HomeMy WebLinkAbout2001-05-14 01-203 ORDERItem No, 01-203
Date: May 14. 2001
Item/Subject ORDER, Authorizing second Amendment to Indenture of lease --
University of Maine System
Responsible Deparbnent Legal
Commentary:
On December 17, 1970 the City and University of Maine entered into a lease for certain property M the
Bangor Campus and ChancellDYs Office. Since then, the parfies have been involved in discussions about
extending the lease and ultimately disposing of Me City and University property in the area. The lease
expired on December 17, 2000 but may be renewed by the University subject M negotiation of rent and
other terms. The lease was renewed in November 2000 to extent it until May 10, 2001. Negotiations
have been ongoing but more time is needed. This Order would extend the lease an addidonal 90 days.
The Business & Economic Development Committee recommended approval at its meeting on May 8,
2001.
Department Head
Manager's Comments:
City Manager
Associated Information: Second Amendment
at Finance Dirednr
Legal Approval:
City Solicitor
Introduced for Consent Agenda
3 passage
_ First Reading page 1 of 4
Referral
Assipwwcouncilor Paler M y 14, 2001
s x�.
CITY OF BANGOR
(T !.E.) ORDER, Authorizing Second Amendment to Indenture of Lease --
University of Maine System
ay Dce Qtyfaunal & the OI y of Eangw.
ORDERED,
THAT the City Manager is hereby authorized, on behalf of the City of Bangor, to
execute a Second Amendment to Indenture of Lease with the University of Maine
System. A copy of said Second Amendment Is attached hereto.
m cin cooxcn
flay 16, 2001
Passed M 0I-203
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MERKI O & 0 E B
(TITLE,) Auth"LZ: g second Aamdmest to
Ianeatare o e - vexa m
System
Assigned to Councilor fOLA"
tea.
'01-203
SECOND AMENDMENT TO INDENTURE OF LEASE
THIS AMENDMENT, executed in duplicate, thiswe2 day of ////� ,
2001, by and beten: /I
CITY OF BANGOR, a body politic end corporate,
duly organized and existing by virtue of the laws
of the State of Maine, and being located in the County
ofPeromat, State of Maine (hereinafter sometimes
referred to as the "City")
[1CUi
UNIVERSITY OF MAINE SYSTEM, a body pontic
and corporate, duly organized and existing under end
by virtne of the laws of the State of Maine (hereinafter
sometimes refmred to as the "University")
WITNESSETH
WHEREAS, by Indenture of Lease dated December 17, 1970, the City lensed to
the University certain premises described therein located on the easterly side of Maine
Avenue, Bangor Maine, said Indenture ofLom having been subsequently amended; and
WHEREAS, the term of said Indenture of Lease expires December 17, 2000,
subject to the University's right on renew the htdenauo of Lease subject to certain
conditions; and
WHEREAS, We City and the University sn to negotiate the terms end
conditiore ofa renewal ofthe IndenNre of,{�(e}f]�a!�,I°G/f
WHEREAS, the parties excewe Amendment to hrdemure of Lease in
November 2000 to extend the teen of the lease Until May 10, 2001; and
WHEREAS, the parties have continued to negotiate the terms and conditions of
renewal of the Indenture of Lease; and
WHEREAS, the parties agree that said negotiations will extend beyond the
termination date of May 10, 2001 of said Amendment to Indenture of Lease.
01-203
NOW, THEREFORE, the parties agree as follows:
(1) That Article 11 of said Indenture of Lease dined December 17,1970, as amended,
shall be amended by deleting the termination date of May 10, 2001, as amended by
the November 2000 Amendment to lnderrhne of Lease, and replacing it with Aagost
10, 2001.
(2) Each and every other provision of the Indenture of Lease dated December 17,1970,
as amended, shall remain in thll have and effect.
IN WITNESS WHEREOF, the parties hereto have set their hands and seals the day
and you written above.
I1NNE0FMA / SYS 'M
Witness e: !p' �Ud5pECC. �i9/i7�Fp%