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Item A: Beam Development Purchase and Sale Agreement Terms
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Item A: Beam Development Purchase and Sale Agreement Terms
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6/9/2010 12:58:26 PM
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5/16/2008 4:10:40 PM
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Agenda Item Summary
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5/21/2008
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<br />EXHIBIT F <br />CITY LEASE – LEASE TERMS <br /> <br />Lessor: Beam Construction & Management, LLC, doing business as Beam Development <br />Lessee: City of Eugene, a municipal corporation <br />Description of Premises: Newly Constructed Building - not to exceed 50,000 square feet in floors 2 through 5 <br />Term: <br /> Initial Term: 5 years <br /> Renewal Term (upon City’s election): 5 years <br />Commencement Date: Upon Completion of Construction of the Tenant Improvements provided by Lessor <br />Monthly Rental Amount: Market rent, based on amounts charged other tenants or prospective tenants renting <br />similar amount of space in the Newly Constructed Building and recognizing that City is <br />exempt from payment of ad valorem taxes assessable against the Premises, and, in any <br />event, not to exceed $1.89 per square foot <br />Monthly Rental Escalation: No <br />Use: Office <br />Taxes, Insurance, Utilities: Paid by Lessor <br />Tenant Improvement Allowance: $25.00 per square foot <br />Tenant Improvement Work Agreement: Yes <br />Commencement of TI Construction Date: Upon written notice given to Lessee by Lessor on or before <br />May 1, 2009 <br />Completion of TI Construction: Within 60 days after commencement of TI work and upon the <br />acceptance and approval of the TI work by Lessor and Lessee <br />EXHIBIT F <br /> <br />
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