HomeMy WebLinkAboutUniversity of Northern Iowa (UNICUE) lease of 800 Sycamore St. - 6/21/2021 LEASE — BUSINESS PROPERTY
(Board as Tenant)
This Lease— Business Property (the "Lease") is made and entered into this 151 day of
April, 2021, by and between City of Waterloo (the "Landlord"), whose address for the purpose
of this Lease is 715 Mulberry Street Waterloo Iowa 50703, and the Board of Regents,
State of Iowa for the Use and Benefit of the UNI (the "Tenant"), whose address for the
purpose of this Lease is 122 Lang Hall. Cedar Falls Iowa 50614.
1. PREMISES AND TERM.
(a) The Landlord hereby leases unto the Tenant, and Tenant hereby rents and
Leases from Landlord, according to the terms and provisions herein, the following
described real estate, situated in Black Hawk County, Iowa, to wit: 800 Sycamore Street,
Waterloo Iowa 50703 (formerly Chicago Great Western Depot), with the improvements
thereon and all rights, easements and appurtenances thereto belonging, which, more
particularly, includes the space and premises as may be shown on Exhibit "A" attached
hereto, for a term of ten (10) years beginning at midnight on August 21, 2021 and ending
at 11:59 p.m. on the last day of the Lease term, which shall be on August 20, 2031, upon
the condition that the Tenant pays rent therefor, and otherwise performs as provided in this
Lease.
(b) Renewal. See paragraph 25 below.
2. RENTAL. Tenant agrees to pay to Landlord as rental for said term the sum of
$6,035.08 per month, in advance, the first rent payment becoming due September 1, 2021,
and the same amount, per month, in advance, on the first day of each month thereafter,
during the term of this Lease. All sums shall be paid at the address of Landlord, as above
designated, or at such other place as the Landlord may, from time to time, previously
designate in writing.
3. POSSESSION. Tenant shall be entitled to possession on the first day of the term of
this Lease and shall yield possession to the Landlord at the time and date of the close of
this Lease term, except as herein otherwise expressly provided.
4. USE OF PREMISES. Tenant covenants and agrees during the term of this Lease to use
and to occupy the leased premises, only for legal purposes.
5. QUIET ENJOYMENT. Landlord covenants that its estate in said premises is fee simple
and that the Tenant, on paying the rent herein reserved and performing all the agreements by
the Tenant to be performed as provided in this Lease, shall and may peaceably have, hold and
enjoy the demised premises for the term of this Lease free from molestation, eviction or
disturbance by the Landlord or any other persons or legal entity whatsoever. Landlord shall
have the right to mortgage all of its right, title, interest in said premises at any time without
notice, subject to this Lease.
6. CARE AND MAINTENANCE OF PREMISES. (a) Tenant takes said premises in their
present condition except for such repairs and alterations as may be expressly provided herein.
1
(b) Landlord's Duty of Care and Maintenance. Landlord will provide for maintenance
of the roof and its replacement when needed. Landlord will maintain the exterior, sidewalk,
parking lot (including striping and lighting). Landlord will replace HVAC units, electrical panels,
security system and fire alarm if any of such systems are beyond repair. Landlord will keep the
roof, structural part of the floor, wails and other structural parts of the building in good repair.
(c) Tenant's Duty of Care and Maintenance. Tenant shall, after taking possession of
said premises and until the termination of this Lease and the actual removal from the premises,
at its own expense, care for and maintain said premises in a reasonably safe and serviceable
condition, except for structural parts of the building and except as provided in paragraph 6(b) or
section 7. Tenant will furnish its own interior and exterior decorating. Tenant will not permit or
allow said premises to be damaged or depreciated in value by any act or negligence of the
Tenant, its agents or employees.
Tenant will be responsible for all items noted in this paragraph 6(c) and section 7.
Tenant will maintain HVAC systems, performing regular and routine maintenance including the
replacement of components as needed as long as the cost of repair does not exceed the
replacement cost. Tenant will maintain all of the interior systems and equipment, will repair
dings and dents, will paint walls and doors, will maintain the carpet and patch all openings
created by removal and/or addition of furnishings or changes to the office layout. Tenant agrees
to give Landlord as much notice as possible when equipment or a system is nearing the end of
its useful life so that Landlord can make arrangements for replacement.
Tenant agrees to keep faucets closed so as to prevent waste of water and flooding of
premises and to promptly take care of any leakage or stoppage in any of the water, gas or
waste pipes. The Tenant agrees to maintain adequate heat to prevent freezing of pipes, if and
only if the other terms of this Lease fix responsibility for heating upon the Tenant. Tenant shall
make no structural alterations or improvements without the written approval of the Landlord,
which approval shall not be unreasonably withheld.
