened
ARCADIA, PUBLIC LI 483 02/15/13 0.00 0.00 02/14/13 0.00
KAMIN, GEORGE 484 01/11/14 B 166.00 83.00 11/10/18 0.00
KAMIN, GEORGE 485 01/11/14 8 83.00 83.00 11/10/18 0.00
KAMIN, GEORGE 486 01/1I/11. B 0.00 83.00 11/10/18 0.00
HANSON, KARIN 487 05/1.3/06, 8 25.00 115.00 12/12/18 115.0008
MERCEDES/BENZ, RJS 488 08/27/15 0,00 0.00 08/26/15 0.00
HILL, ROLAND 489 12/11/04 15.00 114.00 11/10/18 0.00
HEFFERNAN, JOHN 490 10/14/13 B 0.00 144.00 10/13/18 144.00 144.00
LIN, CHI 491 06/17/01 15.00 114.00 11/16/18 0.00
ANDREWS, JANET 492 10/05/16 0.00 166.00 11/04/18 0.00
SMITH, JONATHAN CA 493 04/04/15 (1,60 76.00 11/03/18 0.00
10TALS: 203 Tenants 1596.03 19202.55 4184.78 390.00 4179.96 359.101 1843.C1
End Of lenalt Rent. Roll
EXHIBIT "B"
TO
EXHIBIT 2 TO
ASSIGNMENT AND ASSUMPTION OF
TENANT LEASE AND DEPOSITS
MANAGEMENT AGREEMENT
THIS AGREEMENT is made as of the rd.day of October, 2006 by and between the
REDEVELOPMENT AGENCY OF THE CITY OF ARCADIA, a public agency, whose
principal address is 240 W. Huntington Drive, Arcadia, California 91007 (hereinafter referred to
as `1Citv") and BRAUN PROPERTY MANAGEMENT, a California corporation, doing business
as America West Management, whose principal address is 5901 Encina Rd., Suite C-5, Goleta,
California 93117 (hereinafter referred to as `Manager").
RECITALS
(a) City is the owner of a self service storage facility commonly known as "Arcadia
Self Storage" and located in the City of Arcadia at 35 W. Huntington Drive
(`Facility"). The business conducted at the Facility includes the rental of storage
units and the provision of related products and services in the same scope and
manner as of the Effective Date of this Agreement(`Business").
(b) Manager is the former operator of the Business and has significant knowledge and
experience in the management and operation of all aspects thereof.
(c) City desires to engage Manager as the operator of the Facility and manager of the
Business and Manager is willing to provide such services on the terms and
conditions set forth herein.
NOW THEREFORE, in consideration of the mutual promises and covenants herein
contained, the parties hereto agree for themselves and their respective successors and assigns, as
follows:
1. Purpose of Agreement. City hereby engages Manager as the operator of the
Facility and Manager of the Business and Manager agrees that it shall provide the services
described herein in a diligent and professional manner and shall use commercially reasonable
efforts to promote the Business and to operate it in an efficient and profitable manner, subject.to
the establishment of financial and operational goals and directives by City.
2. Responsibilities of Manager. Subject to the budgeting and approval rights of City
as set forth herein, Manager shall be responsible for providing the following services in
connection with the operation of the Facility and the management of the Business:
(a) Manager shall provide all staff necessary for the operation of the Facility,
which staff shall be under the sole and exclusive control of Manager and shall be employees of
Manager in accordance with Section 16. Manager shall be responsible for the hiring, training
supervision and termination of all such staff,
(b) Manager shall provide all services necessary for the management of the
Business, including without limitation, setting policies, rules and procedures for the leasing,
rental and termination of storage units, collecting deposits and rental payments regarding same,
RVBU&GPUICE\7036213 1
sale and stocking of any packing materials or other product inventory (if applicable), obtaining
liability and property insurance in commercially reasonable amounts acceptable to City and
keeping accurate books and records of the revenue and expenses of the Business;
(c) Manager shall provide and/or contract for all services necessary for the
operation of the Facility, including without limitation, janitorial and security services,
maintenance and cleaning of rental units and supervision of all necessary repairs to the Facility;
(d) Manager shall provide the financial reports set forth in Section 12; and
(e) Manager shall comply with the directives of City for the management and
operation of the Facility and the Business, provided that such directives shall be commercially
reasonable and in compliance with applicable law.
