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Home My WebLink About2011-184FILE REFERENCE FORM 1 2011-184 X Additional File Exists Additional File Contains Records Not Public, According to the Public Records Act Other FILE(S) Date Initials First Amendment to Agreement - Ordinance 2017-052 02/21/17 JR SALegal\0ur Documents\Ordinances1111Wells Fargo -Williams Trade Square.doc ORDINANCE NO. 2011-184 AN ORDINANCE APPROVING A LEASE AGREEMENT WITH WELLS FARGO BANK FOR PARKING LOT SPACES LOCATED AT THE WILLIAMS TRADE SQUARE, PRO- VIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, Wells Fargo Bank has leased 58 parking spaces on the Williams Trade Square ("Square") from the City for the past eight years; and WHEREAS, the Lease Agreement between the City of Denton and Wells Fargo Bank has expired and the new Lease Agreement provides Wells Fargo Bank the same 58 parking spaces; NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS: SECTION 1. The City Manager of the City of Denton, Texas, is hereby authorized to ex- ecute a lease agreement between the City of Denton and Wells Fargo Bank to lease 58 parking spaces in the "Williams Trade Square," a copy of which Lease Agreement is attached hereto and incorporated by reference herein. SECTION 2. This Ordinance shall become effective immediately upon its passage and approval. PASSED AND APPROVED this the '`1 day of edaky , 2011. ATTEST: JENNIFER WALTERS, CITY SECRETARY AP'PIROVED A'S TO LEGAL FORM: ANITA BURGESS, CITY ATTORNEY BY: j sAegahour documents\contracts\l I\wells fargo bank parking lease agreement.doc LEASE AGREEMENT This Agreement is made and entered into by and between the City of Denton, Texas, hereinafter referred to as Lessor, and Wells Fargo Bank, N.A., (successor in interest to Wells Fargo Bank, Texas N.A. through consolidation), hereinafter referred to as Lessee to be effective as of the Effective Date as provided herein. For and in consideration of the mutual covenants contained herein, and other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Lessor leases to Lessee and Lessee leases from Lessor 58 parking spaces at the Williams Trade Square located in the City of Denton, Texas, which parking spaces are more particularly described and depicted as spaces 1 through 58 in Exhibit "A" attached hereto and made a part hereof by reference (the "Lease Premises") for an initial lease period of 12 months commencing on the 1st day of October, 2011 and ending on September 30, 2012 (the "Initial Term"), at a monthly rate of Seventeen Dollars and Fifty Cents ($17.50) for each parking space for a total annual rent of Twelve Thousand, One Hundred Eighty Dollars and no/Cents ($12,180). The Lease Premises may only be used as a parking lot for motor vehicles. 2. Lessee shall pay the rent annually with the annual rent for the first year of the Initial Term to be due and payable within fifteen days after the Date of Execution of this lease agreement provided below. The rental rate for the Option Terms will be as provided in Section 4 below. 3. Lessee agrees to (i) allow Lessor to have free access to the Lease Premises; (ii) to leave the Lease Premises, on termination of the lease agreement, in good repair, and (iii) not assign its leasehold interest or sublet the Lease Premises or any part thereof without the prior written consent of Lessor. Lessee shall indemnify, hold harmless and defend Lessor from any and all claims, actions, causes of action, liability, damages or loss resulting from the use of the Lease Premise. Further, the City assumes no responsibility or liability for harm, injury, or any damaging events which are directly or indirectly attributable to Premises defects which may now exist or which may hereafter arise upon the premises, responsibility for any and all such defects being expressly assumed by the Contractor. Lessor shall maintain liability insurance throughout the Initial Term and Option Terms in the manner provided in the "Insurance Requirements" which are attached hereto and made a part hereof as Exhibit `B". 