HomeMy WebLinkAboutRes 29-91 06/04/1991 AF/
5/31/9'1
RESOLUTION NO. 29-91
A RESOLUTION AUTHORIZING EXECUTION OF A
LEASE AGREEMENT BETWEEN THE VILLAGE OF MOUNT PROSPECT
AND THE FIRST CHICAGO BANK OF MOUNT PROSPECT
WHEREAS, the Village of Mount Prospect w£11 be undertaking the
construction of a new Fire and Police Station at the existing
location at 112 East Northwest Highway; and
WHEREAS, during the construction period of 18 to 24 months, it will
be necessary to find alternative office space for the operations
of the Fire and Police Departments; and
WHEREAS, the Village of Mount Prospect has the opportunity to lease
space in the First Chicago Bank of Mount Prospect building, located
at Busse Avenue and Emerson Street, at a cost within the amount
budgeted for temporary quarters; and
WHEREAS, it has been determined by the Mayor and Board of Trustees
of the Village of Mount Prospect that the best interest of the
Village, as well as the Fire and Police Department personnel, would
be served by leasing space in the First Chicago Bank of Mount
during the construction period.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES
OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: That the corporate authorities of the Village of
Mount Prospect do hereby authorize the Mayor to sign and Village
Clerk to attest his signature on a Lease Agreement between the
Village of Mount Prospect and the First Chicago Bank of Mount
Prospect, located at 111 East Busse Avenue, a copy of said Lease
is attached hereto and hereby made a part hereof as Exhibit "A".
SECTION TWO: That this Resolution shall be in full force and
effect from and after its passage and approval in the manner
provided by law.
AYES: Busse, Clowes~ Corcoran, Floros, Hoefert, Wilks
NAYS: None
ABSENT: None
PASSED and APPROVED this 4th day of June , 1991.
-. ~ ~-~' Gerald L. - Farley
Mayor
ATTEST:
Carol A. Fields
Village Clerk
15711
LEA'SE
THIS LEASE is made as of this 1st day of July, 1991, between THE
FIRST CHICAGO BANK OF MOUNT PROSPECT, an Illinois banking corporation,
with its office and principal place of business at 111 East Busse
Avenue, Mount Prospect, Illinois 60056 ("Lessor") and Village of Mount
Prospect ("Lessee"):
WITNESSETH:
That Lessor, in consideration of the covenants and agreements
hereinafter set forth to be kept and performed by Lessee, demises and
leases to Lessee, and Lessee does hereby take, accept and rent from
Lessor, the premises hereinafter described for the period, at the
rental and upon the terms and conditions hereinafter set forth:
1.1 The leased premises (the "Premises") shall consist of
approximately 5,200 square feet of rentable floor space located on the
fourth floor at 111 East Busse Avenue, Mount Prospect, Illinois, as
more particularly delineated on Exhibit B to this Lease.
2 TERM OF THE LEASE
2.1 The term of this lease shall commence on July 1, 1991 and
terminate on August 14, 1993, unless sooner terminated as hereinafter
provided.
3 BASE RENTAL
3.1 Lessee shall pay to Lessor as base rent for the term of this
lease the sum of $31,200 per annum, payable in advance, in monthly
instalments of $2,600 on or before the first day of each month. In
the event that the commencement date or ending date shall be on a day
other than the first or last day of the month, then, the month's rent
shall be prorated for the period of time the Premises are occupied by
Lessee. For all purposes of this lease, rent and other sums due from
Lessee to Lessor shall be deemed to have been paid at the time Lessor
receives same. Notwithstanding the foregoing, Lessee's obligation to.
pay the base rent shall be abated for the period commencing on July 1,
1991 and ending August 14, 1991.
4 ADDITIONAL RENTAL
Not used.
5< USE 0F PREMISES
5.1 Lessee shall use and occupy the Premises for general office
purposes and for no other use or purpose. Lessee shall not use or
occupy the Premises or permit the use or occupancy of the Premises for
any purpose or in any manner which (i)~ is unlawful or in violation of
any applicable legal or governmental requirement, ordinance or rule;
(ii) may be dangerous to persons or property; (iii) may invalidate or
increase the amount of premiums for any policy of insurance affecting
the building and if any additional amounts of insurance premiums are
so incurred, Lessee shall pay to Lessor the additional amounts on
demand so long as Lessee has been provided with supporting evidence
that the increase is due to Lessee's occupancy; or (iv) may create a
nuisance, disturb any other tenant of the building or injure the
reputation of the building. In no event shall Lessee (v) bring
arrestees onto the Premises, or (vi) engage in or permit, within or
upon the Premises, the building or the subject property, any handling,
storage, generation, discharge or disposal of any toxic or hazardous
substances, materials or wastes other than in strict compliance with
any federal, state, county or municipal laws, regulations, ordinances,
orders or directives.
6 CONDITION AND CARE OF PREMISES
6.1 Lessee acknowledges that they have inspected the Premises and
is familiar with same and that Lessee's taking possession of the
Premises or any portion thereof shall be conclusive evidence against
Lessee that the portion of the Premises taken possession of was then
in good order and satisfactory condition. No promises of Lessor to
alter, remodel, improve, repair, decorate or clean the Premises or any
part thereof has been made, and no representation respecting the
condition of the Premises, the building or the land, has been made to
Lessee by or on behalf of Lessor. This lease does not grant any
rights to light or air over or about the property of Lessor.
