Resolution 2015-32 - Laserfiche WebLink

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PARKING LOT LEASE AGREEMENT THIS LEASE AGREEMENT is entered into this day of :314-041 2015, by and between the CITY OF LOUISVILLE, COLORADO, a Colorado municipal corporation whose address is 749 Main Street, Louisville, CO 80027 (herein called "Lessee") and KOKOPLAZA PARTNERS, LLC, whose building is located at 901 and 917 Front Street, Louisville, CO 80027 (herein called "Lessor") and this instrument is hereinafter called the "Lease ". Lessee hereby agrees to lease from Lessor the parking spaces on the premises, located at 901 and 917 Front Street, Louisville, CO, 80027, consisting of approximately fifty parking spaces and more specifically described as set forth in Exhibit A (the "Premises "), upon the following TERMS and CONDITIONS. 1. Term and Rent. Lessor leases the above Premises for one -year term commencing on July 1, 2015 and terminating on June 30, 2016, at an annual rental rate of eight thousand ($8,000.00). The initial Lease term shall automatically renew for successive terms of one year each, unless either party gives written notice to the other of its intention not to renew on or before thirty days prior to the termination of the then applicable Lease term. If such notice is given, this Lease shall then automatically terminate at the end of the then current Lease Term. The first annual rent payment shall be on July 1, 2015, and subsequent annual rent payments shall be made each July 1 during the terms of this Lease. Commencing with the annual rent payment due July 1, 2016 and for each annual rent payment thereafter, the amount of annual rent shall be adjusted by an amount equal to the then - current annual percentage increase, if any, in the Consumer Price Index for Denver - Boulder- Greeley for All Urban Consumers ( "CPI -U "). All rental payments shall be made to Lessor, at the address specified above. 2. Use. Lessee shall use and occupy the Premises solely for the purpose of public parking every day of this Lease from 5pm until 12 midnight. In the event any of Lessee's use shall extend or occur outside of the these permitted times, Lessor shall be permitted to tow any vehicle so parked (by private service) to that service's impoundment lot , all at the cost and expense of the vehicle owner. 3. Signage. Lessor will sign the Premises appropriately to note Lessee's use, the cost of which shall be a Lessee expense and which shall be deemed additional rent hereunder. Alternatively, Lessee at its expenses may obtain the signage which shall be subject to Lessor's review and approval prior to installation 4. Care and Maintenance of Premises. Lessor acknowledges that care and maintenance of the Premises are at Lessor's own expense and which maintenance will be conducted in a manner generally comparable to that maintenance provided by other commercial landlord's in Louisville to their respective parking lots. Lessee acknowledges that snow removal does not occur at commercial buildings after normal business hours. In no event shall Lessor be deemed to be providing security to either person or property of those members of the public or Lessee which may from time to time be in use of the Premises, with the Lessee acknowledging that such use shall be at the risk of the Lessee and its invitees (e.g. the public). 5. Assignment and Subletting. Lessee shall not assign this lease or sublet any portion of the Premises without prior written consent of the Lessor, which may be withheld in Lessor's sole discretion. Any such assignment or subletting without consent shall be void and, at the option of the Lessor, may terminate this lease.