Dubuque Marine / Pier Pressure Marine IA_Assignment of Lease Copyright 2014
City of Dubuque Consent Items # 5.
ITEM TITLE: Dubuque Marina Assignment of Lease
SUMMARY: City Manager recommending approval of the Assignment of Lease with the
understanding that the Assignment of Lease should not be considered by
Pier Pressure Marine IA, Inc. as any indication of whether the City will or
will not agree to an extension of the Lease.
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Approve
ATTACHMENTS:
Description Type
❑ Dubuque Marina Assignment of Lease-MVM Memo City Manager Memo
❑ Staff Memo Staff Memo
❑ Pier Pressure Marine IA, Inc. Letter Supporting Documentation
❑ Assignment of Lease Supporting Documentation
❑ Aerial Photo& Plats Supporting Documentation
❑ Lease&Amendments Supporting Documentation
THE CITY OF Dubuque
UBgkE 111 111-America Ciii
I.
Masterpiece on the Mississippi 2007-2012-2013
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Dubuque Marina
DATE: March 23, 2015
City Attorney Barry Lindahl has provided material from Pier Pressure Marine IA, Inc.
requesting an assignment of the Dubuque Marina Lease, currently leased by M & K Ltd.
The Lease expires December 31, 2028.
Pier Pressure Marine IA, Inc. is purchasing the assets of M & K Ltd. Pier Pressure
Marine IA, Inc. is owned by Ryan N. Becker, Steve Launspach, and Peter Ludwig.
Purchase of the assets is subject to the City Council consenting to the assignment of
the lease.
The new owners have indicated that they will "develop and present to the City a
comprehensive plan which will set forth numerous property improvements centered
around an altogether new structure which would house the Yardarm, and boat service
businesses." The owners intend to present such plans, along with a request for an
extension of the lease.
I recommend that the City Council approve the Assignment of Lease. However,
approval of the Assignment of Lease should not be considered by Pier Pressure Marine
IA, Inc. as any indication of whether the City will or will not agree to an extension of the
Lease.
4
Mich el C. Van Milligen
MCVM:tIs
Attachment
cc: Barry A. Lindahl, City Attorney
F:\USERS\tsteckle\Lindahl\Leases\Dubuque Mari na_M&KLtd_PierPressureMarine\MVMMemoToCityCouncil_AssignmentOfLease_032315.docx
THE CITY OF
DUB UE MEMORANDUM
Masterpiece on the Mississippi
BARRY LINDAL
CITY ATTORN Y
To: Michael C. Van Milligen
City Manager
DATE: March 20, 2015
RE: Dubuque Marina
The Dubuque Marina is currently leased by M & K Ltd., owned by Keith Kann and Mary
Wilhelm. A copy of the lease documents is attached along with an aerial photo which
shows the boundaries of the leased premises. The Lease expires December 31, 2028.
Pier Pressure Marina IA, Inc. is purchasing the assets of M & K Ltd., subject to an
Assignment of the Lease by M & K Ltd. To Pier Pressure Marine IA, Inc.
Attached is a copy of a letter from the owners of Pier Pressure Marine IA, Inc.
requesting City consent to the Assignment of the Lease. Also attached are the resumes
of the three owners of Pier Pressure Marine IA, Inc.: Ryan N. Becker, Steve
Launspach, and Pete Ludwig.
The Lease Agreement allows the Lessee to assign the Lease with the prior written
approval of the City "to the end that Lessor's interests shall be fully protected."
I recommend that the Assignment of Lease and Consent, Acknowledgment and
Agreement of City of Dubuque be submitted to the City Council for consideration.
BAL:tIs
Attachment
cc: Steve Brown, Project Manager
F:\USERS\tsteckle\Lindahl\Leases\Dubuque Mari na_M&KLtd_PierPressureMarine\MVM_AssignmentOfLease_032015.doc
March 17, 2015
Michael Van Milligen
City Manager
City of Dubuque
50 West 13th Street
Second Floor
Dubuque, IA 52001
Re: Assignment of Lease; Dubuque Marina
Dear Mr.Van Milligen:
This letter is intended to accompany the ASSIGNMENT OF LEASE between M & K Ltd. ("Assignor" or
"Sellers")and Pier Pressure Marine, ("Assignee" or"Buyers"). Assignor, is owned by Keith and Mary
Kann and does business as Dubuque Marina and the Yardarm Restaurant and Bar at 1201 Shiras Avenue,
Dubuque. Assignee is owned by Ryan Becker, Peter Ludwig and Stephen (Steve) Launspach and is
currently in the process of acquiring the assets of Dubuque Marina and the Yardarm Restaurant and Bar
from Assignor. The subject acquisition is conditioned upon the current lease by and between the City of
Dubuque and the Assignor for the property at 1201 Shiras Avenue, Dubuque, being assigned to the
Assignee and,specifically, said ASSIGNMENT OF LEASE being approved by the City of Dubuque.
As Buyers, we are excited at the prospect of owning and operating the Dubuque Marina. We intend to
introduce the same new energy and vitality into this important riverfront property as we have seen
applied at so many others on the Dubuque riverfront. We need the Assignment of Lease in order to
make this acquisition. In due course we will also develop and present to the City a comprehensive plan
which will set forth numerous property improvements centered around an altogether new structure
which would house the Yardarm, and boat service businesses. We intend to present such plans, along
with a request for extension of lease as soon as is practicable.
We submit the ASSIGNMENT OF LEASE,this introductory letter, and the accompanying background
information on Becker, Ludwig and Launspach for consideration by you and the Dubuque City Council,
and we respectfully request your approval. We would be glad to answer any questions you might have.
Thanking you in advance,
14�ec
Ryan Becker Peter Ludwig Steve Launspach
ASSIGNMENT OF LEASE
This Assignment of Lease (this "Assignment") is made and entered into as of
, 2015, by and between M & K Ltd. ("Assignor') and Pier Pressure
Marine IA, Inc. ("Assignee").
Recitals
A. Assignor and Assignee have entered into negotiations regarding the form of an
asset purchase agreement (the "Purchase Agreement"), pursuant to which it is contemplated
that Assignor will sell to Assignee and Assignee will purchase from Assignor substantially all
of Assignor's assets related to its operation of the Dubuque Marina.
B. Pursuant to the Purchase Agreement, Assignor has agreed to sell, assign, and
transfer to Assignee all right, title, and interest in and to, and Assignee has agreed to assume all
of Assignor's prospective obligations under, that certain Lease and Agreement between
Assignor and the City of Dubuque dated October 29, 1956, as amended October 26, 1956,
December 25, 1957, June 11, 1973, October 3, 1988, and April 12, 1999, with respect to all
property and property rights for the rental and utilization of the real property described therein
(the"Lease").
