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HomeMy WebLinkAbout09 - Amendment to Revocable License Agreement for Use of City -Owned Property at 1499 Monrovia AvenueQ �EwPpRT CITY OF O � z NEWPORT BEACH <,FORN'P City Council Staff Report March 8, 2022 Agenda Item No. 9 TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: Seimone Jurjis, Community Development Director - 949-644-3232, sjurjis@newportbeachca.gov PREPARED BY: Lauren Wooding Whitlinger, Real Property Administrator, Iwooding@newportbeachca.gov PHONE: 949-644-3236 TITLE: Amendment No. One to Revocable License Agreement with PCHS Facilities, LLC, for Use of City -Owned Property at 1499 Monrovia Avenue ABSTRACT: The City of Newport Beach (City) owns an approximately 12,700 -square -foot parcel of land at the terminus of West 15th Street and Monrovia Avenue (Property). The Property is currently utilized by the adjacent property owner, PCHS Facilities, LLC (Licensee), and used as a parking lot for operation of Pacifica Christian High School at 1499 Monrovia Avenue under a Revocable License Agreement (Agreement). The Agreement was set to expire in February 2022. For the City Council's consideration is an extension of the Agreement for 10 years, pursuant to the terms of the proposed Amendment No. One to the Revocable License Agreement. Nx0101LhI TT I=10117_111[a]►F a) Determine this action exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) (the activity will not result in a direct or reasonably foreseeable indirect physical change in the environment) and Section 15060(c)(3) (the activity is not a project as defined in Section 15378) of the CEQA Guidelines, California Code of Regulations, Title 14, Chapter 3, because this action will not result in a physical change to the environment, directly or indirectly; b) Approve a waiver of City Council Policy F-7 — Income Property based on the findings contained in this staff report, that conducting an open bid process or changing the licensee would result in excessive vacancy and costs, and the use of the property provides a unique service to the community and might not otherwise be provided where an open bid or fair market value of the property be required; and c) Authorize the City Manager and City Clerk to execute Amendment No. One to Revocable License Agreement Between the City of Newport Beach and PCHS Facilities, LLC, Assignee of Kobe Studios, LLC, for the Use of City Property. 9-1 Amendment No. One to Revocable License Agreement with PCHS Facilities, LLC, for Use of City -Owned Property at 1499 Monrovia Avenue March 8, 2022 Page 2 DISCUSSION: In 2010, the City rezoned the property at 1499 Monrovia Avenue from industrial to multi -family residential. The then owner of the property was granted a 10 -year abatement order in 2012, allowing continued use of the parcel pursuant to the previous industrial zoning designation. In late 2012, the City purchased the property and marketed the property for lease. Then in 2014, the City Council approved an agreement to sell the office building. The sale excluded an approximately 12,700 -square -foot area of the parcel at 1499 Monrovia Avenue, which was retained by the City as future right-of-way, to extend West 15th Street. As part of the transaction, the City Council approved a separate, Revocable License Agreement (Agreement) (Attachment B) to allow the buyer to continue use of the future right-of-way parcel as it had been originally developed for parking, landscaping, signage, and circulation around the office building. The Agreement was set to expire in February 2022, concurrently with the expiration of an abatement period which allowed use of the building for commercial/office industrial. In 2017, the 1499 Monrovia Avenue parcel was sold again and the City consented to assignment of the Agreement to the current Licensee, PCHS Facilities LLC, which operates Pacifica Christian High School Orange County, a private high school with its main campus located nearby at 883 West 15th Street. The Licensee purchased the office building and has processed entitlements to change the zoning to Private Institution (PI) (Ordinance No. 2021-21) and remodel the building to use as part of its school campus with faculty and administrative offices, and off-site student parking. Pursuant to City Council Policy A-1, at the regular meeting of the City Council on January 25, 2022, Councilmember O'Neill requested an item be placed on a future agenda for the Council to "consider extension of the revocable license agreement dated October 1, 2014, between the City of Newport Beach and Kobe, Inc., which was later assigned to Pacifica Christian High School, for use of the City property located at 1499 Monrovia Avenue." PCHS Facilities LLC has reviewed and approved the proposed Amendment, and their signatures are included on Attachment A. City Council Policy F-7 — Income Property Due to the Licensee's ownership and operation of the adjacent parcel, and the Property being originally developed to serve the Licensee's parcel, staff did not conduct an open bid process to solicit proposals from other users. Fair market value rent for the Property is estimated at $28,665.00 per year. The Licensee provides a unique service to the community in the operation of a private high school, and staff believes the following findings can be made, as required by City Council Policy F-7, Income Property (Attachment C): 9-2 Amendment No. One to Revocable License Agreement with PCHS Facilities, LLC, for Use of City -Owned Property at 1499 Monrovia Avenue March 8, 2022 Page 3 Redevelopment or converting the property to another use or changing the licensee would result in excessive vacancy, expenses or other costs which would outweigh other financial benefits; and 2. The Licensee provides a unique service to the community that might not otherwise be provided were full market value of the property be required. Proposed Amendment The proposed Amendment No. One to the Revocable License Agreement (Amendment) with PCHS Facilities LLC will extend the term of the Agreement for 10 years, through February 1, 2032. The Amendment does not modify any other terms of the Agreement. FISCAL IMPACT: The City does not currently budget for or receive any revenue from this property, which would continue for an additional 10 years if the proposed Amendment No. One is approved. ENVIRONMENTAL REVIEW: Staff recommends the City Council find this action is not subject to the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) (the activity will not result in a direct or reasonably foreseeable indirect physical change in the environment) and 15060(c)(3) (the activity is not a project as defined in Section 15378) of the CEQA Guidelines, California Code of Regulations, Title 14, Chapter 3, because it has no potential for resulting in physical change to the environment, directly or indirectly. NOTICING: The agenda item has been noticed according to the Brown Act (72 hours in advance of the meeting at which the City Council considers the item). ATTACHMENTS: Attachment A — Amendment No. One to the Revocable License Agreement Attachment B — Revocable License Agreement, as assigned Attachment C — City Council Policy F-7 — Income Property 9-3 Attachment A Amendment No. One to Revocable License Agreement Between the City of Newport Beach and PCHS Facilities LLC AMENDMENT NO. ONE TO REVOCABLE LICENSE AGREEMENT BETWEEN THE CITY OF NEWPORT BEACH AND PCHS FACILITIES LLC, ASSIGNEE OF KOBE STUDIOS, LLC, FOR THE USE OF CITY PROPERTY THIS AMENDMENT NO. ONE TO REVOCABLE LICENSE AGREEMENT BETWEEN THE CITY OF NEWPORT BEACH AND PCHS FACILITIES, LLC, FOR THE USE OF CITY PROPERTY ("Amendment No. One") is made and entered into as of this 31st day of January, 2022 ("Effective Date"), by and between the CITY OF NEWPORT BEACH, a California municipal corporation and charter city ("City"), and PCHS FACILITIES LLC, a California limited liability company ("Licensee"), individually referred to as "Party" or collectively "Parties". RECITALS A. On October 1, 2014, City and Kobe, Inc., a California corporation ("Kobe"), entered into a Revocable License Agreement for the Use of City Property ("License Agreement'), which granted Kobe an exclusive license over certain real property as described in the License Agreement ("License Area"), on the terms and conditions provided therein. B. On December 31, 2014, Kobe and Kobe Studios -HQ, LLC (formerly Kobe Studios, LLC), a Delaware limited liability company, ("Kobe Studios") entered into an Assignment and Assumption Agreement, whereby Kobe assigned to Kobe Studios all rights, title, and interest, legal or equitable, it had in and to the License Agreement, including the license to use the License Area. C. On August 30, 2017, Kobe Studios and Licensee entered into an Assignment and Assumption Agreement, whereby Kobe Studios assigned to Licensee all rights, title, and interest, legal or equitable, it had in and to the License Agreement, including the license to use the License Area. D. The Parties desire to allow Licensee the continued use the License Area on an exclusive basis for an extended term, subject to the covenants and conditions set forth in this Amendment No. One, NOW, THEREFORE, it is mutually agreed by and between the undersigned parties as follows: 1. TERM Section 4 of the License Agreement is amended in its entirety and replaced with the following: "The term of this License shall commence on the Effective Date and continue until February 1, 2032, unless terminated earlier as set forth herein." 