HomeMy WebLinkAboutWest Ada Recreation District Golf Course Operations Assignment of Lease First Amendment Lakeview DocuSign Envelope ID:Al 69FE8E-714A-4634-B4E9-E7F2C473F1 CC
FIRST AMENDMENT to
ASSIGNMENT OF LEASE FOR THE PROVISION OF GOLF COURSE OPERATIONS AT
CITY OF MERIDIAN'S LAKEVIEW MUNICIPAL GOLF COURSE
This FIRST AMENDMENT to ASSIGNMENT OF LEASE FOR THE PROVISION OF GOLF
COURSE OPERATIONS AT CITY OF MERIDIAN'S LAKEVIEW MUNICIPAL GOLF COURSE
("First Amendment") is entered into this 25th day of June , 2024,by and between the City of
Meridian, a municipal corporation organized under the laws of the State of Idaho ("City"), and the West
Ada Recreation District, a recreation district organized under the laws of the State of Idaho ("WARD")
(collectively, "Parties").
WHEREAS,the Parties seek by this First Amendment to modify the Assignment of Lease for
the Provision of Golf Course Operations at Meridian's Lakeview Municipal Golf Course executed by
the Parties on August 11, 2020 ("August 11, 2020 Assignment of Lease"), a copy of which is attached
hereto as Exhibit A;
NOW, THEREFORE, in consideration of the mutual covenants of the parties, the Parties
agree as follows:
A. TERM MODIFIED. Section 3 of the of the August 11, 2020 Assignment of Lease shall be replaced
by language to read as follows:
3. Term. The term of the assigned Lease Agreement shall be from the effective date of the
assignment until September 30, 2024, unless earlier terminated.
B. NO ADDITIONAL PROVISIONS. The Parties agree that except as expressly modified by this First
Amendment, all provisions of the original August 11, 2020 Assignment of Lease shall remain in
full force and effect. No other understanding, whether oral or written, whether made prior to or
contemporaneously with this First Amendment shall be deemed to enlarge, limit or otherwise affect
the operation of the August 11, 2020 Assignment of Lease or this amendment thereto.
IN WITNESS WHEREOF,the parties shall cause this First Amendment to be executed by
their duly authorized officers to be effective as of the day and year first above written.
WESTERN ADA RECREATION DISTRICT:
DocuSigned by:
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Shaun Wardle, Board President
CITY OF MERIDIAN: Attest:
Robert E. Simison, Mayor 6-25-2024 Chris Johnson, City Clerk 6-25-2024
FIRST AMENDMENT TO AUGUST 11,2020 ASSIGNMENT OF LEASE PAGE I
DocuSign Envelope ID:Al 69FE8E-714A-4634-B4E9-E7F2C473F1 CC
EXHIBIT A
AUGUST 11,2020 ASSIGNMENT OF LEASE
FIRST AMENDMENT TO AUGUST 11,2020 ASSIGNMENT OF LEASE PAGE 2
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Exhibit A
ASSIGNMENT OF LEASE
FOR THE, PROVISION OF GOLF COURSE OPERATIONS AT
CITY OF MERIDIAN'S LAKEVIEW MUNICIPAL GOLF COURSE
This ASSIGNMENT OF LEASE entered into by the City of Meridian, an Idaho
municipal corporation, ("City")as Lessor and the Western Ada Recreation District, a Recreation
District created and organized under Title 3 I, Chapter 43 of the Idaho Code ("District") as
"Lessee".
WITNESSETH, that for and in consideration of the mutual promises, covenants and
agreements contained herein, the parties hereby agree as follows:
I. CONSENT TO ASSIGNMENT OF LEASE—CONTINGENT ON SALE OF ASSETS
A. Provided that transaction contemplated in the Asset Purchase Agreement between
Lakeview Meridian Investors LLC and District has closed and District has become
the rightful owner of the Assets transferred by said Asset Purchase Agreement, City
does provide its contingent consent to the assignment of that certain lease agreement
dated May 17, 2005 between City and Lakeview Meridian Investors, LLC, (the
Assignor) to Lessee, subject to the amended terms and conditions contained herein.
B. Any waiver by District of the Seller's Covenants, Representations, Warranties, and
agreement to pay Closing Date Indebtedness made in the Asset Purchase Agreement
must be approved by City in order for the City's assignment of the Lease to become
effective.
2. GRANT OF AUTHORITY; LEASED PREMISES
A. The City accepts the Lessee as lessee of the Lease at the Lakeview Golf Course
and understands that Lessee has all of the rights and obligation of the original
lease, except as modified herein.
B. Lessee acknowledges personal inspection of the golf premises and the
surrounding area and evaluation of the extent to which the physical condition
thereof will affect the operation of the golf course. Lessee accepts the demised
premises in its present condition and agrees to make no demands upon the City
for any improvements or alteration thereof.
C. Ownership of all existing structures, and of all structures, buildings and/or
improvements currently located upon the ]eased premises, and a]I alterations,
additions or betterments thereto (the items included in the Description of Assets in
the Asset Purchase Agreement), shall immediately vest and be vested in City after
the term hereof, without compensation being paid therefore. Such structures,
buildings and/or improvements shall be surrendered to City with the remainder of
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the leased premises upon tennination of the Lease Agreement. As a condition of
this Assignment of Lease, District shall execute all appropriate Bills of Sale and
other documentation to effectively transfer title of all WARD Leasehold Assets to
City upon termination of the Lease Agreement.
3. TERM
A. As additional consideration for City's granting of this Assignment of Lease, the
teen of the assigned Lease agreement shall be from the effective date of the
assignment until September 30, 2023 unless earlier terminated at the option of
District.
B. The Lessee DOES NOT have the option of renewing the Lease agreement beyond
the term ending September 30, 2023.
4, PAYMENT OF RENT
In consideration of Lessee's purchase of the golf course leasehold assets and the benefit
provided to the public, which consists largely of the same taxpayer base as the City,
Lessee shall not be required to pay any periodic rent payments to City.
5. INCORPORATION OF TERMS
All terms and conditions of the May 17, 2005 Lease agreement and any addenda thereto
that are not inconsistent with the terms of this Assignment of Lease shall remain in effect
and are incorporated herein by this reference.
IN WITNESS WHEREOF, the parties hereto have subscribed their names this 1 Ith day of
August 2020.
WESTERN ADA RECREATION DISTRICT:
By:
Shat ardle, Board President
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