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HomeMy WebLinkAboutCity of Tamarac Resolution R-73-056CITY OF TAMARAC, FLORIDA RESOLUTION NO. L RESOLUTION APPROVING THE CITY HALL LEASE WITH LEADERSHIP HOUSING, INC. AND AUTHORIZING THE MAYOR TO EXECUTE THE LEASE ON BEHALF OF THE CITY WHEREAS, the City of Tamarac and Leadership Housing, Inc. have agreed upon the terms of a lease covering the use and occupancy of the City Hall site, and WHEREAS, the terms of the lease are satisfactory to the City, and WHEREAS, the City Council desires that the Mayor execute said lease on behalf of the City. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE City of Tamarac, Florida: SECTION 1: That the terms and conditions of the City Hall lease between the City of Tamarac and Leadership Housing, Inc. are hereby approved, said lease being attached to this Resolution, and incorporated herein by reference. SECTION 2: That the Mayor is authorized and directed to execute the City Hall lease on behalf of the City. PASSED, ADOPTED AND APPROVED this day of 1973. MAYOR ATTEST: CITY ELERK RECORD OF COUNCIL VOTE Mayor Seltman Vice Mayor Lange ..p,. Councilman Johnson Councilman Shultz Councilman Socker A HEREBY CER 1'FY that 1 have, approved the form and cOrre tees$ of this f 1 I / L CI - 70 El' - f TdIS AGREF21EN-T made and entered into th i s ab dam:,- 1976, by and betUreen LEADERSHIP HOilS?'�,C, ? �`.^ . , a D:�la%rare corporation, whose address is 6000 North Univers_4Ir Fort Lauderdale, Florida 33313, hereinafter referred to as "Landlord" and the City of Tamarac, 1,•7hose address is 5200 Rock Island Road, Tamarac, Florida 33156, hereinafter referred to as "Ten-wa t,> x WITNESSETH = I. PROPERTY LEASED l.l. DEMISE_ Landlord leases unto Tenant and Tenant takes and hires from Landlord the premises described in 1_2 hc:r•r•i,nz upon the terms.and conditions herein set forth. 1.2 DESCRIPTION OF PREMISES. That certain parcel of real property, together with the improvements thereon, located'at 5200 Rock Island Road, in the City of Tamarac, County of Broward, State of Florida, described on EXHIBIT "A" attached hereto_ 1. 3 ' COVENANT OF QUIET ENJOYMENT_ So long as Tenant pays the sums to be paid hereunder and performs all the covenants hereof, the Tenant shall quietly enjoy the demises premises, subject, however, to the terms of this Lease_ TERM 2.1 TERM. The term of this Lease shall commence April 1, 1973 and terminate March 31, 1974. 2.2 POSSESSION. Possession of the leased premises shall be delivered to the Tenant upon the commencement date of the lease term. Tenant shall quit, vacate and surrender possession of the leased premises on or before the expiration date broom clean, vacant, in good order and condition, ordinary wear excepted. III: � • CONSIDERATION r 3.1 RENTAL_ Tenant agrees to pay and Landlord agrees -to accept an annual rental for the premises in the amount of ONE DOLLAR ($1.00) for the initial one (1) year term of this Lease* - the receipt of Which is hereby acknowledged. 3.2 ADDITIONAL CHARGES. It is the purpose and intent of Landlord and Tenant that, except as herein otherwise provided, the above rent shall be net to Landlord, so that this Lease shall yield to'Landlord the rent- specified and that -all costs, expenses and charges of every kind and nature relating to the demised Premises, (except as may be otbon,;i.se provided herein) shall be paid by Tenant, and that Landlord s`aln be indemnified and savea r harmless by Tenant- anc. a ainsc the sa�-e, i�n=5 net rent sham be paid to Landlord 1z'-nout notice or de:-na.,-%d and Without abatement, deduction,. or set-off, except as otber-,tiise expressly provided in this Lease. All taxes,. charges, costs and expenses. cih ch "'enant as<.umes or agrees to pay under any provisions of this Lease, t-oget:;=•_ fr +.:h all interest and penalties that may accrue thereon in the event rat_ Tenant's failure to pay the same as herein provided, all other 11t mages, costs and expenses which Landlord rrcay suffer or incur,, and anyany and all other sums which may become due by reason of any default of Tenant or failure on Tenant's part to comply with the agreements, terms,.covenants and conditions of this Lease on Tenant's part to be performed, and each or any of the::, shall be deemed to be additional rent, and, in the event of non.