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R2008-117 AUTHORIZING EXECUTION OF LEASE
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R2008-117 AUTHORIZING EXECUTION OF LEASE
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10/22/2015 9:09:37 AM
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Resolution/Ordinance
Res Ord Num
R2008-117
Res Ord Title
AUTHORIZING EXECUTION OF LEASE REYNOLDS DEVELOPMENT, LLC
Approved Date
8/4/2008
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� Book : 3923 �age : 9�5 <br /> • available at a cost not to exceed $12.00 per space per month, that which <br /> Regions Bank, N.A.'s employees currently pay for parking in Municipality's <br /> other parking lots. <br /> 2. Municipality hereby further grants to Developer the exclusive I <br /> right to use up to thirty (30) additional parking spaces in the Leased �� <br /> Premises as occupancy in the building constructed on the Premises exceeds <br /> 140 full time tenant employees, for use by Developer, its anchor tenant <br /> Regions Bank, N.A., Consociate, Inc. Dansig, Inc., and other tenants of the <br /> building constructed on the Premises, and their respective customers, <br /> patrons, invitees, visitors and employees, on the following payment terms: <br /> (i) for the duration of the Lease Term, additional parking spaces will be <br /> available at $10.00 per space per month; and (ii) during the Renewal Terms, <br /> additional parking spaces will be available at a cost not to exceed $12.00 per <br /> space per month, that which Regions Bank, N.A.'s employees currently pay <br /> for parking in Municipality's other parking lots. As occupancy in the <br /> building constructed on the Premises exceeds 140 full time tenant <br /> employees, an additional space in the Leased Premises will be added to this <br /> Lease for each additional full time tenant employee above 140 full time <br /> tenant employees of the building constructed on the Premises. <br /> 3. Developer shall, upon written request from Municipality, <br /> furnish Municipality with satisfactory evidence of those full time tenant <br /> employees of the building constructed on the Premises. <br /> 4. Municipality shall keep in force general liability insurance on <br /> the Leased Premises with a general liability aggregate limit of at least two <br /> (2) million dollars, which Municipality shall pay when due, during the Lease <br /> Term. <br /> 5. Municipality shall maintain and repair the Leased Premises as <br /> necessary, and shall provide necessary services to the Leased Premises, <br /> including, but not limited to, snow removal, asphalt repair, and parking lot <br /> striping, and otherwise maintain the Leased Premises. <br /> 6. This Lease shall be governed by and construed in accordance <br /> with the laws of the State of Illinois. Municipality and Developer <br /> acknowledge and agree that each has mutually contributed or agreed to all <br /> provisions of this Lease, and that no provision of this Lease shall be <br /> construed against nor interpreted to the advantage or disadvantage of a party <br /> 3 <br />
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