Lease Agreement Chamber of Commerce (50 year)LEASE AGREEMENT
THIS LEASE made this ~T~ day 7L~~ , 1988,
between the City of Meridian, a municipal corporation
(hereinafter referred to as "City"), and the Meridian Chamber of
Commerce, Inc., an Idaho corporation (hereinafter referred to as
"Lessee"):
I.
GRANT OF LEASE, DESCRIPTION OF PROPERTY.
AND DURATION OF LEASE
That in consideration of the rents, and conditions on the
part of the Lessee to be paid, kept, and performed as hereinafter
mentioned, City hereby agrees to lease to Lessee a certain parcel
of real property situated in Storey Park, located in the City of
Meridian, Ada County, State of Idaho, said parcel is more
particularly described in Exhibit A which is attached hereto and
incorporated by this reference.
To have and to hold the said parcel of ground unto the use
of said Lessee, its successors and assigns, for the term of fifty
(50) years beginning on the date of these presents. The City
covenants that upon the expiration of said term of 50 years it
will negotiate for another lease of said premises.
II.
Lessee agrees to pay to City as rent for said premises One
and No/100 Dollars ($1.00) per year, which payments are to
commence on the 1st day of October, 1988, and continue on the
first day of each year thereafter during the term of this lease.
LEASE AGREEMENT - 1
III.
CONSTRUCTION OF BUILDING BY LESSEE
Lessee agrees that it will, within twenty-four (24) months
after the execution of this lease, commence, and, without
intermission and with reasonable expedition, proceed with the
erection of a building on the demised land and will at its own
expense completely furnish the same for use and occupation as the
office of the Meridian Chamber of Commerce as well as serve as a
visitor's center, on or before the 1st day of October, 1990, in a
substantial and workmanlike manner, according to such plans,
elevations, sections, conditions, and specifications as shall be
previously approved of in writing by City,. and such new building
shall in every respect comply with the laws, ordinances, and
regulations, municipal or otherwise, that may govern the
construction of same, and Lessee shall save City harmless of and
from any loss or damage by reason of the construction of the new
building, and by reason of any mechanic's liens or encumbrances
of any kind or nature.
IV.
PUBLIC RESTROOMS
As part of the construction of the building set forth above,
Lessee agrees to allocate space in the building for two public
restrooms with exterior entrances. Lessee shall be responsible
for erecting the outside walls to said restrooms and having
water, sewer and electricity hookups available. City agrees to
assume total responsibility for furnishing the plumbing and
LEAS$ AGREEMENT - 2
electrical bathroom fixtures, and shall supply the public
restrooms for the full term of this lease, including paying for
the sewer and water charges and assessments as they relate to the
public restrooms only. The City shall not provide or pay for
electricity for the public restrooms. The Lessee shall install
the electrical and plumbing fixtures furnished by the City.
V.
TAXES. SPECIAL ASSESSMENTS.
PUBLIC SERVICE CHARGES
Lessee agrees to pay all taxes and assessments, general and
special, and all other impositions, ordinary, of every kind and
nature whatsoever, levied or assessed upon the building or
improvements at any time situated on the leased parcel during the
term of the lease.
Lessee shall pay for all water and sewer connection charges
and user charges associated with the structure, except those that
relate to the two public restrooms referenced in paragraph IV
above.
VI.
CONDEMNATION OF LEASED PROPERTY
The parties by this provision provide, for the contingency
that the premises or a portion thereof could be taken by a public
authority under the power of eminent domain during the term of
this lease.
With respect to the compensation recovered upon any such
taking, the parties agree that all compensation for the reduced
value of or the loss of the fee title to the land the City's
LEASE AGREEMENT - 3
interest in the leasehold created by this lease and all other
compensation except that hereafter specifically assigned to the
Leases shall be the property of the City; and that compensation
for the reduced value of or the loss of the improvements,
including the building, located on the leased premises, the
Lessee's moving expenses, the Lessee's loss of business, and the
depreciation of the Lessee's stock and fixtures shall be the
property of the Lessee, subject to reasonable compensation to
City as compensation for its contribution of bathroom fixtures.