-pa-ment,. Landlord shall -have all the rights and remedies herein provided in the case of non --payment of rent. 3.3 METHOD OF PAYMENT. All sums to be paid to the Landlord shall be payable to Landlord at .its office, or at such other address As Landlord may hereafter designate. Any payment by check shall be deemed only conditional payment until it is paid upon presentation to the bank on which it is drawn,. issued or certified. IV. THE PREMISES 4.1. Demised Premises will be used for office and other governmental purposes by,the officials and employees of Tenant and for no other purpose. 4.2 REPAIRS AND MAINTENANCE. Tenant shall, at all times during the term, and at its own cost and expense, keep and maintain in good'order and condition# ordinary wear and tear excepted 'all buildings and improvements on the demised premises at the commence- ment of the term and thereafter erected on the demised premises, or forming part thereof, and their full equipment and appurtenances, and make all repairs thereto and restorations, replacements and renewals thereof, both inside and outside, .structural and non-- structural, extraordinary and ordinary, seen or unforseen, howsoever the necessity or desirability for repairs may occur, and whether or not necessitated by latent defects or othereai.se; and shall use all reasonable precaution to prevent waste, damage or injury. Tenant shall also, at its own cost and expense, put, keep, replace and maintain in thorough repair and in good, safe and substantial order and condition, and free from dirt, rubbish and ether obstruc- tions or encumbrances, the sidewalks, parkinU arff as, yard:, planLi.ngs, pavement, gui.ters and curbs in front of and adjacent to the derni.sed Premises.. Landlord shall not be required to furnish to Tenant any facilities. or services of any kind whatsoever during the term,. such as, but not limited to water, sewer, steam, heat, gas, hot water, electricity, light and power. Landlord shall in no event be required to make any alterations, rebuildings, replacements, changes, additions, improve- ments or repairs to the interior or exterior of the premises during . the term. Notwithstanding the obligation of the Tenant hereunder to mare all necessary repairs to the demiseu premises, the Landlord nay enter 4. upon the premises and ;-a:ta such repairs or alterati o:is as may be - necessary -or ba safety and preservation thereof provided, however, that, except in the case of emergency, t=:e Landlord shall give Tenant thirty (30) days' notice before making any repairs. In ti-te event that Tenant shall fail or neglect to make such repairs, L:­.r►dlord or its agents may enter upon the premises for the p rpose. or`: making such repairs, and all the costs and expenses consezr2en z. shereon, with interest thereon, shall be repaid by the Tenant to i,he Landlord as additional rent. 4-3 ALTERATIONS_ Tenant shall not alter or renovate or modify the exterior nor the interior of the premises without prior written consent of the Landlord. In the event such consent is given, all work shall be performed in a good, workmanlike manner in accordance with accepted building practices and so as not to weaken or impair the structure or lessen the value of - the building, and under such terms and conditions as are prescribed by the Landlord to insure good -and workmanlike completion of'such alterations and payment in full therefor. All buildings, alterations, rebuildings, replacements, changes,. additions,improvements,. equipment and appurtenances on or. in the demised premises at the commencement of the term, and Vnich may be erected, installed or affixed on or. in the demised premises during 'the term, are and shall. at the option of Landlord be deemed to be, and immediately become part of the realty -and the sole and absolute property of Landlord and shall be deemed to be part of the demised, premises, except that all movable trade fixtures and equipment installed by Tenant shall be and remain the property of Tenant. 