HomeMy WebLinkAboutContract 31216 CITY SECRETARY
01 -21 -05A09 : 121 RCVD CONTRACT NO ,
LEASE AGREEMENT FOR OFFICE SPACE
TECH Fort Worth BUILDING
THIS LEASE AGREEMENT ("Lease") is entered into by and between City of Fort Worth p
("Lessor")and Flexible Innovations Ltd ("Lessee")-
In
"Lessee").In consideration of the mutual covenants, promises 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 460
square feet on the second floor(s) designated as Suite 205 in the building known as the "TECH Fort
Worth" ("Building) located at 1120 S. Freeway , Fort Worth, Texas and as
depicted on Exhibit "A", attached hereto and hereby made a part of this Leased and which is signed or initialed
by the parties for identification.
1.2 Buildinp,Name
Lessor shall have the right at any time and from time to time to change the Building Name.
2.TERM OF LEASE
Oct. 1 2004
The term of this Lease ("Initial Term") shall be a period of 7 months starting on and
expiring on May 1, 2005 ,unless terminated earlier as provided herein.
3.RENEWAL OF TERM
If Lessee performs and abides by all provisions and conditions of this Lease, upon the expiration of the
Initial Term of this lease, Lessee shall have 1 consecutive rights to renew this Lease for terms of 12
month each("Renewal Term") at the rental rate for comparable space at the Building, which on the effective date of
the Renewal Term complies with the then current Schedule of Rates and Charges published by the Lessor; provided
however, that if Lessee does not renew this Lease in writing for a Renewal Term, Lessee shall automatically waive
its right to renew this Lease. In order to exercise its right to renew this Lease, Lessee shall notify Lessor in writing
of its desire to renew this Lease no less than one hundred and twenty calendar days and no more than one hundred
and eighty calendar days prior to the expiration of the term then in effect.
4.Common Area
The "Common Area" of the Building as it shall exist from time to time shall be that part of the Building
designated by Lessor from time to time for the common use of all Lessees, including, but not limited to other
facilities, elevators, stairs, tunnels, halls, lobbies, deli every passages, drinking fountains, public toilets and the like,
all of which shall be subject to the Lessor's sole management 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
time, the dimensions and locations of the Common Area. Lessee and its employees and invitees shall have the
nonexclusive right to use the Common Areas with the Lessor, other Lessees of the Building and other persons
entitled to use the same. Use of the Common Area shall be subject to such reasonable rules and regulations
governing its use as the Lessor may from time to time prescribe. Lessee shall not solicit business or display
merchandise within the Common Area, distribute handbills therein or take any action that would interfere with the
rights of other persons to use the Common Area. Lessor may temporarily close any part of the Common Area for
such period to make repairs or alterations.
5.RENT r,
��Y L ..+^r•`Win,;:..
Guinn School Lease Agreement g
s
5.1 Base Rental Rate
As base rental for the lease and use of the Leased Area ("Base Rent"), Lessee will pay Lessor, at the
Building office, witho emand and withoutduction, abatement or sV f69xc htas otherwise expressly provided
for herein Paragraph or Paragraph , the sum of 1 V/ h per square
foot of the Leased Area of the Building per month payable monthly in advance on the first day of each calendar
month, for each and every month in the Term, in lawful money of the United States. If the Term does not
commence on the first day of a calendar month, Lessee will pay in advance a pro rata part of such sum as Base Rent
for such first partial month.
5.2 Operating Expense Rental Rate
In the event Operating Expenses(as hereinafter defined)of Lessor incurred 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 2001 Base Year Actual expenses, Lessee agrees to pay as additional rental Lessee's pro rata share("Lessee's Share")
as determined by Lessor of such Operating Expenses in excess of 2001 Base Year("Excess Operating Expenses")of the
Leased Area.
The term"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 maintenance of the Building,the Land on
which it is located and any areas adjacent to it, and the parking area and its surrounding area as well as amortization of any
capital expenditure which are incurred by Lessor to attempt to effect in the reduction of operating expenses of the building
or to keep the building in compliance with all governmental rules and regulations; provided,however,only the following
shall be excluded from Operating Expenses: cost of structural alterations. No decrease in Operating Expenses shall reduce
Lessee's rent below the sum set forth in Paragraph 5.1.
Lessee agrees,at Lessor's request,to pay Lessee's Share of Excess Operating Expenses for the ensuing twelve
(12)months,as estimated once a year 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 than the first day of a
calendar year,or if this Lease expires on other than the last day of a prorated according to the portion of the Term that
occurs during such calendar year. At least thizt�(40)days prior to the commencement of each calendar year during the
m
Ter ,commencing with the calendar year 11 VV , Lessor shall furnish Lessee a written statement setting forth the
estimated Lessee's Share for the following year and a statement showing one-twelfth (1/12)of the amount of the estimated
Lessee's Share. If,as finally determined, Lessee's Share shall be greater than or less than the aggregate of all installments
so paid to the Lessor for such twelve(12) month period,then Lessee shall pay to Lessor the amount of such underpayment
within thirty(30)days of delivery of such statement,or the Lessor shall credit Lessee for the amount of such overpayment,
as the case may be.
All Excess Operating Expenses shall be paid by Lessee in the proportion which Lessee's Rentable Area bears to
ninety-five percent (95%)of the total Rentable Area in the Building or to the total Rentable Area leased in the Building(if
such total is greater than ninety-five percent [95%]of the total Building area).
5.3 Rent
For all purposes under this Lease,"Rent"shall mean the Base Rent and Operating Expense Rental (including any
additional rent and any adjustments to rent as provided in this Lease). All past due installments of Rent shall bear interest
at the highest non-usurious rate chargeable by Lessor to Lessee from such date due until paid. Unless changed in
accordance with Texas law,the applicable method of calculating the usury rate ceiling under Texas law shall be the
indicated(weekly)rate ceiling, from time to time in effect,as provided in Tex. Rev. Civ.Stat. Ann. Art. 5069-1.04,as
amended.
