Agmt21 2215 Broadway RWC, LLC - Laserfiche WebLink

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2021 POLICE SUBSTATION LEASE This 2021 Police Substation Lease Agreement ("Agreement") is made and entered into as of April 7 , 2021, ("Effective Date") by and between 2215 Broadway RWC, LLC, a California limited liability company ("Landlord"), and the City of Redwood City, a charter city and municipal corporation ("City") (Landlord and City are collectively referred to herein as "Parties"). RECTTAIN A. Landlord's predecessor -in -interest entered into that certain Fox Theatre Agreement including a Police Substation Lease for the lease of certain Premises (defined below) located at 2223 Broadway, Redwood City, California, more particularly described therein, for an initial term of three years from October 1, 2016 through September 30, 2019. B. On May 12, 2017, Landlord acquired the fee interest in the Property (defined below) subject to the Fox Theatre Agreement and the Police Substation Lease. C. The Police Substation Lease has since expired, and the City has been holding over as a tenant under the terms of the Fox Theatre Agreement and original Police Substation Lease. D. Landlord and City now wish to enter into a new direct lease of the Premises from Landlord to City pursuant to the terms and conditions set forth below. AGREEMENT 1. LEASE. Landlord hereby leases and demises to City, and City hereby leases and hires from Landlord, the Premises (as defined below), for the Term and upon the covenants and conditions set forth herein. 2. TERM. The "Initial Term" of this Agreement shall be for one year beginning on February 1, 2021 (the "Commencement Date") and terminating on January 31, 2022. Landlord and City may agree in writing to extend the Term of the Agreement ("Extension Term"), and any Extension Terms together with the Initial Term shall be referred to as the "Term". 3. PREMISES. 3.1. Premises. Landlord is the owner of certain property located at 2223 Broadway Street, Redwood City, California, legally described on Exhibit A attached hereto and incorporated herein by reference ("Property"). The defined term "Property" includes the Building, the Common Area, the Premises, and the Improvements (each as defined below). The building itself is identified as "Building" on Exhibit B attached hereto and incorporated herein by reference and hereinafter referred to as the "Building." The premises being leased to City comprises a portion of the Building, the general location and layout of which is shown on Exhibit B, attached hereto and incorporated herein by reference ("Premises"). ATTY/DOCS-AGREEMENT/2021.024/POLICE SUBSTATION LEASE REV: 02-03-2021 VR Page 1 of 11