HomeMy WebLinkAboutReso 83-1986RESOLUTION NO. 83'86
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION APPROVING AND A]THORIZING THE
EXECUTION OF THIRD AMENDMENT TO EXHIBIT "B"
OF THE GROUND LEASE BETWEEN THE CITY OF
SOUTH SAN FRANCISCO AND THE )RICE COMPANY
BE IT RESOLVED by the City Council of t~e City of South San Francisco that:
1. Approval of Amendment. [
The Third Amendment to Exhibit "B" ~f the Ground Lease entitled "Third
Amendment to Exhibit 'B' of the Ground Leas~ between the City of South San
Francisco and the Price Company entitled 'S
approved, and a copy of said Amendment is a
2. Execution of Amendment.
The Mayor is hereby authorized to e~
te Preparation Agreement'" is hereby
ttached hereto as Exhibit "1."
:ecute said Amendment on behalf of
the City, and the City Clerk attest her signature thereto.
I hereby certify that the foregoing ResOlution was regularly introduced and
adopted by the City Council of the City of ;outh San Francisco at a regular
meeting ~eld on the 23rd day of April
, 19 86 , by t~e following
vote:
AYES:
NOES:
ABSENT:
Counci(members Mark N. Addiego, Jo~o "Jack" Drago. Ric~aro A. Halley.
Gus Nicolopulos ano Roberta Cerri F~glia
None
None
EXHIBIT "1" to Resolution qo, 83-86
THIRD AMENDMENT TO EXHIBIT "B" 0~ THE GROUND LEASE
BETWEEN THE CITY OF SOUTH SAN FRANCISCO AND THE
PRICE COMPANY ENTITLED "SITE PREPARATION AGREEMENT"
On this 23rd of ~' April ..... i, 1986, a Site Preparation Agreement,
Exhibit "B" of the Ground Lease, between th~ City of South San Francisco, Landlord,
and the Price Company, Tenant, entered on Fpbruary 26, 1985 and subsequently
m
amended on September 25, 1985 and on November 18, 1985, is hereby amended to
read as set forth below:
1. Paragraph 1.D of the Site PreparatiOn Agreement is amended to read as
follows:
as follows:
"D. This agreement is conditioned upon Tenant receiving no later
than August 1, 1986, all necessary and required final govern-
mental land use and other approvals and building and other
permits (the "Approvals") needed for the construction and oper-
ation on the property of a ty)ical Price Club operation to be
located in a building of approximately 100,000 square feet
(the "Planned Use"), including all governmental approvals
necessary to perform the deve' opment work referred to in
Paragraph 2, below herein."
Paragraph 5 of the Site Preparation Agreement is hereby amended to read
Lease Commencement. I
The lease term shall com. mence two (2) months after all condi-
tions in Paragraph i have been satisfied or waived by Tenant
but in no event earlier than October 1, 1986 (two months after
August 1, 1986) (the "Commencement Date"). Within fifteen (15)
days after the Commencement Date, Landlord and Tenant shall
execute an addendum to the lease, setting forth the date of the
Commencement Date." )
Except as specifically amended herein t~e remaining portions of the Ground
Lease and the exhibits thereto referenced at~ove are hereby confirmed, ratified
and approved.
Executed as of the date first above written~
TENAkT:
THE PRICE COMPANY,
a California Corpiration
President
ATTEST:
By: '- ~ ........................
Secretary -
LANDLORD:
CITY OF SOUTH SAN FRANCISCO,
a Muricipal Corporation