6.Taxes
For any calendar year or portion thereof within the term of this lease or any renewal or extension thereof, Lessee
shall promptly pay when due any and all ad valorem taxes lawfully levied on its leaseholder possessory interest being on
that part of the Leased Area and any improvements theron and any tax lawfully levied on Lessee's occupancy or use
thereof,except the amount of any such tax which was imposed for any period of time preceding the effective date of this
lease. Lessee shall have the right to contest in good faith any taxes,and in the event of such contest,shall indemnify and
hold harmless Lessor from any cost,expenses,penalties or damages in connection therewith.
Page 2
Guinn School Lease Agreement
7.SECURITY DEPOSIT
Upon execution of this Lease, Lessee will remit to Lessor a main tenance/damage deposit ("Deposit") equivalent to
one month's rent. Thereafter, Lessee shall, at a minimum, maintain its Deposit in an amount that is equivalent to its current
monthly rental amount for the Leased Area. However, Lessor may increase the amount of the Deposit to a reasonable sum in
excess of one month's rent. Lessee's failure to maintain its Deposit as required shall constitute a breach of this Lease. Lessee's
Deposit shall be in the form of a cash payment. Lessee will not be entitled to any interest on this Deposit. Unless Lessor
terminates this Lease for any breach,default or failure by Lessee,Lessor will refund any unused portion of this Deposit within
thirty(30) days following the date that Lessee vacates the Leased Area. Lessee acknowledges that if Lessor terminates this
Lease for any breach,default or failure by Lessee, Lessee shall forfeit the entire balance of its Deposit.
8. USE
Lessee agrees to use the Leased Area solely for the purposes of office space. The permitted use shall be office
use. Lessee shall use the Leased Area for no other purpose without the prior written consent of the Lessor.
9.MAINTENANCE.REPAIRS AND CONDITION OF AREA.
9.1. General Maintenance and Repairs by Lessee.
Lessee agrees to keep and maintain the Leased Area, including all fixtures installed in a good, clean and sanitary
condition at all times. Lessee covenants and agrees that it will not make or suffer any waste of the Leased Area. Lessee will,at
Lessee's own expense, make all repairs necessary to prevent the deterioration in condition or value of the Leased Area,
including,but not limited to,the maintenance of and repairs to doors,windows,roofs,walls and floors,except those caused by
fire or other casualty covered by insurance on the Building under policies naming Lessor as the insured, all at Lessee's
sole expense, under the supervision and with the approval of Lessor. Lessee shall be responsible for all damages caused by
Lessee, its agents, servants, employees, contractors, subcontractors, licensees or invitees, and Lessee agrees to fully repair or
otherwise cure all such damages at Lessee's sole cost and expense.
Lessee agrees that, except as otherwise expressly provided herein, all improvements, n-ade fixtures, furnishings,
equipment and other personal property of every kind or 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 may be caused by the bursting, overflowing or leaking of
sewer or steam pipes, or from water from any source whatsoever, or from any heating fixtures, plumbing fixtures, elecmc
wires,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 same
condition in which they existed at the commencement of the Lease,excepting only ordinary wear and tear and damage
arising from any cause required hereunder to be repaired at Lessor's expense.
9.2. Inspection.
Lessor shall have the right and privilege,through its officers, agents, servants or employees, to inspect the
Leased Area at any time. Lessor shall have the right to perform any and all duties or obligations which Lessor is
authorized 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 Area at any time, and Lessee will comply with all recommendations
made to Lessee by the Fire Marshal or authorized designee to bring the Leased Area into compliance with Fire Code
and Building Code provisions,as such provisions exist or may hereafter be added or amended. Lessee shall maintain
in a proper condition accessible fire extinguishers of a number and type approved by Fire Underwriters for the
particular hazard involved. Lessor shall provide Lessee with advance notice of inspection when reasonable under the
circumstances.
9.3. Performance.
If Lessee is responsible under this Lease for any maintenance or repairs, Lessor shall notify Lessee in
writing. Lessee agrees to undertake such maintenance or repair work diligently within thirty(30) calendar days of
receipt of such notice. If Lessee fails to undertake the recommended maintenance or repairs within this time, Lessor
Page 3 t t=•' ;
Guinn School Lease Agreement `:ftp'-'• -- •'•? - - - -
..L. .. -
may, in its discretion,perform such maintenance or repairs on behalf of Lessee. In this event, Lessee will reimburse
Lessor for the cost of the maintenance or repairs, and such reimbursement will be due on the date of Lessee's next
monthly rent payment following completion of the maintenance or repairs.
9.4. Environmental Remediation.
To the best of Lessor's knowledge, the Leased Area complies with all applicable federal, state and local
environmental laws and regulations (collectively "Environmental Laws"). Lessee has thoroughly inspected the
Leased Area and is fully advised of its own rights without reliance upon any representation made by Lessor
concerning the environmental condition of the Leased Area. LESSEE COVENANTS AND AGREES THAT
LESSEE,.A TITS SOLE COST AND EXPENSE,SHALL BE FULL YRESPONSIBLE FOR THE VIOLATION
OF ANY ENVIRONMENTAL LAWS CAUSED, IN WHOLE OR IN PART, BY LESSEE, ITS OFFICERS,
AGENTS,SERVANTS,EMPLOYEES, CONTRACTORS,SUBCONTRACTORS OR INVITEES.
9.5. Lessee's Acceptance of the Leased Area,
Excepting"Punch List" items of which Lessee shall report to Lessor in writing within thirty (30) days
after the commencement date hereunder, Lessee acknowledges that it has inspected the Leased Area and
Lessee's taking 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 improve the Leased Area or the Building and no other representation
respecting the condition of the Leased Area or the Building have been made by Lessor to Lessee..
10.0 OBLIGATIONS OF LESSOR
10.1 Services Furnished
Subject to the rules and regulations to which reference is hereinafter made, Lessor shall furnish Lessee,at
Lessor's expense,except as provided in Paragraph 5.3.above,the following services during the Term:
(1) Air conditioning and heating in season,at such times as Lessor normally furnishes these
services to other Lessees in the Building and at such temperatures and in such amounts as are
considered by Lessor to be standard, but such service outside normal business hours and on
Saturdays,Sundays and holidays shall be furnished only at Lessor's discretion and in any
event only upon twenty-four(24)hours prior written request by Lessee,who shall bear the
standard charges of Lessor therefore,which shall never be less than the cost thereof.
