HomeMy WebLinkAbout1992-05-27 92-280 ORDERDam May 19, 1992 Item No. 92 280
Order, Authorizing the City Manager to Execute a Lease
Agreement with Stillwater Realty Trust
Item/Subject:
Hesponsiblo Department: Community and Economic Development
Commentary:
As the Council will recall, the City has been working with Stillwater Realty
Trust during the past year to develop an agreement regarding the development of a
employee parking lot at Dakin Park and the replacement of the deteriorated basket
ball curt which exists at the site. In late 1991, the City of Bangor rezoned
the Dakin Park area from Parks and Open Space to Government and Institutional
Service which will allow employee Marking at the site.
Under the terms of the proposed agreement, the City would lease approximately
15,000 square feet of land to Stillwater Realty Trust for the purpose of con-
struction of an employee parking lot for adjacent 8 Stillwater Avenue office
building for aperiod of 20 years. The parking lot will be available to the
public during non -business hours.
In return , Stillwater Realty Trust will provide the funds nary (pp to
$18,000)to construct a new lighted basketball curt at Dakin Park. Stillwater
Realty Trust now prepared to execute theagreement and start construction.
The Community and Economic Development Committee considered the proposed agree-
ment and recommended approval last December.
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Assigned to Councilor Frankel May 27,1992 92-280
CITY OF BANGOR
(TITLE) (jori2Y Au" ng the City Ma ager tojxecutea Lease„Agreement With
Stillwater Realty Trust
By the City (Sewall of 611; City of Bangor.
ORDRRROr
TEAT WHEREAS, the City of Bangor and Stillwater Realty Trust have
developed a lease agreement which permits the construction of an enployee parking
lot at Dakin Park a while providing funds to the City for a new basketball
court at Dakin Park; and.
WHEREAS, the .existing basketball curt at Dakin Park is in very poor
condition and Stillwater Realty Trust will provide the funds necessary to
construct a new court; and
WHEREAS, the proposed parking lot will be'llmited`i available
only to employees of tenants at the 8 Stillwater Avenue office building and
available to the public on nights and weekends.
THEREFORE BE IT ORDERED THAT the City Manager is hereby authorized
and directed �
toe cute an agreement with Stillwater Realty Trust, Carol A.
Epstein, Trusteea copy of which is on file at the City Clerk's Office.
92-280
ORDER
IF CITY COUNCIL r - pp
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e Leese Agreement with Stillwater Realty Trust
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INDENTORE OF LEASE DRAFT
92 280
THIS INDENTURE OF LEASE, executed this _ day of May,
19920 by and between,
CITY OF BANGOR, a municipal Corporation duly
organized and existing under and by virtue of
the laws of the State of Maine, and having its
principal offices at 73 Harlow Street, Bangor,
Maine (hereinafter sometimes referred to as
"Lessor")
AND
CAROL A. EPSTEIN of Bangor, Penobscot County,
Maine, as Trustee of Stillwater Realty Treat,
under a Declaration of Trust, dated April 1, 1989,
as ended, a copy of said Declaration being recorded
in Volume 4532, Page 327, Penobscot Registry of Deeds
(hereinafter sometimes referred to as ^Lessee")
W I T NE S S E T H:
WHEREAS, Lessor is the owner of certain land off Pine
Street Extension in the City of Bangor, known as "Dakin Park"; and
WHEREAS, Lessee wishes to lease a portion of said land to
construct, operate, and maintain a parking lot for use
e by tenants
of Lessee's office building at 12 Stillwater Avenue; and
WHEREAS, it appears to be in the interest of the City of
Bangor to lease the property concerned;
NOW, THEREFORE, the parties do mutually agree as follows:
ARTICLE I
PREMISES
The Lessor, for and in consideration of the rents to be
paid and the obligations to be performed by Lessee as hereinafter
provided, does hereby demise and lease unto Lessee, and the Leasee
does hereby take and hire, upon and subject to the terms and
conditions hereinafter expressed, a parcel of land as further
depicted on a plan attached hereto as Exhibit "A".
