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HomeMy WebLinkAboutRes 33-09 06/02/2009 RESOLUTION NO. 33-09 A RESOLUTION AUTHORIZING THE EXECUTION OF A PARKING LOT LEASE AGREEMENT BETWEEN THE VILLAGE OF MOUNT PROSPECT AND HOMEBROOK PROSPECT, LLC REGARDING THE PROPERTY LOCATED AT 15 AND 19 WEST BUSSE AVENUE, MOUNT PROSPECT, ILLINOIS WHEREAS, the Village of Mount Prospect is desirous of entering into a Parking Lot Lease Agreement ("the Agreement) with Homebrook Prospect, LLC for property located at 15 and 19 West Busse Avenue; and WHEREAS, such Agreement will allow for the construction and operation of a public parking lot ("Parking Facilities") by the Village. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS, ACTING IN THE EXERCISE OF ITS HOME RULE POWERS: SECTION ONE: That the Board of Trustees of the Village of Mount Prospect does hereby authorize and direct the President to execute and the Village Clerk to attest the signature on the Agreement between the Village of Mount Prospect and Homebrook Prospect, LLC. Said Agreement shall be for a period of one (1) year with subsequent automatic renewals for an additional one (1) year terms subject to certain non-renewal and termination provisions, as set forth in the Agreement, a copy of which is attached and made a part of this Resolution as Exhibit "A." SECTION TWO: The Village of Mount Prospect ("Tenant") agrees to pay Homebrook Prospect, LLC ("Landlord") the sum of ten and no/100ths dollars ($10.00) for theannual terms of the Lease (the "Rent".) 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: Hoefert, Juracek, Korn, Matuszak, Polit, Zadel NAYS: None ABSENT: None PASSED and APPROVED this 2nd day of June, 2009 fity~ 5: M~ Irvana K. Wilks Mayor ATTEST: ~~~OQO Village Clerk H:\CLKO\WIN\RESOLUTION\Parking Lease agrmtbusseavejune2009.doc PARKING LOT LEASE 15 AND 19 W. BUSSE AVENUE, MOUNT PROSPECT, ILLINOIS THIS PARKING LOT LEASE (the "Agreement" or "Lease") is entered into as of this 4th day of June, 2009 by and between, Homebrook Prospect, LLC, an Illinois Limited Liability Company (the "Landlord"), and the Village of Mount Prospect, Illinois, a municipal corporation (the "Tenant") (sometimes referred to as "Party" or "Parties"), I. Landlord is the fee owner of property legally described as follows: Legal Description (for both parcels): LOTS 2 AND 3 IN JOHN MEYN'S SUBDIVISION OF PART OF BLOCK 16 OF MOUNT PROSPECT, IN THE WEST HALF OF SECTION 12, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED FEBRUARY 26, 1931 AS DOCUMENT NUMBER 10851688, IN COOK COUNTY, ILLINOIS. PIN: Commonly known as: 08-12-107 -004 15 W. Busse Avenue, Mount Prospect, Illinois PIN: Commonly known as: 08-12-107 -003 19 W, Busse Avenue, Mount Prospect, Illinois (the "Property"); and II. Tenant hereby leases the Property from the Landlord in accordance with the following terms and conditions: 1.0 Term. A. The term of this Agreement will begin on June 4, 2009, (the "Commencement Date") and shall end on June 3, 2010, (the "Term"). B. The Term shall automatically renew for additional one (1) year terms (the "Renewal Term") on the same terms and conditions as set forth herein, unless either Party notifies the other Party, in writing, of the intention not to renew this Lease, at least ninety (90) days prior to the expiration of the Initial Term or any applicable Renewal Term. 2.0 Rent. Tenant agrees to pay Landlord the sum of Ten and no/100ths Dollars ($10.00) for the Term of the Lease (the "Rent"), The Rent will be paid in advance with the payment due on the Commencement Date. 3.0 Permitted Uses. The Property shall be used by Tenant only for purposes of iManage:231975_1 1 constructing and operating a public parking lot ("Parking Facilities"), including allowing motor vehicles to be parked on the Property with or without a fee, and for no other use or purpose without the Landlord's prior written consent, which shall be granted or withheld in Landlord's sole and subjective discretion. The Tenant shall comply with all laws, ordinances, codes and regulations regarding the Property and the Parking Facilities. Tenant shall at all times operate the property in a clean and wellmaintained manner and not allow impairment of the property value. Landlord covenants that Tenant, on paying the Rent and performing Tenant's obligations in this Lease, shall peacefully and quietly have, hold and enjoy the Property throughout the Term or until it is terminated as in this Lease provided. 4.0 Tenant Covenants 4.1 Improvements. Promptly after the Commencement Date, Tenant shall plan and construct the parking lot improvements, as Tenant deems necessary in its sole discretion, which shall include but not be limited to the grading and asphalt paving of the property, along with the striping, signage, fencing and any equipment necessary to the parking operation. (the "Improvements"). 