FOURTH AMENDMENT TO COMMERCIAL LEASE AGREEMENT
THIS FOURTH AMENDMENT TO COMMERCIAL LEASE AGREEMENT is made this ___ day of September, 2017, “the Effective Date”, by and between Riverfront, L.L.C., a Kansas Corporation, c/o Dan C. Simons, Member, P.O. Box 1797, One Riverfront Plaza, Lawrence, Kansas, 66044, hereinafter referred to as “Lessor” and the City of Lawrence, Kansas, a Kansas municipal corporation, c/o Tom Markus, City Manager, City Hall, 6 E 6th Street, Lawrence, Kansas, hereinafter referred to as “Lessee”.
RECITALS
WHEREAS, Lessor and Lessee heretofore entered into that certain “Lease” executed and effective as of September 1, 2008, for the lease of the East lower level floor, containing 6,486 square feet, in a building constructed on the real property described as One Riverfront Plaza, Suite Number 110, and further described in Exhibit B of the original Lease in the City of Lawrence, Douglas County, Kansas;
WHEREAS, the parties executed a First Amendment to Commercial Lease dated June 22, 2010, extending the lease expiration date to August 31, 2014, establishing the annual rent during the extended term, and providing Lessee with a two-year option after the expiration of the extended term;
WHEREAS, the parties executed a Third Amendment to Commercial Lease dated July 22, 2016, extending the lease expiration date to August 31, 2017, to provide Lessee with greater flexibility as Lessee explores merging the Planning and Development Services offices into a single facility; and
WHEREAS, the parties desire to further amend the lease and the First Amendment to Commercial Lease and the Second Amendment to Commercial Lease and the Third Amendment to Commercial lease to provide Lessee with further flexibility as Lessee continues to explore merging the Planning and Development Services offices into a single facility.
NOW THEREFORE, for and in consideration of the Premises, the mutual covenants and agreements herein contained, and other good and valuable consideration, the receipt of which are hereby acknowledged and confessed by each of the parties hereto, Lessor and Lessee hereby agree as follows:
TERMS
1. The term of the Lease shall be extended to August 31, 2018.
2. The annual base rent shall remain at $67,778.70, to be paid in monthly installments of $5,648.22, through the expiration of the term or the vacation of the leased premises in accordance with Section 3 hereof, which shall occur first.
3. The parties agree that Lessee may, upon 30-days’ notice to Lessor, vacate the leased premises earlier than August 31, 2018, without penalty of any kind, if the Lessee leases other office space from Lessor on the west side of One Riverfront Plaza.
4. All other terms and conditions of the Lease, First Amendment to Commercial Lease, Second Amendment to Commercial Lease, and Third Amendment to Commercial Lease, not expressly modified herein, are hereby reaffirmed and shall remain in full force and effect.
IN BEHALF OF THE LESSOR:
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Riverfront, L.L.C. by Dan C. Simons, Member
IN BEHALF OF THE LESSEE:
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Thomas M. Markus, City Manager