HomeMy WebLinkAbout1961-01-09 62-N ORDERM,
1n4oduced by councilor Bla iatlell, ]an. 4, 1961
CITY OF BANGOR
(TITLE.) MrUri_. Authorizing. city Manages.. to Execute _Option. to Lease.
By the aty Council of tke City of Banaor:
M303"
THAT the City Manager be and is hereby authorized for
and on behalf of the City of Bangor, to execute the Option
to Lease between City of Bangor and Pe8&-Buwyan Theatre, Inc.,
a copy of which is hereto attached.
I,N CITY COUNCIL
Jan. 9, 1961
Tabled
CITY CLtV
IN CITY COUNCIL
Jan. 23, 1961
Voted to remain on table.
ItCIT LERK
IN CITY COUNCIL
Feb. 13, 1961
Taken fron table, indefinitely Post ed.
TTY Ci ER
Tiuep
Authorizing City Manager to. Execute
Option to Lease. _... _...
mgmeauaed eed Bled by
OPTION TO LEARN
In consideration of the sun of One Dollar and other valuable
F'li. ;'<
considerations paid to the City of Bangor by Peakyatyen Theatre#
Inc., the receipt whereof is hereby aelanowledged, the City of
r�
Bangor hereby Brants to the 9flld Ppp tx3�anyan Theatre# Inc., an
option to rent the promisee known as the Old Bangor Auditorium,
upon the fallowing terms and conditions:
1. Term of Lease: Five (5) years, for a period in each
year beginning June 1. and ending October 1,
2. Rental: Thirty Thousand Dollars (430,000.00) for the
entire term of the lease.
y(,.. 1" y:.
3. Faa2�Bonyen Theatre, Inc., to be allowed to install a
permanent stage at its expense, subject to the approval of the
City Manager of the City of Bangor.
k3a-`' I
4. PaniBunyan Theatre, Inc. to be allowed to install, at
its expense, seating which can be removed at the end of each
yearly period as hereinbefore set cut, subject to the approval
of the City Manager of the City of Bangor.
5, The City of Bangor to place and maintain the building
in safe structural condition during the term of the lease and
to paint the bhu�ilding, inside and outside.
Pll�
6. PeaY;punyen Theatre, Inc. to poet a Bond satisfactory
to the City Solicitor to guarantee payment of the amount of
Thirty Thousand Dollars (430,000.00) for the aforesaid rental.
This option may be exercised by said Paul Bunyan Theatre, Inc.
within four (4) months from the date hereof upon notice of intention
to exercise said option being given by Paul Bunyan Theatre. Ino. to
the City Hanger of the City of Bangor, at which time a lease shall
be drawn and executed by the parties hereto, containing the above
Lerma and in form satisfactory to said parties.
Feted
this
day
of
January,
A.D.
1961.
City Of
Bangor
37
City Manager