HomeMy WebLinkAboutResolution - 2002-R0550 - Amendment To Lease Agreement With Marco Steel & Aluminum Co. 12-19-2002 - 12/19/2002Resolution No. 2002-R0550
December 19, 2002
Item No. 20
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 an Amendment to Lease
Agreement with Marco Steel & Aluminum Co. adding office space 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.
Passed by the City Council this 19th day of December , 2002.
MA C Mc OU Ay, MAYOR
ATTEST:
Reb ca Garza, City Secretary V
APPROVED A TO CONTENT:
Mar lkrle, Director of Aviation
APPROVED AS TO FORM:
Linda L. Chamales, Supervising Attorney
Office Practice Section
Resolution No. 2002-RO550
STATE OF TEXAS §
KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF LUBBOCK §
AMENDMENT 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 28"' 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 desires to exercise its right of first refusal (Article Five,
Paragraph 5.01) and amend the Lease by adding the office space in Building 9714 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."
Building 4716, 5618 N. David Avenue: 16,000 square feet
i
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 4714, 5612 N. David Avenue: 1,724 square feet (office space
only)"
II.
Article Three, Section 3.01, Paragraphs D and E are amended to read as follows:
"D. Building rental of #714: 1,724 square feet @ $2.50 per square foot per
year. The annual rental being FOUR THOUSAND THREE HUNDRED
TEN AND NO/100 DOLLARS (54,310.00), which shall be due and
payable, in twelve (12) equal monthly installments of THREE
HUNDRED FIFTY-NINE and 17/100 DOLLARS ($359.17) per month.
E. 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 THREE THOUSAND EIGHT HUNDRED EIGHTY-ONE AND
36/100 DOLLARS ($3,881.36) (Building #716-16,000 sq. ft., Building
4718-10,000 sq. ft. and Building 9714-1,724 sq. ft. @ $.14 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 Building #716) 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 furnish
the Director of Aviation with evidence that such insurance coverage has
been procured and is being maintained.
Amendment to Marco Steel & Aluminum Co.
Page 2
Such payment shall be payable on or before the 20"' day of each month in
the amount of THREE HUNDRED TWENTY-THREE AND 45/100
DOLLARS ($323.45) 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 19th day of December , 2002.
CITY OF LUBBOCK MARCO STEEL & ALUMINUM
BY: BY: (���5'_
AR � cD GAL, MAYOR
Title:
ATTEST: Date:
Rebecca Garza, City Secretary
APPROVED AS TO CONTENT:
Marls , Director of Aviation
APPROVED AS TO FORM:
Linda Chainales, Supervising
Attorney —Office Practice
Amendment to Marco Steel & Aluminum Co.
Page 3
ii
f Leased premises
EXHIBIT A
Resolution No. 2002-R
N D