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Home My WebLink AboutAmendment to Lease Agreement – Renew Lease for Main Street Row Offices for Waterworks Billing Office Staff - Bradley Company Rental1316 COUNTY —CITY BUILDING 227 W.JEFFERSON BOULEVARD SOUTH BEND, INDIANA 46601-1830 CITY OF SOUTH BEND JAMES MUELLER, MAYOR BOARD OF PUBLIC WORKS March 24, 2020 Mr. Johnathan Jessen Bradley Company 112 W. Jefferson Blvd., Suite 300 South Bend, IN 46601 RE: Amendment to Lease Agreement Dear Mr. Jessen: PHONE 574/235-9251 FAX 574/235-9171 The Board of Public Works, at its meeting held on March 24, 2020, approved the above referenced amendment to renew the lease for Main Street Row offices for the Waterworks billing office staff in the amount of $54,362 for one (1) year with an escalating five (5) year lease. Enclosed please find the original of the lease for your signature. Please sign and return the original lease to our office and retain a copy for your records. If you have any further questions regarding this matter, please call this office at (574) 235- 9251. Sincerely, Linda M. Martin, Clerk Enclosure GARY A. GILOT ELIZABETH A. MARADIK THERESE J. DORAU JORDAN V. GATHERS JOSEPH R. MOLNAR DocuSign Envelope ID: 4EFF7837-FE43-4CA2-9E56-8813B2AFF5B1 Amendment to Lease for City of South Bend Water Works Page 1 of 1 AMENDMENT TO LEASE AGREEMENT This is an Amendment to the Lease Agreement made and entered into by and between 207 North Main, LLC ("Landlord") and City of South Bend Water Works ("Tenant"), originally entered into on August 1", 2009 for approximately 3,883 square feet of office space known as Suite 207 located at 209 N. Main St., South Bend, Indiana (which lease and all existing amendments are the "Lease"). Upon execution by Landlord and Tenant, this Amendment shall become effective as of April 1, 2020 NOW, THEREFORE, in consideration of the responsibilities and mutual covenants in the Lease and in this Amendment, it is mutually covenanted and agreed by and between Landlord and Tenant the Lease is amended by adding and/or modifying the following terms: A. Term. The Tenn of the Lease shall be extended through July 31, 2025 (the "Renewal Term.") B. Rental Rate. For the Renewal Tenn, Tenant agrees to pay Landlord in accordance with the following modified gross rent schedule. Period Base Rent PSF Annual Rent Monthly Rent 8/1/2020 — 7/31/2021 $14.00 $54,362.00 $4,530.17 ....... _.. 8/1/20217/31/2022 $14.35 ..... ... $55,721.05�$4,643.42 - 8/l/2022 — 7/31/2023 $14.70 $57,080.10 $4,756.68 8/1/2023-7/31/2024 $15.05 $58,439.15 _...... $4,869.93 8/1/2024-7/31/2025 ._� $15.40�.. .. $59,...� 798.20 ___....��u.—,..�......__.— ..�... $4,983.18 C. Termination Clause: During the Renewal Term, Tenant shall have an option to terminate the Lease at any time by providing six months' notice, and paying a penalty equal to two months' rent and the unamortized portion of any real estate brokerage commission. Commission is calculated as 4% of the aggregate base rent consideration received. The terms of this Amendment shall be read as part of the Lease. Except as specifically amended herein, the Lease remains in full force and effect as originally stated. In the event of any inconsistency in any terms or provision of the Lease and this Amendment, the terms and provisions of this Amendment shall control and govern. Any capitalized terms not defined herein shall have the meaning set forth in the Lease. LANDLORD: 207 N. MAIN, LLC, an Indiana limited liability company By Great Lakes Capital Management, LLC, its manager pk . Gu�Yhn J bY' os By Ryan Rans Its: Manager TENANT: CITY OF SOUTH BEND WATER WORKS an Indiana Incorporated Company March 10, 2020 Al Greek Director of Utilities 3113 Riverside Drive South