9-5 2. INTEGRATED CONTRACT Except as expressly modified herein, all other provisions, terms, and covenants set forth in the License Agreement shall remain unchanged and shall be in full force and effect. The Parties may execute this Amendment No. One in multiple counterparts, each of which constitutes an original, and all of which, collectively, constitute only one Amendment. [SIGNATURES ON NEXT PAGE] PCHS Facilities LLC Page 2 IN WITNESS WHEREOF, the parties have caused this Amendment No. One to be executed on the dates written below. APPROVED AS TO FORM: CITY ATTORNEY'S OFFICE Date: 21 y1ZZ By: a,,P6 n C. rp 4,J&9 2- t 14 tiz itv Attornev ATTEST: Date: Bv: Leilani I. Brown City Clerk LESSOR: CITY OF NEWPORT BEACH, a California municipal corporation and charter city Date: in Grace K. Leung City Manager LICENSEE: PCHS FACILITIES LLC, a California limited liability company By: PACIFICA CHRISTIAN HIGH SCHOOL — ORANGE COUNTY, INC., a California nonprofit religious corporation Date: By: /&4 t,16t Keith Carlson Chief Executive Officer / President Date: By: Michael Hill Secretary [END OF SIGNATURES] PCHS Facilities LLC Page 3 9-7 PACIFICA CHRISTIAN Luis Garcia <Igarcia@pacificaoc.org> FW: Pacifica Christian High School - license at 1499 Monrovia Hill, Michael A. <mhill@garrettllp.com> Fri, Feb 18, 2022 at 9:24 AM To: Luis Garcia <Igarcia@pacificaoc.org>, Keith Carlson <Keith@cjattorneys.com> Cc: David O'Neil <doneil@pacificaoc.org>, Michael Torres <michael@newportpacificlaw.com> Thanks, Michael T! Luis—Attached is a copy of the original license agreement (my copy is undated and executed only by the City) and a copy of the assignment of that agreement to us when we purchased the site (I can't find a copy of the prior assignment from the original Kobe entity to the Kobe entity that was our seller). I've signed the amendment and will leave it with my receptionist so you can pick it up at your convenience today or next week. I'm leaving town for 10 days tomorrow, so I don't think I'll be able to make it over to drop it off and save you the trip—sorry. Thx, Mike Michael A Hit I Partner Garrett Stiepel Ryder LLP 3200 iris o! irr:r-.I, suite 850. Costa mesa. ,'A 92526 -R-m. 714.384.43001 Direct, 714.384.43132 1 Fax'. 714 31,4,4320 �nh_i1�i?caarretlip.com � .wraw.s3arr�l Ui;�.crm From: Luis Garcia Igarcia@pacificaoc.org Sent: Friday, February 18, 2022 6:08 AM To: Keith Carlson <Keith@cjattorneys.cnin> [Quoted text hidden] [Quoted text hidden] 2 attachments yw 15th Street Parking License (City -executed) (10686218xA2799).pdf 763K 15th Street Parking License Assignment (fully -executed) (10627191xA2799).pdf 1623K ASSIGNMENT AND ASSUMP'T'ION AGREEMENT This ASSIGNMENT AND ASSUMPTION AGREEMENT ("Second Assignment Agreement") is entered into as ofpcL,usv 3a , 2017 ("Effective Date"), by and between Kobe Studios - HQ, LLC (formerly Kobe Studios, LLC), a Delaware limited liability company ("Assi nor"), and PCHS Facilities LLC, a California limited liability company ("Assi nee"). RECITALS A. Kobe, Inc., a California corporation ("KI"), and the City of Newport Beach, a municipal corporation ("City"), entered into that certain Revocable License Agreement dated October 1, 2014 ("License Agreement"), which granted KI an exclusive license over certain real property as described in the License Agreement ("License Area"), on the terms and conditions provided therein. B. By way of that certain Assignment and Assumption Agreement between KI and Assignor dated December 31, 2014 (which City consented to on April 29, 2015) ("First Assignment Agreement"), KI assigned to Assignor all rights, title, and interest, legal or equitable, it had in and to the License Agreement, including the License to use the License Area. C. Assignor conveyed to Assignee, pursuant to that certain Agreement for Purchase and Sale of Real Property and Escrow Instructions between Assignor and Assignee dated March 20, 2017, certain real property in the City located at 1499 Monrovia Avenue, County of Orange, State of California, which adjoins the License Area. D. Assignor now desires to assign to Assignee all rights, title and interest it has under the License Agreement, including the License to use the License Area as provided therein. NOW, THEREFORE, in consideration of the benefits set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: I. DEFINITIONS 1.1 Defined Terms. Capitalized terms used in this Second Assignment Agreement and not otherwise defined herein are used herein as defined in the License Agreement. • • II. ASSIGNMENT OF LICENSE AGREEMENT 2.1 Assignment. Assignor hereby grants, conveys, assigns, and transfers to Assignee, its successors and assigns, all of the rights, title, and interest, legal or equitable, of Assignor in and to the License Agreement, including the License to use the License Area as provided therein. 2.2 Assumption of Liabilities. Assignee hereby assumes all Assignor's obligations and liabilities under the License Agreement to the extent the obligations and liabilities arise on or after the Effective Date of this Second Assignment. Without limitation, Assignee agrees to comply with and perform the obligations of Licensee under the License Agreement to the extent the obligations arise on or after the Effective Date of this Second Assignment Agreement. Assignor hereby retains all obligations and liabilities under the License Agreement, including, without limitation, Licensee's obligations under the License Agreement, to the extent the obligations and liabilities arose before the Effective Date of this Second Assignment Agreement. 2.3 Acknowledgement. Assignee hereby agrees to be bound to the agreed upon and acknowledged conditions of the License Area as set forth in the Agreement for Purchase and Sale of Real Property And Escrow Instructions dated July 24, 2014, between the City and KI, which is incorporated herein by this reference as though fully set forth herein. 2.4 No Modification of License Agreement. Nothing in this Assignment shall be construed to enlarge, restrict, or otherwise modify the terms of the License Agreement, or constitute a waiver or release by Assignee or Assignor of any liabilities, duties, or obligations imposed upon any of thein by the terms of the License Agreement. In the event of any conflict or ambiguity between the provisions of this Assignment and the License Agreement, the provisions in the License Agreement shall control to the extent of the conflict. 2.5 Enforceability. This Assignment is being executed by Assignee and Assignor and shall be binding upon each of them, and their respective successors and assigns, for the uses and for the purposes above set forth and referred to, and shall be effective as of the date hereof. 2.6 Governing Law. This Assignment shall be governed by and enforced in accordance with the laws of the State of California, without regard to the conflict of laws principles thereof. 2.7 Counterparts. This Assignment may be executed in any number of counterparts, and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement. Facsimile and e-mailed signatures shall be treated as if they were originals. [Signatures on following page] 2 9-10 IN WITNESS WHEREOF, this Assignment is executed and delivered as of the date first written above. ASSIGNOR: KOBE STUDIOS - 11Q, LLC, a Delaware limited liability company BY: ''`ter '"J .•� N I' obe Bryant T'tle: Manager ASSIGNEE: PCHS FACILITIES LLC, a California limited liability company By: PACIFICA CHRISTIAN HIGH SCHOOL - ORANGE COUNTY, INC., a California nonprofit religious corporation Its: Sole Member a, /Gsa uV Name: Keith Carlson Title: . Chief Executive Officer / President By: -1/L Name: Michael Hill Title: Secretary 9-11 CONSENT TO ASSIGNMENT AND RELEASE In connection with the attached Assignment and Assumption Agreement dated as of buc.usT 3 0 , 2017 (the "Second Assignment Agreement") between KOBE STUDIOS — HQ, LLC, a Delaware limited liability company ("Assignor"), and PCHS FACILITIES LLC, a California limited liability company ("Assi ig lee"), the undersigned, CITY OF NEWPORT BEACH, a municipal corporation ("City"), hereby: (a) consents to the assignment of all of Assignor's rights, title and interest under that certain Revocable License Agreement between the City and Kobe, Inc., a California corporation ("KI"), dated October 1, 2014 ("License Agreement"), obtained by way of that certain Assignment and Assumption Agreement between KI and Assignor (which was consented to by City on April 29, 2015), to Assignee including the License (as defined in the License Agreement) to use the License Area (as defined in the License Agreement) as provided in the License Agreement; and (b) releases Assignor and KI from all of their respective obligations and liabilities under the License Agreement to the extent the obligations and liabilities arise on or after the Effective Date of this Second Assignment Agreement. APPROVED AS TO FORM: CITY OF NEWPORT BEACH, OFFICE OF THE CITY ATTORNEY A California municipal corporation Date: 14 (t? Date: FlzZ i -7 r By: By: Aaro . aip UM FYI+`+I+? Dave Kiff City Attorney City Manager ATTEST: Date: By: Leilani PTrowi City Clerk 9-12 ASSIGNMENT AND ASSUMPTION AGREEMENT This ASSIGNMENT AND ASSUMPTION AGREEMENT ("Second Assi mment Agreement") is entered into as of AV6U5,T 3-0 , 2017 ("Effective Date"), by and between Kobe Studios - HQ, LLC (formerly Kobe Studios, LLC), a Delaware limited liability company ("Assi nor"), and PCHS Facilities LLC, a California limited liability company ("Assi nee"). RECITALS A. Kobe, Inc., a California corporation ("KI"), and the City of Newport Beach, a municipal corporation ("City"), entered into that certain Revocable License Agreement dated October 1, 2014 ("License Agreement"), which granted KI an exclusive license over certain real property as described in the License Agreement ("License Area"), on the terms and conditions provided therein. B. By way of that certain Assignment and Assumption Agreement between KI and Assignor dated December 31, 2014 (which City consented to on April 29, 2015) ("First Assignment Agreement"), KI assigned to Assignor all rights, title, and interest, legal or equitable, it had in and to the License Agreement, including the License to use the License Area. C. Assignor conveyed to Assignee, pursuant to that certain Agreement for Purchase and Sale of Real Property and Escrow Instructions between Assignor and Assignee dated March 20, 2017, certain real property in the City located at 1499 Monrovia Avenue, County of Orange, State of California, which adjoins the License Area. D. Assignor now desires to assign to Assignee all rights, title and interest it has under the License Agreement, including the License to use the License Area as provided therein. NOW, THEREFORE, in consideration of the benefits set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: DEFINITIONS 1.1 Defined Terms. Capitalized terns used in this Second Assignment Agreement and not otherwise defined herein are used herein as defined in the License Agreement. 9-13 II. ASSIGNMENT OF LICENSE AGREEMENT 2.1 Assignment. Assignor hereby grants, conveys, assigns, and transfers to Assignee, its successors and assigns, all of the rights, title, and interest, legal or equitable, of Assignor in and to the License Agreement, including the License to use the License Area as provided therein. 2.2 Assumption of Liabilities. Assignee hereby assumes all Assignor's obligations and liabilities under the License Agreement to the extent the obligations and liabilities arise on or after the Effective Date of this Second Assignment. Without limitation, Assignee agrees to comply with and perform the obligations of Licensee under the License Agreement to the extent the obligations arise on or after the Effective Date of this Second Assignment Agreement. Assignor hereby retains all obligations and liabilities under the License Agreement, including, without limitation, Licensee's obligations under the License Agreement, to the extent the obligations and liabilities arose before the Effective Date of this Second Assignment Agreement. 2.3 Acknowledgement. Assignee hereby agrees to be bound to the agreed upon and acknowledged conditions of the License Area as set forth in the Agreement for Purchase and Sale of Real Property And Escrow Instructions dated July 24, 2014, between the City and KI, which is incorporated herein by this reference as though fully set forth herein. 2.4 No Modification of License Agreement. Nothing in this Assignment shall be construed to enlarge, restrict, or otherwise modify the terms of the License Agreement, or constitute a waiver or release by Assignee or Assignor of any liabilities, duties, or obligations imposed upon any of thein by the terms of the License Agreement. In the event of any conflict or ambiguity between the provisions of this Assignment and the License Agreement, the provisions in the License Agreement shall control to the extent of the conflict. 2.5 Enforceability. This Assignment is being executed by Assignee and Assignor and shall be binding upon each of them, and their respective successors and assigns, for the uses and for the purposes above set forth and referred to, and shall be effective as of the date hereof. 2.6 Governiniz Law. This Assignment shall be governed by and enforced in accordance with the laws of the State of California, without regard to the conflict of laws principles thereof. 2.7 Counterparts. This Assignment may be executed in any number of counterparts, and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement. Facsimile and e-mailed signatures shall be treated as if they were originals. [Signatures on following page] 2 9-14 IN WITNESS WHEREOF, this Assignment is executed and delivered as of the date first written above. ASSIGNOR: KOBE STUDIOS - HQ, LLC, a Delaware limited liability company By: 1 i I obe Bryant Tittle: Manager ASSIGNEE: PCHS FACILITIES LLC, a California limited liability company By: PACIFICA CHRISTIAN HIGH SCHOOL — ORANGE COUNTY, INC., a California nonprofit religious corporation Its: Sole Member By: _ Name: Title: Naive: Title: Keith Carlson Chief Executive Officer / President Michael Hill Secretary 9-15 CONSENT TO ASSIGNMENT AND RELEASE In connection with the attached Assignment and Assumption Agreement dated as of tAuc.us'r 3 0 , 2017 (the "Second Assignment Agreement") between KOBE STUDIOS — HQ, LLC, a Delaware limited liability company ("Assignor"), and PCHS FACILITIES LLC, a California limited liability company ("Assi nee"), the undersigned, CITY OF NEWPORT BEACH, a municipal corporation ("City"), hereby: (a) consents to the assignment of all of Assignor's rights, title and interest under that certain Revocable License Agreement between the City and Kobe, Inc., a California corporation ("KI"), dated October 1, 2014 ("License Agreement"), obtained by way of that certain Assignment and Assumption Agreement between KI and Assignor (which was consented to by City on April 29, 2015), to Assignee including the License (as defined in the License Agreement) to use the License Area (as defined in the License Agreement) as provided in the License Agreement; and (b) releases Assignor and KI from all of their respective obligations and liabilities under the License Agreement to the extent the obligations and liabilities arise on or after the Effective Date of this Second Assignment Agreement. APPROVED AS TO FORM: CITY OF NEWPORT BEACH, OFFICE OF THE CITY ATTORNEY A California municipal corporation Date: �91/y 11-7 Date: ? Zz By: � By: I Aaro arp UM nYV'j III Dave Kiff City Attorney City Manager ATTEST: Date: Z Leilani VBrowi City Clerk 9-16 Attachment B Revocable License Agreement Between the City of Newport Beach and Kobe, Inc., as assigned to PCHS Facilities LLC 9-17 ASSIGNMENT AND ASSUMPTION AGREEMENT This ASSIGNMENT AND ASSUMPTION AGREEMENT ("Second Assignment Agreement") is entered into as of pvCusr 3a , 2017 ("Effective Date"), by and between Kobe Studios - HQ, LLC (formerly Kobe Studios, LLC), a Delaware limited liability company ("Assignor'), and PCHS Facilities LLC, a California limited