(2) Hot and cold water at 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 additional costs
attributable to the cleaning of improvements within the Leased Area other than building
standard improvements.
(4) Elevators for ingress to and egress from the Building during such periods as are considered by
Lessor to be standard.
(5) Proper building standard facilities to furnish sufficient electrical power for standard lighting,
typewriters,dictating equipment,calculating machines and other machines of similar low
electrical consumption,but not including electricity required for electronic data processing
equipment,special lighting in excess of building standard,or any other item of electncal
equipment which singly consumes more than 0.25 kilowatts per hour at rated capacity or
requires a voltage other than 120 volts single phase. Lessee shall pay to Lessor, monthly as
billed,such charges as may be separately metered or as Lessor's engineer 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 fixtures installed by
Lessor and 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 and 8:00 a.m. to 1:00 p.m.on Saturdays,except holidays.
1 1.2 No Eviction or Breach
Guinn School Lease Agreement ey �'^,
No interruption, moratorium or malfunction of any services or failure of any machinery or equipment to operate
for any cause whatsoever shall constitute an eviction or disturbance of Lessee's use and possession of the Leased Area or
Building or a breach by Lessor of any of its obligations hereunder or render Lessor liable for damages or entitle Lessee to
be relieved from any of its obligations hereunder(including the obligation to pay Rent)or grant Lessee any right of setoff
or recoupment. In the event of any such interruption,however,Lessor shall use reasonable diligence during normal
business hours to restore such service in any circumstances in which such restoration is within reasonable control of
Lessor and the interruption was not caused by Lessee's fault.Notwithstanding the foregoing,should an interruption of
service for more than five (5)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 unleaseable.
11.3 Additional Services
Should Lessee desire any additional services beyond those described in Paragraph 1 1.1 or rendition of any of
such services outside the normal times of Lessor for providing such services, Lessor may(at Lessor's option),upon
reasonable advance notice from Lessee to Lessor,furnish such services and Lessee agrees to pay Lessor such charges as
may be agreed 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 requiring abnormal use of
water or electricity used as a power source for data processing machines,including air conditioning costs therefore, large
business machines and similar equipment of high electrical consumption characteristics 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 sole expense,separate meters for measuring units of consumption to be installed within the Leased Area if
defined services consumed by Lessee are not standard.
12. ADDITIONS ANDFIXTURES
12.1 Approval Required
Lessee will make no alteration,change, improvement,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 work in such connection shall be at Lessee's expense but by workmen of Lessor or workmen and
contractors approved in advance in writing by Lessor and in a manner and upon terms and conditions and at times
satisfactory to and approved in advance in writing by Lessor. In any instance in which Lessor grants such consent, Lessor
may grant such consent contingent and conditioned upon Lessee's contractors, laborers, materialmen and others furnishing
labor material for Lessee's job working in harmony and not interfering with any labor utilized by Lessor; Lessor's
contractors or mechanics or by any other Lessee or such other Lessee's contractors or mechanics;and if at any time such
entry by one or more persons furnishing labor or materials for Lessee's work shall cause disharmony or interference,the
consent granted by Lessor to Lessee may be withdrawn upon forty-eight(48)hours written notice to Lessee.
12.2 Removal of Items
Lessee may remove its trade fixtures,office supplies and movable office furniture and equipment not attached to
the Building provided: (1)such removal is made 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) Lessee promptly repairs all damage caused by
such removal. All other property at the Leased Area and any alteration or addition to the Leased Area(including wall-to-
wall carpeting,paneling or other wall covering)and any other article attached or affixed to the Floor,wall or ceiling of the
Leased Area(any of which as stated above shall require Lessor's prior written consent)shall become the property of
Lessor and shall remain upon and be surrendered with the Leased Area as part thereof at the termination of this Lease,
Lessee hereby waiving all rights to any payment or compensation therefore. If, however, Lessor so requests in writing,
Lessee will, prior to termination of this Lease,remove any and all alterations,additions,fixtures,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.
12. ADDITIONAL OBLIGATIONS AND AGREEMENTS OF LESSEE.
12.1 The Lessee shall not exhibit,sell or offer for sale on the Leased Area or in the Building any article or thing(except
those articles and things essentially connected with the stated use of the Leased Area by the Lessee)without the
advance consent of Lessor.
Page 5 `Vf �t��l �
Guinn School Lease Agreement �, -,� -_,•
12.2 The Lessee shall not display, inscribe,print,paint,maintain or affix on any place in or about the Building any
sign,notice, legend,direction, figure or advertisement,except on the doors of the Leased Area and on the
Building directory and then only such name(s)and matter and in such color,size,style,place and materials as
shall first 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,shall not operate to vest any right or 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.
12.3 The Lessee shall not advertise the business, profession or activities of the Lessee conducted in the Building in
any manner which violates the letter or spirit of any code of ethics adopted by any recognized association or
organization pertaining to such business, profession or activities and shall not use the name of the Building for
any purposes other than that of the business address of the Lessee and shall never use any picture or likeness of
the Building in circulars,notices, advertisements or correspondence without the Lessor's consent.
12.4 No additional locks or similar 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 made. If more than two keys for
one lock are desired,the Lessor will provide the same upon payment by the Lessee. All keys must be returned to
the Lessor at the expiration or ten nination of this Lease.
12.5 All persons entering or leaving the Building after hours on Monday through Friday,or at any time on Saturdays,
Sundays or holidays, may be required to do so under such regulations as the Lessor may impose. The Lessor
may exclude or expel any peddler.
12.6 The Lessee shall not overload any floor. The Lessor may direct the time and manner of delivery, routing and
removal and the location of safes and other heavy articles.
