HomeMy WebLinkAboutC2012-444 - 2/28/2012 - Approved LEASE AGREEMENT
This Lease Agreement is made by and between the CORPUS CHRISTI HOUSING
FINANCE CORPORATION (the "CCHFC"), a Texas housing finance corporation, and
NUECES LOFT TENANT. LLC (the"Tenant"), a Texas limited liability company.
1. Premises. The CCHFC is the owner of Lots 1 and 2, Block 11, Beach Portion,
Corpus Christi, Texas and a long-term leasehold interest in Lots 3 and 4, Block 1 1, Beach
Portion, on which a parking lot has been constructed comprised of approximately 36 covered
spaces located adjacent to the Ward Building at the corner of Chaparral Street and Schatzel
Street in Corpus Christi,Texas(the"Parking Lot").
2. Lease of Premises. The CCHFC leases the Parking Lot to Tenant, and Tenant leases
the Parking Lot from the CCHFC, subject to the terms and provisions of this Agreement. Tenant
shall provide at Tenant's sole cost and expense all services necessary for the management and
operation of the Parking Lot. The parties acknowledge that certain parking spaces are the subject
of existing use agreements on a month-to-month basis, and Tenant accepts the Parking Lot
subject to such use agreements.
3. Term. The term of this Agreement shall commence on April I, 2012 (the
"Commencement Date"), and shall continue on a year-to-year basis; provided that, either party
may terminate this Agreement at any time upon sixty (60) days' written notice from the
terminating party to the non-terminating party.
4. Sublease of Parking Spaces. Tenant shall sublease parking spaces in the Parking Lot
with a preference to downtown residents. The parking spaces shall be subleased to tenants on a
monthly basis for periods not to exceed six(6) months. In the event that any parking space is not
subleased to a downtown resident for ninety (90) days or more, the parking space may be
subleased to non-downtown residents on a month-to-month basis. If downtown residents are on
a waiting list for parking spaces, any parking spaces subleased to non-downtown residents shall
be terminated no later than the end of the immediately following month and subleased to
downtown residents on the waiting list. The form of the sublease is attached as Exhibit A.
5. Rent. Tenant shall pay as rent to the CCHFC the sum of One Thousand Dollars
($1,000.00) each month, such sum to be due and payable on or before the fifth (5th) day of each
month. In the event any rent payment is more than five (5) days past due, a late charge equal to
five percent(5%)of the late payment shall be due and payable with such payment.
6. Records. The CCHFC shall provide to Tenant all records concerning any use of
parking spaces in effect on the commencement date of this Lease. Tenant shall make all records
concerning the sublease of parking spaces in the Parking Lot available for inspection by the
CCHFC during normal business hours, and upon the termination of this Lease all then-existing
parking space subleases and any other agreements in effect concerning the use of parking spaces
or the Parking Lot shall be provided to the CCHFC. Tenant shall obtain certification of income
2012-444
2/28/12
Ord. 029385
CCHFC INDEXED
from each tenant under a parking space lease stating whether or not the tenant meets the low-to-
moderate income eligibility standard established from time to time by the CCHFC.
7. Revenues of Parking Lot Operations. Tenant shall be entitled to all revenues
derived from the operation of the Parking Lot beginning on the Commencement Date through the
date of termination of this Agreement. Any lease or sublease revenues accruing for the operation
of the Parking Lot during such period shall be the property of Tenant.
8. Condition of Parking Lot. The Parking Lot, including its pavement, fencing, gates,
and accessories, is provided to Tenant in "AS-IS" condition without any warranty of fitness or
merchantability, and Tenant accepts the Parking Lot in such condition. Upon the termination of
this Lease, the Parking Lot shall be returned to the CCHFC in similar"AS-IS"condition, subject
to normal wear and tear.
9. Exclusion of Ward Building. The parties acknowledge that no rights or
responsibilities concerning the Ward Building located adjacent to the Parking Lot are covered by
this Lease. Tenant shall have no rights to the use of the Ward Building nor shall Tenant be
obligated to maintain any part of the Ward Building.
10. Maintenance. Tenant shall maintain the Parking Lot fencing, gates and accessories
in their current condition, normal wear and tear excepted. Tenant shall not be responsible
generally for maintenance of pavement; however, Tenant shall be responsible for any pavement
repairs required by the actions of Tenant.
11. Insurance. Tenant shall maintain general liability insurance on the Parking Lot
premises and name the CCHFC as an additional insured. Tenant may, at its option, insure its
obligations to maintain the fencing, gates and accessories through policies of property insurance
owned by Tenant.
