The Helena independent., 1891-10-10
THE NEW CLUB HOUSE.
A Member Of tho Club Critlcises the Lease
Advancement, /,

A Member OF tho Club Critloises the Lease
| Arrangement St,
To TIE lNpErENDENr: The Montana
club, social club composed OF most Of the
leading business men Of Helena, has taken
and accepted = ninety -nine-year lease on =
lot of land 115 fest on Gulch street and
seventy-five feet on Sixth avenue at a
rental of 81, 600 per year, and pay all the
taxes and assessments aRainst said prop
| erty, and pledge and bind themselves to
erect building and improvements on the
same at value of not less than $4,000.
The value of the real estate ls probably
$25, 900, but at the rental of g. GOO per an
mum net, making the value say $4,000 to
making net value Of S67. 900, with no priv
ilege of purchasing said property.
All Improvements aud insurance must be
made under the supervision and control OF
the lessor. and privilege of assignment or
laasehold, subject to the control Of the
lessor.
BY careful review of figures, our busi-
ness mon. members of the club will see that
the club is paying 20 per cent. per annum for
use, of the cash value of the real estate,
and subject to forfeiture and termination,
and determination of the lease at the will
and caprice of tho lessons.
Among other peculiarities of this lease to
the foregoing may be mentioned, briefly.
the following:
(a) The club pays its rent in gold, of the
present standard value, and is subject TO
the fluctuations and mutations of currency
in this respect, but when the owner of the
the building he is allowed to pay for it in
any currency he may choose.
(b) Again the club 10 obliged to pay all
taxes and assessments imposed, subject to
forfeiture for failure to- do so when 1t
should be limited to taxes. assessments,
etc., lawfully imposed.
(c) 1t postpones all mortgages or other
membranes given to secure the cost of
constructing the building, accruing to the
lessor, even if the rents become due years
after the execution of the mortgage up to
any time before actual sale.
(d) The negotiabllity of the clubs inter- |
est in the premises is materially hamrered |
by restricted clauses.
(e) The lessor can refuse to release the |
club from liability on the covenants in this |
lease if the arbitration board determine |
that the assignee of the club IS unaccepta-
bic, the club would remain liable for the
term of ninety nine years under tho liquor |
clause, immoral use clause, and insurance
clause, even though the property were sold
ten times over.
ff) The club could be. at the will OF the |
lessor put In the position of forcible entry |
man for failing to observe any, even of the
in the lease, and this, even, without the
customary notice which the law provides. |
(g) If there were law suit over the in
surance money, so it could not be collected |
in time to rebuild within the two years,
even though it were all collected after
wards. and the clubs 66 23 per cent. for
building rs soon as obtained, the lessor
could put the 80 1-3 in his pocket as liqui-
dated damages. t
(h) The warranty of title is emasculated
BY the last clause of the lease. NV
Why was not an inst ument so important
and far reaching in its provisionssubmitted
md consequences explained at a full meet
ng of the club?
The club must have had no attorney, or
men to attend to their interest,
mt all the legal advice and skilled ability
VAS for the interest of the lessor or the
'yndicate be represented. Was it careless
less, indifference or negligence that there
we're no protecting clauses inserted on be-
1alf of the club?l Or WAS it inability to
comprehend the meaning of the lease con-
,ract SO written2
Is the lease legal. and is it Just, and is it
binding, and was it executed in the interest
If the club and by the action of the club or
1t the caprice and whim of some of its man
'gersS In the interest of the party desiring
20 dispose of the property? Will the mena-
oers of the club submit to the conditions,
'tipulations and restrictions? Will the
mortgage bond holders of the club put up
he money for the building with such poor
possibility of receiving any compensation,
or return for the money advanced?
Is land so scarce in Helena that to obtain
my, that it is necessary that we should re-
ort to the old feudal system of obtaining a
ease with no privilege OF purchase and
vhen the lord of the manor shall dictate
IL the right and privileges of the parties
Wishing to obtain property whereon to
'uild.
1t is very desirable plan upon which to
ispose of real estate in Helena, but doubt
ul as to the sanity or such reasonable dis
retion of the parties purchasing, that he
7ould be entitled to a committee or q guar
ian to supervise his business transactions,
La the club success or failure under
hese conditions, and if failure in the
ear future, would it not be desirable or
est to ascertain the fact now and recon
ider, and if privilege of purchase cannot
70 had, pay the damages and revoke the
roceedings, and commence again on a rea-
enable, common sense plan?
Real estate suitable for such purpose is
ot so scarce, but that it can be had at fair
rice and obtain title in fee simple. This
, matter of Importance and it will be a
reditable building to the city, if properly
TENDED to. A MEMBER OF THE C1uB.