HomeMy WebLinkAbout25-1215 Downtown Neighborhood Association COMMERCIAL LEASE EXTENSION AGREEMENT
THIS COMMERCIAL LEASE EXTENSION AGREEMENT is made and entered into
this $ S uv of December, 2025, by and between the City of Elgin, an Illinois municipal
corporation, (hereinafter referred to as the "Lessor") and the Downtown Neighborhood
Association of Elgin,an Illinois not-for-profit corporation(hereinafter referred to as the"Lessee").
WHEREAS, the Lessor and Lessee entered into a Commercial Lease Agreement dated
October 14, 2020, for a portion of the premises at the property commonly known as 31 South
Grove Avenue, Elgin, Kane County, Illinois(hereinafter referred to as the"Lease"), which Lease
had an initial term ending on December 31,2020; and
WHEREAS, pursuant to Section 1 of the Lease, the term of the Lease was renewed for
successive one-year renewal terms, such that the current lease renewal term is scheduled to
terminate on December 31,2025;and
WHEREAS, pursuant to Section 1 of the Lease, on October 30, 2025,the Lessor sent the
Lessee written notice of its intent not to renew the Lease for an additional one-year term following
the end of the current lease renewal term on December 31, 2025;and
WHEREAS, Lessee has requested and the Lessor has agreed to a sixty(60)day extension
of the term of the Lease.
NOW,THEREFORE, for and in consideration of the mutual promise and undertakings as
set forth herein,and other good and valuable consideration,the receipt and sufficiency of which is
hereby acknowledged,the parties hereto agree as follows:
1. The term of the Lease shall be and is hereby extended from December 31,2025,to
March 1, 2026.
2. There shall be no further renewals or extensions of the term of the Lease except
through the further express written agreement of the parties.
3. That except as expressly modified herein, all other terms and conditions of the
Lease shall remain in full force and effect.
SIGNATURE PAGE FOLLOWS
IN WITNESS WHEREOF, the parties hereto have entered into and executed this
Commercial Lease Extension Agreement on the date and year first written above.
LESSOR: LESSEE
CITY OF ELGIN,an Illinois DOWNTOWN NEIGHBORHOOD
municipa ration ASSOCIATION OF ELGIN
By: 6 B
y
ity Manager •
Its: t ✓
Attest: Attest:
ity Clerk
Legal Dept\Agreement\Agr-Lease Extension-31 S Grove-DNA-12-5-2S docx
2