4.2 Time for Completion. Tenant shall complete the Improvements within six months of the Commencement Date. 4.3 Indemnification. Tenant hereby agreess to indemnify, defend and hold the Landlord harmless from and against any and all losses, costs, damages, liabilities, claims, suits, actions, causes of action and expenses of every kind and nature (including without limitation, reasonable attorney's fees and court costs) arising from or in connection with (i) Tenant's use and occupancy of the Property, (ii) any breach or default by the Tenant under the provisions of this Lease, (iii) the failure of Tenant or any contractor of Tenant to pay its contractors, subcontractors, or materialmen in connection with the Improvements or its use as a Parking Facilities, (iv) any act, omission, or negligence on or about the Property by the Tenant, its agents, contractors, employees, licensees, customers or business invitees, (v) any claim or cause of action for injury or damage to persons or property brought by third parties arising out of the construction or operation of the Parking F acilities. Tenant further agrees that this indemnity shall continue and remain in full force and effect beyond the term of this Agreement, as to claims arising out of events that occur prior to termination of the Agreement, and shall be terminated only when there is no further obligation of any kind, whether in law or equity, under this Agreement. This indemnity shall not include the intentional or negligent acts or omissions of Landlord, its agents, contractors, employees, licensees, customers or business invitees. 4.4 Insurance. Beginning on the Commencement Date, the Tenant shall insure the Property continuously in amounts that shall minimally include, but not be limited to, the following: a) Combined single limit for bodily injury and property damage b) General Aggregate c) Personal injury d) Limit per occurrence $1,000,000 $2,000,000 $1,000,000 $1,000,000 Certificates of Insurance for this coverage shall name the Landlord as additional insured and be delivered to the Landlord prior to the Commencement Date, and any renewals shall be delivered not less than thirty (30) days prior to the applicable expiration date, iManage:231975_1 2 4.5 Operating Expenses. As part of Tenant's obligation hereunder, Tenant agrees to pay all expenses associated with the holding and operating of the Parking Facilities, including but not limited to paving and striping, landscape maintenance, trash and snow removal, general maintenance, insurance and other charges imposed by law or against the Property, as the result of the Parking Facilities being located thereon, excluding real estate taxes which shall be Landlord's responsibility. 4.6 Permits. Tenant will apply for, pay for and keep current all permits and licenses required for the lawful operation of the Parking Facilities. 4.7 Repairs bv Tenant. All repairs, maintenance or improvements to the Parking Facilities shall be the obligation of the Tenant, but in no event shall Tenant be responsible for any environmental conditions that are not caused by Tenant. 5.0. Tenant Assignment. Tenant shall not assign nor in any manner transfer this Agreement, or any interest therein, nor sublet the Property or any part or parts thereof, and shall permit occupancy only as Tenant deems necessary in connection with the Tenant's use, occupancy and operation of the Parking Facilities on the Property. 6.0. Events of Default. The following events shall be deemed to be events of default by Tenant under this Agreement ("Event of Default"): (a) Tenant shall have failed to pay the rent or any other charge provided herein, or any portion thereof, within ten (10) days after the same shall be due and payable; (b) Tenant shall have failed to comply with any other provisions of this Agreement and shall not cure such failure within thirty (30) days after Landlord, by written notice, has informed Tenant of such noncompliance; (c) Tenant abandons the Property. 