HomeMy WebLinkAboutMartha A Nutt - Parking Lot Lease 100 1st Street SE• ?a,<Jiti.:::;t4I-,-Imite,a_cidc.c.
PARKING LOT LEASE AGREEMENT
100 1st Street, S.E., Carmel, Indiana
THIS LEASE AGREEMENT is made and entered into this ;L1 at --
day of
September, 1986, by and between Martha H. Nutt (hereinafter referred
to as "Lessor"), and the City of Carmel, a municipal corporation,
(hereinafter referred to as "Lessee").
WHEREAS, Lessor desires to rent to Lessee, and Lessee desires to
rent and take from Lessor certain real estate hereinafter described;
NOW, THEREFORE, in consideration of the mutual covenants
contained herein, the parties agree as follows:
1. Description:
The Lessor lets and leases unto the Lessee, and the Lessee
hereby agrees to take hold as tenant, the following described real
estate in Hamilton County, Indiana, to -wit:
Lot number 1 in the Davis and Bales Addition to the City of
Carmel, Indiana.
2. Terms:
This Lease shall be effective as of the 1st day of October,
1986, and shall terminate on December 31, 1987; unless extended by
both or Lessee's exercise of the renewal option as provided herein.
3. Possession; Use of the Premises:
Full possession shall be given pursuant to this Lease Agreement,
on or before the 1st day of October, 1986. Lessee may use the
premises and "sublet" the premises for parking purposes. Further,
Lessee, at Lessee's option, the general public or private sub tenants
to utilize the premises for short-term public parking.
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4. Rent for the Premises:
The parties acknowledge that the only sources of revenue to
Lessee are lease agreements between Lessee and area businesses and
residents for parking places. Attached to this Lease is a copy of the
Sub -Lease commitment ("sublet" lease) being utilized by Lessee for
individual parking places and it is agreed that the Carmel Parking
Association, Inc. will negotiate the sub -leases, collect rent for them
and remit monies to the City of Carmel Clerk Treasurer.
As rental on the premises, which shall be based on Two Hundred
Dollars ($200.00) per month, Lessee agrees to remit to Lessor by
September 30, 1986 the sum of Six Hundred Dollars ($600.00) for the
months of October, November and December 1986, and the sum of One
Thousand Two Hundred Dollars ($1,200.00) by January 1, 1987 for the
first six months of 1987 and the sum of One Thousand Two Hundred
Dollars ($1,200.00) by July 1, 1987 for the remaining months of 1987.
The Lessee will pay for liability insurance on the premises.
5. Improvements and Alterations:
Lessee is specifically authorized by lessor to improve and alter
the leased premises for the purpose of making the premises suitable
for the parking of vehicles, identifying the parking lot and
identifying the parking space sublet. Lessee is authorized by Lessor,
at Lessee's option, to provide illumination of the premises, no
additional improvements or alterations other than routine maintenance
of the premises shall be made upon the premises except by specific
permission of the Lessor. All improvements made during the term of
this Lease and any extension periods shall become the property of
Lessor upon termination of this Lease.
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6. Forfeiture:
In the event of the failure of Lessee to pay the rent due on or
before the due date, or within a grace period of twenty (20) days
thereafter, or in the event of the violation of any terms or
provisions of this agreement relating to obligations of Lessee, this
Lease shall automatically terminate and all rights of the Lessee shall
be forfeited, and Lessee shall be required to surrender immediate
possession to Lessor, and in surrendering such possession, all
improvements shall be left in as good condition as the same are now
in, reasonsable wear and tear and acts of God excepted. Failure by
Lessor to exercise any right or option granted by this agreement shall
not be constured as a waiver of said right or as a waiver of the right
to exercise the same at the time of any subsequent violation.
7. Transfer by Operation of Law:
In the event of said premises or any part thereof come into
possession of any receiver, assignee, trustee in bankruptcy or sheriff
or other officer by and through any court process or by operation of
law, Lessor may at her option terminate this Lease at any time
thereafter by notice in writing by Certified United States mail to
said Lessee, and may accept rent from such receiver, trustee, assignee
or officer without affecting or impairing any other right of Lessor
under this Lease.
