Loading...
HomeMy WebLinkAbout2011-05-23 11-166 ORDERCOUNCIL ACTION item No. i b ti Date: S23-2011 item/Subje . Order, Authorizing the Termination of the Indenture of Lease with the Philtrum Corporation at 4 Florida Avenue Responsible Department: Community and Economic Development Since 1986, The Philtrum Corporation has leased the olfloe building at 99 Florida Avenue from the City of Bangor. Phihrum recently purchased a building in the City of Clangor and would like to relocate their off loss to this new location. As a result, Philtrum has requested that the Gry terminate their lease agreement with them, effective July 31, 2011. The arrant lease rum through May 31, 2013. If approved, this order would autllorize the early termination of a lease with Philtrum Corporation. Departrnern Head ManageYs Commends: .'.fir^ W CJe gtotrr�p.,taQ laa luy„ r) ,D pA V"! City Manager Associated Information: 6r Budget Approval Finance Director City Solicitor In"uced for Pasn:age _ First Reading Page _ of _ Referral Fri Assigner ro Councilor - pa]m¢r tlay $. 2011 CITY OF BANGOR (TITLE.) ORDER, Authorizing the Termination of the Indenture of Lease with the Philtrum Corporation at 49 Florida Avenue WHEREAS, the City of Bangor Is the owner of a building located at 49 Florida Ave., Bangor, Maine; and WHEREAS, by Indenture of Lease dated June 4, 1986, the City of Bangor agreed to lease the building to the Philtrum Corporation; and WHEREAS, by subsequent amendments the City of Bangor agreed to extend the term of the agreement to May 31, 2013; and WHEREAS, the Philemon Corporation has requested the Indenture of Lease be terminated as of July 31, 2011; BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT The Oty Manager is hereby authorized, on behalf of the City of Bangor, to terminate the Indenture of Lease between the City of Bangor and Philtrum Corporation, Inc. as of July 31, 2011 in a final form as approved by the City Solicitor or Assistant City Solicitor upon receipt of all lease payments due through July 31, 2011. M CTTY WMIL wy n, zou 1 fY r'I% x 11-166 'I circ CLQ o®m (iRLF,)PutLoxfzin¢ [he Pernim[im of the In evt of Lease Hth the ibilt co�mtlga at 49 M�I& kv i Mf�WeEro[auntlbP o.� �„Ai j j