HomeMy WebLinkAboutResolution - 2022-R0036 - Amendment to Contract 16364 with Hub City Main Street InvestmentResolution No. 2022-RO036
Item No. 7.11
January 25, 2022
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor of the City of Lubbock is hereby authorized and directed to execute for and
on behalf of the City of Lubbock, a 2021 Lease Amendment, Extension of Term to the Lease
of the "West Texas Cotton Warehouse," by and between the City of Lubbock and Hub City
Main Street Investments, LLC, and related documents. Said Amendment is attached hereto
and incorporated in this resolution as if fully set forth herein and shall be included in the
minutes of the City Council.
Passed by the City Council on January 25, 2022
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DANIEL M. POPE, MAYOR
ATTEST:
Q,gv"X,
Re a ca Garza, City Se et
APPROVED AS TO CONTENT:
Jesica McEachern, Assistant City Manager
APPROVED AS TO FORM:
RES.Lease Amendment -Extension, 2511 Ave. C
1.10.22
Resolution No. 2022-R0036
2021 Lease Amendment
Extension of Term
Date: January 25, 2022 , 2021
Lease:
Lease Date: January 2014
Landlord: J.S. Broadbent Properties, LLC
Tenant: The City of Lubbock, Texas
Premises:--43,830sf and--6,120sf of warehouse space in the "West Texas Cotton Warehouse"
complex, Building 3C, 2511 Ave C, Lubbock, Texas 79401
New Term: January 1, 2022 to December 31, 2026
New Monthly Base Rental Amount: $13,070.25
New Landlord: Hub City Main Street Investments, LLC
Landlord and Tenant agree to the following:
1. The Lease is ratified and extended as modified herein, incorporated herein by reference and
applied in all aspects to the New Term. Capitalized terms not defined herein have the meaning
defined in the Lease. In the event Lease and this Amendment conflict, this Amendment
controls.
2. The Lease is extended from January 1, 2022 to December 31, 2026 (the "New Term".)
Beginning with this Amendment, there are no automatic renewal options.
3. During the New Term, the Base Rental Amount shall be $13,070.25/month.
4. The parties acknowledge that Hub City Main Street Investments, LLC purchased the property,
including the Premises, from J.S. Broadbent Properties, LLC and is the successor -in -interest as
Landlord under the Lease and this Amendment.
All negotiations relating to this agreement are merged herein. There are no promises,
agreements, conditions, undertakings, warranties, or representations, oral or written, express or
implied, among the undersigned parties as to such matters other than as set forth herein. No
waiver, change or modification of this agreement shall be valid unless the same is in writing
and is signed by all of the parties hereto. This agreement and its construction and interpretation
shall be governed by the laws of the state of Texas and, to the extent there is an ambiguity,
shall not be construed against either party more strongly than against the other.
Agreed as of the first date written above.
Hub City Main Street Investments, LLC
By:
Vd1Vc1A'cDougal, Manager
The City of Lub c , Texas
By:
Daniel Pope, Mayor
Hub City Main Street Investments, LLC - City of Lubbock— Lease Amendment (2021)
Attest:
Reb a Garza, City S &re
Approved as to Form:
��. •• �-i- , City Attomey
Hub City Main Street Investments, LLC — City of Lubbock— Lease Amendment (2021)