7 REPAIR AND MAINTENANCE OF THE PREMISES
7.1 Lessor will, at its sole cost and expense, make all
structural repairs and replacements necessary or desirable to keep the
building in which the Premises are located in good order and repair.
Structural repairs shall include exterior walls, foundations, floors
and the elevators of the building, and the plumbing, electrical, heat
and air conditioning systems, connected therewith, along with
sidewalks, curbs and parking areas adjacent to the building.
7.2 Lessor will, at its sole cost and expense, perform routine
maintenance and repair to keep the Premises in good and sanitary
order, including the supplying of appropriate light bulbs. Lessor
shall have access to the Premises at all reasonable times in order to
make the repair and provide the maintenance as set forth herein.
There shall be no obligation upon Lessor to make any repair to any
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portion of the Premises unless and until Lessor is notified of the
condition requiring said repair. Lessor shall have a reasonable time
to make said repairs subject to strikes, lock-outs, acts of God or
causes beyond Lessee's control. ~
7.3 Notwithstanding anything to the contrary, Lessee shall be
responsible, and promptly reimburse Lessor, for the repair of all
damage to the building and the Premises, including structural repairs,
arising out of or connected with any act or omission of Lessee, its
employees and agents, its licensees or invitees, excluding reasonable
wear and tear.
8 UTILITIES
8.1 Public utility service, meters and connections into the
Premises shall be provided by Lessor. Lessor shall pay the cost of
all utilities consumed by Lessee on the Premises, including, but not
limited to, gas, electricity, water and power. Lessee shall pay the
cost of its telephone service. Lessee agrees to cooperate with Lessor
to minimize the use of utilities in their space. Notwithstanding the
foregoing, Lessor may, at its option, separately meter the utility
useage of Lessee, and Lessee shall be responsible for the cost of such
separately metered service.
9 LESSOR'S SERVICES
9.1 So long as Lessee is not in default under any of the
covenants of this lease, Lessor shall furnish the following services
to the Premises:
A. Heat and air conditioning as each season may require to
provide a temporary condition, in Lessor's reasonable
judgment, for comfortable occupancy of the Premises under
normal business operation: heat and air conditioning will be
furnished Monday through Friday 8:00 a.m. to 6:00 p.m. and
Saturday 8:00 a.m. to 1:00 p.m., Sunday and holidays
excepted. Wherever the generating machines or equipment are
used Dy Lessee in the Premises which affect the temperature
otherwise maintained by the air conditioning system, Lessor
reserves the right to install supplementary air conditioning
units in the Premises and the expense of the installation
shall be that of Lessee. The expense resulting from the
operation and maintenance of the supplementary air
conditioning system shall be paid by Lessee as additional
base rental at rates fixed by Lessor;
B. Hot and cold water for lavatory and toilet purposes.
Lessee shall not waste or permit the waste of water;
Page 3
Daily Janitorial services in and about the Premise
~ ........ ~ "~ ........... ~:~'~1~ C h~t~, .... Saturdays, Sundays and /
holidays excepted· Any janitorial services required by
Lessee in excess of the f~regoing shall be paid by Lessee as
additional rent; ~'~
D. Refuse collection, Saturdays, Sundays and holidays
excepted;
E. Window washing, inside and outside, as may be necessary
in Lessor's reasonable judgment;
F. Passenger and freight elevator service in accordance
with the Rules and Regulations attached hereto;
G. Ingress and egress to the Premises on a twenty-four (24)
hour basis, seven (7) days per week; provided, however, that
all ingress and egress to the Premises shall be subject to
the Rules and Regulations of Lessor as attached hereto
(Exhibit A), which Rules and Regulations shall govern.
10 ASSIGNMENT AND SUBLETTING
10.1 Lessee shall not assign, transfer, mortgage, pledge,
hypothecate or encumber or subject to or permit to exist upon or be
subjected to any llen or charge, this lease or any interest under it;
(ii) allow to exist or occur any transfer of or lien upon this lease
or Lessee's interest herein by operation of law; (iii) sublet the
Premises or any part thereof; or (iv) permit the use or occupancy of
the Premises or any part thereof for any purpose not provided for in
this lease by anyone other than the Lessee and Lessee's employees. In
no event shall this lease be assigned or assignable by voluntary or
involuntary bankruptcy proceedings or otherwise, and in no event shall
this lease or any rights or privileges hereunder be an asset of Lessee
under any bankruptcy, insolvency or reorganization proceedings.
A ERA N
11.1 Without Lessor's prior written consent (which consent will
not be unreasonably withheld), Lessee shall not make or cause to be
made any exterior, structural, electrical, ventilation, air
conditioning or other type of alterations, improvements, additions,
changes or repairs in or to the Premises or the building. As a
condition to granting its consent, Lessor may impose reasonable
requirements, including, without limitation, requirements as to the
manner and time for the performance of any such work and the type and
amount of insurance and bonds Lessee must acquire and maintain in
connnection therewith. In addition, at Lessor's option, Lessor shall
have the right (a) to approve the contractors or mechanics performing
the work and the contract for the work to be performed; (b) to approve
Page 4
all plans and specifications relating to the work; (c) to review the
work of Lessee's architects, engineers, contractors or mechanics and
to control any construction or other activities being undertaken
within the building, with Lessor to be reimbursed for any costs
incurred in connection with such review and/or control; and (d) to
order reasonable changes in the work in instances in which materials
or workmanship is defective or not in accordance with plans or
specifications previously approved by Lessor. Except as expressly
provided herein, all alterations, improvements, additions, changes or
repairs shall be provided by and paid for by Lessee at its sole
expense, but shall become the property of Lessor and shall be
surrendered with the Premises upon termination of this lease.
