HomeMy WebLinkAbout59- Security Building Inc. Lease
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LEASE
THIS AGREEMENT, Made and entered into this 1st day of August
A. D. 1959, by and between SECURITY BUILDING, INC., a Montana
corporation, having its principal place of business at Bozeman,
Montana, hereinafter referred to as the Lessor, and the CITY OF
BOZEMAN, a municipal corporation in Gallatin County, Montana, here-
inafter referred to as the Lessee;
WIT N E SSE T H:
1. That the Lessor is the owner and in possession of the
following described real estate situate in the City of Bozeman,
Gallatin County, Montana, to-wit:
Lots Twenty-nine (29), Thirty (30), Thirty-one (31)
and Thirty-two (32) and the East 3.5 feet of Lot
Thirty-three (33) of Block C of the Original Town-
site of Bozeman, Montana;
and hereby agrees to let the sarne to the Lessee for a period of
three (3) years from the 1st day of August 1959 to the 1st day of
August 1962, in consideration of the Lessee paying to the said
Lessor the sum of SIXTY DOLLARS ($60.00) per month,payable in ad-
vance on or before the tenth day of each month, commencing the
1st day of August 1959, and monthly thereafter during the term of
this lease:
2. It is understood and agreed that the said Sixty Dollars
($60.00) per month paid in advance shall be paid by the Lessee by
warrants of the said City of Bozeman, Montana, mailed to the Lessor
at Post Office Box 147, Bozeman, Montana.
3. It 1s understood and agreed that the Lessee intends to
and will use the said property for the purposes of a municipal
parking lot and the Lessee further agrees that it will save the
Lessor harmless on account of any accidents or liability in any
manner which might be caused or incurred by the use thereof for the
duration of this Lease.
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4. The Lessee further agrees to pay all maintenance and
upkeep, including all utilities, if any, which may be purchased
or used in connection with the operation of the said premises
above described: and the Lessee further agrees to maintain the
premises in an orderly manner and to remove all ice, snow and
debris from the way on the sidewalks adjacent to the above de-
scribed tract. The Lessor agrees to pay all taxes and assess-
ments which may be legally assessed and levied as against the above
described property for the duration of this Lease.
5. The Lessee agrees not to assign or sub-let this Lease
or the premises or any part thereof for the duration of this
Lease without the express written consent of the Lessor. The
Lessee agrees not to place any appurtenances or improvements upon
the above described property excepting such as may be necessary in
the operation of the said parking lot including rails, parking
meters or such other incidental use items in the operation of the
."premises as a parking lot. It is further understood that at the
termination of this Lease, the Lessee may remove all appurtenances
which it may have placed upon the premises during the term of this
Lease. It is agreed that said removal shall be made before or with-
in ten (10) days after termination of this Lease or sarne shall be-
come appurtenant to and a part of the premises and revert to the
Lessor as abandoned property.
6. It is further understood by and between the parties hereto
that if the said monthly rental payments, or any of them, whether
the same be demanded or not, are unpaid as when they become due or
if the Lessee otherwise fails to perform the conditions herein con-
tained, then this Lease shall become null and void as far as any
interest of the Lessee is concerned and the Lessor shall have the
right to re-enter the premises and resume possession to have and to
hold the sarne as fully and completely as if the term herein specified
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had expired by lapse of time and such termination shall in no
manner operate as a forfeiture of any rent due or covenanted to
become due to the Lessors as agreed by the covenants herein con-
tained; provided, however, that the Lessor shall give the Lessee
thirty daysl notice in writing advising the Lessee of the nature
of breach, during which said thirty (30) days the Lessee may per-
form such condition broken, or conditions broken, and continue
under the terms of this Lease.
7. It is further understood and agreed that upon the expir-
ation of the aforementioned term of this Lease the same may be
renewed automatically for successive periods of one (1) year there-
afterJ provided, however, that at any time during the term of such
renewals the lease may be cancelled by either party upon sixty (60)
daysl written notice to the other party.
8. It is further understood and agreed that in order to
property utilize the above described area for a public parking
,~"lot, it will be necessary to provide two entrances to said lot from
Babcock street, and the Lessor hereby agrees to install said
approaches in such locations as may be specified by the City
Engineer of the City of Bozeman.
9. It is understood and agreed that this agreement shall be
binding upon the successors and assigns of each of the parties
hereto..
IN WITNESS WHEREOF, the Security Building, Inc.. has caused
its corporate name to be subscribed and its corporate seal to be
~ffixed.py. its proper officers thereunto duly authorized, and the
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City of Boze~an has hereunto set its hand by its Mayor and Clerk
of the c~~y~commission, each thereunto duly authorized,and has
caused it$c.Grporate seal to be affixed, both as of the day and year
fir-s1: "h~,~einbefore written.
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