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HomeMy WebLinkAboutAgenda - 01-19-1999 - 8iORANGE COUNTY BOARD OF COMMISSIONERS Action Agenda Item No. t-.•f ACTION AGENDA ITEM ABSTRACT Meeting Date: January 19, 1999 SUBJECT: Lease Agreement renewal; Coldwell Banker, 501 W. Franklin Street DEPARTMENT: PURCHASING AND Public Hearing: No CENTRAL SERVICES Budget Amendment Reqd? No ATTACHMENT(S): Lease Agreement Renewal INFORMATION CONTACT: PAM JONES, ext. 2650 Telephone Number- Hillsborough 732-8181 Chapel Hill 967-9251 Mebane 227-2031 Durham 688-7331 PURPOSE: To acknowledge the lease agreement renewal and to approve the lease renewal amount. BACKGROUND: The County purchased the property at 501 W. Franklin Street Chapel Hill in July, 1996. The lease existing at the time of purchase between the owners of the property and Coldwell Banker for Suite 100 included athree-year option to renew. The lease was maintained by the County upon our purchase of the property. Coldwell Banker has opted to exercise their three-year renewal. The renewal reflects the same terms and conditions of the existing lease, with the exception of the following: - New term shall commence March 1, 1999 and terminate February 28, 2002; and Rental for the renewal term shall be $160, 215, which includes a 2.5% increase for years two and three of the renewal period; and Notice requirements are modified to reflect the County as owner of the property. Since the existing terms and conditions also govern the renewal, no taxes in lieu will be assessed. RECOMMENDATION: The Manager recommends that the Board acknowledge the option to renew by Coldwell Banker Realty Center and approve the renewal term rent amount of $160,215; and authorize the Chair to sign on behalf of the Board. ,~ NORTH CAROLINA COUNTY OF ORANGE LEASE AGREEMENT RENEWAL WHEREAS a lease agreement was made and entered into as of the first day of March, 1996 by and between the Devisees of Orville B. Campbell, whose interests were purchased in July, 1996 by the County of Orange, hereinafter referenced as the County, and Coldwell Banker, hereinafter referenced as Tenant, for space to be used as offices for the Tenant at 501 West Franklin Street, Chapel Hill, North Carolina; WHEREAS, the County and the Tenant mutually agree to the following: The lease agreement will be continued for a period of three years commencing on March 1, 1999 and ending at 12:00 midnight on February 28, 2002. 2. Rent for the renewal term is set as follows: The total rental for the three year renewal term shall be one hundred sixty thousand two hundred and fifteen dollars ($160,215) payable in equal monthly installments of $4,341 each, for the first year and an annual increase of two and one half percent (2 .5 %) increase for each year thereafter. 3. Section 32 shall be modified to read as follows: Notices. For the purpose of notice or demand, the respective parties shall be served by certified or registered mail, return receipt requested, addressed to the County or the Tenant at their respective office address, as set forth herein: To County: Orange County Director of Purchasing and Central Services PO Box 8181 Hillsborough, NC 27278 AND Stephen J. Manton, agent ESM Associates PO Box 4523 Chapel Hill, NC 27515 Tenant: Ms. Glenn Sumner Coldwell Banker, Realty Center 501 West Franklin Street Chapel Hill, NC 27514 4. All other terms and conditions shall remain the same. This agreed to the day of , ~ ggg. COUNTY: Alice M. Gordon, Chair Attest: Beverly A. Blythe, Clerk to the Board TENANT: Glenn G. Sumner, President Witness: This instrument has been pre-audited in the manner required by the Local Government Budget and Fiscal Control Act. (SEAL) (SEAL) Kenneth Chavious, Orange County Finance Director STATE OF NORTH CAROLINA COUNTY OF ORANGE I, , a Notary Public for said County and State, do hereby certify that ,personally appeared before me this day and acknowledged that he/she is of Coldwell Banker, Realty Center, Inc. a corporation, and that by authority duly given and as the act of the corporation the foregoing instrument was signed in its name by its sealed with its corporate seal and attested by himself/herself as its Witness my hand and official seal, this the day of ,19 _ Notary Public My Commission expires: STATE OF NORTH CAROLINA ORANGE COUNTY I, , a Notary Public for said County and State, do hereby certify that Beverly A. Blythe personally appeared before me this date and acknowledged that she is the Clerk to the Board of Commissioners of Orange County, and that by authority duly given and as the act of Orange County, the foregoing instrument was signed in its name by Alice M. Gordon, Chair, sealed with its official seal, and attested by herself as its Clerk. Witness my hand and official seal, this the day of , 1999. Notary Public My Commission expires: /-~~- 9 ORI~ii\TAL SiGNATVRES NORTH CAROLINA COPY ~ DIST: ~ u tl~.