HomeMy WebLinkAboutLease Agreement for 623 & 623 1_2 Howard StreetFIRST AMENDMENT TO LEASE AGREEMENT
THIS FIRST AMENDMENT to the LEASE AGREEMENT (this "First
Amendment") is made as of the �= day of Nht&U2011, by and between THE CITY OF
EVANSTON, an Illinois municipal corporation (hereinafter referred to as "Lessor") and
EXCLUSIVE MERCHANDISE MART, INC. (hereinafter referred to as "Lessee"). The
Lessor and Lessee shall be referred to collectively as the "Parties".
WITNESSETH
WHEREAS, the Lessor purchased the real property and premises located at 623-627 '/2
Howard Street, Evanston, Illinois (the "Real Estate") on October 13, 2011 from your previous
landlord; and
WHEREAS, the Lessor assumed the commercial lease dated July 1, 2009, which expired
on June 30, 2011, during the transaction for 623-623 %2 Howard Street, Evanston, Illinois (the
"Leased Premises"); and
WHEREAS, the Lease Agreement for the Leased Premises is now a month -to -month
tenancy given that the yearly tenancy expired; and
WHEREAS, Lessor and Lessee desire to modify certain terms of the Agreement with
respect to the parties, term, notice provsisions and security deposit, subject to the terms,
covenants and conditions of this First Amendment.
NOW THEREFORE, in consideration of the mutual observance of the covenants,
conditions and promises set forth below and in consideration of the lease of the Real Estate, of
TEN DOLLARS ($10.00) and for additional consideration, the receipt and sufficiency of which
are hereby mutually acknowledged, the parties agree as follows:
I. AGREEMENT IN FULL FORCE AND EFFECT; DEFINITIONS
The Parties acknowledge and agree that this First Amendment shall supercede, control
and be deemed to modify the terms of the Agreement. In the event of any conflict between the
terms and conditions of this First Amendment and the terms of the Agreement, the parties
unconditionally agree that the terms and conditions of this First Amendment shall supercede,
prevail and dictate. Any term or condition of the Agreement not addressed within this First
Amendment shall remain in full force and effect. The above -referenced recitals are incorporated
herein.
II. TERM OF LEASE
The Paragraph entitled "Term of the Lease" shall be redacted in full and replaced by the
following language:
"Term of Lease: This tenancy is a month -to -month tenancy and is not a yearly lease
agreement. The tenancy can be terminated with 30 days notice to either party."
III. LESSOR
The caption entitled "Lessor" shall be redacted in full and replaced with the following
language:
"Lessor Name: City of Evanston
Address: 2100 Ridge Avenue
City: Evanston, IL 60201"
IV. RENT AND SECURITY DEPOSIT
The first paragraph entitled "Rent" shall be amended to read "Rent and Security Deposit"
and the language of the agreement shall be redacted in full and replaced with the following
language:
"Lessee shall pay Lessor or Lessor's agent as rent for the Premises the sum stated above,
monthly in advance, until termination of this lease, at Lessor's address stated above or such other
address as Lessor may designate in writing. The Lessor was NOT assigned a security deposit
for the Lessee (the "Security Deposit") from the previous landlord. The Lessor will not be
requiring a security deposit."
V. COUNTERPARTS
This First Amendment may be executed in several counterparts, each of which shall be
deemed an original, and all of which shall constitute but one and the same instrument. For
purposes of this First Amendment, facsimile and scanned signatures shall be considered the same
as original signatures and shall be treated as valid and binding upon the parties hereto, provided,
however, the parties shall exchange original signature pages as reasonably promptly following
execution hereof
IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed the
day and year first above written.
CITY AOF EVANSTON EXCLUSIVE (MEERCHAANDISE MART, INC.
By: k� /�.A 1% C_ ,� (<� By:esiden(�V 8
� � v
Its: City Manager Its: Prt
Approved as to form:
In
W. Grant Farrar
Corporation Counsel