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O-2008-2970-A amend lease agreement/Economic Alliance Houston Port Region for 908 Main Street Building (original in 2007)
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O-2008-2970-A amend lease agreement/Economic Alliance Houston Port Region for 908 Main Street Building (original in 2007)
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Last modified
11/2/2016 3:39:25 PM
Creation date
2/27/2008 9:32:16 AM
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Legislative Records
Legislative Type
Ordinance
Date
2/11/2008
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<br />Exhibit C <br />Monetary Value, Credits, Terms, Other Defined <br /> <br />In accordance with Section 6."Alterations and Improvements", of this Lease Agreement, the Landlord and <br />Tenant agree on the following with respect to the monetary value, credits, and terms of the leasehold <br />improvements: <br /> <br />Credit <br /> <br />Leasehold Improvements by Tenant are a credit to the Tenant (+) <br />Oeliverables/Services Provided by Tenant are a credit to the Tenant (+) <br />Additional space provided by Landlord to Tenant is a credit to the Landlord (-) <br />Utilities paid by Landlord are a credit to the Landlord (-) <br />Equal (=) Total balance due to Tenant by Landlord <br /> <br />Value <br /> <br />To insure proper credit to the Tenant by the Landlord, when making any improvements to the building the <br />Tenant will insure that work completed will be verified by sworn affidavit and certification from the <br />Contractor/Builder as to the work scope of work completed and the net present value of the work, <br />including the prevailing wages for the labor utilized. <br /> <br />Terms <br /> <br />All credits due to Tenant for building improvements at 908 Main and for 912 Main fayade and/or building <br />improvements are forfeited at the end of the term of this lease if another lease is not executed by the <br />parties. <br /> <br />Other <br /> <br />Landlord has been notified and understands that the Tenant intends, with City Council approval, to make <br />available to the Landlord funds for 912 Main for fac;ade and/or building improvements. Landlord hereby <br />agrees to give additional monetary credits to the Tenant over the term of this lease in an amount not to <br />exceed the monies given or agreed to in writing by both parties for such fac;ade and/or building <br />improvements. Such credit due to the Tenant by the Landlord for the 912 Main location will be addressed <br />under separate written contract agreed to by both parties <br /> <br />10 <br />
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