NOW THEREFORE, for good and valuable consideration received, Assignor and
Assignee agree as follows:
Section 1. Assignment
Subject to and simultaneously with the closing contemplated by the Purchase Agreement
(the "Closing"), and in consideration for the amounts and other consideration described in the
Purchase Agreement, Assignor hereby sells, assigns, and transfers to Assignee all of
Assignor's right, title, and interest in and to the Lease.
Section 2. Assumptions
Subject to and simultaneously with the Closing, Assignee assumes all of Assignor's
prospective obligations, duties, responsibilities, and liabilities under the Lease arising after the
Closing. For clarification purposes and avoidance of doubt, the parties hereto acknowledge
and agree that Assignee is not assuming any of Assignor's obligations, duties, responsibilities,
liabilities or commitments under the Lease to the extent such obligations, duties,
responsibilities, liabilities and commitments arise out of, relate to or are in respect of the
period prior to the Closing, all of which are expressly retained by Assignor.
Section 3. City of Dubuque Consent to Assignment
Notwithstanding anything to the contrary in this Assignment, this Assignment shall not
be effective unless and until the City of Dubuque has executed the Consent, Acknowledgment
and Agreement in the form attached hereto as Exhibit A.
Section 4. Assignor's Covenants
Assignor covenants that: (a) it is in possession under the Lease; (b) the Lease is in full
force and effect; (c) there are no defaults under the Lease; (d) no acts or events have occurred
which with the passing of time or the giving of notice or both could later become defaults
under the Lease; and (e) the Lease has not been modified, amended, or otherwise changed in
writing or in any other manner.
Section 5. Indemnity
Assignor agrees to indemnify Assignee for any loss, cost or expense, including attorney's
fees and court costs, relating to the Lease and accruing on or before the date of the Closing.
Assignee agrees to indemnify Assignor for any loss, cost, or expense, including attorney's fees
and court costs,relating to the Leases and accruing subsequent to the date of the Closing.
Section 6. Successors
This Assignment shall be binding on and inure to the benefit of the parties to it, their
heirs, executors, administrators, successors in interest, and assigns.
Section 7. Severability
If any term or provision of this Assignment shall be held invalid or unenforceable, the
remainder of this Assignment shall not be affected.
Section 8. Waivers
No waiver or breach of any covenant or provision shall be deemed a waiver of any other
covenant or provision, and no waiver shall be valid unless in writing and executed by the
waiving party.
Section 9. Construction
Headings are solely for the parties' convenience, are not a part of this Assignment, and
shall not be used to interpret this Assignment. The singular form shall include plural and vice
versa. This Assignment shall not be construed as if it had been prepared by one of the parties,
but rather as if both parties have prepared it. Unless otherwise indicated, all references to
sections are to this Assignment.
Section 10. Counterparts
This Assignment may be executed in one or more counterparts, each of which shall be
deemed an original and all of which taken together shall constitute one and the same
instrument.
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Section 11.Amendment
This Assignment may not be amended or altered except by a written instrument executed
by Assignor and Assignee.
Section 12. Further Assurances
Whenever requested to do so by the other party, each party shall execute, acknowledge,
and deliver any further conveyances, assignments, confirmations, satisfactions, releases,
powers of attorney, instruments of further assurance, approvals, consents, and any further
instruments or documents that are necessary, expedient, or proper to complete any
conveyances, transfers, sales, and assignments contemplated by this Assignment. In addition,
each party shall do any other acts and execute, acknowledge, and deliver any requested
documents in order to carry out the intent and purpose of this Assignment including, without
limitation, any and all acts necessary or appropriate to have this Assignment approved by the
City of Dubuque in order to effectively convey and assign the Lease (together with any and all
rights thereunder) to Assignee.
Section 13. Third-Party Rights
Nothing in this Assignment, express or implied, is intended to confer upon any person,
other than the parties and their respective successors and assigns, any rights or remedies.
Section 14. Attorney's Fees
In the event of any litigation between Assignor and Assignee arising out of the
obligations of Assignor under this Assignment or concerning interpretation of any of its
provisions, the losing party shall pay the prevailing party's costs and expenses of the litigation,
including reasonable attorney's fees.
Section 15. Governing Law
This Assignment shall be governed and construed in accordance with the laws of the j
State of Iowa.
I
3
i
IN WITNESS WHEREOF, the parties have executed this Assignment as of the date first
written above.
ASSIGNOR: ASSIGNEE:
M & K LTD.
By:
PIER PRESSURE MARINE IA, INC.
By:
Keith Kann, President Ryan Becker, President
4
IN WITNESS WHEREOF, the parties have executed this Assignment as of the date first
written above.
ASSIGNOR: ASSIGNEE:
M & K LTD. PIER PRESSURE MARINE IA, INC.
By: By:
Keith Kann, President yan Becker, President
IN WITNESS WHEREOF, the parties have executed this Assignment as of the date first
written above.
ASSIGNOR: ASSIGNEE:
M & K LTD. PIER PRESSURE MARINE IA,INC.
By: By:
Keith Kann, President Ryan Becker, President
i
I
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CONSENT,ACKNOWLEDGMENT AND AGREEMENT
OF CITY OF DUBUQUE
The City of Dubuque (the "City") has executed this Consent, Acknowledgment and
Agreement (this "Consent") as of this day of April, 2015. Unless otherwise defined
herein, capitalized terms used in this Consent shall have the meanings ascribed to such terms in
the foregoing Assignment of Lease dated as of March , 2015 (the "Assigmnent"), between
M & K Ltd. ("Assi ng_or") and Pier Pressure Marine IA, Inc. ("Assignee"), to which this Consent
is attached and made a part thereof.
WHEREAS, Assignor and Assignee have entered into negotiations regarding the form of
an asset purchase agreement (the "Purchase Agreement"), pursuant to which it is contemplated
that Assignor will sell to Assignee and Assignee will purchase from Assignor substantially all of
Assignor's assets related to its operation of the Dubuque Marina.
WHEREAS, pursuant to the Purchase Agreement, Assignor has agreed to sell, assign,
and transfer to Assignee all right, title, and interest in and to, and Assignee has agreed to
assume all of Assignor's prospective obligations under, that certain Lease and Agreement
between Assignor and the City of Dubuque dated October 29, 1956, as amended October 26,
1956, December 25, 1957, June 11, 1973, October 3, 1988, and April 12, 1999, with respect to
all property and property rights for the rental and utilization of the real property described
therein(the "Lease").