12.7 Unless the Lessor gives advance written consent,the Lessee shall not install or operate any steam or internal
combustion engine,boiler,machinery,refrigerating or heating device or air-conditioning apparatus in or about
the Leased Area or carry on any mechanical business therein or use the Leased Area for housing
accommodations or lodging or sleeping purposes,or do any cooking therein or use any illumination other than
electric light or use or permit to be brought into the Building any inflammable fluids such as gasoline, kerosene,
naphtha and benzine or any explosive,radioactive materials or other articles deemed extra hazardous to life, limb
or property. The Lessee shall not use the Leased Area for any illegal or immoral purposes.
12.8 The Lessee shall cooperate fully with the Lessor to assure the effective operation of the Building's air-
conditioning system, including the closing of Venetian blinds and drapes.
12.9 The sidewalks, halls, passages,exits,entrances,elevators and stairways shall not be obstructed by the Lessee or
used for any purpose other than for ingress to or egress from its Leased Area. The halls,passages,exits,
entrances elevators,stairways and roof are not for the use of the general public and the Lessor shall in all cases
retain the right to control and prevent access thereto by all persons whose presence,in the judgment of the
Lessor,shall be prejudicial to the 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.
12.10 Lessee shall not use, keep or permit to be used or kept any foul or noxious gas or substance in the Leased Area,
or permit or suffer the Leased Area to be occupied or used in a manner offensive or objectionable to the Lessor
or other occupants of the Building by reason of noise,odors and/or vibrations,or interfere in any way with other
Lessees or those having business there,nor shall any animals or birds be brought in or kept in or about the
Leased Area or the Building.
12.11 Lessee shall see that the doors and windows,if operable,of the Leased Area are closed and securely locked
before leaving the Building and must observe strict care and caution that all water faucets or water apparatus are
entirely shut off before Lessee or Lessee's employees leave the Building 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 all
injuries or losses sustained by other Lessees or occupants of the Building or Lessor.
Page 6
Guinn School Lease Agreement
In addition to all other liabilities for breach of any covenant of this Section, the Lessee shall pay to the Lessor an amount
equal to any increase in insurance premiums payable by the Lessor or any other Lessee in the Building, caused by such
breach.
13. INSURANCE.
13.1. Types of Coverage and Limits.
Lessee shall procure and maintain at all times, in full force and effect, a policy or policies of insurance as
specified in this Section 13, naming the City of Fort Worth as an additional insured and covering all risks related to
the leasing, use, occupancy, maintenance, existence or location of the Area. Lessee shall obtain the following
insurance coverage on an occurrence basis and at the limits specified herein:
• Property
Fire and Extended Coverage on all improvements at full replacement cost limit;
13.2. Adjustments to Required Coverage and Limits.
Insurance requirements, including additional types and limits of coverage and increased limits on existing
coverages, are subject to change at Lessor's option,and Lessee will accordingly comply with such new requirements
within thirty(30)days following notice to Lessee.
13.3. Certificates.
As a condition precedent to the effectiveness of this Lease, Lessee shall furnish Lessor with appropriate
certificates of insurance signed by the respective insurance companies as proof that it has obtained the types and
amounts of insurance coverage required herein. Lessee hereby covenants and agrees that not less than thirty (30)
days prior to the expiration of any insurance policy required hereunder,it shall provide Lessor with a new or renewal
certificate of insurance. In addition, Lessee shall, on demand, provide Lessor with evidence that it has maintained
such coverage in full force and effect.
13.4. Additional Requirements.
Lessee shall maintain its insurance with underwriters authorized to do business in the State of Texas and
which are satisfactory to Lessor. The policy or policies of insurance shall be endorsed to cover all of Lessee's
operations and to provide that no material changes in coverage, including, but not limited to, cancellation,
termination,non-renewal or amendment,shall be made without thirty(30)days'prior written notice to Lessor.
13. FIRE OR OTHER CASUALTY
If at any time during the Term,the Leased Area or any portion of the Building or Common Area(as hereinafter defined)
shall be damaged or destroyed by fire or other casualty,then Lessor shal I have the election to terminate this Lease within
120 days from the occurrence of such casualty or to repair and reconstruct the Common Area,the Leased Area and
Building to substantially the same condition in which they existed immediately prior to such damage or destruction,except
that Lessor shall not be required to repair or reconstruct 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 aforesaid circumstances,Rent shall abate proportionally during the period and to the extent that the Leased
Area are unfit for use by Lessee in the ordinary conduct of its business. If Lessor has elected to repair and restore the
Leased Area to the extent stated above,this Lease shall continue in full force and effect and such repairs wil I be made
within a reasonable time thereafter(not to exceed six months)subject to delays arising from shortages of labor or
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 prepaid Rent(unaccrued as of the date of damage or destruction)plus Lessee's security deposit
provided Lessee is in compliance with Paragraph 7 hereunder less any sum owing Lessor by Lessee. If Les
Pagel ;
Guinn School Lease Agreement
to repaid 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 of such repaid and reconstruction.
Notwithstanding the provisions of Subparagraphs A. and B.of this Paragraph 10, if the Leased Area or any other portion
of the Building be damaged by fire or other casualty resulting from the fault or negligence of Lessee or any of Lessee's
agents,employees,contractors, licensees or invitees, the Rent hereunder shall not be diminished during the repair of such
damage and Lessee shall be liable to Lessor for the cost and expense of the repair and restoration of the Leased Area or the
Building caused thereby to the extent such cost and expense is not covered by insurance proceeds.
14. INDEMNIFICATION.
LESSEE HEREBY ASSUMES ALL LIABILITY AND RESPONSIBILITY FOR PROPERTY LOSS,
PROPERTY DAMAGE AND/OR PERSONAL INJURY OF ANY KIND, INCLUDING DEATH, TO ANY AND ALL
PERSONS, OF ANY KIND OR CHARACTER, WHETHER REAL OR ASSERTED, ARISING OUT OF OR IN
CONNECTION WITH ITS USE UNDER THIS LEASE OR WITH THE LEASING, MAINTENANCE, USE,
OCCUPANCY, EXISTENCE OR LOCATION OF THE AREA, EXCEPT TO THE EXTENT CAUSED BY THE
NEGLIGENT ACTS OR OMISSIONS OR INTENTIONAL MISCONDUCT OF LESSOR.
