24-0930_MITCHELL LAND AND IMPROVEMENT CO._2nd Amendment to LeaseSECOND AMENDMENT TO LEASE
THIS SECOND AMENDMENT TO LEASE, dated as of September 30, 2024,
("Second Amendment'), is entered into by and between MITCHELL LAND AND
IMPROVEMENT CO. ("Lessor") and CITY OF SAN JUAN CAPISTRANO ("Lessee"), with
reference to the following:
RECITALS
A. Lessor and Lessee entered into that certain Lease Agreement dated
August 12, 2022 and First Amendment to Lease dated October 5, 2022, referred to as (the
"Lease"), for the premises commonly known as 30448 Rancho Viejo Road, Suites 110 and
165, San Juan Capistrano, CA 92675 (the "Premises").
B. Lessor and Lessee desire to amend the Lease in order to extend the Term
of the Lease.
NOW, THEREFORE, in consideration of the foregoing facts and circumstances,
the mutual covenants and promises contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged by each of the
parties, Lessor and Lessee hereby agree as follows:
1. Recitals. The Recitals set forth above are incorporated herein as though
set forth in full here at.
2. Definitions. Unless the context clearly indicates otherwise, all initially
capitalized terms not otiose defined herein shall have the meanings ascribed to such terms
in the Lease. Unless the context clearly indicates otherwise, all references to the "Lease" in
the Lease shall hereafter be deemed to refer to the Lease as amended hereby.
4. Term. Lessor and Lessee acknowledge that the current Term of the
Lease will expire according to its terms on November 30, 2024. Notwithstanding the foregoing
or anything to the contrary contained in the Lease, Lessor and Lessee agree to extend the
term of the Lease. The extended term shall commence on December 1, 2024 ("Extension
Term Commencement Date"), and that the Term of the Lease is hereby extended for one (1)
month (sometimes referred to as the "Extension Term"), such that the new Expiration Date of
the Lease will be December 31, 2024. All provisions of the Lease, as amended by this First
Amendment, shall apply to the Extension Term, and as of the date hereof, "Term" shall include
the Extension Term.
5. Base Rent for the Extended Term of the Lease. Notwithstanding
anything to the contrary contained in the Lease, commencing on December 1, 2024, Lessee
shall pay to Landlord as base rent for the Premises per the schedule below:
Date Minimum Monthly Base Rent
12/l/24-12/31/24 $23,000.00
6. Condition of Premises and Tenant Im roversnn . Lessee
acknowledges that Lessee has been and continues to a in possession o the Premises, is
familiar with the condition of the Premises and accepts the Premises in its "AS IS' condition.
7. Security Deposit. Lessor is holding a Security Deposit from Lessee in
the amount of Twenty-three i�ousand Seven -hundred Fourteen dollars 00/100 from Lessee,
per Section 5 of the Lease.
8. Option to Renew.
Provided Lessee is not in default of the lease, Lessor shall grant tenant the option to renew the
lease for one (1) additional thirty (30) day period. Lessee shall notify Lessor in writing of its
intention to extend the term of the Lease not less than 30 days prior to the expiration of the
Extended Term. The monthly base rent for the option renewal period shall be ($23,000.00).
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9. Ratification. Except as otherwise specifically herein amended, the Lease
is and shall remain in full force and effect according to the terms thereof. In the event of any
conflict between the Lease and this Second Amendment, this Second Amendment shall
control.
10. Counterparts. This Second Amendment may be executed in several
counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same agreement.
IN WITNESS WHEREOF, this Second Amendment has been executed by the
parties as of the date first referenced above.
"Lessor" MITCHELL LAND AND IMPROVEMENT CO.
By: �la Kee�
Jon P. Beuder
Executive Vice President
Date:
"Lessee" CITY OF SAN JUAN CAPISTRANO
By. .
enja nJSi gel
City Manager
Date: (U — %
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