ARTICLE II
TER
TO HAVE Aero TO HOLD the demised premises unto the Lessee
for a term of twenty (20) years commencing on May 1, 1992 and
terminating on April 30, 2012.
ARTICLE rIr 92 280
RENT
As and for a rental payment for the leased promisee, Lessee
shall pay to the Lessor, within ninety (90) days from the date of
this Lease, the am of Eighteen Thousand Dollars ($18,000.00) for
Lessor's use in construction of a new basketballs court adjacent to
the demised premises, as depicted on Exhibit "A". Said payment
shall constitute the full amount of rent to be paid during the
entire twenty (20) year term of this Lease. Said payment shall be
non-refundable to the Lessee once paid, but Lessee shall be
entitled to require Lessor to apply said funds to co nstruction of
the basketball court as provided in this paragraph.Lessor agrees
to complete such construction within one (1) year from the date
Lessor receives said payment from the Lessee.
ARTICLE IV
LESSEE TO CONSTRUCT IMPROVEMENTS
A. Lessee shall have the right t0 use, occupy and maintain
the premises herein described in arnably businesslike,
careful, clean, and reasonably safemanner x for the purposes of
constructing, operating, and maintaining 10,000+ square foot
parking lot, containing approximately 28 parking spaces, within the
area designated on the attached Exhibit "A°. Said parking lot is
to be built and maintained by Lessee at its own cost. Said
premises shall be used, occupied and maintained as a parking lot
for use by tenants of Lessee's adjacent office building at 12
Stillwater Avenue, and for no other purposes whatsoever without the
prior written consent of the Lessor.
B.1 Lessee shall construct and maintain all structures or
improvements on the demised premises in accordance with all
applicable building, fire and property maintenance codes of the
State of Maine, the Laws and Ordinances of the City of Bangor
including the site plan approval process outlined in the Laws and
Ordinances of the City of Bangor, and with a site plan, design and
construction plans to be submitted to Lessor by Lessee and approved
by the Bangor City Planning Board and the Bangor City Council o
its designated Committee. Prior to commencing any construction
Lessee shall secure all necessary approvals from the City of
Bangor, the State of Maine, and the United States required under
any applicable law, ordinance or regulation, including City of
Bangor Planning Board approval. Provided that said plane meet the
requirements of all applicable laws, ordinances and regulations,
said City Council approval shall not be unreasonably withheld.
B.2 Within ninety (90) days from the date of commencement
of this Lease, Lessee agrees to submit plans requital under this
paragraph to the Bangor City Council for its approval. Within
thirty (30) days after such submission, said Council shall notify
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Lessee in writing of its approval of such plana or requested 92 280
modifications. Said modifications shall be submitted on a final,
revised plan to said Council for approval within thirty (30) days
of said notice. Within thirty (30) days of the receipt of the said
final revised plan, said Council shall notify Lessee of the
approval or disapproval of same in accordance with Paragraph B.1
above. Leasee agrees to complete construction, including all
required landscaping, within six (6) months from the date of
receipt of final approval of said plans. In the event Leasee fails
to complete construction, including landscaping, within six (6)
months, Lessee agrees to pay Lessor a penalty of Three Hundred
Dollars ($300.00) per month in addition to all rentals and other
charges under this agreement to be paid by Lessees said penalty to
continue on a month-to-month basis until all required construction,
including landscaping, is completed. Said plana as finally
approved shall be attached to this Agreement as Exhibit "B" and
shall thereafter be a pert hereof. If Lessee does not accept the
modifications proposed by said Council, then, within said thirty
(30) day period, Lessee may elect to terminate this Lease by giving
written notice of such election to Lessor. Unless the parties
otherwLse agree, the failure by Lessee to submit the final, revised
plan within said thirty (30) day period shall be deemed to be a
election by Lessee to terminate this Lease. In the event of such
election, neither party shall have any further rights or
liabilities against the other.
C. In computing the time the parties are obligated to act
as set forth in this Article, there shall be excluded all delays
due to strikes, lockouts, Acta of God, massive civil disobedience
at Acta of War, or by order or direction or other interference by
municipal, state, federal, or other governmental department, board
or commission having jurisdiction, or other causes clearly beyond
the control of the parties.
