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AN ORDINANCE RATIFYING, AMENDING, AND AUTHORIZING THE MAYOR OF THE CITY OF NEWARK AND/OR HIS DESIGNEE, THE DEPUTY MAYOR/ DIRECTOR OF THE DEPARTMENT OF ECONOMIC AND HOUSING DEVELOPMENT, TO ENTER AND EXECUTE A LEASE AGREEMENT WITH MAYOR REAL ESTATE, LLC FOR USE OF PROPERTY LOCATED AT 197 AND 199 N 13TH STREET, NEWARK, NEW JERSEY 07107 (BLOCK 1940, LOT 51 AND 52) FOR THE PERIOD OF APRIL 2, 2018 THROUGH MARCH 31, 2028, AS A BASKETBALL COURT FOR NEWARK RESIDENTS. (WEST WARD)
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WHEREAS, Mayor Real Estate, LLC is the owner in fee simple of the land located at 197 and 199 North 13th Street, Newark, New Jersey 07107, as Block 1940, Lot 51 and 52 on the Official Tax Maps and Tax Duplicate (Year 2017) of the City of Newark, County of Essex, State of New Jersey (herein referred to as the "Landlord"); and
WHEREAS, the City of Newark (hereinafter referred to as the "Tenant") was in need of additional basketball recreational space for use by City of Newark residents in the City's South Ward and the Landlord was in possession of, and desirous to lease, such space to the City (the "Purpose") for the nominal price of One Dollar and Zero Cents ($1.00) annually for ten (10) years; and
WHEREAS, the Landlord agreed to permit the Tenant to use of the Premises, only for the Purpose, as stated above, to continue to address the need for basketball and recreational services, pursuant to the terms and conditions set forth in the attached lease; and
WHEREAS, this Lease shall not change the use, nature, and character of the premises owned by Landlord, which shall remain as a vacant basketball court throughout the term of the lease and any extended term; and
WHEREAS, on August 9, 2018, by way of Ordinance 6F-e(AS), attached herein, the Municipal Council authorized the Mayor of the City of Newark and/or his designee, the Acting Director of the Department of Economic and Housing Development to enter into and execute a lease with the Landl...
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