3. Operating Budget.
(a) Within ten (10) days following the Effective Date, Manager shall submit
an operating budget to City for its approval("Budget"). The Budget shall set forth in reasonable
detail Manager's estimate of(i) expected revenue from the operation of the Business based on
current expectations and historical performance, but adjusted to take into consideration City
directives concerning the scope of operation of the Business (such as the removal of certain
services or the retention of units in vacant condition); (ii) normal recurring expenses in the
operation of the Facility and the Business, including without limitation, staff salaries, benefits
and costs, supplies, liability and property insurance premiums, taxes and assessments (but only
after consulting City to determine if such taxes and assessments apply to City as a municipality),
utilities, advertising and necessary service providers such as security, maintenance or janitorial;
and (iii)provision for normal non-recurring expenses such as Facility maintenance and repair.
(b) Manager shall submit a new Budget no Iater than thirty (30) days prior to
each anniversary of the Effective Date (or at such interim times as may be necessary due to a
material change in the assumptions upon which the Budget is based) for approval by City.
Manager shall operate the Business and the Facility consistent with the Budget. Any non-
recurring item of expense in excess of$500 or recurring item of expense in excess of$1,000
annually which is not included in the current Budget shall inquire the pre-approval of City,
provided, however, that pre-approval of an item Shall not be necessary where the same is
immediately required by law, or under circumstances which Manager deems to be an emergency,
and City pre-approval cannot reasonably be obtained.
(c) Manager shall use its best efforts to manage cash flow such that revenue
from the operation of the Business will be sufficient to cover all Budgeted expenses and the
compensation of Manager set forth in Section 5 below, provided, however, that City shall
ultimately be responsible for all costs and expenses of operating the Business and Manager does
not guarantee the performance or profit projected in the Budget. In the event that working
capital is necessary for the operation of the Business, Manager shall make a written working
capital request, which request shall set forth the amount of funds requested together with a
supporting schedule showing the anticipated cash flow and revenue shortfall.
RVBUSGPRICE1103621.3 2
4. Authority of Manager. In accordance with carrying out the responsibilities of
Manager set forth in Section 2 above, the Manager is specifically authorized as follows:
(a) Manager is authorized to collect all rents, security deposits, and other
income generated from the Business in the name of City and to maintain an operating bank
account to which all rents and other income shall be deposited and from which all bills, expenses
and payments are to be made. Manager is authorized to retain rental and other income deposits
in the aforementioned operating account and to retain the security deposits in a separate Trustee
account;
(b) Manager is authorized, when necessary and in accordance with applicable
law, to effect the collection of delinquent accounts, to terminate or dispossess tenants from units
for non-payment or failure to adhere to rules and policies for the use of the Facility; transfer and
dispose of personal property from disposed tenants or which is abandoned and removal of
unauthorized persons from the Facility. Manager may employ counsel as directed by.City as a
budgetary expense or use City's designated counsel;
(c) Manager is authorized to make all necessary disbursement from the
operating account for all costs and expenses authorized in the Budget or otherwise pursuant to
Section 3(b) in the•administration and operation of the Facility and the Business. In the event
that any time there are insufficient funds available in the operating account to pay such expenses,
Manager shall immediately make a request for working capital pursuant to Section 3(c); and
(d) Manager is authorized to contract with service providers to provide
services which have been approved in the Budget or otherwise pursuant to Section 3(b),provided
however, that Manager shall not enter into any contract which is not terminable on thirty (30)
days written notice without the approval of City.
5. Compensation of Manager.
(a) In consideration of the obligations and services of Manager hereunder,
Manager shall be entitled to a monthly fee for the operation of the Facility and the management
of the Business which is equal to the greater of(i) six percent(6%)of the gross income collected
from the operation of the Business; or(ii) Fifteen Hundred Dollars ($1,500.00. Manager shall
have the right to deduct said fee from the operating account on or before the 15th of the following
month. If there are insufficient funds to pay the monthly fee from the operating account, then
City shall pay the shortfall within ten(10) days written notice from Manager;
(b) In addition to the monthly fee, Manager shall be entitled to $125.00 per
hour for(i)oversight of major rehabilitation projects, including,but not limited to, fire or natural
disaster restoration, major damage restoration, re-roofing, pest control tent fumigation, etc.,
provided, however, that any such project on which Manager shall be entitled to an hourly fee
shall be subject to the pre-approval of City; and (ii) any participation by Manager in Court
proceedings or for the preparation thereof as requested by counsel for City. Manager will
account for time through log entries presented to City along with monthly financial reports,
which entries shall be subject to review and approval by City. Following the receipt of approval,
Manager may disburse approved fees from the operating account.