NOW, THEREFORE, for good and valuable consideration the receipt and sufficiency of
which is hereby acknowledged, the City hereby agrees with and certifies to Assignee as follows:
1. A true, correct and complete copy of the Lease is attached hereto as Exhibit A,
which Lease is in full force and effect and has not been changed, modified, amended or
supplemented.
I
2. Neither the City nor Assignor is in default in the payment or performance of its
respective obligations under the Lease.
3. The City hereby: (a) consents to all of the terms and provisions set forth in the
Assignment; and (b) acknowledges and agrees that, upon the effectiveness of the Assignment, all
of the interests and rights of Assignor under the Lease shall be transferred to Assignee and that
the City, from and after the Closing, shall be bound to Assignee under all of the terms, covenants
and provisions of the Lease arising on or after the Closing with the same force and effect as if
Assignee were an original party thereto. Notwithstanding the foregoing, the City acknowledges
and agrees that Assignee shall not be deemed to have assumed any of Assignor's obligations,
duties, responsibilities, liabilities or commitments under the Lease to the extent such obligations,
duties, responsibilities, liabilities and commitments arise out of, relate to or are in respect of the
period prior to the Closing, it being understood that Assignor remains solely liable for its
obligations thereunder.
4. If any provision hereof is invalid or unenforceable in any jurisdiction, then, to the
fullest extent permitted by law: (a) the other provisions hereof shall remain in full force and
5
effect in such jurisdiction and shall be liberally construed in order to carry out the intentions of
the parties hereto as nearly as may be possible; (b) the invalid or unenforceable provision shall
be amended by the parties in order to carry out the intentions of the parties hereto as nearly as
may be possible; and (c) the invalidity or unenforceability of any provision hereof in any
jurisdiction shall not affect the validity or enforceability of such provision in any other
jurisdiction.
5. This Consent shall be governed by and construed according to the internal laws
(as opposed to conflicts of law provisions) of the State of Iowa.
6. The city hereby represents and warrants to Assignee that: (a) the making,
execution, delivery and performance of this Consent by it has been duly authorized by all
necessary municipal action; (b) the execution, delivery and performance of this Consent and the
transactions contemplated hereby are not and will not be subject to any approval, consent or
authorization by such party, any other party or any governmental authority, unless such consent
has been obtained prior to execution hereof; and (c) this Consent is the valid and binding
obligation of the City, enforceable against it in accordance with its terms.
CITY OF DUBUQE
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A_ G R E E M E N T
This Agreement entered into by and between the CITY
OF DUHUQU41 IOWA. through its board:.of Dock Commissioners, as
First Party, and Dubuque Marina, Inc,, as Secdnd Party,
W I T ry li-S'S E T H
Whereas, the parties hereto have heretofore entered
into a lease and agreement for a tract of land located on the -
south side of the nee re boat Harbor in the City of Dubuque,
which.lease is dated1956; and
Whereas, the said lease provides for a term often
(10) years, commencing January 1 1957 and, ending December 31,
1966with a renewal option or an a itional periods ten
, -
TMT years, commencing on January 1, -1967 and ending on'Decem-
ber .31:'1976; and
Whereas, Second Party desires to erect permanent
improvements on the demised premises with an anticipated
longevity greater than twenty (20) years and have requested
an additional renewal option of thirty (30) years from Decem-
ber, 31,
ecem-ber.31, 1976, to protect their investment in said permanent
improvements;. and
Whereas, in consideration of the .agreements herein-
after set forth, the parties hereto desire to enter into such
renewal. option{ -
flOW THEREFORE, IT IS AGREED by and between the par-
ties hereto as.follows:
1. . That in the event Second Party has complied
:with all the terms and conditions of said Lease, and
shall not:be in default .therein, 'and shall have exer-
cised the option granted in. Paragraph 2 of said Lease,
then and in that event Second Party is granted .the -f
option of renewing eaid.lease for an additional period
of thirt e�arss, .00mmencing on .the 1st day of January,
1 fan ending on theist day ofecember,
by giving Lessor written notice-of its exercise or such
option at least sixty (60) days prior to December i,
1976;
2. In the event Second Party shall exercise the
option granted in Paragraph I hereof the same Lerma -.
and conditions as provided for in the original Lease
shall apply, except that commencing with the year
a1977 the minimum annual rental shall be Two Thousand
o ars ($2,0001;
3. That effective immediately upon the exact-
tion of this Agreement, Paragraph 6(d) of the ori-
ginal Lease is amended to read as oIlowa:
"6 (d) To construct, insall and maintain from
time to time during the term of the lease, or any '. .
extension thereof, such additional boat floats and
mooring aecomodations as the public demand may from -.
time to time require, which shall be safe, subetan- 1
"tial and orderly. No boat houses shall be permitted. � „ L
Forthe purposes of this paragraph the "public demand"
,
2-
as used herein shall mean the public demand for boat X
floats and mooring sccomodatibns at reasonable rates
and charges as the same exists on April 1 of each �Y+'
year." !I
°IN WITNESS WHEREOF the parties hereto have caused the " a
due, execution .of.this�Agreement in duplicate aR of the day and
year written opposite their names,
Dated¢ CITY OF UUnU U&, IOWA, Lessor -
/F'r7.or(.ai o7/ /956 BY G .
It's Hoard f Dock Commissioners,
Datedr • j DUnUQUE MRI wA, I�nG., Leasee,
CXCZa[�eti�,� i 956
By.
1
s
WOWLEASE AND AGREEMENT ..... s
✓l/' - This Lease and Agreement made and entered into this
29th day of October, 1956 by and between the My OF DUBUQUE,
IOWA, a municipal corporation of Iowa, through its duly authorized .
Board of Dock Commissioners, hereinafter called "Lessor" and
Dubuque Marina Ino., an Iowa corporation, whose principal place
of bus ineas is 804 South Grandview Avenue, Dubuque, Iowa, herein-
after called "Lessee", providing for the lease of the following
described real estate, hereinafter referred to as the "demised
premises",. to-wit;✓
A tract of land located on the south aide of the Pleasure
Boat Harbor in the City of Dubuque, Iowa, as outlined in
red on the attached sketch, together with the exclusive -
right to moor boats and floats along the entire waterfront
of the Pleasure Boat Harbor and right of access in common
with the public to the harbor slopes,
WITRESSETH.
1. Lessor does hereby lease to Losses the demised
premises hereinbefore described, to have and to hold the same
for a period of tan (10) years commencing withthe let day of
January, 1957 and ending on the 31st day of December, 1966.