Provided, however, that Lessor may, by written notice to Lessee as
provided herein, require Lessee, at Lessee's sole cost and expense, to
remove any or all improvements, alterations, additions or fixtures
installed or made by Lessee on or to the Premises and to repair any
damages to the Premises caused by such removal.
11.2 Ail work in connection with any alterations, improvements,
changes, additions or repairs in the Premises or the building made by
or for the benefit of Lessee shall be performed in full compliance
with all laws, ordinances, regulations, rules and requirements of all
governmental entities having jurisdiction and in full compliance with
all insurance rules, orders, directions, regulations and
requirements. If there is now or if there shall be installed in the
building a sprinkler system, and if any fire rating bureau or any
similar body having jurisdiction or any governmental authority having
jurisdiction requires or recommends that any changes, modifications,
alterations, additional sprinkler heads or other equipment be made or
supplied by reason of Lessee's business or the improvements it has
added or the location of partitions, trade fixtures or other contents
of the Premises, or if any such changes, modifications, alterations,
additions or other equipment become necessary to prevent imposition of
a penalty or charge against the full allowance for a sprinkler system
in the fire insurance'rate as fixed by said bureau or by any fire
insurance company, Lessee shall, at its own cost, promptly make and
supply all such changes, modifications, alterations, additional
sprinkler heads Or other equipment in the Premises.
11.3 Before work is commenced as provided in this lease, Lessee
shall give Lessor at least fifteen (15) days' written notice. Lessee
shall secure, at Lessee,s own cost, a completion and lien indemnity
bond, satisfactory to Lessor, for said work, and during the progress
of the work, Lessee shall, upon Lessor's request, furnish Lessor with
sworn contractor's statements and lien waivers covering all work
theretofore performed. Any'mechanic's liens for work claimed to have
been performed for, or materials claimed to have been furnished to,
Lessee, shall be discharged by Lessee, by bond or otherwise, within
ten (10) days after the filing of such lien, at Lessee's sole
expense. Lessee agrees to indemnify, hold harmless and defend Lessor
from any loss, cost, damage or expense, including attorneys' fees,
Page 5
arising out of any such lien claim or out of any other claim relating
to work done or materials supplied to the Premises at Lessee's request
or on Lessee's behalf, it being understood that any work done at
Lessor's request which gives rise to a mechanics lien shall be
Lessor's responsibility.
12 WAIVER OF CERTAIN CLAIMS: INDEMNITY BY LESSEE
12.1 Except for damages arising from Lessor's negligence or
willful misconduct and to the extent not expressly prohibited by law,
Lessee releases Lessor and its agents, servants and employees, from
and waives all claims for damages to person or property sustained by
Lessee or by any occupant of the Premises or the building, or by any
other person, resulting directly or indirectly from fire or other
casualty, cause or any existing or future condition, defect, matter or
thing in or about the Premises, the building or any part of it, or
from any equipment or appurtenance therein, or from any accident in or
about the building, or from any act or neglect of any Lessee or other
occupant of the building or any part thereof or of any other person,
including Lessor's agents and servants. This section shall apply
especially, but not exclusively, to damage caused by water, snow,
frost, steam, excessive heat or cold, sewerage, gas, odors or noise,
or the bursting or leaking of pipes or plumbing fixtures, broken
glass, sprinkling or air conditioning devices or equipment, or
flooding of basements and shall apply without distinction as to the
person whose act or neglect was responsible for the damage and whether
the damage was due to any of the acts specifically enumerated above,
or from any other thing or circumstance, whether of a like nature or
of a wholly different nature. If any damage to the Premises or the
building or any equipment or appurtenance therein, whether belonging
to Lessor or to other lessees or occupants of the building, results
from any act or neglect of Lessee, its employees, agents or invitees,
Lessee shall be liable therefor and Lessor may at its option repair
such damage and Lessee shall upon demand by Lessor reimburse Lessor
for all costs of such repairs and damages in excess of amounts, if
any, paid to Lessor under insurance covering such damages. All
personal property belonging to Lessee or any occupant of the Premises
that is in the building or the Premises shall be there at the risk of
Lessee and Lessor shall not be liable for damage thereto or theft or
misappropriation thereof.
12.2. To the extent not expressly prohibited by law, Lessee
agrees to hold Lessor and its agents, servants and employees, harmless
and to indemnify each of them against claims and liabilites, including
reasonable attorneys' fees, for injuries to all persons and damage to
or theft or misappropriation or loss of property occurring in or about
the Premises arising from Lessee's occupancy of the Premises or the
conduct of its business or from any activity, work, or thing done,
permitted or suffered by Lessee in or about the Premises or from any
breach or default on the part of Lessee in the performance of any
covenant or agreement on the part of Lessee to be performed pursuant
Page 6
to the terms of this lease or due to any other act or omission of
Lessee, its agents or employees.
