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LEASE AGREEMENT BETWEEti'
<br />the
<br />CITY OF NORTH OLMSTED
<br />and the
<br />BOARD OF TRUSTEES OF TF-E
<br />CUYAHOGA COUNTY PUBLIC LIBRARY
<br />This LEASE AGREEMENT is made as of benveen the City of North
<br />Olmsted (the City), a municipal corporation duly organized and validly existing under the Constitution and
<br />laws of the State of Ohio and its City Charter, as lessor, and the BOAR.D OF TRUSTEES (the Trustees) of
<br />the CUYAHOGA COtJNTY PUBLIC LIBR.ARY, a county library organized and existina under Chapter
<br />3375 of the Revised Code, as lessee, pursuant to Ordinance No. , duly passed by the Citv Council on
<br />, and a resolution duly adopted by the Board of Trustees on , ,
<br />copies of which are attached hereto as Exhibits "C" and "D". As required by the context herein, and as
<br />permitted by law, reference to the "Ciry" and to the "Trustees" shall also include their respective officials,
<br />agents and employees.
<br />WITNESSETH
<br />WHEREAS, the Tnistees have operated, as a free public library, a branch of the Cuyahoga
<br />County Public Library (the North Olmsted Branch) in a facility located at 27425 Butternut Ridge Road,
<br />North Olmsted, Ohio (the Existing Facility); and
<br />WHEREAS, upon the request of the Trustees, the City Council submitted to the electors of
<br />the City at an election November 7, 2000 the question of, and those electors approved, the issuance of general
<br />obligation bonds, including anticipatory securities, in the aggregate principal amount of $10,750,000 (the
<br />Obligations), for the purpose of constructing, furnishing, equipping and otherwise improving a free public
<br />library building (the New Building) and acquiring, preparing, landscaping and otherwise improving its site
<br />(the Site and, together with the New Building, collectively, the New Facility); and
<br />WHEREAS, the City and the Trustees entered into an Agreement dated as of ,
<br />under which the City agreed to proceed with the acquisition, preparation, landscapin; and improvement of
<br />the Site and the construction, fumishing, equipping and improvement of the New Buildin„ and the Trustees
<br />agreed to cooperate in that process and to operate a fully staffed and functioning free public library in the
<br />New Facility; and
<br />WHEREAS, the City entered into construction contracts for the New Facility with the
<br />approval of the Trustees (collectively, the Construction Contracts), the New Faciliry has been [substantially]
<br />completed, and the Trustees, with the understanding of the City and in contemplation of the execution and
<br />delivery of a lease agreement in substantially the form of this Lease Agreement, [intend to move] [moved]
<br />the operations of the North Olmsted Branch into the New Facility commencing on (the
<br />"Effective Date");
<br />NOW, THEREFORE, in consideration of these presents and the mutual promises and
<br />undertakings herein contained, and for other good, sufficient and valuable consideration, the receipt and
<br />
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