Specifications include, but are not limited to: A. Term – three (3) years (commencing July 1, 2024 and ending June 30, 2027). Borough will entertain terminating lease after 18 months at tenants request with 6 month prior notice. Tenant shall have the option to renew the lease for one additional three (3) year term for the same rent as year 3 increased by 3%. B. Per square foot rent amounts should be set forth on the bid proposal for year one (1) through three (3) of the lease agreement, with a minimum bid of $29.97 sq. ft., per year. The bid shall be awarded to the bidder whose cumulative bid for all three years is the highest. For example if bidder #1 bids the minimum bid for all three years, its cumulative bid with be $89.91. If bidder #2 bids $29.97 for year one, $30.97 for year two, and $31.97 for year three, its cumulative bid will be $92.91 and bidder #2 would be deemed the high bidder. C. The successful bidder will be responsible as its sole expense for any additional fit-up of the leased space needed for its tenancy. D. Utilities, if not metered separately, will be allocated between the public library on the upper level and the leased premises on the lower level on a cubic yards basis (tenant’s proportionate share of the lower level shall be 14.49%). E. The tenant will be responsible for interior maintenance of the leased space at its sole expense. F. In addition to base rent, the Tenant will be responsible for the payment of $2000.00 monthly towards premises exterior maintenance costs. Exterior maintenance shall include, but not be limited to: snow removal, grass cutting, generator maintenance, leaf cleanup, and maintenance of the sidewalks and parking area.
