Resolution 2020-87 - Laserfiche WebLink

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NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the City and Lucky Pie agree to amend the Agreement as follows: Section 1. Section 1 of the Parking Lease Agreement is hereby amended to read as follows (words to be deleted s4ieke; words to be added underlined): 1. Term and Rent. Lessor leases the Premises for a term commencing on October 14, 2015 and terminating on June 30, 2025 (unless sooner terminated as provided herein), at an initial annual rental rate of nine thousand dollars ($9,000). The first annual rent payment, in the pro -rated amount of $6,423.29 for the period of October 14, 2015 to June 30, 2016, shall be paid to Lessor on October 19, 2015. Subsequent annual rent payments shall be paid to Lessor each July 1 during the term of this Lease. All rental payments shall be made to Lessor, at the address specified above. Commending 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 rate increase, if any, in the Consumer Price Index for Denver -Boulder -Greeley for All Urban Consumers ("CPI-U"). For the lease year beginning July 1, 2020 only, the annual rent payment shall be $2,554.86, and shall be paid to Lessor on or before November 13, 2020. The annual rent payment due July 1, 2021 and thereafter shall be adjusted by the CPI-U as set forth in this Section from a 2020 base amount of $10,219.45. All rent shall be paid in full on the date due without abatement, deduction or setoff by Lessee of any kind. Rent not paid when due shall be assessed a penalty of five percent of the unpaid amount plus interest on the unpaid amount from the date overdue until the date paid at 1-1 /2% per month. Section 2. The City hereby consents to assignment of the Agreement to LuckyPie Louisville, LLC, and LuckyPie Louisville hereby accepts such assignment and agrees to be bound by to perform all terms and conditions of the Agreement. Section 3. Except as amended by this First Amendment, the Agreement shall remain in full force and effect in accordance with its terms. IN WITNESS WHEREOF, the parties have executed this First Amendment to be effective on the Effective Date. CITY OF LOUIS RM ATTEST: Meredyth Muth, City Clerk lzmann, Mayor