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Home My WebLink About Carmel/Carmel Arts Council/Rental PropertyLEASE AGREEMENT FOR CITY PROPERTY WHEREAS, the City of Carmel, Indiana (the "City"), owns certain real property, a building and other improvements located at 40 W. Main St., Carmel, Indiana (collectively, the "Property"); and WHEREAS, Carmel Arts Council, Inc., an Indiana not -for -profit corporation ("CAC'), wishes to lease and use the Property for their community -oriented arts activities; and WHEREAS, City and CAC now wish to enter into this lease agreement ("Agreement") regarding the Property. NOW, THEREFORE, in consideration of the mutual covenants, conditions and promises contained herein, the parties hereto agree as follows: 1. TERM OF LEASE. A. The initial term of this Lease shall be for two (2) years, commencing on the I st day of January, 2009, and terminating at midnight on December 31, 2010, unless otherwise extended as provided herein. B. The parties may, by written document, properly executed and approved by said parties prior to the expiration date of this lease or the prior extensions thereof, as appropriate, extend the term of the Lease beyond its initial term in one (1) year increments, upon the terms and conditions provided herein or as may be negotiated between them, by separate written agreement. C. Notwithstanding any other term or condition contained herein, City may, without cost or penalty, terminate this Agreement at any time, without cause, upon sixty (60) days prior written notice to CAC. II. RENT AND CONSIDERATION FOR THE USE OF THE PROPERTY. A. CAC agrees to pay to City the sum of Ten Dollar ($10.00) per year for the rental of the Property, and to pay for all Property utilities, for any increase in City insurance costs for the Property and for all other related costs and expenses which City may experience as a result of this Agreement, such additional costs to be recovered as additional rent, which shall be due and owing thirty (30) days after the receipt of written notice of same by CAC. The Carmel Redevelopment Commission shall be responsible for the maintenance and upkeep of the Property. B. Unless the Agreement is earlier terminated, City agrees to lease the Property to CAC for the two (2) year term of this Agreement, plus any extensions thereof. [C:\DOcu. nl, end SarNgs\.cmi 1k6L..] Senmgs\Temp rr Imnma Fi1a�Con¢m.Outlook\QOHGg21G�CvmeLltlsConnci _Lease_2009 (2). do0021/091 III. USE OF THE PROPERTY A. CAC agrees that no activity shall take place at or on the Property which would violate any Federal or State Statute or City ordinance, nor shall any material or equipment be stored at the Property which would be a nuisance to the public or to any private individual. IV. INSURANCE REQUIREMENTS A. CAC agrees to maintain casualty insurance on the Property and to provide coverage for any personal property loss and/or any injury or death to any CAC member and/or to any person visiting the Property on account of any negligent or intentional action or failure to act on the part of CAC, its members, agents, contractors, employees or officers, in the amount of at least Five Hundred Thousand Dollars ($500,000.00). City shall be named as an additional insured on such insurance policy. B. In addition to the foregoing insurance requirements, CAC agrees to annually provide City with a copy of their current insurance coverage. C. City shall maintain and insure its interests in the subject Property, and may duplicate casualty insurance coverage thereon without the same acting as a waiver of the insurance required of CAC hereunder. V. CITY'S REMEDIES FOR BREACH OF AGREEMENT. A. In addition to all other remedies afforded City in this Agreement and/or by law or in equity, in the event CAC fails to maintain the Property or timely make payments pursuant to the terms of this Agreement, City, in its sole discretion, may terminate this Lease upon thirty (30) days written notice to CAC. CAC agrees to remove all of their personal property within thirty (30) days of receiving City's notice to quit the Property premises. B. Any personal property remaining in, on, or at the Property after the thirty (30) day time period for CAC's vacation of same shall be deemed abandoned and City may dispose of it as prescribed by law. VI. MISCELLANEOUS PROVISIONS. A. The parties agree that this Agreement shall be construed under the laws of the State of Indiana, that the Courts of Hamilton County, Indiana, are the proper courts of venue and jurisdiction, and that the parties waive trial by jury in any cause by or between the parties that relates to or arises out of this Agreement. IC\Documems and Settingstsmiclke\Local Satmgs\Tempoary l memet HMNCOnle Ll ullook\QOIiG821G�CatmelAnsCouncil Lease 2009(2).doc10/21/09I 2 B. In the event any provision of this Agreement is determined by a court of competent jurisdiction to be unenforceable, the same shall not affect the remaining provisions of this Agreement. C. The parties agree that no term of this Agreement is intended to devise, transfer or convey any property rights to CAC by City nor create any rights on behalf of any third party. D. City is entitled to encumber the Property with liens or mortgages or other debts or obligations, so long as the same does not interfere with the use of same by CAC. E. This Agreement is not assignable by CAC to any person, corporation or entity. F. In the event that fifty percent (50%) or more of the Property is destroyed or otherwise damaged so as to be unusable for the purpose intended, City shall have the sole discretion as to whether or not to restore, rebuild or otherwise replace the Property, either in whole or in part. G. No waiver by City of any default shall operate as a waiver of any other default or the same default in the future. H. Notices to the parties shall be given at the following addresses, postage prepaid: If to City: Office of the Mayor City Hall One Civic Square Carmel, Indiana 46032 With a copy to: Carmel City Attorney One Civic Square Carmel, Indiana 46032 2. If to CAC: Carmel Arts Council, Inc. 40 W. Main St. Cannel, Indiana 46032 ATTN: President J. This Agreement shall be binding upon the successors, representatives and heirs of the parties. IC:\Documents end Settmgsksmielke\Uo lSeningsuempomry Intemet Files\Content.0 llook�QOHG821G�WmeVnsCouncil Le a 2W9(2) docI 0/21/091 3 IN WITNESS WHEREOF, the parties have executed this Agreement on this day of ,200/ CITY OF CARMEL, INDIANA By and through its Board of Public Works and Safety James Braina , Presiding Officer Date: t Lori S. Wad r,Mejbg Date: l7-ln@-05 Mafy Ar� BurkeM�ler Date �aaa n— i a a�aaua..a CARMEL ARTS jCOUNCIL, 4INC. By: (AuthorizedSignature)Signature) POKC�nf '5QIJIf t FIc��{a Printed Name and Title Date: r e`er CARMEL REDEVELOPMENT COMMISSION Member JCdDoc m ms ends nmgs4mi Ike% ocal SenmgOTemporary Imemet FdesrContentOntlook%QOHGffiIG,Car eW sCow6 lu e_20 (2).docIMIX9]