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Fifth Amendment UBS Financial Services 300 State Street Suite 400
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76-2023
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Contracts & Agreements_76-2023
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5/4/2023 8:34:00 AM
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Contracts & Agreements
Subject
Lease Agreement
Details
Fifth Amendment UBS Financial Services 300 State Street Suite 400
Date
5/2/2023
Document Number
76-2023
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FIFTH AMENDMENT TO MULTI -TENANT OFFICE LEASE — GROSS <br />This Fifth Amendment ("Fifth Amendment") to the Multi -Tenant Office Lease -Gross <br />("Lease"), dated September 15, 2002, is made and entered into on this 2nd day of May 2023 by <br />and between the City of Redlands, a municipal corporation and a general law city ("Lessor"), and <br />UBS Financial Services Inc., ("Lessee"). City and Lessee are sometimes herein referred to <br />individually as a "Party" and collectively as the "Parties." <br />RECITALS <br />WHEREAS, on September 15, 2002, Lessee entered into a Multi -Tenant Office Lease - <br />Gross with Redlands Community Investment Corporation, a California Corporation for the lease <br />of approximately 3,595 square feet of space at 300 East State Street, Suite 400, Redlands, <br />California; and <br />WHEREAS, Lessee and Redlands Community Investment Corporation amended that <br />certain Lease Agreement with the First Addendum dated September 15, 2022, Second Addendum <br />dated May 20, 2010, Third Addendum dated January 23, 2015, and Fourth Addendum dated May <br />2, 2018; and <br />WHEREAS, on September 21, 2021, City of Redlands and Redlands Community <br />Investment Corporation entered into an Assignment and Assumption Agreement, wherein, <br />Redlands Community Investment Corporation assigned and transferred to City of Redlands all <br />right title and interest in, to and under the leases for 300 East State Street; and <br />WHEREAS, it is the desire of the Lessor and Lessee to amend the existing Lease, <br />specifically by extending the Lease Term for one month.; <br />NOW, THEREFORE, for good and valuable consideration in the receipt of which is hereby <br />acknowledge Lessor and Lessee agree as follows: <br />AGREEMENT <br />Section 1. Extended Lease Term: Without further notice required, the Lease is hereby <br />extended from June 1, 2023, through June 30, 2023 (the "Extended Lease Term"). <br />Section 2. Base Rent: The monthly Base Rent for the period June 1, 2023, through June <br />30, 2023 is $8,092.41. <br />Section 3. Signs: Addendum II to Lease, Section Entitled "Signs" is hereby amended to <br />read as follows: <br />Lessor hereby revokes Lessee's right to one (1) "top -of -the -building" sign. Lessor shall, at <br />Lessor's sole cost and expense, remove and dispose of one (1) "top -of -the -building" sign. Upon <br />removal, Lessor, shall at Lessor's cost, make any repair to the building face necessary to return <br />the property to its original condition. Lessor shall destroy Lessee's signage within thirty (30) <br />1 <br />[:\Citrus Center - 300 E State Street\Tenant Lease Agreements\UBS (Ste 400)\Redlands.CA.UBS-5th Amendment to <br />Lease.one.month.extensionrevised CLEAN 4.26.23.docx <br />
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