2. Lessee is hereby granted the option of renewing
this lease for an additional period of ten (10) ya ors commencing
on the let day of January, 1967 and ending on the 31st day of
December, 1976 under the a.. termsand conditions as provided
herein, by giving Lessor written notice of its exercise of such
option at least sixty (60) days prior to the expiration of the
original term of this lease.
3. Lessee egress to pay to Leaser as rental for said
premises annual rentals as follows;
(a) For the years 1957 to 1961, inclusive, an annual rental
equal to one per cant (1%) of the gross sales, as herein
defined, but not less than One Thousand Dollars ($1,000) in f
any one year;
(b) For the years 1962 and each year thereafter, during the . t
term of this lease, or any renewal thereof, the 'annual rental
shall be asum equal to one-and one-half per out (1 1/2%)
of the gross sale. as herein defined, but not less than One
Thousand Dollars (1,000) in any one year; ,
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(c) However, in any year during the term of this lease in
which the gross sales, as heroin defined, shall equal or
exceed $200,000, the rental for much year shall be a sum
equal to two per cent (2%) of such gross sales.
4. The rentals herein provided for shall be due and
payable as £ollowaf
(a) On January 2, 1957 Leasee -hall deposit with Lessor the
sum of One Thousand Dollars ($1,000) to secure the payment
of the r ental due under the terms of this lease;
(b) On or before January 30th of each year during the term
of this lease, or any ex teaeion thereof, commencing with ..
Jenuary 30, 1950 Lessee -hall submit to Lessor a statement
certified by a certified public accountant showing the .gross +
sales as herein defined during the preceding year, together
with a remittance of the rental for such preceding year.
5. The term "gross sales" as used herein shall mean
and include all cash or accrued receipts from the sales of goods,
services, or merchandise by Lessee and shall include -ales or
services made by any affiliate or sub-tenant of lessee which
originated in or were consumated through the operation of said
boat harbor, but shall not include sales of gasoline, diesel
fuels, or special motor fuels, or amounts received In payment of
State, Federal or Municipal -ales, excise, admissions or enter-
tainment taxes.
6. In consideration of the lease of said property and
the covenants hereinafter set forth Lessee agrees:
(a) Prior to June 1, 1957 to construct and install sufficient
floats to accomodate a minimum of one hundred (100) boats.
(b) Prior to August 1, 1957 to construct a service building
on the leased area. The service building shall contain toilet
and shower acoomedations for men and women, a refreshment stand,
a store and such other services and equipment as may be
necessary and Incidental to most the needs of the public in the
operation of a pleasure craft harbor: The building shall be a
permanent structure of masonry construction and built in
accordance with plans approved by lessor, of a minimum size of.
221 x 60, .
(c) Prior to June lot, 1957 to construct a boat maintenance
building is accordance with plans approved by lessor, provided,
however, that in the event Lessor shall require that such
building be of masonry construction, mutually agreeable pro-
vision shall be made for the purchase of said building by lessor
from lessee upon the termination of the leasee
(d) To construct, install and maintain from time to time during
the term of the lease, or any extension thereof, such additional.
boat floats and mooring accomodations as the public demand may
from time to time require, which shall be safe, substantial and
orderly. No boat houses shall be permitted.
41 �
� A
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(a) To construct, install and oparate, during the term of this
Is sae, or any extension thereof, an approved gasoline and oil
float near the mouth of the harbor and to provide facilities
for furnishing potable water to boats.
(f) To use the premises only for the buslcees of a marine or
pleasure boat harbor and lessee shall be diligent in the
prosecution of the business of a boat harbor operator and will
do those things necessary and proper to serve the public fairly
and adquately and without discrlminetion.
To eaeot reasonable rates and chargee focalities with
the
the usual rates and charges for comparable facilities on the
Upper Mississippi River.
(h) Prior to September 1, 1957 to provide and install an
adequate hoist for hauling out boats and cruisers.
.(i) To maintain the buildings, grounds and harbor slopes in
a aVre, clean, neat and orderly condition at all times and
adequately lighted. $Ss clause, however, shell not include
the duty to repair any damage to the harbor elopes not caused
by lessee or its agents or licensees. Lessor shall, within a
reasonable time, repair any damage to the harbor elopes which
substantially interferes with the full use and enjoyment of the
promises.
(.j) 3b comply with all applicable State, Federal and Municipal.
laws and regulations and use its best efforts to require the
tenants, patrons, licensees and suppliers to observe such laws
and regulations and td prevent arty nuisance being oommitted)on
the harbor area.
(k) 1b provide insurance in oompanies authorized to do business
in Iowa, in such amounts as the Lessor may determine good
practice require..
(1) To fence the service area on the land sides with an eight
foot cyclone type fence.
7. In consideration of the payment of the rentals herein
reserved and the observance of the conditions herein to be performed
by leasee. lessor agrees;
(a) To provide suitable hard surface access roads in accordance
with the master plan heretofore adopted by the Dook Hoard.
(b) Prior to May let, 1957 to provide a water inlet for a '
boat hoist 16, x 481 near the south side of the harbor mouth
at a point 200 feet east of Farragut.0treet.
(a) Prior to September 1, 1957 to. extend City water service
to the area. i
(d) To drive not more than fifteen (15) piles for boat floats"
at pointe selected by the parties, provided, however, that
such edleotlonshall be made all at one time and not piecemeal..
(a) Prior to June 1, 1957 to provide not loss than 40,000
square feet or rock surfacing on the leased area for storing
boats.
(f) To arrange extension of electric service to the leased area.
(g) To dredge the harbor as often as may prove necessary toy,
provide reasonable use of the harbor by boats, y+'
B. Lessee agrees to make no permanent Improvements or'.' -2J{
Installations, or changes in the buildings or permanent struaturea '
without prior written approval of lessor. A
9. All rents and charges due and payable hereunder shall;
be delivered to the Dock Board at its office In Dubuque, Iowa, on
or before the du. date specified herein. _
10. Lessor agrees to pay all taxes and assessments,
general or specialp that may be levied against the real estate;
lessee, however, agrees to pay all taxes levied or assessed -
against the improvements placed upon said premises, or pore mal
property thereon, or the business conducted thereon.