13 DAMAGE OR DESTRUCTION TO PREMISES
13.1 If the Premises are destroyed or are partially destroyed so
as to become unfit for its intended use or occupancy, or if said
Premises are so badly injured or damaged that they cannot be repaired
within fifteen (15) working days (Monday-Friday) after the damage
occurs, then, this lease may thereupon be terminated by Lessor or
Lessee by written notice of termination given to the other party
within ten (10) days after such damage occurs, effective as of the
date of said damage or destruction and rent shall be prorated to the
date of cancellation. If, said lease is not so terminated, then,
Lessor shall perform such repairs as quickly as reasonably possible
after settlement of the insurance claim by Lessor and if the damage
has not been caused by Lessee's act or negligence or its agents or
employees the rent payable by Lessee shall abate in the ratio which
the damaged or untenantable portion of the Premises bears to the whole
from the date of damage to the date of completion of repairs,
providing the undamaged area is usable. If said damage is not
substantially repaired within a thirty (30) day period, after
settlement of the insurance claim by Lessor, then, either Lessor or
Lessee may terminate this lease upon five (5) days' written notice
after the 30-day period, provided, however, that the termination is
effective prior to completion of said repair. Lessor shall not be
liable for any damages to Lessee for failure to complete said repairs
within the 30-day period Lessee's sole remedy being to terminate this
Lease. Further, Lessor shall have no duty pursuant to this section to
repair or restore any portion of the alterations, additions or
improvements made by Lessee in the Premises or to expend for any
repair or restoration amounts in excess of insurance proceeds paid to
Lessor and available for repair or restoration.
14 SUBORDINATION
14.1 Lessor may hereafter from time to time execute and deliver a
mortgage or trust deed in the nature of a mortgage, both referred to
herein as "Mortgage,# against the land and building or any interest
therein, and may sell and lease back the land. If requested by the
mortgagee or trustee under any Mortgage, or the lessor of any ground
or underlying lease, Lessee will either (a) subordinate its interest
in this lease to the Mortgage, and to any and all advances made
thereunder and to the interest thereon, or to such ground or
underlying lease, or to both, and to all renewals, replacements,
supplements, amendments, modifications and extensions thereof; or (b)
make Lessee's interest in this lease superior thereto. Lessee will
promptly execute and deliver such agreement or agreements as may be
reasonably required by such mortgagee or trustee under any Mortgage or
by such ground Lessor. Lessee covenants it will not subordinate this
lease to any Mortgage without the prior written consent of the holder
Page 7
of any prior Mortgages and any ground lessor. Lessor states that as
of the date hereof there are no mortgages encumbering the Premises.
14.2 It is further agreed that (a) if any Mortgage shall be
foreclosed, or if any ground or und6~lying lease be terminated (i) the
liability of the mortgagee or trustee hereunder or purchaser at such
foreclosure sale or the liability of a subsequent owner designated as
lessor under this lease shall exist only so long as such trustee,
mortgagee, purchaser or owner is the owner of the building or land and
such liability shall not continue or survive after further transfer of
ownership; and (ii) upon request of the mortgagee or trustee, if the
Mortgage shall be foreclosed, Lessee will attorn, as Lessee under this
lease, to the purchaser at any foreclosure sale under any Mortgage or
upon request of the ground lessor, if any ground or underlying lease
shall be terminated, Lessee will attorn as Lessee under this lease to
the ground lessor, and Lessee will execute such instrument as may be
necessary or appropriate to evidence such attornment; and (b) this
lease may not be modified or amended so as to reduce the rent or
shorten the term provided hereunder, or so as to adversely affect in
any other respect to any material extent the rights of Lessor, nOr
shall this lease be cancelled or surrendered, without the prior
written consent, in each instance, of the mortgagee or trustee under
any Mortgage and of any ground lessor.
14.3 Should any prospective mortgagee or ground lessor require a
modification or modifications of this lease, which modification or
modifications will not cause an increased cost or expense to Lessee or
in any other way materially and adversely change the rights and
obligations of Lessee hereunder in the reasonable judgment of Lessor,
then, and in such event, Lessee agrees that this lease may be so
modified and agrees to promptly execute whatever documents are
required therefor and deliver the same to Lessor within ten (10) days
following the request therefor. Should any prospective mortgagee or
ground lessor require execution of a short form of lease for recording
(containing the names of the parties, a description of the Premises,
and the term of this lease) or a certification from Lessee concerning
the lease in such form as may be required by a prospective mortgagee
or ground lessor, Lessee agrees to promptly execute such short form of
lease or certificate and deliver the same to Lessor within fifteen
(15) days following the request therefor.
If Lessee fails, within fifteen (15) days after written demand
therefor, to execute and deliver any instruments as may be necessary
or proper to effectuate any of the covenants of Lessee set forth above
in this section, Lessee hereby makes, constitutes and irrevocably
grants Lessor a power of attorney coupled with an interest in the
Premises to execute and deliver any such instruments for and in the
name of Lessee.
Page 8
:~. 15 INSURANCE
15.1 At all times during the term of this lease, Lessee shall, at
their sole cost and expense, maintain in full force and effect
insurance protecting Lessee and Less~r and their respective agents and
any other parties designated by Lessor'from time to time, with terms,
coverages and in companies at all times satisfactory to Lessor as
follows:
A. comprehensive general liability insurance, including
contractual liability insuring the indemnification provisions
contained in this lease, with limits of not less than five
hundred thousand dollars ($500,000.00) combined single limit
per occurrence for personal injury, death and property damage;
B. insurance against all risks, including sprinkler
leakage, for the full replacement cost of all additions,
improvements and alterations to the Premises and of all
office equipment, furniture, trade fixtures, merchandise and
all other items of Lessee's property on the Premises. Lessee
hereby waives all claims of recovery from Lessor for loss or
damage to any of Lessee's property to the extent of any
recovery collectible under valid and collectible property
insurance policies.