4.4 LIENS. Tenant shall have no power to do any act or"make any contract which may create or be the foundation for any lien, mort- gage or other encumbrance upon the reversion or other estate of Landlord, or upon anyinterest of Landlord in the demised premises or in the buildings or improvements thereon. If, because of any act or omission (or alleged act or emission) of Tenant, any inechanic:' or other lien; charge or order for the payment of money shall. be filed against the demised premises or any building or i.mprorrements thereon,, or against Landlord (whether or not such lien, charge or order is valid or enforceable as such), Tenant shall,.at its own cost and expense, cause the same to be cancelled and discharged of record or bonded within ten (10) days after notice of fixing thereof. 4.5 SIGNS. Any sign or symbol or exterior lighting fixtures placed upon any portion of the building or the premises by the Tenant shall be subject to the prior written approval of the Landlord. 4. G INSPECTION. Landlord, or its representatives,* tat.ives,* ;hall have the right to enter the premises at reasonable hours of any business day during the tern to ascertain if the premises are, in proper repair and condition. 4.7 ' COMPLIANCE WITH LAWS. Tenant shall, at its own cost and expense, promptly observe and comply with all present and future laws, ordinances, requirements, orders, directions, rules and regu- lations of the federal, state, county and municipal governments and of all other governmental authorities having or claiming jurisdiction over the demised premises or appurtenances or any part. thereof or the conduct of Tenant's activities thereon,, and of the insurance underwriting board or insurance burc,-Ju ha-tir1 or cla.i.fnmy jur.isdicL-ion, or any 1.)(jdy rxr:rcJ inq :cirri. tar functions, and of all insurance ccmnanies -rriting policies covering the demised c,enises or an-i ^art trerecz. 4.8 D�.r.ikGEE OR D ,S! RUly� � V 4 . li, � ri n j — I - - Ler` , mite �'.IY w ?�?� �` rJ improvements on the demised premises shall be destr4�rwd o� da.�ayed in whole or in part by fire or ether cause, Tenant mall o &,ndlord immediate notice thereof, . and Tenant, at its own, cost anu. ,,pense, shall promptly repair, replace and rebuild the sar e, at 1,-ast to the extent, of the value and as nearly as possible to the :haracter of the buildings and improvements existing immediately prior to such occurrence; and Landlord shall in no event be called upon to repair, replace or rebuild any such buildings, improvements or equipment, nor to pay any of the costs or expenses thereof beyond or in excess of the insurance proceeds as'herein provided. All insurance proceeds received by Landlord on account of such damage or destruction, less. the actual cost, fees and expenses, if any, incurred in connection with adjustment of the loss,shall be applied by Landlord to pay or reimburse Tenant for the payment of the cost of the aforesaid restoration,.. including'tbe cost of temporary repairs or for the protection of property pending the completion of permanent restoration, and sball be. paid out from time to time as such restoration progresses under terms.and conditions as prescribed by Landlord to insure good and workmanlike completion of the repairs and restoration and paYert in. full therefor. 4.9 WARRANTIES: DISCLAIMER. Landlord expressly disclaims ar_t- warranty, either express or .implied, and Tenant acknowledges that neither Landlord nor its agents have made any representations or promises with respect to the building, the land upon which it is erected,"as the demised premises, except as herein expressly set forth. Taking possession of the demised premises by Tenant shall be conclusive evidence, as between Landlord and Tenant, their successors or any permitted assigns,that the Tenant has accepted the premises "AS IS" and that: said demised prcmi::es were in good and satisfactory condition at the time such possession was so taken. a TAXES AND OTHER CHARGES 5.1 Tenant shall bear, pay and discharge, on or before the las-t. day on which payment may be made without penalty or interest all taxes, assessments, water rents, -rates and charges, newer rent., transit taxes, charges for public ut.il.iLies, l.icen x: and perml t: lees and oL.her governmental .impo, ;l L i cane: wid C-barge:.: raL every kind and nature whatsoever, extraordinary as well as ordinary, seen or unforeseen, and each and every installment thereof, which shall or may during the term be charged, levied,. assessed or imposed upon, or arise in connection with the use, occupancy or possession of, the demised premises or any part thereof, or any buildings, appur- tenances or equipment thereon or therein or any part thereof, or any part thereof, or the sidewalks or streets in front of or adjoining the demised premises. 