11. During the term of this lease, or any extension
thereof, 'lessee shall have the right to aub-let or assign any or
all of Its rights in and W the said premises, provided, however,
that anysuch sub-lease or assignment shall have the prior written
'approval of the lessor to the end that le asorfs interests shall
be fully protected. It is understood, however, that the provisions
of this clause shall not apply to the leasing of boat storage
spaces from year to year by lessen in its usu 1 -.hXasi0f,�baein
12. Upon :the termination of this Aessep tZ
thereof, if option ie oxorcised) for any cau.s all
Improvements erected on the demised area in.accord
term. of this leaser except the boatmalnien.ace srd'repair. ui^ d
and any equipment installed by Lessee that cern be removes uit8out'x
injury to the buildings or ground., =hell become tho pr.P,-ty O
the lessor and it I. understood that this pro vi at on is pert ofthey
consideration for the granting of this lease by leaser. _
shall have s period of sixty (60) days after the terminatl on of
the lease to affect the removal of such property and the failure
to remove any of such improvements or other property,within m oh
sixty day period shall constitute an abandonment thereof, uaq as
the parties hereto otherwise agree in writing.
13. If lessee shall make default 1n the payment of they
rental. hereunder, or any part thereof, or shall make default fn'"
the performance of any of the other covenants herein contained,
:r:N
and such default shall continue for a period of thirty (30) days-
after written notice thereof, mailed to lessee at its address
stated in the preamble hereof by United States Registered Mall, ,
then it shall be lawful for lessor, at its election, to declare .
the term of this leaeeended sad to re-enter upon the leased
premises, with or without process of law, and to expel and remove
lessee or any person or parsons in or upon the same, using such
force as may be necessary under the circumstances; and if at any
time, by reason of such default of the lessee and the continuance
thereof for such period of thirty (30) days after written notice
has been (riven said term shall be so ended, lessee hereby covenants
and agrees to surrender end deliver up the leased premises peaceably
to the lsssor.
14• It is agreed between the parties that the waiver by
lessor, or the lessee, of any breach of any term, covenant or
condition herein contained, shall not be deemed to be a waiver of
any subsequent bread] of the same, or any other term, covenant
or condition herein contained.
IN WITNESS WHEREOF the partle s hereto have caused the
due execution of this agreement, in duplicate, as of the day and
year first above written.
CITY OF DUBUQUE, IOWA, Ls ssor,
By A. Y. McDonald. Chairman
Fred Neyens, Secretary
Frank L. Wapner
Its Board of Dock Commissioners
DUBUQUE MARINA INC., Lessee
By. Coors. V. Weber
T. B. Roshek
Glenna Weber
1 original lease is in Dock Board l Book
1 original lease is with George Weber
/ x
LEASE: AMD AGREEMENT , \
.' This Lease� and Agreement made and entered into this
day of 11956 by and between
x
the CITY OF DUBUQUE, IOWA, a municipal corporation of Iowa,
through its duly authorized Board of Dock Commissioners, here-
inafter called "Lessor" end Dubuque Marina Inc., an Iowa cor-
poration, whose principal.place of business is 804 South Grand-
view Avenue, Dubuque, Iowa, hereinafter called "Lessee", pro-
viding for the lease of the following described real estate,
hereinafter refeihed to as the "demised premises", to-wit:
A tract of land located on the south side of the Pleasure
Boat Harbor in the City of Dubuque, Iowa as outlined in
red on the attached sketch, :together,with the exclusive
right to moor boats and floats along the entire water-
front of the pleasure Boat Harbor and right of access in
common with the public to the harbor elopes,
WITNESBpTB:
1. Lessor does hereby lease to Lessee the demised
premises hereinbefore described, to have and to hold the same
for a period of ten (10) years commencing with thelst day of
January. 1957 and ending on the 31st day of December. 1966.
2. Lessee is hereby granted the option of renewing
this lease for an additional period of ten (10) years commenc-
ing on the let day of January, 1967 and ending on the 31st
day of December, 1976 under the same terms and conditions as
provided herein, by giving Lessor written notice of its exer-
cise of such option at least sixty (60) days prior to the ex-
piration of the original term of this lease.
3. Lessee agrees to pay to Lessor as rental for
said premises annual rentals as follows:
(a) For the years 1957 to 19611t inclusive, an
annual rental equal to one per cent ` %) of the gross
sales, as herein defined, but not less than One Thousand 6
Dollars ($1,000) in any one year;
(b) For the years 1962 and each year thereafter,
Buri g the.term of this lease, or any renewal thereof, +a"
the ;nnual rental stall be a sum equal to one and one-
half per cent (1 12,4) of the gross sales, as herein de- . .-
fined, but not-lase than One ThousandBoilers ($1,000) t?.'
in any one year; {{
1
PW
_2..
(cl However, in any year during the term of this
lease in which the gross sales, as herein defined, shall
equal or exceed $200,000, the rental for such year shall
be a sum equal to two per cent (2$) of such gross sales.
4. .The rentals herein provided for shall be due and
payable as follows:
(a) On January 2, 1957 Lessee shall deposit with
Lessor the sum of One Thousand Dollars ($1,000) to secure
the payment of the rental due under the terms of this
lease;
(b) On or before January 70th of each year during
the term of this lease, .or any extension thereof, comment-
ing with January 70, 1958 Lessee shall submit to Lessor
statement certified by a_certified public accountant
showing the gross sales as herein defined during the pre-
ceding year,. together with a remittance of the rental
or such preceding year.
5. The term "gross saleac as used herein shall mean
and include all cash or accrued receipts from the sales of
goods, services, or merchandise by Lessee and shall include
se esl or services made by any affiliate or sub-tenant'of lessee _
which originated in or were consumated through the operation
of said boat harbor, out shall not include sales of gasoline,
diesel fuels, or special motor fuels, or amounts received in
payment of State, Federal or Municipal sales, excise, admis-
sions or entertainment taxes.
6. In consideration of the lease of said property
and the covenants hereinafter set forth Lessee agrees:
(a) Prior to June 1, 1957 to construct and install
sufficient floats to accomodate a minimum of one hundred
(100) boats.
(b) Prior to August 1, 1957 to construct a service
building on the leased area. The service building shall
contain toilet and shower accomodationa for men and women,
a refreshment stand, a store and such other services and
equipment as may be necessary and incidental to meet the
needs of the public in the operation of a pleasure craft
harbor. The building shall be a permanent structure of
masonry construction and built in accordance with plans
approved by lessor, of a minimum size of 221 x 60*.
(c) Prior to June let, 1957 to construct a boat
maintenance building in accordance with plans approved by
lessor, provided however, that in the event Lessor shall
require that sua building be of masonry construction,
mutually agreeable provision shall be made for the pur-
6chase of said building by lessor from lessee upon the
termination of the lease.
