50-04 Lease Agreement w/ Board of Ed - Pools

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EXHIBIT A LEASE AGREEMENT This Lease is made at Lakewood, Ohio, as of this day of May, 2004, by and between the City of Lakewood, an Ohio municipal corporation, who with its agents and assigns is herein called the "CITY" and the Lakewood City School District/Lakewood Board of Education, an Ohio political subdivision, who with its successors and assigns is herein called the "BOARD". WITNESS: Whereas the CITY and the BOARD have worked cooperatively together to maximize the recreational and educational opportunities for the citizens and taxpayers of the City of Lakewood, primarily through the Lakewood City Schools' Community Education and Recreation Department; and Whereas the CITY and the BOARD have effected savings for the Lalcewood taxpayers by coordinating the BOARD's programs and staffs for aquatic recreation/ education year-round for the pool at Lakewood High School with the CITY's summer outdoor pools, Foster Pool at Lakewood Park and Madison Pool at Madison Park; and accordingly, the CITY (by that certain Agreement between the parties made pursuant to Resolution No. 7542-01 of Lakewood City Council, hereinafter, the "Pool Agreement") has utilized the BOARD's Community Education and Recreation Department to manage, maintain, and operate the CITY's outdoor pools; and Whereas the parties believe that the operations and insurance provisions of the Pool Agreement would be improved by the CITY formally leasing the pools to the BOARD, affirming the BOARD's status as primary operator of those pools while maintaining the CITY's ownership and capital maintenance responsibilities; NOW THEREFORE in consideration of the mutual promises and covenants made herein and for othe/* valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the CITY and the BOARD agree as follows: 1. Leased Premises. The CITY leases unto the BOARD the premises (herein called "Leased Premises"), kno~vn as Foster Pool at LaXewood Park and Madison Pool at Madison Park respectively, and identified in th~ Pool Agreement as "the pools and pool areas". 2.. Lease Term. 2.1 The term of this Lease (herein called the "Term") shall commence on the first day of May, 2004. 2.2 The Term shall expire on the last day of April, 2005, except that this Lease shall be automatically renewed and extended from twelve month period to twelve month period thereafter unless either party gives notice of its intention not to renew by delivering written notice thereof to the other party not less than ninety (90) days prior to the expiration of the then existing Tenn.