15.2 Lessee shall, prior to the commencement of the term hereof
and prior to the expiration of any policy, furnish Lessor certificates
evidencing that all required insurance is in force and providing that
such insurance may not be cancelled or changed without at least thirty
(30) days' prior written notice to Lessor and Lessee (unless such
cancellation is due to non-payment of premiums, in which event ten
(10) days' prior notice shall be provided).
15.3 Lessee shall comply with all applicable laws and ordinances,
all orders and decrees of court and all requirements of other
governmental authority, and shall not directly or indirectly make any
use of the Premises which may thereby be prohibited or be dangerous to
person or property or which may jeopardize any insurance coverage, or
may increase the cost of insurance or require additional insurance
coverage.
16 NONWAIVER
16.1 NO waiver of any condition expressed in this lease shall be
implied by any neglect of Lessor or Lessee to enforce any remedy on
account of the violation of such condition whether or not such
violation be continued or repeated subsequently, and no express waiver
shall affect any condition other than the one specified in such waiver
and that one only for the time and in the manner specifically stated.
Without limiting the provisions of this section, it is agreed that no
receipt of monies by Lessor from Lessee after the termination in any
Page 9
way of the term or of Lessee's right of possession hereunder or after
the giving of any notice shall reinstate, continue or extend the term
or affect any notice given to Lessee prior to the receipt of such
monies. It is also agreed that the service of any five (5) day notice
or any other notice or the commencement of a suit or after final
judgment for possession of the Premises, Lessor may receive and
collect any monies due, or pursue any other available remedy and the
payment of said monies shall not waive or affect said notice, suit or
judgment.
17 DEFAULT: LESSOR'S RIGHTS AND REMEDIRS
17.1 If default shall be made in the payment of the Rent or any
installment thereof within five (5) days after the due date, or if
default shall be made in the payment of any sum required to be paid by
Lessee under the terms of any other agreement between Lessor and
Lessee and such default shall continue for five (5) days after written
notice to Lessee, or if default shall be made in the observance or
performance of any of the other covenants or conditions in this lease
which Lessee is required to observe and perform and such default shall
continue for twenty (20) days after written notice to Lessee, or if a
default involves a hszardous condition and is not cured by Lessee
immediately upon written notice to Lessee, or if the interest of
Lessee in this lease shall be levied or under execution or other legal
process, or if any voluntary petition in bankruptcy or for corporate
reorganization or any similar relief shall be filed by Lessee, or if
any involuntary petition in bankruptcy shall be filed against Lessee
under any federal or state bankruptcy or insolvency act and shall not
have been dismissed within thirty (30) days from the filing thereof,
or if a receiver shall be appointed for Lessee or any of the property
of Lessee by any court and such receiver shall not have been dismissed
within thirty (30) days from the date of his appointment, or if Lessee
shall make an assignment for the benefit of creditors, or if Lessee
shall admit in writing Lessee's inability to meet Lessee's debts as
they mature, or if Lessee shall abandon or vacate the Premises during
the term for a period in excess of twenty (20) days, then Lessor may
treat the occurrence of any one or more of the foregoing events as a
breach of this lease, and thereupon at its option may, with or without
notice or demand of any kind to Lessee or any other person, have any
one or more of the following described remedies in addition to all
other rights and remedies provided at law or in equity or elsewhere
herein:
A. Lessor may terminate this lease and the term created
hereby, in which event Lessor may forthwith repossess the
Premises and be entitled to recover forthwith as damages a
sum of money equal to the value of the rent provided to be
paid by Lessor for the balance of the original term, less the
aggregate fair rental value of the Premises for said period,
and plus any other sum of money and damages owed by Lessee to
Lessor. Should the rental value exceed the value of the rent
Page 10
provided to be paid by Lessor for the balance of the original
term of the lease, Lessor shall have no obligation to pay to
Lessee the excess or any part thereof.
B. Lessor may terminate Lessee's right of possession
and may repossess the Premises by forcible entry and detainer
suit, by taking peaceful possession or otherwise, without
terminating this lease, in which event Lessor may, but shall
be under no obligation to, relet the same for the account of
Lessee, for such rent and upon such terms as shall be
satisfactory to Lessor. For the purpose of such reletting,
Lessor is authorized to decorate or to make any repairs to
put the Premises in its original condition. If Lessor shall
fail to relet the Premises, Lessee shall pay to Lessor as
damages a sum equal to the amount of the rent reserved in
this lease for the balance of its original term. If the
Premises are relet and a sufficient sum shall not be realized
from such reletting after paying all of the costs and
expenses of such decorations, repairs, changes, alterations
and additions and the other expenses of such reletting and of
the collection of the rent accruing therefrom to equal or
exceed the rent provided for in this lease for the balance of
its original term, Lessee shall satisfy and pay such
deficiency upon demand therefor from time to time. Lessee
agrees that Lessor may file suit to recover any sums falling
due under the terms of this section from time to time and
that no suit or recovery of any portion due Lessor hereunder
shall be any defense to any subsequent action brought for any
amount theretofore reduced to judgment in favor of Lessor.
