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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 ...
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