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HomeMy WebLinkAboutReso 100-19 Amendment #1 for lease site 69-71-69w-70w for Three Stacks and Rock BrewingRESOLUTION NO. 100-19 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MORRO BAY, CALIFORNIA APPROVING AMENDMENT #1 TO THE BUILDING LEASE AGREEMENT FOR LEASE SITE 69-70/69W-70W BETWEEN THE CITY OF MORRO BAY AND THREE STACKS AND A ROCK BREWING COMPANY, LLC LOCATED AT 595 EMBARCADERO THE CITY COUNCIL City of Morro Bay, California WHEREAS, the City of Morro Bay is the lessor of certain properties on the Morro Bay Waterfront described as City Tidelands leases and properties; and WHEREAS, on August 13, 2019 the City approved a new short-term Building Lease Agreement with Three Stacks and a Rock Brewing Company ("Three Stacks") for portions of the building at the Lease Site; and WHEREAS, Three Stacks and the City are completing significant improvements to enable Three Stacks to occupy and operate from the building on Lease Site 69- 70/69W-70W; and WHEREAS, due to significant structural and other issues with the building recently discovered, it is now necessary to extend the December 1, 2019 deadline for completion of the work necessary for Three Stacks' occupancy to May 31, 2020; and WHEREAS, the City and Three Stacks have agreed upon an extension to the lease agreement deadline to complete the necessary improvements. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Morro Bay, California, as follows: 1. The attached Amendment #1 to the Building Lease Agreement for Lease Site 69-70/69W-70W is hereby approved. 2. The Mayor is hereby authorized to execute said Amendment. PASSED AND ADOPTED by the City Council of the City of Morro Bay at a regular meeting thereof held on the 10th day of December, 2019 on the following vote: AYES: NOES: ABSENT Headding, Addis, Davis, Heller, ATTEST: a� na Swanson, City Clerk McPherson AMENDMENT #1 TO THE BUILDING LEASE AGREEMENT FOR LEASE SITE 69-70/69W-70W, LOCATED AT 595 EMBARCADERO This Amendment ("Amendment #1") is made and entered into as of this i0 day of LW(enKhc/ 20191 by and among the City of Morro Bay, a municipal corporation of the State of California, whereinafter called "City," and Three Stacks and a Rock Brewing Company, LLC, a California limited liability company, hereinafter called "Tenant." (Collectively, City and Tenant are sometimes referred to herein as the "Parties.") WHEREAS, this Amendment #1 is to that certain Building Lease (the "Lease"), which was approved by the City Council on August 13, 2019, and once executed, deemed effective August 8, 2019; and WHEREAS, while Tenant and City were pursuing their respective building improvement obligations under the Lease, certain structural and other issues were discovered, necessitating a change in the timeline in which the improvements are to be completed because more time is required to complete them. NOW THEREFORE, Parties agree, as follows: 1. Section 2.2 is replaced in its entirety as follows: 2.2 Initial Term. The term of this Lease shall commence upon Tenant receiving a Certificate of Occupancy or Final Inspection, as applicable, for the improvements satisfactorily completed pursuant to Section 3.3 of this Lease, but in no case later than May 31, 2020 (the "Commencement Date") for a fixed term of twelve full calendar months after the Commencement Date (the "Initial Term"), and terminate without notice at the end of the Initial Term, unless otherwise amended by the Parties pursuant to Sections 2.4 and 29.14. 2. The first sentences in Sections 3.3.1 and 3.4.1 are amended as -follows: 3. Except as expressly stated herein, all provisions of the Lease shall remain in full force and effect. 4. The effective date of this Amendment #1 is the date first written above. IN WITNESS WHEREOF the parties hereto have executed this Amendment #1 as of the date written above. CITY OF MORRO BAY By: APPROVED AS TO FORM: Chris F. Neumeyer, Ci Attorne ATTEST: Dan"a wanson, City Clerk Three Stacks and a Rock Brewing Brewing Company, LLC A California limited liability company By: s Nettnin, Managing Member (Attach Notary Acknowledgements for Tenant) ALL-PURPOSE ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California A3',�a County of .cLyis On , ©/ <a -Z hATI. personally appeared _, Notary Public, Ived to me on the basis of satisfactory evidence to be the persons) whose names) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the b µOF CHRISTOPHTRUS ER PEKY person(s) acted, executed the instrument. Cow. # 2192009 N d NOTARY PUBLIC -CALIFORNIA SAN Luis OBISPO COUNT! PA MY Comm. EXP. APR. 16T2B' 2 I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS Whand and Dffjcial se PLACE NO1'ARYSEAL INABOVGSPACE NUTARY'SSIGNATURG OPTIONAL INFORMATION The information below iS optional. However, it may prove valuable and could prevent fraudulent attachment of this form to an unauthorized document. CITY CLAIMED BY SIGNER (PRINCIPTAL) �,I�INDIVIDUAL v❑ CORPORATE OFFICER ❑ PARTNER(S) 'TITLE ❑ ATTORNEY -IN -FACT ❑ GUARDIAN/CONSERVATOR ❑ SUBSCRIBING WITNESS OTHER: DESCRIPTION OF ATTACHED DOCUMENT OF DOCUMENT NUMBER OF PAGES DATE (5F DOCUMENT OTHER SIGNER (PR[NC[PAL) IS -REPRESENTING: RIGHT NAMEOF PERSON(S)OR ENTITY(IFS) THUMBPRINT OF SIGNER APA(H�:JJJS NU7ARYBONDS,SUPPLIESANDFORMSATNTTP.gWWWVALLGY•SllsRRA.COM �720(IS•2017VALLGY-SIIiRRA1N5URANCE