~YK.t'ItiL55 i t~1~ VS' COUNTY OF ORANGE LEASE AGREEMENT RENEWAL WHEREAS a lease agreement was made and entered into as of the first day of March, 1996 by and between the Devisees of Orville B. Campbell, whose interests were purchased in July, 1996 by the County of Orange, hereinafter referenced as the County, and Coldwell Banker, hereinafter referenced as Tenant, for space to be used as offices for the Tenant at 501 West Franklin Street, Chapel Hill, North Carolina; WHEREAS, the County and the Tenant mutually agree to the following: The lease agreement will be continued for a period of three years commencing on March 1, 1999 and ending at 12:00 midnight on February 28, 2002. 2. Rent for the renewal term is set as follows: The total rental for the three year renewal term shall be one hundred sixty thousand two hundred and fifteen dollars ($160,215) payable in equal monthly installments of $4,341 each, for the first year and an annual increase of two and one half percent (2 .5 %) increase for each year thereafter. 3. Section 32 shall be modified to read as follows: Notices. For the purpose of notice or demand, the respective parties shall be served by certified or registered mail, return receipt requested, addressed to the County or the Tenant at their respective office address, as set forth herein: To County: Orange County Director of Purchasing and Central Services PO Box 8181 Hillsborough, NC 27278 AND Stephen J. Manton, agent ESM Associates PO Box 4523 Chapel Hill, NC 27515 Tenant: Ms. Glenn Sumner Coldwell Banker, Realty Center 501 West Franklin Street Chapel Hill, NC 27514 4. All other terms and conditions shall remain the same. This agreed to the day of , 1999. COUNTY: C~(.ft-w / V l Alice M. Gordon, Chair Attest: (SEAL) Beverly A. lythe, Clerk the Board TENANT: ~ c~-~~ lenn G. Sumner, President Witness: ~x.~G This instrument has been pre-audited in the manner required by the Local Government Budget and Fiscal Control Act. neth Chavious, Orange County Finance Director (SEAL) ,. :1 y-,- <^„, ~F 'fi'x tC>'~ ~`-"„°. r . ~, , E-S-M ASSOCIATES Investment & Commercial Real Estate MEMORANDUM To: Tenants of the Bentley Building From: - Stephen J. Manton, GCIM, property manager Ref: Parl~ng-at the property - _ Date: July'~2,.1996 As announced earlier, ,the Bentley, and Campbell Buildings have been sold.. and the new . owners are Orange County government. `I promised you a seamless .transition between - - e , , '~ ms that-need owners and I hoge~ that--it will be. ~f you. have `any communications or probl attention, I will:. contiriie to be as in the -past, 'responsive to you. I ask ;for a .little. bit oi` ~tirne in order to~answer~~any~questitin: of :cancerj~s relaxed to major needs and interests. The Orange County people would like to'gain a better: handle .on the. parking lot use and ~I ` am assigned parking spaces: hav$~ basked meta please ,begin the enforcement of the advising you that as of, August 1,.996 if°vehicles are parked in the Bentley Building or ,- ' Campbell` Building parking lot without, proper stickers -displayed in the rear window; whey r `' will be subject to being xowed. All: previously assigned parking spaces are numbered and learn of any..-unusual circumstance that would prohibit yourusuig recorded, so unless I:: ~ ~ , .your assigned space, ;will .assume -that all-is acceptable. '~ ,, - - A copy:of the_c~tiginal assignment~of spaces is herewith attached, and l ask 1 than qou-please-~spbct the bout: visitor parking spaces. and the two .handicap parkingspaces to be -:used as intended - For visitors and handicapped visitors. Your cooperation-will be .appreciated and hopefully will provide. us with the ability to monitor-the, parking'of your vehicles and everyone's interest. Thank you: w ® P.O. Box 4523 • Chapel Hill, NC 27515-4523 • (919) 929-5551 • Fax {919) 929-1115 ^ . '~ ~. BENTLEY BUILDING c/o ESM ASSOCIATES P.O. BOX 4523 CHAPEL HILL, NC 27515 (919) 929-5551 Parl~ng Assignment 15 - 31 ~ Realty Center - Coldwell Banker Real Estate 32 - 34 Jim Lilley Properties 35 - 36 Chapel Hill Board of Realtors 37 - 38 William D. Rogers Trade Group 39 - 42 Hewlett-Packard Graphics Lab 43 Alan B. Gray Insurance 44 - 47 Rental Resources of Durham Chapel Hill 48 - 51 Hewlett-Packard Graphics .Lab 57 - 59 Interstate Johnson Lane 60 - 65 Orange County 66 - 73 Hewlett-Packard Graphics Lab PARKING SPACES MARKED "VISITOR" AND "HANDICAPPED" ARE -PROVED FOR 3'HOSE _SHORT- TERM ~ STS OE A TENANT. PLEASE DO NOT INCONVENIENCE' THOSE WHO NEED THOSE SPECIAL SPACES. SHORT TERM DOES NOT MEAN OR SUGGEST THAT TENANTS PARK THERE SO AS TO "RUN INTO THEIR OFFICE FOR A MINUTE" To assist in the monitoring of the parking azeas, please display the appropriate Bentley Building Parking Decal on your automobile's rear window. Thank you. C : \sjm_data\word\county\parking. doc ~$ ~- s