19-017 Rent Deferral Letter of Understanding #2 07-30-2020Page 1 of 2
Letter of Understanding
This Letter of Understanding is between the City of Cupertino, a municipal
corporation, 10300 Torre Avenue, Cupertino, CA 95014 (“Lessor”), and
Eunju Lim, 10800 Torre Avenue, Cupertino, CA 95014 (“Lessee”).
Whereas, on 3/1/2019 a Lease Agreement was entered into by and
between Lessor and Lessee for the lease of premises located on Lessor’s
property at the north west corner of the Cupertino public library building
at 10800 Torre Avenue, Cupertino, CA 95014, hereinafter the “Leased
Premises”. The agreement will expire on 2/28/2024; and
Whereas, on 4/18/2020, the Lessor and Lessee agreed to a temporary
three (3) month deferral of rent payments for the Leased Premises,
hereinafter the “First Deferral Period”; and
Whereas, the Lessor and Lessee conditionally agree to a second
temporary two (2) month deferral of rent payments for the Leased
Premises, hereinafter the “Second Deferral Period”; and
Whereas, this Letter of Understanding is intended to guide the manner in
which Lessor and Lessee agree to defer the rent.
Now be it proclaimed, that the Lessor and Lessee understand and
agree as follows:
1.The Lessor will allow the Lessee to defer rent payments for the
Leased Premises for an additional two (2) months, beginning August 1,
2020, and ending October 1, 2020. All rent due for the First Deferral Period
and the Second Deferral Period will be due on October 1, 2020 and will
include the rent for the Leased Premises due for the months of May, June,
July, August, September and October. The deferral of rent is not a waiver
of Lessee’s requirement to pay rental amounts.
2.Except as expressly modified herein, all other terms and covenants
set forth in the original 3/1/2019 Lease Agreement shall remain the same
and shall be in full force and effect.
This Letter of Understanding sets forth the entire understanding between
the parties. No further amendment or modification of this Lease shall be
binding or valid except by written instrument and signed by the parties.
By their signatures hereto, the Parties agree in good faith to honor the
terms outlined in this Letter of Understanding.
Letter of Understanding - Second Rent Deferral Coffee Society
Page 2 of 2
Lessee Lessor
_______________ _________ __________________ ___________
Eunju Lim Date Deb Feng Date
City Manager
City of Cupertino
07/30/2020