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HomeMy WebLinkAbout1977-11-28 30 AF ORDER30 AS' Introduced by Councilor MaXernen, November 20, 1577 CITY OF BANGOR (TITLE) Mrbtr e u icing Exen c t Leasa ng maac vith Northeast r......... .... ....... ... By the MyC IM W Cft of Banger: ']]fJOUNdp MET the City Manager, on behalf of the City of Bangor, is hereby authorized and directed to execute a lease aSredweac with Northeast Bank & Trust -Co.. for purposes of providing for the continued rental, for purposes of operating a branch bank, on a Lot of lend at the corner of Exchange and Washington Streets, a copy of said lease being on file in the office of the City Clerk. ti^ IN CITY COUNCIL aove�r 28, 1977 Passed I 30 ORDER Title, witb Northeast Ben: a 'hest Co. Introduced and filed by . - coBnnalman i REONVED CITY OF M "OR CITY OLERWS C7FIOE - 977 12d l i 30 AF INUPNTIIEE OF LASE l TllIS INOPNTOAE, executed in duplicate, this � day of 1977, by and between the: CTPy OF BANWR, a mmicipal corporation, duly created and fisting under the laws of as Stale of Mine, located at Hanger, County of Penobscot, State of Maine (hereinafter called the "City") and NORTHEAST BANK 6 TRUST CO., a baNcing corporation having its principle place of business at said Bangor in said County end State (hereinafter called the "Lessee") WI TN E S S E T H: WREREAS, by lease dated July 1, 1976, the Lessee has been leasing a certain parcel of land described therein Exam the Urban Renewal Authority of the City of Bangor; and VhSS S, said Authority has conveyed said real estate to the City; and WHEREAS, the City and the Lessee wish to provide for the continuing lease of said parcel by the Lessee subject tothekerma end conditions contained herein, p NOW, THEREFORE, in consideration of the rest and covenants herein ccntained,'the parties doI=really agree as follows: 1. The City, for and in consideration of the rent to be paid awl the obligations to be performed by the Lessee, as hereinafter provided, does hereby lease Onto the Lessee the following described property, in its present condition, via: A certain lot or parcel of land situated at the career of Exchange and Washington Streets in Bangor, Maine, being a portion of Parcels Nos. C-7 and P-3 as shown on aplan entitled "Land Use Plan for Heenuskeag Stream Urban Conceal Project", copy of which is attached hereto as Exhibit "A", and as outlined in zed on Exhibit "B" attached hereto, both of said exhibits being made a part - hereof. The right to use, in common, with others, a portion of Parcel P-3 Immediately northerly of the above described premises for purposes of ingress to and egress from the said promises, and for parking purposes until such time as said Parcel P-3 is needed o may be used by the City for development purposes• 3. TO MVE AND To HOLD the above described premises unto the Lessee for a term of one (1) death beginning on the day of 1977, and terminating on the day of , 1977, at a reaeal of Three Hundred Dollars ($300.00), payable in advance on the first day of said term. All checks for the rental payments hereunder shall be made payable to 'City of Bangor (Community Development Program)", and shall be forwarded to: City of Bonds, Community Development Division, City Hall, Hanger, Maine. This lease shall be automatically renewed for successive terms of one (1) month each at a rental of Three Hundred Dollars ($300.00) per month until terminated by either party as hereinafter provided or by operation of lay. 3. The Lessee agrees to use, occupy and maintain the leased premises for commercial banking purposes and necessary functions related thereto, and for no other purposes whatsoever without the expressed written consent of the City. It is agreed and understood that the modular building presently located on said premises is owned by the Lessee and shall continue to be used for commercial banking purposes by the Lessee. 'Lessee agrees that it shall not occupy or maintain said premises in any madder as to violate any law or regulation of any duly constituted governmental authority, including, but met limited to, all regulations relative to signs. The City, by add through its agents, shall have at all reasonable times the right to go upon and inspect the promisee with an authorized representative of the Lessee. -2- 4. Lessee understands and agrees that it is not eligible for relocation payments and services, and will not apply for than in conjunction with the rights and privileges granted herein. 