4. Lessee shall have the option to extend this Lease for seven (7) successive terms of twelve (12) months each at such rental that the City Manager shall establish. To exercise the option to extend, Lessee shall give Lessor sixty (60) days written notice of its intent to renew the Lease. Upon receipt of such notice, the City Manager shall give Lessee written notice of the increase, if any, in rental. Increases in rental shall be based upon economic conditions. 5. Notwithstanding anything contained herein to the contrary, the Lessor may terminate this lease agreement, including and extension thereof, at any time by giving Lessee 90 days advance written notice of termination. In such case, the Lessor shall refund to Lessee those portions of annual rental already paid that are attributable to the time period after termination. sAlegal\our documents\contracts\l l\wells fargo bank parking lease agreement.doc 6. All notices and payments may be sent to the Lessor and Lessee at the following addresses, except that notices may be sent via facsimile to the fax nos. below: To Lessor: City of Denton Attention: City Manager 215 E. McKinney Denton, Texas 76201 Fax No. 940.349.7206 To Lessee: Wells Fargo Corporate Properties Group Attn: Manager (BE# 101374) MAC Q2129-113 200 Lomas Blvd., NW Suite 1110 Albuquerque, NM 87102 Copy to: Wells Fargo Corporate Properties Group Attn: Lease Administration (BE# 101374) MAC D 1116-L 10 1525 West W.T. Harris Blvd. Charlotte, NC 28262 7. This lease agreement shall be construed and enforced under the laws of the State of Texas and is fully performable in Denton County, Texas. Exclusive venue for any suit under or arising under this lease agreement shall be Denton County, Texas. ,,The parties hereto have executed this Lease Agreement on the // day of 2011 (the "Date of Execution") to be effective as of October 1, 2011 (the "Effective Date"). ATTEST: JENNIFER WALTERS, CITY SECRETARY BY. " --, /� )a AP OVED A TO FORM: ANITA BURGESS, CITY ATTORNEY BY: CITY OF DENTON, TES GEO GE C. CAMPBELL CITY MANAGER Page 2 s:llegallour documentslcontracts1111wells fargo bank parking lease agreement.doe ATTEST: BY: l( APPROVED AS TO FORM: WELLS FARGO BANK, TEXAS, N.A. BY: G IL IAMS VICE PRESIDENT & MANAGER BY: 6,96 BOB WILLIAMS NEGOTIATOR Page 3 o d O tRD M Fi R rt A ry FA ry O14 H C d H � 1 pi C F~+• � i C I i "a as o: b of tR � 00 • I• i ti w 1 51 \I V# V� q 4D N �• W i rl � 0 � A V. oe G. n pi it�i► i`�m o owre , N .• S N u J ►-+ O N �a A PC top N � y oc .�ir6 — r , CD J '.•9• to I � Q: ib ito M F-+ r* Q, iµ A j •� O CD . "\co C �� fb Cryy, co 03 / w HICKORY ST. ' •�i salegahour documents\eontracts\l 1\wells fargo bank parking lease agreement.doc EXHIBIT B GENERAL REQUIREMENTS The Contractor must maintain the types and amounts of required insurance throughout the term of the Contract. Contractor is solely responsible for providing a certificate of insurance evidencing the required coverage types and amounts. The City may terminate this contract if Contractor fails to timely comply with these requirements. Required insurance must be issued by a company or companies of sound and adequate financial responsibility and authorized to do business in the State of Texas. All policies are subject to examination and approval by the City's office of Risk Management for their adequacy as to content, form of protection, and providing company. Required insurance naming the City as additional insured must be primary insurance and not contributing with any other insurance available to City, under any third party liability policy. 2. ADDITIONAL REQUIREMENTS The required liability insurances and their certificates must: A. Name the City as an additional insured with respect to operations for which this contract is made. B. Provide for 30-day advance written notice of cancellation or material change. Type Amount 1. Commercial (Public) Liability $500,000 combined single including but not limited to: limit for bodily injury Premises/Operations and property damage Independent Contractors (per occurrence) Products/Completed Operations Contractual Liability Page 4