LETTER REGARDING LEASE EXPIRATION AND RENEWAL
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CITY OF CLEARWATER
POST OFFICE Box 4748, CLEARWATER, FLORiDA 33758-4748
TELEPHONE (727) 562-4750 FAX (727) 562-4755
PUBUC WORKS
ADMINISTRATION
March 30, 2001
Mr. Lloyd U. Noland, Jr., President
Noland Properties, Inc.
2700 Washington Ave., Suite 400
Newport News, Virginia 23607
RE: 5 year lease -1435 So. Greenwood Ave., Clearwater, Fl.
Dear Mr. Noland:
Noland Properties current lease of a portion of the referenced property owned by the
City of Clearwater will terminate on July 31, 2001.
Enclosed is lease documentation for your review and execution if Noland Properties
wishes to enter into a new five-year lease of this property commencing August 1, 2001.
You will find provisions of the enclosed agreement almost identical to the existing lease
with the following exception: Language in Article II (Term) provides Noland Properties
the option to extend the lease for additional five-year terms consistent with the City
Charter simply by providing timely notice of its intent to exercise that option.
The first twelve months rent reflects an adjustment based on the CPI change between
January, 2000 and January, 2001 - 3.7%. This change is made in compliance with
provisions of Article V of both the current and proposed lease.
If you will be returning the agreement for action by the Clearwater City Commission,
please do not date the agreement, and please return two sioned orioina/s by April 30,
2001 if Noland Properties would like an original counterpart for its files. I can reached
during normal business hours at (727) 562-4754 if you have any additional questions.
Sincerely,
Earl Barrett
Real Estate Services Manager
BRIAN J. AUNGST, MAYOR-COMMISSIONER
J.B. JOHNSON, VICE MAYOR-COMMISSIONER
ED HART, COMMISSIONER
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"EQUAL EMPLOYMENT AND }\.FFIRIAATlVE ACTION EMPI.OYF:R"
BOB CLAP];, COMMISSIONER
F. DAVlO HEMERlCK, COMMISSIONER