12. Notice. Any notice, correspondence or payment made pursuant to this Agreement
must be made by(a) depositing the same in the United States mail, postage prepaid, addressed as
follows, or (b) delivering the same to the other party. Any notice given in accordance with (a)
shall be effective upon deposit in the United States mail, and the addresses of the parties hereto
shall, until changed by written notice to such effect, shall be as follows:
Corpus Christi Housing Finance Corporation
1201 Leopard Street
P.O. Box 9277
Corpus Christi, Texas 78469
Attn: City Manager
Nueces Loft Tenant, LLC
13411 FM 1560 North
Helotes,Texas 78023-4159
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13. Landlord-Tenant Relationship. The parties agree that the only relationship created
by this Agreement is that between the CCHFC, as landlord, and the Tenant, as a tenant. Tenant
is not an agent,employee,joint venturer or partner of the CCHFC.
14. Entire Agreement. This Agreement expresses the entire agreement between the
parties. Any prior or contemporaneous oral representation shall have no effect. No amendments
shall be effective unless in writing and signed by both parties.
15. Effective Date. This Agreement shall be effective as of the last date of execution
below.
CORPUS CHRISTI HOUSING NUECES LOFT TENANT,LLC
FINANCE CORPORATION
By: - --� �_ By:
�1 _-2 4 -
Ronald
L. Olson William L.Hoover
General Manager Manager
By: Troy Riggs,His Dei nee A >".
JDate: Date: /
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ORIGINAL Doclk 2009034600 1`1\
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON,YOU
MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION
FROM THIS INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC
RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE
NUMBER.
SPECIAL WARRANTY DEED
AND ASSIGNMENT OF LEASE
DATE: July 3Q 2008
GRANTOR AND ASSIGNOR: BEACH CENTER CORPORATION
GRANTEE AND ASSIGNEE: CITY OF CORPUS CHRISTI,TEXAS
GRANTEE'S AND ASSIGNEE'S MAILING ADDRESS:
1201 Leopard Street,P.O.Box 9277,Corpus Christi,Texas 78469
CONSIDERATION: Ten Dollars and other valuable consideration.
PROPERTY: The following described Land:
Parcel 1a(Fee simple estate):
Lots One (1) and Two (2), Block Eleven (11),Beach Portion of the City
of Corpus Christi, Texas, as shown by map of said City recorded in
Volume A, Page 3,Map Records of Nueces County,Texas.
Parcel lb(Leasehold Estate):
The leasehold estate pursuant to that Lease Agreement dated June 30, 1983, as
amended between Grover C. Keeton a/k/a Grover Cleveland Keeton, as
Landlord, and Beach Center Corporation, as Tenant, as evidenced by that Short
Form Lease dated June 30, 1983, recorded at Volume 1875, Page 59 of the Deed
Records of Nueces County, Texas,covering the following property:
Lots Three (3) and Four (4), Block Eleven (11), Beach Portion of the
City of Corpus Christi, Texas, as shown by map of said City recorded in
Volume A, Page 3, Map Records of Nueces County,Texas.
Together with and including all of the Grantor's right, title and interest in and to the rights and
appurtenances in any way belonging or appurtenant to said Land, including,without limitation: (i)
any improvements on said Land;(ii)strips and gores,if any,adjacent or contiguous to the Land;(iii)
any land lying in or under the bed of any street, alley, road, creek or stream running through,
abutting or adjacent to the Land; (iv)any riparian rights appurtenant to the Land relating to surface
or subsurface waters; and (v) easements, rights of ingress and egress and reversionary interests
benefitting or serving the Land(the Land and other appurtenant rights being referred to herein as the
"Property").
RESERVATIONS FROM AND EXCEPTIONS TO CONVEYANCE AND WARRANTY:
This conveyance is subject to the following matters to the extent that such are presently in force and
effect and affect the Property:
(1) All easements, rights-of-way and restrictive covenants, if any, of record with the County
Clerk of the County in which the Property is located;
(2) All mineral estate reservations and conveyances (including assignments or reservations of
royalty interests)by Grantor and by Grantor's predecessors in title as shown by the records of
the County Clerk of the County in which the Property is located;and the rights of the owner
of any portion of the mineral estate and the rights of any lessee or other person claiming an
interest in oil,gas and other minerals under oil,gas and mineral leases or other documents as
such is shown by the records of the County Clerk of the County in which the Property is
located.
