HomeMy WebLinkAboutContract 34432�
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LEASE AGItEEMENT FOR OFFICE SPACE
JAMES E. GUINN SCHOOL BUiLDING
THIS LEASE AGREEMENT ("Lease") is entered into by and between the City of Fort
Worth, ("Lessor") and the Taz•x•ant County College District ("Lessee"}.
In considaration of the mutual covenants, pxomises and obligations contained
herein, Lessor and Lessee agree as follows:
1. PROPERTY LEASED
1.1 Leased Area
Lessor hereby leases to Lessee and Lessee hereby leases from Lessor
approximately 1,376 square feet an the second floor designated as Suite No. 229 in the
building known as the "James E. Guinn School" (`Building) located at 1150 South
Freeway, Fort Worth, Texas and as depicted on Exhibit "A", attached hereto and hereby
made a part of this Lease and which is signed or initialed by the parties foz•
identification. Lessor reserves the right to re-assign space allocated to Lessee in the
building, with reasonable notice to Lessee, if deemed necessary bq Lessor for highest and
best use of the facility.
1.2 Buildin�Name
Lessor shall have the right at any time and from time to time to change the
Building Name.
Z. TERM OF LEASE �
The terrri o£ this Lease ("Term") shall be a period of 5 years, starting on July l,
2006 and expiring on June 30, 2011 unless terminated earliex as provided herein.
3. RENEWAL OF TERM
3.1. If Lessee pexfoxms and abides by all provisions and conditions of this
Lease and is not in default, upon the expiration of the Initial Tertn of this lease, Lessee
shall have 2 consecutive options to renew this Lease for terms of 5 years each ("Renewal
Tezxn") at the rental rate for comparable space at the Suilding, which on tlae effective date
af the Renewal Term complies with the then current Schedule of Rates and Charges
published by the Lessor and under the same terms as set out in this lease; provided
however, that if Lessee does not renew this Lease zn vc�riting for a Renewal Term, Lessee
shall autoznatically waive zts right to renew this Lease. In order to exercise its option to
renew this Lease for the second renewable term, Lessee shall notify Lessor in writing of
its desire to renew this Lease no less than ninety calendar days prior to the expiration of
the term then in effect.
Page 1
Guinn Schoo] Lease Agreement
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3.2 Tarmination Option. Lessee sha11 have the right and option {"Termination
Option"), on any date ("Termination Date") which is an anniversary of the
Commencement Date, to cancel this lease by delivexy of at least ninety (90) days prior
written notice to Lessor or any shorter period of time n�utually agreed to by Lessee and
Lessor, provided that Lessee timely pays the hereinaf-ter described Termination Payment
to Lessor. The Termination Payment znust be paid in full to Lessor simultaneously with
the delivery af such written notice of cancellation. Lessee sha11 not have the right to
exercise the Termination Op�on if an Event of Defalut has occuned and is outstanding
on the date Lessee delivers its notice of te��cnination to Lessor or on the Termination Date.
So long as no sums are due and owing under this lease oz� the Termination Date, Lessee
shall immediately vacate the Pxemises on the Texmznation Date in accordance with the
terms of the Lease or as otherwise mutually agreed. For purposes hereof, the
"Termination Payment" shall be one month's rent.
4. COMMON AREA
The "Common Area" of the Building as zt shall exist frozn tizne to time sliall be
that part of the Building designated by Lessor from tin�e to time for the comrnon use of
all Lessees, including, but not lirnited to other facilities, elevators, stairs, tunnels, halls,
lobbies, delivery passages, drinkin.g fountains, public toilets and the like, all of which
shall be subject to the Lessor's sole manageinent and control and shall be operated and
maintained in such manner as the Lessor, in his sole discretion, shall determine. Lessor
reserves the right to change from time to tirne, the dimensions and locations of the
Common Area. Lessee and its employees and in�vitees shall have the nonexclusive xight
to use the Common .Axeas with the Lessor, other Lessees of the Building and other
pexsons entitled to use the same. Use of the Common Area shall be subject ta such
reasonable rules and regulations governing its use as the Lessor may fronn time to tinne
prescribe. Lessee shall not take any action that would interfere with fihe rights of other
persons to use the Common Area. Lessox znay temporarily close any part of the Common
Area for such period as is reasonably necessary to make repairs or alterations.
5. RENT
5.1 Base Rental Rate
As base xental for the lease and use of the Leased Area ("Base Rent"), Lessee
shall pay Lessox, at the Building office, without demand and without deduction,
abatement or setoif except as otherwise expxessly provided for herein, the sum of $12.52
per square foot per year of the I,eased Area of the Building.
5.2 Operating Expense Rental Rate
In the event Operatin� Expenses {as hereinafter defined) of Lessor incu�:7red in
connection with the Land and Building, of which the Leased Area are a part, shall for any
calendar year during the Term of this Lease exceed the sum of the 2006 Base Year Actual
Page 2
Guinn School Lease Agreement
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expenses, Lessee agrees to pay as additional rental Lessee's pro rata share ("Lessee's
Shaxe"} as deternnined by Lessor of such Operating Expenses in excess of 2006 Base
Year (`Bxcess Operating Expenses") of the Leased Area, such Excess Operating
Expenses shall be capped at 8% of contz•ollable expenses. Controllable expenses do not
include taxes and eleciricity.
The terrn "Operating Expenses" as used herein shall include all costs and
expenses of every kind and nature whatsoever incurred by Lessee in connection with the
ownership, operation, and zz�zaintenance of the Building, the Land on which it is located
and any areas adjacent to it, and the parking area and its surrou.nding area as well as
amortization of any capital expenditure which are incuzred b� Lessor to attempt to effect
in the reduction af operating expenses of tbe building or to keep the building in
compliance with all governmenta.l rules and regulations; provided, however, only the
following shall be excluded from Operating Expenses: cost of structural alterations.
Lessee agxees, at Lessor's x•equest, to pay Lessee's Sba�re of E�cess Operating
Expenses for the ensuing twelve (12} months, as estimated once a yeax by Lessor, in time
and place provided in Section 5.2., each in an amount equal to one-twelfth (1/12) of
Lessee's Share so estimated by Lessor. If this Lease commences on other tha�n the first
day of a calendar year, or if this Lease expires oil other than the last day of a prorated
accoxd'zng to ihe portion of the Terzn that occurs duxing such calendar year. At least thirty
(30) days prior to the commencement of each calendar year during the Texm,
cornmencing with the calendar year 200�, Lessor shall furnish Lessee a wxitten statement
setting forth the estimated Lessee's Share for the following year and a staternent showing
one-twelfth (1/12) of the amount of the estirnated Lessee's Share. If, as finally
determined, Lessee's Share shall be greatex thaix or less than the aggregate of all
installments so paid to the Lessor for such twelve (12) znonth period, then Lessee shall
pay to Lessor the aznount of such underpayment within thirty (30) days of delivery of
such statement, or the Lessor shall credit Lessee for the amount o� such overpayment, as
the case may be.