5.2 All. such taxes and other governmental levies and charges which shall be charged, assessed or imposed for each Fiscal period in -which the term of this Lease commences and I-erminates F-ball be apportioned prorata between Landlord and Tenant in accOrdancc r:ith 0 1 the respective portions o= each such _fis al period during w"ni.ch such to --n, shall be in effect. 6.1 V1. INSURANCE During the term Tenant, at its own cost and expense,. shall: (a) Keep all buildings and. improvements on, in or appurten-�- ant to the demised premises at the commencement of the term. and thereafter erected. thereon or therein,_ including all . alterations, .rebuildi.ngs, replacements, changes, additions,, and improvements insured against loss or damage by fare and such other risks as may be included in the standard fora of extended coverage from time to time available, in an amount sufficient to cover the cost of replacing the building(s) and improvements (without deduction.for dep.reciation), exclusive of foundation supports below the surface of the ground, and the costs of excavation,, underground pipes,, flues, wiring, and drains. Such replacement value shall be determined from time to time, at -the request of Landlord, - by one of the insurers or, at the option of Landlord, by an appraiser, architect or contractor. who shall be mutually and. reasonably acceptable to Landlord and Tenant; (b) Provide and keep in force comprehensive general public liability insurance against claims for personal injury, death or property damage occurring on, in or a'nout the demised premises or the adjoining, streets, property and passageways, such. insurance, to afford minimum protection, during the term of this Lease, of not less. than $1.,000,000 in respect 'of personal injury or death to any one person, and of not less than $5,000,0.00 in respect of any one occurrence.,and, of not less than $500,000 for property damage (c) Provide and keep in force plate glass insurance covering the glass in the demised premises; (d) Provide and keep in force such other insurance and .ir: such amounts as may from time to time be.required by Landlord or any mortgagee against such other insurable hazards as, at the time are commonly insured against in the case of premises similarly situated. 6.2 All insurance provided by Tenant as required by this Article 6 shall be carried in favor of Landlord and Tenant, as their re— spective interest may appear, and any underlying lessor, fee owner or affiliate corporation, trustee or mortgagee designated by Landlord._ .If -requested by Landlord, such insurance again.. t fire or ether casualty shall -include the _interest of the holder cif any -mortgage gage (an the fee and shall provide that loss, if any, shall be liayable to such. holder under a standard mortgagee clause. All such insurance shall be taken in such responsible companies, licensed to do business in the State of Florida, as Landlord shall approve and the policies therefor shall at all times be held by Landlord or, when appropriate, by the holder of any such mortgage, in which case copies of the . I 1 WJ 1 Policies or cer—L i ficates o= s�ca ina:: cA mall be delivered by Tenant to Landlord. awl s.: h policies S"-111 be non -assessable and snail require ti JL_--_ (30) days` nMica reg_stered mai' to Landlord of any cancellation thereo; oY Lan-_,? or coverage thereunder. 6.3 Tenant shall procure policies for all, such inSUrance for p(_:riods of not less than one (1) year and shall deliver to Land? ord such policies or certificates thereof with evidence of the payment of premiums thereon, and shall, if appropriate, procure renewals thereof from time to time at least twenty (20) days before the expiration thereof. V11. INDEMNIFICATION 7.1 Tenant shall indemnify and save harmless. Lan�tlord against and from all costs, expenses, liabilities, losses, damages, .injunc- tions, suits, actions, fines, penalties, claims and demands of every kind or nature, including reasonable counsel fees, by or on behalf of any person, party or governmental authority whatsoever arising out, of (a) any failure