04-10-1990 ABCRA LEASE AGSUBLEASE AGREEMENT
Agreement of Sublease, made the 10th day of
April , 19 90, between TOWN OF AVON, a
municipal corporation, having as its principal office
address Box 975, Avon, Colorado 81620, hereinafter referred
to as Landlord, and AVON BEAVER -CREEK RESORT ASSOCIATION, a
Colorado non - profit corporation, having as its principal
office address 400 Benchmark Road , Avon, Colorado
81620, hereinafter referred to as Tenant,
WITNESSETH, that the Landlord does hereby demise
and lease to the Tenant the space outlined on the drawing
attached as Exhibit "A" being a portion of an addition to be
constructed onto the existing City Market building located
in the Town of Avon, County of Eagle and State of Colorado.
Said demised premises shall contain approximately 993
square feet of floor space. The demised premises shall be
for the exclusive use of the Tenant, its agents, servants
and invitees for any lawful purpose, upon the following
terms, covenants and conditions:
1. TERM. The term of this lease shall be five
(5) years commencing the date of delivery of possession.
2. RENT. The Tenant shall pay as rent the sum of
FIVE DOLLARS ($5.00), which shall be due on the date of
delivery of possession.
3. REPAIRS; REMEDIES OF TENANT FOR LANDLORD'S
DEFAULT; HEAT; UTILITIES. The Tenant shall make necessary
minor repairs to the interior of the premises. The Landlord
shall make or cause to be made all other repairs including
structural repairs, repairs to the exterior of the premises
including the roof, and repairs to the electrical, plumbing,
heating, air conditioning, sprinkler and hot water systems.
The Landlord shall also make or cause to be made any repairs
or changes which may be necessary to make the premises and
the use herein contemplated comply with applicable laws,
ordinances, orders or regulations of any federal, state,
county or municipal authority now or hereafter in effect.
The Landlord, whenever the weather shall require, shall heat
the premises. The Landlord shall pay all charges for water,
electricity and gas supplied to the premises.
4. ASSIGNMENT OR SUBLETTING. The Tenant may not
assign or sublet the demised premises or any part thereof
without the written consent of the Landlord.
5. DESTRUCTION BY FIRE OR OTHER CASUALTY. If
during or prior to the term hereby granted, the premises
shall be damaged or destroyed by fire or other casualty, the
Landlord shall cause the same to be repaired and restored as
promptly as possible. If such damage or destruction: (a)
shall be so extensive that the cost of repair or restoration
would be in excess of 75% of the value of the demises
premises when restored; and (b) shall occur at a time when
the unexpired term of this lease shall be less than three
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years, this lease may terminate at the option of the Land-
lord.
6. RIGHT OF LANDLORD TO ENTER. The Landlord may
enter the demised premises during all reasonable business
hours to inspect the same or to exhibit the premises to
prospective tenants.
7. QUIET ENJOYMENT. The Landlord warrants and
covenants that the premises may be used for the purposes
herein contemplated throughout the term of this lease and
any extensions thereof. The Tenant shall quietly enjoy the
premises for the full term herein granted.
8. TITLE OF LANDLORD. The Landlord covenants and
warrants it has full right and lawful authority to enter
into this lease for the full term herein granted and that it
is not in breach of any term of the lease as to which it is
lessee and that during the term hereof it will fully and
promptly perform all the terms and conditions of said lease.
9. SUBORDINATION. This lease shall be subject
and subordinate to the lien of any first mortgage now
against said premises or which may hereafter be placed
against the demised premises.
10. CHANGES AND ALTERATIONS. The Tenant from
time to time, at its expense, may paint and decorate the
premises and make such nonstructural changes, alterations,
additions and improvements as will, in the judgment of the
Tenant, better adapt the same for the purpose of its busi-
ness. The Tenant may make structural alterations or
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additions only with the Landlord's approval, which approval
the Landlord will not unreasonably withhold or delay.
Tenant agrees to indemnify Landlord against any mechanic's
liens arising out of any improvements made hereunder.
11. SURRENDER. On the termination of the Ten-
ant's occupancy, the premises shall be surrendered in the
condition in which the Tenant is hereby required to maintain
the same.
12. REMOVAL OF TENANT'S FIXTURES. The Tenant
shall have the privilege at any time on or before vacating
the premises of removing any or all of its personal proper-
ty, equipment and fixtures, and shall repair any damage
thereby caused.
13. DEFAULT OF LANDLORD. If the Landlord shall
fail to carry out any obligation on the Landlord's part in
this lease contained, the Tenant may, after reasonable
notice or without notice if in the Tenant's judgment an
emergency shall exist, perform such obligation at the
expense of the Landlord.
14. NOTICES. Any notice or demand, which, under
the terms of this lease or by any statute or ordinance, must
or may be given or made by a party hereto, shall be in
writing and may be given by certified or registered mail
sent to the other party at the address of its principal
office hereinabove mentioned, or to such other address as
such party may from time to time designate by notice.
M, W
15. FIRE INSURANCE. The Landlord will cause the
premises to be insured against fire loss by policies with
extended coverage; and the Tenant shall not be liable for
injury to the premises by fire or other casualty so covered
by this type of insurance, it being understood that in case
of such injury the Landlord shall look solely to the insurer
for reimbursement and not the Tenant, except in the case of
the negligent or intentional acts of the Tenant or its
employees.
16. COMPLIANCE WITH LAWS. The Tenant shall
promptly execute and comply with all laws, ordinances,
regulations and requirements of any or all federal, state
and municipal authorities having jurisdiction over the
manner in which the Tenant's business is conducted.
17. NEW CONSTRUCTION BY LANDLORD. The Landlord
shall cause commencement of the work called for on the
specifications attached as Exhibit "B" no later than Septem-
ber 1, 1990. The Tenant shall not be deemed to have re-
ceived actual possession of the premises until all such work
has been satisfactorily completed, and the Landlord cove-
nants that all such work shall be carried out in accordance
with the requirements, orders and limitations of all local,
state or federal departments or bureaus having jurisdiction
therein, and upon completion the premises shall be in
compliance with all governmental requirements for the use
which the Tenant may make of them. All permits and licenses
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and the necessary insurance required in connection with the
above work shall be provided for by the Landlord.
18. WORK SPECIFICATIONS. The specifications and
drawing hereinbefore referred to have been initialed by the
parties for identification and are annexed to and hereby
made a part of this lease.
19. NO ORAL MODIFICATION. This lease may not be
modified except by an instrument in writing, signed by the
parties hereto, their heirs, legal representatives, succes-
sors or assigns.
20. NO FORFEITURE. Breach of any covenant of
this lease shall not entitle Landlord to a forfeiture of the
term hereof. However, in the event of any breach of any
covenant of this lease by Tenant, Landlord may enforce the
terms hereof or evict such sublessee or assignee from the
premises.
21. SUCCESSORS BOUND. The covenants and agree-
ments contained in this lease shall inure to the benefit of
and be binding on the parties hereto, their heirs, legal
representatives, successors, or assigns.
IN WITNESS WHEREOF the parties hereto have execut-
W
ed this lease the day and year first above written.
r
AT T ST:
Town Cle t
ATTEST:
lu I rw rA Av�
Secre ary
STATE OF COLORADO )
) ss.
COUNTY OF EAGLE )
TOWN OF AVON
By.
Mayo
AVON BEAVER -CREEK RESORT
ASSOCIATION /
By:
Its President
bsc ibed and sworn to before me this A
day of 19��, by Allan R.
Nottingham, as Mayor, and Patricia J. Doyle, as Town Clerk,
of the TOWN OF AVON.
My commission expires:
Witness my hand and offic'al seal. %�
vnmmwd
/J
Not4,rypublic
STATE OF COLORADO )
) ss.
COUNTY OF EAGLE )
Subscribed and sworn to bef me this '%
day of , 19 O by
as President, and
as Secretary of AVON BEAVER-a`Cgg K RESO T SSOCIATION, a
Colorado non - profit corporation.
My commission expires:
Witness my hand and offici 1 eal.
"� '/
Nota y Public
A2032090
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EXHIBIT "B"
(To be provided)
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Town of Avon P. O. Box 975, Avon, CO 81620 (303) 949 -4280
April 12, 1990
Avon /Beaver Creek Resort Association
P.O. Box 437
400 Benchmark Road
Avon, CO 81620
Attention: Jo -An Barnett, Executive Director of the
Avon /Beaver Creek Resort Association
Dear Jo -An:
Please find enclosed two (2) copies of the Agreement of the
Sublease Agreement between the Town of Avon and the Avon/
Beaver Creek Resort Association in respect to the leasing of
space which is a portion of the addition to be constructed
at City Market.
At its regular meeting of April 10, 1990, the Avon Town Council
approved the Agreement and authorized the Mayor to execute
the said Agreement.
Please have your President and Secretary execute the enclosed
Agreement, keep on copy for yourself and return the original
to the Town Offices.
If you have any questions please do not hesitate to contact me.
lr �+
a r J. oy
Town Clerk
Town of Avon
cc: File