All Excess Operating Expenses shall be paid by Lessee in the proportion of 9.62°/a
of the total.
5.3 Rent
For all purposes under this Lease, "Rent" shall mean the Base Rent and Operatzng
Expense Rental (including an.y additional rent and any adjustnnents io rent as provided in
this Lease). All past due installments of Rent shall beax interest at the highest non-
usurious rate chargeable by Lessor to Lessee from such date due until paid. Unless
changed in accoxdance with Texas law, the applicable method of calculating the usury
rate ceiling under Texas law shall be the indicated (weekly) rate ceiling, frozn t�rne to
tinne in effect, as provided in Tex. Rev. Civ. Stat. Ann. Art. 5069-1.04, as amended.
Page 3
Guinn Schaol Lease Agreement
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7. USE
Lessee agrees to use the Leased Area solely for the purposes of office space
and/or education and training. The permitted use shall be off'xce use and or education and
training. Lessee shall use the Leased Area %r no other purpose without the prior written
consent of the Lessor.
8. MATNTENANCE� REPAIRS AND CONDITION OF AREA.
8.1. General Maintenance and Repairs by Lessee.
Lessee agrees to keep and maintairz the Leased Area, including all fixtures installed
iia a good, clean and sarutary condition at all times. Lessee covenants and agrees that it will
not make or suffer any waste of the Leased Area. Lessor will at Lessor's own expense,
malce all repairs necessaxy to prevent the deterioration in condition or value of the Leased
Area, except those caused by fire or other casualty covered by insurance on the 13uilding
under policies naming Lessor as the znsured. Lessee shall be responsible for all datnages
caused by Lessee, its agents, servants, employees, contractors, subcontractors, licensees or
invitees, and Lessee agrees to fully repair or oiherwise cure a11 such damages at Lessee's
sole cost and expense under the supervision and with the approval of Lessox.
Lessee agrees that, except as otherwise expressly provided herein, all impxovemez�ts,
trade fixfiues, furnishings, equipment and other personal property of every kind ox
description which may at any time be on the Leased Area shall be at Lessee's sole risk or at
the sole risk of those claiming under Lessee. Lessor shall not be liable for any damage to
such property or loss suffered by Lessee's business or business operations which xnay be
caused by the buxsting, overflowing or leaking of sewer or steam pipes, or fron� water fiom
any source whatsaever, or from any heating fxtiues, plumbin� �xtures, electxic wlres,
noise, gas or odors, or from causes of any other matter.
Upon termination of this Lease, Lessee will surrender and deliver up the Leased
Area to Lessor in the sa;nne condition in which they existed at the commencemen# of the
Lease, excepting only ordinary wear and tear and damage arising irozn any cause required
hereunder to be repaired at Lessor's expense.
8.2. Insp,ection.
Lessor shall have the right arzd privilege, through its officers, agents, servants ox
employees, to inspect the Leased Axea a# any time. Lessor shall have the xight to perform
any and all duties or obligations which Lessox is autliorized or required to do under the
terms of this Lease or to perform its governmental duties.under federal, state or local rules,
regulations and laws, including the Codes. Lessee will permit the Fire Marshal of the City
of Fort Worth or authorized designees to inspect the Leased Axea at any time, and Lessee
will comply with all xecommendations made to Lessee by the Fixe Marshal. ox authorized
designee to bring the Leased Area into complianca with F3re Code and Building Code
provisions, as such provisions exist or may hereafter be added ox amended. Lessee shall
Page 4
Guinn Sehool Lease Agreement
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maintain in a proper condition accessible �re extinguishers of a number and type approved
by Fire Undervvriters for the particular hazard involved. Lessor shall provide Lessee with
advance notice of inspeetion when reasonable under the citcumstances.
8.3. 1'ez�£ormance.
If Lessee xs responsible under tbis Lease for any maintenance or repaixs, Lessor shall
notify Lessee in writing and arrange for the maintenance and repair work to be completed
within thirty (30) calendar days of receipE of such notice. Lessee will reunburse Lessor for
the cost of the maintenance or repairs, and such reimburseznent will be due on the date of
Lessee's next monthly rent payment following completion of the maintenance or repairs.
8.4. Environmental Remediation.
To the best o� Lessox's knowledge, the Leased Area complies with all applicable
federal, state and local envirorunenial laws and regulations (callectively "Environmenfal
]Laws"). Lessee has thoroughly inspected the Leased .Area and is fully advised of its or�m
rights without reliance upon any representation made by Lessor concerning the
environmental condition of th.e Leased Area. LESSEE COVENANTS AND AGREES
THAT LESSEE, AT ITS SOLE COST AND EXPENSE, SHALL BE FULLY
RESPONSXBLE FOR THE VIOLATXON OF ANY ENVIRONMENTAL LAWS`
CAZiSED, IN Wl�OLE OR .IN PART, BY LESSEE, ITS OFFICERS, AGENTS,
SER vANTS, EMPLOYEES, CONTRACTORS, SUBCONTRACTORS OR INVI'TEES.
8.5. Lessee's Acceptance of the Leased Area.
Excepting "Punch List" items of which Lessee shall report to Lessor in writing
within ten (10) days after the commencement date hereunder, Lessee acknowledges that
it has inspected the Leased Area and Lessee's talcing possession of the Leased Area shall
be conclusive evidence as against the Lessee that the Leased .Area were in good order and
satisfactory condition when the Lessee took possession. No other promise of the Lessor
to alter, remodel, repair or impzove the Leased Axea or the Building and no other
representation xespecting the condition of the Leased Area or the Building have been
made by Lessor to Lessee.
9. OBLIGATIONS OF LESSOR
9.1 Services Furnished
Subject to the rules azad regulations to which re£erence is hereinai'-ter made, Lessor
shall furnish Lessee, at Lessor's expense, except as provided in Paragraph 5.3. above, the
following sezvices during the Term:
(1) Air conditioning and heating in season, at such times as Lessor
normaliy �urnisk►es these services to other Lessees in the Suilding
and at such temperatures and in such amounts as are considered by
Page 5
Guinn School Lease Agreemant
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Lessor to be standard, but such service outside narmal business
hours and on Saturdays, Sundays and holidays shall be furnished
only at Lessor's discretion and upon reasonable notification.