liability company ("Assignee"). RECITALS A. Kobe, Inc., a California corporation ("KI"), and the City of Newport Beach, a municipal corporation ("City"), entered into that certain Revocable License Agreement dated October 1, 2014 ("License Agreement"), which granted KI an exclusive license over certain real property as described in the License Agreement ("License Area"), on the terms and conditions provided therein. B. By way of that certain Assignment and Assumption Agreement between KI and Assignor dated December 31, 2014 (which City consented to on April 29, 2015) ("First Assignment Agreement"), KI assigned to Assignor all rights, title, and interest, legal or equitable, it had in and to the License Agreement, including the License to use the License Area. C. Assignor conveyed to Assignee, pursuant to that certain Agreement for Purchase and Sale of Real Property and Escrow Instructions between Assignor and Assignee dated March 20, 2017, certain real property in the City located at 1499 Monrovia Avenue, County of Orange, State of California, which adjoins the License Area. D. Assignor now desires to assign to. Assignee all rights, title and interest it has under the License Agreement, including the License to use the License Area as provided therein. NOW, THEREFORE, in consideration of the benefits set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: I. DEFINITIONS 1.1 Defined Terms. Capitalized terms used in this Second Assignment Agreement and not otherwise defined herein are used herein as defined in the License Agreement. 9-18 II. ASSIGNMENT OF LICENSE AGREEMENT 2.1 Assignment. Assignor hereby grants, conveys, assigns, and transfers to Assignee, its successors and assigns, all of the rights, title, and interest, legal or equitable, of Assignor in and to the License Agreement, including the License to use the License Area as provided therein. 2.2 Assumption of Liabilities. Assignee hereby assumes all Assignor's obligations and liabilities under the License Agreement to the extent the obligations and liabilities arise on or after the Effective Date of this Second Assignment. Without limitation, Assignee agrees to comply with and perform the obligations of Licensee under the License Agreement to the extent the obligations arise on or after the Effective Date of this Second Assignment Agreement. Assignor hereby retains all obligations and liabilities under the License Agreement, including, without limitation, Licensee's obligations under the License Agreement, to the extent the obligations and liabilities arose before the Effective Date of this Second Assignment Agreement. 2.3 Acknowledgement. Assignee hereby agrees to be bound to the agreed upon and acknowledged conditions of the License Area as set forth in the Agreement for Purchase and Sale of Real Property And Escrow Instructions dated July 24, 2014, between the City and KI, which is incorporated herein by this reference as though fully set forth herein. 2.4 No Modification of License Agreement. Nothing in this Assignment shall be construed to enlarge, restrict, or otherwise modify the terms of the License Agreement, or constitute a waiver or release by Assignee or Assignor of any liabilities, duties, or obligations imposed upon any of them by the terms of the License Agreement. In the event of any conflict or ambiguity between the provisions of this Assignment and the License Agreement, the provisions in the License Agreement shall control to the extent of the conflict. 2.5 Enforceability. This Assignment is being executed by Assignee and Assignor and shall be binding upon each of them, and their respective successors and assigns, for the uses and for the purposes above set forth and referred to, and shall be effective as of the date hereof. 2.6 Governing Law. This Assignment shall be governed by and enforced in accordance with the laws of the State of California, without regard to the conflict of laws principles thereof. 2.7 Counterparts. This Assignment may be executed in any number of counterparts, and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement. Facsimile and e-mailed signatures shall be treated as if they were originals. [Signatures on following page] 2 9-19 IN WITNESS WHEREOF, this Assignment is executed and delivered as of the date first written above. ASSIGNOR: KOBE STUDIOS - HQ, LLC, a Delaware limited liability company By 'b6—Bryant T•tle: Manager ASSIGNEE: PCHS FACILITIES LLC, a California limited liability company By: PACIFICA CHRISTIAN HIGH SCHOOL — ORANGE COUNTY, INC., a California nonprofit religious corporation Its: Sole Member /�A W` C� B 1� Y• Name: Keith Carlson Title:.. Chief Executive Officer / President By: Name: Michael Hill Title: Secretary 9-20 CONSENT TO ASSIGNMENT AND RELEASE In connection with the attached Assignment and Assumption Agreement dated as of AUC.UST 3 0 , 2017 (the "Second Assignment Agreement") between KOBE STUDIOS — HQ, LLC, a Delaware limited liability company ("Assignor"), and PCHS FACILITIES LLC, a California limited liability company ("Assignee"), the undersigned, CITY OF NEWPORT BEACH, a municipal corporation ("City"), hereby: (a) consents to the assignment of all of Assignor's rights, title and interest under that certain Revocable License Agreement between the City and Kobe, Inc., a California corporation ("KI"), dated October 1, 2014 ("License Agreement"), obtained by way of that certain Assignment and Assumption Agreement between KI and Assignor (which was consented to by City on April 29, 2015), to Assignee including the License (as defined in the License Agreement) to use the License Area (as defined in the License Agreement) as provided in the License Agreement; and (b) releases Assignor and KI from all of their respective obligations and liabilities under the License Agreement to the extent the obligations and liabilities arise on or after the Effective Date of this Second Assignment Agreement. APPROVED AS TO FORM: CITY OF NEWPORT BEACH, OFFICE OF THE CITY ATTORNEY A California municipal corporation Date: ?l/y 11-7 Date: By: f"' By: Aaro arp ChM o0l,-Ila Dave Kiff City Attorney City Manager ATTEST: Date: gl,,7 7 By: .� Leilani row City Clerk 9-21 REVOCABLE LICENSE AGREEMENT BETWEEN THE CITY OF NEWPORT BEACH AND KOBE, INC. FOR THE USE OF CITY PROPERTY THIS REVOCABLE LICENSE AGREEMENT FOR USE OF CITY PROPERTY ("Agreement") is made and entered into as of this St day ofoM�/, 2014 ("Effective Date"), by and between the CITY OF NEWPORT BEACH, a California Municipal corporation ("City"), and KOBE, INC., a California corporation ("Licensee"), and is made with reference to the following: RECITALS A. City is a municipal corporation duly organized and validly existing under the laws of the State of California with the power to carry on its business as it is now being conducted under the statutes of the State of California and the Charter of the City. B. City is the owner of real property in the City of Newport Beach located at 1499 Monrovia Avenue, County of Orange, State of California, and further depicted in Exhibit "A" and incorporated herein by this reference ("Premises"). C. Licensee is the owner of the adjacent real property acquired pursuant to the Grant Deed recorded bWAV t , 2014, by the County Recorder of Orange County, California as Instrument No.`1A�W)0JT343 , and further depicted in Exhibit `B" and incorporated herein by this reference ("Property"). D. Licensee has requested that it be allowed to use a portion of the Premises ("License Area") for parking of vehicles and other uses to the benefit of the Property as those uses exist pursuant to that certain Agreement For Purchase And Sale Of Real Property And Escrow Instructions dated July 24, 2014 between City and Licensee ("Purchase Agreement"). E. City and Licensee desire to enter into this Agreement to allow Licensee to use the License Area on an exclusive basis, subject to the covenants and conditions set forth in this Agreement and pursuant to the Purchase Agreement. F. In consideration of the mutual promises and obligations contained in this Agreement, the receipt and sufficiency of which is hereby acknowledged, City hereby grants to Licensee the revocable right to occupy and use the License Area, and Licensee accepts the same on the following terms and conditions. NOW, THEREFORE, it is mutually agreed by and between the undersigned parties as follows: 1. LICENSE City grants an exclusive license ("License") to Licensee for the term of this Agreement for Licensee -to use the License Area, which is twelve thousand seven hundred seventy (12,770) square feet in size, for the uses and activities set forth in Section 6 of this Agreement. The LA2380366.2 223603-10001 9-22 License granted herein is subject to the terms, covenants and conditions hereinafter set forth, and Licensee covenants, as a material part of the consideration for this License, to keep and perform each and every term, covenant and condition of this Agreement. 