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Garry & Carolyn Meadows lease agreement for property located at 108 & 110 South Gee Street for the JETS offices
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Garry & Carolyn Meadows entered into a lease agreement for property located at 108 & 110 South Gee Street for the JETS offices and was signed on March 26, 2007. The rental fee is $5,925 monthly and the lease is from May 1, 2007 to December 31, 2010. The resolution number is 2007:41 and was approved by the City Council on March 20, 2007.
The contract was amended in 2010 for three items and they are listed below. The amended contract was signed on June 4, 2010. It was authorized by RES-10:069, which was approved by the City Council on June 1, 2010.
1. Described premises changed to Lots 1 and 2 of Meadows first replat of Meadows addition; a replat of part of block 2 Wilson 2nd and Tract A - part of the NE ¼ of the SW ¼ of Section 13, Township 14 North, Range 3 East
2: General addendum dated March 26, 2007, changed as follows: Delete Entire Paragraph 3: "Lessor grants to Lessee an option to extend this Lease for a period of three (3) additional years and during the extension, Lessee's option to purchase contained in paragraph 1 above remains in effect. The base rent during said extension shall be $6,425 a month. Lessee agrees to notify Lessor in writing of its intention to extend this Lease prior to June 1, 2010. In exchange for the option to extend this Lease or purchase the Premises and in the event that Lessee neither extends this Lease nor purchased the Premises, Lessee agrees to pay Lessor an amount equal to 6 months base rent upon expiration of this Lease. The option to purchase must be reviewed by the Federal Transportation Administration, Region VI. Lessor understands that this option is a minimum eighteen (18) month process during which time Lessee must be a tenant under this Lease"
3: Base rent rate from July 1, 2010, through December 31, 2010, is changed to $2,800 per month.
Attachments included are:
Resolution 2007:41
Lease agreement
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RES-10:069
Addendum