17.2 If Lessor exercises either of the remedies provided, Lessee
shall surrender possession and vacate the Premises immediately and
deliver possession thereof to Lessor, and Lessor may then or at any
time thereafter re-enter and take complete and peaceful possession of
the Premises, with or without process of law, full and complete
license so to do being hereby granted to Lessor, and Lessor may remove
all occupants and property therefrom, using such force as may be
necessary, without being deemed in any manner guilty of trespass,
eviction or forcible entry and detainer and without relinquishing
Lessor's right to rent or any other right given to Lessor hereunder or
by operation of law.
17.3 All property removed from the Premises by Lessor pursuant to
any provisions of this lease or of law may be handled, removed or
stored by Lessor at the cost and expense of Lessee, and Lessor shall
in no event be responsible for the value, preservation or safekeeping
thereof. Lessee shall pay Lessor for all expenses incurred by Lessor
in such removal and storage charges against such property so long as
the same shall be in Lessor's possession or under Lessor's control.
All property'not removed from the Premises or retaken from storage by
Lessee within thirty (30) days after the end of the term, however
Page 11
terminated, shall be conclusively deemed to have been conveyed by
~essee to Lessor as by bill of sale without further payment or credit
by Lessor to Lessee.
17.4 Lessee' shall pay all of Lessor's costs, charges and
expenses, including court costs and attorneys' fees, incurred in
enforcing Lessee's obligations under this lease or incurred by Lessor
in any litigation in which Lessee causes Lessor, without Lessor's
fault, to become involved or concerned.
17.5 In the event that Lessee shall be adjudged bankrupt, or a
trustee in bankruptcy shall be appointed for Lessee, Lessor and Lessee
agree, to the extent permitted bY law, that the trustee in bankruptcy
shall determine, within sixty (60) days thereafter, whether to assume
or reject this lease.
18 SIGNS
18.1 Lessee shall not have the right to install any sign or signs
on the walls of the Premises without Lessor's prior consent, which
consent shall not be unreasonably withheld. Lessee shall at the
termination of the lease, remove all signs installed by it and repair
any damage caused by such installation or removal. Lessor agrees to
place Lessee's name on the building directory maintained by Lessor in
the main lobby of the building in which the Premises are situated.
19 SECURITY DEPOSIT
19.1 AS additional security for the full and prompt performance
by Lessee of all Lessee's obligations hereunder, Lessee has upon
execution of this lease paid to Lessor the sum of Two Thousand Six
Hundred and no/100 Dollars ($2,600) which sum may be used, retained or
applied, in whole or in part, by Lessor for the purpose of curing any
default or defaults by Lessee under this lease. Lessor shall not,
unless required by la~, keep the security deposit separate from its
general funds or pay interest thereon to Lessee. If Lessee has not
defaulted hereunder or if Lessor has not used, retained or applied
this security deposit to any defaults, then this security deposit or
any portion thereof not so applied by Lessor shall be paid in cash to
Lessee upon satisfaction by Lessee of all of its obligations under
this lease. If the whole or any part of said security deposit is
used, retained or applied for the curing of any defaults, Lessee shall
within ten (10) days after written demand therefor deposit with Lessor
an amount of cash equal to the amount so used, retained or applied so
that Lessee shall at all times have on deposit with Lessor an amount
equal to such original deposit as security as aforesaid. The use,
application or retention of the security deposit, or any part thereof,
by Lessor shall not prevent Lessor from exercising any other right or
remedy provided by this lease or by law and shall not operate as a
limitation on any recovery to which Lessor may be entitled.
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20 HOLDING OVER
20.1 Lessee shall pay Lessor for each day Lessee retains
possession of the Premises or any part thereof after termination of
this lease, by lapse of time or otherwise, an amount which is double
the amount of rent for a day (computed on a year of 360 days) based on
the annual rate of base rent and additional rental applicable herein
to the period'in which such possession occurs, and Lessee shall also
pay all damages, consequential as well as direct, sustained by Lessor
by reason of such retention or if Lessee holds over for thirty (30)
days or more then Lessor upon a fourteen (14) day written notice to
Lessee to vacate within such 14-day period and Lessee not so vacating
then the 14-day notice shall constitute Lessor's election that such
holding over shall constitute a renewal of this. lease for one (1) year
at double the base rate which had been in effect for the term of this
lease plus additional rental as specified herein for such additional
year, but acceptance by Lessor of rent after such termination shall
not of itself constitute a renewal. Nothing in this section
contained, however, shall be construed or operate as a waiver of
Lessor's right of re-entry or any other right of Lessor.
21 RETURN OF PREMISES
21.1 At the termination of this lease by lapse of time or
otherwise or upon termination of Lessee's right of possesBion without
terminating this lease, Lessee shall surrender possession of the
Premises to Lessor and deliver all keys to the Premises to Lessor and
make known to Lessor the combination of all locks of vaults then
remaining in the Premises, and shall return the Premises and all
equipment and fixtures of Lessor therein to Lessor in as good
condition as when Lessee originally took possession, ordinary wear,
loss or damage by fire, damage resulting from the act of Lessor or its
employees and agents excepted, failing which Lessor may restore the
Premises and such equipment and fixtures to such condition and Lessee
shall pay the cost thereof to Lessor on demand.
