HomeMy WebLinkAboutYOUNG PEOPLES LEARNING CENTER - PDP W/ADDITION OF PERMITTED USE - PDP140012 - SUBMITTAL DOCUMENTS - ROUND 1 - LETTER OF INTENTLetter Of Intent
The Letter of Intent is to verify negotiations regarding parking spaces for Young Peoples
Learning Center (YPLC) from Schrader Oil Company (SO) of Ft. Collins. The parties are
Dennis Griffith of YPLC and John Howe of SO.
The parties have tentatively agreed to terms for lease of spaces on the south side of the
Schrader gas station on the corner of College Avenue and Locust Streets. There are 10
spaces on that side of the building. YPLC is restricted to the six that are on the west end
of that area. The others are already dedicated to the gas station for their vendor's
delivery. There is a restriction that the spaces will not be available on weekends —
Saturdays and Sundays. (However that is not a problem as YPLC is not open on
weekends.) The lease rate will be $2.00 per vehicle per day. The parties will devise a
chit system to keep track of amounts due. Payments shall be made promptly by the 5tn
of each month following use. There is no presumption of use, nor will anything be
charged if the spaces are not used.
The length of term of this lease shall be for ten years. However, the lease amount will
be reviewed every 2 years. Nothing stated here shall be binding in the event that
Schrader Oil shall, at some time in the future, decide to sell this property.
Although I, John Howe, have the authority to negotiate this Agreement, final approval
must be granted by the owners who are out of town this week. It is my understanding
that YPLC is still working through this process with the City, so that their final need is
not yet established. If the need of this does end up being a final requirement, we shall
transfer this Letter Of Intent into an actual lease.
Agreed to this 29th day of July, 2014
John Howe, Schrader Oi Company Dennis Griffith, Young Peoples Learning
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