File #: 14-0697    Version: 1 Name: 233-249 Wilson Avenue - Resolution Authorizing Subordination, Nondisturbance and Attornment Agreement
Type: Resolution Status: Filed
File created: 5/6/2014 In control: Engineering
On agenda: 5/20/2014 Final action: 5/20/2014
Title: Dept/ Agency: Engineering Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Real Estate Agreement Purpose: Authorize Subordination, Non-disturbance and Attornment Agreement Entity Name: Wilson Avenue Realty, Inc. Entity Address: 233-249 Wilson Avenue, Newark, New Jersey 07105 Contract Amount: No municipal funds expended Funding Source: Contract Period: Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( x ) n/a Additional Information:
Sponsors: Council of the Whole
Title
Dept/ Agency:  Engineering
Action:  (   ) Ratifying     (X) Authorizing     (  ) Amending
Type of Service:  Real Estate Agreement
Purpose: Authorize Subordination, Non-disturbance and Attornment Agreement
Entity Name:  Wilson Avenue Realty, Inc.
Entity Address:  233-249 Wilson Avenue, Newark, New Jersey 07105
Contract Amount: No municipal funds expended
Funding Source:                 
Contract Period:  
Contract Basis: (   ) Bid   (   ) State Vendor   (   ) Prof.  Ser.   (   ) EUS   
(   ) Fair & Open   (   ) No Reportable Contributions   (   ) RFP   (   ) RFQ
(   ) Private Sale   (   ) Grant   (   ) Sub-recipient   ( x  ) n/a    
Additional Information:
                   
body
 
WHEREAS, on August 4, 2004 the Municipal Council, through Ordinance 6PhS&FK authorized the City of Newark through its Director of the Department of Engineering to enter into a lease agreement with Wilson Avenue Realty, Inc., (the "Landlord") to lease the property located at 233-249 Wilson Avenue, Newark, New Jersey, 07105, and designated on the tax maps of the City as Block 2083, Lot 1 (the "Leased Premises"), for use by the City's Department of Engineering, Division of Motors, to repair heavy duty and light duty City vehicles, for a period of twenty (20) years from the date of issuance of a Certificate of Occupancy to the Landlord (the "Lease Agreement").  A copy of the Lease Agreement is attached hereto and made a part of this resolution; and
WHEREAS, on September 3, 2008 the Municipal Council, through Ordinance 6S&FJ, authorized the City of Newark, through its Director of the Department of Engineering, to enter into a First Amendment to the Lease Agreement (the "First Amended Lease Agreement").  A copy of the First Amended Lease Agreement is attached hereto and made a part of this resolution; and
 
WHEREAS, on December 17, 2008 the Municipal Council, through Ordinance 6PSF-M, authorized the City of Newark, through its Director of the Department of Engineering, to amend Ordinance 6S&FJ, adopted September 3, 2008, to further amend the Lease Agreement by adding an addendum.  A copy of the Addendum to the First Amended Lease Agreement is attached hereto and made a part of this resolution; and
 
WHEREAS, the Landlord has advised that it is in the process of refinancing a loan for the Leased Premises and that the Bank is requiring the City to enter into a Subordination, Non-disturbance and Attornment Agreement in the form attached hereto, which the City agreed to do pursuant to Section 14 of the First Amended Lease Agreement.
 
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
 
1.      The Mayor and/or his designee, the Director of the Department of Engineering, are hereby authorized to enter into and execute a Subordination, Non-disturbance and Attornment Agreement with the Bank, for the property located at 233-249 Wilson Avenue, Newark, New Jersey 07105, which is used by the Division of Motors as a repair facility for heavy and light duty City vehicles, in the form attached hereto and made a part of this resolution.
 
2.      The Director of the Department of Engineering shall file a copy of the fully executed Subordination, Non-disturbance and Attornment Agreement with the City Clerk.
 
3.      This resolution does not require the expenditure of any municipal funds.
 
STATEMENT
 
This Resolution authorizing the Mayor and/or his designee, the Director of the Department of Engineering, to enter into and execute a Subordination, Non-disturbance and Attornment Agreement with the Bank, for the property located at 233-249 Wilson Avenue, which is being used by the Division of Motors, for the repair of heavy and light duty City vehicles, in the form attached hereto and made part of this resolution.