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(d) To construct, install and maintain from time
to time during the term of the lease, or any extension
thereof, such additional boat floats and mooring acaomo-
dations as the public demand may from time to time require,
which shall besafe, substantial and orderly. No boat houses
shall be permitted. .
(e) To construct, install and operate during the
term of Ahis lease, or any extension th wear, an approved.
gasoline and oil float near the mouth of the harbor and"
- - to provide facilities for furnishing potable water to boats.
(f) To use the premises only for thee- business of a
marine or pleasure boat harbor and lessee shall be diligent
in the prosecution of the business of a boat harbor operator
and will do those things necessary and proper to serve the
.public fairly and adquately and without discrimination.
. (g) To exact reasonable rates and charges consistent
with the usual rates and charges for comparable facilities
on the Upper Mississippi River.
(h) Prior to Septemo er 1 1957 to provide and in-
stall an adaivate hoist for hauling out boats and cruisers.
(i) To maintain the buildings, grounds and harbor
slopes in a safe, clean, neatand orderly condition at
all times and adequately lighted. This clause, however, V
shall not include the duty to repair any damage to the
harbor slopes not caused by lessee or its agents or li-
cenases. Lessor shall, within a reasons ble time, repair
any damage,to the harbor slopes which substantially inter=
fares with the full use and enjoyment of the premises.
(,j) To comply with all applicable State, Federal and
Municipal laws and regulations and use its best..efforW to
require the tenants, patrons, licensees and suppliers to 1%
observe such laws and regulations and to prevent any nui-
sance being committed on the harbor area.
(k) To provide insurance in companies authorized to
do business in Iowa, in such amounts as the Lessor may de-
termine good practice requires.
(1) To fence the service area on the land sides with
an eight foot cyclone type fence.
7. In consideration of the payment of the rentals
herein reserved and the observance of the conditions herein
to be performed by lessee, lessor agrees:
(a) To provide suitable hard surface access roads
in accordance with the master plan heretofore adopted by
the Dock Hoard.
(b) Prior to May let, 1957 to provide a water inlet for a
boat hoist 16, x 4$1 near the south side of the harbor mouth
at a point 200 feet .east of Farragut Street. .
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(c) Prior to September 1, 1957 to extend City water - -�
service to the area,
(d) To drive not more than fifteen (15) piles for
boat floats at points selected oy the parties; provided,
however, that such selection shall be made all at one
time and not piecemeal.
(e) Prior to June 1, 1957 to provide not less than
40,000 square feet of rock surfacing on the leased area
for storing Wets.
(f) To arrange extension of electric service to the
leased area.
(g) To dredge the Farber as often as may prove neces-
sary to provide reasonable use of the harbor by costa.
8. Lessee agrees to make no permanent improvements
or installations, or changes in the buildings or permanent
structures without prior written approval of lessor.
9. All rents and charges due and payable hereunder
shall be delivered to the Dock Board at its office in
Dubuque, Iowa, on or before the due date specified herein.
10. Lessor agrees to pay all taxes and assessments,
general or special, that may be levied against the real estate;
lessee, however, agrees to pay all taxes levied or assessed
against the improvements placed upon said premises, or personal
property thereon, or the business conducted thereon.
11. During the term of this lease, or any extension
thereof, lessee shall have the right to sub-let or assign any
or all of its rights in and to the said premises, provided,
however, that any such sub-lease or assignment shall have the
prior written approval of the lessor to the end that lessorfa
interests shall be Hilly protected. It is understood, however,
that the provisions of this clause shall not apply to the leas-
ing of boat storage spaces from year to year by lessee in its
usual course of business.
12. Upon the termination of this lease , (or
the renewal thereof, if option is exercised) for any cause
all buildings and improvements erected on the demised area in
accordance with the terms of this lease, except the boat main-
tenance and repair building and any equipment installed by Les-
see that coni be removed without injury to the buildings or
grounds, shall become the property of the Imaor and it is under-
stood that this provision is part of the consideration for the
granting of this lease by lessor. Lessee shall have a period
of sixty (60) days after the termination of the lease to ef-
fect the removal of such property and the failure to remove
any of .such improvements or other property within such sixty
day period shall constitute an abandonment thereof, unless
the parties hereto otherwise agree in writing.
13. If leasee shall make default in the payment of
the rentals hereunder, or any part thereof, or shall make de-
fault in the performance of any of the other covenants herein
contained, and such default shall continue for a period of
thirty (30) days after written notice thereof, mailed to les-
see at its address stated in the preamble hereof by United
States Registered Mail, then it shall oe lawful for lessor, at
its election, to declare the term of this lease ended and to
re-enter upon the leased premises, with or without process
of law, and to expeland remove lessee or any person or parsons
in or upon the same, using such force as may be necessary under
the circumstances; and if at any time, by reason of such de- _
fault of the lessee and the continuance thereof for such period
of thirty (301 days after written notice has seen given said
term shall be so ended, lessee hereby .covenants and agrees to
surrender and deliver up the leased premises peaceably to the
lessor.
l �
v
14. It is agreed between the parties that the waiver
by lessor, or the lessee, of any breach of any term, covenant
cr condition herein contained, shall not bedeemedto be a
weaver of any subsequent breach of the same, or Any other term,
covenant' or condition herein contained.
IN WITNESS WHER40F the parties hereto have caused
the due execution of this agreement, in duplicate, as of the
''day and year first above written.
GITY OF DUBUQUE, IOWA, Lessor,
.— Its H rd of Dock Commissioners
DUBUQUE MARIBA IBC„ Lessee
1
v
MODIFICATION OF LEASE
Whereas, the parties hereto, on October 29, 1956,
entered into a lease and agreement concerning the leasing of
property therein described, and generally known as the "Pleasure
Boat Harbor"; and
Whereas, under the provisions of Paragraph 7b of said
Lease the Lessor agreed to provide a water inlet for,a boat
hoist 16, x 48' in size, near the south side of the harbor ,
mouth, prior to May let, 1957; and
Whereas, due to shortage of sheet steel piling Lesa
195 ';bees able to provide said boat well prior to �2[J
G
Whereas, in order tr, provide for the effective use o
fa;�
said boat well. Lessee desires to increase the leased area to
include a strip forty-five feet (451) wide and two hundred feet
(2000 long, designated as Tract B on the attached plan; and
Whereas, the parties are desirous of entering into
an agreement to provide for the modification of said lease to
accomplish the above stated objectives;
NOW THEREFORE, IT IS MUTUALLY AGREED, between the
parties hereto as follows:
1. That the leased area under the lease described in the
preamble hereof shall include the tract of land two hundred
feet long (20011 and forty five feet (451) wide, designated as
"Tract .H" on the attached plan;
2. That the time for the performance of Lessor 1s obliga-
tionClause 7b of said Lease and Agreement is extended
to G, ?_eO_Vxo, 195 /+M
Dated at Dubuque, Iowa, this day of
A.D. 1957.
