HomeMy WebLinkAboutAgenda - 04-18-1995 - VIII-D 1
ORANGE COUNTY
BOARD OF COMMISSIONERS
Action Agenda
Item No. y,�-D
ACTION AGENDA ITEM ABSTRACT
Meeting Date: April 18,1995
SUBJECT: DRIVER LICENSE BUREAU LEASE MODIFICATION
DEPARTMENT: PURCHASING AND CENTRAL SERVICES PUBLIC HEARING: YES: NO:xx
ATTACHMENT(S): INFORMATION CONTACT:
PAM JONES, ext.2650
Lease amendment Telephone Number-
Hillsborough 732-8181
Chapel Hill 967-9251
Mebane 227-2031
Durham 688-7331
PURPOSE: To consider amending the lease for the Driver License Bureau space approved by the
Board on February 6,1995.
BACKGROUND: On February 6,1995 the Board approved a lease for the space leased for the Driver
License Bureau in Carrboro. The lease rate for the expiring lease was $8.00 per square foot. The
renewal lease rate was also quoted for$8.00 per square foot for the first year,with CPI adjustments
each year thereafter. There was miscommunication between the Owner and the leasing agent
regarding the renewal rate. The Owner has requested that we allow a CPI adjustment (2.6%)for the
renewal rate,which would make the rate effective May 1,1995$8.21 per square foot. Each subsequent
year of the three year contract would be adjusted by CPI as well. All other terms and conditions of the
lease would remain the same.
RECOMMENDATION: The Manager recommends that the Board approve the amended lease rate of
$8.21/sq.ft. for the Carrboro Plaza Driver License Bureau beginning May 1, 1995; and authorize the
Chair to sign on behalf of the Board.
STATE OF NORTH CAROLINA
COUNTY OF ORANGE LEASE AMENDMENT
THIS LEASE AMENDMENT,made and entered into this,the 18th day of April, 1995,between
CARRBORO BELMAN S.C. LIMITED PARTNERSHIP,by Property Resources (LANDLORD)
and the County of Orange (COUNTY);
WHEREAS, a lease agreement was made and entered into as of the 6th day of February, 1995
between the COUNTY and the LANDLORD;
WHEREAS,the County and the Landlord desire to amend the lease agreement;
NOW THEREFORE,the County and the Landlord mutually agree to the following
Section 3 "Guaranteed Minimum Rental"shall be modified to read:
3. GUARANTEED M ffiff IUM RENTAL. Effective May 1, 1995,the COUNTY agrees to pay to the
LANDLORD at the office of the LANDLORD or at such other place designated by the LANDLORD, the
guaranteed natal of $821 per month payable on or before the 1st day of each calendar month.Effective on the
first day of each Lease Year after the first Lease Year("Adjustment Date"),the Guaranteed Minimum Rental
shall be increased by the amount determined by multiplying the Initial Rental Rate by that percentage which
represents any cost of living increase between the Commencement Date and the Adjustment Date. Such
p=wtage shall be detemmined by utilizing the applicable indices determined by the United State Bureau of labor
Statistics(or its successor organic)through its Consumer Price Index entitled"United States City Average-
All items-All Urban Cm mmers Index". Such adjustment shall be made effective as of the Adjustment Date,as
soma as possible after the index for the applicable month is published,with any deficiency due and payable with
the next monthly installment of rental. Anything contained herein to the contrary notwithstanding,in the event
that the adjustment would reduce the monthly rental from the monthly rental in effect for the preceding Lease
Year,no such adjustment shall be made and the rental then in effect shall continue through the next Adjustment
Date. Any other sums of money or charges to be paid by the COUNTY pursuant to the provisions of any other
section of this Lease other than the Guaranteed Minimum Rental shall be designated as"Additional Charges".
All other terms and conditions shall remain the same.
The parties hereto have executed this LEASE AMENDMENT as of the date and year first written
above.
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LANDLORD: CARRBORO BELMAN,S.C.
Limited PartnrasMp
BY: Troon Project Management Corp.
General Partner
ATTEST:
Secretary Spencer Waxman
Vice President
AFM CORPORATE s$AL
COUNTY: ORANGE COUNTY
Beverly A.Blythe,Clerk Moses Carey,Jr.,Chair
Board of Commissioners Board of Commissioners