Resolution 2020-87 - Laserfiche WebLink

Home Browse Search

FIRST AMENDMENT TO AND ASSIGNMENT OF PARKING LEASE AGREEMENT THIS FIRST AMENDMENT TO AND ASSIGNMENT of Parking Lease Agreement is entered into effective November 2 , 2020 by and between the City of Louisville ("Lessor" or the "City") and LuckyPie Louisville, LLC, a Colorado limited liability company ("Lessee" or "Lucky Pie"). WHEREAS, the City and Lucky Pie Management Company, a Colorado corporation, entered into that Parking Lease Agreement dated October 13, 2015 ("Agreement" or "Lease"); and WHEREAS, as part of a restructuring of its organization, Lessee transferred all assets held by Lucky Pie Management Company to LuckyPie Louisville, LLC, and dissolved Lucky Pie Management Company effective January 12, 2016; and WHEREAS, Section 6 of the Lease requires the City's prior written consent for the Lessee to assign the Lease, which consent is required for LuckyPie Louisville, LLC to substitute as Lessee under the Lease Agreement; and WHEREAS, pursuant to such Agreement, Lucky Pie leases from the City twelve (12) parking stalls located on City -owned property adjacent to 637 Front Street in Louisville, as more specifically described in Exhibit A to the Agreement (the "Premises"); and WHEREAS, due to the presence of COVID-19 in the City, Lucky Pie was required by statewide order to cease operations as a dine -in restaurant for a period of time and after re- opening at reduced capacity has experienced a significant decrease in business and revenue thus far in 2020; and WHEREAS, the terms of the Agreement require Lucky Pie to pay the City annual rent payments by July 1 of each year in an amount that is adjusted annually by the Consumer Price Index from the base amount set forth in the Agreement; and WHEREAS, rent due on July 1, 2020 was $10,219.45 for the period July 1, 2020 through June 30, 2021; and WHEREAS, Lucky Pie has requested the City reduce the amount of rent due the for 2020-2021 period by seventy-five percent (75%), accepting $2,554.86 as payment in full for such period; and WHEREAS, in recognition of the economic hardships faced by Lucky Pie during 2020 due to COVID-19, the City and Lucky Pie desire to amend the Agreement to reduce the amount of rent due for the 2020-2021 period, as set forth herein.