HomeMy WebLinkAboutAmendment to Lease Agreement with AUSD - Armory PropertyAMENDMENT NO. 1 TO THE LEASE AGREEMENT BY AND BETWEEN THE CITY OF
ARCADIA AND THE ARCADIA UNIFIED SCHOOL DISTRICT (ARMORY PROPERTY)
This Amendment No. 1 (the "Amendment ") is entered into this day of ,
1996 by and between the City of Arcadia (the "City ") and the Arcadia Unified
School District (the "School District ") with reference to that Lease Agreement (the
"Lease ") approved by the City and dated January 4, 1994.
RECITALS
WHEREAS, the City and Developer have entered into the Lease for the
property located at 270 W. Huntington Drive, Arcadia, CA; and
WHEREAS, the School District has occupied the property continuously in
accordance with the terms and conditions of the Lease; and
WHEREAS, the School District has requested (Exhibit "A ") a one year
extension to the term of the Lease; and
WHEREAS, the terms proposed in Exhibit "A" are acceptable to the City;
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WHEREAS, the City has determined that the property is not currently
needed by the City for municipal purposes.
AGREEMENT
NOW, THEREFORE, in consideration of the above facts, the parties to the
Lease hereby agree as follows:
SECTION 1. The term of the Lease as set forth in Section 1 of the Lease
shall be extended one year from September 30, 1996 until September 30, 1997.
SECTION 2. Commencing with the rental payment due on October 1, 1996
as set forth in Section 2 to the Lease, the School District shall pay the City a
monthly rental payment in the sum of ONE THOUSAND FIVE HUNDRED TEN
DOLLARS AND 40/100 (51,510.40).
SECTION 3. The City and School District reaffirm all terms and provisions
of the Lease except insofar as such terms and provisions have been amended or
modified pursuant to this Amendment.
ARCADIA UNIFIED. DISTRICT CITY OF ARCADIA
By: - W__aj
City Manager