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Home My WebLink About20194301.tiff • RESOLUTION RE: APPROVE THIRD AMENDMENT TO OFFICE LEASE AGREEMENT FOR CHASE BANK BUILDING (822 7TH STREET, GREELEY) AND AUTHORIZE CHAIR TO SIGN- HOUTCHENS, GREENFIELD, SEDLAK, AND ZACHEIS, LLC WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, the Board has been presented with a Third Amendment to Office Lease Agreement for the Chase Bank Building (822 7th Street, Greeley) between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, on behalf of the Department of Buildings and Grounds, and Houtchens, Greenfield, Sedlak, and Zacheis, LLC, commencing February 1, 2020, and ending January 31, 2023, with further terms and conditions being as stated in said amendment, and WHEREAS, after review, the Board deems it advisable to approve said amendment, a copy of which is attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Third Amendment to Office Lease Agreement for the Chase Bank Building (822 7th Street, Greeley) between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, on behalf of the Department of Buildings and Grounds, and Houtchens, Greenfield, Sedlak, and Zacheis, LLC, be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to sign said amendment. cc.1 3GCTTISCA 0.cTc bCICD. 2019-4301 1Ot0`1o'1tI`t BG0021 THIRD AMENDMENT TO OFFICE LEASE AGREEMENT FOR CHASE BANK BUILDING (822 7TH STREET, GREELEY) - HOUTCHENS, GREENFIELD, SEDLAK, AND ZACHEIS, LLC PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 30th day of September, A.D., 2019. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLO DO ATTEST: S .) SO arbara Kirkmeyer, hair Weld County Clerk to the Board _c '�/ Mike Freeman, P -Tem BY: CV .`/� ------- Deputy Clerk to the Boar �� J ,. ri J � Sean ;. Conway i \' ( ) APP ED FOR '',� -O, or . James �' . A orney ,Ntil , Y / Y,--- - Pi-e.7-1--e,,-0-- 4J I ' \- Steve Moreno Date of signature: 10/03 X19 44146.4.••••"11' 2019-4301 BG0021 1861 DEPARTMENT OF BUILDINGS AND GROUNDS PHONE: (970) 304-6531 FAX: (970) 304-6532 WEBSITE: www.co.weld.co.us _G O UNT ? 1105 H STREET P.O. BOX 758 GREELEY, COLORADO 80632 September 20, 2019 To: Board of County Commissioners From:Toby Taylor Subject: Houchens Lease-Amendment Houchens, Greenfield, Sedlak&Zacheis, LLC are current tenants in the County building located at 822 7th Street. This lease amendment is for a 3-year lease with the option for a 3-year extension. The lease is for 4,321 square feet for a base rent rate of$17.51 per square feet the first year and a 3% Consumer Price Index increase each subsequent year. Buildings & Grounds is recommending approval of the lease amendment. If you have any questions, please contact me at extension 2023. Sincerely, Toby Taylor Director 2019-4301 09/30 BG©oat THIRD AMENDMENT TO OFFICE LEASE AGREEMENT This Third Amendment to the Office Lease Agreement("the Third Amendment")is made and entered into this 5O ay of 5e*ernRW'_, 2019, by and between the County of Weld, a body corporate and politic of the State of Colorado, by and through its Board of County Commissioners, whose address is 1150 "O" Street, Greeley, Colorado 80631 hereinafter referred to as "Landlord," and Houtchens, Greenfield, Sedlak & Zacheis, LLC, formerly known as Houtchens,Daniel& Greenfield, LLC ("Tenant"). WHEREAS, Landlord owns property located at 822 7th Street in Greeley Colorado (the "Chase Bank Building"or the"Property"); and WHEREAS,Landlord became successor in interest to SA19-Riverwalk Square LLC,as it relates to this lease agreement; and WHEREAS, Landlord and the Tenant desire to amend the Lease initially executed between the Tenant and Greeley Plaza, LLC, and to amend the Second Amendment to the Office Lease Agreement between CSA 19-River Walk Square, LLC (the successor to Greeley Plaza, LLC), and Tenant pursuant to the terms and conditions contained herein. This Third Amendment replaces any Options to continue the Lease signed by Tenant prior to the date of this agreement. NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties hereto agree as follows: WITNESSETH: 1. Prior Agreements: a. The original lease dated May 22, 2002 was executed between Greeley Lincoln Park properties LLC, ("Landlord") and assigned to Greeley Plaza, LLC ("Landlord") and Houtchens, Daniel and Greenfield, LLC and Thomas A. Houtchens, individually, ("Tenant")for Suite 270, 822 7th Street, Greeley Colorado ("Suite 270"). b. Landlord Greeley Plaza LLC and Tenant Houtchens, Daniel and Greenfield, LLC, subsequently amended the lease agreement by Tenant's letter exercising the option to extend dated June 18, 2007. c. An Amendment of Lease Agreement as to Suite 270 was executed on May 22, 2009 between Landlord Greeley Plaza, LLC and Tenant Houtchens, Houtchens & Greenfield, successor to the former Houtchens,Daniel & Greenfield. d. A Second Amendment to Office Lease Agreement was executed on about December 16, 2013 between CSA19-Riverwalk Square LLC, Landlord, as successor lessor to Greeley Plaza LLC and Tenant Houtchens, Houtchens & Greenfield, LLC. e. On May 1,2017 Houtchens,Greenfield, Sedlak&Zacheis,LLC,Tenant,the successor to Houtchens,Houtchens and Greenfield LLC, exercised the option to extend the lease term so that it expires January 31, 2020. f Landlord Weld County is the successor to CSA 19-River Walk Square, LLC. 2. Landlord and Tenant desire to Amend the Lease and the Second Amendment to Office Lease Agreement to reflect (i) the extension of the term of the Lease in accordance with the provisions hereof, (ii) the rent to be paid during the extended Term of the Lease, (iii) grant the Tenant a right through exercise of an option at the mutual agreement of the parties to extend the term of the lease from February 1, 2023 thought January 31, 2026, and(iv) the rent to be paid during the option period and other terms as herein provided. AGREEMENT 1. Description of premises: Landlord and Tenant agree that the Tenant continues to occupy Suite 270, 822 7th Street, Greeley, Colorado ("the Premises"). The Premises is part of the Building as that term is defined in the Lease. 