VII.
USE OF PREMISES
The parties acknowledge that the City is leasing the
described parcel to Lessee to allow Lessee to use the premises as
the main office of the Meridian Chamber of Commerce, Inc., as
well as to operate a visitor's center at said location. As well
as in addition thereto, Lessee shall be entitled to utilize the
premises use during various chamber and chamber related meetings
and events. Lessee shall also be entitled to operate a visitor's
center on said premises.
In the event Lessee shall cease to use the leased premises
for a Chamber of Commerce office, Chamber of Commerce related
activities, and/or a visitor's center, such shall constitute a
default of this Lease and shall entitle the City to terminate
this lease and/or pursue any remedy herein provided.
Lessee shall make no unlawful use of the leased premises,
nor shall Lessee perform any acts or carry on any practices upon
the premises which may injure the enjoyment of the surrounding
LEASE AGREEI~NT - 4
~.
park or be a nuisance or menace to the City or patrons of Storey
Park.
VIII.
INSURANCE
A. Liability Insurance. The Lessee shall at all times
keep enforced a standard insurance policy insuring the City and
the Lessee against public liability on or in any way connected
with the premises with the limits of liability in those amounts
as currently set forth in the Idaho Tort Claims Act, or in such
amounts as may hereafter be set forth by said Act during the term
of this lease. Lessee further agrees to provide City with
written proof of insurance at least annually, or upon the
reasonable request of City.
B. Lessee to Indemnity City. The Lessee hereby agrees to
indemnify and hold City harmless for any damages or claims-which
arise out of the Lessees use or occupancy of the leased
premises.
C. Fire Insurance. The Lessee shall at all times during
the term of this lease carry and keep in force a standard fire
insurance policy insuring the premises for the full insurable
value hereof with extended coverage.
IX.
CITY~S RIGHT TO ENTER PREMISES
The City shall have the right to enter upon the premises at
all reasonable hours to inspect the same and for any other lawful
purpose.
LEASE AGREEMENT - 5
X.
OUIET ENJOYMENT
The City warrants and agrees that it holds merchantable
title to the premises, and that it shall defend Lessee's peaceful
possession of the premises during the term of this lease against
all interruptions by the City or any person claiming under the
City unless this lease is terminated for the default of the
Lessee.
XI.
CITY'S DEFAULT
If the City shall default in performing any of the
provisions of this lease to be performed by it, the Lessee shall
not pursue any available remedies (except to secure an order or
judgment of court restraining or enjoining each such default)
until the Lessee shall notify the City thereof specifying each
such default. If the City fails to correct each said specified
default within ninety (90) days after service of such notice, the
Lessee may, without further notice, immediately:
(a) Correct each specified default and deduct the costs
thereof from the next payments due to City; or
(b) Pursue any other remedy now or hereinafter provided by
law, no remedy above specified being exclusive.
XII.
LESSEE'S DEFAULT
If the Lessee shall default in performing any of the
provisions of this lease to be performed by the Lessee, the City
shall not pursue any available remedies (except to secure an
LEASE AGREEMENT - 6
order or judgment of court restraining or enjoining each such
default) until the City shall notify the Lessee thereof
specifying each such default.
A. acts of Default. The following, but not limited to the
following, eventualities shall be acts of default by Lessee, upon
occurrence of which City shall have the right to declare this
lease immediately terminated with the consequences herein pro-
vided:
(1) Failure to pay any payment of rent within ninety (90)
days from the date the same becomes due and payable;
(2) Failure to comply with any other provision hereof
within ninety (90) days following written notice of default given
by City, which said notice of default shall specify the matter in
default;
(3) Abandonment of the premises by Lessee; or
(4) Commencement of any proceedings to declare Lessee a
bankrupt, or for relief under any of the Chapters of the
Bankruptcy Act, whether voluntary of involuntary, or the
appointment of any receiver or trustee of the assets of Lessee
situated in or upon the leased premises, or the seizure of all or
any substantial portion of the assets of Lessee in or upon the
leased premises under any levy of attachment or execution which
shall not have been released within thirty (30) days after the
date thereof.
