HomeMy WebLinkAboutResolution - 2005-R0178 - Ground Lease Agreement - Trancas Capital LLC - 04_28_2005Resolution No. 2005-RO178
April 28, 2005
Item 22
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 Ground Lease
Agreement between the City of Lubbock and Trancas Capital, LLC, and related
documents. Said Lease 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 this 28th day of April 2005.
ATTEST:
Rebecca Garza, City Secret
VED AS TO CONTENT:
11s
Harlan Stauffer,`Faciliti
APPROVED AS TO FORM:
qo-hn M. Knight
Assistant City Attorney
CityAtt/John/Resolutions/Lease Agrmnt-Putt-Putt.res
February 21, 2005
6025
LGIOR"I "It-1wN
This Lease is entered into on the I" day of March 2005 between the City of
Lubbock ("Landlord"), a Texas municipal corporation, and Trancas Capital, a limited
liability company, ("Tenant").
ARTICLE 1. DENUSE OF LEASED PREMISES
In consideration of the mutual covenants and agreements of this Lease, and other
good and valuable consideration, Landlord demises and leases to Tenant, and Tenant
leases from Landlord, the premises situated at 5110 29th Drive, in the City of Lubbock,
Lubbock County, Texas, legally described on Exhibit "A" attached to this Lease, and
made a part of this Lease for all purposes (collectively referred to as "the premises" or
"the leased premises" in this Lease).
Tenant is to have and to hold the premises, together with all rights, privileges,
easements, appurtenances and immunities belonging to or in any way appertaining to
them, including but not limited to any easements, rights, title and privileges of Landlord,
existing now or at anytime during the lease term.
ARTICLE 2. LEASE TERM
2.01. Fixed Beginning and Termination Date. The term of this Lease shall be
for five (5) years duration and shall continue thereafter unless either Tenant or Landlord
gives six (6) months advance notice of termination.
2.02. Right to Extend. Tenant may extend this Lease for one (1) additional five
year period by giving Landlord written notice of Tenant's intention to do so within the
last six (6) months before the leas term expires but no later than thirty (30) days before it
expires, under all the terms of this Lease.
2.03. Termination. This Lease will terminate without further notice when the
term specified in 2.01 expires, and any holding over by Tenant after that term expires,
other than as provided in 2.02, will not constitute a renewal of the Lease or give Tenant
any rights under the Lease in or to the premises.
2.04. Holdover. If Tenant holds over and continues in possession of the
premises after the lease term (or any extension) expires, other than as provided in 2.02,
Tenant will be considered to be occupying the premises on an at will tenancy, subject to
all the terms of this Lease.
ARTICLE 3. RENT
3.01. Minimum Monthly Rent. Tenant will pay Landlord One Hundred
Twenty-five and no/100 Dollars ($125.00) as good and valuable consideration, per
month, during the first five (5) years of this Lease as rent for using and occupying the
premises. This amount is the "minimum monthly rent."
3.02. Automatic Rental Adjustments. During the lease term specified in 2.01
and during any extension period of the Lease, the monthly rent will continue to be One
Hundred Twenty Five and no/100 Dollars '($125.00) per month. An adjustment shall be
done at the time the freeway is completed in the area and no longer causes any extra
expense for cleaning of the area. This new rate shall be adjusted on the anniversary date
of the Lease according to the CPI-U. The CPI-U can be found at http://wwNv.bls.g_ov
under CIP-U, other goods and services. If the construction is not completed during this
term, no adjustment will be made to the rental rates.
3.03. Time and Manner of Pam Tenant will pay all rent due under this
article on a monthly basis. Such monthly rent is due on or before the first of each month.
Payments must be made to the designated representative of Landlord in lawful money of
the United States in Lubbock, Texas. Landlord hereby acknowledges receipt of payment
for the months of March, April and May 2005. Tenant's first payment, pursuant to this
Agreement, shall be due and payable on or before June 1, 2005.
ARTICLE 4. TAXES
4.01. Payment by Tenant. In addition to the rent specified in Article 3, Tenant
will pay and discharge all taxes, general and special assessments, and other charges of
any kind levied on or assessed against the premises and all interests in the premises and
all improvements and other property on them during the lease term, whether belonging to
Landlord or"to Tenant. Tenant will pay all the taxes, charges, and assessments directly to
the public officer charged with their collection not fewer than 15 days before they
become delinquent, and Tenant will indemnify Landlord and hold it harmless from all
such taxes, charges, and assessments. Tenant may, in good faith at its own expense (in its
own name or in that of Landlord, or both, as Tenant may determine appropriate), contest
any such taxes, charges, and assessments and must pay the contested amount, plus any
penalties and interest imposed, if and when finally determined to be due.