Lessee shall bear the standard charges of Lessor therefore, which
shall nevex be less thazi the cost thereof.
(2) Hot and cold watex afi those points of supply provided for general
use.
(3) Standard building janitor service in and about the Building and the
Leased Area, five days per week, and periodic window washing;
however, Lessee shall pay the addztional costs attributable to the
cleaning of improvements within the Leased Area otlier than
building siandard improvements.
(4) Elevators for ingress to and egress frozn the Building during such
periods as are considered by Lessor to be standard.
(5) Proper building stan.dard facilities to furnish sufficient electrical
power for standard lighting, typewriters, dictating equipment,
calculating machines and other xxaachines of similax low elect�ical
consumption, but not iz�cluding electzicity required far electronic
data processing equipment, special lightin� in excass of building
standard, or any other item of electrical equipment which singiy
consumes more than 0.25 kilowatts per houx at rated capacity or
requires a voltage other than 120 volts single phase (architect
needs to determine if this is adequate with all electrical, computex,
etc. uses) Lessee shall pay to Lessor, monthly as billed, such
charges as m�ay be separately metered or as Lessor's engineex may
compute for any electrical service furnished to Lessee in excess of
that stated above.
(6) Replacement of fluorescent lamps in building standard ceiling
mounted fixtuxes installed by Lessor a.nd incandescent bulb
replacement in public areas.
(7) For purposes of this lease normal business hours shall be 7:00 a.m.
to 6:00 p,m. on weekdays, except holidays amd 8:00 a.m. to 3:00
p.m. on Satuxdays, except holidays.
9.2 No Eviction or Breach
No interruption, nnoratorium or malfunction of any services or failure of any
machinery or equiprrzent to operate for any cause whatsoever shall constitute an eviction
or disturbance o£ Lessee's use and possession of the Leased A��ea or Building or a breach
by Lessor of any of its obligations hereunder or render Lessor liable for damages or
Page 6
Guinn School Lease Agreement
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entitle Lessee to be relieved fram any of its obligations hereunder (including the
obligation to pay Rent) or grant Lessee any xight of setoff ax recoupment. Tn the event of
any such interruption, howe�ver, Lessor shall use reasonable diligence durin� normal
business hotus to restoxe such service in any circumstances in which such restoration is
within xeasonable control of Lessor and the interruption was not caused by Lessee's fault.
Notwithstanding tlae foregoing, should an interruption of service for more than five (S)
consecutive business days due to no fault of Lessee, then Lessee's rental shall abate to the
extent any portion of the Leased Area is noi able to be leased.
9.3 Additional Services
Should Lessee desire any additional services beyond those described in Paragraph
9.1 or rendition of any of such sez�vices outszde the normal titnes of Lessor for providing
such services, Lessor may (at Lessox's option), upon reasonable advance notice from
Lessee to Lessor, furnish such servicas and Lessee agrees to pay Lessor such charges as
may be agxeed on between Lessor and Lessee, but in no event at a charge less than
Lessor's actual cost plus overhead for the additional services provided. By way of
illustration and not limitation, special equipment xequiring abnormal use of water or
electx•icity used as a power soi,u•ce for data processing machines, including air
conditioning costs therefore, large business machines and similar equipmeni af high
electrical consumption charactezistics shall not be standard water consumption or
electrical service, as the case may be, and the costs thereof shall be paid by Lessee.
Lessee hereby agrees to cause, at its sale expense, separate meters for measuring units of
consumption to be installed within the Leased Area if deiined sezvices conswnned by
Lessee are n.ot standard,
10. ADDITIONS AND FIXTURES
10.1 Anproval Required
Lessee will make no alteration, change, innprovement, repair, replacement or
addition to the Leased Area without the prior written consent of Lessor which consent
will not be unreasonably withheld or delayed. If Lessor grants such prior written consent,
the worlc in such connection shall be at Lessee's expense but by woxlanen of Lessox ox
workmen and contractors appraved in advance in writing by Lessor and in a manner and
upon terms and conditions and at times satisiactory to and approved in advance in writing
by Lessor. In any instance in whitch Lessor gra.n.ts such consent, Lessor may grant such
consent contingent and conditioned upon Lessee's con�ractors, laborers, materialm,en and
others ftunishing labor material for Lessee's job working in harm.ony and not interfering
with any labor utilized by Lessor; Lessor's conh•actors or mechanics or by any othex
Lessee or such other Lessee's contractors or mechanics; and i£ at any tirne such entry by
one or more persans furnishing labor or znaterials for Lessee's work shall cause
disharrr�ony or interference, the consent granted by Lessor to Lessee may be withdrawn
upon forty-eight (48) hours vvritten notice to Lessee.
Page 7
Guinn School Lease Agreement
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10.2 Removal of Items
Lessee may reznove its trade fixtures, of�ice supplies and movable of�ce furnitw•e
and equipment not attached to the Building provided: (1) such xemoval is xnade prior to
the termination of the Term; (2) Lessee is not in default of any obligation or covenant
under this Lease at the time of such removal; and (3) Lassee prompt�y repairs all damage
caused by such removal. All other property at the Leased Area and any altexation or
addition to the Leased Area (including vvall-to-wall carpeting, paneling or other verall
covexing) and any other article attached ar affixed to the flaor, wall or ceiling of the
Leased Axea (any of which as stated above shall require Lessor's priar written consent)
shall become the property of Lessor and shall rezz�ain upon and be surrendered with the
Leased Area as part thereof at the tennination of ihis Lease, Lessee hereby waiving all
rights to any payment or coznpensation therefore. If, however, Lessor so requests in
�writing, Lessee vvill, prior to termination of this Lease, remove any and all alterations,
additions, �'ixttu�es, equipment and property placed or installed by it or at its request in the
Leased Area and will repair any damage caused by such removal.
11. ADDITIONAL OBLIGATIONS AND AGREEMENTS OF LESSEE.
11.1 The Lessee shall not exhibit, sell or offex for sale on the Leased Area or in #he
Building any article or thing (except those articles and things essentially
connected with tk�e stated use of fihe Leased Area by the Lessee) without the
advance consent of Lessor.
