THAT the Council of the Township of North Huron hereby approves allocating $5,000 of the project funds to a Township of North Huron Reserve Account, for the purposes of acting as a “security deposit” for the lease agreement between the Township and 14/19 Inc. for Blyth Memorial Community Hall;
AND FURTHER THAT at the end of the lease, the “security deposit” funds will be either used for the same purpose in a renewal lease agreement, or the funds will be re-allocated to Blyth Memorial Community Hall capital expenses reserve account. As per the lease agreement, the Township of North Huron Council may draw upon these funds to fulfil the purposes of the security deposit in the lease agreement.