by Tenant to perform any of the agreements, terms,. covenants or conditions of this Lease on Tenant's part to be per- formed, (b) any accident,. injury or damage which shall happen in or about the demised premises or appurtenances or on or under the streets, sidewalks, curbs or vaults in front of or adjacent thereto, however occurring, and any matter or thing growing out of the condition, occupation, maintenance, alteration, repair, use or operation of the demised premises, or any part thereof, and/or of the streets, sidewalks, curbs or vaults adjacent thereto during the term, (c) failure to comply with any laws, ordinances, requirements,. orders, directions, rules or regulations of any federal, state, county or city governmental authority, (d)-any mechanic's lien filed against the demised premises or any materials used in the repair or restoration or alteration of any building or improvement thereon, or (f) arly tax attributable to the execution, delivery or recording of this Lease or any modification thereof. ENFORCEMENT 8.1 Each of the following events shall be a default hereunder by Tenant and a breach of this. Leaser (a) If Tenant shall fail to pay Landlord any sum due hereunder as and when the same shall become due and payable. (b) If Tenant shall fail to perform any of the covenants or conditions hereof on Tenant's part to be performed_ (c) If Tenant shall vacate or abandon the demised premises. (d) If this Lease 'or the estate of Tenant: heretindrnr `-ha1l. be transferred to or shall pass to or rlevolvc upr.)n any other person or party, except in a manner otherwise permitted herein. If any such e*.•e„t shall occ•at- and by continuing, Landlord s;,al l have R 1 1 t"he . _ _o cµI+cel and Lease, as aelj as all of the right, tit -le and i t rss z O- tenant ere�:n er by giving to Tenant not Less than five (5) notice o_` suc^ cancellaticn and tel: ina• tion, and upon the expiration of the t-Lme fixed i s�_.. r:c�_WC, wn__ Lease and term hereof, as well as all of the right, L_tla a--d- _e=� Tenant hereunder, shall expire in the same manner and .:it -the ir,►e force and effect, except as to Tenant's Liability, as f the ,:,cpiration of the time fixed in such notice of cancellation and germination were the end of the term herein originally deim ised. 8.2 If this Leasc shall be cancelled and te:rr:,inated as provided in Section 8.1 Tenant covenants and agrees, any other covenant in this Lease to the contrary notwithstanding, that the de^l sec? -:)remise; shall be then in the same condition as that in wni ch Tena.^_t as agreed to surrender them to Landlord at the expiration of - hereof. 8.3 The rights and remedies given to Landlord in this Lease are distinct,. separate and cumulative, and no one of -(_hem, crliether or not exercised by Landlord, shall be deemed to be in exclusion of - any of the others herein or by law or in equity provided- 8.4 The failure of Landlord to insist upon a strict performance of any of the agreements, terns, covenants and conditions hereof. shall not be deemed a waiver of any rights or remedies that Landlord may have and sha.l.l, not be deemed a waiver of any subsequent breach or default in any of such agreements, terms, covenants and conditiozxs� Ix. NO RENT ABATEMENT 9.1 No abatement, diminution or reduction of rent, charges or other compensation shall be claimed by or allowed to Tenant, or any persons claiming under it, under any circumstances, arising from the: making � to atwon V r additions, or repairs, bcca�usc of I 14w, c-3�4 o� s1 r,� u�w u� y pr.�sent or future governmental laws, requirements, orders, or regulations, or arising from, and during, the restoration of the demised premises after the destruction or damage thereof by fire or other cause, or the condemnation of a portion only of the devised premises or arising from any other cause or reason_ X. CONDEMNATION 10.1 In the event that the demised premises or any part: thereof, shall be taken in condemnation proceedings or by exercise of any right of eminent domain or by settlement agreement in lieu t:bereof between Landlord and those authorized to exercise such right, Landlord shall be entitled to collect the entire award made in any. such proceeding without deduction therefrom for any estate hereby vested in or owned by Tenant. Tenant agrees to execute any and all further documents that may be required in.order to facilitate col- lection by Landlord of any and all such awards. 