Tenant is responsible for securing all windows and doors within and on its leased space
and shall exert diligence in keeping building entrances and openings locked after normal
business hours.
(d) Tenant will make no unlawful use of said premises and agrees to comply with all
applicable city ordinances, the laws of the State of Iowa and the Federal government, but this
provision shall not be construed as creating any duty by Tenant to members of the general
public.
7. OPERATING EXPENSES.
(a) UTILITIES AND SERVICES. Tenant shall pay all charges for use of telephone and
other utilities and services which may be used in or upon the demised premises during the term
of this Lease, except as provided below.
(b) AIR CONDITIONING equipment shall be furnished at the expense of Landlord and
maintenance thereof at the expense of Tenant.
(c) JANITOR SERVICE shall be furnished at the expense of Tenant.
2
(d) HEATING equipment shall be furnished at the expense of Landlord and maintenance
thereof at the expense of Tenant. Heating costs shall be the expense of Tenant.
(e) WATER AND SEWER shall be furnished at the expense of Tenant.
(f) ELECTRICITY service shall be furnished at the expense of Tenant.
(g) TRASH DISPOSAL shall be furnished at the expense of Tenant.
(h) SNOW REMOVAL shall be furnished at the expense of Tenant.
(i) LAWN CARE shall be furnished at the expense of Tenant.
0) OTHER: Any other maintenance, utility and service expenses not related to
paragraph 6(b) above shall be furnished by Tenant.
8. (a) SURRENDER OF PREMISES AT THE END OF TERM — REMOVAL OF
FIXTURES. Tenant agrees that upon the termination of this Lease, it will surrender, yield up
and deliver the leased premises in good and clean condition, except the effects of ordinary
wear and tear and depreciation arising from lapse of time, or damage without fault or
liability of Tenant.
(b) Tenant may, at the expiration of the term of this Lease, or renewal or renewals
thereof or at a reasonable time thereafter, if Tenant is not in default hereunder, remove any
fixtures or equipment which said Tenant has installed in the leased premises, providing said
Tenant repairs any and all damages caused by removal.
(c) Holding Over. Continued possession by the Tenant beyond the expiratory date
of the Lease term, coupled with the receipt of the specified rental by the Landlord (and
absent a written agreement by both parties for an extension of this Lease, or for a new
lease) shall constitute a month-to-month extension of this Lease.
9. ASSIGNMENT AND SUBLETTING. Any assignment of this Lease or subletting of
the premises or any part thereof is prohibited without the Landlord's written permission.
Such written permission shall not be unreasonably withheld.
10. LANDLORD'S RIGHT OF ACCESS. Upon reasonable notice, Landlord or its
authorized representative may enter the leased premises at any reasonable time for the
purpose of inspecting the leased premises or for the servicing of any utilities.
11.TAXES.
(a) All Real Estate Taxes levied or assessed by lawful authority (but reasonably
preserving Landlord's rights of appeal) against said real property shall be timely paid by the
Landlord. Any increase in such taxes shall be paid by the Landlord.
(b) Personal Property Taxes. Tenant is, in general, exempt from personal property
taxes. Tenant shall pay all such taxes for which it is not exempt.
3
(c) Special Assessments. Special assessments shall be timely paid by the Landlord.
12. INSURANCE.
(a) Landlord and Tenant will each keep its respective property interests in the
premises and its liability in regard thereto, and the personal property on the premises,
reasonably insured against hazards and casualties; that is, fire and those items usually
covered by extended coverage. Both parties recognize that Tenant, as an agency of the
State of Iowa, is self-insured.
(b) Tenant will not do or omit the doing of any act which would vitiate any insurance,
or increase the insurance rates in force upon the real estate improvements on the
premises.
(c) In the event of damage to buildings, or improvements by any natural or
manmade disaster, the Tenant shall notify the Landlord by telephone or in writing within 24
hours of Tenant's first knowledge thereof.
(d) Release of Recovery Rights. Each party hereby releases the other from claims
for recovery for any loss or damage to any property owned by either party which is insured
under valid and collective insurance policies to the extent of any recovery collectible under
such insurance. It is further agreed that waiver shall apply only when permitted by the
applicable policy of insurance.
13. LIABILITY. Tenant, consistent with Article VII, Section 1 of the Iowa Constitution and
Iowa Code Chapter 669, shall defend and indemnify Landlord (a) against any damages to
property or injuries to or death of any person or persons, including employees or agents of
Landlord, and (b) from any claims, demands, suits, actions, or proceedings of any kind, of
or by anyone, in any way resulting from or arising out of this Lease Agreement and/or by
anyone, in any way resulting from or arising out of this Lease Agreement and/or Tenant's
occupancy of the demised premises.