D. All deadlines for submissions to the Lessor's City
Council and all project completion dates specified in this Article
shall be reasonably extended as necessitated by any unavoidable
delays in the permitting bidding or contracting process.
E. Lessor, through its agents, shall have at all
reasonable times the right to go on and inspect the premises, to
include any structures or improvements thereon, with an euthori2ed
representative of the Lessee, and the right of access to utility
systems, if any, located on the demised premises for the purposes
of maintenance, repair, correction, or inspection.
F. Following completion of its initial construction i
accordance with Paragraph 8.2 above, Lessee shall have the right to
make alterations and improvements to the premises as it may choose,
subject to Lessee's obtaining any permits, licenses or approvals
required under any applicable provision of federal or state or
local law.
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ARTICLE V 92 280
USE AND OCCUPANCY OF PREMISES FOLLOWING
COMPLETION OF IMPROVEMENTS
A. Upon completion of initial construction of the improve -
more specified in Article IV, Leasee shall have the sole and
exclusive right to use and occupy the premises during all regular
business hours as a parking lot for use by employees of Lessee's
office building tenants at 12 Stillwater Avenue. It is understood
and agreed that at all other timee$ i.e., nights, weekends, and
regular business holidays, the priestess shall reanain available for
unrestricted use for parking by members of the general public,
except when necessary for maintenance or snow removal.
B. it is further understood and agreed that, following
initial construction of the improvements specified in Article TV,
Lessee Shall, throughout the term of this Lease,at is sole coat
and expense, perform all necessary maintenance to the demised
promisee and to the improvements to be constructed thereon, such
maintenance to include all necessary repair work, winter snow'
plowing, and sanding. In the event Lessee shall fail to perform
such maintenance after reasonable notice and demand by the Lessor,
Lessor may cause such work to be performed and may charge the
reasonable cost thereof to the Leasee.
ARTICLE VI
LIABILITY AND PROPERTY DAYODE INSURANCE
During the entire term of this Agreement, or any extension
thereof, Lessee shall maintain, at its sole expense, insurance of
the following types with companies authorised to do business in the
State of Maine for the protection of the City of Bangor, who shall
be named as an additional insured against all claims, losses, costa
r expenses arising out of injuries to persona whether or not
employed by Lessee or damage to property whether resulting from
acts, emissions, negligenceotherwise of the Lessee, its
directors, officers, employees and agents and arising from leases's
use of the premises or any part or portion thereof.
COMOrehenaive Public Liabilit
Bodily Injury
$300,000.00 each occurrence
Comprehensive Property Damage
$300,000.00 each occurrence
Workers' Compensation Insurance
Lessor shall not be required to provide insurance coverage
and shall have no responsibility for any property owned by the
Lessee or third parties which may be located on the leased
premises. Lessee shall cause to be furnished to the Lessor
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evidence in the form of certificates of insurance of the existence
and continuance in force of the insurance required hereunder. 92 280
Lessor shall be notified of any changes or discontinuances of
coverage. e
Lessor reserves the right to review the minimum amounts
of insurance it requires and adjust the minimums in written notice
to Leasee to reflect the economic Conditions at that time in order
to provide reasonable adequate protection to the Lessor.
The my insurance coverage required under this Article
shall be deemedrto beautomatically adjusted whenever the Maine
State Legislature shall increase the Lessor's maximum liability for
personal injury or property damage claims brought under the Maine
Tort Claims Act beyond the coverage limits specified in this
Article. In the event of such an increase, the minimum insurance
coverage required shall be no less than the Lessor's maximum
liability for such claims under the Maine Tort Claims Act.