7.0 Notice of Default. In the event of a default pursuant to Paragraph 6 above, Landlord may, by serving ten (10) days written notice upon Tenant, terminate this Lease. If Landlord gives Tenant notice of Tenant's default and/or delivers to Tenant a Notice of Demand for Payment or Possession pursuant to the applicable statute (either of which shall hereinafter be referred to as a "Notice of Default"), the Notice of Default will not constitute an election to terminate the Lease unless Landlord expressly states in the Notice of Default that it is exercising its right to terminate the Lease, 8.0. Right to Terminate. During the initial 12 month term of the lease, prior to any extensions or modifications, the Landlord shall have the right to terminate the lease upon any approval by the Village of a Redevelopment Agreement including the Property. It is the intention of the Parties that, following the initial 12 month lease term, either Party shall have the right to terminate this Agreement upon ninety (90) days' prior written notice to the other Party. iManage:231975_1 3 9.0. Subordination. Tenant accepts this lease subject and subordinate to any mortgage, deed of trust or other lien presently existing or hereafter created upon the property, and to any renewals and extensions thereof. Landlord is hereby irrevocably vested with full power and authority to subordinate this lease to any mortgage, deed of trust or other lien hereafter placed upon the property, and Tenant agrees upon demand to execute such further instruments subordinating this lease as Landlord may request. 10.0 Notice. Any and all notices given in connection with this Agreement shall be deemed adequately given only if in writing and addressed to the party for whom such notices are intended at the address set forth below. Any notice or demand from Landlord to Tenant or from Tenant to Landlord shall be mailed by registered mail, certified mail, or personally delivered to the proper address. The customary receipt signed or refused by the party to whom notice is directed shall be conclusive evidence of such service. Notice shall be deemed given when delivered, if given by personal delivery, otherwise when received, as evidenced by receipt or refusal, as applicable. Any and all notices referred to in this Agreement, or that either party desires to give to the other, shall be addressed as follows: For Landlord: With copy to: For the Tenant: With copy to: Homebrook Prospect, LLC. c/o Heimbaugh Capital Development Corp. 2450 Pioneer Road Evanston, IL 60201 George Maurides Maurides and Foley 2 North LaSalle St., Suite 1800 Chicago, IL 60602 Village Manager Village of Mount Prospect 50 South Emerson Street Mount Prospect, IL 60056 Everette M. Hill, Jr., Village Attorney Klein, Thorpe & Jenkins, Ltd. 20 North Wacker Drive Suite 1660 Chicago, Illinois 60606-2903 Any party hereto may, by notice given hereunder, designate any further or different addresses to which subsequent notices or other communications shall be sent. 11.0. Miscellaneous. (a) This Agreement shall be interpreted according to and shall be governed by the laws of the State of Illinois iManage:231975_1 4 (b) The provisions set forth herein constitute the entire agreement of the Parties regarding the matters addressed in the Agreement, and supersede any prior agreements or representations, as it is the intent of the Parties to provide for complete integration within the terms of this Agreement. No provision may be changed or modified unless such change or modification is in writing and duly approved by the Parties, (c) Paragraph headings are for convenience only, and in no way define or limit the scope and content of this Agreement. (d) No delay or failure by either party to enforce or exercise any rights or remedies hereunder shall constitute a waiver of such right or remedy, nor shall any single or partial exercise of a right or remedy preclude any other or further exercise of rights and remedies, (e) LANDLORD AND TENANT HEREBY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ONE PARTY AGAINST THE OTHER ON ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT. (f) This Agreement may be executed in multiple counterparts, and by use of counterpart signature pages, but all such counterparts shall constitute but one and the same agreement. Signature pages bearing facsimile signatures shall be effective for purposes of binding the parties to this Agreement. (g) This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, provided this paragraph shall not permit any assignment contrary to the provisions of this Agreement. (h) In the event of any controversy, claim, or dispute relating to this instrument or the breach thereof, the prevailing party shall be entitled to recover from the losing party reasonable expenses, attorney's fees and costs. IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on the day and date herein above set forth. SIGNATURE PAGE TO FOLLOW: iManage:231975_1 5 TENANT: VILLAGE OF MOUNT PROSPECT, an Illinois municipal Attest: corporation By: Name: Irvana K. Wilks, Village President Date: LANDLORD: HOMEBROOK PROSPECT, LLC, an Illinois limited liability company By:Heimbaugh Capital Development Corporation, Agent By: John D. Heimbaugh Its: President Date: iManage:231975_1 6 By: Name: M. Lisa. Angell, Village Clerk Date: