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HomeMy WebLinkAbout2011-06-13 11-188 ORDERCODNCILACTION Item No. { I f Date: lune 13.2011 98 Item/Subject ORDER, Authorizing the Termination of the Indenture of Lease with Hallowell International, LLC. Responsible Department: Community and Economic Development Commentary: If approved, MIs Order would authorize the termination of the Lease between the City and Hallowell International, LLC and allow the City to seek new tenants far the facility. In rally 2011, Hallowell International, ILC ceased business operations at 110 Hill St. which is a City owned facility and had been leased M the company since October 17, 2006. Department Head Manager's Comments: C o.1� (h,C AI.Q../ City Manager Associated Information: Order, Agreement Budget Approval: h� Oil Director WMAY , Mamie _ First Reading Mage _ of _ Referral 11 7.88 G44mv Assignedm Councilor Realley June 13, 2011 CITY OF BANGOR (TITLE.) ORDER, Authorizing the Termination of the Indenture of Lease with Hallowell International, I.I.C. WHEREAS, the City of Bangor is the owner of parcel of land and a building located at 110 Hildreth Street, Bangor Maine; and WHEREAS, by Indenture of Lease dated October 17, 2006, the City of Bangor agreed to lease the parcel of land and the building te Hallowell International, LLC.; and WHEREAS, Hallowell International, LLC has ceased doing business; and WHEREAS, termination of the Indenture of Lease is in the best interest of the parties: BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT Catherine M. Conlow, City Manager of the Cry of Bangor, is hereby authorized to terminate the Lease between the City of Bangor and Hallowell International, LLC., dated! October 17, 2006, said terminate to be substantially as attachetl and in a final form approved by the Oty Solicitor or Assistant City Solicitor. m c1T£ wmcn lme 13. 2011 F"s • L -d" • R1TlGl "th� the Ter iv t[ of the IDd re Lease Hch 9allmnll Inter tioaal. LLC .wgmamcamau. L)e p#�` ].1 ?_88 TERMINATION OF INDENTURE OF LEASE THIS AGREEMENT is made and entered into between the CITY OF BANGOR, a municipal corporation organized and existing order the laws of the State of Maine, and having its principal offices at 73 Harlow Street, Bangor, Maine (hereinafter referred to as "Lessor"), and Hallowell International, LIC, a corporetion organized and existing under the laws of the State of Maine and having a place of business in Bangor, Maine (hereinafter refned to as "Leased'). WHEREAS, the Cityof Bangor is the ownerofaparcel ofland and abuilding located at 110 Hildreth Street, Bangor Maine; and WHEREAS, by Interstate of Lease dated October 17,2006, the City of Bangor agreed to lease the parcel of land and the building on Hallowell International, LLC; and WHEREAS, Hallowell International, LLC has ceased doing business; no WHEREAS, termination of the Indenture of Lease is in the best interest of the parties: NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree, respectively, to release and terminate said Indenture of Lease to the end that upon the execution and delivery of this Agreement, said lease shall be and become null and void and all rights, duties, and obligations of the paries therein shall terminate, and a. Lessee forever releases Lessor from any claim,demand, or cause of action arising out of the lease or its use and occupancy of the leased premises, or the termination of the lease and surrender of the premises. b. Lessor accepts the surrender of the lease and of the premises and forever releases Lessee from any claim, demand, or cause of action arising out of the lease or the use and occupation of the leased premises pursuant to the lease, or the termination and surrender of the leased premises. c. Lessee warrants to Lessor that the lease has not been assigned or transferred and is not and has not been hypothecated, pledged, mortgaged, or in any other way encumbered, and there are no outstanding contracts, and no work has been done, or materials delivered, for which a mechanic's lien could be moron or foreclosed under the laws of Maim. Hallowell Lmernmionk LLC Terminations of Indenture of Lease IN WITNESS WHEREOF, the parties have caused the foregoing instrument to be signed this day of lune 2011. CITY OF BANGOR By: Witness Catherine Carlow, Its City Manager HAI,LOWELL INTERNATIONAL, LLC. By: Duane Hallowell, President PW2of3