2. USE OF THE LICENSE AREA Licensee's use of the License Area shall be limited to the uses set forth in Section 6 of this Agreement. No expansion or change of uses of the License Area from that existing as of the date of the Agreement For Purchase And Sale Of Real Property And Escrow Instructions, dated July 24, 2014, shall be permitted. 3. PERMITS AND LICENSES Licensee, at its sole expense, shall obtain and maintain during the term of this Agreement, all appropriate permits, licenses and certificates that may be required by any governmental agency including Licensor. 4. TERM The term of this License shall commence on the Effective Date, and continue until such time as the License Area is developed, the expiration of the Abatement Period (February 1, 2022) related to the Property; or unless terminated earlier as set forth herein, whichever occurs first. 5. LICENSE FEE/CONSIDERATION Pursuant to the Agreement For Purchase And Sale Of Real Property And Escrow Instructions, dated July 24, 2014, there shall be no fee for this License Agreement during the entire term of the License because adequate consideration was received by Licensor pursuant to the Agreement For Purchase And Sale Of Real Property And Escrow Instructions, dated July 24, 2014. 6. THE PURPOSE OF THIS LICENSE 6.1 The purpose of this License is to provide for the use of the License Area within the Premises pursuant to the Agreement For Purchase And Sale Of Real Property And Escrow Instructions, dated July 24, 2014. Licensee agrees to use the License Area only for the activities described herein, and not to use or permit the use of the License Area for any other purpose without first obtaining the prior written consent of City, which consent may be withheld in City's sole discretion. Acceptable activities include: 6.1.1 For the parking of vehicles associated with, and to meet the parking needs of, the existing office building located on the Property. 6.1.2 Circulation of vehicles between the public right-of-way, the Pren ices, and the Property; LA2380366.2 223603-10001 2 9-23 6.1.3 Sidewalk and pedestrian access from the public right-of-way, the Premises, and the Property; and 6.1.4 ReplacernentlRe-Use of the existing monument sign located on the Premises, for the benefit of the Property. 6.1.5 Maintenance, repair and replacement of all surfaces, coatings and paints, landscaping, lighting, parking barriers and stops, walkways, and planters currently existing on the Premises. 6.1.6 The provision of security on the Premises. 7. CONDITIONS OF LICENSE 7.1 Licensee shall comply with the following conditions prior to the commencement of use of the License Area. 7.1.1 Prohibited Activities: Parking and storage of constriction vehicles or equipment is expressly prohibited. Except as set forth in Sections 6.1.5 and 7.1.2, no improvements to the License Area are permitted without prior written approval of the City Manager. 7.1.2 Maintenance: Licensee shall be responsible for maintenance of the License Area including, but not limited to, the routine removal of foreign material, waste, and debris. Licensee's obligation to maintain the License Area shall include a regular preventative maintenance program, together with routine repairs caused by normal wear and tear, to be provided by a licensed service company acceptable to City. Licensee shall obtain approval from the City Manager for projects valued at more than five thousand dollars ($5,000), and shall obtain all required Building permits necessary for such repair. 7.1.2.1 City shall be entitled, with a Licensee representative, to inspect the License Area for compliance with the terms of this Agreement, and with all applicable Federal, State and local (including those of the City) government regulations. 7.1.3 Licensee shall be bound to the agreed upon and acknowledged conditions of the License Area as set forth in the Agreement For Purchase And Sale Of Real Property And Escrow Instructions, dated July 24, 2014. 7.1.4 Security; Licensee shall be solely responsible for security of the Premises, as it relates to the ownership and operation of the Property. 8. TERMINATION OF LICENSE 8.1 Notwithstanding the tern of this License, this License may be terminated during the term or any extended term in the following manner: 8.1.1 By Licensee: At any time, without cause upon the giving of ninety (90) days written notice of termination to City; LA2380366.2 223603-10001 3 9-24 8.1.2 By City: At any time, without cause upon the giving of ninety (90) days written notice of termination to Licensee; or 8.1.3 If, after written notice of default to Licensee of any of the teens or conditions of this License, Licensee fails to cure or correct the default within twenty (20) business days of receipt of written notice, City may immediately terminate the License. 8.1.4 Upon termination of License all improvements installed by Licensee after the date of this License, if any, shall be removed by Licensee upon request by the City. 9. ADMINISTRATION This Agreement will be administered by the Community Development Department. The Community Development Director or his/her designee shall be the Project Administrator and shall have the authority to act for City under this Agreement. The Project Administrator or his/her authorized representative shall represent City in all matters pertaining to this License. 10. INDEMNITY AND LIABILITY FOR DAMAGES 10.1 Licensee shall indemnify, defend and hold harmless City, its City Council, boards and commissions, officers, agents, volunteers, and employees (collectively, the "Indemnified Parties") from and against any and all claims (including, without limitation, claims for bodily injury, death or damage to property), demands, obligations, damages, actions, causes of action, suits, losses, judgments, fines, penalties, liabilities, costs and expenses (including, without limitation, attorney's fees, disbursements and court costs) of every kind and nature whatsoever (individually, a Claim; collectively, "Claims"), which may arise from or in any manner relate (directly or indirectly) to any breach of the teens and conditions of this License by Licensee, its agents, employees, vendors, etc., any work performed or services provided under this License by Licensee, its agents, employees, vendors, etc., including, without limitation, defects in workmanship or materials or Licensee's presence or activities conducted that relate in any way to this License (including the negligent and/or willful acts, errors and/or omissions of Licensee, employees, vendors, suppliers, and anyone employed directly or indirectly by any of them or for whose acts they may be liable or any or all of them). Notwithstanding the foregoing, nothing herein shall be construed to require Licensee to indemnify the Indemnified Parties from any Claim arising from the sole negligence or willful misconduct of the Indemnified Parties. Nothing in this indemnity shall be construed as authorizing any award of attorney's fees in any action on or to enforce the terms of this License. This indemnity shall apply to all claims and liability regardless of whether any insurance policies are applicable. The policy limits do not act as a limitation upon the amount of indemnification to be provided by the Licensee. 10.2 Licensee shall be liable and responsible for the security, repair and maintenance of the License Area to the extent necessitated by Licensee's use of the License Area under this License, for such time as this License is in effect. Licensee shall use care to protect the License Area and restore it to its original condition to the satisfaction of the City when the License Area is not in use by Licensee. 11. PROHIBITION AGAINST ASSIGNMENT AND TRANSFER LA2380366.2 223603-10001 4 9-25 This License shall not be assigned, transferred contracted or subcontracted out without the prior written approval of City which approval may be withheld in the City's sole discretion. 12. CONFLICT OF INTEREST The Licensee or its employees may be subject to the provisions of the California Political Refonn Act of 1974 ("Act"), which (a) requires such persons to disclose any financial interest that may foreseeably be materially affected by the work performed under this License, and (b) prohibits such persons from making, or participating in making, decisions that will foreseeably financially affect such interest. If subject to the Act, Licensee shall conform to all requirements of the Act Notwithstanding Section 9.1.3, failure to conform to the requirements of the Act constitutes a material breach and is grounds for immediate termination of this License by City. Licensee shall indemnify and hold harmless City for any and all claims for damages resulting from Licensee's violation of this Section. 13. NOTICE 13.1 All notices, demands, requests or approvals to be given under the terms of this License shall be given in writing, and conclusively shall be deemed served when delivered personally, or on the third business day after the deposit thereof in the United States mail, postage prepaid, first-class mail, addressed as hereinafter provided. All notices, demands, requests or approvals from Licensee to City shall be addressed to City at: Attn: Real Property Administrator City of Newport Beach Community Development 100 Civic Center Drive P.O. Box: 1768 Newport Beach, CA, 92658 Phone: (949) 644-3309 13.2 All notices, demands, requests or approvals from City to Licensee shall be addressed to Licensee at: Attn: Andrea Fairchild, President Kobe, Inc. 341 Bayside Drive, Suite 4 Newport Beach, CA 92660 Phone: (708) 203-5433 14. STANDARD PROVISIONS 14.1 Compliance with all Laws. Licensee shall at its own cost and expense comply with all statutes, ordinances, regulations and requirements of all governmental entities, including federal, state, county or municipal, whether now in force or hereinafter enacted. In addition, all work prepared by Licensee shall conform to applicable City, county, state and federal laws, rules, regulations and permit requirements and be subject to approval of the Project Administrator. LA2380366.2 223603-10001 9-26 14.2 Waiver. A waiver by either party of any breach, of any term, covenant or condition contained herein shall not be deemed to be a waiver of any subsequent breach of the same or any other term, covenant or condition contained herein, whether of the same or a different character, 14.3 Integrated Agreement. This Agreement represents the full and complete understanding of every bind or nature whatsoever between the parties hereto, and all preliminary negotiations and agreements of whatsoever kind or nature are merged herein. No verbal agreement or implied covenant shall be held to vary the provisions herein. 14.4 Interpretation. The terms of this Agreement shall be construed in accordance with the meaning of the language used and shall not be construed for or against either party by reason of the authorship of the License or any other rule of construction which might otherwise apply. 14.5 Amendments. This Agreement may be modified or amended only by a written document executed by both Licensee and City and approved as to form by the City Attorney. 14.6 Severability. If any term or portion of this Agreement is held to be invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions of this Agreement shall continue in full force and effect. 14.7 Controlling Law and Venue. The laws of the State of California shall govern this Agreement and all matters relating to it and any action brought relating to this Agreement shall be adjudicated in a court of competent jurisdiction in the County of Orange. 14.8 Taxes. Licensee acknowledges that the License granted herein may be subject to possessory interest taxes. Licensee shall have the sole obligation to pay any taxes, fees and assessments, plus applicable penalties and interest, which may be imposed by law and arise out of Licensee's License hereunder. Licensee shall indemnify, defend and hold hannless City against any and all such taxes, fees, penalties or interest assessed, or imposed against City hereunder. 149 No Third Party Rights. The Parties do not intend to create rights in or grant remedies to, any third party as a beneficiary of this Agreement, or of any duty, covenant, obligation or undertaking established herein. 14.10 No Attorneys' Fees. In the event of any dispute under the terms of this Agreement the prevailing party shall not be entitled to attorneys' fees. 14.11 Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. [SIGNATURES ON NEXT PAGE] LA2380366.2 223603-10001 6 9-27 IN WITNESS WHEREOF, the parties have caused this License to be executed on the dates written below. APPROVED AS TO FORM: OFFIC�(( F THE CITY ATTORNEY Date: 11 By Aaron C. Harp City Attorney ATTEST: Date: By: 46- 4 omw" Leilani I. Brown City Clerk F L kh:�1P09r'% CITY OF NEWPORT BEACH, A Califpzni a�_municipal corporation Date: (• By:_ Rush N. Hill, II Mayor LICENSEE: Kobe, Inc., a California corporation Date: By:_ Name Title: Date: By: Name: Title: Andrea Fairchild President [END OF SIGNATURES] Attachments: Exhibit A: License Area Exhibit B: Adjacent Property Exhibit C: Insurance Requirements LA2380366.2 223603-10001 IN WITNESS WHEREOF, the parties have caused this License to be executed on the dates written below. APPROVED AS TO FORM: CITY OF NEWPORT BEACH, OFFICE OF THE CITY ATTORNEY A California municipal corporation Date: Date: By: By: Aaron C. Harp Rush N. Hill, II City Attorney Mayor ATTEST: LICENSEE: Kobe, Inc., a California Date: corporation Date: By: By: Leilani I. Brown Name An rea Fairchild City Clerk Title: Presiders Date: 9 By: arae: Title: [END OF SIGNATURES] Attachments: Exhibit A: License Area Exhibit B: Adjacent Property Exhibit C: Insurance Requirements LA2380366.2_223603-10001 9-29 EXHIBIT A LICENSE AREA LA2380366.2 223603-10001 Exhibit A 9-30 Coast Surveying, Inc - July 14, 2014 EXHIBIT A-1 LEGAL DESCRIPTION THE NORTHERLY 60.00 FEET OF PARCEL 2 OF LOT LINE ADJUSTMENT NO. LA 2007-002, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS PER DOCUMENT RECORDED OCTOBER 4, 2007 AS INSTRUMENT NO. 2007000598931 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, BEING MORE PARTICULARLY DESCRIBED AS 15TH STREET (60.00 FEET WIDE) AS SAID 15TH STREET WAS VACATED AND ABANDONED BY RESOLUTION NO. 67-863 OF THE BOARD OF SUPERVISORS OF ORANGE COUNTY, CALIFORNIA, A CERTIFIED COPY OF WHICH WAS RECORDED AUGUST 11, 1967 IN BOOK 8339, PAGE 801 OF OFFICIAL RECORDS OF SAID ORANGE COUNTY. CONTAINING 12,770 SQUARE FEET, MORE OR LESS. ALL AS MORE PARTICULARLY SHOWN ON EXHIBIT A-2 ATTACHED HERETO AND MADE A PART HEREOF. DATED THIS 14TH DAY OF JULY, 2014. SAND =gip DEL'pG ll /1�1 (2� L. S. 5148 GWEN-VERA DEL CASTILLO, PLS 5108 0 � F' CAL\ J\ 114-031 9-31 Gob B 222 / s« o 39 N89'23'40"E 229.34' Q A o � �--N89 23'40"E 196.32' 30' 130' 15TH STREET rl 0 M N n o ! 30' 13n' 15TH STREET (601.00 FEET WIDE) AS VACATED AND ABANDONED 8Y RESOLUTION N0, 67-•863 OF THE BOARD OF SUPERVISORS OF ORANGE COUNTY, CALIFORNIA, A CERTIFIED COPY OF WHICH WAS RECORDED AUGUST 11, 1967 IN BOOK 8339, WAGE 301 OF OFFICIAL RECORDS OF SAID ORANGE COUNTY. A-2 ' ro 0 vq 9-32 n� N89'23'40"E 229.34' Q A o � �--N89 23'40"E 196.32' 30' 130' 15TH STREET rl 0 M N n o ! 30' 13n' 15TH STREET (601.00 FEET WIDE) AS VACATED AND ABANDONED 8Y RESOLUTION N0, 67-•863 OF THE BOARD OF SUPERVISORS OF ORANGE COUNTY, CALIFORNIA, A CERTIFIED COPY OF WHICH WAS RECORDED AUGUST 11, 1967 IN BOOK 8339, WAGE 301 OF OFFICIAL RECORDS OF SAID ORANGE COUNTY. A-2 ' ro 0 vq 9-32 EXHIBIT B ADJACENT PROPERTY LA23 80366.2223603-10001 Exhibit B 9-33 Coast Surveyi3tr, Ittc. hily 10, 2014 EXHIBIT B-1 LEGAL DESCRIPTION PARCEL 2 OF LOT LINE ADJUSTMENT NO. LA 2007-002, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS PER DOCUMENT RECORDED OCTOBER 4, 2007 AS INSTRUMENT NO, 2007000598931 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPT THEREFROM THE NORTHERLY 60.00 FEET, BEING MORE PARTICULARLY DESCRIBED AS 15TH STREET (60.00 FEET WIDE) AS SAID 15TH STREET WAS VACATED AND ABANDONED BY RESOLUTION NO. 67-863 OF THE BOARD OF SUPERVISORS OF ORANGE COUNTY, CALIFORNIA, A CERTIFIED COPY OF WHICH WAS RECORDED AUGUST 11, 1967 IN BOOK 8339, PAGE 801 OF OFFICIAL RECORDS OF SAID ORANGE COUNTY. CONTAINING 35,021 SQUARE FEET, MORE OR LESS. ALL AS MORE PARTICULARLY SHOWN ON EXHIBIT B-2 ATTACHED HERETO AND MADE A PART HEREOF. DATED -THIS 14" DAY OF JULY, 2014. 1 AND gyp DEL CSG � O L. S. 5108 _7 GWEN-VERA DEL CASTILLO, PLS 5108 9TF o� OF C A0� ,!N 114-031 9-34 RM 222130 - 39 30' 30 I .