4.02. Payment by Landlord. At any time that the payment of any item of taxes,
special assessments, or governmental charges that Tenant must pay under 4.01 remains
unpaid and uncontested later than 15 days before it becomes delinquent, Landlord may
give written notice to Tenant of its default under 4.01, specifying the default. If Tenant
continues to fail to pay taxes, special assessments, or governmental charges, or to content
them in good faith within 10 days after the written notice, Landlord may pay the items
specified in the notice, and Tenant will, on demand, reimburse Landlord any amount paid
or expended by Landlord for this purpose, with interest on the amount at the rate of 10%
annually from the date of Landlord's payment until reimbursement by Tenant.
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5.01. Tenant will pay or cause to be paid any charges for water, heat, gas,
electricity, sewers, and all other utilities used on the premises throughout the lease term,
including any connection fees.
ARTICLE 6. USE OF PREMISES
6.01. Permitted and Prohibited Use of Premises. a. Tenant may use the
premises for the purpose of a customer parking area and for no other purpose without the
written consent of Landlord.
b. Subject to the terms hereof, during the term of this Lease Tenant will not
use or cause to be used on the premises any hazardous or toxic substances or materials, or
store or dispose of any such substances or materials on the premises.
C. During the construction of the Marsha Sharp Freeway the City of Lubbock
Water Department may lose part or all of their existing right-of-way entry. In the event
the Water Departments right-of-way entry is lost, a part of the leased parking area may be
withdrawn from this Lease to allow the Water Department to regain entry access to the
existing Water Pump Station. If or when this event occurs, the monthly rent rate will be
reduced by the current value for each parking space that is reclaimed for the entry.
6.02. Illegal Use Not Permitted. Tenant may not use all or any part of the
premises for any use or purpose that violates any valid and applicable law, regulation, or
ordinance of the United States, the State of Texas, the County of Lubbock, the City of
Lubbock, or other lawful authority with jurisdiction over the premises.
ARTICLE 7. CONSTRUCTION BY TENANT
7.01. General Conditions. Tenant may, at any time and from time to time
during the lease term, erect, maintain, alter, remodel, reconstruct, rebuild, replace and
remove improvements on the premises, and correct and change the contour of the
premises, subject to the following:
a. Tenant bears the cost of any such work.
b. The premises must at all times be kept free of mechanics' and
materialmen's liens.
C. Landlord must be notified of the time for beginning and the
general nature of any such work, other than routine maintenance of
existing improvements, at the time the work begins.
d. The conditions 7.04 concerning Landlord's approving plans must
be followed.
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7.02. Easements, Dedications, Zoning, and Restrictions. Landlord will
cooperate, to the extent it deems feasible, with Tenant concerning easements, dedications,
zoning, and restrictions of the premises as follows:
a. Easements and Dedications. To provide for the more orderly
development of the premises, it may be necessary, desirable, or required that
street, water, sewer, drainage, gas, power lines, and other easements and
dedications and similar rights be granted or dedicated over or within portions of
the premises. Landlord may, in its sole discretion, on Tenant's request, join with
Tenant in executing and delivering the documents, from time to time, and
throughout the lease term, as may be appropriate, necessary, or required by the
several governmental agencies, public utilities and companies for the purpose of
granting the easements and dedications.
b. Zoning. If Tenant considers its necessary or appropriate to obtain
use, zoning, or subdivision and precise plan approval and permits for the premises
or any part of them. Landlord may, in its sole discretion, execute the documents,
petitions, applications and authorizations as are appropriate or required to submit
the premises, or any part of them, for the purposes of obtaining conditional use
permits, zoning and rezoning, tentative and final tract approval, precise plan
approval, and further, for the purposes of annexation to or the creation of districts
and governmental subdivisions.
C. Restrictions. At Tenant's request, Landlord may, in its sole
discretion, from time to time, execute and deliver or join in the execution and
delivery of the documents that are appropriate, necessary or required to impose on
the premises covenants, conditions and restrictions providing for the granting of
exclusive uses of the premises, or any part of them.
d. Expenses. Tenant exclusively bears the cost and expense of any
action requested of Landlord under subparagraphs a through c, above.