11.2 The Lessee shall nafi display, inscribe, print, paint, maintain or aifix on any place
in or aboui the Building any sign, notice, legend, direction, figure or
advertise:m.ent, except on the doors of the Leased Area and on the Building
directvey and then only such name(s) and mattex and in such color, size, style,
place and materzals as shall izrsi have been approved by the Lessor. The listing of
any name other than that of Lessee, whether on the doors of the Leased Area, on
the Building directory or otherwise, sk�all not operate to vest any right ox interest
in this Lease or in the Leased Area or be deemed to be the written consent of
Lessor to any act of Lessee, it being expressly understood that any such listing is a
privilege extended by Lessor revocable at will by written notice to Lessee.
11,3 The Lessee shall not advertise the business, profession or activities of the Lessee
conducted in the Buildiz�g in any manner which violates the letter or spirit of any
code of eihics adopted by any recognized association or arganization pertaining to
such business, profession or activities and shall not use the name of the Building
for azry purposes other than that of the business addxess of the Lessee and shall
never use any picture or likeness af the Building in circulars, notices,
advertisemer�ts or correspondence without the Lessor's consent.
11.4 No additional locks or sinnilar devices shall be attached to any door or window
without Lessor's prior written consent. No keys for any door other than those
provided by the Lessor shall be �nade. If more than two keys for one lock are
Page 8
Guinn School Lease Agreement
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desired, the Lessor will pxovzde the same upon payment by the Lessee. All keys
rt�ust be returned to the Lessor at the expiration or termination of this Lease.
11.5 All persons entering or leaving the Buiiding after hours on Monday through
Friday, or at any time on Saturdays, Sundays or holidays, ma� be required to do
so under such regulations as the Lessor may impos�. The Lessor may exclude or
expel any peddler.
11.& Tk�e Lessee shall not overload any i�oor. The Lessor may direct the time and
manner of delivery, routing and removal and the location of safes and other heavy
articles.
11.7 Unless the Lessor gives advance written consent, the Lessee shall not install or
operate any steam or internal combustion engine, boiler, tnachinery, xefrigerating
or heating device or air-conditioning apparatus in or about the Leased Area or
carry on any mechanical business therein or use the Leased Axea fox housing
accommodations or lodging or sleeping purposes, or do any cooking therein or
use any illuminaiion other than electric light or use or peimifi to be brought into
�he Building any infla.mmable fluids suc}� as gasoline, kerosene, naphtha and
benzene or any explosive, xadioactive rnaterials or other ai�ticles deemed extra
hazardous to life, lzmb or property. The Lessee shall not use the Leased Area for
any illegal or immoral pwposes.
11,8 The Lessee shall cooperate fully with the Lessor to assure the effective operation
of the Building's air-conditioning system.
11.9 The sidewalks, halls, passages, exits, entrances, elevatoxs and stairways shall not
be obstructed by the Lessee or used for any putpose other thaz� for ingress to or
egress from its Leased Axea. The halls, passages, exits, entrances elevators,
stairways and roo£ are not fox the use of the general public and the Lessor shall in
all cases retain the right io control and prevent access thereto by all persons whose
presence, in the judgment oi the Lessor, shall be prejudicial to ihe safety,
character, reputation and interests of the Building and its Lessees. No Lessee and
no employees or invitees of any Lessee shall go upon the roof or mechanical floor
of the Building. .
11.10 Lessee shall not use, keep ox permit to be used or kept any foul or noxious gas or
substance in the Leased Area, or perrrxit or suffer the Leased E1.rea to be occupied
or used in a manner offensive or objectionable to the Lessor ox ather occupants of
the Building by reason of noise, odors and/or vibrations, or interfeze in any way
with other Lessees or those having business there, nor shall any aniznals ox birds
be brought in or lcept in or about the Leased Area or the Building.
11.11 Lessee shall see that the doors and windows, if operable, of the Leased Area az�e
closed and securely locked before leaving the Suilding and must observe strict
care and caution that all water faucets or water appaxatus are entirely shut off
Page 9
Guinn School I,ease Agreement
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before Lessee or Lessee's employees leave the SuiIding and that all electricity
shall likewise be carefully shut off so as to prevent waste or damage. For any
default or carelessness Lessee shall make good alI injluies or losses sustained by
other Lessees or occupants of the Building or Lessor.
In addition to all other liabilities for breach. of anp covenant of this Section, the Lessee
shall pay to the Lessor an amount equal to any incxease in insurance premiwns payable
by the Lessor or any other Lessee in the Building, caused by such breach.
12. INSURANCE.
12.1. Tvues of Covexage and Limits.
Lessee sball procure and maintai�n at a11 times, in full force and effect, a policy or
policies of insurance as specified in this Section 13, naming the City of Fort Woz�tY� as an
additzonal insured and covering all rislcs related to �the leasii�g, use, occupancy, maintenance,
existence or location of the Area. Failuxe to maintain the required insurance may result in
terminafiion of this lease at the discretion of the Lessor. Lessee shall obtain the following
insurance coverage on an occuxrence basis and at the limits speci£'ied herein:
• P�•o e •
A. Fire an.d Extended Coverage shall be maintained by the insurance policy on
all improvements and betterments at their full replacement cost limit;
B. Insurance for Contents—Lessee shall be responsible for maintaining any
policy of uasuxance that will insure against loss of property owxxed by Lessee
that is located on the Leased Premises
C. Commercial Genexal Liability Insuranee -$1,000,000.00 �er occurrence;
$2,000,000 aggregate
12.2. Adjustxnents to Required Coverag�,e and Limits.
Insurance xequirenaents, including additional types and lirnits of coverage �d
iu�.cxeased lim.its on existing coverages, axe subject to change at Lessor's option, and Lessee
will accordingiy comply with such new requirements within thii�y (30) days following
notice to Lessee.
12.3. Certificates.
As a condi.tion precedent to the effectiveness of this Lease, Lessee shall fuxnish
Lessor with appxopriate certificates of insuramce signed by the respective insuxance
companies as proof that it has obtained the types and amounts oi insurance covexa�e
required hexein. Lessee hereby covenants and agrees that not less ihan thirty (30) days prior
to ihe expiration of any insurance policy required hereunder, it shall provide Lessor with a
Page 10
Guinn School Lease Agreement
;;'����;1�!� �s�����
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new or renewal certificate oi insurance. In addition, Lessee slaatl, on demand, provide
Lessor with evidence that it has znaintained such coverage in full force and eff'ect.
12.4. Additional Reguirennents.
A. Additional Tns�,ued Endorsement: "The City of �'ort Worth are added as
additional insured as respects operations an.d activities of, or on behalf of the
named insured." Reasonably equivalent terms may be acceptable at the sole
discretion of the Business Assistance Center.
