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HomeMy WebLinkAboutPedcor/Utilities Lease/Utill' T THIRD AMENDMENT T.O'LEASE Appnot!_a As To row sy This'Third,Am dment to the Lease (the "Third. Amendment") is made and entered into as of the day of the. day of ,2009 .by and'between Pedeor Investments, LLC,; as Indiana limited, liability company, ('Landlord"); and Carmel Utilities; by and through-:the City of'Carmel's:Board of Public Works and Safety ("Tenant");. REOtAI..S: A. WHEREAS, Landlord and Tenant entered into:a lease ("Lease) dated the 20°i day of December; 2002 ;for certain. commercial office 'building space (the "Leased. Premise`s") located at. 760 3`d Avenue, S.W., City of Carmel, Hamilton County, Indiana; 13 WHEREAS, Landlord and`Tenantentered into that certain first Arnendnient. to Lease ("First -Amendment'-) dated June 7; 2006 to modify. provisions in the Lease with regard'to Utility Expenses; C. WHEREAS, Landlord and Tenant entered into that certain Second Amendment to Lease ("Second Amendment") dated May 71,2008 to^cxten_d the Term of the Lease and change the Minimum Annual Rent; D. WHEREAS, Landlord and Tenant have agreed to further amend the Lease to extend the Terra and.modify the rrm accordingly; AND E. WHEREAS, Landlord and•Tenani now wish to so amend and extend the Lease; as Provided herein. AGREEMENT: For and, consideration of the mutual covenants and agreements set forth in-this Third Amendment, Landlord and Tenadt'herebyagreeto amend the amend the Lease as. follows, by the addition of and revisionto the corresponding sections,.as follows: L. Replacement of 'Provisions. Sections 1.02 (C), 1.02 (E), and 1:02 (F) of the Lease'are hereby deleted;and?replaced with the following: a. Section L02 (C): "C: Minimum Annual Rent: The Minimum Annual Rent for such additional lease year.shall,be One, 11 und red, Seventy;N i ne Thousand Seven Hundred Thirty-Five and,no 00./110.0 Dollars (S1,79,735.00)." b. Section 1.02 (E): "E. Term: 'Twelve (12) months, with one (1) one (1) year option to extend:" The Lease is hereby extended an,additionaI twelve (12) months frorn.June 26, 2009 until Junc25.2010 ("Extension Term"). . C. Section 1.02 (P) "F. Commencement Date: The Cbmmencement, Date shall be June 26, 2009. 2. Replacentent of Provisions. 5ection.2:01 of the Lease is deleted in its entirety and.replaced`with the following: "Section 2.01. Term. The term of this Lease shall be the period of time specified in Itern E. of the. Basic Lease. Provisions and shall commence on the Commencement Date as provided in Item F of the basic, Lease Provisions (the "Terri"). The Expiration. Date shall be,7une 25, 2010. Ivisunderstood:and agreed, however, that this Lease shalt expire, at the end of thepe iod•for which the Fiscal body(ies) of a Tenant has/have appropriated funds for payments due under this Lease,for,the term sei forth herein. Option to Extend. Notwithstanding the foregoing; Landlord hereby. grants to Tenant an option. to extend .the Term for., one (1) additional one (1), year. Such extension shall he upon the same teribs and conditions contained in the Lease and subject to any amendmentsrthat,the parties-agree to in writing..-Such option shall be exercised by Tenant's delivery to, Landlord; written 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 Term. Tenant's failure to, delivenaimely, notice, shalLgive Landlord the right to treat such' failure as an extinguishment of the Tenant's right to extend ,,making,the termination date the same data on.which.the:then current term expiies, or'to waive the failure, and allow Tenant..the Terms at a later date than that contemplated by the six (6) month`timeframe set forth above: In no event shall'Tenant be obligated to,extcnd this Lease. Effect of. Amendment. Except as revised by this'Third Amendment, the.-Lease, shall remain in full force and effect,_ To the extent-of any conflict between this Third Amendment and the Lease, the 'terms of this Third Amendment shall control. 7 N WITNESS WHEREOF,; Landlord and Tenant have executed this Tliird'.Amendrnenrthe day and year. first above, written. (LANDLOP D) PEDCOR iNVFSTME- TS LLC, an IIndianalimited liability company BY:" Printed: ©ouC/?S 6?G?s Title: s2. V;ce f',pd5:A"k 4 CfQ (TENANT) CITY OF CARAMEL,NDTANA BY ITS BOARD.OF PUBLIC WORKS' AND SAFETY ?} ! o0 Janes Brai Lard; I?residirig Officer Dater Miry An urke, Member ATTEST: iana L. Cordray; MCClerk=Treasurer Date: s&,olc-)`r