HomeMy WebLinkAboutArmory Board State of Iowa - Amendment to Lease Agmnt - 12/30/19AMENDMENT #1
to
LEASE AGREEMENT
for
CITY -OWNED PROPERTY
This Amendment made and entered into this SD day of 0 , 20 i , , by and
between the City of Waterloo, Iowa (hereinafter referred to as "Lessor"), and the Armory Board,
State of Iowa (hereinafter referred to as "Lessee").
Whereas, the Lessee entered into a Lease Agreement with Lessor which is dated the 26th day of
August, 2019, hereinafter referred to as the "Lease Agreement";
Now, therefore, for and in consideration of the covenants and agreements contained in the
Lease Agreement, it is hereby agreed by and between the parties to amend the Lease
Agreement as follows:
1. Effective on and after August 26, 2019, Sections 2 and 3 are deleted in their entirety and
replaced as follows:
2. INITIAL TERM. The term of this Agreement shall be for a period of twenty (20)
years commencing on the first day of March, 2020 and ending on the last day
of February, 2040. Lessee shall have the option to renew this Agreement as
provided in Section 3, or otherwise by mutual written agreement of the parties.
3. OPTION TO RENEW. So long as Lessee is not in default under the terms and
provisions of this Agreement, Lessee shall have the right and option, at its sole
discretion, to renew this Agreement for four successive twenty-year terms
("Option Terms") with the same terms and upon the same covenants, conditions
and provisions provided in this Agreement. Lessee shall exercise such option,
if at all, by giving written notice to Lessor not less than thirty (30) days prior to
the expiration of the existing term.
2. Except as specifically amended herein, the terms and conditions of the Lease Agreement
remain unchanged and in full force and effect. Terms and phrases not defined in the
Amendment shall have the meaning ascribed to them in the Lease Agreement.
Please return this copy to:
City Clerk & Finance Dept.
715 Mulberry St.
Waterloo, IA 50703
CITY OF WATERLOO:
APPROVED BY: CIA2•1Z
Ma
State of Iowa
Clerk
): ss:
County of Black Hawk )
ARMORY BOARD, STATE OF IOWA:
By: . LP
State Qt ter}naster
This instrument was acknowledged before me on *Dec-> .' sae-r- % ! , 2019, by
Quentin Hart as Mayor of the City of Waterloo and by Kelley Felchle as City Clerk of the City of
Waterloo.
NANCY HIGBY
�Aei
COMMISSION No.788229
MY C M SIO� E IRES
State of Iowa
): ss:
County of Polk
/14'1L-t- i+'kf--L•e
Notary Puolic
•---
This instrument was acknowledged before me on-eb,-tkrkr-k.,A„ ICE , 20,1-9, by
Gary A. Freese as State Quartermaster of the Armory Board, State of4owa.
z6,,oy-,1c_faz
Notary Public
�iA<s DAWN K BAUMUNK
0 — Commission Number 807925
My Commission Expires
7owr December 14, 2020
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