HomeMy WebLinkAbout1305 Consent to Lease True North Industrial Realty BILL NO. 2014-032 ORDINANCE NO. /31)5
AN ORDINANCE AUTHORIZING THE EXECUTION AND DELIVERY OF A CONSENT TO
LEASE BETWEEN THE CITY OF RIVERSIDE, MISSOURI, HORIZONS OFFICE I, LLC, AND
TRUE NORTH INDUSTRIAL REALTY, LLC
WHEREAS, pursuant to that certain Lease Agreement between the City of Riverside,
Missouri ("City') and Horizons Office I, LLC ("Horizons'), authorized by Ordinance No. 1215 on
June 4, 2013, such Lease Agreement being dated August 1, 2013 (the "Prime Lease'), the City
leases to Horizons the property located in the Horizons Industrial Park in Riverside, Missouri
having the following legal description:
Lot 1 of Horizons Office One, a Replat of Lot 17, Riverside Horizons East First
Plat, a subdivision in Riverside, Platte County, Missouri, according to the
recorded plat thereof (the 'Property'); and
WHEREAS, pursuant to a certain Commercial Lease Agreement between Horizons and
True North Industrial Realty, LLC ("True North"), Horizons leases to True North a portion of the
Property; and
WHEREAS, as contemplated by Section 13.1(b) of the Prime Lease, the City, Horizons,
and True North desire to enter into the Consent to Lease attached hereto as Exhibit A and
incorporated herein (the "Consent to Lease'); and
WHEREAS, the Board of Aldermen find it to be in the best interests of the City in order
to further the objectives of industrial and economic development of the City, and the terms and
conditions of the Prime Lease, as well as in furtherance of the objective to protect the health,
safety, and welfare of the businesses and citizens of the City, to enter into and deliver the
Consent to Lease as set forth herein.
NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE
CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS:
Section 1. CONSENT TO LEASE APPROVED. In order to further the objectives of
industrial and economic development of the City, and the terms and conditions of the Prime
Lease, as well as in furtherance of the objective to protect the health, safety, and welfare of the
businesses and citizens of the City, the Consent to Lease attached hereto as Exhibit A and
incorporated herein is hereby approved.
Section 2. AUTHORITY GRANTED. The City hereby authorizes the Mayor of the
City to execute and deliver the Consent to Lease, consistent with the terms of this Ordinance
and Missouri law, and hereby authorizes the Mayor, the City Administrator, Special Counsel to
the City and other appropriate City officials to take any and all actions as may be deemed
necessary or convenient to carry out and comply with the intent of this Ordinance and to
execute and deliver for and on behalf of the City all certificates, instruments, agreements and
other documents, as may be necessary or convenient to perform all matters herein authorized.
Section 3. EFFECTIVE DATE. This Ordinance shall be in full force and effect from
and after its passage and approval.
WA 5024049.1
BE IT REMEMBERED that the above was read two times by heading only, PASSED AND
APPROVED by a majority of the Board of Aldermen and APPROVED by the Mayor of the City
of Riverside, Missouri, this 15`" day of April, 2014. ia W���-no I
Ka hleen L. Rose, Ma or
ATTEST:
lloibin Littrell, City Clerk
Approved as to form:
Spencer ne Britt & Browne LLP
Speciar-0 unset to the City
by Joe Bednar
2 WA 5024049.1
EXHIBIT A
CONSENT TO LEASE
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WA 5024049.1
CONSENT TO LEASE
This CONSENT TO LEASE is entered into by the City of Riverside, Missouri (the "City"),
Horizons Office I, LLC, a Missouri limited liability company ("Horizons"), and True North Industrial
Realty, LLC a Missouri limited liability company("Tenant')as of the J!5!day of April,2014.
WHEREAS, pursuant to a certain Lease Agreement, dated August 1, 2013, between the City and
Horizons (the "Prime Lease"), the City leased to Horizons the property located in the Horizons Industrial
Park in Riverside, Platte County,Missouri(the"Property") and having the following legal description:
Lot 1 of Horizons Office One, a Replat of Lot 17, Riverside Horizons East First Plat,a
subdivision in Riverside, Platte County, Missouri, according to the recorded plat thereof.
WHEREAS, pursuant to a certain Commercial Lease Agreement between Horizons and Tenant
(the"Sublease"), Horizons leased to Tenant a portion of the Property; and
WHEREAS, as contemplated by Section 13.1(6) of the Prime Lease, the parties desire to enter
into this Consent to Lease;
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 discharge Horizons from its
primary liability for the payment of Basic Rent and Additional Rent under the Prime Lease and the
performance of each and all of the covenants and agreements contained in the Prime Lease.
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 Sublease and the
Sublease shall continue in full force and effect on the same terms and conditions as set forth in the
Sublease as a direct lease between the City and Tenant, with the same force and effect as if the City had
originally entered into the Sublease as landlord thereunder, and Tenant shall not be named or joined in
any action to terminate the Prime Lease or to recover possession of the Property, for so long as no Event
of Default shall then be occurring under the terms of the Sublease on behalf of Tenant.
[SIGNATURE PAGES FOLLOW]
11893/054/LEASES/00837351;1 I
1
LANDLORD:
HORIZONS OFFICE I, LLC,
a Missouri limited liability company
By: NorthPoint Development,LLC,
a Missouri limited liability company
By:
Name: Nathaniel Hage M —
Title: Manager
TENANT:
TRUE NORTH INDUSTRIAL REALTY, LLC,
a Missouri limited liabi ' company
.'&/e/;1,
Name:
Title:
)1893/054/LEASES/00837351;1 )
2
CITY:
CITY OF RIVERSIDE, MISSOURI
By:
Kath R e, Mayor
ATTEST:
Robin Littrell;City Clerk
(1893/054/LEASES/00837351;1 E
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