R2022-48 Resolution Authorizing Lake Decatur Lease Agreement between the Decatur Park District, G & H Marine, Inc., and the City of Decatur

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LAKE DECATUR LEASE AGREEMENT THIS LEASE AGREEMENT(hereafter the"Agreement")is entered into this day of March,2022 by and between the City of Decatur, an Illinois municipal corporation(hereafter "City"),the Decatur Park District, an Illinois unit of local government(hereafter"DPD"), and G &H Marine, Inc., an Illinois corporation(hereafter"G&H"), who hereby stipulate as follows: WHEREAS, City owns the real property below Lake Decatur to an elevation of 615 feet above sea level; and, WHEREAS,DPD owns certain land adjoining Lake Decatur in Basin 2,more specifically described on the northwest side of the lake between Route 36 and Lost Bridge Road; and, WHEREAS, City and DPD desire to make improvements utilizing certain areas of the properties and areas described above and more particularly identified on Exhibit A attached hereto and incorporated herein(hereafter"Premises"); and, WHEREAS, the parties mutually desire that G&H construct a marina for public use utilizing Premises (hereafter the"Project");and, WHEREAS,the parties previously executed a Memorandum of Understanding dated December 2,2021 to establish key points for the Project; and WHEREAS,in accordance with the Memorandum of Understanding, the parties desire to memorialize the terms of the Project in this legally binding Agreement. NOW, THEREFORE,in consideration of the mutual promises contained herein, the receipt and sufficiency of which is hereby acknowledged,the parties hereby agree as follows: 1. RECITALS. The foregoing recitals are incorporated herein as fully stated as part of this Agreement. 2. LEASED PREMISES. Subject to the covenants and conditions of this Agreement,G&H leases from City and DPD the Premises"), together with the right of ingress and egress. 3. USE OF PREMISES. The Premises shall be used only for the construction and exclusive operation by G&H of a marina for public use(collectively, the "Permitted Use") and no other marina services, including docks may be constructed or undertaken on Premises by any person, organization or entity other than as set forth in this Agreement and shall be subject to the laws,regulations,ordinances and rules of the State of Illinois,the City of Decatur,and the Decatur Park District. 4. TERM, The Initial Term of this Agreement(the"Initial Term") is for twenty (20) years, commencing on the 11 day of April 2022, and ending on the 31"day of March,2042. The Initial Term shall automatically renew for an additional 5-year term(the"Renewal Term") 1 3/11/2022