LESSEE COVENANTS AND AGREES TO,AND DOES HEREBY, INDEMNIFY, HOLD HARMLESS AND
DEFEND LESSOR, ITS OFFICERS, AGENTS, SERVANTS AND EMPLOYEES, FROM AND AGAINST ANY AND
ALL CLAIMS OR LAWSUITS FOR EITHER PROPERTY DAMAGE OR LOSS(INCLUDING ALLEGED DAMAGE
OR LOSS TO LESSEE'S BUSINESS AND ANY RESULTING LOST PROFITS) AND/OR PERSONAL INJURY,
INCLUDING DEATH, TO ANY AND ALL PERSONS, OF ANY KIND OR CHARACTER, WHETHER REAL OR
ASSERTED, ARISING OUT OF OR IN CONNECTION WITH THIS LEASE OR WITH THE LEASING,
MAINTENANCE, USE, OCCUPANCY, EXISTENCE OR LOCATION OF THE AREA, EXCEPT TO THE EXTENT
CAUSED BY THE NEGLIGENT ACTS OR OMISSIONS OR INTENTIONAL MISCONDUCT OF LESSOR.
LESSEE ASSUMES ALL RESPONSIBILITY AND AGREES TO PAY LESSOR FOR ANYAND ALL INJURY
OR DAMAGE TO LESSOR'S PROPERTY WHICH ARISES OUT OF OR IN CONNECTION WITH ANY AND ALL
ACTS OR OMISSIONS OF LESSEE, ITS OFFICERS, AGENTS, EMPLOYEES, CONTRACTORS,
SUBCONTRACTORS, LICENSEES, INVITEES, PATRONS OR TRESPASSERS, EXCEPT TO THE EXTENT
CAUSED B Y THE NEGLIGENT ACTS OR OMISSIONS OR INTENTIONAL MISCONDUCT OF LESSOR.
LESSOR DOES NOT GUARANTEE POLICE PROTECTION TO LESSEE OR ITS PROPERTY. LESSOR
SHALL NOT BE RESPONSIBLE FOR INJURY TO ANY PERSON ON THE AREA OR FOR HARM TO ANY
PROPERTY WHICH BELONGS TO LESSEE, ITS OFFICERS, AGENTS, SERVANTS, EMPLOYEES,
CONTRACTORS, SUBCONTRACTORS, LICENSEES, INVITEES OR PATRONS, AND WHICH MAY BE STOLEN,
DESTROYED OR IN ANY WAY DAMAGED; AND LESSEE HEREBY INDEMNIFIES AND HOLDS HARMLESS
LESSOR, ITS OFFICERS, AGENTS,SERVANTS AND EMPLOYEES FROM AND AGAINST ANYAND ALL SUCH
CLAIMS, EXCEPT TO THE EXTENT CAUSED BY THE NEGLIGENT ACTS OR OMISSIONS OR INTENTIONAL
MISCONDUCT OF LESSOR.
15. ASSIGNMENT AND SUBLETTING.
15.1. in General.
Lessee shall not assign,sell,convey, sublease or transfer any of its rights, privileges, duties or interests
granted by this Lease without the advance written consent of Lessor.
15.2. Conditions of Approved Assignments and Subleases.
If Lessor consents to any assignment or sublease, all terms, covenants and agreements set forth in this
Lease shall apply to the assignee or sublessee, and such assignee or sublessee shall be bound by the terms and
conditions of this Lease the same 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,fees and other charges.
Page 8
Guinn School Lease Agreement
16. DEFAULT AND REMEDIES
A. Each of the following acts or omissions of Lessee or occurrences shall constitute an "Event of Default:"
(1) Failure or refusal by Lessee to timely pay Rent or other payments hereunder.
(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 period often(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.
(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 assignment for the benefit of
creditors or composition;or a petition or other proceeding by or 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 governmental authority for the dissolution or
liquidation of Lessee.
B. 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 Default shall occur, Lessor may,at its
option, in addition to all other rights and remedies given hereunder or by law or equity, do any one or
more of the following:
(1) Terminate this Lease, in which event Lessee shall immediately 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 at the Leased Area.
C. Exercise by Lessor of any one or more remedies hereunder granted or otherwise 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 being understood that such surrender can be effected only by the
written agreement of Lessor and Lessee. No such alteration of security devices and no removal or other
exercise of dominion 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 dominion over Lessee's property within the Building. All claims for
damages by reason of such re-entry and/or repossession and/or alteration of locks or other security
devices are hereby waived,as are all claims for damages by reason of any distress warrant, forcible
detainer 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 without the necessity for any legal proceedings, as Lessor may elect,and Lessor shall
not be liable in trespass or otherwise.
D. 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 Rent reserved hereunder for the remaining portion of the Term(had such Term
not been terminated by Lessor prior to the date of expiration stated in Paragraph 2)using a market
present value discount factor to calculate the same.
In the event Lessor elects to terminate the Lease by reason of an Event of Default, in lieu of
exercising the rights of Lessor under the preceding paragraph, Lessor may instead hol1-110see Al a 9@F
2 I
Guinn School Lease Agreement
all Rent and other indebtedness accrued to the date of such termination, plus such Rent and other
indebtedness as would otherwise have been required to be paid by Lessee to Lessor during the period
following termination of the Term measured from the date of such termination by Lessor until the date
of expiration stated in Paragraph 2 (had Lessor not elected to terminate the Lease on account of such
Event of Default)diminished by any net sums thereafter received by Lessor through reletting the
Leased Area during said period(after deducting expenses incurred by Lessor as provided in
Subparagraph F hereof). Actions to collect amounts due by Lessee provided for in this Paragraph 16
may be brought from time to time by Lessor during the aforesaid period,on one 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 reletting over and above the
Rent provided for in this Lease.