2. Tenant's Square Footage: The square footage remains as defined in paragraph 6 of the Second Amended Lease,to wit: Tenant's Square Footage shall mean a portion of the second floor of the Building consisting of Four Thousand Three Hundred Twenty-One (4321) Rentable Square Feet including Tenant's Pro Rata Share of the Common Area. 3. Extension of Lease Term:Notwithstanding anything contained to the contrary in the Lease or Amendments to the Lease dated prior to this Third Amended Lease, Landlord and Tenant acknowledge and agree that the current term of the lease expires on January 31, 2020 and (i) the term of the lease is hereby extended for a period of thirty-six months commencing on February 1,2020 and ending on January 31,2023 and(ii)Tenant shall pay Base Rent to the Landlord in the following amounts for the following periods in equal monthly installments without offset or deduction as follows: Current Square Feet 4321 Per Sq. Foot Annual Monthly Current Rent Feb. 1,2019 $17.00 $73,457.00 $6121.42 New Base Rent Feb. 12020 $17.51 $75,660.71 $6,305.06 Feb. 1,2021 $18.04 $77,930.53 $6,494.21 Feb. 1,2022 $18.58 $80,268.45 $6,689.04 4. Option to Renew: a. Tenant shall have an option to extend the Lease for one additional lease term of three years as set forth herein so long as both Landlord and Tenant mutually agree to the option. Tenant may extend this Lease for three years from February 1, 2023 through January 31, 2026, on the same terms and conditions as contained in the Lease Agreement, the Second Amendment To Office Lease Agreement dated December 16, 2016, and this Third Amendment to Office Lease Agreement. Tenant's Base Rate for the renewal term shall be as set forth in this paragraph 4. b. The option is granted on the condition that (1) the parties mutually agree; (2) written notice of the exercise of the Option must be given by Tenant to Landlord not less than one hundred and eighty (180) days prior to the end of the then current Term of the Lease; (3) at the time of giving notice of exercise of the Option, and at the expiration of the then current Term of the Lease,there are no defaults in the terms, covenants and conditions on the part of the Tenant to be kept and performed under the Lease. The renewal term shall commence on the day following the end of the then current Term of the Lease. The Base Rent during the renewal term that is to be paid by Tenant to Landlord in equal monthly installments without offset or deductions is as follows: 3 Year Option Base Rent Rate Feb. 1,2023 $19.13 $82,676.50 $6889.71 Feb. 1,2024 $19.71 $85,156.80 $7096.40 Feb. 1,2025 $20.30 $87,711.50 $7309.29 5. Notices. In accordance with provisions of Paragraph 1.1 of the Lease,Paragraph 15 of the Second Amendment to Office Lease Agreement is amended as follows: notices to Tenant and Landlord shall be sent to the following addresses: Notices to Tenant Houtchens, Greenfield, Sedlak&Zacheis, LLC 822 7th Street, suite 270 Greeley, CO 80631 Attention: Brandon Houtchens Notices to Landlord Weld County Board of County Commissioners Attention: Toby Taylor,Director 1105 H Street P.O. Box 758 Greeley, CO 80632 6. The parties hereby ratify the remaining terms of the Second Amendment To Office Lease Agreement not amended by the Third Amendment, and ratify the Lease as Amended by the Second and Third Amendments and agree to be bound by and perform the terms of Second Amendment and the Lease that have not been amended. All other terms of the Lease and the Second Amendment are hereby confirmed and approved by the parties and remain in full force and effect. IN WITNESS WHEREOF, Landlord and Tenant have executed this Third Amendment to Office Lease Agreement. LANDLORD: COUNTY OF WELD, a political subdivision of the STATE OF COLORADO, by and through the Board of County Commissioners of the County of _ ,.. � � Weld ATTEST: '-'""l%utr/1/ r:. E • By: / �//� It:i- �;`�.�: � BUS .C.�- Deputy Cl irk t�'�, e ;rr �' �� Barbara Kirkme er, Chair l '�"►' SEP 3 ! 2019 TENANT: HOUTCHENS, GREENFIELD, SEDLAK & ZACHEIS,LLC / • By: Title: (a✓ STATE OF COLORADO ) County of Weld ) ss. The foregoing instrument was acknowledged before me this S4'"day of August, 2019, by Birctvl tc n N-outilkkeva ton.b-6r for Houtchens, Greenfield, Sedlak&Zacheis, LLC. Witness my hand and official seal this ' 'day of Aktgast, A.D., 2019 Q ( 6(13Y44-- My commission expires: V Z(ill/ LINDA CORDOVA NOTARY PUBLIC STATE OF COLORADO NOTARY ID 20014026456 MY COMMISSION EXPIRES AUGUST 24,2021 THIRD AMENDMENT TO OFFICE LEASE AGREEMENT- HOUTCHENS, GREENFIELD, SEDLAK, AND ZACHEIS, LLC APPROVED AS TO FUNDING: APPROVED A TO SUBSTANCE: g,_414 Controller V Elect fficial or Department Head APPROVED AS TO FORM: County Attorney Hello