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HomeMy WebLinkAboutResolution - 032670J - Lease Contract - COL Employee's Federal Credit Union - Original Town - 03_26_1970910 3 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to execute for and on behalf of the city of Lubbock a LEASE CONTRACT between the City of Lubbock and the City of Lubbock Employee's Federal Credit Union attached herewith which shall be spread upon the minutes of the Council and as spread upon the minutes of this Council shall constitute and be a part of this Resolution as if fully copied herein in detail. Passed by the City Council this 26th day of March , 1970. ATTEST: City Secretary -Treasurer ED : . center, Jr., LEASE CONTRACT THE STATE OF TEXAS i KNOW ALL MEN BY THESE PRESENTS: COUNTY OF LUBBOCK f This agreement of Lease was made this2.ja day of .MAR , 1970, by and between the CITY OF LUBBOCK, LESSOR, and the CITY OF LUBBOCK EMPLOYEE'S FEDERAL CREDIT UNION, LESSEE: WITNESSETH: THAT the said CITY OF LUBBOCK does, by these presents, lease and demise unto the said CITY OF LUBBOCK EMPLOYEE'S FEDERAL CREDIT UNION the following described property, to -wit: All of Lot 20, 19 and the North 19 feet of 18, Block 22, Original Town, Lubbock, Lubbock County, Texas; for the term of one year from the first day of April, 1970, to the 31st day of March, 197p, except as provided hereinafter, to be occupied as an office build- ing and not otherwise, paying therefor the sum of 4 600. 00 annually, said sum payhble in monthly installments of $50. 00 each �n the first day of each and every month during this lease, in advance upon the following conditions and covenants: FIRST. That the Lessee shall take good care of the property and its fixtures and suffer no waste; and shall, at its own expense and costs, keep said premises in good repair; keep the plumbing work, closets, pipes and fixtures belonging within the building in good repair; and at the end or other expiration of this term, shall deliver up the demised premises in good order and condition, natural wear and tear and damages by fire and the elements only accepted. Lessee shall make repairs to the roof when necessary and when replacement of the roof and/or repair to the main timbers is determined to be necessary, the Lessor shall be responsible for the costs incurred thereby. Any question re- garding the replacement of the roof shall be determined by the parties after a roofing contractor has inspected the roof and rendered an opinion to its condition. The Lessee shall bare the cost of repair to the exterior water, sewer or gas lines, however, if it should be determined that said lines are in need of replacement or major repair, the allocation of costs between the parties hereto shall be determined at such time. SECOND. That the Lessee shall be responsible for and at its own expense provide for the maintenance of, or replacement of all electrical fixtures, lines, connections and breaker boxes located within the premises above described. THIRD. The Lessor shall be responsible for the structural condition of the exterior walla of the building; the Lessee shall be responsible for and at Its own expense provide for the decorating of the building both exterior and interior and provide such floor covering as it deems necessary; in addition thereto, the said Lessee shall be responsible for all exterior and interior glazing within the building. The Lessee shall notify the Lessor of any deterioration of the condition of the asphalt paving of the parking area within the leased premises, and the Lessor shall make such repairs as are needed. FOURTH. That Lessee shall have the privilege of making such alterations to the building except where such alterations constitute the construction of partitions or removal of partitions which such alterations shall be made only after securing the written consent of the Lessor and all such alterations or improvements to said building shall be the expense of the Lessee, FIFTH. That the Lessee shall, in care of fire or destruction of any other cause, give immediate notice to the Lessor, who shall thereupon cause the damage to be repaired forthwith; but if the premises by the Lessor be deemed so damaged as to be unfit for occupancy, or if the Lessor shall decide not to rebuild, the lease herein granted shall cease, and the rent be paid up to the time of the fire or destruction of any other cause. SIXTH. That the Lessor shall not be liable to Lessee or to Lessee's employees, visitors, and guests for any damages to property or injury to any person caused by the act of negligence of any person on said premises or due to the building on said premises being or becoming out of repair nor for any damages from any defects or want of repair of any part of the building of which the leased premises form a part, but the Lessee accepts such premises as suitable for the purposes of which the same are leased and accepts the building and premises in each and every appurtenance thereto and waives the defects therei and agrees to hold the Lessor harmless from all claims for any such damages. In addition thereto, the Lessee shall furnish to Lessor evidence of a premises liability policy with coverage of $100, 000/$300, 000, SEVENTH. That the Lessee shall have first option to re -lease the prem- ises for an additional year and shall do so by giving notice to the Lessor sixty (60) days prior to the date of termination of the lease. For purpose of notice, all communications shall be directedto the City Manager's office, P. O. Box 2000, Lubbock, Texas 79408. The Lessor expressly reserved the right to demand and receive possession of the demised premises by giving sixty (60) days written notice to the Lessee of its nead to re-enter the premises for public use. The Lessee upon receipt of written notice shall within the sixty-day period vacate the premises. LIGHTH: The Lessee on vacation of the premises may remove all per- aonal property excepting carpeting and the Lessor shall have first option to purchase the air-conditioning equipment which has been installed by the Lessee, terms of the sale to be negotiated at the time. NINTH: It is expressly agreed and understood by and between the parties hereto, that the party of the first part shall have, and by this contract has a valid first lien upon any and all goods, furniture, chattels or property of any description, belonging to the party of the second part, as a security for the payment of all rent due or to become due, and any and all exemption laws in force in this State, by which said property might be held, are hereby expressly waived. WITNESS THE EXECUTION OF THIS INSTRUMENT this 26 day of MAR , 1970. CITY OF LUBBOCK EMPLOYEE'S ATTEST: FEDERAL CREDIT UNION fic, `(7�- ry Attxr,�y