RVBU9.GPRICE\7036213 3
(c) Except as set forth herein, Manager shall not be entitled to any
compensation for its services hereunder and shall not allocate any overhead or administrative
expenses to the Business unless expressly approved in the Budget.
10. Insurance. On City's behalf, Manager shall obtain and maintain public liability,
elevator, property insurance, and such other insurance as may be recommended by Manager and
approved by City, in such amounts and from such carriers as are approved by the City's risk
manager. All such policies shall name City as the primary insured, with Manager and its
subsidiaries and affiliates who are performing services under this Agreement as additional
insureds. The public liability, elevator, and property insurance must contain a severability of
interest clause and coverage for personal injury insurance. A certificate of each policy issued by
the carrier shall be delivered promptly to City by Manager. It is understood and agreed that with
respect to any insurance provided hereunder and whether covering City's or Manager's interest,
the City shall be responsible for the payment of all premiums thereon as part of the Budget. All
dividends or return premiums in connection with such insurance shall be paid to the City.
1 1. Indemnity.
(a) City shall indemnity, defend and hold harmless Manager from any
Damages(as defined below)arising(i) as a result of the breach of this Agreement by City;or(i)
in connection with the performance of Manager's duties and responsibilities hereunder with
respect to the Business or occurring at or upon the Facility or elsewhere when Manager is
carrying out the provisions of this Agreement or acting under the express or implied directions of
the City; except to the extent that such damages or injuries are the result of(x)the negligent acts,
omissions or willful misconduct of Manager, its agents or employees; or (y) due to Manager's
failure or refusal to comply with or abide by any rule, order determination, ordinance or law of
any Federal,State or Municipal Authority.
(b) Manager shall indemnity, defend and hold harmless City from any
Damages arising as a result of(i) Manager's breach of this Agreement; (ii) any action exceeding
the scope of Manager's authority under this Agreement; (iii) any and all taxes, labor claims and
liabilities associated with Manager's employees used in connection with the Business; and (iv)
the negligent acts, omissions or willful misconduct of Manager, its agents or employees, except
to the extent that such damages or injuries are the result of(x) acts or omissions were carried out
under the express instructions of City; or (y) due to City's failure or refusal to comply with or
abide by any rule,order determination, ordinance or law of any Federal or State Authority,
(c) Definition of Damages. The term "Damages" shall mean all liabilities,
demands, claims, actions or causes of action (including without limitation, actions for personal
injury, property damage and wrongful death) regulatory, legislative or judicial proceedings or
investigations, assessments, levies, taxes, losses, fines, penalties, damages, costs and expenses,
including, without limitation, reasonable attorneys', accountants', investigators', and experts'
fees and expenses sustained or incurred in connection with the defense or investigation of any
such liability.
RVBU9:GPRICE1703621.3 4
(d) Notice;Third Party Claims.
(1) Whenever any claim shall arise for indemnification under this
Paragraph 11, the party entitled to indemnification("indemnified party") shall promptly notify,
in writing, the other party or parties from whom indemnity may be sought under this Paragraph
11 ("indemnifying party"), of the claim and, when known, the facts constituting the basis for
such claim; provided, however, that the indemnified party's failure to give such notice shall not
affect any rights or remedies of such indemnified party hereunder with respect to indemnification
for Damages except to the extent that the indemnifying party is prejudiced thereby.
(2) In the event of any claim for indemnification hereunder resulting
from or in connection with any claim or legal proceeding by a third party, the notice to the
indemnifying party shall specify, if known, the amount or any estimate of the amount of the
liability arising therefrom. Neither the indemnified party nor any indemnifying party shall settle
or compromise any claim by a third party for which the indemnified party is entitled to
indemnification hereunder, without the prior written consent of the other party, unless suit shall
have been instituted against the indemnified party and the indemnifying party shall not have
taken control of such suit after notification thereof as provided hereinafter.
(3) Upon receipt of a claim, the indemnifying party shall promptly.
undertake the defense of the claim with counsel reasonably acceptable to the indemnified party.
