Resolution - 8309E
RESOLUTION NO. 8309
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST
COVINA APPROVING, AUTHORIZING AND DIRECTING EXECU-
TION OF A SECOND AMENDMENT TO A SUBLEASE AGREEMENT
RELATING TO THE LAKES PUBLIC PARKING PROJECT, AND
DIRECTING CERTAIN ACTIONS WITH RESPECT THERETO
RESOLVED, by the City Council of the City of .West Covina (the
"City");
WHEREAS, the Redevelopment Agency of the City of West Covina (the
"Agency") has, pursuant to that certain Lease Agreement, dated as of
August 1, 1988, between the City and the Agency (the "Lease") agreed to
lease that certain project described in Exhibit B to the Lease (the
"Project") from the City and, pursuant to the Lease, the City has
agreed to lease the Project to the Agency; and
WHEREAS, the City has subleased a portion of the Site (as herein-
after defined) and the Project to Watt Investment Properties, Inc., a
California corporation (the "Developer"), pursuant to the Agreement for
Sublease of Portion of Parking Facilities, dated as of August 1, 1988
(the "Sublease Agreement"), and has entered into an Operating Agreement
for Portion of Parking Facilities, dated as of August 1, 1988 (the
"Operating Agreement"), with the Developer with respect to the remain-
ing portion of the Site and the Project; and
WHEREAS, the City has determined that the provisions of the
Sublease Agreement providing for extended terms require amendment to
provide for five (5) additional terms of five (5) years each as such
extended term is defined in the Sublease Agreement; and
WHEREAS, the City desires to approve such amendment.
NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows:
SECTION 1. A Second Aamendment to the Sublease Agreement, in the
form on file in the office of the Assistant Executive Director, be and
the same is hereby approved, and the Mayor, City Manager, Assistant
City Manager, or Finance Director is hereby authorized and directed to
execute said amendment, with such changes, insertions and omissions as
may be approved by such official, and the City Clerk is hereby author-
ized and directed to attest to such official's signature.
SECTION 2. The Mayor, City Manager, Assistant City Manager,
Finance Director, City Clerk and other officials of the City are hereby
authorized and directed to execute such other agreements, documents and
certificates as may be necessary to effect the purposes of this
resolution.
•
C 1
-2-
SECTION 3. The City Clerk shall certify to the adoption of this
resolution.
APPROVED AND ADOPTED this 27th day of February 1989.
ATTEST:
City Clerk
Mayor
I HEREBY CERTIFY that the foregoing Resolution No. 8309 was duly
adopted by .the City Council of the City of West Covina at a regular
meeting thereof held on the 27th day of February 1989, by
the following vote:
AYES: Councilmembers: Tarozzi, McFadden, Lewis, Bacon, Manners
NOES: Councilmembers: None
ABSENT: Councilmembers: None
ABSTAIN: Councilmembers: None
APPROVED AS TO FORM:
For Jones, Hall, ill & White,
a Professional Law Corporation,
as Special Counsel
LAK300KJ
City Clerk