Common Contracts

Subject: Ground Lease Agreement – RM Ventures LLC, d.b.a In the Wood Grill and Bar for Nonexclusive Use of Elmwood Parking Lot Pedestrian Paseo

Ground Lease Agreement • June 15th, 2023 • California

• Contract Type
  Ground Lease Agreement
• Filed
  June 15th, 2023
• Jurisdiction
  California

This land lease agreement for nonexclusive use of 557 square feet anticipates total revenue of $19,156 for the initial ten (10) year term. The initial monthly price per square foot is $0.25 with an annual adjustment of 3% beginning the second year after the Commencement Date of the lease. The tenant is also required to maintain the entire width and length of the Paseo, including the pedestrian path, clean and free of trash on a daily basis. Rent will be deposited into the Off-Street Parking Fund for Surface Parking Lot Revenue.