B. Lessee shall rz�aintain its insurance with underwriters authorized to do business
in the State of Texas and vvhich are satisfactory to Lessor. The policy or policies
of insuraz�ce shall be endorsed to covex all of Lessee's operations and to provide
�liat no material changes in coverage, including, but not limited to, cancellation,
te�mination, non-renewal or amendment, shall be made without thirty {30) days'
prior �vritien notice to Lessor.
12.5 . Fire Or Other Casualtv
If at any time during the Term, the Leased Area ar any portion of the Building or
Common Area (as hereinafter deiined) sha11 be damaged or destroyed by fire or other
casualty, then Lessor shall have the election to terminate this Lease rvithin 120 days fram
the occurrence of such casualty or to repair and reconstruct the Com�non Area, the
Leased Area arzd Building to substantially the same condition in which ihey existed
immediately priox to such damage or destruction, except that Lessor shall not be requzred
to repair or xeconstruct any personal property, furniture, trade fixtures or office
equipment which is located in the Leased Area and removable by Lessee under the
provisions of this Lease.
In any of the aforasaid circumstances, Rent shall abate proportionally during the period
and to the extent that the Leased Area axe un�t for use by Lessee in the ordinary conduct
of its business. If Lessor has elected to repazr and restore the Leased Area to the extent
stated above, this Lease shall continue in full %rce and effect and such repairs will be
znade within a reasonable time thereafter (not ta exceed six m.onths) subject to delays
arising from shortages o£ labox ox materials, acts of God, war or other conditions beyond
Lessor's reasonable control. Should such repairs not be completed within such period,
this Lease shall be terminated. In the event that this Lease is terminated as herein
permitted, Lessor shall refund to Lessee any prepazd Rent (unaccrued as of the date of
damage or destruction) plus Lessee's security deposit pxovided Lessee is in compliance
wzth Paragraph 7 hereunder less any sum owing Lessor by Lessee. If Lessox has elected
to repair and reconstruct the Leased Area to the extent stated above, then the Term shall
be extended by a period of time equal to the period af such repair and reconstruction.
Notwithstanding the provisions of Subparagz'aphs A. and B. of this Paragraph 10, if the
Leased Area ox an.y other portion o� the Building be damaged by �re or othex casualty
resulting from the fault or neglige�ce of Lessee or any of Lessee's agents, employees,
Page 11
Guinn School Lease Agreement — -
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contractors, licensees or invitees, the Rent hereunder shall not be diminished during the
repair of such damage and Lessee shall be liable to Lessox for the cost and expense of the
repair aind restoration of ihe Leased Area or the Building caused thereby to the extent
such cost and expense is not covered by insura�ace pxoceeds.
13. INDEMNIFICATION.
AS A JUNIOR COLLEGE DISTRICT, LESSEE .HAS SOVEREIGN
IMMUMTY FROM T�RT CLAIMS, OTHER TI�41V THOSE XNVOLVING M4TOR
VEHICLES, UNDER THE LA. WS OF THE STATE OF TEXAS. SUBJECT TO THIS
XMMUNITY, AND WITHOUT WA.IVING SAME, LESSEEAGREESAS FOLLOWS:
LESSEE HEREBYASS�IMES ALL LIABILITYAND RESPONSIBILl'T�' FOR
PROPERTY LOSS, PROPERTY DAMAGE AND/OR PERSONAL INJURY OF ANY
KIND, INCLUDXNG DEATH, TO .ANY AND ALL PERSONS, OF ANY KIND OR
CHARACTER, WHETHER REAL OR ASSERTED, ARl'SI'NG OUT OF OR IN
CONNECTXON WITH ITS USE UND�R THIS LEASE OR WITH THE LEASXNG,
MAINTENANCE, USE, OCCUPANCY, EXISTENCE OR LOCATtON OF THEAItEA,
EXCEPT TO THE EXTENT CAUSED BY THE NEGLI'GENT ACTS` OR OMISSXONS
OR INTENTIONAL MISCONDUCT OFLES,SOR.
LESSEE COVENANTS AND AGREES TO, AND DOES HEREBY,
INDEMNXFY, HOLD HARIVILESS AND DEFEND LESSOR, ITS OFFXCEItS,
AGENTS, SERYANTS AND EMPLOYEES', FROM AND AGAINST A1VY AND ALL
CLAIMS OR LAWSUITS FOR EITHER PROPERTY DAMAGE OR LOSS
(INCLUDING �LLEGED DAMAGE OR LOSS TO LESSEE'S BUSINESS.AND ANY
RESULTXNG LOST PROFITS) AND/4R PERSONAL INJURY, INCL UDING DEATH,
TO ANYAND ALL PERSONS`, OFANY KIND OR C'HAItACTER, WHETHER REAL
OR ASSERTED, ARISXNG OUT �F OR XN CONN.ECTION W.ITH THIS LEASE OR
WITH THE LEASING, MAINTENANCE, USE, OCCUPANCY, EXISTENCE OR
LOCATION OF THE AREA, EXCEPT TO THE EXTENT CAUSED BY THE
NEGLXGENT ACTS OR OMISSXONS OR INTENTIONAL MISCONDUCT OF
LESSOR.
LESSEEASSUMESALL RESP�NSIB1'LITYANDAGREES TO PAYLESSOR
FOR ANY AND ALL INJURY OR DAMAGE TO LESSOR'S PROPERTY WHICH
ARISES OUT OF OR XN CONNECTION WITH ANY .AND ALL ACTS OR
OMISSIDNS OF LESSEE, ITS OFFXCERS, AGENTS, EMPLOYEES,
CONTRACTORS, SUBCONTRACTORS, LICENSEES, ,I1VirITEES, PATRONS OR
TRESPASSERS, EXCEPT TO THE EXTENT CAIISED BY THE NEGLIGENT ACTS
OR OMISSIONS OR INTENTXONAL MISCONDUCT �FLESSOR.
LESSOR SHALL NOT BE RESPONSIBLE FOR INJ'U.RY TO ANY PERSON
ON THE AREA OR FOR HARM TD ANY PROPERTY WHICH BEL�NGS TO
LESSEE, ITS OFFIGERS, AGENTS, SERYANTS, EMPLDYEES, CONTRACTORS,
SUSCONTRACTORS, LICENSEES, INVITEES �R PATRONS, AND WHICH MAY
Page 12
Guinn School Lease Agreement
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BE STOLEN, DESTROYED aR IN ANY WAY DAMAGED; AND LESSEE HEREBY
XNDEMNIFIES AND HOLDS HAR1lILESS' LESSOR, ITS OFFICER,S', AGENTS,
SERYANTS AND EMPLOYEES FROM A1VD AGAINST .ANY AND ALL SUCH
CLAIMS, EXCEPT TO THE EXTENT CAUSED SY THE NEGLIGENT ACTS OR
OMISSI4NS OR INTENTI'ONAL MISCONDUCT' OFLESSOR.
