HomeMy Public PortalAbout1990_02_13_R013LeesBurg ~n ~v~irginia
RESOLUTION NO. 90-13
PRESENTED February 13, 1990
ADOPTED February 13, 1990
A RESOLUTION:
TERMINATING TI-I~ LEASE WITH FARRIS SADAK FOR TI-I~ BUILDING AT
6 AND 8 LOUDOUN STREET AND MAKING AN APPROPRIATION
WHEREAS, construction on the municipal parking facility will require the removal of the building
at 6 and 8 Loudoun Street, SW; and
WHE~, the current tenant, Farris Sadak, holds a lease with the town that does not end until
December 16, 1992; and
WHEREAS, Mr. Sadak has agreed to terminate the lease effective March 1, 1990, if the town agrees
to compensate him in the amount of net revenue lost due to early termination.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
SECTION I. The Town Council hereby authorizes the Town Manager to terminate the lease of
6 and 8 Loudoun Street, SW with Farris Sadak effective March 1, 1990 under the condition that the
town compensate Mr. Sadak $12,000 on March 1, 1990, March 1, 1991 and March 1, 1992, for a total
compensation of $36,000.
SECTION II. An appropriation in the amount of $12,000 is made from the General Fund
6-8 Loudoun Street Lease
Unappropriated Fund Balance to account number 200.9100.560.010,
Termination, for the first installment of this lease termination.
PASSED this 13th day of February
ATTEST:
,1990.
Rbbert E. Se¥ila, Mayor
Town of Leesburg
R:6-Slease