HomeMy Public PortalAbout015-2013 - City - Lease Agreement - Credit UnionLEASE
THIS LEASE AGREEMENT, dated this v/`- day of V ( , 2013, by and
between the City of Richmond, Indiana, an Indiana municipality, acting by nd through its Board of
Public Works and Safety, hereinafter referred to as "LESSOR", and the Richmond City Employees
Federal Credit Union, acting by and through its Board of Directors, hereinafter referred to as
"LESSEE".
WITNESSETH:
In consideration of the covenants and terms hereinafter set forth, Lessor and Lessee agree as
follows:
1. PREMISES — Lessor, in consideration of payment and the other terms and conditions
contained herein, does hereby lease to Lessee a portion of Lessor's property commonly known as
that portion consisting of four (4) rooms located on the east side, south corridor, second floor in the
Richmond Municipal Building, 50 North 5t" Street, Richmond, Indiana 47374, the boundaries of
which are marked in red on the attached Exhibit "A" hereto, which is incorporated herein by
reference, and which property is hereinafter referred to as the "Leased Premises". The sole use of the
Leased Premises by Lessee shall be as general office space.
2. TERM — The to Nianf_,
is Lease Agreement shall be for a period of ten (10) years
comment g on the lst day of 2013, and continuing through the 30th
day of U 2023. Notwithstanding such ten-year term, in the event the
Leased Premises are needeU for another project associated with its business, Lessor shall have the
right to terminate this Lease early with at least 180 days prior written notice to Lessee.
3. RENT — Lessee shall pay to Lessor the rental sum of Two Hundred Dollars ($200.00)
per month, which sum shall be payable monthly on the fifteenth (15ffi) day of each month, for the
preceding month, during the term of this Lease.
4. OPTION TO RENEW — Provided Lessee is not in default at such time, it shall have
the exclusive option to renew the Lease for an additional term of two (2) years upon the same terms,
conditions and provisions contained herein, provided that Lessor does not have another use for the
Leased Premises at such time.
Lessee must give Lessor written notice of its intention to exercise the option to renew at least
180 days prior to the expiration of the term herein. Within sixty (60) days thereafter, Lessor shall
notify Lessee in writing whether the Lease may be renewed for the additional two year period, or if
another use will be required, in which event this lease shall terminate at the end of the original two
year period.
5. TAXES — During the term of this Lease or any renewal thereof, Lessor shall be
responsible for advancing payment of any taxes, charges, and assessments upon the Leased Premises
which may become due upon Lessee's use thereof, provided, however, that Lessee is responsible for
any taxes, charges, and assessments, and shall reimburse Lessor within 30 days of receipt of proof of
payment by Lessor for the payment of all such taxes, charges and assessments.
Contract No.15-2013
6. USE OF PREMISES — Lessee shall not permit the Leased Premises to be used for
any unlawful purpose or in any unlawful manner, nor permit any activity which would constitute a
nuisance. Lessee shall not commit waste upon the premises and shall conduct all business in
compliance with applicable laws, ordinances and regulations of any public authority now or hereafter
affecting the Leased Premises.
Lessee shall not perform or cause to be performed any major structural repairs upon or to the
Lease Premises at any time. Lessee shall not perform or cause to be performed any minor structural
repairs upon or to the Leased Premises without the express consent and authorization of the
Richmond Board of Public Works and Safety. Any minor structural repairs authorized shall be done
in a skillful and workmanlike manner consistent with work done by a skilled craftsman.
7. COVENANTS OF LESSOR — Lessor covenants and warrants that it has the lawful
right and authority to enter into this Lease, and that upon the performance of all covenants contained
herein, Lessee shall have the peaceful and quiet enjoyment and use of the Leased Premises without
hindrance on the part of Lessor or any other party claiming title through said Lessor. Lessor shall
continue to have access across the Leased Premises, however, in order to have access to any other
portion of Lessor's property or for the maintaining of any equipment of Lessor located on or about
the Leased Premises.
8. DEFAULT — In the event Lessee fails to pay any rent when due, or if Lessee fails to
perform any other of the terms, conditions and covenants of this Lease, or if Lessee shall become
bankrupt or insolvent, or files any debtor proceeding pursuant to any statute either of the United
States or of any State either by a Petition in Bankruptcy or for the appointment of a receiver or
trustee of all or a portion of Lessee's property, or if Lessee shall abandon said premises or suffer this
Lease to be taken under any writ of execution, then Lessee shall be in default of this Lease.