14. ASSIGNMENT AND SUBL�T`TING.
14.1.. In General.
Lessee shall not assign, sell, convey, sublease ar transfer any of its rights,
privileges, duties or interests granted by this Lease without the advance written consent
of Lessor.
14.2. Conditions oiApproved Assi¢nments and Subleases.
If Lessor consents to any assigtunent or sublease, all texms, covenants and
agreements set foz�h in this Lease shall apply to the assignee or sublessee, and such
assignee or sublessee shall be bound by the terms and conditions oi this Lease the sazne
as if it had originally executed this Lease, The failure or refusal of Lessor to approve a
requested assignment or sublease shall not relieve Lessee of its obligations hereunder,
including payment of rentals, �ees and other charges.
15. DEFAULT AND REMEDIES
A. Notwithstanding anything to the contrary, this lease znay be terminated by
Lessor
with 48 hour written notice of terrt�ination, if Lessee causes an "Event of
Default" (as hereinafter defined) to occur.
B. Eaeh of the follovving aets or omissions of Lessee or occurrences shall
constitute an "Event oi Default:"
(1) �'ailure or refusal by Lessee to timely pay Rent or other
payments hereunder, after having been notiiied in writing
by Lessor that such rent ox othex due payments have not
been made.
(2) Failure to perform or observe any other covenant or
condition of this Lease by Lessee to be performed or
observed prior to the expiration of a pexiod of ten (10) days
following written. notice to Lessee of such failure.
(3) Abandonment or vacating of the Leased Area or any
significant portion thereof for a period in excess of ninety
(90) days.
Page 13
Guinn School Lease Agreement
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(4) The filing or execution or occurrence of: A petition in
bankruptcy or other insolvency proceeding by or against
Lessee; or petition or answer seeking relief under any
provision of the Bankruptcy Act; or an assi�nment for the
benefit of creditors or connposition; or a petition or other
proceeding by ox against the Lessee for the appointment of
a trustee, receiver or liquidator of Lessee or any of Lessee's
property; or a proceeding by any govexnmental authority
for the dissolution or liquidation of Lessee.
C. This Lease and the Term and estate hereby granted and the demise hereby
made are subject to the limitation that if and whenever any Event of
Deiault shall occur, Lessor may, at its option, in addition to all other rights
and rennedies given hereunder or by law or equity, do any one ox moxe of
the following:
{1) Termiz�ate this Lease, in which eveni Lessee shall
imznediately surrender possession of the Leased Area to
Lessor.
(2) Enter upon and take possession of the Leased Area and
expel or remove Lessee any other occupant therefrom, with
or without having terminated the Lease.
(3) Alter locks and other security devices ai the Leased Area.
D. E�ercise by Lessor oi any one or more remedies hereunder granted or
othexwise available shall not be deemed to be an acceptance of surrender
of the Leased Area by Lessee, whether by agreement or by operation of
law, it beiz�g understood that such surrender can be effected only by the
written agreement of Lessor and Lessee. N� such alteration of secuxity
devices and no xenaoval or other exercise of dozninion by Lessor over the
property of Lessee or others at the Leased Area shall be deemed
unauthorized or constitute a conversion, Lessee hereby consenting, after
any Event of Default, to the aforesaid exercise of daminion over Lessee's
property within the Building. All claims for damages by reason of such
re-entry andJor repossession and/or alteration of locks or other security
devices are hereby waived, as are all claims %r damages by reason of any
distress waxrant, forcible defiain.er proceedings, sequestration proceedings
or other legal process. Lessee agrees that any re-entry by Lessor may be
pursuant to judgment obtained in forcible detainer proceedings or other
legal proceedings or wiihout the necessity for any legal proceedings, as
Lessor may elect, and Lessor shall not be liable in trespass or otherwise.
Page 14
Guinn School Lease Agreement
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E. In the event Lessor elects to terminate the Lease by reason of an Event of
Default, then, notwithstanding such termination, Lessee shall be liable for
and shall pay to Lessor at Fort Worth, Tarrant County, Texas, the sum of
all Rent and other indebtedness accrued to the date of such termination,
plus, as liquidated damages for such default and not as a penalty, an
amount equal to the then present value of the Reni: reserved hereunder for
the remaining portion of th.e Term (had such Terzn not been terminated by
Lessor prior ta the date of expiration stated in Paxagraph 2) using a market
present value discount factor to calculate the same.
In the event Lessor elects to terminate the Lease by �•eason of an Event of
Default, in lieu of exercising the rights of Lessor Luader the preceding
paxagraph, Lessor may instead hold Lessee liabl8 for all Rent and ather
indebtedness accrued to the date of such termination, plus such Reni and
otl�er indebtedness as would othexwise have been required to be �aid by
Lessee to Lessor during the �eriod following termination of the Tenn
measured from the date of such termination by Lessor until the date of
expiration stated in Paragraph 2(had Lessor not elecfied ta terminate the
Lease on account of such Event of Default) diminished by any net sums
thereafter received by Lessox through re-letting tha Leased Area durin�
said period (after deducting expenses incurred by Lessor as provided in
Subparagraph G hereofl. Actions to collect amounts due by Lessee
provided for in this Paragraph lb may be brought frorn tznae to time by
Lessor during the aforesaid period, on on.e or more occasions, without the
necessity of Lessor's waiting until expiration of such period; and in no
event shall Lessee be entitled to any excess of Rent (or Rent plus other
sums) obtained by re-letting over and above the Rent provided for in this
Lease.
F. In the event Lessor elects to repossess the Leased Area without
terminating the Lease, then Lessee shall be liable for and shall pay to
Lessor at �ort Worth, Tar�-ant County, Texas, all Rent and other
indebtedness accrued to the date o:f such repossession, plus Rent required
to be paid by Lessee to Lessor during the remainder of the Term until the
date of expiration of the Term as siated in Paragraph 2, diminished by any
net sums thexeafter received by Lessor thxough re-letting the Leased Area
during said period (aftex deducting expenses incurred by Lessox as
provided in Subparagraph G hereo�. �n no eveni shall Lessee be entitlad
to any Rent herein reserved. Actions to collect amounts due by Lessee as
provided in this Paragraph 16.F. may be brought from tinne to time, on one
or more occasions, without the necessity of Lessor's waiting until
expiration of the Term.