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8. Assignment of Lease:
This Lease shall not be subject to assignment by or on behalf of
the the Lessee without the written consent of the Lessor, and such
consent shall not be unreasonably withheld.
9. Extension of Lease:
In the event the Lessee desires to extend its occupancy of said
premises, notice of such desire shall be given to Lessor thirty (30)
days in advance of the termination date of this Lease. Upon giving
such notice, Lessee shall have the right, privilege and option to
extend the Lease period for an additional period of one (1) year. The
terms and conditions of this Lease shall apply to any extension
hereof.
10. Option to Rent Additional Land:
Lessor grants to Lessee an option to rent the real estate which
is in adjacent to and borders the east line of the premises, more
specifically described as follows: The north one-half of Lot number 2
in Davis and Bales Addition to the City of Carmel, Hamilton County,
Indiana. The parties agree that upon written notice to Lessor by
Lessee, Lessee may rent the above described premises for a term not to
exceed the initial term of this said Lease, and any extensions
thereof. The rent for said one-half lot shall be the sum of One
Hundred Dollars ($100.00) per month, with all of the other terms and
conditions of this Lease being applicable during the leased period.
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11. Holdover of Leased Premises:
If Lessee should continue to occupy the leased premises after
the expiration of this Lease, or of the renewal period thereof,
without any agreement in writing with Lessor as to the terms of said
continued possession, then said additional tenancy shall be on a
month-to-month basis and otherwise at the same rental, subject to the
same adjustments and under the same terms and conditions as provided
in this Lease. In case of such continued possession, month-to-month
tenancy created thereby may be cancelled by not less than thirty (30)
days written notice by either party.
12. Notices:
Any written notice to be given thereunder shall be delivered by
mailing a copy by Certified United States mail, addressed to the other
party as follows:
For service upon Lessor: Martha H. Nutt, 31 South Range Line
Road, Carmel, Indiana 46032.
For service upon Lessee: City of Carmel, City Hall, 40 East
Main Street, Carmel, Indiana 46032.
13. General Provisions:
The convenants and conditions herein contained shall apply to
and be binding upon the executors, administrators and legal
representatives of the parties hereto.
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IN WITNESS WHEREOF, the parties have hereunto set their hands,
, 19S.
this .1p day of
Carmel Parking Association, Inc.
Date:
e Burrell, President
tho /2
Date: /o/ViG
Date: 7/co/flo
Attest:
Dorothy J/ 'ancock
Clerk Treasurer
LESSOR
23,1,017/, Jc/ g = --
Mar a H. Nutt 9- 30 84.
LESSEE
City of Carmel
Board of Public Works and Safety
e A. Reiman, Mayor $ Chairman
oard of Public Works f Safety
by
Billy . Walker, Member
Board of Public Works and Safety
by t16(
Fred Swift, Mem7er
Board of Public Works and Safety
(10
® SUB -LEASE ® e
Parking Lot - 100 1st Street, S.E., Carmel, Indiana
The undersigned hereby sub -leases parking space(s) from
the City of Carmel, Indiana. The terms of this Sub -Lease is for one
(1) year, commencing the day of , 19, through
and including the day of , 19 . Rent is
One Hundred Twenty Dollars ($120.00) per parking space, per year,
payable in equal installments on a semi-annual basis, with the first
payment being due on or before the day of 19
and the second payment being due on or before the day
of , 19
The undersigned acknowledges that the City of Carmel, Indiana
will be unable to provide the above parking space(s) unless sufficient
lease commitments are obtained on or before the day
of , 19 , and that the Carmel Parking Association
will negotiate this sub -lease and collect and turn over all monies
collected to the City of Carmel Clerk Treasurer.
Carmel Parking Association, Inc.
Sub -Lessee
George Burrell, President City of Carmel
Board of Public Works and Safety
Date:
Date:
by
by
Jane A. Reiman, Mayor
Board of Public Works
$ Chairman
$ Safety
Billy L. Walker, Member
Board of Public Works and Safety
Date: by
Fred Swift, Member
Board of Public Works and Safety
Attest:
Dorothy J. Hancock
Clerk Treasurer