RES 2026001 - Laserfiche WebLink

EXHIBIT B AMENDMENT TO GROUND LEASE THIS AMENDMENT TO GROUND LEASE (this "Agreement") dated for reference as of January , 2026, is executed by and among OAHS Promenades LP, a California limited partnership ("Lessee"), and the City of Pleasanton, a California municipal corporation (the "City" and/or the "Lessor"). Lessee and City are collectively referred to herein as the "Parties." RECITALS A. City is the owner of the fee interest in that certain real property located in the City of Pleasanton, Alameda County, California on Case Avenue, and more particularly described in Exhibit A attached hereto (the"Property"). B. Lessee's predecessors in interest, Case Avenue Associates and Promenade Housing Associates (collectively, the "Prior Lessee") and City, entered into that certain Ground Lease of the Property dated as of April 1, 1996 (the "Original Ground Lease"). A memorandum of the Ground Lease was recorded in the official records of Alameda County ("Official Records") on April 10, 1996 as Instrument No. 96-088636, and subsequently amended. C. Pursuant to the Original Ground Lease, the Prior Lessee developed a portion of the Property as a 78-unit market-rate multifamily rental residential project (the "Market Rate Project") and a portion of the Property as a 68-unit affordable multi-family rental residential Project (the "Affordable Project" and together with the Market Rate Project, collectively the "Project"). D. Prior Lessee conveyed the Project and assigned all of its rights, title and interests in the Original Ground Lease to Lessee, and the City consented to such assignment pursuant to that certain Assignment and Assumption of Ground Lease, Consent to Transfer of Project and Grant of Option to Extend the Ground Lease Term (the "Assignment" and together with the Original Ground Lease, the "Ground Lease") entered into by and among Prior Lessee, Lessor and Lessee effective as of August 27, 2024, and Lessee became the owner of the Project and the lessee under the Ground Lease. Such Assignment was recorded in the Official Records on August 30, 2024 as Instrument No. 2024106763. E. Lessee has obtained a mortgage loan insured by the U.S. Department of Housing and Urban Development ("HUD") and made by Berkadia Commercial Mortgage LLC, a Delaware limited liability company ("Lender"). The insured loan is secured by a Security Instrument on the leasehold estate set forth in the Ground Lease(the "HUD Loan"). F. HUD requires as a condition of its insuring the HUD Loan, that the Lessee and Lessor attach a Lease Addendum (HUD-92070M) to the Ground Lease (the "HUD Lease Addendum"). 4936-6057-3568 v3