10.2 if at any time during the tern of this Lease, the %,hole or substantially all of the demised premises shall. be so taken or condciinned.. U)i.s Least. s1ra11 f.erminat_er ar<<l r,r$ 111ct dat.l• upcln 1 w"C1 c'1i .. _ � } e a;' a l vss t in `� CC ` 17%,^ ^C au`.ho,_rity and the net rent provided to be paid bly r`enw:?t shall be annor.lone.d and paid to suc1,1 date. For the purposes of this Section, "subscantia?iv all. of the demised premises" shall be deemed to have been taken if the _portion cl the demised premises not so taKen, and taking into ccns!_cer_t;on fie amount of the net award available .for such purpose, cannot- be so rs>paired or reconstructed as to constitute a complete, rentable !,twructure suitable for the normal conduct of tenants' business .and operations permitted hereunder and as conducted by tenant prio-- to such taking_ 10.3 In the event of a partial taking, which shall not result in termination of this Lease, either party shall have the option to cancel the Leaseeffective as of the date of Litle vesting in the condemning authority. X1. SUBORDINATION 1.1.1. This Lease and all rights of Tenant hereunder are and -shall be subject and subordinate to the lien of any and all mortgage or mortgages which may now or hereafter affect the -demised premises, or .any -part thereof, or the demised premises and other premises,. and to any and all renewals, modifications, consolidations, replace- ments and extensions of any such mortgage or mortgages. Tenant shall upon demand at any time or times execute, acknowledge and deliver to Landlord, without expense to Landlord, any and all instru- ments. that may be necessary or proper to subordinate this Lease and all rights hereunder to the lien thereof, and, if Tenant shall fail at any time to, execute, acknowledge and deliver any such subordina- tion instrument, Landlord may, execute, acknowledge and deliver the, same as the attorney-, in fact of Tenant and Tenant hereby irrevocably makes, constitutes and appoints Landlord, its, successors and assigns, Such attorney in fact for that purpose. 11.2 ESTOPPEL CERTIFICATE. Tenant shall, without charge, at any time and from time to time hereafter, within ten (10) days after request by. Landlord, certify by a written instrument duly executed and acknowledged to any person specified by Landlord, as to the validity of this Lease, in accordance with its -tenor, as to the existence of any default on the part of any party thereunder,. as to the.existence of any offsets, counterclaims or defenses thereto on the part of Tenant, and as to any other matters wbi.ch may be reasonab: requested by Landlord. XII . ASSIGNMENT 12.1 Tenant shall not assign, mortgage, pledge or encumber this Lease, or sublet the demised premises, in whole or in part, or permit the same or any portion thereof to be used or occupied by others, or enter into a use contract or license or other arrangement whereby the demised premises shall be occupied or used by anyone other than Tenant, nor shall this Lease be assigned or transferred by operation of law, it being acknowledged that the terms of this Lease are based upon the municipal nature of Tenant. 12.2 'I'ena-it shc�'..7I `:,_ '(jut Lcancilorc.'." con!-.ent: r,n1, r.r i,-Ite,t 3 service contract or agwea,-ent weiat;n5 to t;7e Burnishing of any services mised pemisws of the oYcupants thereof unless such contract- or a� ree'-tent shall by its terms be terminable ort no more than thirty (30) days' notice or shall expYessly Provide that it shall not become binding on Landlord .in the that _ s !I:.. -.se shall be terminated or expire XII2. MISCEL1_.ANEOUS PROVISIONS 1.3.1 NOTICES. Every notice, approval, consent or other col-, rruni.-- cation authorized or required by this Lease shall be effective if given in writing and sent by United States Registered or. Certified Mail, Return Receipt Requested, with postage prepaid, and addressed directly to Landlord or Tenant at their respective addresses as set forth on Page 1 of this Agreement, or to such addresses as either party may designate by written notice from time to time_ 13.2 SUCCESSORS. This contract shall bind Landlord and Tenant - and their successors. and assigns. 