-- N89°23'40"E 229.34' ~� 0 A o Q o cg ! J CI 15TH STREET NB9'23�40 °E 196 ,32' zQ j r`� t. rr, pa i° n s � N 30'130' f ® 15TH STREET (60.00 FEET WIDE) AS VACATED AND ABANDONED BY RESOLUTION NO. 67-863 OF 'THE BOARD OF SUPERVISORS OF ORANGE COUNTY, CALIFORNIA, A CERTIFIED COPY OF WHICH WAS RECORDED AUGUST 11, 1967 IN BOOK 8339, PACE 801 OF OFFICIAL RECORDS OF SAID ORANGE COUNTY, 0 0 JOB #: 114-031.�t DATE: 7Z1 �I 14 E x N I I " B - 2 O,�-t -- ' 5 7 SURVEYING, INC. SCALE: I"=100' 15031 PARKWAY LOOP, SUITE 9 SHEET 1 OF 1 1 TUSTIN, CA 92760-65527 (714) 9tBw6266 9-35 EXHIBIT C INSURANCE REQUIREMENTS Provision of Insurance. Without limiting Licensee's indemnification of City, and prior to commencement of work, Licensee shall obtain, provide and maintain at its own expense during the term of this Agreement, policies of insurance of the type and amounts described in the attached Exhibit B 2. Acceptable Insurers. All insurance policies shall be issued by an insurance company currently authorized by the Insurance Commissioner to transact business of insurance in the State of California, with an assigned policyholders' Rating of A- (or higher) and Financial Size Category Class VII (or larger) in accordance with the latest edition of Best's Key Rating Guide, unless otherwise approved by the City's Risk Manager. 3. Coverage Requirements. A. Workers' Compensation _ Insurance. Licensee shall maintain Workers' Compensation Insurance, statutory limits, and Employer's Liability Insurance with limits of at least one million dollars ($1,000,000) each accident for bodily injury by accident and each employee for bodily injury by disease in accordance with the laws of the State of California, Section 3700 of the Labor Code. B. Licensee shall submit to City, along with the certificate of insurance, a Waiver of Subrogation endorsement in favor of City, its officers, agents, employees and volunteers, C. General Liability Insurance. Licensee shall maintain commercial general. liability insurance, and if necessary umbrella liability insurance, with coverage at least as broad as provided by Insurance Services Office form CG 00 01, in an amount not less than one million dollars ($1,000,000) per occurrence, two million dollars ($2,000,000) general aggregate. The policy shall cover liability arising from premises, operations, products -completed operations, personal and advertising injury, and liability assumed under an insured contract (including the tort liability of another assumed in a business contract) with no endorsement or modification limiting the scope of coverage for liability assumed under a contract. D. Automobile Liability Insurance. Licensee shall maintain automobile insurance at least as broad as Insurance Services Office form CA 00 01 covering bodily injury and property damage for all activities of the Licensee arising out of or in connection with Work to be performed under this Agreement, including coverage for any owned, hired, non -owned or rented vehicles, in an amount not less than one million dollars ($1,000,000) combined single limit each accident. E. Property Insurance — Construction. In the event Licensee installs any improvements, this coverage will be required in the amounts requested by City. LA2380366.2 223603-10001 Exhibit C 9-36 4. Other Insurance Requirements. The policies are to contain, or be endorsed to contain, the following provisions: A. Waiver of Subrogation. All insurance coverage maintained or procured pursuant to this agreement shall be endorsed to waive subrogation against City, its elected or appointed officers, agents, officials, employees and volunteers or shall specifically allow Licensee or others providing insurance evidence in compliance with these requirements to waive their right of recovery prior to a loss. Licensee hereby waives its own right of recovery against City, and shall require similar written express waivers from each of its contractors. B. Additional Insured Status. All liability policies including general liability, excess liability, pollution liability, and automobile liability, if required, but not including professional liability, shall provide or be endorsed to provide that City and its officers, officials, employees, and agents shall be included as insureds under such policies. C. Primary and Non Contributory. All liability coverage shall apply on a primary basis and shall not require contribution from any insurance or self-insurance maintained by City. D. Notice of Cancellation. All policies shall provide City with thirty (30) calendar days notice of cancellation (except for nonpayment for which ten (10) calendar days notice is required) or nonrenewal of coverage for each required coverage. 5. Additional Agreements Between the Parties. The parties hereby agree to the following: A. Evidence of Insurance. Licensee shall provide certificates of insurance to City as evidence of the insurance coverage required herein, along with a waiver of subrogation endorsement for workers' compensation and other endorsements as specified herein for each coverage. Insurance certificates and endorsement must be approved by City's Risk Manager prior to commencement of performance. Current certification of insurance shall be kept on file with City at all times during the term of this Agreement. City reserves the right to require complete, certified copies of all required insurance policies, at any time. B. City's Right to Revise Requirements. The City reserves the right at any time during the term of the Agreement to change the amounts and types of insurance required by giving the Licensee sixty (60) days advance written notice of such change. If such change results in substantial additional cost to the Licensee, the City and Licensee may renegotiate Licensee's compensation. C. Enforcement _of Agreement Provisions. Licensee acknowledges and agrees that any actual or alleged failure on the part of the City to inform Licensee of non- compliance with any requirement imposes no additional obligations on the City nor does it waive any rights hereunder. LA2380366.2 223603-10001. Exhibit C 9-37 D. Requirements not Limiting. Requirements of specific coverage features or limits contained in this Section are not intended as a limitation on coverage, limits or other requirements, or a waiver of any coverage normally provided by any insurance. Specific reference to a given coverage feature is for purposes of clarification only as it pertains to a given issue and is not intended by any party or insured to be all inclusive, or to the exclusion of other coverage, or a waiver of any type. E. Self-insured Retentions. Any self-insured retentions must be declared to and approved by City. City reserves the right to require that self-insured retentions be eliminated, lowered, or replaced by a deductible. Self-insurance will not be considered to comply with these requirements unless approved by City. F. City Remedies for Non -Com 1p iance, If Licensee or any subcontractor fails to provide and maintain insurance as required herein, then City shall have the right but not the obligation, to purchase such insurance, to terminate this agreement, or to suspend Licensee's right to proceed until proper evidence of insurance is provided. Any amounts paid by City shall, at City's sole option, be deducted from amounts payable to Licensee or reimbursed by Licensee upon demand. G. Timely Notice of Claims. Licensee shall give City prompt and timely notice of claims made or suits instituted that arise out of or result from Licensee's performance under this Agreement, and that involve or may involve coverage under any of the required liability policies. H. Licensee's Insurance. Licensee shall also procure and maintain, at its own cost and expense, any additional kinds of insurance, which in its own judgment may be necessary for its proper protection and prosecution of the Work. LA2380366.2 223603-10001 Exhibit C UM Attachment C City Council Policy F-7 — Income Property 9-39 F-7 INCOME AND OTHER PROPERTY The City owns and manages an extensive and valuable assortment of property including streets, parks, beaches, public buildings and service facilities. The City also owns or ground leases and/or operates a yacht basin, resort hotel and apartment property, a luxury residential development and various other income-producing properties. Much of the income property is tidelands, filled tidelands or waterfront. Unencumbered fee value of income property is substantial. As owner/manager of property, the City is the steward of a public trust, and state law requires the City to maximize its returns on state -managed property or be subject to a charge of making a gift of public funds. Nevertheless, the City