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HomeMy WebLinkAbout00254C - LA MIRAGE INTERIORS MOU PARKING LOT 333 SPC . • La Mirage Interiors - MOU Parking Lot Improvements AGREEMENT #254 PA1B12 R730, 10-3-90 MEMORANDUM OF UNDERSTANDING FOR IMPROVEMENTS TO LA MIRAGE INTERIORS PARKING LOT AT 333 SOUTH PALM CANYON DRIVE INTRODUCTION: The purpose of this Memorandum is to set forth the essential agreements between the City of Palm Springs Redevelopment Agency (Agency) and La Mirage Interiors (Owners) with respect to the upgrading of the parking lot (Lot) at 333 South Palm Canyon Drive and the Owners leasing to the Agency the excess parking spaces for public parking. City and Owners will enter into a formal lease agreement prior to requests for bids and after Agency approval . PROJECT DESCRIPTION: In general , the project consists of the crack filling, slurry coating, and restriping of the lot, lot lighting, relandscaping, replacement of damaged walks and curbs, and specifically includes the following: Crack filling Slurry coating Restriping Removal and replacement of 82 square feet of concrete Removal and replacement of 42 lineal feet of 8" curb Relandscaping Night time lighting of entire lot LEASE AGREEMENT: The Agency and owners will enter into a standard lease agreement for the leasing of the excess parking spaces. The specific points to be included in addition to the standard lease are as follows: A. OBLIGATION OF AGENCY: 1. Agency will advance funds to pay for cost of improvements not to exceed $42,500.00. 2. Agency will provide all specifications for improvements. 3. Agency at its sole discretion will send request for bids, award bids, and supervise all work according to Agencys established procedures. 4. Agency will lease from the owners on a full time basis 14 excess parking spaces at $740.00 per space, per year, and will lease an additional 56 spaces for use after owners regular store hours at a rate of $83.00 per space, per year. Total lease payment to owners for all spaces will be $15,008.00 per year. GRA -A - g B. OBLIGATION OF OWNER: 1. Owner will reimburse to the Agency initial costs for improvements over the term of the lease at a rate of not to exceed $8,500.00 per year. 2. In addition owner will reimburse to the City lot maintenance expenses not to exceed $6,508.00 per year. 3. These reimbursements will be deducted from the Agencys lease payment to owners. 3. Owners agree that if the lease for 333 South Palm Canyon Drive executed between owners and Iloulian (Lessor) on June 1, 1990 is terminated prior to May 31, 1995 by either party, then owners shall provide Agency with: ° A notarized statement from lessor to the Agency that all terms of the parking lot lease will be honored by the lesssor or; • Pay all costs and damages to the Agency as a result of the loss of these spaces for Agency use. These cost shall include, but not be limited to: Balance of payments due to Agency from owners. All costs to terminate any leases Agency entered into with other parties for Agency controlled spaces, should this be necessary. TERM: Lease term is for five (5) years. PROPERTY OWNERS: Jerry Illoulian et al are the Owners of the property at 333 South Palm Canyon Drive. TENANT: La Mirage Interiors is the lease holder of the property at 333 South Palm Canyon Drive and controls the parking lot at the same location. PAYMENT: All parties understand and agree that $8,500.00 per year will be recaptured from the Agency's yearly lease payment to owner to reimburse Agency for Lot improvements. The owners contribution to the City for lot maintenance will not exceed $6,508.00 per year. The total lease payments for the five year term will be equal to the total amount paid for the initial improvements. Agency will seek to have the City agree to maintain leased spaces at an approximate cost of $6,508.00 per year. C9.4 APPROVAL: This Memorandum of Understanding is subject to the approval of the City of Palm Springs Redevelopment Agency. DATED: J CITY OF PALM SPRINGS REDEVELOPMENT AGENCY ATTEST; x- } .. ).-_ . _ BY: City',oC�1erk Acting pity--Manager- DATED: �✓ 7 LA MfRAGE INTERIORS, INC. kk I BY Vern Will , Owners APPROVED BY REDEVELOPMENT AGENCY APPROVED As TO FORM BY RESOLULTION NO. -1 0 - �9 -4 A";' Jam/(- Gity Attarmey Date a/14/1100. CERTIFICA0 OF INSURANCE ISSUE DATE(MMIDDIYY) 12-17-90 '! PRODUCER - THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND 'i HUGH K. CURTIS INS. SERVICES, INC. 'i CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE II P. O. Box 8777 POLICIES BELOW. Palm Springs, CA 92263 619/327-7-8516516 COMPANIES AFFORDING COVERAGE 1 ICI FAX 619/327-3332 COMPANY Ili LETTER A CNA INSURANCE COMPANIES COMPANY INSURED - --- - -- _ - - - -- - - LETTER Bti COMPANY 1I LA MIRAGE INTERIORS, INC. LETTER C 70-007 Highway 111 COMPANY Rancho Mirage, CA 92270 LETTER D 'A I COMPANY LETTER E .; ;: COVERAGES - - - - - - - -. - - - - - - -- ,---- _ THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED, NOTWITHSTANDING ANY REQUIREMENT,TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN,THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. CO TYPE OF INSURANCE POLICY NUMBER POLICY EFFECTIVE POLICY EXPIRATION LIMITS •LTR DATE(MM/DDIVY) DATE(MM/DDIYY) - GENERAL LIABILITY GENERAL AGGREGATE $ 2,000,000. A .� COMMERCIAL GENERAL LIABILITY 103436445 12-15-90 12-15-91 PRODUCTS-COMPIOP AGO. $ 1,000 000 i, CLAIMS MADE X OCCUR. PERSONAL&ADV.INJURY $ 1,000,000. X, OWNER'S A CONTRACTOR'S PROT. EACH OCCURRENCE $ 1,000,000. FIRE DAMAGE(Any one fire) $ 50,000. !!I i MED.EXPENSE(Any one person) $ 5-,0-00.-1 AUTOMOBILE LIABILITY --�— -- ---�_-__-- - -.-- - COMBINED SINGLE AUTO LIMIT ANY ALL OWNED AUTOS BODILY INJURY SCHEDULED AUTOS (Per person) $ R HIRED AUTOS ' BODILY INJURY NON-OWNED AUTOS (Per accident) $ it GARAGE LIABILITY PROPERTY DAMAGE $ Ii EXCESS LIABILITY EACH OCCURRENCE $ UMBRELLA FORM AGGREGATE OTHER THAN UMBRELLA FORM WORKER'S COMPENSATION STATUTORY LIMITS-- EACH ACCIDENT $ AND DISEASE—POLICY LIMIT $ - EMPLOYERS'LIABILITY DISEASE—EACH EMPLOYEE $ �- -OTHER DESCRIPTION OF OPERATIONS/LOCATIONS/VEHICLES/SPECIAL ITEMS Re: 333 So. Palm Canyon Drive, Palm Springs, CA 92262 CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE CITY OF PALM SPRINGS EXPIRATION DATE THEREOF, THE ISSUING COMPANY WILL ENDEAVOR TO P. 0. BOX 1786 MAIL 10 DAYS WRITTEN TICE TO THE CERTIFICATE HOLDER NAMED TO THE Palm Springs, CA 92263 LEFT, BUT FAILURE TO AI SUCH NOTICE SHALL I POSE NO OBLIGATION OR LIABILITY OF ANY KIND P THE C PANY, ITS ENTS OR REPRESENTATIVES. AUTHORIZED REPRESE 11 ACORD 25-S (7/90) �i/fj i ©A ORD CORPORATION 1990