CITY UllU nU i IOWA, Lessor,
c ono
( 611 Neyena)
(F•ank L. Wagner)
Its Board of Dock Commissioners
DUDUQU, ,ARINA INC, Lessee,
B
(George V. eber
(T.B.Roshek)
(Glenna Weber)
\4
AMENlItENT TO LEASE
THIS AGREEPIRNT entered into by and between City of Dubuque
Iowa, ghrough its Board of Dock Commissioners, as Firat Party,
and Dubuque Marina, Inc., as Second Party, do hereby amend the
written Lease entered into by and between theparties hereto,
dated October 23, 1956;
NOH THEREFORE for good and valuable consideration, receipt
whereof is herewith acknowledged by First Party from Second Party
and for and in consideration of, the mutual cunvenants herein to be
kept and maintained by the parties hereto, said written Leave
Agreement bearing date of October 29, 1956 be and the same is hereby
amended in the following particulars:
1. That the preamble thereof be and the some is hereby
amended by adding the following, to-wit:
"'Tract "C"and Tract "D" located in the easterly end
of the Pleasure Boat Harbor in the City of Dubuque,
Iowa and as outlined in red on the respective Exhibits
marked "B" and "C"."
2. "Lessor does hereby lease to Leasee the demised premises
hereinbefore described,to have and to hold the same for the period
of yO years commencing With the /.,.e—day of
�,: 19 Zj and ending on the 3L,F•;i 7 day o£
19 .
3. Said Lease is hereby amended by striking Paragraph 2
thereof, and inserting in lieu thereof:
11 2 . Lessee is hereby granted the option of renewing the
Lease fir an additional period of .30 years Commending On the
day of Qx . 1999el and ending on the
day of &I k3aa'a9 under the same terms and
conditions as provided herein by giving Lessor written notice of its
exercise of such option at least sixty (60) days prior to the ex-
piration of the Original term of this lease,"
IN WITNESS WHEREOF the parties hereto be caused the due
execution of this Agreement this _rr/_r L", day of 1973.
CITY OF DUBUQUE, IOWA, Lessor,
By.
Its Board of Dock Commissioner.
DUBUQ NINA, LNC.. Lee e,
BY:
AMLODMENT TO LEASE AGREEMENT
This Amendment to Lease Agreement is entered into this
3rd day of October , 1988, between the City of
Dubuque, Iowa (City) , an Iowa municipal corporation, and American
Marine of Iowa, Inc. (American) .
WHEREAS, the City and Dubuque Marina, Inc. entered into
a Lease and Agreement, dated October 29, 1956 , which Lease and
Agreement was amended by amendments of October 26, 1956,
December 25, 1957, and June 11, 1973;
AND WHEREAS, Dubuque Marina, Inc. has assigned or will
assign all its interest in the Lease and Agreement, as amended,
to American, by an assignment to be effective December 31, 1988;
AND WHEREAS, the City and American now desire to further
amend the Lease and Agreement, as amended.
NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS:
1. This Amendment to Lease Agreement shall take effect
if and only if Dubuque Marina, Inc. assigns all its interest in
the Lease and Agreement dated. October 29, 1956, as amended, such
assignment to take effect on December 31, 1988.
2. The City hereby leases to American two additional
tracts of land identified on the attached Exhibit A as "Tract E"
and "Tract F, " upon the terms and conditions set forth herein.
3. Tracts E and F are subject to utility easements, shown
on attached Exhibit B, which are hereby preserved, and American
acknowledges and agrees to preserve such easements, and in addi-
tion, specifically agrees as follows:
(a) The City reserves a perpetual and assignable right
to enter upon Tracts E and F for the purpose of maintaining,
repairing, operating, patrolling and replacing the. existing flood
control levy and all appurtenances thereto, which shall include
the right to clear, cut, fill, remove and dispose of any and all
timber, trees, underbrush, buildings or other obstructions. Ameri-
can shall not construct any structure or operate any machinery on,
under or across the levy, nor excavate or make any changes in the
levy or on Tracts E or F without the prior written consent of the
U. S. Army Corps of Engineers and the City, which shall require
that any such construction, operation or alteration will not ad-
versely affect the functioning of the flood control levy. Ameri-
can shall submit a written request and plans to the Corps of Engi-
neers and the City for any such construction, operation or altera-
tion.
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(b) The City reserves unto itself a 20 '-wide easement
for the water line on Tract F. as shown on attached Exhibit A.
4. Prior to making any improvements in or on Tracts E
and F, American shall comply with all applicable local ordinances
and state and federal laws and regulations.
5. Paragraphs 3, 4 and 5 of the Lease and Agreement
dated October 29, 1956, as amended, are hereby deleted, and
the following are substituted in lieu thereof:
3. Beginning in 1989, the annual base rental paid by
American to the City shall be $15,000 for 1989 ,
_ 1990, 1991 and 1992. The base rental shall be
increased or decreased annually beginning in 1990
by the increase or decrease in the Consumer Price
Index for Urban Wage Earners and Clerical Workers,
United States City Average, from August, 1988 to
the anniversary date of the original Lease and
Agreement in each lease year, according to the
Schedule of Rental Payments, attached as Exhibit C-
4- Rental payments representing the base rental plus
adjustment for cost of living shall be due and
payable as follows :
For 1989: 1/2 on December 31, 1988
1/4 on April 1, 1.989
1/4 on July 1 , 1989
For 1990 and all subsequent years, quarterly, on
October 1, January 1, April 1 and July 1
Rental payments shall be made to the City Treasurer,
City Hall, Dubuque, Iowa 52001.
5 . In no event shall the rental payment for 1989 ,
1990, 1991 or 1992 be less than $15 ,000. In no
event shall the rental payment for any year after
1992 be less than $18, 000 if no building is
constructed as provided in the Schedule of Rental
Payments, nor less than $15,000, if a building is
constructed as provided in the Schedule of Rental
Payments.
6. Paragraph 11 of the Lease and Agreement of October 29,
1956, as amended, is hereby amended by adding at the end thereof
the following:
-3-
Notwithstanding the foregoing, American shall have the
right to sublet the restaurant facility located on the leased
premises without the consent of the City.
