Or perhaps just follow the "leader" over the next bridge. So, lets take a stab at the lease [see link at bottom for lease] ... based on a general reading (not detailed, particularly in terms of understanding what specific portions of the property are considered "licensed" and "access"), a few thoughts...
- Section 1.3: need to better understand what is contained in the referenced "Preservation Covenants", particularly as they relate to "private functions" (is there any limit on the number of people per private function and the type of activity that can be carried on at such a function?)
- Section 2.1: last sentence should be deleted
- Section 2.2: what issues currently exist with respect to installing a compliant bridge? Cost? Limitations on types of vehicles that can pass?
- Section 4.2: coverage limits are far too low, given the number of people who could be on the premises at one time and PNF lack of any assets
- Section 4.5: Hold harmless clause is rendered close to worthless based on lack of PNF assets
- Section 4.8: Problematic, especially given questions re: "private functions"
- Section 5.1: Needs to clearly state Owner will not provide snow removal
- Section 6.1: PNF's financial condition probably prevents it from complying
Overall, I don't think that PNF has the financial resources required to maintain the property, as required in this lease, and maintain the insurance coverage needed.
An attorney familiar with public/private leases should review and comment. So where is Mr. Keating option? Furthermore what is the next step for Board of Finance?
FOR COPIES OF PNF 990-EZ FILES CLICK HERE > PFN 990-EZ 2007 IRS FILING
FOR A COPY OF PNF 990-EZ IRS FILING CLICK HERE >PNF 990-EZ 2006 FILING
FOR A COPY OF THE PNF LEASE CLICK HERE > Preserve New Fairfield Lease