7.03. Beginning Maintenance. Tenant expects to take over maintenance of the
lease premises within one month after possession is delivered to Tenant.
7.04. Landlord's Approval of Plans. The following rules govern Landlord's
approving construction, additions and alterations or other improvements on the premises:
a. Written Approval Required. No improvement may be constructed
on the premises unless the plans, specifications and proposed location of the
improvement has received Landlord's written approval and the improvement
complies with the approved plans, specifications and proposed location. No
material addition to or alteration of any structure erected on the premises may be
begun until plans and specifications covering the exterior of the proposed addition
or alteration have been first submitted to and approved by Landlord.
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b. Submission of Plans. Tenant must, at is own expense, engage a
licensed landscape architect, architect or engineer to prepare plans and
specifications for constructing improvements that require Landlord's approval
under subparagraph a above. Tenant must submit two copies of detailed working
drawings, plans and specifications for erecting the statue or monument and the
surrounding landscaping. If Tenant wishes to construct any other improvements
or make any additions or alterations or improvements for which Landlord's
approval is required under Subsection (a) above, Tenant must submit two copies
of detailed working drawings, plans and specifications for any such projects for
Landlord's approval before the project begins.
C. Landlord's Approval. Landlord will promptly review and approve
all plans submitted under subparagraph b above or note in writing any required
changes or corrections that must be made to the plans. Any required changes or
corrections must be made, and the plans resubmitted to Landlord, within 30
business days after the corrections or changes have been noted. Landlord's
failure to object to the resubmitted plans and specifications within 10 business
days constitutes its approval of the changes. Minor changes in work or materials
not affecting the general character of the building project may be made at any
time without Landlord's approval, but a copy of the altered plans and
specifications must be furnished to Landlord.
d. Exception to Landlord's Approval. The following items do not
require submission to, and approval by, Landlord:
i. Minor repairs and alterations necessary to maintain existing
structures and improvements in a useful state of repair and operation.
ii. Changes and alterations required by an authorized public
official with authority or jurisdiction over the buildings or improvements,
to comply with legal requirements.
e. Effect of Approval. Landlord's approval of any plans and
specifications applies only to the conformity of the plans and specifications to the
general architectural plan for the premises, and Landlord may not unreasonably
withhold approval. Landlord's approval does not constitute approval of the
architectural or engineering design, and Landlord, by approving the plans and
specifications, assumes no liability or responsibility for the architectural or
engineering design or for any defect in any improvement constructed from the
plans or specifications.
7.05. Ownership of Improvements and Fixtures. Any improvements, additions,
alterations and fixtures constructed, placed or maintained on any part of the leased
premises during the lease term are considered part of the real property of the premises
and must remain on the premises and become Landlord's property when the Lease
terminates.
7.06. Right to Remove Improvements. Tenant may not remove any
improvements on or to the premises without permission of the Landlord. Before the
Lease terminates, Tenant must repair any damage to any improvements on the premises
resulting from the removal. Any such items not removed by the Lease termination date
will become Landlord's property on that date.
ARTICLE 8. ENCUBRANCE OF LEASEHOLD ESTATE
8.01. Tenant's Right to Encumber. Tenant may not at any time encumber the
leasehold interests, by deed of trust, mortgage or other security interest.
ARTICLE 9. REPAIRS, MAINTENANCE AND RESTORATION
9.01. Tenant's Duty to Maintain and Repair. At all times during the least term,
Tenant will keep and maintain, or cause to be kept and maintained, all improvements
erected on the premises in a good state of appearance and repair (except for reasonable
wear and tear) at Tenant's own expense.
9.02. Damage or Destruction. If any improvement constructed on the premises
is damaged or destroyed by fire or any other casualty, regardless of the extent of the
damage or destruction, Tenant must, within one month from the date of the damage or
destruction, begin to repair, reconstruct or replace the damaged or destroyed
improvement and pursue the repair, reconstruction or replacement with reasonable
diligence so as to restore the structure to substantially the condition it was in before the
casualty. But if beginning or completing this restoration is prevented or delayed by war,
civil commotion, acts of God, strikes, governmental restrictions or regulations, fire or
other casualty, the time for beginning or completing the restoration (or both) will
automatically be extended for the period of each such delay.