In the event of such default as described in this paragraph above, other than the case of
default for payment of rent, Lessor shall give Lessee ten (10) days written notice to cure such default
but if such cure has not been completed within the ten (10) day period, Lessor shall have the right to
take any one of the following remedies:
a. Lessor may, at its option, declare all installments of rent due and payable, and upon
such acceleration, sue for the balance due during the term of this Lease.
b. Lessor may, without further notice, immediately re-enter and take possession of the
Leased Premises without terminating this Lease, and sublease said premises for the account of
Lessee, holding Lessee responsible and liable for the difference in any rent received from the sub
lessee, and for the costs and expenses required in procuring said sublease, including, but not limited
to costs of repair, brokerage fees, and attorney's fees. In the event of such re-entry, Lessor may
remove all persons and property from the Leased Premises and store such property in a public
warehouse at the cost of and for the benefit of Lessee, all without notice of legal process and without
being guilty of trespass or being responsible for the loss and/or damage to the property removed.
C. Lessor may terminate this Lease and remove Lessee from the possession of the
Leased Premises and use its best efforts to lease the premises to another, while holding Lessee
responsible for all rents and other payment due until the effective date of such new leasing in
addition to all cost of such removal.
N
In the event of a default for non-payment of rent, Lessee shall have a thirty (30) day right to
cure, provided, however, that Lessee shall not be entitled to a thirty (30) day right to cure no more
than three (3) times each year of the lease term or any renewal herein.
In the event any default hereunder, cannot reasonably be cured within thirty (30) days after
notice, Lessee shall have, at the sole determination and discretion of Lessor, such additional time as
may be reasonably necessary to remedy the same, provided that Lessee in good faith diligently
proceeds and continues to thereafter prosecute the cure of such default. Lessor may, without
obligation, cure at any time and without notice any default by Lessee under this Lease and recover
from Lessee on demand all costs and expenses incurred in such cure, including without limitation,
reasonable attorney's fees, and interest on the amount of the costs and expenses so incurred at the
rate of 15% per annum.
No remedy herein stated is intended to be exclusive of any other remedy and Lessor shall
also have available any and all other remedies available to it pursuant to law. The failure or delay by
Lessor to exercise any right of default shall not impair any such right following further act of default
and shall not be construed to be a waiver to exercise such right upon any subsequent default by
Lessee.
The thirty (30) day right to cure previously described above shall not be available to Lessee
in excess of three (3) times per each year of the Lease terra herein.
Shall it be necessary for Lessor to enforce any of the obligations of Lessee under this Lease,
Lessee further agrees to pay all reasonable costs of enforcement, including, but not limited to,
reasonable attomey's fees, whether or not suit is required against Lessee.
9. NOTICES — Any notice or consent required to be given in writing pursuant to the
terms contained herein shall be sufficient if mailed, return receipt requested, to the following
addresses:
Lessor: Vicki Robinson, Director of Purchasing
City of Richmond, Indiana
50 N. 5�' Street
Richmond, IN 47374
Lessee: Clara Mathews, General Manager
Richmond City Employees Federal Credit Union
50 N. 5" Street
Richmond, IN 47374
or such other address as may be specified from time to time in writing and delivered to the other
party
10. CONTROLLING LAW AND BINDING EFFECT -- This Lease shall be construed
pursuant to the laws of the State of Indiana and if any term or condition shall to any extent be
deemed invalid or unenforceable, the remainder of this Lease shall be valid and enforceable to the
extent permitted by law. This lease shall further be binding upon and inure to the benefit of the
parties, their agents, successors and assigns.
11. MODIFICATION OF AGREEMENT. No modification to this agreement shall have
any force and effect unless and until such modification is signed in writing by both Lessor and
Lessee.
12. EXECUTION OF AGREEMENT. Any person executing this Contract in a
representative capacity hereby warrants that he or she has been duly authorized by his or her
principal to execute this Contract.
IN WITNESS WHEREOF, the parties, through their duly authorized representatives, sign
and execute this Lease as of the date first above written, although the signatures may be on different
dates.
LESSOR
City of Richmond, Indiana
By and through its Board of Public Works
and Safety
s
P
By: P
Vicki Robinson, President
i "4�
Dian Lawson, Member
An any . Fos r, I1, Me'Tder
Date
Approved__ _
Sarah L. Hutton, Mayor
LESSEE
RICHMOND CITY EMPLOYEES
FEDERAL CREDIT UNION
By its Board of Directors
Kevin Wampler, 13resident
Date
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DATE: 41412M
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