RESOLUTION NO. RS2003-1353

WHEREAS, the Metropolitan Government entered into a Lease dated November 19, 2002, for real property (the “Property”) located at 601 Mainstream Drive, Nashville, TN 37228; and

WHEREAS, pursuant to the terms of the Lease, the Metropolitan Government reserved the right to measure the space and adjust the rental amount based upon the amount of space as measured, if the measured amount is less than the amount of space indicated in the lease; and

WHEREAS, the Metropolitan Government has determined that the Property contains only 51,260 rentable square feet and, therefore, the rent payable should be changed from $377,139.00 annually to $358,810.00; and

WHEREAS, the Lender holding the mortgage on the Property is requiring that the Lease be subordinate to the mortgage; and

WHEREAS, Lessor and the Metropolitan Government desire to amend the Lease to correct the rentable square feet, the rental amount, and add the subordination language; and

WHEREAS, Ordinance No. BL2002-1212 provided that any amendments to the Lease shall be approved by resolution of the Metropolitan Council receiving twenty-one affirmative votes.

NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

SECTION 1. The attached Amendment to Lease (Exhibit A) between Peter Bruce, Ltd. and The Metropolitan Government of Nashville and Davidson County is hereby approved.

SECTION 2. This ordinance shall take effect from and after its passage, the welfare of The
Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Craig Jenkins

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee Planning & Zoning Committee
Introduced:	February 18, 2003
Adopted:	February 18, 2003
Approved:	February 24, 2003
By: