HomeMy WebLinkAbout1996-02-12 96-113 ORDERCOUNCIL ACTION
Item No. 96-113
Date February 12. 1996
Item/Subject: Authorizing Execution of Amendment to Bangor
Raceway Lease Agreement
Responsible Department: Legal
The parties have a Lease dated January 25, 1994 for the operation
of the Bangor Raceway. Pursuant to the terms of the Lease, Bangor
Historic Track, Inc. has exercised its right to have the Lease
renewed. The Amendment renews the Lease subject to changes
regarding dates and payments to the City.
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Associated Information: Order, Amendment No. 2 to Raceway Lease
Agreement
Budget Approval:
Legal Approval:
FinanFinanc Director
City Solicitor
Introduced For
Passage
First Reading
Referral Page 1 of 5
Awipwabf mERM Sullivan February 12, 1996
_ CITY OF BANGOR
Auth i ing Execution of Amendment to Bangor
(TILE.) (Drber, _.__.._ _..... ..__. __....
Raceway Lease Agreement
By the cum County of OW MY ofBm4mr:
ORDERED.
THAT
WHEREAS, the City of Bangor and Bangor Historic Track, Inc. wish to
renew the Bangor Raceway Lease Agreement between the parties, dated
January 25, 1994,
NOW, THEREFORE, by the City Council of the City of Bangor, be it
ORDERED,
THAT the City Manager is hereby authori¢ed, on behalf of the City
of Bangor, to execute Amendment No. 2 to Bangor Raceway Lease
Agreement in the form attached hereto.
IA CITY CODNCIL 96-113
February. 13, 1996,
Teased0 R D I
' - -
CITY CLERK Title, Authorizing EcewMon of Amendment
to Bangor Raceway Lease Agreement
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Councilman
96-113
AMENDMENT N0. 2 TO
BANGOR RACEWAY LEASE AGREEMENT
THIS AMEMDMENT NO. 2 TO BANGOR RACEWAY LEASE AGREEMENT
(hereinafter sometimes referred to as "Amendment No. 2"), executed
in duplicate, this day of February, 1996, by and between the
CITY OF SANGOR,a municipal corporation organized and existing
under and by virtue of the laws of the State of Maine, and located
at Bangor, Penobscot County, Maine (hereinafter sometimes referred
to as the 'CITY") and BANGOR HISTORIC TRACK, INC., a duly
authorized and organized Maine corporation doing business as Bangor
Raceway and having aprincipal place of business at Bangor,
Penobscot County, Maine (hereinafter sometimes referred to as
°TENANT").
W I T N E S S E T H,
WHEREAS, the CITY and TENANT are parties to a certain
Bangor Raceway Lease Agreement (hereinafter sometimes referred to
as "Lease Agreement"), dated January 25, 1994, regarding the use
and occupancy of the Bass Park grandstand, track, barns, and
trailer park by TENANT; and
WHEREAS, said Lease Agreement provides for a renewal term
after proper notice by TENANT and agreement between the CITY and
TENANT to changes or amendments to said Lease Agreement; and
WHEREAS, the parties hereto wish to renew said Lease
Agreement for the calendar year 1996 racing season subject to the
within terms and conditions;
NOW, THEREFORE, the parties do mutually agree as follows:
1) THAT Paragraph 1 (Premises) of said Lease Agreement be
amended as follows:
a) Replace all language under the headings •Area•
and °Dates" with the following:
Track
Marchi through October
30,
but excluding July 21 through
August 5
Barns
March 1 through October
SO
and ae onable period
before
March lfor preparation
purposes
Trailer Park
April 1 through July 22
Grandstand
April 1 through July 21
96-113
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2) THAT Paragraph 20 (Pavizent to the City) of said Lease
Agreement be amended in its entirety as follows:
1120. Payment to the City. TENANT shall pay
the CITY a base fee of Thirty -Five Thousand
Dollars ($35,000.00) for the right to lease and
operate the premises. In addition to the base
fee, TENANT shall pay to the CITY an additional
fee amount to be determined as follows: If the
a= of the average daily handles both on -track
and at Maine Off Track Betting facilities
wagered on TENANT'S races is greater than
Fifty -Five Thousand Dollars ($55,000.00), the
percentage amount by which said amount exceeds
$55,000.00 shall be multiplied by the base fee
to determine the amount of the additional fee.
CITY shall invoice TENANT the full amount of
the base fee on March 1, 1996. TENANT shall
pay the fee(s) in seven (7) equal monthly
installments beginning March lat. Any
additional fees due will be calculated at the
end of the 1996 Racing Season (July 21, 1996)
and be payable by September 1, 1996 with final
rental installment. At the end of any month
aces are conducted on or at the leased
premises, TENANT shall provide to CITY copies
of reports required to be filed with the State
of Maine reflecting all wagers placed or made _
at the leased premises, as well as all wagers
made or placed at Maine Off Track Betting
facilities on races conducted at the leased
premises.^
3) THAT except for the foregoing, said Lease Agreement,
dated January 25, 1994, between the CITY OF RANCOR and BANGOR
HISTORIC TRACK, INC., as previously amended by Amendment No. 1
dated October 12, 1994, shall remain in full force and effect in
all other respects between the undersigned parties, provided that,
however, the parties acknowledge and agree that the bathhouse,
shower and toilet facilities previously part of the trailer park On,
the premises no longer exist and will not be replaced by the City.
IN WITNESS WHEREOF, the parties hereto have respectively
executed or caused this Amendment No. 2 to be executed on the day
and year first written above.
CITY OF BANGOR
(BY) Edward A. Barrett
City Manager
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96-113
BANGOR HISTORIC TRACK, INC.
witness
(By) Fred Nichola
Treasurer
STATE OF MAINE
PENOBSCOT, as. February _• 1996
Then personally appeared the above-named EDWARD A. BARNETT,
City Hanger, and acknowledged the foregoing instrument to be his
free act and deed in his said capacity, and the free act and deed
of said body corporate.
Before m ,
Notary Public/Attorney-at-Law
Printed Name:
STATE OF MAINE
PENOBSCOT, ss. February • 1996
Then personally appeared the above-named FRED NICHOLS,
Treasurer of Bangor Historic Track, Inc., and acknowledged the
foregoing instrument to be his free act and deed in his said
capacity, and the free act and deed of said corporation.
Before me,
Notary Public/Attorney-at-Law
Printed Name:
APPROVED AS TO FORM:
Erik H. Stumpfel, City Solicitor