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Home My WebLink About86-0317 Old MainTELEPHONE 312/695-6500 150 DEXTER COURT ELGIN, ILLINOIS 60120-5555 $1,- 03R March 28, 1986 Donald A. Reed, Headmaster Elgin Academy 350 Park Street Elgin, Ill. 60120 Dear Mr. Reed: Enclosed please find a fully executed copy of the parking lot agreement for your files. We appreciate your cooperation in this matter, and should any question arise concerning this project, please do not hesitate to contact us. Very truly yours, �cL�� Marie Yearm City Clerk enc. cc: James J. Cook, City Manager Mel Dahl, Public Works Director ELGIN March 26, 1986 Mr. James J. Cook City Manager City of Elgin 150 Dexter Court Elgin, Illinois 60120-5555 Dear Jim: I have enclosed the signed copy of the agreement prepared by your staff. I believe that this brings the parking lot matter to a position where you can now proceed with bids and construction. Please let me know what, if anything, the Academy should do from here. Yours very truly, Donald A. Reed Headmaster DAR rk 350 Park Street Elgin, Illinois 60120 (312) 695-0300 AGREEMENT THIS AGREEMENT between Elgin Academy, an Illinois not -for - profit corporation (hereinafter "Academy"), and the City of Elgin, an Illinois municipal corporation (hereinafter "Elgin"): RECITALS: WHEREAS, Elgin Academy is owner of certain real property located at the northwest corner of Park Street and College Street, as shown on Exhibit A attached to and made part of this agreement. WHEREAS, Elgin is the owner of certain property immediately to the west of the premises described above which property is improved with a structure commonly known as Old Main (hereinafter "Old Main"). WHEREAS, the Elgin Historical Society is developing within Old Main a historical museum. Elgin is desirous of providing adequate parking for said historical museum on the premises described above. NOW, THEREFORE, in consideration of the mutal promises, covenants and conditions contained herein, Elgin and Academy agree as follows: A. Premises, Lease and Construction 1. Academy hereby leases to Elgin and Elgin leases from the Academy the premises described in Exhibit A for the purpose of con- structing, maintaining and operating a parking facility. Elgin shall con- struct and maintain such parking facility in compliance with all codes and ordinances. Said parking facility shall be completed on or before December 31, 1986. 2. Within 45 days of completion, Elgin shall certify in writing to Academy all direct out of pocket costs and expenses incurred in the construction of the parking facility and not including Elgin's overhead I�- expenses including payments to its officers and employees. B. Term -- Termination 1. The term of this agreement shall commence upon its execution and shall continue until terminated by the parties as provided herein. 2. The Academy shall have the right to completely or partially terminate Elgin's leasehold interest in the premises on or after June 1, 1988 subject to the following conditions: a. The Academy must serve written notice on Elgin of its intent to terminate, not less than 12 months prior to the effective date of termination. Such notice shall specify whether Elgin's entire leasehold interest or only a portion thereof is to be terminated. b. The Academy shall pay to Elgin the unamortized balance of Elgin costs and expenses incurred (as defined in Paragraph A 2 above) based upon an 8 year, straight-line amortization period beginning on the date the facility is completed. Such unamortized balance shall be a sum equal to the above described costs and expenses, as established pursuant to Paragraph A 2 herein, multiplied by that percentage which the remaining amortization period bears to the entire amortization period. In the event only a portion of Elgin's leasehold interest is terminated, the unamortized balance shall be based upon that part of the above -described costs and expenses attributable to the portion terminated (eg: if Academy requires Elgin to vacate 30% of the parking facility, the unamortized balance shall be based upon 30% of the costs and expenses certified pursuant to Paragraph A 2). c. If this lease is terminated entirely, the Academy shall permit and provide handicapped parking and acesssibility to Old Main either by maintenance of the drive and unloading area in the parking facility or in a substitute parking facility. d. In lieu of full or partial reimbursement, the Academy may provide substitute parking in an alternative location on present Academy property that is neither west of Academy Place nor east of Gifford Street and provided handicapped access is maintained. C. Parking Facility 1. The parking facility shall contain 32 parking spaces. Two (2) spaces shall be marked and used for handicapped parking; fifteen (15) spaces on the east side of the facility shall be for long term (all day but not overnight) parking; approximately thirteen (13) spaces on the west side of the facility shall be for short term (one hour or less) parking; and two (2) spaces shall be for Old Main staff parking. Any reduction in the number of spaces resulting from the Academy's termination of a portion of Elgin's leasehold interest as provided in Paragraph B 2 shall be made to the long term parking spaces first. 2. Elgin shall be solely responsible for the design and construction of the parking facility and shall cause said work to be prosecuted in a safe, workmanlike and diligent manner. 3. The parking facility shall be lighted and landscaped in conformance with the requirements of the Elgin Municipal Code. D. Miscellaneous 1. Elgin shall indemnify and save harmless the Academy from any and all liability, claim or action arising out of any negligent acts or ommissions of Elgin, its agents or employees, in the construction or maintenance of said parking lot. 2. Elgin shall cause said parking lot to be maintained in a clean and attractive condition and shall mow all peripheral lawns to the south and east of said parking lot. 3. In the event Elgin fails to perform any of the terms, covenants, agreements or conditions on its part to be performed under this agreement, then a condition of default shall be deemed to exist. The Academy shall give Elgin written notice of the default, and termi- nation of this agreement shall not result if, within thirty (30) days of receipt of such notice, Elgin has corrected the condition of default or has taken action reasonably likely to effect such correction within an additional thirty (30) days. If such corrections are not made, the Academy may treat such default as a breach and terminate this agreement without further notice and without the reimbursement as provided in Paragraph B 2 b. 4. The Academy shall endeavor to keep Elgin apprised of any expansion plans they may develop which may require the use of the premises. 5. Elgin shall pay Academy $1.00 per year as rent. IN WITNESS WHEREOF, the parties have by their officers signed hereto this 17 day of /'I(,Vl C k , 1986. ELGIN ACADEMY, an Illinois not -for -profit corporation By i t, Presi ent of Board of Trustees CITY OF ELGIN, a municipal corporation By ` Ci Manager Attest: City Clerk E-+ w 11 . 0 PARKING LOT CONCEPT PLAN OLD MAIN ACADEMY POOL BUILDING H Total_ 32 Parking Spaces � 15� 2 Handicap Spaces H 3.5' a Compact Spaces (19%) Way One OLD �.� way Compact Compact One MAIN s Compact Compact 8 Compact Compact 24' J N 1—.22'�_r �_. 22 -_ AOL- One 1 O Way i V N J 1" a 200 PLANNING DEPARTMENT nA♦v ne ca ANN