HomeMy WebLinkAbout2000-11-27 01-40 ORDERItem No. 01-40
Date: November 27 2000
Item/Subject ORDEIL Authorbong Amendment to Intlenture of Lease -University
of Maine System
Responsible Department: Legal
On December 12, 1970 the City of Bangor and the University of Maine System entered into a lease for
certain property at the UniversiNs Bangor Campus and the Chancellor's office. The lease expires
December 17, 2000 but may be renewed by the University subject M nego0adon of rent and other terms.
Dead reshictions on abutting property of the City and the University expire on May 10, 2001 and MIs
Amendment will extend the lease to that data to give the partles more time to negotiate an extension of
the lease and take into consideration other City and University property.
The Finance Committee recommends approval.
Depart Head
Manager's Comments:
CRY Manager
Associated Inknuation: AmendmeMto Intlenture
Finance Director
Introducetl for L&ftu^'r
e
FirstReading page 1 of 4
_ First
ReMrnl
�,�z Aeeignd bCooncilor glevchette November 27, 2000
CITY OF BANGOR
(=E.) ORDER, Authorizing Amendment to Indenture of Lease --University
of Maine System
By the Ory Cmertll of tie Ory of Aingan
ORDERED,
THAT the Ory Manager is hereby auttomed, an belelf of Nie Ory of Bangor, to exavW an
Amendment W Ind Wm of Lease wtth Me Univ iW of Maine Sys . A copy of sald Amerolmentis
attached herero.
I CITY COMM
Muvenher 27, 2000
Passed
CI Cf.®H
01-60
ORDER
Mft Authorizing Amesdveut to Indenture
of Lease - University of Maine S stem
r.
li PIN /
AMENFE)MENT TO INDENTURE OF LEASE
THIS AMENDMENT, executed in duphome, this lscday of December
2000, by and between: '
CITY OF BANGOR, a body politic and corporate,
duly organized and existing by virtue of the laws
of the Some of Maine, and being located in the County
ofPenobscm, State of Maine (hereinafter sometimes
refened on as the "City-)
AND
UNIVERSITY OF MAINE SYSTEM, a body politic
and coryorete, duly organized and existing under and
by value of the laws of the Same of Maine (hereinafter
sometimes referred to as the "University')
WrrNFSSETH
WHEREAS, by Indenture of Lease dated December 17,1970, the City leazed to
the University certain premises described therein located on the easterly side of Maine
Avenue, Bangor Maine, said Indenture of Lease having been subsequently amended; and
WHEREAS, the term of said Indenture of Lease expires Deco Baer 17, 2000,
subject on the University's right to renew the Indenture of Lease subject to certain
conditions; met
WHEREAS, the City and the University wish to negotiate the corms and
conditions of renewal of the Indenture of Lease and
WHEREAS, the parties agree that said negotiations may extend beyond the
mrmirmtion date of December 17, 2000 for said Iademum of Leese;
NOW, THEREFORE, the parries agree as follows:
(1) That Article 11 of said Indenture of Lease dated December 17,1970, m amended,
shall be amended by deleting the termination data of December 17, 2000 and
replacing it with May 10, 2001.
(2) Each and every other provision of the Indenture of Lease dated December 1],19]0,
as amended, shell remain in full force and effect.
M MTNESS WHEREOF, the parties hereto have on their hands and seals the day
and year written above.
CMM OFY OF�BBA�NGOR
mess Edward A. Barren
City Manager
11MVERISTY OF MAW SYSTEM
Wt[ness B. Rur'ull i u
universiry of ae Maine acne m
Sy
Sysmm