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<br />City Attorney's Office <br />3900 Main Street <br />Riverside, CA 92522 <br />(909) 782-5567 <br /> <br />1 <br />2 <br />3 <br />4 <br /> <br />FIRST AMENDMENT TO GROUND LEASE <br /> <br />5 <br />6 <br /> <br />(Life Arts Center, Inc.) <br />THIS FIRST AMENDMENT TO GROUND LEASE is made and entered into this 31stday <br />March, 1999 <br />of No~'emher 1998, by and between Life Arts Center, Inc., a California corporation ("Lessor") and <br />the Redevelopment Agency of the City of Riverside ("Lessee") with reference to the following facts: <br />A. Lessor and Lessee entered into that certain Ground Lease dated October 7, 1998 ("Ground <br /> <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br /> <br />Lease") for certain real property (the "Property"), including all necessary easements for utilities and <br /> <br />access, located in the City of Riverside, California generally located at the northwest corner of <br /> <br />University Avenue and Lemon Street running from University Avenue northerly to the alley between <br />University A venue and Seventh Street, and more specifically described and shown on that certain Site <br /> <br />Map and Legal Description, attached to and incorporated in the Ground Lease as Exhibit "A." <br />B. The term of the Ground Lease was for a period of five (5) years commencing on October <br />7, 1994 and ending at midnight on October 7, 1999, unless sooner terminated as provided therein. <br /> <br />C. Lessor requires financial assistance from Lessee, in the amount of forty-one thousand two <br /> <br />hundred fifty dollars ($41,250.00 ), to complete certain structural improvements related to sprinkler <br />installation in the Life Arts Center Building located on the property. <br /> <br />17 <br /> <br />18 <br /> <br />19 <br /> <br />20 <br /> <br />21 <br /> <br />22 <br /> <br />23 <br /> <br />24 <br /> <br />25 <br /> <br />26 <br /> <br />27 <br /> <br />D. Lessee desires and is able to provide financial assistance to Lessor in the amount of forty- <br /> <br />one thousand two hundred fifty dollars ($41,250) in exchange for Lessor extending the lease term for <br />a period of five (5) years from the termination date. <br />NOW THEREFORE, the parties hereto mutually agree as follows: <br />1. Section 3 of the Ground Lease is amended in its entirety to read as follows: <br />Section 3. Term. The term of this Lease shall be for a period of ten (10) years (the <br />"Term") commencing on October 7, 1994, and ending at midnight on October 7, 2004, unless sooner <br /> <br />terminated as hereinafter provided. <br /> <br />2. That a new Section 4.5 is added to the Ground Lease to read as follows: <br /> <br />Section 4.5 Rent for Term Extension, In consideration for Lessor extending the Term <br /> <br />until October 7, 2004, Lessee shall pay, in advance and within thirty days of the effective date of the <br /> <br />~/Il /1-/7-98 <br />t-il- /31./ <br />