13.3 RECORDING. Tenant shall upon request of Landlord execute a- sbort form of this Lease on a written document,. witnessed and acknowledged in form capable of being recorded in the public records. Tenant shall not record this Lease or a short form thereof without prior written consent of Landlord. 13.4 COUNTERPARTS_ This agreement is being simultaneously executed in these counterparts, any one of which shall be admissible into evidence as an original record of the parties' agreement. 13.5' ..HEADINGS. The headings or title of the paragraphs and subparagraphs are inserted solely for the convenience of reference and shall not constitute a part of this Lease, nor limit, defi.re or describe the scope or intent of this Lease.. 13.6'. Tenant represents and warrants that no broker brought about this lease, and agrees to indemnify and hold harmless Landlord of and from any and all claims for commissions; compensations or other brokerage expense incident to this lease by reason of the breach -of the foregoing representation and warranty.. 13.7 Tenant shall obtain and pay for any and all utility services including but not limited to electric, gas, telephone,. water, sewer services, which Tenant may desire, and Landlord makes no representa- tion as to the availability or cost of any such utility service. 13.8 ENTIRE AGREEMENT. This Lease.embodies the entire agreement between the parties. There are no promises, terms, conditions or obligations referring to the subject matter other than those con.. tained herein. There may be no modification of this'Lease, except in writing, executed with the same formalities as.th is Lease XIV. ADDITIONAL PROVISIONS 14.1 OPTSCN TO RZND-1. PYo-;iced Tenant's obligat io.js her eunaer 1 are carve^t a..d not in de==u? �, Landlord does hereby grant to Tenant t :o S',.;ccessive op =icns to e;r Wend this Lease 5--or periods of one (1) year each, ,co �h� sa,,e -e=s and coed-i bons as herein contained, except the rent shall be as hareinafte- provided_ Each option must be exercised by notice in ..:riling to the Lrtnlczr� , q;.ven at least sixty (60) days prior to the expiration of p,.-eceding term. The rent during said option periods sha? 1 he Twelve Thousand Dollars ($12,000.00) per annum, payable One Tbousard Dollars ($1,000.00) per month, payable in advance on the first day of every calendar month. In addition to said rent, Tenant shall pay all other charges and items required to be paid during the initial one (1) year term. Nothing in this paragraph should be deemed to grant Lessee the option to extend this lease for more than an aggregate of two (2) years beyond the initial term 14.2 Anything contained in this lease to the contrary, the pa --ties agree that during the initial. one (1) year term of this lease only,. Tenant shall only pay the sum of Two Hundred Dollars ($200.00) per month toward the Tenant's obligation to pay for ad valorem taxes upon the demised, premises, and insurance premiums insuring the demised premises against dazz►age or destruction by casualty as provided herein. Any excess in the total of such ad valorem tares and insurance premiums shall be paid by the Landlord. Taxes and insur- ance shall be prorated for the year 1973, commencing with the lst day of the lease term, and similarly for the year 1974 as of the last day of the lease term. Inasmuch as such taxes and insurance are not payable upon a monthly basis, the provisions of this paragraph shall be deemed cumulative to the end that the Tenant shall pay the first Two Thousand, Four Hundred Dollars ($2,400.00) of such insur— ance premiums and prorated taxes, and it shall be the Landlord's obligation to pay any excess thereover. The Tenant agrees to pay to the insurance companies issuing such casualty insurance and to the taxing authorities assessing such taxes the' full amounts billed and" assessed. therefor prior to the date of delinquency, and the Landlord agrees . t.o reimburse the Tenant- for any excess over said sum of .Two Thousand Four `Hundred Dollars ($2,400-bo) within ten (1D) days after receipt by Landlord of Tenant's proof of payment thereof IN'. WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals this 'day of e` 1973. LEADERSHIP HOUSING, INC. Landlord Witness: Witness: BY�I Attest: CITY OF TAMARA.C, Atk,esL: Tenant _..1 ,r)