HomeMy WebLinkAbout2002-08-26 02-315 ORDERItem Ho. _
Date: August 26 2002
Item/Subject: ORDER, Authorizing the Execution of a First Amendment to Indenture of
Lease with the Maine Aviation Historical Society
ResponsibleMPO In n1: Legal
On August 18, 1999, the City and the Maine Aviation Museum entered into a lease for a building
and adjacent land. The lease contained the customary language regarding breach and terminator.
On October 22, 2001 the Council passed Council Order #01-901 approving a loan net to exceed
$40,000 to the Maine Aviation Museum for replacement of the roof at the Museum building.
This First Amendment to Indenture of Lease will amend the lease to include that a breach of the
promissory note Is also a breach of the Lease and would permit the City to terminate the lease in that
event ZV
Oepa ent Head
City Manager
Associated Information: Amendment
Budget Approval: a J
IXWYtm/. LT
Finance DIreQOr
Hegar Approval:
City Solicitor
Inytrpduced for
/" Passage
_First Reading Raga j ed, 4
Referral
oz-3ls
AssignedNComrcilor Palmer August 26, zooz
CITY OF BANGOR
(TCfLE.) ORDER, Authorizing the Execution of a First Amendment ba Indenture of
Lease with the Maine Aviation Historical Society
THAT the City Manager is hereby authorized to execute a First Amendment to Indenture
of Lease with the Maine Aviation Historical Society. A copy of said Amendment is
attached hereto.
IF
ie CIVE COUNCIL
Anguar 26. 2002
Passed
"
C/
(TITLE,) Authorizimg thexrecatiom of a
First Amen t to Io mtare o Lease ch
the Maine Aviation Mstorical Society
Assigned to Councilor
9 eLv, m
02-315
FIRSTAMENDMENT TO
WDENTORE OF LEASE
This Find Amendmentto Indenture of Lem executed this Z day of !l
2002, by and between:
CITY OF BANGOR, a munampal corporation organized and existing under and by virtue
of the laws of the State of Maine, and having its privripal offices a 73 Harlow Sheet,
Bangor, Maine (hereinafter referred to as "Lessor')
AND
MAINE AVIATION HISTORICAL SOCIETY, a von -profit corporation organized and
existing under the laws of the Sante of Maine (hereinafter referred to as Lessee)
WHEREAS, the Lessor and Lessee entered into an Indenture of Lease dated
August 18,1999; and
WHEREAS, the Lessor bas agreed w loan the Lessee certain sums for the propose
of repairing the roof on the leased premises; and
WHEREAS, said loan is with certain terms and conditions, including a provision
than Lessee will vacme the leased premises and nuum it to Lessor in the event of default
on the Iowa
NOW, THEREFORE, the parties do mutually ague the Indenture of Lease
between the parties dated August 18,1999 shall be amended as follows:
By adding the following on ARTICLE X —TERMINATION:
(6) IfUme breaches any terns or conditions of a Promissory Note between the
Parties far $33,700 dated August 7 2002
In all other respects the Leese between the parties remains in full force and effect,
IN WITNESS WHEREOF, the parties have set thein hands and seals this day of
August 2002.
02-315
MAME HISTORICAL AVIATION SMETY
Wines N
Tide:
a JI
ward A. Barr ICtw�—
Wimess Edward A. Barnett
City Manager