AgdaPkt 2009-04-27 - Laserfiche WebLink

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6.10 ATTACHMENT---L--Eage 5 AMENDMENT NO.1 TO LEASE AGREEMENT (Lease Area 18) THIS ADMENDMENT NO.1 is entered into as of , 2009, amending the lease agreement dated November 19, 2007 (the lIOriginal Lease Agreementll) by and between the Redevelopment Agency of the City of Redwood City, a public body, corporate and politic, duly organized and existing under the laws of the State of California ("Agency" or IILessor"), and Daily Boost LLC, d.b.a. lIDaily Boostll, hereinafter referred to as "Lessee", (collectively the llParties"). RECITALS WHEREAS, current market conditions, delays in the opening of Daily Boost, cold weather, vacant kiosks, time to build a customer base, and less than projected sales have resulted in Daily Boost not achieving its targeted revenues; and WHEREAS, Daily Boost strives to sustain its presence at Courthouse Square; and WHEREAS, the Agency continues its efforts to secure long-term, successful tenants in the remaining vacant kiosks; and WHEREAS, the Agency values Daily Boost's business presence at Courthouse Square and desires to keep Daily Boost as a tenant of Courthouse Square; and WHEREAS, Daily Boost has requested a modification to its terms of payment and hours of operations in order to continue to serve Redwood City residents and downtown visitors; and WHEREAS, the Agency Board would like to execute subsequent amendments to the terms of payment and hours of operation; and WHEREAS, the Parties have negotiated and agreed to the following amendments to the Original Agreement. NOW THEREFORE, in consideration of these recitals and the mutual covenants contained herein, the Parties agree as follows: 1. Paragraph 3, Sections 3.1, 3.2, and 3.7 are hereby amended to read as follows: "3. LEASE PAYMENT 3.1 Lease Payment. The monthly rent to be paid to the Lessor shall be determined by the following: A TTY/AGRJ2009/AMENDNO.1 DAIL YBOOST 040109