ARTICLE 10. MECHANICS' LIENS
Tenant will not cause or permit any mechanics' liens or other liens to be filed
against the fee of the premises or against Tenant's leasehold interest in the land or any
improvements on the premises by reason of any work, labor, services or materials
supplied or claimed to have been supplied to Tenant or anyone holding the premises or
any part of them through or under Tenant. If such a mechanic's lien or materialman's
lien is recorded against the premises or any buildings or improvements on them, Tenant
must either cause it to be removed or, if Tenant in good faith wished to contest the lien,
take timely action to do so, at Tenant's sole expense. If Tenant contests the lien, Tenant
will indemnify Landlord and hold it harmless from all liability for damages occasioned
by the lien or the lien contest and will, in the event of a judgment of foreclosure on the
lien, cause the lien to be discharged and removed before the judgment is executed.
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ARTICLE 11. CONDEMNATION
11.01. Parties' Interests. If the premises or any part of them are taken for public
or quasi -public purposes by condemnation as a result of any action or proceeding in
eminent domain, or are transferred in lieu of condemnation to any authority entitled to
exercise the power of eminent domain, this article governs Landlord's and Tenant's
interests in the award or consideration for the transfer and the effect of the taking or
transfer on this Lease.
11.02. Total Taking — Termination. If the entire premises are taken or so
transferred as described in 11.01, this Lease and all of the rights, titles and interests under
it will cease on the date that title to the premises or part of them vests in the condemning
authority, and the proceeds of the condemnation shall be allocated by the condemning
authority to (i) the real property and (ii) the permanent improvements. The proceeds
allocated to the real property shall be the property of the Landlord and the proceeds
allocated to the buildings and permanent improvements shall be the property of Tenant.
In the event the condemning authority shall not make such allocation, Landlord and
Tenant shall jointly agree to such allocation.
11.03. Partial Taking — Termination. If only part of the premises is taken or
transferred as described in 11.01, this Lease will terminate if, in the opinion of Landlord
and Tenant, the remainder of the premises is in such a location, or is in such form, shape
or reduced size, that Tenant's purpose cannot be effectively and practicably operated on
the remaining premises. In that event, this Lease and all rights, title and interest under it
will cease on the date that title to the portion of the premises taken or transferred vests in
the condemning authority. The proceeds of the condemnation shall be allocated as
described in Section 11.02.
11.04. Partial Taking — Continuation with Rent Abatement. If part of the
premises is taken or transferred as described in 11.01 and, in the opinion of Landlord and
Tenant, the remainder of the premises is in such a location and in such form, shape or
size that Tenant's purpose can be effectively and practicably operated on the remaining
premises, this Lease will terminate with respect to the portion of the premises taken or
transferred as of the date title to such portion vests in the condemning authority but will
continue.in full force with respect to the portion of the premises not taken or transferred.
The proceeds of the condemnation shall be allocated as described in Section 11.02.
11.05. Voluntary Conveyance. Nothing in this article prohibits Landlord from
voluntarily conveying all or part of the premises to a public utility, agency or authority
under threat of a taking under the power of eminent domain. Any such voluntary
conveyance will be treated as a taking within the meaning of this article.
ARTCCLE 12. INDEMNIFICATION AND INSURANCE
12.01. Indemnification of Landlord. Landlord is not liable for any loss, damage
or injury of any kind to any person or property arising from any use of the premises (or
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any part of them), or caused by any defect in any building, structure, improvement,
equipment or facility on the premises or arising from activities contemplated hereby, or
by or from any accident, fire or other casualty on the leased premises. TENANT SHALL
INDEMNIFY AND HOLD HARMLESS, TO THE FULLEST EXTENT PERMITTED
BY LAW, THE LANDLORD, AND LANDLORD'S RESPECTIVE OFFICERS,
EMPLOYEES, ELECTED OFFICIALS AND AGENTS, FROM AND AGAINST ANY
AND ALL LOSSES, DAMAGES, CLAIMS OR LIABILITIES, OF ANY KIND OR
NATURE, WHICH ARISE DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART,
OR ARE RELATED TO, IN ANY WAY, MANNER OR FORM, THE ACTIVITIES
CONTEMPLATED HEREUNDER, OR THE OMISSION OF THE ACTIVITIES
CONTEMPLATED HEREUNDER, INCLUDING, BUT NOT LIM ITED TO, LOSSES,
DAMAGES, CLAIMS OR LIABILITIES ARISING FROM OR RELATED TO, IN
ANY WAY, MANNER OR FORM, THE ACT OR OMISSION OF THIRD PARTIES
AND/OR CAUSED OR CONTRIBUTED TO, IN ANY WAY, MANNER OR FORM,
BY THE NEGLIGENCE OR FAULT OF ANY DEGREE, OF LANDLORD, ITS
RESPECTIVE OFFICERS, EMPLOYEES, ELECTED OFFICIALS AND/OR
AGENTS, AND TENANT FURTHER COVENANTS AND AGREES TO DEFEND
ANY SUITS OR ADMINISTRATIVE PROCEEDINGS BROUGHT AGAINST THE
LANDLORD AND/OR THE LANDLORD'S RESPECTIVE OFFICERS,
EMPLOYEES, ELECTED OFFICIALS AND/OR AGENTS ON ACCOUNT OF ANY
SUCH CLAIM. IN ADDITION, TENANT SHALL PAY TO THE LANDLORD, THE
LANDLORD'S RESPECTIVE OFFICERS, EMPLOYEES, ELECTED OFFICIALS
AND/OR AGENTS, AS APPLICABLE, ALL ATTORNEYS' FEES INCURRED BY
SUCH PARTIES IN ENFORCING TENANT'S INDEMINITY IN THIS SECTION.
