WHEREAS, the El Camino Village development contains a ground level retail space that HACSM currently leases to Yahia Shehadeh and Sabah Echkantana, d/b/a Jaffa City Café, under a lease executed in 2000 and amended on two prior occasions; and
WHEREAS, the second lease amendment expired on September 30, 2009 and HACSM is interested in executing a third amendment to the lease that, among other things, retroactively extends the lease term; and
WHEREAS, this third amendment to the lease extends the term of the lease through March 31, 2013, provides for periodic increases in the rent, and expands the Tenant Operations provision;
WHEREAS, this Board is authorized to approve the execution of the Third Amendment to Lease Agreement between HACSM and Yahia Shehadeh and Sabah Echkantana, d/b/a Jaffa City Cafe (Tenants);
WHEREAS, there has been presented to the Board of Commissioners for its consideration and acceptance the Third Amendment to Lease Agreement, reference to which is hereby made for further particulars, and the Board has examined and approved the same as to form and content.
|