G. In the case of ax� Event of Default, Lessee shall also be liable for and shall
pay to Lessor, at Fort Worth, Tarrant County, Texas, in addition to any
sun� provided to be paid above: Broker's fees incurred by Lessor in
Page 1 S
Guinn School Lease Agreement
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connection with re-letting the whole or any part of the Leased Area; the
cost of removing and storing Lessee's or other occupant's property; the
cost of repairing, altering, rexnodeling or otherwise putting the Leased
Area inio condition acceptable to a new Lessee or Lessees; and all
expenses incurred by Lessor in enforczng Lessor's remedies, including
reasonable attorneys' fees. Past due Rent and other past due payments
shall bear interest from nnaturity until paid at the highest non-usurious xate
chargeable by Lessor to Lessee, calculated as set forth in Paragraph 5.
hereof.
H. In the event o#' termination or repossession of the Leased Area for an
Evant of Default, Lessor shall attempt to re-let the Leased Area, ox any
portion tihereof, or to collect Rent after re-let�ing
I. If Lessee should fail to make payment or cure any Event of Default
hereunder witkun the time herein permitted, Lessor, without being under
any obligation to do so and without thereby waiving such default, �nay
make such payment and/or remedy such other Event of Default for the
account of Lessee (and enter the Leased Area for sucla purpose) and
thereupon Lessee shall be obligated to, and hereby agrees to, pay Lessor,
upon demand, as additional Rent herei.uider, all costs, expenses and
disbursernents (including reasanable attor�neys' fees) incurred by Lessor in
taking such rernedial action.
J. In the event of any default by Lessor, Lessee's exclusive remedy shall be
an action foz damages (Lessee hereby waiving the benefit of any laws
granting the right to terminate this Lease, to a lien upon the pxoperty of
Lessor and/or upon Rent due Lessor), but prior to any such action Lessee
will give Lessor written notices specifying such de£ault with particulaxity
and Lessor shall thereupon ha�e thirty (30) days (plus such additional
xeasonable period as may be required an the exercisa by Lessor of due
diligence) in which to cw:e any such default. Unless and until Lessor fails
to so cuxe any default after such notice, Lessee shall not have any remedy
or cause oi action by reason lhereof. All obligations of Lessox hereunder
will be construed as covenants, not conditions, and all such obligations
will be binding upon Lessor only during the period of its ownership of the
Building and not thereaftex. Lessor sha11 have no coiporate liability for
the perfoz�rn.ance of any obligations hereunder, recourse by any party for
default against Lessor being liznited to Lessox's intexesi in the Building.
The term "Lessor" shall mean only the owner oi the Building at the date of
comrr�encement of the Term, and in the event of the transfer by such
owrxer of its interest in the Building, such owxzer shall thereupon be
released and dzscharged from all covenants and obligations of the Lessor
thereafter accruing, but such covenants and obligations shall be binding
Page 16
Guinn School Lease Agreement
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during the Term upon each new owner for the duration of such ownex's
ownership.
16. LIENS.
16.1. Liens bv Lessee.
Lessee acknowledges that it has no authoriiy to engage in any act or to make any
contract that may create or be.the foundation fox any lien upon the property or interest in
the property of Lessor. If any such puxported lien is created or filed, Lessee, at its sole
cost and expense, shall liquidate an.d dzscharge the same wifihin thirty (30) days of such
creation or filing. Lessee's failure to discharge any sueh purported lien shall constitute a
breach of this Lease and Lessor may terminate this Lease immediately. However,
Lessee's financial obligation to Lessor to liquidate an.d discharge such lien shall continue
in effect following termination of this Lease and until such a time as the lien is
d'zschaz•ged.
I7. COMPLI.ANCE WI'I'H LAWS ORDINANCES RULES AND
REGULATTONS.
Lessee covenants and agrees that it shall not engage in any unlawrul use of the A.rea.
Lessee fw�ther agrees that it shall not permit its officers, agents, servants, employees,
contractoxs, subcontractors, patrons, licensees or invitees to engage in an.y unlawful use of
the Area and Lessee immediately shall remove from the Area any person engaging in such
unlawful activities. Unlawful use af the Area by Lessee itself shall constitute an imrnediate
breach of this Lease.
Lessee agrees to comply with a11 federal, state and local laws; all ordinances, rules
and regulations o£ the City of Fort Worth and the City of Fort Worth Police, Fire and Health
Departments. If Lessor notifies Lessee or any of its aff'xcers, agents, employees, contractors,
subcontractors, licensees or invitees of any violaiion of such laws, ordinances, rules or
regulations, Lessee shall immediately desist from and correct the violation.
18. NON-DISCRIMTNATION COVENANT.
Lessee, for itself, its pexsonal representativas, successors in interest and assigns, as
part of the consideration herein, agrees as a covenant running wi.th the land that no person
shall be excluded from participation in or denied the benefits of Lessee's use of the Axea on
the basis of xace, color, national origin, religion, handicap, sex, sexuaJ orientation or fanulial
status. Lessee further agrees for iYself, its personal representatives, successors in interest and
assigns that n.o pezson shall be excluded from the provision of any services on or in the
construction vf any improvements or alterations to the Area on grounds of race, color,
national origin, religion, handicap, sex, sexual oxientation or familial status.
Lessee agrees ta iurnish its accommodations at�d to price its goods and sezvices on a
fair and equal basis to all persons.
Page 17
Guinn School Lease Agreement
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rf any clainz arises fro�n afa alCeged vrolation of this non-discrirninatlon covenant
by Lessee, its peYsonal ►�epresentatives, successors in interest or assigns, Lessee agrees to
indetn�iify Lessor and hoCd Lessor harmless.
19. LICENSES AND PERMITS.
Lessee shall, at its sole expense, obtain and keep in effect all licenses and pernuts
necassary for the operation of zts busiu�ess.
20. NO WA.�VER.
The fa.ilure of Lessox to inszst upon the perfonmance of any term or provision of this
Lease or to exercise any right granted herein sha11 not constitute a waiver of Lessor's right to
insist upon appropriate performance or to assert any such right on any future accasion.
21. VENUE AND JURTSDICTION.
Should any action, whether real or asserted, at law or in equity, arise out of the terms
of this Lease or by Lessee's operations on the Area, venue for such action shall lie in state
courts Iocated in Tarrant County, Texas or the United States District Court for the Northern
District of Texas, Fort Worth Division. This Lease shall be constx-ued in accordance w�th
the laws of the State o:f Texas,
22. ATTORNEYS' FEES.
In any action brought by Lessor ox Lessee for the enfo�cement of the obligations of
the other party under this Lease, the prevailing party shall be entitled to recover from the
other party reasonable attorneys' fees arising irorn such action.