Bend, IN 46628 agreekCa)sout ben in.gov Via email Re: Proposal to Lease Dear Al: RADLEY C O M P A N Y 112 W. Jefferson Blvd. Suite 300 South Bend, IN 46601 574-237-6000 574-237-6001 Fax www.bradleyco.com Enclosed, please find a proposal for renewing your lease at Main Street Row If these terms are acceptable to you, please sign and return this Proposal. PREMISES: 207 N. Main Street, South Bend,..IN 46601 commonly known as Main Street Row. TENANT: South Bend Water Works LANDLORD: 207 N. Main LLC SIZE: Approximately 3,883 square feet. RENEWAL COMMENCEMNT: August 1, 2020 ANNUAL BASE RENT: Base Rent Annual Monthly Year PSF Rent Rent 1 $14.00 $54,362.00 $4,530.17 2 $14.35 $55,721.05 $4,643.42 3 $14.70 $57,080.10 $4,756.68 4 $15.05 $58,439.15 $4,869.93 5 $15.40 $59,798.20 $4,983.18 TERMINATION CLUASE: During the period of this renewal, Tenant shall have an option to Terminate the Lease at any time by providing six months' notice, and paying a penalty equal to two months' rent and the unamortized portion of the commission. Commission is calculated as 3% of the aggregate base rent consideration received. Page 2 This letter/proposal is intended solely as a preliminary expression of general intentions and is to be used for discussion purposes only. The parties agree that this letter/proposal is not intended to create any agreement or obligation by either party to negotiate a definitive lease/purchase and sale agreement and imposes no duty on either party to continue negotiations. The parties intend that neither shall have any contractual obligations to the other with respect to the matters referred herein unless and until a definitive agreement has been fully executed and delivered by the parties. Prior to delivery of a definitive executed agreement, and without any liability to the other party, either party may (1) propose different terms from those summarized herein, (2) enter into negotiations with other parties, and/or (3) unilaterally terminate all negotiations with the other party hereto. Sincerely, Bradley Company Johnathan Jessen Gage Hudak Vice President Broker Bradley Company Bradley Company Accepted and Agreed: Tenant or its auth = k d a cnt Date r Date BOARD OF PUBLIC WORKS AGENDA ITEM REVIEW REQUEST FORM Date 3-10-20 Name Al Greek Department Water Utilitv BPW Date 3-24-20 Phone Extension 4210 IWIWI �ARkF/AMJ/fl W HUWMIWWI WVW@WM l ec as a ,Pnor to Submittal to Board BPW Attorney x Attorney Name Dept. Attorney EJ Attorney Name Purchasing x Check the A propriate Item'"l Y11 1 Professional Services Agreement E, Contract R Open Market Contract f-1 Amendment/Addendum (- Bid Opening E] Bid Award Quote Opening Quote Award ❑ Proposal Opening C/O & PCA No. ❑ Chg. Order, No. ❑ Traffic Control X Other: Building Leas ..........�.. _...._ Company or Vendor Name New Vendor MBE/WBE Contractor Project Name Project Number Funding Source Account No. Amount Terms of Contract Purpose/Description tda'd, Information All Submissions I�f Proposal [� Special Purchase, QPA Req. to Advertise Reject Bids/Quotes F] PCA Resolution ❑ Ease./Encroach ❑ Title Sheet Bradley Coa aany Rental EJ Yes ❑ If Yes, Approved by Purchasing X No ❑ MBE Completed E-Verify Form Attached ❑ Yes ❑ WBE ❑ No Bradley Company Rental 620-0640-658-3706 $54,362.00 first year 5 year agreement with escalatinR� .................�w Lease Main Street Row offices for Waterworks Balling office staff For Change e Orders O Amount of EJ Decrease .................... Increase Decrease Previous Amount $ _ Increase %... Current Percent of Change: Decrease ( % ° New Amount $ Increase % ._. ................. Total Percent of Change: Decrease ( %) Time Extension Amount: .. .. .............. w_ New C�.�..ompletion Date: ........... �_ _�mw.�._....... _�........_.