70-093 Ordinance - Laserfiche WebLink

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_ ~;, r ~,.~> Y~ ~~ - 2 - WHEREAS, on the day of , 1970, the Council. of the City of North Olmsted enacted Ordinance No. approving this Lease Agreement (hereinafter referred to as "Lease") and authorizing the Mayor of the City to execute the same on behalf of the City. NOW THEREFORE, in consideration of the rents, covenants and agree- ments herein reserved, mentioned and contained on the part of the City, its successors and assigns to be paid, kept a.nd performed, CRC has leased, demised and let, and by these presents does lease, demise and let to the City, and the City hereby takes and hires, upon and subject to the conditions hereinafter expressed, the Premises, described as hereinafter set forth, together with the Project, the buildings, structures and improvements to be erected thereon and in connection therewith, referred to in the preambles hereof: Starting at a point located as follows: Beginning at the center line intersection of North Park Drive and West Park Drive in the City of North Olmsted, thence N. 88° ~+3' S0" E. a distance of 135 feet along the center line of North Park Drive to a point, thence S. 1° 16' 10" E. a distance of 270 feet to the point of beginning. Thence from such point of beginning S. 1° 16' 10" E. a distance of 285 feet, thence N. 88° ~+3' 50" E. a distance of 255 feet; thence N. 1° 16' 10" W. a distance of ~+8 feet; thence S. 88° 43' S0" W. a distance of 30 feet; thence N. l° 16' 10" W. a distance of 237 feet; thence S. 88° ~+3' S0" W. a distance of 225 feet to the point of beginning, and containing approxi- mately 1.5 acres. Section 1. Premises and Term. The term of this Lease shall be for a period of ten (10) years commencing when CRC has completed the Project in accordance with the general plans and specifications and has delivered possession thereof to the City pursuant to a written acceptance of the Project by the City, provided, however, that this Lease shall automatically terminate if CRC fails, refuses, or is unable to complete the Project as required by this Lease within the period provided for in Section 3(b) hereof. ~.. ~ r~~>~_„~...