HomeMy WebLinkAboutResolution - 2004-R0026 - Lease Agreement With Marco Steel & Aluminum Co. - 01_22_2004RESOLUTION
Resolution No. 2004-R0026
January 22, 2004
Item No. 29
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 an Amendment #2 to Lease
Agreement with Marco Steel & Aluminum Co. adding the remaining portion of Building
#714 to their leased premises at Lubbock International Airport. 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 Council.
ATTEST:
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Rebecca Garza, City Secretary 1$ -
APPROVED AS TO CONTENT:
APPROVED AS TO FORM:
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Linda L. Chamales, Supervising Attorney
Office Practice Section
Lc:city att/Linda/Res-Marco Steel amend #2
January 7, 2004
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Resolution No. 2004-R0026
January 22, 2004
STATE OF TEXAS
COUNTY OF LUBBOCK
Item No. 29
§
KNOW ALL MEN BY THESE PRESENTS:
§
AMENDMENT #2 TO LEASE AGREEMENT
This Agreement is entered into by the CITY OF LUBBOCK (referred to herein
as Lessor), a Home Rule Municipality of Lubbock County, Texas, and MARCO STEEL
& ALUMINUM CO. (referred to herein as Lessee).
WITNESSETH:
WHEREAS, Lessor and Lessee executed a Lease Agreement on the 28th day of
March, 2002, in which Lessee was granted certain rights and privileges for storing and
processing steel and steel products in Building #716 and a portion of Building #718 at
Lubbock International Airport; and
WHEREAS, Lessee exercised its right of first refusal (Article Five, Paragraph
5.01) and amended the Lease by adding the office space in Building #714 to their leased
premises executed December 19, 2002;
WHEREAS, Lessee desires to amend the lease beginning February 1, 2004 by
adding the remaining portion of Building #714 to their leased premises;
NOW THEREFORE, Lessor and Lessee agree as follows:
I.
Article One, Section 1.01 entitled "LEASED PREMISES" is amended to read as follows:
"Lessor does hereby lease unto Lessee the premises described and being:
Warehouse space and land as shown on Exhibit "A" attached hereto and
incorporated herein by reference, which warehouse space and land are
hereinafter referred to as "leased premises" or "premises."
Amendment #2 to Marco Steel & Aluminum Co.
Pagel
I , LUUJ-f-~C02l_e
Building #716, 5618 N. David Avenue: 16,000 square feet
Building #718, 5620 N. David Avenue: 10,000 square feet (east portion
of 16,000 square foot building)
Adjacent Land East of Building #716: 16,200 square feet
Building #714, 5612 N. David Avenue: 1,724 square feet of office space
and 14,276 of warehouse space"
II.
Article Three, Section 3.01, Paragraphs E and Fare amended to read as follows:
"E. Building rental of #714 (Warehouse Space): 14,276 square feet @
$0.8844 per square foot per year. The annual rental being TWELVE
THOUSAND SIX HUNDRED TWENTY-FIVE AND 69/100
DOLLARS ($12,625.69), which shall be due and payable, in twelve (12)
equal monthly installments of ONE THOUSAND FIFTY-TWO AND
14/100 DOLLARS ($1,052.14) per month.
F. Hazard And Extended Insurance: For consideration of the insurance
provisions specified at Article 6, 6.10, Lessee agrees to pay an annual
payment to Lessor for Hazard and Extended Coverage insurance for the
duration of this Lease, including any extension thereof. Lessee agrees to
pay THIRTEEN THOUSAND EIGHT HUNDRED SIXTY AND
N0/100 DOLLARS ($13,860.00) (Building #716-16,000 sq. ft., Building
#718-10,000 sq. ft. and Building #714-16,000 sq. ft.@ $.33 per sq. ft. per
year) for the first year of this Agreement. Lessor may adjust said payment
for the subsequent years of this Lease and any extension thereof in order
to reflect the actual reasonable cost to Lessor to provide coverage of said
insurance. Lessee shall have the option ( only for Buildings #716 and
#714) to purchase its own Hazard and Extended Coverage insurance based
on building replacement value ($880,000 / $55.00 per sq. ft.), provided
that Lessor approves of the amount and type of insurance purchased by
Lessee. If Lessee provides the Hazard and Extended Coverage Insurance,
Lessor shall be named as an additional insured on the policy. Lessee shall
Amendment #2 to Marco Steel & Aluminum Co.
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furnish the Director of Aviation with evidence that such msurance
coverage has been procured and is being maintained.
Such payment shall be payable on or before the 20th day of each month in
the amount of ONE THOUSAND ONE HUNDRED FIFTY-FIVE AND
N0/100 DOLLARS ($1,155.00) per month for the first year of this Lease
in twelve (12) equal monthly payments. The subsequent payments due to
Lessor during the remaining years of this Lease, including any extension
thereof, shall be payable on or before the 20th day of each month and said
payments shall be apportioned over each year in the amount of one-twelfth
(1/12) of each annual payment."
Executed this 22nd day of ___ J_a_n_u_a_ry..__ ___ , 2004.
CITY OF LUBBOCK
ATTEST:
APPROVED AS TO CONTENT:
Jo
MARCO STEEL & ALUMINUM
BY: ~___.,--'5
Title: ("':)".WQ_,,.(_ h!\Si.,,°'b5;SL,.
Date: \ { <l/ 7 uA
APPROVED AS TO FORM:
~~.c;;Y~~~~.
Linda Chamales, Supervising
Attorney-Office Practice
Amendment #2 to Marco Steel & Aluminum Co.
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