HomeMy WebLinkAboutR-2012-151 Consent to Lease Between Riverside, Horizons Industrial I, and Velociti RESOLUTION R-2012-151
A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A CONSENT TO
LEASE BETWEEN THE CITY OF RIVERSIDE, MISSOURI, HORIZONS INDUSTRIAL I, LLC
AND VELOCITI, INC. AND AUTHORIZING OTHER ACTIONS IN CONNECTION THEREWITH
WHEREAS, pursuant to a Lease Agreement dated April 1, 2012 between the City of
Riverside ("City") and Horizons Industrial I, LLC ("Horizons"), hereinafter referred to as the
"Prime Lease", the City leased to Horizons the property located at 4780 NW 41 Street
Riverside, Missouri (the "Property") and having the following legal description:
All of Lot 4, Riverside Horizons East First Plat, a subdivision in Riverside, Platte County,
Missouri according to the recorded plat thereof, recorded March 9, 2012 as Document
Number 2012003467, in Plat Book 21 at Page 10; and
WHEREAS, pursuant to a certain Standard Commercial Lease between Horizons and
Velociti, Inc. (the "TenanY'), Horizons leased to Tenant a portion of the Property (the
"Sublease"); and
WHEREAS, as contemplated by Section 13.1(b) of the Prime Lease, the parties desire
to enter into this Consent to Lease; and
WHEREAS, the Board of Aldermen find it to be in the best interests of the City and to
otherwise further the objectives of economic development within the City to enter into the
Consent to Lease as set forth herein.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF
THE CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS:
THAT It is in the best interests of the City and to otherwise further the objectives of
economic development within the City to enter into the Consent to Lease;
FURTHER THAT, the Consent to Lease between the City, Horizons and the Tenant is
hereby approved in substantially the form attached as Exhibit A and the Mayor is hereby
authorized to enter into, execute and deliver and the City Clerk is hereby authorized to attest,
such document with such changes herein as shall be approved by the officials executing such
document, such official's signature thereon being conclusive evidence of such official's approval
and the City's approval thereof.
FURTHER THAT the Mayor, City Administrator, City Attorney and other appropriate
officials and employees of the City are hereby authorized to take such further action and
execute and deliver such documents and instruments as may be necessary or desirable to carry
out and comply with the intent of this Ordinance on behalf of the City.
FURTHER THAT this Resolution shall be in full force and effect from and after its passage
and approvaL ,
; PASSED A'ND ADOPTED�� the Board of Aldermen and APPROVED by the Mayor of the
Cify of.River,�id'e, t�lissouri, the ✓� day of 012.
... ,. , .. _
An�� l' � hleen L. Rose, Mayor
'� �� ..� �
Robin L•ittrell,, City. Cie < Appr s to Form:
\ ,
an om son, City Attorney
EXHIBIT A
Consent to Lease
CONSENT TO LEASE
This CONSENT TO LEnss is entered into by the City of Riverside, Missouri (the "City"),
Horizons Industrial I, LLC ("Horizons") and Velociti, Ina (the "Tenant") as of the .S day of
October, 2012.
Wxsxens, pursuant to a certain Lease Agreement, dated April 1, 2012, between the City
and Horizons (the "Prime Lease"), the City leased to Horizons the property located at 4780 NW
41 Street, Riverside, MO 64150 (the "Property") and having the following legal description:
All of Lot 4, Riverside Horizons East First Plat, a subdivision in Riverside, Platte
County, Missouri, according to the recorded plat thereof, recorded March 9, 2012,
as Document No. 2012003467, in Plat Book 21 at Page 10.
WxExEns, pursuant to a ceRain Standard Commercial L.ease between Horizons and
Tenant (the "Sublease"), Horizons leased to Tenant a portion of the Property; and
WxEREns, as contemplated by Section 13.1(b) of the Prime I,ease, the parties desire to
enter into this Consent to L.ease;
Now THEREFORE in consideration of the promises and covenants contained herein, and
other good and valuable consideration, the receipt and adequacy of which is hereby
acknowledged, the parties agree as follows:
1. The City hereby consents to the Sublease.
2. Horizons acknowledges that the Sublease shall not release or dischazge Horizons
from its primary liability for the payment of Basic Rent and Additional Rent under the Prime
Lease and [he performance of each and all of the covenants and agreements contained in the
Prime L.ease.
3. In the event that the Prime Lease, and the leasehold estate of Horizons created
thereunder, is terminated by the City by summary proceedings or otherwise in accordance with
the terms of the Prime Lease, then such termination shall not result in a termination of the L,ease
and the Lease shall continue in full force and effect on the same terms and conditions as set forth
in the L.ease as a direct lease between the City and the Tenant, wiffi the same force and effect as
if the City had odginally entered in the L.ease as landlord thereunder, and Tenant shall not be
named or joined in any action to terminate the Prime L.ease or to recover possession of the
Leased Premises, for so long as no Event of Default shall then be occumng under the terms of
the L.ease on behalf of the Tenant.
[SIGNATURE PAGES FOLLOW]
�PJDOCS/1893N28N116746462 �
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LANDLORD:
HORIZONS INDUSTRIAL I LLC
a Delaware limited liability company
By: THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY,
a Wisconsin corporation, a Member
By: NORTHWESTERN MUTUAL REAL ESTATE INVESTMENTS, LLC,
a Delawaze limited liability company
Its: Wholly-owned Affiliate and Authorized Representative
B
� KK
G �jory J. Walz
Printed Name: �..
Its: Managing Director
By: NORTHPOINT HOLDINGS LLC,
a Missouri limited liability company, a Member
By:
Nathaniel Ha o , Manager
TENANT:
VELOCTTI, INC.
a Nevada corporation
By: {' � � �
Michael L. Kahn, President & CEO
�PJDocs/1893/028/0116746a62 �
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CITY:
� CTTY OF RNERSIDE, MISSOURI
By:
Kathy se, Mayor
ATTEST:
�
� S
: Rabin Littrell,.City Clerk
._' , ' ,
. , �
,
�PJDOCS/1893/028/006746462 I
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