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2018-725-E Housing - Community Home Trust development agreement Lexes Trail
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2018-725-E Housing - Community Home Trust development agreement Lexes Trail
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Last modified
11/14/2018 11:49:13 AM
Creation date
11/6/2018 3:16:25 PM
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Contract
Date
11/5/2018
Contract Starting Date
11/5/2018
Contract Ending Date
11/4/2117
Contract Document Type
Agreement
Amount
$18,000.00
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R 2018-725 Housing - Community Home Trust development agreement Lexes Trail
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\Board of County Commissioners\Contracts and Agreements\Contract Routing Sheets\Routing Sheets\2018
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7.2 CONSTRUCTION AND ALTERATION: Lessee may make new improvements or <br />alter existing improvements on the Leased Premises upon the following conditions: <br /> (a) Lessee will bear all costs of construction; <br />(b) All construction will be performed in a worker like manner and in compliance with all <br />applicable laws and regulations; <br /> (c) All construction will be consistent with the permitted uses set forth in Article 4; <br />(d) Lessee will furnish to Lessor a copy of any plans and all building permits for the <br />construction prior to commencing construction. <br />(e) Lessee may not change the exterior building envelope of the Improvements without <br />the prior written consent of Lessor. <br />Lessee acknowledges that he/she will not recover any increase in the market value of the <br />Property resulting from any improvements he/she might make on resale of the Property. <br /> 7.3 PROHIBITION OF LIENS: Lessee will procure the record discharge of any claim of <br />lien including but not limited to mechanic’s or materialman’s claim of lien which might be filed <br />against the Leased Premises within sixty (60) days of its filing. If Lessee fails to procure the <br />record discharge of a claim of lien within the time allowed, Lessor may, but is not obligated to, <br />discharge the same by paying the amount in question. Lessee may contest the validity of any <br />lien asserted so long as Lessee furnishes a bond in an amount sufficient to release the Leased <br />Premises from the lien. Any amounts paid by Lessor hereunder in respect of the liens will be <br />deemed an additional Ground Lease Fee payable by Lessee upon demand. <br /> <br /> 7.4 MAINTENANCE AND SERVICES: Lessee will, at Lessee’s sole expense, maintain <br />the Leased Premises as required by section 4.2 above. Lessor will not be required to furnish any <br />services or facilities, including but not limited to heat, electricity, air conditioning, or water, or to <br />make any repairs to the Leased Premises, and Lessee hereby assumes the sole responsibility for <br />furnishing all services or facilities. <br /> <br /> 7.5 DISPOSITION OF LEASED PREMISES UPON EXPIRATION OF LEASE TERM: <br />Upon the expiration of the term of this Lease as such term may be extended or terminated in <br />accordance with this Lease, Lessee will surrender the Leased Premises to the Lessor. The <br />exclusive right to possess the Leased Premises will thereupon revert to Lessor, provided, <br />however, that Lessor will promptly pay to Lessee as consideration for the Leased Premises an <br />amount equal to Lessor’s Resale Formula Price calculated in accordance with Article 10 below, <br />as of the time of reversion of ownership, less the total amount of any unpaid Ground Lease Fee <br />including any charges that may have been added to the Ground Lease Fee in accordance with this <br />Lease. <br /> <br />ARTICLE 8: Financing <br /> 8.1 PERMITTED MORTGAGE: Lessee may mortgage his or her interest in the Leased <br />Premises with the written consent of Lessor. Lessor will be required to consent to a proposed <br />mortgage only if: <br /> (a) All mortgage documents, which must be submitted to Lessor ten (10) days in advance <br />of closing, are in a form acceptable to Lessor; <br /> (b) Lessee is not in default on any obligation under this Lease; <br />DocuSign Envelope ID: 1C608BEC-B713-4BE4-9E53-CD92D598627F
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