E. 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 Fort Worth,Tarrant County, Texas,all Rent and
other indebtedness accrued to the date of 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 stated in Paragraph
2,diminished by any net sums thereafter received by Lessor through reletting the Leased Area during
said period (after deducting expenses incurred by Lessor as provided in Subparagraph F hereof). In no
event shall Lessee be entitled to any Rent herein reserved. Actions to collect amounts due by Lessee as
provided in this Paragraph 16.E.may be brought from time to time, on one or more occasions,without
the necessity of Lessor's waiting until expiration of the Term.
F. In the case of an Event of Default,Lessee shall also be liable for and shal I pay to Lessor,at
Fort Worth,Tarrant County,Texas,in addition to any sum provided to be paid above: Broker's fees
incurred by Lessor in connection with reletting 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, remodeling
or otherwise putting the Leased Area into condition acceptable to a new Lessee or Lessees; and all
expenses incurred by Lessor in enforcing Lessor's remedies, including reasonable attorneys' fees. Past
due Rent and other past due payments shall bear interest from maturity until paid at the highest non-
usurious rate chargeable by Lessor to Lessee,calculated as set forth in Paragraphs 5. hereof.
G. In the event of termination or repossession of the Leased Area for an Event of Default,
Lessor shall not have any obligation to relet or attempt to relet the Leased Area,or any portion thereof,
or to collect Rent after reletting; but Lessor shall have the option to relet or attempt to relet; and in the
event of reletting, Lessor may relet the whole or any portion of the Leased Area for any period,to any
Lessee and for any use and purpose.
H. if Lessee should fail to make payment or cure any Event of Default hereunder within the
time herein permitted, Lessor, without being under any obligation to do so and without thereby waiving
such default, may make such payment and/or remedy such other Event of Default for the account of
Lessee (and enter the Leased Area for such purpose)and thereupon Lessee shall be obligated to,and
hereby agrees to,pay Lessor, upon demand, as additional Rent hereunder,all costs,expenses and
disbursements(including reasonable attorneys' fees)incurred by Lessor in taking such remedial action.
I. In the event of any default by Lessor, Lessee's exclusive remedy shall be an action for
damages (Lessee hereby waiving the benefit of any laws granting the right to terminate this Lease, to a
lien upon the property of Lessor and/or upon Rent due Lessor), but prior to any such action Lessee will
give Lessor written notices specifying such default with particularity and Lessor shall thereupon have
thirty(30)days(plus such additional reasonable period as may be required in the exercise by Lessor of
due diligence) in which to cure any such default. Unless and until Lessor fails to so cure any default
after such notice,Lessee shall not have any remedy or cause of action by reason thereof. All obligations
of Lessor 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 thereafter. Lessor
shall have no corporate liability for the performance of any obligations hereunder,recourse by any
party for default against Lessor being limited to Lessor's interest in the Building.
The term"Lessor"shall mean only the owner of the Building at the date of commencement of
the Term, and in the event of the transfer by such owner of its interest in the Building,such owner shall
thereupon be released and discharged from all covenants and obligations of the Lessor
Page 10 t�.IF16-1'`1
- 2 r, trl� iy�� f-►�
Guinn School Lease Agreement �Tj ,a
accruing,but such covenants and obligations shall be binding dunng the Term upon each new owner
for the duration of such owner's ownership.
17. LIENS.
17.1. Liens by Lessee.
Lessee acknowledges that it has no authority to engage in any act or to make any contract
which may create or be the foundation for any lien upon the property or interest in the property of
Lessor. If any such purported lien is created or filed, Lessee,at its sole cost and expense,shall liquidate
and discharge the same within thirty(30)days of such creation or filing. Lessee's failure to discharge
any such 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 and discharge such lien
shall continue in effect following termination of this Lease and until such a time as the lien is
discharged.
17.2 Lessor's Lien.
IN ADDITION TO ANY APPLICABLE STATUTORY LESSOR'S LIEN, LESSEE GRANTS TO
LESSOR, IN ORDER TO SECURE PERFORMANCE BY LESSEE OF ITS OBLIGATIONS UNDER THIS
LEASE, A SECURITY INTEREST IN ALL GOODS, INVENTORY, EQUIPMENT, FIXTURES,
FURNITURE, IMPROVEMENTS, CHATTEL PAPER, ACCOUNTS AND GENERAL INTANGIBLES,
AND OTHER PERSONAL PROPERTY OF LESSEE NOW OR HEREAFTER SITUATED ON OR IN THE
AREA OR OTHERWISE RELATING TO LESSEE'S USE OF THE AREA, AND ALL PROCEEDS
THEREFROM(THE "COLLATERAL'). IF LESSOR TERMINATES THIS LEASE FOR A FAIL URE BY
LESSEE TO PAY LESSOR RENT OR FOR ANY OTHER BREACH OR DEFAULT BYLESSEE,LESSOR
MAY, IN ADDITION TO ALL OTHER REMEDIES, WITHOUT NOTICE OR DEMAND EXCEPT AS
PROVIDED BELOW, EXERCISE THE RIGHTS AFFORDED A SECURED PARTY UNDER THE TEXAS
UNIFORM COMMERCIAL CODE ("UCC"). IN CONNECTION WITH ANY PUBLIC OR PRIVATE
SALE UNDER THE UCC, LESSOR SHALL GIVE LESSEE FIVE CALENDAR DAYS'PRIOR iVRITTEN
NOTICE OF THE TIME AND PLACE OF ANY PUBLIC SALE OF THE COLLATERAL OR OF THE
TIME AFTER WHICH ANY PRIVATE SALE OR OTHER INTENDED DISPOSITION THEREOF IS TO
BE MADE, WHICH IS AGREED TO BEA REASONABLE NOTICE OF SUCH SALE OR DISPOSITION.
13. COMPLIANCE WITH LAWS.ORDINANCES,RULES AND REGULATIONS.
Lessee covenants and agrees that it shall not engage in any unlawful use of the Area. Lessee further agrees that it
shall not permit its officers, agents,servants,employees,contractors,subcontractors,patrons, licensees or invitees to engage in
any unlawful use of the Area and Lessee immediately shall remove from the Area any person engaging in such unlawful
activities. Unlawful use of the Area by Lessee itself shall constitute an immediate breach of this Lease.