IIpon termination of this lease by declaration of City as
above provided, City shall have the immediate right of re-entry
LEASE AGREEMENT - 7
and may remove all persons and property from the leased premises,
and may cause any property so removed to be stored in a public
warehouse or elsewhere at the cost and risk of, and for the
account of the Lessee, all without service of notice or resort to
legal process and without being deemed guilty of trespass, or
becoming liable for any loss or damage which may be occasioned
thereby. The remedies hereby granted to City, or provided to
City elsewhere herein, shall not be exclusive, but shall be in
addition to all of the other rights and remedies may be
prosecuted by City contemporaneously or otherwise with the
exercise of the said right of termination and re-entry as herein
provided for.
B. Remedies Upon Default. If the Lessee fails to correct
each such specified default within ninety (90) days after service
of such notice, the City may, without further notice,
immediately:
(1) Correct the specified defaults in which case the cost
thereof to the City shall be deemed to be additional rent, shall
be immediately due without further notice of default, and the
City may institute all necessary proceedings to collect the same;
or
(2) Declare this lease terminated in which case the City
shall have the right to re-enter the premises and re-lease the
same.
(3) Declare this lease terminated, in which case all of the
Lessee's rights under this lease and in the premises shall
terminate, the City shall be entitled to immediate possession of
LEAS$ AGREEMENT - 8
the premises and all. rent paid in advance shall become the
property of the City as rent and liquidated damages for the use
of and injury to the premises and for breach of this lease; or
(4) Pursue any other remedy now or hereafter provided by
law, no remedy above specified being exclusive.
XIII.
The Lessee shall not sell or contract to sell or assign or
contract to assign this, lease or sublet or part with possession
of the premises or any part thereof, or otherwise transfer or
hypothecate or assign as security or pledge or otherwise encumber
the Lessee's interest in this lease or in the premises or any
part thereof. It is agreed the reason and justification for the
above restriction on alienation and transfer is reasonable and
the City would not lease this property to any entity other than
Lessee for any use other than that stated in this lease. Any
violation of the provisions of this paragraph by the Lessee shall
constitute a default by the Lessee entitling the City to pursue
any remedy herein provided for the default of the Lessee.
XIV.
ENFORCEMENT EXPENSE
If any court action is brought to enforce any of the
provisions of this lease, the losing party shall pay to the
prevailing party a reasonable attorney's fee in such action.
LEASE AGREEMENT - 9
XV.
ALL MODIFICATIONS TO BE WRITTEN
No modification of this lease nor any waiver of a provision
hereof shall be of any force or effect unless the same is in
writing and signed by the parties hereto.
XVI.
NOTICES
All notices required or permitted to be given hereunder
shall be in writing and shall be sent postage prepaid by United
States registered mail, return receipt requested. A notice
mailed and addressed to the address set opposite the signature
hereto of the party for whom the notice is intended, shall be
deemed served and conclusively presumed to have been received the
day after it is mailed. Any party may, by written notice given
as herein provided, change the address for notices to be sent to
such party.
XVII.
TIME OF ESSENCE
Time and prompt performance of each provision of this lease
is of the essence.
XVIII.
WAIVER
Waiver by one party of one or more defaults in performance
of any provision herein contained to be performed by the other
party shall not waive the provision itself or any subsequent
default in performance thereof or the provisions of this
paragraph.
LEASE AGREEMENT - 10
XIX..
GOVERNING LAW
All questions relating to the construction and validity of
this lease agreement shall be determined in accordance with the
laws of the State of Idaho.
XX.
INTERPRETATION
The underlined paragraph headings used herein are for
convenience only, are not a part of this lease, and shall not be
used in construing it. This lease is executed in several
counterparts and each counterpart shall be deemed an original for
all purposes. Each provision of this lease to be performed by
the Lessee shall be construed to be both a covenant and a
condition. The term "person" shall include all legal entities,
including, but not limited to, person, partnership, corporation,
trust, estate, association, or governmental unit. Singular terms
used herein which relate to the City or to the Lessee shall be
read as if written in the plural when the context so requires or
permits.
