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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. m .ms<.e WarageisaCaommenh:� A e ll. n e&5wdNwwm"f e �Oa�%adn. (iS+Aa+�r/.L. (:U�-tymc+a�aM0./PAIM'txO�uOtloQ L"„ �'YYIYY P.e�cen aM�-N�ce� d�e� aQ�i�.ta� Auocia[M InlormMion:O tl�F Budyn Approval: Fimnn Oimaor Legal Approval: cay sw;.;m. Inuoduied For ]Pauses L Firm Reading Pep—of Referral 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 "IF to ..........Ln..an.. `a Cowci 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 a �9 STREET Y�� W Y O __ o U g N w Q n N 2 A\\\V Soo w mak rs�r� i i t / \J i ,' p�. ♦\\� op \'•