ARTICLE VII
Lessee shall protect, defend and hold Lessor, and its
Inhabitants, officers, employees and agents completely harmless
from and against any and all liabilities, losses, suits, claim
judgments, fines or demands arising by reason of injury or death of
any person or damage to any property, including all reasonable
costs for investigation and defense thereof (including but not
limited to attorneys' fees, court costs, and expert witness fees),
any nature whatsoever arising out of or incident to this Agreement
and/or the use, cupancy, conduct, or management of the leased
premises or the acts or omissions of Lessee's officers, agents,
employees, contractors, subcontractors, licensees, or invitees,
unless such injury, death, or damage is caused by the negligence of
the Lessor. The Lessee shall give to Lessor reasonable notice of
any such claims or actions. The Lessee shall also use counsel
reasonably acceptable to Lessor in carrying out its obligations
under this Article.
Limitation of Lessee's Liability, The Lessee shall be
liable under this lease only for such period that it is the owner
of the Leasehold, and Lessee's obligations hereunder shall not be
binding upon Trustees of any Trust, individually, or upon the
Shareholders or beneficiaries of any trust, but only as Trustees
and their Trust estates. Except as herein otherwise expressly
provided, the terms of this lease shall be binding upon and for the
benefit of the successors and assigns of Lessor and Lessee.
ARTICLE VIII
DAMAGE BY FIRE OR OTHER CAEDALTY
Lessor agrees that in the event of destruction or damage of
Improvements owned by Lessee on the demised premises, or to any
part thereof, and as often as the improvements shall be damaged, by
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span
fire or other casualty, Lessee shall have the right but not the
obligation to rebuild and repair the improvements for occupancy.
If Lessee elects not to rebuild and repair, it shall so notify
Lessor within ninety (90) days or more expeditiously if possible of
its decision. Lessor shall then have the option to terminate this
Lease and the right, after notice to Lessee, to cause Lessee to
demolish all structures to ground level, and to remove all debris
from said demolition antl removal from the demised premises. In the
event Lessee decides to rebuild and repair said damages all
improvements shall be restored to their state and condition prior
to said fire or other casualty, or shall be constructed in
accordance with plans approved by the Lessor, which approval shall
not be unreasonably withheld. any insurance proceeds, in any
event, shall be paid to Lessee.
It is further understood and agreed that unless Lessor
shall exercise anoption to terminate this Lease arising pursuant
to this Article, nothing in this Article shall be deemed to relieve
Leasee of the obligation to pay rents as provided in Article III,
above.
ARTICLE IX
The Lessee agrees to pay, when due, any and all taxes
and/or assessments, fees or charges of any kind whatsoever, as may
be imposed during the term hereof, or any extension of the term of
this lease, by any governmental authority upon the demised
premises, including Lessee's leasehold interest therein, any
structures, or improvements thereof, or any personal property
located therein. It isexpressly agreed that such taxes and
assessments shall include all amounts levied as real estate taxes
upon the demised premises by the Lessor acting in its governmental'
capacity. Leasee further hereby waives any and all rights or
privileges of exemption from taxation on the demised premises, or
Lessee's leasehold interest therein, or on any buildings,
structures, or improvements thereon, or on any personal property
located therein arising due to public ownership of the demised
premises by the City of Sanger. provided, however, nothing herein
shall in any way prohibit the Lessee from exercising its rights
under the law to contest the amounts of such taxes, assessments,
charges or fees.
ARTICLE 8
NONDISCRIMINATION
Subject to Lessee's right to restrict daytime use of the
parking lot to be constructed to tenants and employees of Lessee's
office building at 12 Stillwater Avenue as provided in Article V
above, Lessee for itself, its personal representatives, successors
in interest and assigns, and as part of the consideration hereof,
does hereby covenant and agree as a covenant running with the land
that (1) no person or group of persona shall be excluded on th9 2 280
grounds of race, color, or national origin from participation in,
denied the benefits of, or be otherwise subjected to discrimination
in the use or occupancy of said demised premises; and (2) in the
construction of all improvements, buildings, structures, on, over
or under such land and the furnishing of services thereon, no
person or group of persona shall be excluded on the grounds of
race, color, or national origin from participation in, denied the
benefits of, or be otherwise subjected to unlawful discrimination.
