HomeMy WebLinkAbout20460 - RESOLUTIONS - 9/18/2002 RESOLUTION NO. 20460
OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS, ,
CALIFORNIA,APPROVING LEASEAGREEMENT NO. 4563
WITH KARBZ, INC. D/B/A SSC RACING INC. FOR A TERM
OF TEN (10) YEARS WITH A MONTHLY PAYMENT OF
$4,708, A04563
WHEREAS, on or about November 1, 1997, Tenant entered into a sublease agreement
("Sublease") with Illinois Tool Works Inc. ("Sublessor") for the sublease of the Demised
Premises (as that term is defined at Section 1.1 below) for a term of five (5) years expiring
October 31, 2002, with an option to extend the term until July 31. 2006 pursuant to the terms
of the Sublease; and
WHEREAS, underthe Sublease, Tenant has operated the corporate headquarters of its go-
cart manufacturing business at the Demised Premises and wishes to continue to operate
such business at the Demised Premises; and
WHEREAS, concurrently with the execution of this Lease, City and Sublessor have
terminated the ground lease ("Ground Lease") under which Sublessor leased the Demised
Premises from City; and
WHEREAS, in light of the termination of the Ground Lease, Tenant wishes to enter into this
Lease to permit it to continue to occupy the Demised Premises and operate its corporate
headquarters for its go-cart manufacturing business thereon; and ,
WHEREAS, Tenant wishes to lease from City and City wishes to lease to Tenant the
Demised Premises upon the terms and subject to the conditions of this Lease; and
NOW THEREFORE BE IT RESOLVED by the CITY COUNCIL of the City of Palm Springs
as follows:
Section 1. Lease Summary. Certain fundamental lease provisions are presented in this
Section and represent the agreement of the parties hereto, subject to further
definition and elaboration in the respective referenced Sections and
elsewhere in this Lease. In the event of any conflict between any
fundamental lease provision and the balance of this Lease, the latter shall
control. References to specific Sections are for convenience only and
designate some of the Sections where references to the particular
fundamental lease provisions may appear.
1.1 Demised Premises The "Demised Premises" shall refer to that certain
real property located at 3101 East Alejo Road, Palm Springs, in the County
of Riverside, State of California, as more particularly described in Exhibit"A"
hereof together with the improvements located thereon and as depicted as
the cross-hatched portions on the Plot Plan attached as Exhibit "B" hereof.
Resolution No. 20460
September 18, 2002
Page 2
1.2 Lease. Commencement Date. The term of this Lease shall commence
on September 18 2002 and shall terminate on September 18
2012.
ADOPTED this 18th day of September 2002.
AYES: Members Hodges, Mills, Reller-Spurgin and Mayor Rleindienst
NOES: None
ABSENT: Member Oden
TTEST: CITY OF PALM SPRINGS, CALIF—ORNIA
Ci Clerk City Mana
REVIEWED & APPROVED AS TO FORM
Resolution 20460
Page 3
EXHIBIT "A"
LEGAL DESCRIPTION OF DEMISED PREMISES
Those certain portions of section 13, Township 4 South, Range 4 East, San Bernardino
Base and Meridian, in the City of Palm Springs, County of Riverside, State of California, being
more particularly described as follows:
Commencing at the Northeast corner of said section 13, thence along the northerly line of
section 13, South 89*48'00" West a distance of 508.91 feet; thence South 0*12'00" East a
distance of 71.11 feet to the true point of beginning, thence North 51*10'25" West a distance of
66.28 feet; thence South 0*18'36" East a distance 336.50 feet; thence South 89*48'00" West a
distance of 253.27 feet; thence South 0*12'00" East a distance of 252.58 feet, thence North
89*33'00" East a distance of 370.73 feet, thence North 2*05'05" East a distance of 145.95 feet; '
thence South 89*48'00" West a distance of 15.82 feet; thence North 0*12"00" West a distance
of 399.89 feet; thence South 89*48'00" West a distance of 56.61 feet to the point of beginning.
Said parcel containing 2.882 acres.
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Resolution 20460
Page 4
EXHIBIT `B"
DEPICTION OF DEMISED PREMISES
N89 47'20'E 65B 70'
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l 71.11'
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370.73'
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110 SCALE PARCEL
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