5. The Lessee takes all utility systems in or about said promises in their present condition and where presently located. Lessee shall pay all charges for the installation of, and for service of all utilities supplied to the leased premises, including water and sever user fee charges. Lessee further agrees to maintain the leased premises during the term hereof and all sidewalks abutting said premises free and clear of accumulations of snow and ice. 6. Maintenance and repairs, whether major or minor to the leased premises, bad expenses resulting therefrom, shall be the responsibility and obligation of the Lessee; provided,, however, no major alterations of the existing structure shall be permittedwithout prior expressed written approval of the City. 7. During the entire term of this agreement, or any extension hereof,. the Lessee shall maintain liability insurance with companies authorized to do business in the State of Maine for the protection of the City of Burger, its inhabitants, employees and officers, who shall be named as additional insureds against all claims, losses, costs or expenses arising out of, injuries to persons, whether or Out employed by the Lessee, or to damage to property, whether or not resulting from acts, omissions, negligence or otherwise of the Lessee, its directors, officers, employees or invitees. The lessee's liability insurance shall provide coverage for the following exposures in not less than the followtng limits: -. Bodily Injury: $300,000.00 (each person) $300,000.00 (each Occurrence) Property Damage: $300,000.00 (each occurrence) rs" -3- The Lessee shall also cause to be furnished to the City evidence in the form of certificates of insurance of the existence or continuance. in force of the insurance hereunder required. A. In addition to the above insurance requirements, Leasee agrees to indemnify and save the City, its inhabitants, employees and officers, harmless from and against all claims by or on behalf of any person or persona for anything whatsoever done in, On or about the premises by the Lessee or any representative o r invitee of the Lessee. 9. This Inductors may be terminated by either party hereto at any time upon thirty (30) days' written notice to the other. Notices to the City may be addressed to the City Nacager, 73 Carlow Street, Bangor, Raine, 04401; entices to the Lessee shall be addressed to: Northeast Bank A, Treat Co., 2 state Street, Bangor, Maine, 04401. within thirty (30) days after the date of termination of this Indenture, Lessee covenants and agrees to restore the leased premises to the same condition as it was prior to commencement of the aforementioned lease with the Urban Renewal Authority of the City of gauger, and to remove all structures, foundations, landscaping and paving now existing on said premisas, and to remove or cap off all utility linea extending to the leased premeLses. It is agreed among the parties that the Leasee is and shall remain the owner of the structure presently located on the premiaes, and shall have the full right to remove said structure upon termination of this Indaneure; provided, however, if said structure or any improvements remain on said premises at the end of said second thirty (30) day period shall be construed to have been abandoned and shall became the property of the City. Nothing herein shall be construed as waiver by the City of the Lessee's liability for rental charges during said second thirty (30) day period or for restoration of the leased premises to the same condition as it was prior to commencement of the aforementioned Urban Renewal Authority lease. _y_ 10. Lessee shall not encumber, mortgage, assign, sublet or otherwise transfer its interest or any .part thereof under this Indenture without the prior expressed written consent of the City. 11. Failure on the part of the City to Complain of any action or nam-actian an the part of Lessee to be performed under this Indenture shell in no manner be deemed to be a waiver by the City of any of the City's rights hereunder. Further, it is co anted and agreed that no waiver at any time of any of the provisions hereof by the City shall be comtrued as a waiver of any of the other provisions hereunder, and that a waiver at any time of any of the provisions hereof shall Out be construed at any subsequent time to be a waiver of the same provisions. 12. The parties hereto do mutually Covenant and agree that the persons exacutirg this Indenture have the full right, power and authority to enter into this Indenture for the term herein granted,, and that the leased property may be used by the Lessee for the entire term or any extension thereof, for the purposes herein set forth. TN WITNESS p REOF, the parties hereto have set their hands and seals the day and year £Stet written above. Witness CITY OF BANGOR NORTHEAST BAd& 5 MST CO. witness Title _y- LiU L. tf4ENx°rt . ¢rc.0 s-.¢ I 4w t' S �-•� ySX � „ x Nva �aE I k _ j /)/� pExoas4°T FAM uxesx x'x feai xv xox�ry