HomeMy WebLinkAboutMO #2544MUNICIPAL ORDER NO. 2544
A MUNICIPAL ORDER AUTHORIZING THE MAYOR TO EXECUTE
A LEASE EXTENSION AGREEMENT BETWEEN THE CITY OF PADUCAH AND
THE W. C. YOUNG COMMUNITY CENTER FOR LEASE OF PROPERTY
LOCATED AT 505 SOUTH 8ch STREET
WHEREAS, on July 18, 2011, the City of Paducah entered into a Real
Estate Lease with the W. C. Young Community Center, authorized by Municipal Order
No. 1619; and
WHEREAS, the term of this Lease began on July 1, 2011, and terminated
on June 30, 2015, with the possibility of two additional three-year terms; and
WHEREAS, the parties are now desirous of extending this lease and the
new tern will terminate on June 30, 2023.
BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the Mayor is hereby authorized to execute a Lease
Extension Agreement, in substantially the form attached hereto and made part hereof
(Exhibit A), between the City of Paducah, Kentucky, and the W.C. Young Community
Center for the property located at 505 South 8a' Street.
SECTION 2. All other terms and conditions of the original Real Estate
Lease dated July 18, 2011, shall remain in full force and effect.
SECTION 3. This Order shall be in full force and effect from and after
the date of its adoption. 4
George Bray M
ATS
�LFIi�'
Lindsay ParisgCity Clerk
Adopted by the Board of Commissioners, February 8, 2022
Recorded by Lindsay Parish, City Clerk, February 8, 2022
\mo\Lease — WCYoung Community Center Extension 2022
EXHIBIT A
LEASE EXTENSION AGREEMENT
W.C. YOUNG COMMUNITY CENTER
This Lease Extension Agreement is hereby made between the CITY OF PADUCAH, a
municipal corporation, existing under the laws of the Commonwealth of Kentucky, a body politic
and corporate, of 300 South 5' Street, Paducah KY 42003, hereinafter ("Lessor"), and the W.C.
YOUNG COMMUNITY CENTER, hereinafter ("Lessee") on this the day of
2022.
WITNESSETH:
WHEREAS, Lessor and Lessee entered into a certain lease agreement dated July 1, 2011,
regarding the property known as the W.C. Young Community Center Building, located at 505
South 8s` Street, hereinafter ("Premises"); and
WHEREAS, in accordance with the Term and Renewal Terms of said agreement, the lease
terminated on June 30, 2015 and was extended for two additional three-year terms ending on June
20, 2021; and
WHEREAS, Lessor hereby wishes to enter into a Lease Extension Agreement with Lessee to
extend the lease term to June 30, 2023.
NOW, THEREFORE, in consideration of the premises and of the sum of two dollars ($2.00)
payable by the Lessee to the Lessor, said Lease is hereby extended and modified as follows:
1. The Term of the Lease shall be extended until June 30, 2023.
2. Lessor and Lessee agree that the rental amount for the additional term shall be two
dollars ($2.00), of which one dollar ($1.00) shall be due at the date this Lease Extension
Agreement is executed and one dollar ($1.00) shall be due no later than June 30, 2022.
3. Except for the extension herein, all other terms and provisions under the Lease shall
remain in full force and effect. Accordingly, all parties do hereby ratify and reaffirm all
of such terms and provisions.
This Extension Agreement shall bind the heirs, executors, administrators and assigns of the
respective parties.
[See next page for signatures]
IN WITNESS WEREOF, Lessor hereto sets its hand this day of 2022.
LESSOR:
City of Paducah, Kentucky
By:
Title: Mayor
STATE OF KENTUCY )
COUNTY OF McCRACKEN )
Subscribed, sworn to, and acknowledged before me by George P. Bray, Mayor of City of
Paducah, Kentucky, on behalf of said entity, this day of , 2022.
My commission expires
Notary Public, State at Large
Notary ID No:
LESSEE:
W.C. Young Community Center
By: _
Title:
STATE OF KENTUCY )
COUNTY OF McCRACKEN )
Subscribed, sworn to, and acknowledged before me by
(title) of W.C. Young Community Center, on behalf of said entity, this day
of 2022.
My commission expires
Notary Public, State at Large
Notary ID No: