HomeMy WebLinkAbout20173750.tiffTHIRD AMENDMENT TO BUSINESS PROPERTY LEASE
THIRD AMENDME} T TO BUSINESS PROPERTY LEASE (the "Amendment") is
made and entered into as of £j (3,-M017 by and between FIRST NATIONAL BANK
OF OMAHA, a national banking association whose mailing address for notice purposes is
Attention: Real Estate Department, 1620 Dodge Street STOP 1150, Omaha, Nebraska 68197-
1150 (herein, together with any entity succeeding thereto by consolidation, merger or acquisition
of its assets substantially as an entirety, called "LANDLORD") and WELD COUNTY PUBLIC
TRUSTEE, a government entity, whose mailing address for notice purposes is 1701 23`'
Avenue, Suite 250, Greeley, Colorado 80634 (herein, together with any entity succeeding thereto
by consolidation, merger or acquisition of its assets substantially as an entirety, called
"TENANT").
PRELIMINARY STATEMENTS
A. Landlord and Tenant entered into that certain Business Property Lease
dated September 15, 2011, that certain First Amendment to Business
Property Lease dated September 10, 2015 and that certain Second
Amendment to Business Property Lease dated September 14, 2016,
executed by and between Landlord and Tenant (the "Lease"), with respect
to certain office space located on the second floor of the building at 1701
23`d Avenue, Greeley, Colorado 80634 and consisting of approximately
2,102 square feet of area (the "Premises"), as more particularly described
in the Lease.
B. The term of the Lease (the "Lease Term) shall expire on October 31, 2017.
C. Notwithstanding the terms of the Lease, Tenant and Landlord have agreed
on the terms and conditions more specifically described herein to amend
the Lease in order to: (i) extend the Lease Term for a period of one (1)
year commencing on November 1, 2017 and ending on October 31, 2018
(ii) provide for the automatic renewal of the Lease after the Extended
Term for successive (1) year terms unless either party gives ninety (90)
days prior notice to terminate and (iii) provide that rent increases annually
by 3% during the first year extension and each one thereafter.
D. All capitalized terms not defined herein shall have the meanings ascribed
to them in the Lease.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained
herein and the mutual benefits to be gained hereby, the parties hereby agree as follows:
1. Lease Term. Landlord and Tenant hereby renew and extend the Lease Term for
a period of one (1) year commencing on November 1, 2017 and expiring on October 31, 2018
(the "Extended Term"), on the same terms, conditions and provisions as set forth in the Lease,
except the Rent shall be as set forth in this Amendment.
2. Lease Renewal. At the end of the Extended Term, the Lease shall renew
automatically for additional terms of one (1) year (collectively, the "Option Terms" and each, an
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2017-3750
"Option Term") unless either party provides at least ninety (90) days prior written notice of its
intent to terminate the Lease at the end of the then current term. The Lease shall be renewed on
the same terms, conditions and provisions as set forth in the Lease, with exception of Rent which
shall be as set forth in this Amendment.
3. Rent. The Rent (as defined in the Lease) payable during the Extended Term shall
be $13.39 per square foot or $2,345.48 per month and shall increase 3% each year thereafter.
4. Confirmation of Lease. Except as amended and modified herein, all of the
terms, conditions and provisions of the Lease are hereby ratified and confirmed.
5. No Default. Both parties agree that to the best of their respective knowledge,
neither party is in default under the Lease as of the date hereof.
4. Effect of Amendment on Lease. On and after the date of this Amendment, each
reference in the Lease to "this Lease," "hereunder," "hereof," "herein" or words of like import
referring to the Lease shall mean the Lease as amended by this Amendment.
5. Choice of Law; Successors and Assigns. This Amendment shall be governed by
the laws of the State of Colorado. This Amendment shall run to the benefit of, and be a burden
upon, the parties hereto and their respective successors and assigns.
6. Counterparts. This Amendment may be executed in one or more counterparts,
each of which shall be deemed an original, and all of which taken together shall constitute one
and the same instrument and be binding upon all parties hereto as if all had signed but one
counterpart.
IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of
the date first written above.
LANDLORD:
FIRST NATIONAL BANK OF OMAHA, a
national banking association
By: 4
Blenda Dooley
Senior Vice President
TENANT:
WELD CO
a Gove
By:
Weld inty Public Trustee
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