RESTRICTIVE COVENANT:
This conveyance is further subject to the following restrictive covenant:
On or before March 15, 2009, the Property shall be developed by Grantee as a parking
facility to include not less than thirty-six (36) covered parking spaces. The parking
spaces shall be made available for monthly tenants only, with a preference given to
persons residing in the Downtown Management District in Corpus Christi, Texas.
Grantee may utilize the Property for any other purposes so long as the above minimum
parking requirements are met.
The foregoing covenant shall be a covenant running with the land and specifically shall benefit and
be enforceable by the owner of the property known as all of Lot Seven(7)and a portion of Lot Eight
(8),Block Four(4),Beach Portion of the City of Corpus Christi, Texas,as shown by map of said
City recorded in Volume A, Pages 2-3, Map Records of Nueces County, Texas, located
immediately across North Chaparral Street from the Property. The parties acknowledge that as
to Parcel I b,this covenant pertains only to the leasehold estate.
GRANT OF PARCEL I a OF THE PROPERTY:
Grantor, for the Consideration, in consideration of the Restrictive Covenant provided above and
subject to the Reservations From and Exceptions to Conveyance and Warranty,GRANTS, SELLS,
and CONVEYS to Grantee the Parcel la comprising the Property,together with all and singular the
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rights and appurtenances thereto in any way belonging, to have and to hold unto Grantee,Grantee's
successors,and assigns forever. Grantor binds Grantor and Grantor's successors to specialty warrant
and forever defend all and singular said portion of the Property to Grantee and Grantee's successors
and assigns against every person whomsoever lawfully claiming or to claim the same or any part
thereof, except as to the Reservations From and Exceptions to Conveyance and Warranty, by,
through,or under Grantor,but not otherwise.
ASSIGNMENT OF LEASE COVERING PARCEL 1 b OF THE PROPERTY;
Assignor, for the Consideration, in consideration of the Restrictive Covenant provided above and
subject to the Reservations From and Exceptions to Conveyance and Warranty, ASSIGNS and
TRANSFERS to Assignee the Parcel lb comprising the Property,together with all and singular the
rights and appurtenances thereto in any way belonging, to have and to hold unto Assignee,
Assignee's successors, and assigns forever. Assignor binds Assignor and Assignor's successors to
specially warrant and forever defend all and singular said portion of the Property to Assignee and
Assignee's successors and assigns against every person whomsoever lawfully claiming or to claim
the same or any part thereof,except as to the Reservations From and Exceptions to Conveyance and
Warranty,by,through,or under Assignor,but not otherwise.
When the context requires,singular nouns and pronouns include the plural.
BEACH CENTER CORPORATION
By:
William L.Hoover,President
ACCEPTED:
CITY OF CORPUS CHRISTI, TEXAS
By:
or a Noe,City Manager
STATE OF TEXAS §
COUNTY OF NUECES §
an g This instrument was acknowledged before me on the 3E) day of
,by William L.Hoover,President of Beach Center Corporation,a Texas Co tion,on behalf
of said corporation.
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ej CLARA FEU:4 MP
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--. Notary Public,State of Texas C41V
F:15929 Hoovcr%5 Parking1SWDSB and AL-Beach to City-0724-11-15 doe -3-
STATE OF TEXAS §
COUNTY OF NUECES §
i ...
This instrument was acknowledged before me on the i day of ,
20 by George Noe, City Manager of the City of Corpus Christi, Texas, a Te\P:\ ham le city
and unicipal corporation,on behalf of said corporation. ., i
....A.1-1.Piat''J )1 _J
Notary Public,State of Texas
COME MKS
ik: -° ?t MY COMMISSION EXPISESI
A y t4oNI SII,2A11
fIVICILLBETU__I TQ•
OF
San Jacinto 1itit Serices STATETEXAS
COIDITY OF NIECES
si.,2 N1c) Crancahua, Suite 1500 I hereby certify that this instrusent Mas FILED
,Filey Chrism:, le\as 78470 in file nueber sequence on the date and at the
tiee stasped herein by se, and was duly RECORDED
OF # cwrV L L . 7t 4-I�e,, in the Official Public Records of
tlwets County, Texas
NUMBER OF PAGES – — 1.!M
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DIANA T. AARERRA
NIECES COUNTY,y, 1EXAS
Any provision herein which restricts the Sale, R
ental or use
of the described REAL PROPERTY because of Race,
Color,
Religion, Sex, Handicap, Fasiiial Status. or Nat
Tonal Origin
is invalid and unenforceable under FEDERAL LAN,
3/12189.
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Official Records of
IIECES COUNTY
DUNAY CLE RA
Fees t27.AB
ORIGINAL
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