14. DESTRUCTION OF LEASED PREMISES.
(a) Partial Destruction. In the event of a partial destruction or damage of the leased
premises which is a business interference, that is, which prevents the conducting of a
normal business operation and which damage is reasonably repairable within sixty (60)
days after its occurrence, this Lease shall not terminate but the rent for the leased premises
shall abate during the time of such business interference. In the event of partial destruction,
Landlord shall repair such damages within sixty (60) days of its occurrence unless
prevented from doing so by acts of God, the elements, the public enemy, strikes, riots,
insurrection, public health emergencies, government regulations, city ordinances, labor,
material or transportation shortages, or other causes beyond Landlord's reasonable
control.
(b) Zoning. If the zoning ordinance of the city or municipality in which this property
is located make it impossible for the Landlord, using diligent and timely effort, to obtain
necessary permits and to repair and/or rebuild so that Tenant is not able to conduct its
4
business on these premises, then such partial destruction shall be treated as a total
destruction as provided in the next paragraph.
(c) Total Destruction of Business Use. In the event of a destruction or damage of
the leased premises, including the parking area (if a parking area is a part of the subject
matter of this Lease), so that Tenant is not able to conduct its business on the premises
and the damage cannot be repaired within sixty (60) days, this Lease may be terminated at
the option of either the Landlord or Tenant. Such termination in such event shall be effected
by written notice of one party to the other, within twenty (20) days after such destruction.
Tenant shall surrender possession within ten (10) days after such notice issues, and each
party shall be released from all future obligations hereunder, Tenant paying rent pro rata
only to the date of such destruction. In the event of such termination of this Lease, Landlord
at its option may rebuild or not, according to its own wishes and needs.
15.CONDEMNATION — DISPOSITION OF AWARDS. If the whole or any part of the
demised premises is condemned or taken by a competent authority for any public or quasi-
public use or purpose, each party shall be entitled to retain, as its own property, any award
payable to it. If a single entire award is made on account of the condemnation, each party
will then be entitled to take such proportion of said award as may be fair and reasonable.
16.TERMINATION OF LEASE. This Lease shall terminate upon expiration of the
demised term; or if this Lease expressly and in writing provides for any option or options,
and if any such option is exercised by the Tenant, then this Lease will terminate at the
expiration of the option term or terms.
17.SIGNS.
(a) Tenant shall have the right and privilege of attaching, affixing, painting or
exhibiting signs on the leased premises, provided only
(1) that any and all signs shall comply with the ordinances of the city or
municipality in which the property is located and the laws of the State of
Iowa;
(2) such signs shall not change the structure of the building;
(3) such signs if and when taken down shall not damage the building;
(4) such signs shall be subject to the written approval of the Landlord, which
approval shall not be unreasonably withheld.
(b) During the last one hundred eighty (180) days of the Lease term, Landlord shall
have the right to maintain in the windows or on the building or premises either or both a
"For Rent" or"For Sale" sign, and Tenant will permit, at such time, prospective tenants or
buyers to enter and examine the premises.
18. RIGHTS CUMULATIVE. The various rights, powers, options, elections and remedies
of either party provided in this Lease shall be construed as cumulative, and no one of them
5
as exclusive of the others or exclusive of any rights, remedies or priorities allowed either
party by law, and shall in no way affect or impair the right of either party to pursue any other
equitable or legal remedy to which either party may be entitled as long as any default
remains in any way unremedied, unsatisfied or undischarged.
19. NOTICE AND DEMANDS. Notices as provided for in this Lease shall be given to the
respective parties hereto at the respective addresses designated on page one of this Lease
unless either party notifies the other, in writing, of a different address. Without prejudice to
any other method of notifying a party in writing or making a demand or other
communication, such message shall be considered given under the terms of this Lease
when sent, addressed as above designated, postage prepaid, by registered certified U.S.
mail, return receipt requested, and deposited in a United States mail box.
20. PROVISIONS TO BIND AND BENEFIT SUCCESSORS, ASSIGNS, ETC. Each and
every covenant and agreement herein contained shall extend to and be binding upon the
respective successors and assigns of the parties hereto.
21.CHANGES TO BE IN WRITING. None of the covenants, provisions, terms or
conditions of this Lease to be kept or performed by Landlord or Tenant shall be in any
manner modified, waived or abandoned, except by a written instrument duly signed by the
parties and delivered to the Landlord and Tenant. This Lease contains the entire
agreement of the parties.
