HomeMy WebLinkAboutContract 35972-T1 CITY SECRETARY; _
CONTRACT NO. Z " �.�,
TERMINATION OF LEASE AGREEMENT
THIS TERMINATION AGREEMENT ("Agreement") is entered into as of �� 3 , 2012
by and between WTW Properties, Inc. ("Lessor"), a Delaware corporation and The City of Fort
Worth, a home-rule municipal corporation situated in Tarrant, Denton, Parker and Wise Counties
("Lessee").
WHEREAS, 801 Grove, Ltd, as a predecessor-in-interest to Lessor, and the City of Fort Worth
as Lessee, entered into that certain Lease Agreement dated October 15, 2007 ("Lease") for the
Leased Premises located at 801 Grove Street, Fort Worth, Tarrant County, Texas;
WHEREAS, WTW Properties, Inc. ("WTW") became the owner of the Premises and the Lessor
effective January 8, 2009; and
WHEREAS, Lessor and Lessee desire to terminate that certain Lease Agreement.
Therefore; in consideration of these presents, WTW and the City of Fort Worth agree as follows:
1. Lessee agrees to vacate the Premises on or before July 31, 2012;
2. Provided Lessee has vacated the Leased Premises on or before July 31, 2012, Landlord agrees
to:
a. Waive, abate and forgive Lessee's Base Rent and Proportionate Share under the
Lease for the month of August, 2012 and thereafter; and
3. Provided Lessee has vacated the premises on or before July 31, 2012 and Lessor has complied
with 2 above, it is agreed that the Expiration Date of the lease shall be the end of the day on July
31, 2012 and the Lease shall be deemed amended to comport with this Agreement for all
purposes.
(SIGNATURES APPEAR ON NEXT PAGE)
OFFICIAL RECORD
CITY SECRETARY
FT.WORTH,TX
Page 1 of 2
Termination of Lease Agreement-WTW Properties,Inc.and City of Fort Worth
IN WITNESS WHEREOF, the undersigned have executed this Agreement effective as of the
date first written above.
LESSEE:
CITY OF FORT WORTH
By:
usan Tanis
s' t City Manager
WTW PROPERTIES, INC.
By:
Printed Name: Mark Gallagher
Title: Sr. Asset Portfolio Manager
APPROVED AS TO FORM AND LEGALITY:
Wit"' Y^l�
Tyler Wallach
Assistant City Attorney
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LEASE AGREEMENT:
M&C C-22416
Dated: September 25,2007
R
IAL RECORD SECRETARYWORTH,TX
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Termination of Lease Agreement-WTW Properties,Inc.and City of Fort Worth
Page 1 of 2
City of Fort Worth, Texas
•
Mayor and Council Communication
COUNCIL ACTION: Approved on 9/25/2007
DATE: Tuesday, September 25, 2007
LOG NAME: 8000WBOYSANTAS REFERENCE NO.: C-22416
SUBJECT:
Authorize the City Manager to Execute a 60 Month Lease Agreement with 801 Grove, Limited with a
Mandatory Sublease for $1.00 Per Year to the Cowboy Santas Toy Program for Office and
Warehouse Space
RECOMMENDATION:
It is recommended that the City Council authorize the City Manager to execute a 60 month Lease
Agreement with 801 Grove, Limited with a mandatory sublease for $1.00 per year to the Cowboy Santas
Toy Program for office and warehouse space.
DISCUSSION:
The purpose of this M&C is to authorize the lease and mandatory sublease of the property at 801 Grove
Street for use by the Cowboy Santas Toy Program. Funding for the lease is included in the FY 2006-07
Budget. For the past 25 years, the Cowboy Santas Toy Program has provided toys to low income families
during the holiday season. In recent years, the Cowboy Santas Toy Program has experienced tremendous
growth and now serves more than 10,000 children a year between the ages birth to twelve years. Because
of this growth, it has become necessary for the Cowboy Santas Toy Program to find a more permanent year
round facility for toy storage, distribution and program operations.
Staff recommends the leasing of 18,745 square feet of space located at the corner of 7th Street and Grove
Street, near the Intermodal Transportation Center. The space contains both office and warehouse area.
The lease agreement is for a period of 60 months with a base rent of $9,166.67 per month or $110,000
annually for the first year and a 3.5 percent increase for each of the 4 subsequent years. The City will be
responsible for rent, as well as water, sewer, electricity, and other utility charges on the property. The
Sublessee will be responsible for providing the Landlord with liability insurance. The Sublesse will pay the
City $1.00 per year to lease the premises.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that upon approval of the above recommendation, funds will be available in
the current operating budget, as appropriated, of the General Fund.
TO Fund/Account/Centers FROM Fund/AccountlCenters
GG01 537010 0800500 $110,000.00
Submitted for City Manag_ees Office b. Libby Watson (6183)
Originating Department Head: Richard Zavala (871-5704)
l,tt,n-//unxnv nfwnet nro/cnnncil nacket/Renorts/mc nrint.asn 10/16/2007
Page 2 of 2
Additional Information Contact: Anthony Meyers (871-5775)
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Mills, Stephanie
From: Duncan, Gail
Sent: Monday, October 01, 2012 1:43 PM
To: Mills, Stephanie
Subject: RE:Termination contract
The CSO contract no.is 35972.
dad-Duncan
Senior Administrative Assistant
City of Fort Worth
Parks&Community Services Department
4200 South Freeway,Suite 2200
Fort Worth,Texas 76115-1499
817/392-5730 Office
817/392-5776 Fax
817132o-8720 Mobile
The City of Fort Worth has a new web address effective Oct. 1,2011:www.FortWorthTexas.gov
From: Mills, Stephanie
Sent: Friday, September 28, 2012 3:58 PM
To: Duncan, Gail
Subject: Termination contract
Hello,
I received a termination agreement to terminate the lease with WTW Properties, Inc.
I need to know the original contract number that is being terminated before I can process this contract.
Thanks,
Stephanie Mills
Adminisrative Technician
City Secretary's Office
(817)392-6090
Stephanie.Mills@fortworthtexas.gov
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