21.2 All installations, additions, partitions, hardware, light
fixtures, non-trade fixtures and improvements, temporary or permanent,
except movable furniture and equpment, belonging to Lessee in or upon
the Premises, whether placed there by Lessee or Lessor, shall be
Lessor's property and shall remain upon the Premises, all without
compensation, allowance or credit to Lessee, provided, however, that
if prior to such termination or within ten (10) days thereafter Lessor
so directs by notice, Lessee at Lessee's Sole cost and expense, shall
promptly remove such of the installations, additions, partitions,
hardware, light fixtures, non-trade fixtures and improvements placed
in the Premises by Lessee as are designated in such notice and repair
any damage to the Premises caused by such removal, failing which
Lessor may remove the same and repair the Premises and Lessee shall
pay the cost thereof to Lessor on demand.
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21.3 Lessee shall remove Lessee's furniture, machinery, safes,
trade fixtures and other items of movable personal property of every
kind and description from the Premises prior to the end of the term or
ten (10) days following termination of this lease or Lessee's right of
possession shall lapse, whichever might be earlier, failing which
Lessor may do so and Lessee shall be liable to Lessor for any expense
incurred by Lessor therefor or Lessor may have any remedies available
under this lease.
21.4 Ail obligations of Lessee hereunder shall survive the
expiration of the term or sooner termination of this lease.
22 ADDITIONAL RIGHTS
22.1 Lessor or Lessee may from time to time at its option
exercise all rights or remedies which it may have at law or in equity
and nothing contained herein shall be construed as in any way
abridging or waiving any such rights or remedies.
23 NOTICES
23.1 When any notice is required or permitted by this lease, it
may be given either in person or be deemed given when in writing and
mailed by certified mail, return receipt requested, to the proper
party at the address shown below or at such other address as may be
designated by written notice hereunder:
Lessor: The First Chicago Bank of Mount Prospect
111 East Busse Avenue
Mount Prospect, Illinois 60056
Attn: President
Lessee:
Village of Mount Prospect
111 East Busse Avenue
Mount Prospect, Illinois 60056
24 OUIET ENJOYMENT
24.1 Lessor covenants and agrees that Lessee, so long as Lessee
is not in default hereunder, shall peacefully and quietly hold, occupy
and enjoy the Premises during the term of this lease.
25 RULES AND REGULATIONS
25.1 Attached to this lease as Exhibit A are Rules and
Regulations governing leases in this building, which Rules and
Regulations are incorporated into this lease as additional terms
herein. Lessor may enact other rules or regulations or alter same
provided said rules or regulations do not limit Lessee's access to the
Premises other than currently specified in said rules or regulations
Page 14
or required by local law or insurance requirements and do not
materially interfere with Lessee's use of the Premises.
26 SUCCESSORS A~D ASSIGNS
26.1 Each and all of the terms and agreements herein contained
shall be binding upon and inure to the benefit of the parties hereto,
their heirs, personal and legal representatives, successors and
assigns.
27 CONSTRUCTION
27.1 Wherever the singular is used herein, the same may include
the plural if the context so requires, and any gender used herein may
likewise include any other gender.
28 HEADINGS
28.1 The section headings contained herein are for convenience
and reference only and in no way shall be construed to
modify, amplify or otherwise affect the interpretation or construction
of this lease.
29 REAL ESTATE BROKERS
29.1 Lessee represents that Lessee has not dealt directly or
indirectly with any broker in connection with this lease other than CB
Commercial and except where the broker has been hired by Lessor,
Lessee agrees to indemnify and hold Lessor harmless from all damages,
liability and expense (including reasonable attorneys' fees) arising
from any claims or demands of any other broker or brokers or finders
for any commission alleged to be due such other broker or brokers or
finders in connection with its participating in the negotiation with
Lessor of this lease or the locating of Lessee for the space being
leased herein.
30 DELIVERY OF POSSESSION
30.1 Not used.
~1 TITLE AND COVENANT AGAINST LIENS
31.1 Lessor's title is and always shall be paramount to the title
of Lessee and nothing in this lease contained shall empower Lessee to
do any act which can, shall or may encumber the title of Lessor.
Lessee covenants and agrees not to suffer or permit any lien of
mechanics or materialman to be placed upon or against the real
property, the land, the building, or the Premises or against Lessor's
leasehold interest in the Premises and, in case of any such lien
attaching, to immediately pay and remove same. Lessee has no
authority or power to cause or permit any llen or encumbrance of any
Page 15
kind whatsoever, whether created by act of Lessee, operation of law or
otherwise, to attach to or be placed upon the real property, land,
building or Premises. If any such liens so attach and Lessee fails to
Pay and remove same within ten (10) days, Lessor, at its election, may
pay and satisfy the same and in such event the sums so paid by Lessor,
with interest from the date of payment at the rate set forth herein
for amounts owed Lessor by Lessee. Such sums shall be deemed to be
additional rent due and payable by Lessee at once without notice or
demand.
TERMINATI
32.1 After January 15, 199S, Lessee may terminate this Lease upon
sixty (60) days prior written notice to Lessor.
33.1 Lessee may use, at no charge, one (1) parking space in the
parking lot adjacent to the building and so long as Lessor owns the
parking lot, one (1) parking space in the parking lot designated for
Lessor's employees.
34 MISCELLANEOUS
34.1 This lease constitutes the entire agreement between Lessor
and Lessee relating to the Premises described herein, and supersedes
any other agreement, whether written or oral, that may have been
entered into by the parties. This lease may hereafter be modified
only by an agreement in writing signed by the parties or their
respective successors in interest.
