HomeMy WebLinkAbout1992-08-10 92-386 ORDERGate July 31,„ 1992 Item No. 92-386
Authorizing Execution of Amendment t2 to Lease
Agreement With Murray W. Finard and William G.
Item/Subject: Finardr Trustees of Bangor Main Street Trust --
Columbia-Hammond Street Parking Deck
Responsible Department Community 6 Economic Development
Commentary:
The purpose of this Order is to reduce the number of spaces
leased from 16 spaces to 11 spaces at the request of the Lessee
in the Columbia -Hammond Street Parking Deck.
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93-386
Aa*to Counedw Saucy, August 10, 1992
CITY OF BANGOR
Author ng Execution of Amendment S2 to Lease
(TITLE.) Wrber, ._... ............ __.. _...
Agreement with Murray W. Finaid and William G.
Finard, Trustees of Bangor Main Street Trust --
Columbia-Hammond Street Parking Deck
By w C"m Cemmml of Day of Denser:
ORDERED,
THAT Edward A. Barrett, City Manager, is hereby
authorised and directed on behalf of the City of Bangor,. to
execute an Amendment $2 to Lease Agreement with Murray W. Pinard
and William G. Finard, Trustees of Bangor Main street Trust, for
purposes of reducing the number of spaces leased from 16 spaces
to 11 spaces in the Columbia -Hammond Street Parking Deck, a copy
of said Amendment being on file in the office of the City Clerk.
92-386
ORDER
In City council August 10, 1992 -
Passed Title,
Authorising execution of amendment 82
......................................
to Lease Agreement with Murray N Pinard
v / a spa William Ge Picard Trustees of Bangor
Chy cler Main t t T [ mb1 d St
To
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AMENDMENT #2 TO LEASE AGREEMENT
THIS AMENDMENT #2, executed in duplicate, this _ day of
August, 1992, by and between:
CITY OF BANGOR, a body politic and corporate, duly
organized and existing under and by virtue of
the laws of the State of Maine, and being
located In the County of Penobscot, State of
Maine (hereinafter sometimes referred to as the
City..)
AND
MURRAY W. FINARD AND WILLIAM G. FINARD, TRUSTEES
OF HARBOR MAIN STREET TRUST, having a place of
business at Three Burlington Woods Drive,
Burlington, Massachusetts (hereinafter some-
times referred to as the ^Lessee•).
W I T N E S S E T H:
WHEREAS, by Agreement, dated August 11 1986, and Am hied by
AMENDMENT #1 TO LEASE AGREEMENT dated September 15/ 1989, the City
leased to Murray W. Finavd and William G. Finard, Trustees of Bangor
Main Street Trust, sixteen (16) parking spaces in the Columbia -
Hammond Street Parking Deck; and
WHEREAS, the parties desire to amend said Lease Agreement to
provide for a reduction of the number of spaces leased under the
provisions of said Agreement,
NOW, THEREFORE, the parties do mutually agree as follows:
(1) THAT the .provisions of Article I be repealed in their
entirety and replaced with the following:
ARTICLE I
The City, for and in consideration of the rents to he
paid and the obligations to be performed by the Lessee as
hereinafter provided, does hereby demise and lease auto the
Lessee, and the Lessee does hereby demise, lease, take and
hire, upon and subject to the conditions hereinafter
expressed, the following described property in its present
condition, viz.
Eleven (11) parking spaces, to wit: five (5)
spaces on a plan of the upper level, Columbia -
Hammond Street Parking Deck and six (6) spaces
In the lower level of said Deck, said parking
spaces being more clearly identified on plans
for said Deck attached hereto as Exhibits -A-
and ^E^ respectively and made a part hereof.
(2) THAT the first sentence of Article ii be repealed and
replaced with the following:
TO HAVE AND TO HOLD, the .demised premises
unto the Lessee for an initial period of nine
(9) years commencing on the first day of August,
1986 and expiring on the last day of July, 1995,
unless sooner terminated as herein provided.
(3) THAT the provisions of Article III be repealed in their
entirety and replaced with the following:
ARTICLE III
RENTAL
The rental to be paid by the Lessee to the City
during the initial term of this Agreement shall be
Payable in monthly payments asfollows,
PERIOD MONTBI.Y RENTAL
8/1/86
- 7/31/00
$666.67
B/l/88
- 7/31/90
686.67
B/1/90
- 7/31/92
707.27
8/1/92
- 7/31/94
- 500.
B4--
8/1/94
- 7/31/95
515.87
During any additional extension period, the monthly
ental shall be increased at an annual rate of 38 beginning
August 1, 1996 and every 2 years thereafter. The Lessee
shall pay all rentals herein required without prior demand
therefore in lawful money of the United States, at the
address of the City as herein set forth or at such other
places as the City shall designate.
(4) THAT each and every other provision of said Lease
Agreement, dated August 1, 1986, and Amendment $1 to Lease Agreement
dated September 15, 1989, shall remain in full force and effect as
provided prior to the date of this Amendment %2.
IN WITNESS WHEREOE0 the parties hereto have set their hands
and seals the date and year first written above.
CITY OF BANGOR
By
Witness
Title City Manager
Witness
BANGOR MAIN STREET TRUST
By _
Title
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