Agmt25 YMCA-SV Second Amendment - Laserfiche WebLink

Browse Search

Exhibit D ATTY/AGR/2025/AMEND NO.2 – YMCA MASTER PROJECT AGREEMENT REV: 07-17-25 VR (a) Rent. Beginning as of the Commencement Date, and continuing until the Termination Date, Tenant shall pay to Landlord a yearly rent payment in the amount of One Dollar ($1.00) (“Rent”). Tenant may prepay the Rent for the entire Term, at its option. (b) Location for Payment. All Rent and all other moneys and charges payable by Tenant to Landlord hereunder shall be paid by Tenant to Landlord in lawful money of the that certain area shown on the Site Plan which will include the United States of America at Landlord’s address for notices hereunder, or to such other person or at such other place as Landlord may from time to time designate by notice in writing to Tenant. 5. Community Benefits/Affirmative Covenant for Financial Statements and Reporting. In addition to the payment of Rent, in an effort to maximize community participation in Tenant programs, Tenant will provide certain community benefits associated the New YMCA as more particularly set forth in Attachment 4 (“Community Benefits”), which may be amended in writing from time to time as the Parties deem reasonably appropriate. During the Term, beginning on the First (1st) day of November after the Commencement Date and continuing annually thereafter during the Term and any extension thereof, Tenant shall provide an annual operating budget for the New YMCA facility and Tenant’s financial statement showing the balance sheet and income and expense statement for the most recent full year of operations and year to date financial statement through September 30 of each year. Such financial statements and operating budget shall demonstrate the ability to cover 100% of the operating expenses for the New YMCA facility for the following calendar year. Landlord understands and agrees that Tenant may provide a financial statement YMCA-SV’s operations. Tenant’s continuing financial strength shall be an ongoing covenant of the Lease, and Tenant’s failure to show same shall trigger a requirement to meet and confer with Landlord to discuss the plan to become financially self-sufficient. 6. Taxes and Assessments (a) Tenant covenants and agrees to pay and discharge, during the entire Term, before delinquency, all taxes, assessments, water charges, sewer charges, utility rates and fees, levies or other charges, general, special, ordinary, extraordinary and otherwise, of every kind and character which are or may during the Term be levied, charged, assessed or imposed upon or against the YMCA Site, or any buildings or improvements thereon, or against any of Tenant’s personal property located thereon. As of the Termination Date, any such taxes, assessments and other charges to be paid by Tenant shall be prorated on the basis of the fiscal year of the taxing authority in question so that, at the commencement and at the end of the Term, as to any such taxes, assessments and other charges levied or assessed for a fiscal year preceding the commencement or extending beyond the end of the Term, Tenant will pay only such proportion of such taxes, assessments and other charges as the portion of such fiscal year following the commencement and preceding the Termination Date, as it relates to the entire fiscal year. (b) Notwithstanding anything herein to the contrary, Tenant shall not be required to pay any net income tax measured by the income of Landlord from all sources, or any tax which may, at any time during the Term, be required to be paid on any gift, or demise, deed, mortgage, Page 3 of 50