HomeMy WebLinkAbout2001-08-13 01-313 ORDERItem No. 01-313
Date: August 13 2001
Item/Subject: ORDER, Authorizing Third Amendment to Indenture of Lease --
University of Maine System
Responsible Department Legal
On December 17, 1970 the City and University of Maine entered Into a lease for certain property at the
Bangor Campus and Chancellor's office. Since then, the parties have been involved in discussions about
extending the lease and ultimately disposinq of the CM and University property in the area. The lease
expired on Decanter 17, 2000 but may be renewed by the University subject to negotiation of rent and
other terms. The lease was renewed In November 2000 to extend it until May 10, 2001, and extended a
second time through August 10, 2001. Negmlations have been ongoing but more time Is needed. This
Order would extend the lease an additional 60 days.
The Strategic Issues Committee recommended approval at its meeting on July 30, 2001.
Department Head
Manager's Comments:
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City Manager
Associated Information: That Amendment
Rnance Director
I Legal Approval:
Gty Solicitor
Introduced for Consent Agenda
Passage
_ First Reading Page l of 4
Referral
01-313
AssignN ro Coumilor Ba dacci August 13, 2001
N CITY OF BANGOR
(1711ILE.) ORDER,Authadzing Third AmendmentWIndeMureof Lease --
University of Maine System
By Me Cny found of see pryof argon
ORDERED,
THAT the qty Manager is hereby authorized, on behalf of the City of Bangor, to
execute a Third Amendment to Indenture of Lease with the University of Maine System.
A copy of said Second Amendment is attached hereto.
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+August'13: 2001
Passed
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01-313
tlla:W UVIaW FNITITIMTPa
THIS AMENDMENT, executed is duplicate, this3) day
2001, by and between:
CH'Y OF BANGOR a body politic and corporate,
duly organized and existing by virtue of The laws
of the Sure of Maine, and being located in the County
of Penobscot, State of Maine (hereinafter sometimes
referred to as the "City")
AND
UNIVERSITY OF MAINE SYSTEM, abody politic
and corporate, duly organized and existing under end
by virtue of the laws of the State of Maine forreivaRer
sometimes referred to as the "University")
WITNESSETH
WHEREAS, by Inden0are of Lease rimed December 17, 1970, the City leased 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 tern of said Indenture of Lease expires December 17, 2000,
subject to the University's right to renew the Indenture of Lease subject to certain
conditions; and
WHEREAS, the City and the University wish to negotiate the terms and
conditions of a removal of the Indenture of Lease; and
WFIEREAS, the patties executed an Amendment to forborne of Lease in
November 20M to extend the term of the lease unit May 10, 2001; and
WHEREAS, on May 3, 2001 the parties "seated and Amrndment to Indenture of
Lease m extend the tear of the lease until August 10, 2001; and
WHEREAS, the parties have continued to negotiate the terra and conditions of
renewal of the Indenture of Lease; end
01-313
wi*atEAS, the parties agree that said negotiations will extend beyond the
termination date of August 10, 2001 of said Amendment to Indenture of Leese.
NOW, THEREFORE, the parties agree as follows:
(1) That Article H of said Indenture of Lease dated December 17, 1970, as emended,
shall be amended by deleting the termination date of August 10, 2001, as amended by
the May 3, 2001 Amendmrnt to Indenture of Lease, end replacing it with October 10,
2001.
(2) Each and every other provision of the Indenture of ase dated December 17, IWO,
as amended, shall terraria in full fora and effect.
W WITNESS WHEREOF, the parties hereto have set their hands and seals the day
and year written above.
CITY OF BANGOR
Witness Echwand City
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City Manage
UNIVERSITY OF MAINE SYSTEM
61
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