In the event of breach of any of the above non-discrimination
covenants, the Lessor shall have the right, after failure of Lassos
to rectify such breach within thirty (30) days after receipt of
notice from Lessor, to terminate this Agreement. Provided,
however, that Lessor shall not have the right to terminate this
Lease under this Article with respect to any complaint of
discrimination which is pending finalresolution or adjudication
before any agency or court of the State of Maine or the United
States.
COVENANTS OF QUIET ENJOYMENT
The Leasee, subject to the terms and provisions of this
Lease on payment of the rent, and observing, keeping and performing
all the terms and provisions of the Lease on its part to be
observed, kept and performed, shall lawfully, peaceably and quietly
have, hold, occupy and enjoy the demised premises during the term
hereof without hinderance or rejection by the Lessor or any other
persons.
AATICLS XII
LIEWS
The Lessor and the Lessee agree that each will promptly
discharge (either by Payment or by filing of the necessary bond or
otherwise) any mechanics', materialmen's or other 'liens against the
demised premises, any buildings, structures or improvements
thereon, which liens may arise out of any payment due for labor,
services, materials, supplies or equipment which may have been
furnished to or for the Lessor or the Lessee, respectively.
TITL ORES ANO IMPROVEMENTS
Title to the buildings, structuresand improvements
constructed on the demised premises during the term of this Lease,
or any extension thereof, shall be in the Lessee, and during such
term or extension thereof, the Lessee shall have the right, at its
sole expense, to demolish and remove, improve or alter any and all
buildings, structures, and improvements and other personal property
erected or located on the demised premises.
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ARTICLE XIV 929x!00
REMOVAL OF PROPERTY UPON TERMINATION
Upon the termination or final expiration of this Lease, the
improvements and other personal property erected or located upon
the demised premises by the Lessee shall remain the property of the
Lessee, and the Lessee shall have the right to remove the same from
the demised premises within sixty (60) days from the date of
termination or final expiration of this Lease. Any such property
not so removed within said sixty (60) days shall become the
property of the Lessor to be disposed of In such way as the Lessor
may deem fit. In the event the Lessee elects to remove said
improvements and other personal property, the land appurtenant
thereto shall be returned to as near as possible its condition a
at the commencement of this Lease, ordinary wear and tear excepted.
In the event Lessee shall fail to remove any improvements
or personal property within sixty (60) days from the date of
termination or final expiration of this Lease, Lessor shall be
entitled to recover from the Lessee reasonable costs incurred in
removing or disposing of such improvements or personal property.
In such event, there shall be deducted from Lessor's costs the fair
value to the Lessor actually realized from sale, use or other
disposition of the improvements or personal property concerned.
ARTICLE xV
SURRENDER OF POSSESSION
Subject to the provisions contained in Article XIV, the
Lessee shall, upon the termination of this Lease, surrender the
quiet and peaceable possession of the demised premises.
ARTICLE XVI
k9JPyfSaLYVS•]il
It is covenanted and agreed that:
(1) If the Lessee shall neglect or fail to pay the rent or
other charges payable hereunder and such default shall continue for
a period of thirty (30) days after written notice thereof by
Lessor; or
(2) If Lessee shall neglect or fail to perform or observe
any of the other covenants,
nants, terms, provisions, or conditions on its
part to be performed,or observed, and such neglect or failure
shall continue for a period of thirty (30) days after written
notice thereof by Lessor, or if such covenants, terms, provisions
or conditions cannot be performed or observed within said thirty
(30) day period, if Lessee fails to diligently prosecute the curing
of such neglect or failure; or
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(3) If the estate hereby created shall be taken on 92
execution or by other process of law; or 280
(4) If the Lessee shall be declared bankrupt or insolvent
according to law; or
(5) If any assignment shall be made of the property of the
Lessee for the benefit of creditors; or
(6) I£ a receiver, guardian, conservator, or trustee in
bankruptcy or other similar officer shall be appointed to take
charge of all or any substantial part of the Lessee's property by a
Court of competent jurisdiction; or
(7) If a petition shall be filed for a reorganisation of
the Lessee under provisions of the Bankruptcy Act now or hereafter
enacted; or _
(8) If the Lessee shall file a petition for such
organisation or for arrangements under any provision of the
Bankruptcy Act now or hereafter enacted.
