HomeMy WebLinkAboutresolution.council.108-07RESOLUTION NO. 7D~
Series of 2007
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO,
PROVIDING AUTHORITY FOR THE FINANCE DIRECTOR TO SIGN AND
EXECUTE "CONSENT TO SUBLEASE, SUBORDNATION, NONDISTURBANCE
AND ATTORNMENT UNDER LEASE AGREEMENT(S)" WITH THE ISIS RETAIL
GROUP WITH RESPECT TO THE SUB-SUB LEASE OF A PORTION OF THE ISIS
TO PETER LIK ASPEN LLC LLC, A COLORADO LIMITED LIABILITY
COMPANY
WHEREAS, there has been submitted to the City Council Consent to Sublease,
Subordination, Nondisturbance and Attomment Under Lease Agreement(s) between the
City of Aspen and Isis Retail Group LLC, true and accurate draft copies of which aze
attached hereto as Exhibit "A and B";
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF ASPEN, COLORADO:
That the City Council of the City of Aspen hereby authorizes the Finance Director
to sign and execute said agreement(s), between the City of Aspen and the Isis Retail
Group LLC, draft copies of which are annexed hereto and incorporated herein, upon the
following terms:
1. That said agreement(s) are not in conflict with the City's obligations with respect
to its lease purchase agreement with the City of Aspen Public Facilities Authority.
2. That said agreement(s) are not in conflict with provisions of the City of Aspen's
sublease with the Isis Retail Group (IRG) and,
3. That proposed lease between the Isis Retail Group and Peter Lik Aspen LLC
provides adequate protection to the City of Aspen in the case subtenant (Peter Lik
Aspen LLC) fails to comply with provisions of its lease with the Isis Retail Group
or applicable law.
4. That proposed lease does not conflict with any other approvals or financing
obligations of the City of Aspen
INTRODUCED, READ AND ADOPTED by the City Council of the City of
Aspen on the 10th day of December, 2007.
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Mic ael C. Ireland, Mayor
I, Kathryn S. Koch, duly appointed and acting City Clerk do certify that the
foregoing is a true and accurate copy of that resolution adopted by the City Council of the
City of Aspen, Colorado, at a meeting held on the day hereinabove stated.
Kathryn S. K ,City Clerk