Reso 2025-3823 - Laserfiche WebLink

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2, Construction of Iua»rovements/Bulld-Out.. 2.1 Lessee Build -Out Obligations. Lessee at its own expense will construct or cause to be, constructed on the Leased Premises the installation of all furnishing, fixtures, and equipment for the operation of the restaurant, (the "Improvements"), substantially in accordance with the Final Plans and Specifications (the "Final Plans") to be prepared by Lessee and submitted to Lessor for approval. The Final Plans shall be submitted to the City Manager or designee within one hundred and twenty (120) days of the execution of this Lease. The Final. Plans shall provide specific details and layout for the "Fly Me to the Moon" restaurant and high- end gourmet food market concept which is generally described in Exhibit "C". The Improvements will be constructed by Lessee in a good and workmanlike manner utilizing new and first grade materials, free and clear of all mechanics', laborers' and materialmen's liens and claims and in compliance with all applicable building, zoning and other laws, ordinances, regulations and orders of the federal, state, and county or other governmental authorities having jurisdiction over the Leased Premises, Lessee shall obtain all necessary permits, licenses and approvals, including building permits, from applicable governmental authorities for construction of the Improvements. Lessor agrees to waive building fees imposed by Lessor with respect to City lnlilding permit applications filed by Lessee. Lessor and its representatives shall have the right to inspect the Leased Premises during the course of construction of the Improvements. 2.2 Cost of impxovenaents. Lessee has represented the cost of Improvements to be at least the sum of Three Million Four Hundred Thousand Dollars ($3,400,000.00) (the "Lessee's Contribution") for the Improvements to be constructed on the Leased Premises. Lessee shall provide Lessor with contractor for Gateway Palkoof of expenditures for shall be at the expense requested Lessee to the generalof the Lesseeanmust be approved by the City Manager or his/hex designee. 2.3 Time for Completion of Improvements. The Lessee's Improvements shall be completed no later than one hundred eighty (180) days from the date the Lessor provides Lessee with possession of the Leased Premises. The Lessor may grant the Lessee an extension of time to complete the Improvements upon written request by the Lessee. Such written requests shall be provided to the Lessor as soon as the Lessee is awaxe of the need for such extension. Prior to rovide a accepting possession exfor ante Bond to Lessore Leased s to es,ensure completessee shall pon of the Improne vements, illion Dollars 2.4 Lessor's Obligations. Subject to the conditions herein, Lessor agrees to provide a lump sum payment not to exceed One Million Two Hundred Fifty Thousand Dollars ($1,250,000.00) ("Lessor's Contribution") to Lessee for the construction of Lessee's Improvements. Notwithstanding the foregoing, Lessor's Contribution shall be the lesser of 36,765% of the Lessee's actual cost for the Improvements, or One Million Two Hundred Fifty Thousand Dollars ($1,250,000). By way of example, if the total cost of Improvements is $3,000,000, Lessor's Contribution shall be One Million One Hundred Two Thousand Nine Hundred Fifty Dollars $1,102,950 ($3,000,000 x .36765 = $1,102,950). Lessor further agrees to construct the restaurant "Shell" for the Leased Premises. The Shell shall consist of the exterior c� 529