XXI.
BINDING EFFECT
Th® agreements herein contained shall be binding upon, apply
and inur® to the City's and the Lessee's respective heirs,
executors, administrators, successors and assigns.
LEASE AGREEI~NT - 11
XXII.
Effective date means the date that this lease agreement is
dated above and is the date on which it will take effect
regardless of whether the parties hereto signed it before or
after such date.
XXIII.
Upon the expiration of the term, or termination of this
lease, or a subsequent consecutive lease ,of ~ntered into as
negotiated under paragraph I above, the Lessee shall, and hereby
does, grant to the City, the first right to purchase the building
constructed as called for in paragraph III above. The terms of
said purchase shall be negotiable but in the event the price or
terms are changed from what is offered to the City it shall be
re-offered to the City for the same price and terms, as changed.
IN WITNESS WHEREOF, the parties have subscribed their names
and have, set their seals on the day and year first above written.
CITY OF MERIDIAN, IDAHO
33 E. Idaho Street
Meridian, Idaho 83642
By
onorable Grant K n ford
Mayor
LEASE AGREEMENT - 12
ATTEST:
ATTEST:
MERIDIAN CHAMBER OF COMMERCE,
P.O. Hox 557
Meridia I o 83642
By
Steven Ande on
President
E. Fay nan
First ce Presiden
STATE OF IDAHO
ss.
INC.
County of Ada
On the -Z day of S~1-e~-~.6er , 1988, before me, the
undersigned, a Notary Public in and for said State, personally
appeared STEVE ANDERSON, known to me to be the President of the
MERIDIAN CHAMBER OF COMMERCE, INC., and E. FAYE BUCHANAN, known
by me to be the First Vice President of the Meridian Chamber of
Commerce, Inc., the persons whose names are subscribed to the
within and foregoing instrument and acknowledged to me that they
executed the same of behalf of said corporation.
IN WITNESS WHEREOF, I have hereunto affixed my official seal
the day and year first above written.
„"' ':
:>~ U~`'
~pSgRl, ~
~ ,., ~=
~ '°~ a ~~~'
i e~,~ a
/~ ~~ , ,y.
LEASB AGRE~~EM~N? ~~~13
o ary Publ c r Idaho
aiding at Meridian, Idaho
My Commission Expires: y-/-/993
STATE OF IDAHO )
ss.
County of Ada )
On the ~ day of e~ e
undersigned, a Notary Public n and
appeared GRANT RINGSFORD, known to me
OF MERIDIAN, IDAHO, and JACK NIEMANN,
of tha City of Meridian, the persons
to the within and foregoing instrum~
that they executed the same on behalf
~, 1988, before me, the
for said State, personally
to be the Mayor of the CITY
known by me to be the Clerk
whose names are subscribed
ant and acknowledged to me
of said City.
IN WITNESS WHEREOF, I have hereunto affixed my official seal
the day and year first above written.
~•~~ E ~ . G •.•.
?,
~ ,~ ~~I ~'~ ~i y `~~ r
A fi y~
,,,~~~li11 :~i ..~t.l..
ary Public for Idaho
idinq at Meridian, Idaho
Commission Expires : ~{ ~-/9l'3
LEAS$ AGREEMENT - 14
Date. ......._---QY .............»».
Sheet........._------~-•-»..»»...._
~eScYtp~ion '~o~ L~.psc a~
~; y~~, a ~l r ~ l'H '14.~ N W %q N w %q ,Sec .18, ~'; 3 . u. ~ R.) E-
M~Yidl~~ Ada Cov~~-~y , ~d A~-o
1
- /.