Then any of the said cases (notwithstanding any license
of any former breach of covenant or waiver of the benefit hereof or
consent in a former instance), the Lessee may be considered in
default hereunder, and the Lessor lawfully may, immediately or at
any time thereafter, and without demand or notice, enter into and
upon the said premises or any part thereof, in the name of the.
whole and repossess the same as of the Lessor's former estate, and
expel the Lessee and those claiming through or under it and remove
its or their effects (forcibly if necessary) without being deemed
guilty to any manner of trespass, and without prejudice to any
remedies which might otherwise to be used for arrears of rent o
preceding breach of covenant. Upon such entry, this Lease shall
terminate, and the Lessee shall be liable to pay as rent, amounts
equal to the several installments of rents and other charges
reserved as would have become due under this Lease if this Lease
had not been terminated or if the Lessor had not entered or
reentered as aforesaid. Notwithstanding the foregoing, Lessee's
liability shall not exceed the difference, if any, between the
rental which would have been due had there been no such
termination, and the amount being received by Lessor as rent from -
any new tenant or occupant of said premises. In order to mitigate
Lessee's damage hereunder, Lessor agrees to make every reasonable
effort to secure subsequent tenants, at a rental equal to the then
prevailing local rate for the demised premises.
ARTICLE XVII
ASSIGNMENT. SALE AND SUBLETTING
The Lessee shall not at any time assign, sell, convey o
transfer this Lease or any interest therein, or eubleaee or sublet
or rent the entire premises, without the prior written consent of
6E
the Lessor which consent shall not be unreasonably withheld. In
the event of an approved sublease, all provisions of this Lease
shall extend to, bind and inure to the benefit of not only the
Lessor and Lessee but also their successors and assigns. 92 280
Lessee shall have the right to assign this Lease to any
corporation with which it may have become merged, consolidated, or
otherwise associated, or any corporation or holding company having
the controlling interest in the Lessee, or to any corporation which
may be a subsidiary of the Lessee. In no event, however, shall the
Lessee named herein be relieved from any obligations under this
Lease by virtue of any assignment or subletting.
ARTICLE XVIII
FINANCIRG AFFECTING DEMISED PREMISES
Lessor is cognizant of the need of Lessee to finance the
construction of buildings, structures and improvements on the
demised premises, and therefore specifically agrees to permit the
Lessee to mortgage, conditionally assign or transfer its leasehold
interest in the demised premises for the purpose of obtaining
construction and permanent loan financing for the said buildings,
structures, and improvements, provided,
(1) the term of such mortgage, conditional assignment or
transfer shall not exceed the initial term hereof;
(2) Lessee shall give notice of the existence of such
mortgage, conditional assignment or transfer, together with the
name and address of the mortgagee, assignee or transferee and a
copy of the mortgage, assignment or transfer document;
(3) that in the event of foreclosure, and in the event that
said mortgagee, conditional assignee or transferee shall become the
owner of the Lessee's interest pursuant to such foreclosure, said
mortgagee, conditional assignee or transferee shell have the right
to take possession and shall become the legal owner and holder of
the leasehold estate created hereunder and shall hold such estate
Upon the same terms and conditions as held by Lessee from which
such mortgagee, conditional assignee or transferee acquired
possession, but in such event, said mortgagee, conditional assignee
or transferee shall be liable under the terms and conditions hereof
during the period of time in which said mortgagee, assignee o
transferee holds such estate, and for any defaults antler the terms
or conditions hereof which arose before said estate become vested
in said mortgagee conditional assignee or transferee. Provided,
however, that such mortgagee, conditional assignee or transferee
shall not be liable for default(s) of the Lessee occurring prior to
foreclosure unless Lessor provided written notice of such
default(s) to the mortgagee, conditional assignee or transferee
before the effective date of the foreclosure action.
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(4) that the existence of such mortgage, conditional
assignment or transfer, or any foreclosure by a mortgagee shall not
relieve the Lessee from any liability or responsibility of the
obligations on its part to be performed.
