HomeMy WebLinkAboutAgreement A-15-340-1 with B.H. 1821 Fulton Street, LLC.pdfL-127FultonStreet
DSS/5610
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COUNTY OF FRESNO
Fresno, California 1
ASSIGNMENT OF LEASE AGREEMENT
THIS ASSIGNMENT OF LEASE (“ASSIGNMENT”) is made and entered into this
day of , 2020, by and between Clay Street Capital, Inc. (“ASSIGNOR”), B.H.
1821 Fulton Street LLC, 11111 Santa Monica Blvd, Suite 600, Los Angeles, CA 90025,
(“ASSIGNEE”), and the COUNTY OF FRESNO, a political subdivision of the State of
California, 333 Pontiac Way, Clovis, CA 93612, ("COUNTY").
WITNESSETH:
WHEREAS, COUNTY and ASSIGNOR entered into Agreement 15-340, dated July 14,
2015 (“LEASE”), pursuant to which ASSIGNOR agreed to provide 20,560 square feet of office
space at 1821 Fulton Street, Fresno, CA 93721 (“Premises”);
WHEREAS, on July 22, 2019, ASSIGNOR sold the Premises to ASSIGNEE;
WHEREAS, Section 21 provides for the assignment of the LEASE with the written
consent of Both Parties; and
WHEREAS, ASSIGNOR wishes to assign, transfer, and delegate all of its rights,
benefits, responsibilities, and obligations under the LEASE to ASSIGNEE; and
WHEREAS, ASSIGNEE represents that it is willing and qualified to accept the
assignment, transfer, and delegation of ASSIGNOR’s rights, benefits, responsibilities, and
obligations under the LEASE, and to perform faithfully and completely in ASSIGNOR’s stead
thereunder.
NOW, THEREFORE, the parties agree that the LEASE shall be, and is, transferred
and assigned by ASSIGNOR and ASSIGNEE as follows:
1.ASSIGNOR does hereby transfer and assign all of its rights and interest in, and
delegates all of ASSIGNOR’s obligations and responsibilities under the LEASE.
ASSIGNEE hereby accepts from ASSIGNOR such ASSIGNMENT of the LEASE
and ASSIGNEE agrees, as a direct obligation to COUNTY, without qualification or
reservation of right, to perform each and every one of ASSIGNOR’S obligations and
responsibilities under the LEASE, and to adhere to all terms of the LEASE as though
ASSIGNEE were the signatory party of said LEASE, in lieu of ASSIGNOR. As such,
March 10
Agreement No. 15-340-1
L-127FultonStreet
DSS/5610
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COUNTY OF FRESNO
Fresno, California 2
ASSIGNEE agrees that its liability under the LEASE shall include liability accruing as
a result of ASSIGNOR’s, as well as ASSIGNEE’s, performance or failure to perform
its obligations under the LEASE.
2.COUNTY hereby agrees to this ASSIGNMENT of the LEASE.
3.Each person executing this ASSIGNMENT in a representative capacity hereby
warrants and represent to the other parties that he or she is authorized to do so,
and that his or her signature shall be binding on that party.
4.This ASSIGNMENT shall be retroactive to July 22, 2019, the date that ASSIGNOR
sold the real property to the ASSIGNEE.
5.ASSIGNEE agrees to each and every term and condition of the LEASE.
6.Section 23, “Notices” of the LEASE shall be amended to read:
LESSEE: LESSOR:
The County of Fresno B.H. 1821 FULTON STREET LLC
Director of Internal Services/CIO Attn: Lease Administration
333 Pontiac Way 11111 Santa Monica Blvd, Suite 600
Clovis, CA 93612 Los Angeles, CA 90025
7.ASSIGNEE and ASSIGNOR hereby represent that any prior payments paid by
COUNTY, from July 22, 2019 until the execution of this ASSIGNMENT, have been
paid to the correct party, and that no further payments are owed by COUNTY to
ASSIGNOR.
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COUNTY OF FRES NO
F res no, Ca li fornia
L-127 Fulton Stre et
DSS /56 10
EXECUTED AND EFFECTIVE as of the date first above set forth .
ASSIGNEE :
~B.H. 1821 FULTON STREET LLC
By :-----------
ASSIGNOR:
Clay Street Capital, Inc.
By : cue-~fi
Eric Grabil -Asset Manager
Fund 000 1
Subcl ass 10000
Org No . 561 0
Acct. No . 734 0
Property /L-1 27 /DSS5610
COUNTY:
COUNTY OF FRESNO
ATTEST :
Bern ice E. Seidel
Clerk of the Board of Supervisors
Cou nty of Fresno , State of C aliforn ia
By : _......,.ci:....,._w:~...::::=·;___,~=-=-=-Pr'.___ __ _
Deputy =--=--,y-
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