Lessee agrees to comply with all federal,state and local laws;all ordinances,rules and regulations of the City of Fon
Worth and the City of Fort Worth Police, Fire and Health Departments. If Lessor notifies Lessee or any of its officers,agents,
employees, contractors, subcontractors, licensees or invitees of any violation of such laws, ordinances, rules or regulations.
Lessee shall immediately desist from and correct the violation.
19. NON-DISCRIMINATION COVENANT.
Lessee, for itself, its personal representatives, successors in interest and assigns, as part of the consideration herein,
agrees as a covenant running with the land that no person shall be excluded from participation in or denied the benefits of
Lessee's use of the Area on the basis of race,color,national origin,religion,handicap,sex,sexual onentation or familial status.
Lessee further agrees for itself,its personal representatives,successors in interest and assigns that no person shall be excluded
from the provision of any services on or in the construction of any improvements or alterations to the Area on grounds of race,
color,national origin,religion,handicap,sex,sexual orientation or familial status.
Page I I
Guinn School Lease Agreement
Lessee agrees to furnish its accommodations and to price its goods and services on a fair and equal basis to all
persons.
If any claim arises frons air alleged violation of this non-discrimination covenant by Lessee, its personal
representatives,successors in interest or assigns,Lessee agrees to indemnify Lessor and hold Lessor harmless.
20. LICENSES AND PERMITS.
Lessee shall, at its sole expense, obtain and keep in effect all licenses and permits necessary for the operation of its
business.
21. NO WAIVER.
The failure of Lessor to insist upon the performance of any term or provision of this Lease or to exercise any right
granted herein shall not constitute a waiver of Lessor's right to insist upon appropriate performance or to assert any such right
on any future occasion.
22. VENUE AND JURISDICTION.
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 located in Tarrant County, Texas or the United States
District Court for the Northern District of Texas, Fort Worth Division, This Lease shall be construed in accordance with the
laws of the State of Texas.
23. ATTORNEYS' FEES.
In any action brought by Lessor or Lessee for the enforcement of the obligations of the other party under this Lease,
the prevailing party shall be entitled to recover from the other parry reasonable attorneys'fees arising from such action.
24. SEVERABILITY.
If any provision of this Lease shall be held to be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired.
25. FORCE 11AJEURE.
Lessor and Lessee shall exercise every reasonable effort to meet their respective obligations as set forth in this Lease.
but shall not be held liable for any delay in or omission of performance 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 of omission, fires, strikes, lockouts, national disasters, wars, riots, material or labor restrictions by any govemmental
authority,transportation problems and/or any other cause beyond the reasonable control of the parties.
26. HEADINGS NOT CONTROLLING.
Headings and titles used in this Lease are for reference purposes only and shall not be deemed a part of this Lease.
27. ENTIRETY OF AGREEMENT.
This written instrument, including any documents incorporated herein by reference,contains the entire understanding
and agreement between Lessor and Lessee,its assigns and successors in interest,as to the matters contained herein. Any prior
or contemporaneous oral or written agreement is hereby declared null and void to the extent in conflict with any provisions of
this Lease. The terms and conditions of this Lease shall not be amended unless agreed to in writing
and signed by both parties.
IN WITNESS WHEREOF,the parties hereto have executed this Lease in multiples this
Page 12
Guinn School Lease Agreement
day ofd"'�' 200 7.
[SIGNATURES FOLLOW]
LESSOR LESSEE
LCA>o,r_C< C�`fl
BY: B ��-ti-vvrn,f `a7 c �Pnra- t �iy,�
Y�
Lhre, I-i55e e lis G&v��r,` LPAN-r-V�-f\
Page 13
Guinn School Lease Agreement _
ATTEST:
Marty Hendrix
City Secretary
APPROVED AS TO FORM AND LEGALITY:
City Atto ey, or His Designee
M & C Number: L-13762
Contract Number: Qq
r
STATE OF TEXAS §
COUNTY OF TARRA NT §
BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day
personally appeared&, d 41k1li .t known to me to be the person whose name is subscribed to the foregoing
instrument, and acknowledged to me that the same was the act of and
that he executed the same as the act of for the purposes and
consideration therein expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE thi day of 200Y
y do
}=omlk LORENE COLLIER
•I Notary Puhllc,State of Texas
AV Notary blit in and ort State of Texas
+ oFr • My Comrnlsslon Explres 03.23.08
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas. on this day
personally appeared known to me to be the person whose name is Subscribed the
foregoing insmtment, and acknowledged to me that the same was the act of the Wo
and that he executed the same as the act of the for the purposeg and consideration therein
expressed and in the capacity therein stated. l
,rLL�
GIVEN UNDER MY HAND AND SEAL OF OFFICE this (W lay of ,200.5
Eo ' OSELLA BARNES
Notary Public in and for the State of Texas
NOTARY PUBLICState of Texasm, Exp.03-31-2005
Page 14 �ffi'v�a:�
Guinn School Lease Agreement
a
IN
d
!i N li �i ,\.i N °i °
,I ,.I.,I.I"I,.I .\I.I.,I•I ., m
I••I',I',r',.I;I �I ,1'.I�,I r',
U-
I%i' 1'�j.
W
Q
C7 w
o ,o z
W N N x LL
w m W0. 2
_ r •� O. 3 W w F•
m 0
N f� IF Lo
O h
ly N LV fn Q
N O - N O-c0
N N N _K
�.. L,I �I I �I�I �- 1 .I •) ,j •I •I ,I •I . I ,I ,� . I �I � ,I � I �I �1
LL)
N o
En
z �
Y
< m
Q
IL
LL0
O
N O z
H F
Q O
W o w O U
J z p
W 0
wp vi
Li w
LL pNC J
z Q L 2
N H r
F
O z w O 0
LL SD Z N w
Y �
Q
Q z 4
a O —�
p
Q
O
a_ O
Q .
Q
z - a
U
w .