23. SE'V�RA,BILITY.
If any provision of this Lease sha11 be held to be anvalid, illegaI or unenforceable, the
validity, legality and enforceability of the remaining provisions shali not in any way be
affected or impaired.
24. FORCE MAJEURE.
Lessor and Lessee shall exercise every reasonable effort to meet theix respective
obligations as set £orth in this Lease, but shall not be held liable for any delay in or omission
of performa�nce due to force majeure or other causes beyond their reasonable control,
including, but not limited to, compliance with any government law, ordinance or regulation,
acts of God, acts o� omission, fires, st�•ikes, lockouts, national disasters, wars, riots, matexial
or labor restrictions by any governmental autb.ority, transporlation problems and/ox any
other cause beyond ihe reasonable control of the partias.
Page 18
Guinn School Lease Agreement
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25. HEADINGS NOT CONTROLLING.
Headings and titles used in this Lease are for reference puiposes only and shall not
be deemed a part of this Lease.
26. ENTIRETY OF AGREEMENT.
This written inst�ument, including any docuanents incorporated herein bq reference,
contains the entire understanding and agreement between Lessor and Lessee, its assigns and
successors in interest, as to the matters contained herein. Any priox or contemporax�eous
oral or written agreement is hereby declared null and void to the exteni in conflict with any
provisions of this Lease. The terms and condztions of thzs Lease shall not be amended
unless agreed to in writing
and signed by bath parties.
IN WITNESS WHEREDF, the parties hezeto have exeeuted thzs Lease in
multiples this �%�� day of ��c ���-,��, 2006.
LESS4R
City of Fort Wort,h
t fZ�[.'- ' L'L � .�
�
By: �
Dale Fisseler
G� . Assistant City Manager
ATTEST:
: ��,t'��a � �1iG�U-�� ���"
°l M Hendrix
City Seeretary
APPROV AS TQ�ORM AND LEGALITY:
%
l �--_
Ci Attorn or His Designee
Date:
M & C Number: G-14600
,a��l�F���,
Page 19
Guinn School Lease Agresment
LESSEE
Tarrant County College District
�
B� --- � _- __- _�
Y•
D vid_ A. Wells
Provost
��r����1G4�� 1SbVF9��
���1� ��'��; �� �'�I �°1'T
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; � �.:
STATE OF TEXAS
COUNTY OF TARRANT
BEF4RE ME, the undersigned authority, a Nota�y Public in and for the State of
Texas, on tkus day personally appeared Dale Fisseler known to me to be the person whose
naxne is subscribed to the foregoing instrument, and acknowledged to me that the same was
the act of the City of Fort Worth and that he executed the same as the act oithe Ciiy of Fort
Worth for the purposes and consideration therein expxessed and in the capacity tlaexein
stated.
GL ,,EN UNDER MY HAND AND SEAL OF OFFICE this ��D day of
J�YZ �,`e,t_�� 2006.
�,��Y�n ANA L. BRISENO �
� Notary Public
* �` STATE OF iEYA�
�A�OF�py My Comm. Exp.01!'861200i
STATE OF TEXAS
COUNTY OF TARRANT
i���
r
,ro� � ,/I�i,���
Notary Public in and %r the State of Texas
BEFORE ME, the undersigned authority, a Notary Public in and for the State of
Texas, on this day personally appeared Davzd A. Wells, . known to me to be the pexson
whose name is subscribed to the foregoing instiument, and acknowledged to me that the
sarne was the act of the Tarrant County Coliege District and that he executed the same as the
act of the Tarrant County College District for the ptuposes and consideration therein
expressed and in the capacity therein stated.
m`�,i
, GNEN UNDER MY HAND AND SEAL OF OFFICE this � day of
: �'���'�- , 2006.
�
,i'i�-�;��.t � / �G����
ot�ry Public in and for the State of Texas
,�;��"'°�;?, KAREN 5 BURKNART
= �' "` Notary public State of Texas
: . �� _
�,y {a"� My Cc�mrtil6siari ExNir�s
�-„�,' d,,,�' May 19, �odq
Page 20
Gainn School Lease Agree►nent
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Page 1 of 2
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 12/7/2004
DATE: Tuesday, December 07, 2004
LOG NAME: 17GUINNMASTERLS
REFERENCE NO.: �'�G-14600
SUBJECT:
Authorization to Assign the Leases under the Master Lease of the James E. Guinn School from the
Fort Worth Business Assistance Center to the City of Fort Worth, Terminate the Master Lease and
Renew Expired Leases
RECOMMENDATION:
It is recommended that the City Council authorize the City Manager to:
1. Accept assignment of existing leases between Guinn School tenants and the Fort Worth Business
Assistance Center;
2. Terminate the Master Lease between the City of Fort Worth and the Fort Worth Business Assistance
Center; and
3. Renew expired leases between tenants and the City of Fort Worth.
DISCUSSION:
Council approved the Master Lease between the City of Fort Worth and the Fort Worth Business Assistance
Center (the BAC) on May 22, 2001. The BAC board considered the lease during its meeting on June 14,
2001, requested changes and approved the final version during its meeting on July 12, 2001.
The Master Lease states that the agreement shall be for five years, beginning on May 23, 2001 and that the
BAC has the option to renew the lease for two terms of five years each. The BAC and the City agree that
either party may terminate the Agreement, with cause, by giving the other party 90 days written notice.
The City Administer opted to Master Lease the building to the BAC because at the time, the City
was negotiating with Bank One to sell the federal tax credits, which would have required that the City enter
into a complicated sale of the leasehold rights to the BAC, a qualified non-profit organization. Ultimately, the
U. S. Economic Development Administration refused to approve the sale, and the City retains ownership of
the James E. Guinn Middle School thereby voiding the reason for the BAC to retain the Master Lease. The
lease document will be prepared by the Department of Law. The Guinn School is currently 100% leased
and it is not anticipated that additional tenants will be added.
This property is located in COUNCIL DISTRICT 8.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that this action will have no material effect on City Funds.
http://www.cfwnet.org/council�acket/Keports/mc�rint.asp 1/30/2007
TO Fund/AccountlCenters
Submitted for City Manager's Office bv:
Originating De�artment Head:
Additional Information Contact:
FROM Fund/Account/Centers
Dale Fisseler (Acting) (6266)
Tom Higgins (6192)
Dorothy Wing (212-2665)
Page 2 of 2
http:Uwww.cfwnet.org/council�acket/Reports/mc�rint.asp 1/30/2007