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HomeMy WebLinkAboutC2011-210 - 6/14/2011 - Approvedr ' PARKING SPACE LEASE AGREEMENT This Lease Agreement ( "Lease ") is entered into this L1 day of 2011 by and between 101 SHORELINE LIMITED, a Texas limited partnership, hereinafter referred to as the Lessor, and the CITY OF CORPUS CHRISTI, a Texas home -rule municipal corporation, hereinafter referred to as the Lessee. WHEREAS, Lessor owns title to certain real property and improvements thereon, a parking lot with parking spaces, located on the property bounded by Kinney, Chaparral, Water, and Cooper's Alley Streets, Corpus Christi, Nueces County, Texas, legally described as Block 2, South Beach Addition, as shown on "Exhibit A ", attached hereto and incorporated herein for all purposes; and WHEREAS, Lessee desires to lease one hundred fifty (15 0) parking spaces, as marked in Exhibit A, ( "Leased Premises ") for parking purposes; and WHEREAS Lessor and Lessee had previously entered into a lease agreement for a term of five (5) years sc which expired on the 21 day of January, 2011, and Lessee has been on a month -to -month lease since the nd 22 day of January, 2011; and WHEREAS the Lessor and Lessee agree to renew the lease agreement for an additional term of five (5) years. NOW THEREFORE, in consideration of the mutual covenants in this agreement, the Lessor and Lessee hereby agree as follows: TERM: The term of this Lease is for five (5) years, commencing on the 22 °d day of the first month following the date this Lease is executed by the Lessee (the "Commencement Date "). RENT: The Lessee agrees to pay the Lessor the sum of $3,870.56 per month as rent, which shall be due and payable without demand or notice on or before the twenty- second (22 ° ) day of each month during the term of this Lease, beginning on the Commencement Date. . USE: Except with the prior written consent of the Lessor, the Lessee shall use the Leased Premises as a parking lot only, and for no other purpose. ASSIGNMENT: The Lessee may not assign this Lease or sublet any portion of the Leased Premises without the written consent of the Lessor. SURFACE MAINTENANCE: The Lessor agrees to keep the surface of the Leased Premises in good repair and maintenance during the term of this Lease. Notwithstanding the foregoing, the Lessor will be solely responsible for the costs of surface maintenance and renairs during years one and two of the lease, and Lessee will be solely 2011 -210 M2011 -130 Page 1 of 3 06/14/11 101 Shoreline Limited INDEXED responsible for the costs of surface maintenance and repairs of the Leased Premises for years three through five. During years one and two, Lessor agrees to notify the Lessee, at least ten (10) working days, prior to conducting the surface maintenance and repairs to the Leased Premises. Notice shall be sent to the Corpus Christi Police Department, Attention: Maintenance and Operations Manager at 321 John Sartain, P.O. Box 9016, Corpus Christi, TX 78469. MOWING AND GROUNDS MAINTENANCE: The Lessee will reimburse the Lessor for 60% of the total costs incurred by Lessor for mowing and maintaining the grounds of the Leased Premises, but not to exceed $300.00 a month. The Lessor shall invoice the Lessee promptly upon receipt of the invoice for the mowing and grounds maintenance of the Leased Premises. UTILITIES: The Lessee will be responsible for its proportionate share of the electrical lighting bill and water bill for the Leased Premises. The Lessor shall invoice the Lessee for 60% of the combined cost of the electrical lighting bill and the water bill, less Twenty Dollars ($20.00) per month, which represents an allowance for the Lessor's sprinkler system. PROPERTY TAXES: During years 2 -5 of this Lease, the Lessee shall be responsible for the following proportionate shares of the property taxes on the Leased Premises: Year 2: 30% of the proportionate share Year 3: 60% of the proportionate share Year 4: 90% of the proportionate share Year 5: 100% of the proportionate share ALTERATIONS: The Lessee shall not make any alterations, additions, or structural changes to the Premises without the prior written consent and approval of the Lessor. Any alterations, additions, or structural changes, if approved, shall remain a part of the Premises at the conclusion of the term of this Lease. INSURANCE: The Lessor agrees to maintain adequate insurance to protect against any injuries or damages sustained by individuals while upon the Leased Premises for which the Lessor may be legally responsible for. DEFAULT REMEDIES: The Lessee hereby agrees that if the Lessee defaults in the payment of rent or violates any other covenant of this Lease, then this Lease may be forfeited at the Lessor's discretion if such default continues for a period of thirty (3 0) days after the Lessor notifies the Lessee in writing of any such default and the Lessor's intention to declare this Lease forfeited. Notice shall be sent to the Corpus Christi Police Department, Attention: M aintenance and Operations Manager at 321 John Sartain, P.O. Box 9016, Corpus Christi, TX 78469. Unless the Lessee has completely removed or cured the default within thirty (30) days of receiving such notice, this Lease shall cease and the Lessor shall be entitled to immediately re -enter and retake possession of the Premises. Page 2 of 3 TERMINATION: Either party may terminate this Lease by giving the other party six (6) months written notice. The Lessee agrees to surrender the Leased Premises upon the expiration or earlier termination of this Lease in good and properly repaired condition as existed on the Commencement Date of this Lease. QUIET ENJOYMENT: As long as the Lessee performs all of the covenants and conditions of this Lease, the Lessee shall have peaceful and quiet enjoyment of the Leased Premises for the term of this Lease. AUTHORIZATION: It is understood that this Lease is not binding on the Lessee until properly authorized by the City Council of the City of Corpus Christi, Texas and executed by the City Manager or designee. THIS LEASE IS EXECUTED IN TRIPLICATE, EACH OF WHICH CONSTITUTES AN ORIGINAL. LESSOR: 101 SHORELINE LIMITED By: 101 GENPAR .L.C., its General Partner By: Name: Title: LESSEE: pt}TNORlLED CITY OF CORPUS CHRISTI, TEXAS � - B Ronald L. Olson, City Manager S� ATTEST: B Armando Chapa, City S61retary APPROVED AS TO LEGAL FORM THIS / Z DAY OF t" 2011 ssistant Attor y „ H:\HOME\ROBERTSA\GEN\Property Management\Parking Space Lease Agreement.doc Page 3 of 3 zgMH1B1T All • •r �t"YGtG��C �ffrfcli"7C.�" Lrt�� �Cl6r�� i�r'' hgo4of4 �t9NCiNE�:,,,,,_ .�ST3ATA 511�MEt��10GIC98Nti4ega�atTrudiha�ac ;_ �w woe O's, f. ) �l.