ACORQ CERTIFICATE OF LIABILITY INSURANCE 11/4/20DATE(4/20 l4
04
Pmwm F"w nw AMNCT-FK THl5 CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY
P O BCK 33528 AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER-THIS
FORT WORTH, TZ 76162 CERTIFICATE DOES NOT AMEND, EXTEND OR ALTER THE
(8681 661-3938 COVERAGE AFFORDED BY THE POLICIES BELOW.
9vi69 7D0 INSURERS AFFORDING COVERAGE
rLaXIBLE It1POVATiOP.4 LTD rNSURER a Tho Travelers Uuyds lrsurowe Company
PO BOX 101029 INV KER a The Travelers Indemnity Company O/Connecticut
POW WORTH, Ta 76185 INS1RER C Nla
W-SLW R 0: N/a
INSURER E--
COVERAGES COVERAGES
THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED.NOTWITHSTANDING
ANY REQUIREMENT.TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCLANENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY
PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS.EXCLUSIONS AND CONDRIONS OF SUCH
POUGES. AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
a
S TYMOFWKWA� Fowl IreL t�JL7EtFEQIBE PRC'��'G=:hTIG11 LYrB
LTR 0117EpnowTl IMTEou"w T1
G"1301ILLIWT1 PACP-9128A609-04 10/28/2004 10/26/2005 —00aAaEN�E $ 1,000,000
A a omvaRaALGgeLsLuuxjTY IUREDIMKEW=&* 300,000
ctAWNWE F�i]OCLUt Y13)8PPRLIep=4 $ 5,000
_ FewwLANVINAW $ 1,000,000
_ 99 AGWGUE 2,000,000
cert"ocBEcwtEtJrarTws+ESPi "� $ 2,000,000
a no, P F�ILUC
WTONUMUEUNALITY PACP-9128AG09-04 10/28/2004 10/28/2005 00wHkwSsta.EULQ
]► ANYAuro
faacklim $ 11000,000
xL OWIe)AM DWILY KJ RY
SOEDIAEDAUrOS #`Ian $
z HRB)AUTOS 80OLLYNJURy
Z: NMON&DxNas fyt $
_ PROPEM DAIMGE
far mr:1:4 $
GUAGELPIIIY M900NLY-51ACGDENT $
ANYAUTO 01T6ITHM EAAa$
AM ONLY: AM$
e[IMLVMLWY CUP-775641013-04 10/28/2004 10/28/2005 69CH000URREMM 2 0
B X 0=- ❑CIAu6LLIDE AGGREGkIE 2 000 000
$
�OIDUCTIBLE $
XREFENTIDN $soon $
TaDAI�fCdleTIL71011AMe
rollrttarXCnw a ER
EL EAMADOGENT
ELIAS:ft&E-tAEWLGYR $
F1.OISEASE-PpIL7 LWf $
unlet $
S
S
OESCRIFTION OF OPERAllON31LOCAT10L�N6�CL.�JD(CLlJ31pp8 ADDED BY PFA)m i0 t:
CERTIFICATE HOLDER I3 NAMED ADDITIONAL INSURED - IIANAGSR OR LESSOR OF PREMISES FOR THE FOLLOWING
LOCATION 1120 SOUTH FREEWAY SUITE 204 & 205 FORT WORTH,TX 76104
CERTIFICATE HOLDER X ADonx mAl DiSURffiN19URF3i L>=TTr�z A CANCELLATION
TECH FORT WORTH SHOIED ANY OF THF ABOVE OE9(,RIB® POLICR3 t�
EXPRiATION DATE THEREOF,THE ISSIING MSI U a L�TFO-1�7;
O t o Z'd4Ay°'
ATTN CATHEY XARNES tc? -
YdNMEN NOTICE TO THE CERMCATE HOLDER NAMEDBUT I-A LURE TO
1150 90[rPH FREEYIAY SUITE 106
DO SO SHALL IMPOSE NO OBLIGATION OR LIAB&M OF A Y IQ p UPCeI TFE LNSUREd,
FORT WORTH TX 76104 TTS AGENTS OR REPRESENTATIVES.
7�-
REPRE59irfATNE aoc�I-
ACORD 255(7[97) O ACORD CORPORATION 1983
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 2/17/2004
DATE: Tuesday, February 17, 2004
LOG NAME: 17GUINN GYM REFERENCE NO.: **L-13762
SUBJECT:
Authorization to Appprove Lease Agreements for TECHFort Worth, Formerly the Guinn School
Gymnasium, for Use by TECHFort Worth Incubator Clients
RECOMMENDATION:
It is recommended that the City Council authorize the City Manager to execute lease agreements with
TECHFort Worth Incubator Clients to occupy TECHFort Worth, formerly the gymnasium at the historic
James E. Guinn School.
DISCUSSION:
TECHFort Worth is a 501(c)(3) non-profit technology business incubator. Business development services
are offered to technology companies in three sectors: biotechnology, aerospace technology, and
information technology.
The facility offers approximately 11,000 square feet of rentable space. The space will be offered to
companies on a sliding scale, depending on the services provided by TECHFort Worth and the location of
office space, ranging from $13.50 to $15.00 per square foot, per year.
Renovation of the gymnasium was accomplished with an Economic Development Initiative grant
($1,202,500), and leveraged with Community Development Block Grant funds ($500,000) and Local
Development Corporation funds ($500,000). Construction is anticipated to be completed by mid-January
2004. Seven companies have made verbal commitments to lease approximately 5,500 square feet upon
completion of the project.
Rent revenue collected on the building will be used to pay occupation costs such as utilities, liability
insurance, janitorial service, maintenance, and security. Additional cash flow generated from rent revenue
will be used to pay operating expenses of TECHFort Worth.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that this action will have no material effect on City funds.
TO Fund/Account/Centers FROM Fund/Account/Centers
Submitted for City Manager's Office by Reid Rector (6140)
Originating_ Department Head: Tom Higgins (6192)
Additional Information Contact: Dorothy Wing (212-2665)
Loaname: 17GUINN GYM Pale 1 of 1