HomeMy WebLinkAbout2008-017
THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON
BY-LAW 2008-017
Being a By-law to authorize the execution of a Lease
Extension Agreement between the Corporation of the
Municipality of Clarington and the Theatre Dance Academy in
respect of a lease for space located in the Courtice
Community Complex, Courtice, Ontario.
THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON HEREBY ENACTS AS
FOLLOWS:
1. THAT the Mayor and Clerk are hereby authorized to execute, on behalf of the
Corporation of the Municipality of Clarington and seal with the Corporation Seal, a
Lease Agreement with Theatre Dance Academy and said Corporation; and
2. THAT the contract attached hereto as Schedule "A" form part of this By-law.
By-law read a first and second time this 28th day of January, 2008.
By-law read a third time and finally passed this 28th day of January, 2008.
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LEASE EXTENSION AND AMENDING AGREEMENT
THIS AGREEMENT made in quadruplicate as of the 30th day of January 2008.
BETWEEN:
THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON
(hereinafter called the "Landlord")
OF THE FIRST PART
- and -
THEATRE DANCE ACADEMY COMPANY LIMITED
(hereinafter called the "Tenant")
OF THE SECOND PART
WHEREAS by a Lease Agreement dated February 5th, 2003 (the "Original Lease"), the
Landlord lease unto Theatre Dance Academy Company Limited (the "Tenant") for a term
of Five (5) years commencing February 1st, 2003 and ending January 31st 2008 (the
"Term"), the premises more particularly described as comprising approximately Sixteen
Hundred (1,600) square feet (the "Leased Area"), in the building municipally known as The
Courtice Community Complex (the "Building"), in the Municipality of Clarington, in the
Province of Ontario (the "Lands").
AND WHEREAS the Original Lease and this Lease Extension and Amending Agreement
(the "Agreement") are hereinafter collectively referred to as the "Lease", except as
specifically set out herein;
AND WHEREAS the parties have agreed to extend and amend the Lease on the following
terms and conditions:
NOW THEREFORE THIS AGREEMENT WITNESSES THAT in consideration of the sum
of Two Dollars ($2.00) and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1) The parties hereto confirm that the foregoing recitals are true in substance and in
fact.
2) The Term of the License is hereby extended for a further term of five (5) years
commencing on February 1st, 2008 and ending on January 315\ 2013 (the "First
Extension Term"), at a Net Rent of $18,800.00 (eighteen thousand, eight hundred)
per annum which shall be payable in equal consecutive monthly instalments of
$1,566.66 (fifteen hundred and sixty six dollars and sixty six cents) in advance, on
the first calendar month of the term commencing on the commencement date. Net
Rent per annum of $18,800.00 (eighteen thousand, eight hundred) is based on
$11.75 (eleven dollars and seventy five cents) per square foot. per annum of the
rental of the area of the premises, being 1,600 square feet for the term February 15\
2008 to January 31st, 2013.
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3) The extension contemplated pursuant to this Agreement is subject to all the
covenants and agreements contained in the lease, as amended, renewed and
extended from time to time.
4) The Landlord and the Tenant hereby mutually covenant and agree that during the
First Extension Term they shall each perform and observe all the covenants,
provisos and obligations on their respective parts to be performed pursuant to the
terms of the Lease, as extended and amended hereby.
5) This Agreement shall not be binding upon the Tenant until it has been executed by
or on behalf of the Tenant.
6) Except as otherwise specifically provided in this Agreement, all words and
expressions used in the Lease shall apply to and be read as applicable to the
provisions of this Agreement.
7) The provisions of this Agreement shall be interpreted and governed by the laws of
the Province of Ontario.
8) This Agreement shall be binding upon and enure to the benefit of the
administrators, successors and lor assigns of the respective parties hereto.
IN WITNESS WHEREOF the parties hereto have executed this Agreement.
SIGNED, SEALED AND
DELIVERED
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THE CORPORATION QF..THE
MUNICIPALITY 0.1" ~tARf!'lGTON
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B. Szabunia-Forrest, Owner
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