R92-198 AUTHORIZING CITY MANAGER TO EXECUTE LEASES

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. _� . � � . r LEASE AGREEMENT THIS AGREEMENT, made this ist day of April, 1993 , between the City of Decatur, Illinois , a municipal corporation, (Landlord) and Kyong A. Cho, (Tenant) . Witnesseth, that the said Landlord does hereby lease to the said Tenant, the following described property, situated in the City of Decatur, County of Macon, State of Illinois, to be used only for retail purposes; first floor and lower level of the South 24 feet of the South 48 feet of the East 116 feet of Lot One (1) of the Town of Decatur, also known as 203 North Water Street, (consisting of an area of approximately 6, 050 square feet) for the term of thirty-six (36) months beginning on the lst day of June, 1993 and ending on the last day of May, 1996. The Tenant shall have the right of immediate occupancy of said premises. The Tenant shall have the right, at the expiration of this term and for a period of six (6) months thereafter, to accept the terms and conditions of any lease agreement negotiated for this property by the City with any other party; if the Tenant refuses to accept such terms and conditions, the City may lease said property to such other party. The Tenant agrees to pay as rent for the said premises, the sum of Fifty Thousand Four Hundrec� Dollars ($50, 400) payable in advance on the lst day of each month, in payments of One Thousand Four Hundred Dollars ($1,400) per month, payable at City offices, #1 Gary K. Anderson Plaza, Decatur, Illinois. The Tenant covenants with the Landlord, that at the expiration of the term of this lease Tenant will yield up the premises to the Landlord without further notice in as good condition as when the same were entered upon by the Tenant, loss by ordinary wear excepted. Landlord shall furnish heat at its expense. The said Tenant shall permit the Landlord to have free access to the premises hereby leased for the purpose of examining or exhibiting the same, or to make any needful repairs or alterations of such premises, which said Landlord may see fit to make, also to allow to have placed upon said premises at all times, notice of "For Sale" or "To Rent" , and will not interfere with the same. It is further agreed by the said Tenant that neither Tenant nor Tenant's legal representatives will sublet said premises, or any part thereof, or assign this lease, or make any alterations, amendments or additions to the buildings on said premises, without the written consent of the Landlord had thereto, and that neither Tenant nor Tenant's legal representatives will use said premises for any purpose calculated to injure or deface the same, or to injure the reputation or credit of the premises or of the neiqhborhood. __ .