12.02. Insurance. Tenant shall procure and carry, at its sole cost and expense
through the life of this Lease, insurance protection as hereinafter specified, in form and
substance satisfactory to the Landlord, carried with an insurance company authorized to
transact business in the State of Texas, covering all foreseeable aspects and operations in
connection with this Lease, including, but not limited to, all aspects, operations and/or
occurrences to which Tenant has indemnified the Landlord, as provided in Section 12.01,
above. The Landlord shall submit a Certificate of Insurance specifying each and all
coverages to the Landlord no later than thirty (30) days after the execution of this Lease.
Tenant shall provide to the Landlord proof of the below -described insurance on or before
fourteen (14) days prior to the expiration date of each expiring policy. Tenant shall cause
each required policy to require the insurer to (i) give notice to the City, as specified
herein, of termination of any such policy sixty (60) days before such termination is to be
effective; and (ii) contain a waiver of any and all of the insurer's rights to subrogation
that any such insurer or insurers may acquire by virtue of payment of any loss under such
insurance.
A. Comprehensive General Liability Insurance. Tenant shall have
comprehensive general liability insurance, with limits of $300,000 combined
single limit in the aggregate and per occurrence. The Landlord shall be named
as a primary additional insured in such policy.
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B. Worker's Compensation and Employers Liability Insurance. Tenant shall
elect to obtain worker's compensation coverage pursuant to Section 406.002
of the Texas Labor Code. Further, Tenant shall maintain said coverage
throughout the term of this Lease and shall comply with all provisions of Title
5 of the Texas Labor Code to ensure that the Tenant maintains said coverage.
Any termination of worker's compensation insurance coverage by Tenant or
any cancellation or non -renewal of worker's compensation insurance coverage
for the Tenant shall be a material breach of this contract. The Tenant may
maintain Occupational Accident and Disability Insurance in lieu of Worker's
Compensation. In either event, the policy must be endorsed to include a
waiver of subrogation in favor of the City of Lubbock.
Employer's Liability with limits of at least $500,000 each accident, $500,000
by disease policy limit, and $500,000 by disease each employee shall also be
obtained and maintained throughout the term of this Lease.
ARTICLE 13. ASSIGNMENT AND SUBLEASE
13.01. Tenant Assignment. Tenant may, with the written permission of
Landlord, sell or assign its leasehold estate in its entirety or any portion of it, or may
sublet the premises or any portion of them or any portion of any building or other
improvement erected on the premises.
ARTICLE 14. DEFAULT AND REMEDIES
14.01. Termination on Default. If Tenant defaults in performing any covenant or
term of this Lease and does not correct the default within 10 days after receipt of written
notice from Landlord to Tenant, Landlord may declare this Lease, and all rights and
interests created by it, terminated. If Landlord elects to terminate, this Lease will cease
as if the day of Landlord's election were the day originally fixed in the Lease for its
expiration. Landlord or its agent or attorney may resume possession of the premises.
Tenant and Landlord agree that, for the purpose of posting the notice required by
Property Code Section 93.002(f), the "front door" of the lease premises will be
determined after construction of the improvements. Upon completion, Tenant will give
Landlord notice of location of "front door".