7. This amendment shall take effect at midnight on
December 31, 1988 .
City of Dubuque, Iowa American Marine of Iowa, Inc.
by: L by: j-• �
Jame . Brady, Mayor acid H. task
its . �.
r
AMENDMENT TO LEASE AND AGREEMENT
BETWEEN
THE CITY OF DUBUQUE.IOWA
AND
DUBUQUE MARINA, INC.
This Amendment to Lease and Agreement dated October 29, 1956, as amended,
between the City of Dubuque, Iowa(City) and Dubuque Marina, Inc. (Marina) is made
and entered into this 12 day of April 1999.
WHEREAS, City and Marina entered into a Lease and Agreement dated
October 29, 1956,which Lease and Agreement have been amended from time to time,
including an Amendmeu:to Lease dated October 29, 1956 which granted to Marina an
option to extend the Lease and Agreement to December 31, 2023;
AND WHEREAS, Marina bas exercised its option to extend the Lease and
Agreement to December 31, 2023;
AND WHEREAS, City and Marina now desire to further amend the Lease and
Agreement as set forth herein.
NOW,THEREFORE,IT IS AGREED BY AND BETWEEN THE PARTIES AS
FOLLOWS:
L The term of the Lease and Agreement is hereby extended from December 31,
2023 to December 31,2028.
2.For the period commencing on January 1,2024 and ending on December 31, -
2028, the annual rent for the leased premises shall be at than current fair market rates as
agreed by the parties or as determined by the following process. If the panties cannot
agree to a fair market rental rate at least ninety(90)days prior to December 31,2023,
they shall jointly appoint an MAI real estate appraiser to determine the market rent. If
the parties cannot agree on an appraiser,each shall appoint its own IvIAl appraiser and the
- two appointed by the parties shall select a thud. The average of the fair market rents
determined by the three appraisers shall be the annual rent for the period commencing on
January 1,2024 and ending on December 31,2028.The annual rem shall be paid in four
equal installments by not later than October l of each year and by not later than January
1,April 1 and July 1 of the following year,the first such installment being not later than
October l of 2024.
3. This amendment is conditioned upon and shall not take effect until the closing
of the purchase of the assets of Dubuque Marina,Inc.by Keith Kana and Mary Wilhelm
and after due execution and assignment of the Lease and Agreement by Dubuque Marina,
Inc„ to Keith Kann and Mary Wilhelm.In the event that the sale of the assets of
Dubuque Marina,Inc.to Keith Kann and Mary Wilhelm or the assignment of the Lease
and Agreement fails to close by the 1 st day of May, 1999,then this amendment shall be
of no force or effect
4.All other terms and conditions of the Lease and Agreement, as amended, shall
remain in full.force and effect. -
CITY O�DUBUQ ,IOWA D U A,INC.
By/aTe ce M.Duggan, or It OE CAS GIOVAD[NI
Attest
By
Mary avis, City Clerk Its -
ASSIGNMENT OF LEASE
The undersigned, Sandpiper, Inc. , an Iowa corporation,
formerly known as Dubuque Marina, Inc. , an Iowa corporation, and
Joe Castrogiovanni, individually, and only if a party to the
leases individually does hereby sell, assign and transfer as part
of an asset sale to M & K, Ltd. , an Iowa corporation, all right,
title and interest in and to any and all leases, modifications and
extensions thereof of any form or nature which they own wholly or
partially naming them as tenants and the City of Dubuque, Iowa, as
landlord, for all property and property rights for rental and
utilization of the riverfront property at Eagle Point Ext . ,
Dubuque, Iowa, being utilized at this time as Dubuque Marina (this
assignment relates to all property rights and lease rights of any
form or nature owned by assignor for said real estate
utilization) . With this assignment, M & K, Ltd. does hereby agree
to assume all of the rights, duties and obligations under said
lease or leases, modifications and extensions thereof and agrees
to hold the Seller harmless for same. Buyer assignees, M & K,
Ltd. , and Keith Kann and Mary Wilhelm, personally and as
individuals, agree to be bound by the terms.
The consideration for this assignment is a dollar amount to
be allocated by Buyer's accountant to the subject matter of this
agreement from the overall sale price that M & K, Ltd. is paying
for the assets of Dubuque Marina, Inc.
Both parties wild execute all documents and cooperate in all
respects sufficient to have this assignment approved by the City
of Dubuque so as to affectively convey and assign the leases,
modifications and extensions thereof.
Dated this 36day of 1999 .
SANDPIPER, INC. , f/k/a Dubuque Marina, Inc.
�J CASTR70 OVA4 QI, President
M & K LTD. M & Ky LTD.
KE H , Presid nt MARY WI •SSM, Sec. /Tres. •
and personally and and per onally and
as an individual as an individual
STATE OF IOWA, COUNTY OF DUBUQUE, SS:
On this 30th day of April, 1999, before me, the undersigned,
a Notary Public in and for said State, personally appeared Joe
Castrogiovanni, to me personally known, who being by me duly
sworn, did say that he is the President, respectively, of the
corporation executing the within and foregoing instrument, that no
seal has been procured by the corporation; that the instrument was
signed on behalf of the corporation by authority of its Board of
Directors; and that Joe Castrogiovanni as an Officer acknowledged
the execution of the foregoing instrument to be the voluntary act
and deed of the corporation, by it and by him voluntarily
executed.
Notary Public in and i6r said State
STATE OF IOWA, COUNTY OF DUBUQUE, ss:
On this 30th day of April, before me, the undersigned, a
Notary Public in and for the State of Iowa, personally appeared
Keith J. Kann and Mary J. Wilhelm, to me personally known, who
being by me duly sworn, did say that they are President and
Secretary/Treasurer, respectively, of the corporation executing
the within and foregoing instrument to which this is attached,
that no seal has been procured by the corporation; that said
instrument was signed on behalf of the corporation by authority of
its Board of Directors; and that Keith J. Kann and Mary J.
Wilhelm, as officers, acknowledged the execution of the foregoing
instrument to be the voluntary act and deed of the corporation, by
it and by them voluntarily executed.
zA 44'�
Nota Public in and for id State
LANDLORD'S CONSENT TO ASSIGNMENT
The City of Dubuque, Iowa, hereby consents to the foregoing Assignment
of Lease.
Dated:
CITY OFCUE, IOWA
DU
By: D.
44
Roy D. Bobl, Mayor
Attest:
Kevifi S. Fimstiflhl, Assistant City-Clerk
FdUSERS%tsteckleWndahMubuque Marinall.andlord'sConsenlTahssignment_05D608.doc