Council recognizes the importance of this property not only as a revenue generator, but also as a means to provide otherwise financially less feasible uses and facilities that benefit the community. In managing its property, the City will continually evaluate the potential of all City owned property to produce revenue. This may include leasing or licensing unused land, renting vacant space, and establishing concessions in recreation areas or other similar techniques. The City Council will evaluate the appropriateness of establishing new income generating opportunities on City controlled areas using sound business principles and after receiving input from neighbors, users and the public. The policy of the City Council is that income and other property be held and managed in accordance with the following: A. Whenever a lease, license, management contract, concession or similar action regarding income property is considered by the City, an analysis shall be conducted to determine the maximum or open market value of the property. This analysis shall be conducted using appraisals or other techniques to determine the highest and best use of the property and the highest income generating use of the property. B. All negotiations regarding the lease, license, management contract, concession, or similar action regarding income property shall include review of an appraisal or analysis of the use being considered for the property conducted by a reputable and independent professional appraiser, real estate consultant, or business consultant. C. The City shall seek, whenever practical and financially advantageous, both in the short and long term, to operate or manage all property and facilities directly with City staff or contractors, provided staff have the expertise needed to competently do so, or to oversee the work of contractors. 11 WIN F-7 D. In most negotiations regarding the lease, license, management contract, concession, or similar action regarding an income or other property, the City shall seek revenue equivalent to the open market value of the highest and best use; and, whenever practicable the City shall conduct an open bid or proposal process to ensure the highest financial return. E. However, in some circumstances the City may determine that use of a property by the public for recreational, charitable or other nonprofit purpose is preferred and has considerable public support, in which case the City may determine that non- financial benefits justify not maximizing revenue from such property. In such circumstances, the City has a vested interest in ensuring that the lessee of such property operates the activities conducted on or from the property in the manner that has been represented to the City throughout the duration of any lease or contract with the City. F. Whenever less than the open market or appraised value is received or when an open bid process is not conducted, the City shall make specific findings setting forth the reasons thereof. Such findings may include but need not be limited to the following: 1. The City is prevented by tideland grants, Coastal Commission guidelines or other restrictions from converting the property to another use. 2. Redevelopment of the property would require excessive time, resources, expertise and costs, which would outweigh other financial benefits. 3. Converting the property to another use or changing the operator, manager, concessionaire, licensee, or lessee of the property would result in excessive vacancy, relocation or severance costs, real estate commissions, tenant improvement allowances, expenses or rent concessions which would outweigh other financial benefits. 4. Converting residential property to another use or opening residential leases to competitive bid would create recompensable liabilities and other inequities for long-term residents. 5. The property provides an essential or unique service to the community or a clearly preferred use that enjoys substantial support in the community that might not otherwise be provided were full market value of the property be required. 2 9-41 F-7 6. The property serves to promote other goals of the City such as affordable housing, preservation of open space, uses available to the public or marine related services. 7. If the lessee is not (a) a statewide or national nonprofit organization, or (b) a public entity or subdivision thereof, then the City finds that the By -Laws and charter documents of such lessee (i) establishes a procedure wherein the election of directors of such lessee is accomplished by an open, democratic and transparent process that allows members to vote, (ii) has a governance and operational structure that is consistent with best practices for non-profit public benefit corporations as determined by the City Council, and (iii) cannot be amended to affect subparts (i) or (ii) without the prior written consent of the City as lessor. G. Generally, lengths of licenses, leases, management contracts, concessions, or similar agreements will be limited to the minimum necessary to meet market standards or encourage high quality improvements and will contain appropriate reappraisal and inflation protection provisions. Also, all agreements shall contain provisions to assure complete audits periodically through their terms. H. All negotiations regarding the license, lease, management contract, concession or similar action regarding income property shall be conducted by the City Manager or his/her designee under the direction of any appropriate City committees. I. To provide an accurate accounting of actual net revenues generated by the City's income property, all costs directly attributable or allocable to the management of a specific income property shall be charged against the gross revenues collected on that property in the fiscal year the costs are incurred. Costs so chargeable include, but are not limited to, property repairs and maintenance, property appraisals, and consultant fees, as authorized by the City Council, City Manager, or by this Income Property Policy. J. The City Manager or his/her designee is authorized to sign a license, lease, management contract, concession, or similar agreement or any amendment thereto, on behalf of the City. Notwithstanding the foregoing, the City Manager or his/her designee, or a City Council member, may refer any license, lease, management contract, concession or similar agreement or any amendment thereto, to the City Council for its consideration and/or action. K. The City's portfolio of quality income producing properties adds an element of diversification to a portfolio otherwise invested primarily in financial assets. Certain of those income properties are restricted from sale by their terms of grant, state agency regulations or rules, other federal and state guidelines, private 3 9-42 F-7 covenant or agreement or otherwise. For those properties not so restricted from sale, an analysis shall be prepared to determine the following prior to such income producing property being offered for sale: 1. The maximum open market value of the City's interest in the property in its as is condition. 2. If the property is in an important location, a determination of the possible future consequences of the City no longer controlling that property. 3. If the current rent is contractually low and significant rent increases are likely within a finite period. 4. The likelihood of significant increases in the ability of the property to generate income after the expiration of any current lease of the property. 5. The likelihood of a lease extension being requested by the tenant and the ability to substantially increase rents or require significant improvements to enhance the utility and the value of the property as consideration for granting such an extension. 6. The value of the revenue stream from (i) lease income over the life of an existing lease and/or (ii) likely lease revenue if an existing lease were to be renewed or the property re -let to a different tenant; and/or (iii) lease income from the property if it were to be converted to its highest and best use, compared with the financial benefits of the use of the proceeds of a sale and if, considering the totality of the circumstances, such use of the proceeds of a sale is preferable to retaining the property in question. Adopted - July 27,1992 Amended - January 24,1994 Amended - February 27,1995 Amended - February 24,1997 Amended - May 26,1998 Amended - August 11, 2009 Amended - May 14, 2013 Amended - February 12, 2019 Formerly F-24 0 9-43