14.02. Other Remedies. Any termination of this Lease as provided in this article
will not relieve Tenant from paying any sum or sums due and payable to Landlord under
the Lease at the time of termination, or any claim for damages then or previously
accruing against Tenant under this Lease. Any such termination will not prevent
Landlord from enforcing the payment of any such sum or sums or claim for damages by
any remedy provided for by law, or from recovering damages from Tenant for any
default under the Lease. All Landlords' rights, options and remedies under this Lease
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will be construed to be cumulative, and no one of them is exclusive of the other.
Landlord may pursue any or all such remedies or any other remedy or relief provided by
law, whether or not stated in this Lease. No waiver by Landlord of a breach of any of the
covenants or conditions of this Lease may be construed a waiver of any succeeding or
preceding breach of the same or any other covenant or condition of this Lease.
ARTICLE 15. LANDLORD'S WARRANTIES AND COVENANTS
15.01. Warranty of Title. Landlord warrants that it is the owner of indefeasible
title to the premises, subject only to the covenants, conditions, easements and other
matters of record.
15.02. Warranty of Quiet Employment. Landlord covenants that as long as
Tenant pays the rent and other charges under this Lease and observes the covenants and
terms of this Lease, Tenant will lawfully and quietly hold, occupy and enjoy the premises
during the lease term without being disturbed by Landlord or any person claiming under
Landlord, except for any portion of the premises that is taken under the power of eminent
domain.
ARTICLE 16. GENERAL PROTECTIVE PROVISIONS
16.01. Right of Entry and Inspection. Tenant must permit Landlord or its agents,
representatives or employees to enter the premises for the purposes of inspection;
determining whether Tenant is complying with this Lease; maintaining, repairing or
altering the premises.
16.02. No Partnership of Joint Venture. The relationship between Landlord and
Tenant is at all times solely that of Landlord and Tenant and may not be deemed a
partnership or a joint venture.
16.03. Force Majeure. If assumption of maintenance as provided in 7.03 or
curing any default (other than failure to pay rent, insurance premiums or ad valorem
taxes) or performing any other covenant or term is delayed by reason of war, civil
commotion, act of God, governmental restrictions, regulations or interference, fire or
other casualty, each party so delayed is excused from performance during the delay
period.
16.04. No Termination on Bankruptcy. Bankruptcy, insolvency, assignment for
the benefit of creditors, or the appointment of a receiver will not affect this Lease as long
as Tenant and Landlord or their respective successors or legal representatives continue to
perform all covenants to this Lease.
16.05. No Waiver. No waiver by either party of any default or breach of any
covenant or term of this Lease may be treated as a waiver of any subsequent default or
breach of the same or any other covenant or term of this Lease.
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ARTICLE 17. MISCELLANEOUS
17.01. Delivery of Rents and Notices. All rents or other sums, notices, demands
or requests from one party to another may be personally delivered or sent by mail,
certified or registered, postage prepaid, to the addresses stated in this section and are
considered to have been given at the time of personal delivery or of mailing.
All payments, notices, demands or requests from Tenant to Landlord should be
mailed to Landlord at Facilities Manager, P. O. Box 2000, Lubbock, Texas 79457 or
faxed to Landlord at (806) 775-3267, or at such other address or fax number as Landlord
requests in writing.
All payments, notices, demands or requests from Landlord to Tenant should be
mailed to Tenant, Trancas Captial Attn: Gary Fitzpatrick at 95 Enterprise Drive, Suite
340, Aliso Viejo, CA 92656, Phone: (949) 305-4730 Ext. 105 or at such other address as
Tenant requests in writing.
17.02. Parties Bound. This agreement binds, and inures to the benefit of, the
parties to the Lease and their respective heirs, executors, administrators, legal
representatives, successors and assigns.
17.03. Texas Law to Apply., This agreement is to be construed under Texas law,
and all obligations of the parties created by this Lease are performable in Lubbock
County, Texas.
17.04. Legal Construction. If any one or more of the provisions contained in this
agreement are for any reason held to be invalid, illegal or unenforceable in any respect,
the invalidity, illegality or unenforceability will not affect any other provision of the
Lease, which will be construed as if it had not included the invalid, illegal or
unenforceable provision.
17.05. Prior Agreements Superseded. This agreement constitutes the parties' sole
agreement and supersedes any prior understandings or written or oral agreements
between the parties with respect to the subject matter.
17.06. Amendment. No amendment, modification or altercation of this Lease is
binding unless in writing, dated subsequent to the date of this Lease, and duly executed
by the parties.
17.07. Rights and Remedies Cumulative. The rights and remedies provided by
this Lease are cumulative, and either party's using any right or remedy will not preclude
or waive its right to use any other remedy. The rights and remedies are given in addition
to any other rights the parties may have by law, statute, ordinance or otherwise.
