1985-095o. •
ORDINANCE NO, 85 - 95
AN ORDINANCE AMENDING A LEASE BETWEEN THE VILLAGE OF BUFFALO
GROVE AND EAT'S INCORPORATED, AN ILLINOIS CORPORATION
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF
BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS that:
SECTION 1. Section C, Paragraph 1 of the Lease dated January 9, 1984
to lease restaurant facilities at the Buffalo Grove Golf Course Club House, is
amended to read as follows:
SECTION C, Rent and Other Compensation
1. Rent
Rent shall be due and payable on the first day of each month
beginning January 1, 1986. Rent shall be paid as follows:
(a) Lessee shall pay the sum of Seven Hundred Forty -five
Dollars and Sixty Cents ($745.60) per month rent
for the months of April through September,
(b) During the months of January through March, and October
through December, the rent shall be zero,
(c) The rent payable and due in subsections (a) and (b) above
shall apply to calendar year 1986 only, Lessor reserves
the right to review the monthly rent in December of each
year and reserves the right to adjust the rent upon notice
to Lessee, Lessor and Lessee shall work together to
determine fair and adequate rent return based on performance
review. Rent adjustments will be amendments to this lease,
In no case will the annual adjustment in rental compensation
due the Lessor be less than the annual change in the Chicago
area Consumer's Price Index for the annual period ending
December 31 of 1986 to be effective with the succeeding
calendar year,
SECTION 2. This ordinance shall not be codified in the Village's
Municipal Code.
AYES: 5 - O'Reilly, Glover, Reid, Shields, Kowalski
NAPES: 0 - None
ABSENT: 1 - Marienthal
PASSED: December 16 ,. 1985,
APPROVED: December 16 , 1985.
Village President
ATTEST:
Vil e Clerk
ORDINANCE NO. 85 - 95
AN ORDINANCE AMENDING A LEASE BETWEEN THE VILLAGE OF BUFFALO
GROVE AND EAT'S INCORPORATED, AN ILLINOIS CORPORATION
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF
BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS that:
SECTION 1. Section C, Paragraph 1 of the Lease dated January 9, 1984
to lease restaurant facilities at the Buffalo Grove Golf Course Club House, is
amended to read as follows:
SECTION C< Rent and Other Compensation
1. Rent
Rent shall be due and payable on the first day of each month
beginning January 1, 1986. Rent shall be paid as follows:
(a) Lessee shall pay the sum of Seven Hundred Forty -five
Dollars and Sixty Cents ($745.60) per month rent
for the months of April through September,
(b) During the months of January through March, and October
through December, the rent shall be zero.
(c) The rent payable and due in subsections (a) and (b) above
shall apply to calendar year 1986 only. Lessor reserves
the right to review the monthly rent in December of each
year and reserves the right to adjust the rent upon notice
to Lessee. Lessor and Lessee shall work together to
determine fair and adequate rent return based on performance
review. .Rent adjustments will be amendments to this lease.
In no case will the annual adjustment in rental compensation
due the Lessor be less than the annual change in the Chicago
area Consumer's Price Index for the annual period ending
December 31 of 1986 to be effective with the succeeding
calendar year,
SECTION 2. This ordinance shall not be codified in the Village's
Municipal Code.
AYES: 5 - O'Reilly, Glover, Reid, Shields, Kowalski
NAYES: 0 - None
ABSENT: 1 - Marienthal
PASSED: December 16
APPROVED: December 16
1985.
1985.
Village President
ATTEST:
i
Villeje Clerk