34.2 All of the agreements of Lessor and Lessee with respect to
the Premises are contained in this lease; and no modification, waiver
or amendment of this lease or of any of its conditions or provisions
shall be binding upon Lessor unless in writing signed by Lessor.
34.3 Time is of the essence of this lease and of each and all
provisions thereof.
34.4 All amounts (including, without limitation, base rent and
additional rental) owed by Lessee to Lessor pursuant to any provision
of this lease shall bear interest from the date due until paid, at the
annual rate of two percent (2%) in excess of corporate base rate then
in effect at The First National Bank of Chicago, unless a smaller rate
shall then be the maximum rate permissible by law with respect
thereto, in which event said smaller rate shall be charged. Where a
controversy exists between Lessee and Lessor then no interest shall
accrue unless Lessee shall be at fault.
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34.5 .Submission of this lease for examination does not constitute
a reservation of or option for the Premises. The instrument does not
become effective as a lease or otherwise until execution and delivery
by both Lessor and Lessee.
34.6 The invalidity of any provision of this lease shall not
impair or affect in any manner the validity, enforceability or affect
the rest of this lease.
34.7 Where acts of Lessor shall be required by this lease, then,'
the time period or periods for said Lessor to act shall be extended by
any additional time period due to strikes, lockouts, acts of God or
causes beyond Lessor's reasonable control. This clause shall not
apply to the 180-day period and right to cancel under Section 13.
34.8 Lessee specifically agrees to look solely to Lessor's
interest in the building for the recovery of any judgment from Lessor
relating to this lease, it being agreed that Lessor shall never be
personally liable for any such judgment.
LESSOR: LESSEE:
THE FIRST CHICAGO BANK VILLAGE OF MOUNT PROSPECT
OF MOUNT PROSPECT
~~ Title: %/~ ~ ~ ~---'
Page 17
EXHIBIT A
RULES AND REGULATIONS GOVERNING LEASES IN THE FIRST CHICAGO BANK
OF MOUNT PROSPECT OFFICE BUILDING, MOUNT PROSPECT, ILLINOIS.
1. Lessee may use the freight elevator only between the
hours of 8:00 a.m. and 5:00 p.m. Monday through Friday and between
the hours of 9:00 a.m. and 1:00 p.m. Saturday. There shall be no
use of the freight elevator after 5:00 p.m. Monday through Friday
or after 1:00 p.m. Saturday and before 8:00 a.m. Monday or on
holidays without the prior written consent of Lessor.
2. All passenger elevators will be locked between the
hours of 6:00 p.m. and 8:00 a.m. Monday through Friday and between
the hours of 1:00 p.m. Saturday and 8:00 a.m. Monday and on
designated bank holidays. Access to the Premises may be made
between the hours of 6:00 p.m. and 9:30 p.m. Monday through Friday
and between the hours of 1:00 p.m. and 5:00 p.m. Saturday without
a key by contacting Lessor's security guard on duty during those
hours.
3. There shall be no guard service provided by Lessor
between the hours of 9:30 p.m. and 8:00 a.m. Monday through Friday
and between the hours of 5:00 p.m. Saturday and 8:00 a.m. Monday.
Access to the Premises during the aforesaid time may be made only
through the passenger elevator and with the use of a key to be
provided to Lessee by Lessor. Lessor shall not provide guard
service on any designated Bank holidays and access to the Premises
shall be in the same manner as aforesaid.
4. There shall be no use of the stairwells between
floors of the building (except for emergency use) between the
hours of 6:00 p.m. and 8:00 a.m. Monday through Friday and between
the hours of 1:00 p.m. Saturday and 8:00 a.m. Monday and on
designated bank holidays. All entry doors from the stairwells to
the various floors of the building will be locked during the
aforesaid hours. The only egress from the stairwells will be on
the first floor. Any unauthorized use of the stairwells during
the aforesaid hours will activate the Lessor's alarm system. Any
cost to Lessor by Lessee activating the alarm system shall be
borne by Lessee.
5. There shall be no entry or exit (except emergency or
pre-arranged delivery) through the building's freight dock.
6. In the event of afire or fire drill, the elevators
(both passenger and freight) may not be used. All exits should be
made through the stairwells.
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7. Lessee shall not make or permit any noise or odor
that is objectionable to the public, to other occupants of the
building or to Lessor, to emanate from the Premises and shall not
create or maintain a nuisance thereon and shall not disturb,
solicit or canvass any occupants and shall not do any act tending
to injure the reputation of the building.
8. Lessor may retain a passkey to the Premises. Lessee
shall not alter any lock or install a new lock on any door of the
Premises without written consent of Lessor or Lessor's agents,
provided, in case of such consent, Lessee shall provide Lessor
with an additional key for the use of Lessor's right to access to
the Premises.
9. Lessee shall not use the name of the building for
any purpose other than Lessee's business address and shall never
use any picture or likeness of the building in any advertisement,
notice or correspondence without Lessor's previous written consent
thereto.
10. Lessee will comply with all requirements for state,
municipal and other governmental inspections, licenses and permits
and will pay promptly all proper fees and charges in connection
therewith.
11. At all times during the term of this lease, Lessor
shall have the right to enter into and upon the Premises during
reasonable business hours for the purpose of examining and
inspecting the same and determining whether Lessee shall have
complied with its obligations under the Lease and rules and
regulations contained herein, and in respect of the care and
maintenance of the Premises.
Initial: ~ ~-~- ~%
- Lessor
Initial: ~ 7-~-~{
Lessee
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