22.CONSTRUCTION. Words and phrases herein, including acknowledgment hereof, shall
be construed as in the singular or plural number, and as masculine, feminine or neuter gender
according to the context.
23.NONAPPROPRIATIONS CLAUSE. Any obligations incurred by the Board of Regents,
State of Iowa pursuant to this Lease shall be paid from any funds the Board of Regents, State of
Iowa legally has available therefor, and the Board of Regents, State of Iowa covenants to
annually budget sufficient amounts to pay its rental obligations hereunder; notwithstanding any
other provisions of this Lease, if funds anticipated for the continued fulfillment of this Lease are
at any time not forthcoming or insufficient, either through the failure of the Iowa legislature or the
Federal government to provide funds or alteration of the program under which funds were
provided, then the Board of Regents, State of Iowa shall have the right to terminate this Lease
without penalty by giving not less than sixty (60) days' advance written notice documenting the
lack of funding.
24.ACCESSIBILITY. Landlord shall maintain the premises in compliance with all applicable
State and Federal laws and regulations concerning accessibility by the disabled. If the Tenant is
fined for violations of said laws and regulations for areas within the responsibility of the Landlord
under the terms of this Lease, Landlord agrees to indemnify and hold harmless the Tenant.
25.RENEWAL OPTION(S). This Lease may be renewed by Tenant for two (2) additional
terms of five (5) years each by Tenant's delivery to Landlord of a written notice of intent to
renew. The notice shall be submitted at least three (3) months prior to the end of the Lease term
then in effect.
6
IN WITNESS THEREOF, the parties hereto have duly executed this Lease— Business
Property by their duly authorized representatives as of the date first written above.
TENANT
BOARD OF REGENTS, STATE OF IOWA
S'�S LI By: — k ��'
Date Michael ager
Senior VP for Finance and Operations
University of Northern Iowa
LANDLORD
CITY OF WATERLOO, IOWA
le
By: _
Date Quentin Hart, Mayor
Attest:
Kelley Fel le, City Clerk
STATE OF IOWA )
ss:
BLACK HAWK COUNTY )
S4-On the M day of2021, before me, the undersigned, a
Notary Public in and for the State of Iowa, personally appeared Quentin Hart and Kelley
Felchle, to me personally known. and who, being by me duly sworn, did say that they are
the Mayor and City Clerk, respectively, of the City of Waterloo, Iowa; that the seal affixed to
the foregoing instrument is the corporate seal of the corporation, and that the instrument
was signed and sealed on behalf of the corporation by authority of its City Council as contained
in the Resolution adoptegkthe City C\ ouncil, under Qf46tuhon No. of the
City Council on the '� day of of lr�Y�Q� 2021, and that Quentin Hart and Kelley
7
Felchle acknowledged the execution of the instrument to be their voluntary act and deed
and the voluntary act and deed of the corporation, by it voluntarily executed.
�.w NANCY HIGBY No*taryu4bIiate* —
° COMMISSION N0.788229
' MY OMb71sS�0 IRES
i°W♦ 3
STATE OF IOWA )
ss:
BLACK HAWK COUNTY )
On this'—day of M04 2021, before me, a Notary Public in and
for the State of Iowa, personally appeared Michael Hager, to me personally known, who
being duly sworn, did say that he is the duly appointed and actively serving Senior VP of
Finance and Operations for the University of Northern Iowa, that he was authorized to
execute the foregoinp instrument by vote of the Board of Regents, State of Iowa at its
meeting on the�_day of A01
I. , 2021, and he acknowledged the
execution of the said instrument was his voluntary act and deed and the voluntary act and
deed of the Board of Regents, State of Iowa.
��"'"`& SARAH JEM'
COMMISSION I s. '789516
* * MY COMMISS=OPS EXPIRES N *Publric, ta a of Iowa
rowP APRIL 15,2024
8
EXHIBIT "A"
Those parts of Lots Nos. Two (2), Three (3), Six (6), Seven (7) and Ten (10) in
Block No. One (1) in the Original Plat, on the East Side of the Cedar River, in the
City of Waterloo, Black Hawk County, Iowa, lying Northwesterly of the following
described line:
Beginning at a point on the Northeasterly line of said Block that is Fifteen (15)
feet Northwesterly, as measured at right angles, from the center line of the main
track of the Chicago and North Western Transportation Company (formerly the
Chicago Great Western Railway Company), as said main track is now located;
thence Southwesterly parallel with said main track center line to a point distant
Nine and Five Tenths (9.5) feet Northwesterly, measured radially, from the center
line of the most Northwesterly side track of the Chicago and North Western
Transportation Company, as said side track is now located; thence
Southwesterly parallel with said side track center line to a point on the
Southwesterly line of said Block.
1