HomeMy WebLinkAboutCarmel Utilities/Pedcor Second Amend Leaser
SECOND AMENDMENT TO. LEASE
APPROVED AS To. FORM BY
This-Second Amendmerifto the Lease (the "Second .Amendment') is made,:and entered into lw?
as ofthe day of the I day of kft, tone. 2008 by and between Pedcor'Investrnents;.LLG,
an %diana.Iiinited liability company,, ("Landlord"), and Carmel-Utilities, by,and through the City of
Carmel's Board of Public Works and Safety ("Tenant");
RECITALS':
A. WHEREAS; Landlord and Tenant entered into a`Lease ("Lease") dated the 20'h day of
December, 2002 for certain commercial office building space (the '"Leased.Premises");located at-.760
3rd, Avenue,,S.W., City"of Carmel; Hamilton, County, Indiana and a First Amendmentao'Lease dated
June 6, 2006 (the-First Amendment,is included in the definition of "Lease.");
B. WHEREAS, Landlord and Tenant have agreed to amend the Lease to extend the Term,
and change the'Minilmfm Annual Rent; AND
C. WHEREAS; Landlord and Tenant now wish`toso amend, and. extend the
Lease as providLd'herein.
AGREEMENT:
For and in consideration of, the mutual, covenants, and agreemeiits set forth in this
Amendment, Landlor&and'Tenant hereby agree to amend and extend the Lease, by the addition of
and revision to the corresponding sections, as;failows:
1., Replacement;of Provisrons.,Secfions' 1.02(C;.`l .02(E); and i;:02(F) ofthe Lease are
hereby deleted and replaced ,wit'h ,the following;
a. Section 1.02{C):
"C. Minimum Annual Rent: One Hundred Seventy Four Thousand Five Hundred
and 001160 Dollars { 174;500A0) with an annual three percent (3°/6) increase if Tenant
exercises, its option to add 'an additional lease year to the Term. The Minimum, Annual
Rent for such additional_lease„year shall be-'One Hundred Seventy-Nine Thousand Seven.
Hundred THirty-Five and'no 00/100 Dollars ($179,735.00):"
b. Section L02(E):
"E. Term: Twelve (1'2) months with,one (1') one (1) year option to extend.','
c. Section 1.02(F).
F. Commencement Date;' The_Commencement Date shall be-June 26, 2008."
2. Deletion,of Provisions, Section 2:01 of the U6se'is`deleted in its entiretyand-replaced
with the following:
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"Section.2.01 Term. The'term`ofifiis:Lease shall.bethe period time specified.'in Item E
of the Basic Lease Provisions and shall commence on the- Commencement Date as
provided in ltem F of the basic Lease Provisions (the "Term'')., The Expiration Date shall
be June 25, 2009. IiJs understood' and agreed hoWeVer, that this Lease shall expire'at the
end of tfie pefiod for which the fiscal body(ies)-of'a Tenant has(have appropriated funds
for payments due under this Lease Tor the'term set forth herein.
Option to Extend. 1s otwithsfanding the` foregoing, Landlord hereby grants to Tenant !an
option to extend the Term for one (i) additional one (l) .'yem:.Such extension shall be
upon the same terms and ccnditicros contained in the Lease and, subject to any
amendments that the parties agree: to in w iting. Such option sliall be exercised by
Tenants delivery fo.L' andlord, rvritteri.notice to extend for one'(1) year. Such notice shall
be delivered to Landlord no later, than,six (6) months-,prior to the expiration of the Tenn.
Tenant's;failure.to'deliy& timely notioe:shall give Landlord-the right-t_o'treat such''foliate,
as an extinguishment of the Tenant's right to extend, making the termination date•the
same date on which the then 'current term expires,>or,to waive the failure and allow
Tenant to extend the Term at a date later* than that contemplated-by the,six (6) month.
timeframe set forth above. In,no even t,sl all.Tenant be obligated-to extend this Lease:"
3.. Effect-of Arnendinent: Except, as revised by this Second Amendment, t'he_ Lease shall,
.remain in full force and effect. To the extent of,any conflict between this_,Second Amendment-and the
Lease,.the""terms of this Amendmenttshall control.
IN WITNESS WHEREEOF,,Landibrd and, Tenant have executed this Second Amendment the
day and year fist above written.
(LANDLORD).
PEDCOR INVESTMENTS, LLC, an Indiana
limited liability company
By:.
Printed: au ?"-/;I o`sG?
Title: S vice F"S."ite,4 ¢ C
(TENANT)
Carmel Utilities;:,by'and throe h the City of
Carmel's Board of Public Wos an Safety
By: a ,
James Brainard; Presiding Officer
_ Date:- 617102
112641 M
2.
By Dam/
Ma Ann Burk-e,7Meifiber
Date: 5 / -0.9
By: `
Lori Wac ember
Date: - 177 1/O,e,
A'
Nana L. Cordray, IAMC, Cleik<Treasurer
Date:
11264 12Q