OPTION AGREEMENT
(City of Nashua / Harbor Homes, Inc. — Parking Lease)
THIS OPTION AGREEMENT is made this _ day of , 2021, by
and between the City of Nashua, a municipal corporation with offices at 229 Main Street, Nashua,
New Hampshire 03060 (the “City”), and Harbor Homes, Inc., a New Hampshire voluntary (non-
profit) corporation with offices at 77 Northeastern Boulevard, Nashua, New Hampshire 03062
(“Harbor Homes”).
Recitals
WHEREAS, the City owns an open air parking lot known as the Factory Street Lot situated
between High Street and Factory Street in Nashua, New Hampshire, to the west of the High Street
Garage and the east of the property at 45 High Street owned by Harbor Homes (“45 High Street’);
and
WHEREAS, Harbor Homes operates the Harbor Clinic at 45 High Street which provides
medical and other services to low income patients and others: and
WHEREAS, the City is also the owner of an open air parking fot located between High
Street and School Street in said Nashua, known as the School Street Lot: and
WHEREAS, the City has finalized or anticipates finalizing a so-called Master
Development Agreement with Lansing Melbourne Group, LLC (or its related entity) for the
development of apartment units in the School Street Lot (the “Apartment Project”); and
WHEREAS, in light of the prospective development of the Apartment Project and the
parties desire to ensure adequate, adjacent parking for the Harbor Clinic, the City has agreed to
provide Harbor Homes with an option to enter into a lease of 15 spaces located in the Factory
Street Lot adjacent to the easterly side of 45 High Street (the “Parking Spaces’).
Agreement
NOW, THEREFORE, in and for the mutual covenants set forth herein and other good and
valuable consideration paid, the City and Harbor Homes agree as follows:
i. Option to Lease Parking Spaces. The City hereby grants Harbor Homes the
exclusive option to lease the Parking Spaces (the “Option”). The Option does not include the
handicap spaces in the Factory Street Lot.
2, Term of Option. Harbor Homes may exercise the Option at any time during a one
(1) year period (the “Option Term”). The Option Term begins on the first day that the School
Street Lot is no longer open for public use (e.g. being fenced 1n anticipation of the commencement
of development of the Apartment Project) and ends one (1) year thereafter.
3. Exercise of Option. During the Option Term, Harbor Homes may exercise the
Option, at any time, by providing written notice of such exercise to the City (the “Notice of
Exercise’) by forwarding the Notice of Exercise to the following address:
