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R91-42 RATIFYING EXECUTION OF LEASES - DECATUR-MACON COUNTY OPPORTUNITIES CORPORATION
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R91-42 RATIFYING EXECUTION OF LEASES - DECATUR-MACON COUNTY OPPORTUNITIES CORPORATION
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7/26/2016 9:53:01 AM
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Resolution/Ordinance
Res Ord Num
R91-42
Res Ord Title
RATIFYING EXECUTION OF LEASES - DECATUR-MACON COUNTY OPPORTUNITIES CORPORATION
Approved Date
4/15/1991
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r � <br /> � Z <br /> ' � 1 <br /> � � � � <br /> L E A S E <br /> THIS AGREEMENT is made on the 15th day of April , <br /> 1991 , between THE CITY OF DECATUR, ILLINOIS, a municipal corporation, <br /> hereinafter called "Landlord" and DECATUR-MACON COUNTY OPPORTUNITIES <br /> CORPORATION, a general not-for-profit corporation, hereinafter called <br /> "Tenant" . <br /> SECTION 1 . PREMISES LEASED, PRIMARY TERM: Landlord leases to <br /> Tenant a one-story brick construction building whose street address is <br /> 421 North Jasper Street, Decatur, Illinois, and legally described as <br /> follows : <br /> the north 60 feet of Lot 19 and the north <br /> 60 feet of the west 29 feet of Lot 20, <br /> Block 19 of Carver' s Addition of Blocks <br /> 19 , 20, 22 , 23 , 24 , 25 , and 26 , Book T, <br /> page 238 <br /> for a term commencing on the first day of March, 1991 , and concluding <br /> on the 30th day of April, 1992 , unless extended according to the terms <br /> of �n option as provided in Section 15 . <br /> SECTION 2 . RENTAL CONSTRUCTION: It is agreed that Premises con- <br /> tain 1 , 764 square feet and that the fair market value for the rental <br /> of such space, as equipped, is $3 . 50 per square foot per year, so that <br /> the annual rental value of Premises if $6, 174 .00 or $514 . 50 per month. <br /> Upon the condition that Tenant pays to the Landlord the sum of one <br /> 3ollar ( $1 . 00) per year and upon the condition that Tenant pays the <br /> entire costs of electricity, gas, and water required for the Premises <br /> for the term of the lease, which Tenant does hereby agree to do, <br /> Landlord makes and Tenant accepts a charitable contribution, in kind, <br /> of the Premises for the lease term and any agreed extension thereof. <br /> SECTION 3 . USE OF PREMISES: The premises shall be used by <br /> Ten�nt primarily for the operations of its program, the Martin Luther <br /> King Senior Citizens Center, and shall in no event be used for any <br /> purpose other than those stated in the Articles of Incorporation of <br /> Tenant and now recorded in the office of the Recorder of Deeds of <br /> Macon County, Illinois . Tenant shall have full use, in common with <br />
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