Blair Library Ownership Succession AgreementLAIR LIBRARY OWNERSHIP SUCCESSION AGREEMENT
THIS AGREEMENT made and entered into as of this 12 day of % Q Bch ,
20 f � by and between the BLAIR PUBLIC LIBRARY FOUNDATION, (the,
"FOUNDATION"), a nonprofit corporation duly organized and existing under the laws
of the State of Nebraska and the CITY OF BLAIR, NEBRASKA (the "CITY'), a
Municipal Corporation duly organized and existing under the laws of the State of
Nebraska.
WHEREAS, the Foundation and the City have agreed, through collaborative effort, upon
the terms of a lease to of the real estate, building and facilities to be utilized as the Blair
Public Library upon the real estate located in the City of Blair, Washington County,
Nebraska, more particularly described as,
LOT 86, DEERFIELD ADDITION, ON THE REPLAT OF LOT1 OF DEERFIELD,
AN ADDITION TO THE CITY OF BLAIR, WASHINGTON COUNTY, NEBRASKA
WHEREAS, the Foundation and the City desire to enter into an Agreement setting forth
the line of action of the parties for future control and ownership of the Blair Public
Library.
The Foundation and the City agree that the Blair Public Library will be conveyed to the
City in one (1) of the following methods;
The Foundation will donate the Blair Public Library to the City upon the
conclusion of the Foundation's principal loan obligation to the USDA if not
purchased pursuant to options two (2) or three (3) herein.
2. The City may purchase the library from the foundation at any time in the first
thirty-five (35) years of the lease agreement for a sum equal to the balance of any
remaining principal balance on the USDA loan plus a nominal fee of $20,000.00
3. After the first thirty-five (35) years of the lease agreement, the City may buy the
facility for a sum equal to a nominal amount to be negotiated and agreed to
between the City and Foundation.
At no time during the term of the lease and any extensions can the Foundation sell or
transfer title to any party other than City of Blair, except USDA for default of loan
agreement, without the approval of the City of Blair. This Agreement is secondary to,
not part of, the lease executed by the Foundation and the City.
This Agreement has been reviewed and accurately reflects the understanding of the
undersigned parties.
CITY OF BLAIR, NEBRASKA
B
J S E. REALPH, YOR
ATTEST:
B NDA R. WHEELER, CITY CLERK
STATE OF NEBRASKA )
) :ss:
WASHINGTON COUNTY )
On this 1_ day of A61rch , 2016, before me, the undersigned a Notary
Public, duly commissioned and qualified for in said county, personally came James E.
Realph, Mayor of the City of Blair, Nebraska, to me known to be the identical person
whose name is affixed to the foregoing agreement and acknowledged the execution
thereof to be his voluntary act and deed.
WITNESS my hand and Notarial Seal the day and year last above written.
Blair Public Library Foundation:
N , L�
NOTARY PUBLIC
J�GENNOTARY - State of Nebraska
ERAL
KATHERINE D LOLIDNER
My Comm. Exp. June 17, 2016
BY
STATE OF NEBRASKA )
) :ss:
WASHINGTON COUNTY )
On this day of , 2016, before me, the undersigned a Notary Public, duly
commissioned and qualified for in said county, personally came JoE%lCr) Mas,,,@& to
me known to be the identical person whose name is affixed to the foregoing agreement
and acknowledged the execution thereof to be his/her voluntary act and deed.
WITNESS my hand and Notarial Seal the day and year last above written.
h"A�a kw--
NOTARY
GENERAL NOTARY - State of Nebraska
KATHERINE D LOUDNER
My Comm. Exp. June 17, 2016
2