ARTICLE XIX 92 280
AUTHORITY To ENTER INTO AGREEMENT
The Lessor hereby represents and warrants that it has taken
all necessary procedural and legal steps as required by federal,
state and local laws and regulations for the purpose of authorising
the execution of this agreement and that execution of this
agreement by the City Manager renders this agreement a valid and
binding document on the part of the Lessor and the some is fully
enforceable in all of its terms and conditions by the Leeson.
Lessee hereby represents and warrants that it has taken all
necessary procedural and legal steps as required under all state,
local and federal laws and regulations, and all necessary corporate
action to authorise the execution of this agreement by its
undersigned corporate officers and that upon such execution this
agreement is a valid and binding document on the part of the Lessee
and is fully enforceable in all of its terms and conditions by the.
City of Bangor.
ARTICLE XX
WAIVER
Failure on the part of the Lessor to complain of any action
or non -action on the part of the Lessee no matter how long the same
may continue, shall never be deemed to be a waiver by the Lessor of
any of Lessor's rights hereunder. Further, it is covenanted and
agreed that no waiver at any time of any of the provisions hereof
by Lessor, shall be construed as a waiver of any other provisions
hereunder, and that a waiver at any time of any of the provisions
hereof shall not be construed at any subsequent time as a waiver of,
the same provisions. The approval of Lessor or of any action by
the Lessee requiring the Lessor's consent or approval shall not be
deemed to waive or render unnecessary the Lessor's consent or
approval of any subsequent similar act by the Leasee.
ARTICLE XXI
NOTICES
Notices to the Lessor provided for inthisLease shall Be
sufficient if sent by registered or certified mail, return receipt
requested, postage prepaid to:
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92 280
Dept. of Community and Economic Development
City of Bangor
City Ball
73 Harlow Street
Bangor, Baine 04401
and notices to Lessee, are to be sent by registered or certified
mail, return receipt requested, postage prepaid, addressed to:
Carol A. Epstein, Trustee, Stillwater Realty Trust
P. O. Box 2400, 6 State Street
Bangor, Maine 04401
r to such other respective addresses as the parties may designate
to each other in writing from time to time.
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If any term or provisions of this Lease or the application
thereof to any person or circumstances is hereafter determined to
be to any extent, invalid or unenforceable, the remainder of this
Lease or the application of such terms and provisions to persons or
circumstances other than those to which it is held invalid or
enforceable shall not be affected hereby and such term and
Provision of this Lease shall be valid and be enforceable to the
fullest extent permitted by law.
ARTICLE 88III
CONSTRUCTION
The headings appearing in the Lease are intended for
convenience and reference only, and net to be considered in
construing this Lease.
ARTICLE 88IV
ND PARTNERSHIP OR JOINT VENTURE CREATED
Nothing contained herein shall be deemed or construed a
eating the relationship of principal and agent or of partnership.
or of joint venture between the parties hereto, it being understood
and agreed that neither the method of computation of rent nor any
other provision contained herein nor any acts of the parties hereto
shall be deemed to create any relationship between the parties
other than the relationship of landlord and tenant.
ARTICLE 88V
GOVERNING LAW
This Lease shall be governed exclusively by the provisions
hereof and by the laws of the State of Maine, as the same may from
time to time exist.
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ARTICLE XXVI 92 280
R,s eT'i\�liii-�im19FY3
Upon execution of this Lease, the parties mutually agree
that they shall prepare and execute a Memorandum of Lease in a form
suitable for recording at the Penobscot County Registry Of Deeds,
as evidence of Lessee's interest in the premises demised herein.
ARTICLE XXVII
�.
This Lease contains all the terms and conditions between
the parties hereto and no alteration, amendment or addition hereto
shall be valid unless in writing and signed by both parties hereto.
IN WITNESS WHEREOF, the parties hereto have set their hands
and seals the day and year first written shove.
CITY OF BANGOR
(BY)
Edward A. Barrett
Its City Manager
STILLWATER REALTY
TRUST
(By)
Witness - Carol A. Epstein,,
Trustee
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