FIFTH AMENDMENT TO LEASE
THIS FIFTH AMENDMENT TO LEASE AGREEMENT (this “Amendment”) is entered into as of the 3rd day of August, 2015, by and between STADIUM PROMENADE LLC, a California limited liability company (“Landlord”), successor-in-interest to Syufy Enterprises, a California partnership (“Original Landlord”) and CENTURY THEATRES, INC., a California corporation (“Tenant”), successor-in-interest to Century Theatres, Inc., a Delaware corporation (“Original Tenant”).
R E C I T A L S:
A.Original Landlord and Original Tenant, entered into a certain Century Stadium Promenade Lease, dated as of October 1, 1996 (the “Original Lease”), for certain Premises located in the City of Orange, Orange County, California. The Original Lease has been amended by that certain First Amendment to Lease, dated as of April 15, 2005, that certain Second Amendment to Lease, dated as of September 29, 2005, that certain Third Amendment to Lease, dated as of August 5, 2006, and that certain Fourth Amendment to Lease, dated as of August 15, 2014. The Original Lease, as so amended, is referred to herein as the “Lease”.
C.Tenant desires to install (or cause to
be installed) certain energy storage equipment at the Premises and in the Common Area of the Entire Premises.
D.Landlord and Tenant now desire to amend the Lease, upon the terms and conditions set forth in this Amendment.
A G R E E M E N T S
NOW THEREFORE, for good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, the Lease is hereby modified and amended, and Landlord and Tenant hereby agree, as follows:
1.Recitals Incorporated; Certain Defined Terms. The Recitals set forth above are incorporated into this Amendment and shall be deemed terms and provisions hereof, the same as if fully set forth in this Paragraph 1. Capitalized terms that are used but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Lease.
2.Common Area: Notwithstanding anything in the Lease to the contrary, Tenant may install (or cause to be installed) “Energy Storage Equipment” (“ESE”) (portions of which are described as “Superpacks” on Exhibit “A”, attached hereto and made a part hereof) within the Common Area adjacent to the theatre building (“Theatre Building”) in the locations depicted on Exhibit “A” and in accordance with the plans set forth in Exhibit “A”. The ESE shall be used for the storage of electricity to be used by Tenant in the Premises during peak times for relief of load on the electric grid. However, Tenant shall have no right to sell or transfer such stored electricity to any other tenant in the Entire Premises.
3.Installation and Maintenance: Notwithstanding anything in the Lease to the contrary, Tenant shall be solely responsible, at Tenant’s sole cost and expense, for (i) the installation, maintenance, repair and removal of the ESE, and (ii) any damage caused to the Theatre Building, Premises, Common Area or any other portion of the Entire Premises as a result of Tenant's installation, use, maintenance, operation, repair or removal of the ESE. Without limiting the foregoing, Tenant's rights under this Amendment shall be subject to the following:
a. Tenant, at its sole cost and expense, shall obtain all governmental approvals, licenses and permits as may be required for the installation, use, operation and removal of the ESE and the installation, use, operation, maintenance, repair, replacement and removal of the ESE shall all be done in accordance with all applicable laws.
b. Upon the earlier of the expiration or earlier termination of the Term of the Lease or the vacation of the Premises by Tenant, Tenant shall, at Tenant’s sole cost and expense, remove the ESE and all of its components in accordance with the then current National Electric Code and return the affected areas of the Common Area, Premises and Theatre Building to their original condition (ordinary wear and tear excepted) prior to the installation of the ESE, including, without limitation, restoring electrical service to the Premises and Theatre Building at the same level and with the same type of electrical service as existed before the installation of the ESE.
c. Tenant, at its sole cost and expense, shall maintain and repair (or cause to be maintained and repaired) the ESE in good condition and repair throughout the Lease Term.