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Resolution of the Mayor and Council of Princeton Authorizing an Amended License Agreement with the Princeton Ballet Society
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WHEREAS, the Municipality of Princeton (the “Municipality”) is the owner of the real properties commonly known as the Westminster Choir College Campus located at 27 Franklin Avenue, Princeton, New Jersey, and 101 Walnut Lane, Princeton, New Jersey, and designated on the municipal tax maps as Block 7301, Lot 1, and Block 31.01, Lot 105, respectively (collectively, the “Property”); and
WHEREAS, on May 3, 2024, Rider University (the “University”) and the Princeton Ballet Society (the “Ballet Society”) entered into a license agreement, which was subsequently amended on September 16, 2024 (collectively, the “Original License Agreement”), to grant the Ballet Society a non-exclusive license to use certain facilities located on the Property, subject to the terms and conditions set forth therein; and
WHEREAS, the Municipality acquired the Property from the University and was assigned the University’s rights and interest in the Original License Agreement; and
WHEREAS, the Municipality and the Ballet Society entered into an amended license agreement, which, in part, extended the termination date to August 31, 2025 (the “Second Amendment”, collectively with the Original License Agreement, the “License Agreement”); and
WHEREAS, the Municipality and the Princeton Ballet desire to enter into an amended license agreement to extend the termination date of the License Agreement and further set forth the rights and obligations of the Parties with respect to the grant of the license to use the Property (the “Amended License Agreement”); and
WHEREAS, the Mayor and Council of the Municipality of Princeton desire to authorize the execution of the Amended License Agreement in substantially the form attached hereto as Exhibit A.
NOW, THEREFORE, BE IT RESOLVED by the Council of Princeton, County of Mercer, State of New Jersey, as follows:
1. The Amended License Agreement, in substantially the form attached hereto as Exhibit A, is approved. The Mayor is hereby authorized to execute, on the Municipality’s behalf, Amended License Agreement in substantially such form, with such editorial changes as the Mayor shall determine, in consultation with counsel, such determination to be conclusively evidenced by his execution of the Amended License Agreement. The Municipal Clerk is hereby authorized and directed to attest to the execution of the Amended License Agreement and to affix the corporate seal of the Municipality to the Amended License Agreement.
2. This Resolution shall take effect immediately.
3. The foregoing recitals are hereby incorporated by reference as if fully repeated herein.
4. A copy of this Resolution and the executed agreement shall be placed on file in the Clerk’s Office and shall be available for public inspection.