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R90-21 RATIFYING EXECUTION OF LEASES - DECATUR-MACON COUNTY OPPORTUNITIES CORPORATION
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R90-21 RATIFYING EXECUTION OF LEASES - DECATUR-MACON COUNTY OPPORTUNITIES CORPORATION
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Resolution/Ordinance
Res Ord Num
R90-21
Res Ord Title
RATIFYING EXECUTION OF LEASES - DECATUR-MACON COUNTY OPPORTUNITIES CORPORATION
Approved Date
2/19/1990
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� . <br /> L E A S E <br /> THIS AGREEMENT is made on the 19th day of February , <br /> 1990, 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 /> 921 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 January, 1990, and conclud- <br /> ing on the 31st day of December, 1990, unless extended according to <br /> the terms of an 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 /> dollar ( $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 /> Tenant 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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