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17.08. Attorney's Fees and Costs. If, as a result of either party's breaching this
agreement, the other party employs an attorney to enforce its rights under this Lease, then
the breaching or defaulting party will pay the other party the reasonable attorney's fees
and costs incurred to enforce the Lease.
17.09. Time of Essence. Time is of the essence of this agreement.
17.10. Further Documents. Landlord will from time to time and at any
reasonable time execute and deliver to Tenant, when Tenant reasonably requests, other
instruments and assurances approving, ratifying and conforming this Lease and the
leasehold estate created by it certifying that the Lease is in full force and that no default
under the Lease on Tenant's part exists. But if any default on Tenant's party does exist,
Landlord must specify in any such instrument each such default.
THIS LEASE has been executed by the parties on the date and year first above written.
CITY OF LUBBOCK:
LANDLORD
MAYOR
ATTEST:
me� 3��, oe=
Re ecca Garza, City Secretary
AS TO CONTENT:
Harlan Stauffer
Facilities Manager
APPROVED AS TO FORM:
ohn M. Knight
Assistant City Attorney
as/CityAtt/John/LeaseAgreemen is/Ground Lease -Putt -Putt
February 21, 2005
TRANCAS CAPITAL
TENANT
Owner
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Exhibit "A"
Legal Description
Land located in the City of Lubbock, Lubbock County, Texas described as follows:
BEGINNING at a point, which bears North 1,094.72 feet and East 910.31 feet from the
Southwest corner of Section 17, Block `B"; Lubbock County, Texas;
THENCE North 53 degrees 54' East a distance of 60 feet to a point;
THENCE North 36 degrees 06' West a distance of 219.62 feet to a point;
THENCE South a distance of 101.88 feet to a point;
THENCE South 36 degrees 06' East a distance of 137.31 feet to a Point of Beginning.
Said property is out of and part of property described as Lot 305, Midway Park Addition
to the City of Lubbock, Lubbock County, Texas.
13
D CERTIFICATE 4F LIABILITY INSURANCE OP ID R °A
ACORP2INV-1 04/27/05
PRODUCER THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION
Programs ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE
Sterling i Sterling, Inc. HOLDER. THIS CERTIFICATE DOES NOT AMEND, EXTEND OR
P 0 Box 9017 1 ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW.
Woodbury NY 11797-2002
Phone:516-487-0300 Tax:516-487-0372
P2 Investments, Inc
Ki2508 Cross Dr
lleen TX 76540
COVERAGES
INSURERS AFFORDING COVERAGE NAIC #
INSURER ALexington Ins. Co. - 194:
INSURER B Fireman' s Fund Ins. Co. 131
INSURER C
INSURER D
INSURER E'
THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING
ANY REOAIIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR
MAY PERTAN, THE INSUFW<E AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH
POLICIES, AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID C'JUMS.
LTR
WRN
TYPE OF INSURANCE
POLICY HLAtm
DATE (MIN OM)
DATE (MMNDD/YYI
L T=
GENERAL LUBLITY
EACH OCCURRENCE
S 1,000,000
A
X COMMERCALGENERALLIAB(LITY
SLGL2958414
11/24/04
10/27/05
PRFMI.SFA(Fa r a)
$100,000
CLAMS MADE OCCUR
MED EXP (MY om parson)
$ excluded
PERSONAL 8 ADV INJURY
S 11000,000
GENERAL AGGREGATE
s2,000,000
(;tNt Ab(,RtlinIE LIMIT APPLIES PER.
PRODUCTS-COMP/OP AGG
$1,000,000
PatcV jEcT LOC
Emp Ben.
1,000,000
AUTONOBLE
LIABILITY
COMBINED SINGLE LIMIT
$
ANY Aac
(Ea accident)
BODILY IN,A.RY
S
AL OVAED AUTOS
SCHECUI.ED ALTOS
(Per pe(son)
.
