Agmt09 Hidden Dragon Tea House-HD Food Service Inc. - Lease Agreement

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.... ORIGINAL AMENDMENT NO.1 TO LEASE AGREEMENT (HD Food Service Inc. Lease Area 1A - 2202 Broadway) THIS AMENDMENT NO.1 is entered into as of ~010, amending the lease agreement dated June 26, 2009 (the "Origin~reement") 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 "Lessor"), and HD Food Service Inc., doing business as "Hidden Dragon Tea House", hereinafter referred to as "Lessee", (collectively the "Parties"). RECITALS WHEREAS, Hidden Dragon Tea House strives to sustain its presence at Courthouse Square; and WHEREAS, HD Food Service Inc. requests a rent reduction in order to continue to serve Redwood City residents and downtown visitors; and WHEREAS, the Agency Board desires to assist Hidden Dragon Tea House in its efforts to maintain a business presence at Courthouse Square; and WHEREAS, the Parties have negotiated and agreed to the following amendments to the Original Lease Agreement. NOW THEREFORE, in consideration of these recitals and the mutual covenants contained herein, the Parties agree as follows: 1. Subsection (b) of Paragraph 3.1 is hereby amended to read as follows: "3.1 (b) The monthly rent to be paid to the Lessor shall be $1.00 effective March 1, 2010 to April 30, 2011. Thereafter, the monthly rent shall be $2.11 per square foot ($403.00 per month)." 2. Section 38.1 is hereby amended to read as follows: "38.1 The Redevelopment Agency Board to authorize the Executive Director or his/her designee to amend the monthly rents, rent due dates, hours of operations, and CPI adjustments administratively." 3. All other provisions of the Agreement, as may have been amended from time to time, will remain in full force and effect. 4. All requisite insurance policies to be maintained by the Lessee pursuant to the A TTY/AGR/201 0/AMENDMENTS/AMENDNO.1 HIDDENDRAGONLEASE 080410