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RESOLUTION 11,359
A RESOLUTION APPROVING THE TERMS AND PROVISIONS OF THAT
CERTAIN FIRST AMENDMENT TO CONSTRUCT AND LEASE, PARKING
AND CONCESSION AGREEMENT (THE, "FIRST AMENDMENT ") BY AND
BETWEEN THE CITY OF LITTLE ROCK, ARKANSAS (THE, "CITY ") AND
CAPITOL CITY HOTEL LIMITED PARTNERSHIP, AN ILLINOIS LIMITED
PARTNERSHIP ( "CCH "); AUTHORIZE THE MAYOR AND CITY CLERK TO
EXECUTE AND PERFORM THE SAME AND TO TAKE ANY AND ALL STEPS
AND ACTION NECESSARY OR DESIRABLE TO FULLY EFFECTUATE THE
CONSUMMATION OF THE TRANSACTION CONTEMPLATED BY THE
AFORESAID DOCUMENTS, DECLARING AN EMERGENCY AND
PRESCRIBING OTHER MATTERS PERTAINING THERETO.
WHEREAS, the City and Capitol City Hotel Limited Partnership, an Illinois
limited partnership, made and entered into that certain Construct and Lease, Parking and
Concession Agreement, dated November 2, 1994 (hereinafter referred to as the "Lease
Agreement'); and,
WHEREAS, the Lease Agreement requires that the written standards for
operation of the Demised Premises as a Doubletree Hotel (the "Standards ") and the
Franchise Agreement authorizing the Lessee to operate the Demised Premises as a
Doubletree Hotel (the "Doubletree Franchise ") be incorporated into the Lease
Agreement; and
WHEREAS, CCH and the City have reached an agreement on the terms and
provisions of that certain First Amendment to Construct and Lease, Parking and
Concession Agreement (the "First amendment') whereby the Standards and Doubletree
Franchise are incorporated into and made a part of the Lease Agreement; and,
WHEREAS, a true and correct copy of the First Amendment is attached hereto;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS.
SECTION 1. That the terms and provisions of the First Amendment to
Construct and Lease, Parking and Concession Agreement be and the same is hereby fully
approved and the Mayor and City Clerk be and hereby are authorized, empowered and
directed to make, execute, deliver and perform the First Amendment to Construct and
Lease, Parking and Concession Agreement.
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Resolution
SECTION 2. In furtherance of the foregoing the Mayor and City Clerk be and
hereby are authorized, empowered and directed to make and execute any documentation
and do, take and perform any and all other steps, actions or things deemed necessary or
desirable to fully effectuate the transactions contemplated by the First Amendment to
Construct and Lease, Parking and Concession Agreement.
SECTION 3. This Resolution shall be and is in full force and effect from
and after its adoption.
ADOPTED: August 27, 2002
ATTESTED BY:
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APPROVED BY: