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HomeMy WebLinkAboutC06-173 C /73- D 3 BUFFALO RIDGE AFFORDABLE HOUSING CORPORATION Eagle County Transportation Authority Sub Lease THIS LEASE is made and entered into as of (the "Effective Date"), by and between the Eagle County Regional Transportation Authority, hereinafter referred to as ("Lessor") and GH Daniels, hereinafter referred to as ("Lessee"). Recitals Lessor has rented units at the Buffalo Ridge Apartments located at 930 Swift Gulch Road, Avon, Colorado 81620 for its seasonal employees. Lessor is willing to make such units available to other users who are employed in Eagle County during the non-seasonal months under the terms and conditions of this sublease. Lease 1. Lease of Units. In consideration of the payment of the rent and the performance of the covenants in the Lease, Lessor leases to Lessee, and Lessee takes and leases from Lessor, two Units at the Buffalo Ridge Apartments described as Unit 1-203 and Unit 1-304 (hereinafter collectively referred to as "Units"). 2. Term. The term of this Lease shall commence on the 15th day of May, 2006 and will terminate on the 30th day of September, 2006. 3. Rent and Utility Charges. Lessee shall pay Lessor as rent under this Lease, without right of setoff, the following: a. With respect to each Unit, the monthly rental charge of $1 ,320.00 for a total monthly rental amount for both Units of $2,640.00 ("Rent"); b. In addition to Rent, Lessee shall pay Lessor an additional charge of $200.00 per Unit for utilities for a total utility amount for both Units of $400.00 ("Utility Charge"); c. Rent and the Utility Charge for both Units shall be due and payable as a single sum of $3,040.00, in advance, on or before 12:00 noon on the first day of each calendar month during the term of this Lease at the Eagle County Regional Transportation Authority Office, PO Box 1070, 3289 Cooley Mesa Road, Gypsum Colorado 81637. Checks should be made payable to the Eagle County Regional Transportation Authority. In the event the Units are rented for any partial month, the Rent and Utility Charge for that month shall be prorated on a per diem basis. For the month of May, the single sum of $1667.02 shall be due and payable prior to occupancy of the Units by Lessee; d. Rent and Utility Charges not paid by 5 p.m. on the fifth day of the month in which due shall be subject to an initial late charge equal to 5% of the total amount due plus $5.00 per day thereafter until paid in full. Lessee shall pay the prevailing charge for Lessee's fees, and (if adjudicated) treble damages as provided in Colorado law. Less acknowledges that returned checks will result in cash or money orders being required to pay Rent and Utility Charges. 4. Sublet of Units Not Permitted. Lessee shall not be entitled to sublease the Units without Lessor's consent, which Lessor may withhold in its sole discretion. 5. Certain Covenants of Lessee and Subtenants. Lessee agrees to: a. Comply with all reasonable rules and regulations which Lessor or the Buffalo Ridge Affordable Housing Corporation may make from time to time for the protection of the building or the general welfare and comfort of the residents of the Apartments; b. Keep the Unit in as good order and condition as when the same were entered by Lessee, loss by fire, or inevitable accident (except when caused by the negligence of Lessee or the Subtenant) or ordinary wear excepted (ordinary wear meaning wear which occurs without Lessee's or Subtenants' negligence, carelessness, accident or abuse); c. Except as otherwise permitted in this Lease, to sublet no part of a Unit nor assign this Lease or any Sublease without the express prior written consent of Lessor; d. Neither hold or attempt to hold Lessor, the Buffalo Ridge Affordable Housing Corporation, or their agents or service personnel liable for any injury or damage to person or property either proximate or remote, no matter how occasioned, or for any injury or damage arising from the acts of Lessee, any Subtenant, any resident of any Unit, any guest of any such resident, or of any owners or occupants of adjoining property; e. Allow Lessor or any of its employees and any employee of the Buffalo Ridge Affordable Housing Corporation to enter any Unit at any time to make emergency repairs, or, upon reasonable notice to Lessee, to inspect the Unit or, within 30 days prior to the end of the term of this Lease, to show the Units to prospective tenants. 6. Provision of Utilities. The Buffalo Ridge Apartments shall arrange for provision to the Units of electricity, gas, and basic cable television service and water, sewer, and trash removal. Lessee shall be responsible for the provision of any additional utilities. In the event of excessive use or waste of any such utility services provided to the Unit, Lessor or the Buffalo Ridge Apartments may cause such services to be separately metered and if it does so Lessee shall pay the metered amount monthly. The Buffalo Ridge Apartments shall provide heat to the Unit during the usual heating season. Lessor and the Buffalo Ridge Affordable Housing Corporation shall not be liable for an claim of damages, rebate or charge of any kind in case of the interruption of utility or other services to the Unit occasioned by accident, failure of power supply or any other cause whatsoever beyond the control of Lessor or the Buffalo Ridge Affordable Housing Corporation. 7. Damage Deposit. Prior to occupying the Units, Lessee shall pay to Lessor an amount equal to $1,000.00 per unit, or $2,000.00 in the aggregate for the Units, to be held as a "Damage Deposit". The Damage Deposit shall be refunded to Lessee, in whole or in part, within forty-five (45) days after termination of this lease, provided that: (a) all provisions and conditions of this lease have been complied with; (b) Lessee has maintained and left the Units in good order and condition as when the same were entered by Lessee, loss by fire, or inevitable accident (except when caused by the negligence of Lessee or the Subtenant) or ordinary wear excepted (ordinary wear meaning wear which occurs without Lessee's or Subtenant's negligence, carelessness, accident or abuse); (c) the affected Units have been vacated and all keys have been returned to Lessor. Damage Deposits and/or any other deposits may, but are not required to be, deposited into an interest- bearing account by Lessor. Interest, if any, earned on amounts deposited in any such account shall be property solely of Lessor. The relevant Damage Deposit and all other deposits are subject to deduction or forfeiture for unpaid rent, utility charges, returned check charges, damage to either of the Units, their contents or the common areas, smoke or stain removal, unreturned keys, administrative charges, reletting fees, collection costs and cleaning charges. At the expiration of this lease a reasonable cleaning charge shall be deducted from the Damage Deposit and applied to the cost of cleaning said Units. 8. Default. If Lessee shall be in arrears in the payment of any installment of Rent, Utility Charges, or other charges or any portion thereof, or in default of any of the covenants or agreements in this Lease to be performed by Lessee, and such default shall be uncorrected for a period of three days after Lessor has given written notice thereof, or if Lessee shall become insolvent, shall make any assignment for the benefit of its creditors, shall be unable to pay its obligations as they become due, or if Lessee shall file or there shall be filed with respect to Lessee any petition or order for relief under the federal bankruptcy laws or the bankruptcy or insolvency laws of any other jurisdiction, then and in those events Lessor may reenter and take possession of any or all of the Units without prejudice to any remedies for arrears of Rent or Utility Charges or other sums due under this Lease. No such reentry or taking possession of any Units by Lessor shall be construed as an election by Lessor to terminate this Lease unless it gives Lessee written notice of such a termination. If this Lease is terminated, Lessee shall remain liable to Lessee for damages in an amount equal to the Rent and Utility Charges and other amounts payable under this Lease for the balance of the term of this Lease as if this Lease had not been terminated, less the net proceeds from any subsequent reletting or any Subleases accepted and recognized by Lessor as direct leases from Lessor to the Subtenants of the affect Units, after deducting all expenses associated therewith. Lessee shall pay such amounts to Lessor monthly, on the days on which such sums otherwise wound have been payable. The rights and remedies stated in this Section are cumulative, and do not limit or impair any other right or remedy at law or in equity. 9. Casualty Loss. If any of the Units are rendered untenantable or are damaged or destroyed by fire or other casualty and if in the Buffalo Ridge Affordable Housing Corporation management's reasonable determination such repairs or rebuilding cannot be substantially completed within thirty days after the occurrence of such casualty, then (i) this Lease shall terminate only as to the affected Units and all Rent and Utility Charges for the affected Units shall be payable with respect to the period ending upon the date of such injury or damage, and (ii) Lessor and the Buffalo Ridge Affordable Housing Corporation shall have the authority to designate an additional unit in the complex in substitution for the Unit affected by such casualty loss, and Lessee shall accept such additional unit under the same conditions of this lease. If any of the Units are rendered untenantable or are damaged or destroyed by fire or other casualty and Lessor determines to rebuild or repair such Units, and if in Lessor's determination such repairs or rebuilding can substantially be completed within thirty days after the occurrence of such casualty, Lessor shall do so with reasonable diligence and this Lease and the Subleases of the affected Units shall not be affected, except that the Rent and Utility Charges for the affected Units (or a just and proportionate part thereof according to the nature and extent of the damage which has been sustained) shall be abated until the affected Units have been so repaired and restored. 10. Insurance. Lessee acknowledges that Lessor or the Buffalo Ridge Affordable Housing Corporation's insurance does not cover the personal property of Lessee or any of their guests. Lessee is advised to purchase insurance coverage for loss to personal property due to fire, theft, water damage and other unfortunate events, liability coverage, and other appropriate insurance coverage. 11. Successors and Assigns. This Lease shall be binding on the parties and their permitted successors and assigns. Except as expressly permitted by this Lease, Lessee shall not assign any of its rights or obligations under this Lease or sublet any of the Unit without the prior written consent of Lessor. Any such assignment of sublease without such prior \vritten consent shall be void. 12. Holding Over. If after the expiration of this Lease, Lessee or any Subtenants remain in possession of any Units, with the permission of Lessor but without written modification of this Lease extending the term of this Lease or modifying the amount of Rent, such possession shall not constitute a renewal of this Lease for all or any part of the term of this Lease, and Lessee shall be a tenant, and any Subtenants shall be subtenants, of the affected Units from month to month at a monthly Rent in Utilities Charge payable in advance, equal to 150% of the monthly Rent and Utilities Charge payable under this Lease for the last month of the term of this Lease, but otherwise subject to all of the other terms and conditions of this Lease. 13. Miscellaneous. a. This Lease cannot be modified except as agreed in writing by Lessor and Lessee. No assent on the part of the Lessor, expressed or implied, to any breach or anyone or more of the covenants or agreements of Lessee shall be deemed or taken to be a waiver of any succeeding or other breach or any continuation of such breach; b. Lessee shall comply with the rule and regulations of the Buffalo Ridge Affordable Housing Corporation complex as may be amended from time to time. Specifically, only those who have signed a lease may reside in the Unit; c. Lessor and the Buffalo Ridge Affordable Housing Corporation retain the unrestricted right to change, alter, abolish, or add to any of the appurtenances of the Units, as may seem best to Lessor and the Buffalo Ridge Affordable Housing Corporation, and to dispose of or rent any other portion of the buildings in which the Units are located as Lessor or the Buffalo Ridge Affordable Housing Corporation elect, provided that doing so does not interfere unreasonably with Lessee's rights hereunder. Lessee has relied solely on the statements contained in this Lease. No assent on the part of the Lessor, expressed or implied, to any breach or anyone or more of the covenants or agreements of Lessee shall be deemed or taken to be a waiver of any succeeding or other breach or any continuation of such breach; d. In the event of any dispute arising under the terms of this Lease, or in the event of non- payment of any sums arising under this Lease, the prevailing party in such dispute shall be entitled, in addition to other damages or costs, to receive reasonable attorneys' fees, costs and expenses from the other party; e. This Lease shall be subordinate to the lien of any eXIstmg indebtedness, and all indebtedness which may be made a lien on the premises in the future, and Lessee shall execute and deliver such further instrument or instruments subordinating this Lease to the lien of any such indebtedness as may be desired by the holder thereof, and Lessee hereby appoints the Buffalo Ridge Affordable Housing Corporation as its, his or her attorney-in-fact to execute any such instrument on behalf of the Lessee, such interest being coupled with an interest and irrevocable, provided that Lessor has first requested Lessee to execute such an instrument and Lessee has failed to do so within seven days. IN WITNESS WHEREOF, LESSOR and LESSEE have executed this Sub Lease. LESSOR: Eagle County Regional Transportation Authority By: b /7 ~ Name: Harry Taylor Title: Director, Eagle County Regional Transportation Authority Address: Eagle County Regional Transportation Authority Office, PO Box 1070,3289 Cooley Mesa Road, Gypsum Colorado 81637 Phone: (970) 328-3520 Date: /J!~ t, ~ dlJ " LESSEE: GH DANIELS By: y)W~ VJ IvW- Name: Kristen Nelson Title: ~ Address: 12775 Highway 6, Gypsum, Colorado 81637 Phone: (970) 524-5010 Date: 6~t~