At its own expense, the indemnified party shall have the right to participate in the defense with
counsel of its own choice. If the indemnified party has assumed the defense of any such claim or
legal proceeding on account of the indemnifying party's failure or refusal to prosecute such
claim or legal proceeding, then all costs and expenses incurred by the indemnified party in
connection with such assumption shall constitute Damages. Each party agrees to cooperate fully
with the other, such cooperation to include, without limitation, attendance at depositions and the
provision of relevant documents as may be reasonably requested by the ndemnifying party;
provided however, that the indemnifying party will hold the indemnified party harmless from all
of its expenses and costs,including attorneys' fees and costs, as and when incurred in connection
with such cooperation by the indemnified party.
12. Financial Reports. Manager shall deliver to City, no later than the 15th day of
each month, a statement showing all receipts and disbursements reflecting the financial condition
of the Business for the immediately preceding month, plus a copy of the general ledger, an
accounts receivable breakdown showing all monies past due from tenants and a copy of the bank
reconciliation statement. At such time, unless otherwise instructed, Manager shall forward to
City the balance in the operating account after all necessary charges have been made and a
reasonable reserve has been set aside for payment of anticipated future expenses. A
representative of Manager shall inspect the Facility at least once per month and Manager shall
furnish City with a quarterly report containing an analysis of such matters as marketing strategies
and future repair requirements.
13. Effective Date and Term This agreement shall become effective on October_,
2006 ("Effective Date") and shall remain in effect for ninety (90) days from the Effective Date.
Thereafter, either party shall have the right to terminate this Agreement, whether for cause or
otherwise, at any time upon thirty (30)days prior written notice to the other party hereto.
RVBU9.GPRICE1703621.3 5
14. Representatives. The designated representative of the City to whom the Manager
shall report shall be Don Penman, Deputy Executive Director of Agency. The designated
representative of Manager to whom the City shall make all requests regarding the operation of
the Business and the Facility shall be Dan Braun. Each party may change their designated
representative upon written notice to the other party.
15. Notices. All notices referred to herein, shall be deemed to be sufficiently given if
in writing and personally delivered or sent by commercial overnight courier to the City or to the
Manager, as the case may be, at their respective business addresses first hereinabove given or at
such other address or addresses as either party shall hereafter designate by written notice.
16. Independent Contractor Status. For all purposes, Manager's status under this
agreement shall be that of an independent Contractor, and not that of an agent of City. Manager
warrants and represents that it has complied with all Federal, state, and local laws regarding
business permits and licenses that may be required for it to perform the services hereunder as an
independent contractor. Manager shall solely be responsible for deducting or withholding all
federal, state and local payroll taxes with respect to all employees of Manager working at the
Facility. In accordance with the terms of this agreement and the understanding of the parties, no
employee of Manager shall be treated as an employee of City,nor be eligible for, nor entitled to,
and shall not participate in, any of City's pension, health, or other fringe benefit plans. Manager
will obtain workers' compensation insurance for or on behalf of all employees of Manager
working at the Facility and shall furnish proof of such coverage in the form of a copy of the
certificate of workers' compensation insurance to City(subject to reimbursement for the cost of
such insurance pursuant to the Budget).
17. Miscellaneous.
(a) This Agreement contains the entire understanding of the parties and it may
not be changed or modified orally but only by written instrument in accordance with the laws in
the State of California.
(b) This Agreement shall be binding on the parties hereto,their successors and
assigns. This agreement shall be construed and interpreted in accordance with the laws in the
State of California.
(c) If any provision of this Agreement is held to be invalid or unenforceable,
such validity or unenforceability shall not invalidate this Agreement as a whole, but this
Agreement shall be construed as though it did not contain the particular provision held to be
invalid or unenforceable and the rights and obligations of the parties shall be construed and
enforced only to such extent as shall be permitted by the law.
(d) The Manager shall have the right to delegate selected duties on or about
the Facility arising out of or in connection with this Agreement to corporate subsidiaries or
affiliates which are under the control of Manager.
[signature page follows]
RVBUS\GPRICE1703621 3 6
IN WITNESS WHEREOF, the parties have hereunto set their hands on the day and year
first written above.
CITY:
REDEVELOPMENT AGENCY OF THE CITY OF
ARCADIA,a public agency
By: ( [ S1t uO
William R. Kelly,Executive Director
APPROVED AS TO FORM: ►%•�-+106
City Attorne
Glen W. :T'ce,Bes Best&Krieger LLP
MANAGER:
BRAUN PROPERTY MANAGEMENT,
a California corporation,dba • '• - - ST
MANAGEMENT
Agt
By: _ ..►
aryl MEd- •t
By:
Daniel E.Braun, Secretary
RVBUSCPRICE\703621.3 7