BODILY INJURY
S
HIRED AUTOS
NON OWNED AUTOS
(Per accident)
PROPERTY DAMAGE
:
(Per acpderd)
GARAGE U,4BLLITY
AUTO ONLY - EA ACCIDENT
$
OTHER THAN EA ACC
S
ANY AUTO
S
AUTO ONLY: AGG
EXCESSA M WEiLA LIASILIIY
EACH OCCURRENCE
$5 , 000 , 0 00
A
X OCCUR 7CLAMSMAJE
5336404
11/24/04
10/27/05
AGGREGATE
$5,000,000
s
$
DEDUCTIBLE
S
RETENTION $
I
WORKERS COMPENSATION AND
TORY LIMITS ER
EMPLOYERS' LIABL r Y
EL EACH ACCIDENT
--'
S
ANY PROPRIETORIPARTNER/EXECUTIVE
E.L. DISEASE - EA EMPLOYEE
S
OFFICERIMEMBER EXCLUDED?
IT yes, aeacna6 UrKw
SPECIAL PROVISIONS albw
E.L DISEASE - POLICY LIMIT
S
OTHER
B
Property
HXI97061791
11/24/04
10/27/05
Building 490,000
Contents 100,000
DESCRIPTION OF OPERATIONS / LOCATIONS I VEHICLES / EXCLUSIONS ADDED BY ENDORSEMENT / SPECIAL. PROVISIONS
Multi Exposure FEC - The Parking Lot servicing Putt -Putt Fun Center in
Lubbock, TX. This City of Lubbock is named as a Primary Additional Insured
For any Losses arising from the insured operation on the Parking Lot, and
subrogation against the ity of Lubbock has been waivered.
City Of Lubbock
Facilities Manager
PO box 2000
Lubbock TX_79457
12001108)
SHOULD ANY OF THE ABOVE DESCRIBED POLICES BE CANCELLED BEFORE THE EXPIRATION
DATE THEREOF, THE ISSUING INSURER WILL ENDEAVOR TO MAIL 30 DAYS WRITTEN
NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, BUT FAILURE TO DO SO SHALL
HOSE NO OBLIGATION OR LIABILITY OF ANY KIND IRON THE INSURER, ITS AGENTS OR
REPRESENTATIVES.
I] CORPORATInN IQRR
No Text
DATE (MMm0 0
8 4/27/2005
PRODUCER THIS CERTIFICATEIS ISSUED AS AMATTER OF INFORMATION
ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE
HOLDER. THIS CERTIFICATE DOES NOT AMEND, EXTEND OR
Cossio Insurance Agency ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW.
P.O. Box 1304 COMPANIES AFFORDING COVERAGE
Fountain Inn, SC 29644 COMPANY
864-862-2838 A Fireman's Fund Insurance
INSURED
P2 Investments, Inc.
COMPANY
B
COMPANY
C
4711 Hope Valley
Durham, NC 27707
919-493-9999
COMPANY
D
THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD
INDICATED, NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS
CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS.
EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
LT R
TYPE OF INSURANCE
POLICY NUMBER
Pour ccsccmlc
DATE (MMI ID(YY)
POLICY otamATwN
DATE (MMIDDIYY)
COVERED PROPERTY
LIMITS
AI PROPERTY
X
BUILDING
f / UUU
f / UUU
CAUSES OF LOSS
PERSONAL PROPERTY
f / UUV
BASIC
X
BUSINESS INCOME
f
A
BROAD
SPECIAL
MX I- 9 7 0 617 91
12 / 1/ 0 4
10 / 2 7/ 0 5
EXTRA EXPENSE
BLANKET BUILDING
s
$
EARTHQUAKE
BLANKET PERS PROP
$
FLOOD
BLANKET BLDG S PP
Employee
Dishonesty
$, UUU
$
INLAND MARINE
S
f
TYPE
OF POLICY
f
f
CAUSES
OF LOSS
f
NAMED PERILS
f
OTHER
CRIME
S
f
TYPE OF POLICY
S
BO&M L MACHINERY
f
s
OTHER
LOCATION OF PREMISESIDESCR1PTIDN OF PROPERTY
Family Entertainment Center located at 5225 28tb Street, Lubbock, TX 79407.
Deductible - $2,500
SPECIAL CONOITIONSIOTHER COVERAGES
City of Lubbock named as additional insured
got:.
City of Lubbock
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE
Facilities Manager
PO Box 2000
F,jIPrnON DATE REOF, THE ISSUING COMPANY WILL ENDEAVOR TO MAIL
l UU DAYS E TO THE CERTIFICATE HOLDER NAMED TO THE LEFT,
Lubbock, TX 79457
BUT FALL.URE C NOTICE SHALL IMPOSE NO OBLIGATION OR LIABILITY
OF ANY KWD U E COMPANY, ITS AGENTS OR REPRESENTATIVES.
AUTHORIZED REPRESS A