~15 ~AVt~t~. 0~ 1Uvrp~n~ .va- yy~,pve P~{t tln..~aY~ dl Stvl ~.d aS ~
~0 ~1,JWS ` d vM rv~ Un ~. ~.v q Ar -~'~.). ~ C l~ ova, GOrv~.P v '1'V~w~ ~M.~~ t ~ ~'lOr~klr/~S~
Ccrww ob Sce~ho~n ~~ , T 3 N.~ ~.1 F. ~ d,~. ~ Ada Coves. ~ ~ ~'1.~,-rcx., easel-~n,l.~
~ a~rna -I'~- hor~.~ b~o~ ~ d a~+~ l ~- ct~ said Se c~, ~., a.~so sa-1d .~~, ~~a
-h..~ tt,K"I.~nr ~ w~ od ~vcvvI~ I,,...- IZ.o a d , appwyc~,w~ ate.t,.~ 1, 050 ~-t ~ a pow•fij
t.4. SAbc~l yltit, a vu~. Vw~0.tL 4~ '~° p0~~ YNM.~.w~ -Ike ~vt'r.~S~c~o~
,S N~ .~ Ir ~ 561-d ~n~n~ b¢In~ 'jl~ ~AL~IhtOF~~~~~
pqt i ~
'~ Q~, ~~ Ui~w ~~ ~` ~- Gv"~ 1'0 4 Cl.~.tr ~ C tl/t.~l,~ f ~1~t~•c.,.. we S.}wt~.
" UUrMau~t, wi~• -~ ~J ~-o~,;N,. ~.;-,~- ~ G. ,100 -fit ~b G p o.~-; ~~-
p ~
S 0 k-I o r>~ vw. 13 O ~~ A ~ d vrt " D vin' ~ s ~ c-f~- w i ~L. ~-
Q~~s~n9 t.6v.ta.t~i. r0~d.~v 0 Ctnn.b ; -11~.~e-e- so~n~kltusa~.~ Ylon,t,~t~n.~
q,(,1~n ~. -Iti.a. ~c i 5I-~ a 9 co v- ~.e~Ce ro a d wa~ cw~-4- p pP''hc.~ ,^^Q:C,.1~ L~} o ~-~t' ~°
j 'I-u. Q~qt, p0~v1'r ~ ~ ~~ l-nH.h9 ~ Co v-.~v Is- n' A ppvv~L~ -r a~- ~3 4CVe. ~
~( snort or le,oa.
~;~
Iu
x
0
~~
N
~o
j l ~ 11 1\ . ~~~•
i
~ W(~
i~
~ ~ r ~~~i
Q OI ~ 1 ~
~ W ~ c0 '`'
Sl ~ V v ~~ ~
h ~ ~
p -~ Z W a=
w ,Q ~ 'v
~= oc. ° v
~ t(1 w ~ ~ ;
~ ~ ~~ _
~ ~~
D ~
• ~ .,~ ~-
~ ~l ~ ~
a ~ o~
\ d
~ ~ C) y
~- ~ ~/ ~~
I O. ~~.
~ •,
S
s
X ~
1
~ H ,R
N
~1
~~ O
U
;~
O
d`.
`9
.~ x c
9
O
~ `~ ~
Ll
^•. ~~ \ -,
~~ ~ ~~
0
~, X
O
l ~\CQ
~ Q
~ l
'`
cn
~ c ~
0 0
~a -
~_ a, ~_
x ~ U
~_ ----
~. ~ ~-1
CUSTOMER
CITY OF MERIDIAN
"HUB OF TREASURE VALLEY"
CITY CLERK'S OFFICE
33 E. IDAHO
MERIDIAN, IDAHO 83842
DATE L~ ~ / 19r'~,~~
RECEIVED
FROM ,~'i ~ `P/ l
CASH M. O.
^
CHECK
^ $ C
ACCOUNT NO. - ~ vl
WATER W
~~
TAX OR SEWER `
~ /i' S
MISC. OR TRASH HAUL T
n.i
TOTAL •,~~ ~~=~
"~ . /1 C -
l%': ~ ~ \ -
9 • ~ A v City Clerk's Office
ASSOCIATED BUSINESS FARMS OF BOISE - 322-6729 _ n,.o.