Laserfiche WebLink
<br />ATTACHMEIT <br /> <br />6.10 <br />d- Page 9 <br /> <br />AMENDMENT NO.1 <br />(License Area 1 B) <br /> <br />THIS AMENDMENT NO. 1 is entered into and effective as of the _ day of <br />, 2009, amending the agreement dated November 20,2007 (the "Original License <br />Agreement") by and between the City of Redwood City, a chartered municipal corporation <br />("Licensor'), and Daify Boost LLC, d.b.a. "Daily Boost," hereinafter referred to as "Licensee" <br />(collectively, the "Parties"). <br /> <br />RECITALS: <br /> <br />WHEREAS, current market conditions, delays in the opening of Daily Boost, cold <br />weather, vacant kiosks, time to build a customer baset and less than projected sales have <br />resulted Daily Boost not achieving its targeted revenues; and <br /> <br />WHEREAS, Daily Boost strives to sustain its presence at Courthouse Square; and <br /> <br />WHEREAS, the Redevelopment Agency of Redwood City continues its efforts to secure <br />long-term, successful tenants in the remaining vacant kiosks; and <br /> <br />WHEREAS, Daily Boost has requested a modification to its license fee and common <br />area maintenance charges in order to continue to serve Redwood City residents and downtown <br />visitors; and <br /> <br />WHEREAS, the City Council would like the City Manager to negotiate and execute <br />subsequent amendments to the license fee and common area maintenance charges; and <br /> <br />WHEREAS, the Parties have negotiated and agreed to the following amendments to the <br />Original License Agreement. <br /> <br />NOW THEREFORE, in consideration of these recitals and the mutual covenants <br />contained herein, the Parties agree as follows: <br /> <br />1. Paragraph 3, Section 3.3 is hereby amended to read as follows: <br /> <br />3. "LICENSE PAYMENT <br /> <br />3.3 Licensee Fee Adjustment. The fee for the license area will be adjusted <br />by the consumer price index (CPI) of each year beginning on February 1, 2010. The <br />rent shall be adjusted by multiplying the same by the annual average percentage <br />increase (rounded to the nearest tenth decimal) in the CPt published by the United <br />States Department of Labor, Bureau of Labor Statistics (All Urban Consumers, All <br />Items) for the San Francisco - Oakland - San Jose Metropolitan Statistical Area <br />during the preceding twelve (12) month period, ending November 30. In any event, <br />each annual adjustment to the Licensee's License Area charges shall be the CPI <br />adjustment not to be less than 3% or exceed 8% during any given year. The monthly <br />rent shall be adjusted annually only for the period beginning February 1, 2010 and <br />ending November 6, 2012." <br /> <br />ATTY/AGR2009/AMENDMENTNO,1 DAIL YBOOSTAREA 1 B 1 <br />040109 <br />