Title
Transportation Department recommending Chairman be authorized to sign Subordination, Acknowledgement of Lease Assignment, Non-Disturbance and Attornment Agreement, related to Lease No. 309-L0811, with Durock Properties LLC.
Body
Background:
The County entered into Lease #309-L0811 with Durock Properties LLC dated 10/22/07, and executed by the Board of Surpervisors on 11/6/07, for approximately 10,346 square feet of space located at 3974 Durock Road, Shingle Springs, CA. Susequent to entering into the initial Lease, an Amendment I to Lease #309-L0811, dated 3/11/08 was executed by the Board of Supervisors on 3/25/08. The Amendment changed the name on the Lease to Durock Road LLC, as well as the mailing address of the owner for the Payment and Notices sections of the Lease.
Reason for Recommendation:
The Owner is currently obtaining new financing on the property, and Mechanics Bank has requested that the County approve and execute a Subordination, Acknowledgement of Lease Agreement, Non-Disturbance and Attornment Agreement (Agreement). This Agreement has been reviewed by County DOT staff and County Counsel's Office, and there is no objection to the execution of said Agreement.
Action to be taken following Board approval:
1) Chairman of the Board of Supervisors to sign the Agreement in the presence of a Notary Public.
2) Clerk of the Board to return the orignal Agreement to DOT Property Services staff.
District/Supervisor:
Jack Sweeney, District 3
Contact:
James W. Ware, P.E.,
Director of Transportation
Concurrences: County Counsel