2750 RESOLUTION NO. 2,750
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK
TO ENTER INTO AND EXECUTE A TEASE AGREEMENT WITH
THE UNION NATIONAL BANK OF LITTLE ROCK, ARKANSAS
FOR THE LEASE OF CERTAIN CITY PROPERTY; AND FOR
OTHER PURPOSES.
WHEREAS, the City of Little Rock, Arkansas, owns certain
property adjacent to Roosevelt Road near Confederate Boulevard
in the City of Little Rock, Arkansas, and desires to lease
and demise unto the Union National Bank of Little Rock,
Arkansas, said property as hereinafter described; and
WHEREAS, the Union National Bank agrees to lease and
demise said lands according to terms and conditions acceptable
to said City;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS :
SECTION 1. The Mayor and City Clerk of the City of Little
Rock, Arkansas, are hereby authorized and directed to execute
and enter into a lease agreement with the Union National Bank
of Little Rock, Arkansas, leasing certain property owned by
said City upon the terms and conditions acceptable to said
City, all as set forth in Section 2 hereof.
SECTION 2. The lease instrument referred to in Section 1
hereof is and shall be in form and substance as follows:
LEASE
THIS LEASE, Made and entered into this _day of , 1961
by and between the City of Little Rock, in the State of Arkansas, by
and through Werner C. Knoop, its Mayor, hereunto duly authorized, as
Lessor, and Union National Bank of Little Rook, in the State of
Arkansas, as Lessee,
WITNESSETH:
1. Lessor for the considerations, purposes, and covenants here-
inafter set out, does hereby let, lease and demise unto the Lessee for
• period of five years beginning on the day of ,1961,
the following described parcel of land situated in the County of
Pulaski, State of Arkansas, to wit:
That certain parcel of land which is bounded on the north by
Roosevelt Road, on the south by East 26th Street, on the east
by Welch Street, and on' the West by Barber Avenue, described
as beginning at a point which is at the southwest corner of
the SE* of Section 11, Township 1 North, Range 12 West, thence
east for a distance of 630 feet to a point of beginning; thence
north a distance of 35.5 feet, thence southeast a distance of
110 feet, thence north a distance of 10 feet, thence southeast
a distance of 190 feet, thence south for a distance of 112.75
feet, thence west a distance of 300 feet to the point of
beginning, containing approximately 12,500 square feet or
0.28 acres.
TO HAVE AND TO HOLD THE same unto the said Lessee for and during
the term aforesaid upon the terms and conditions hereinafter expressed.
2. Lessee agrees to pay, and Lessor agrees to accept, as rent
for said premises, the sum of $66.67 per month, payable monthly in
advance on the day of each and every month during the term here-
of, the first such payment being due the day of ,1961.
3. The parties understand and agree that the Lessee will use said
premises as a drive-in bankers tellers* window, and Lessee is hereby
granted the privilege of erecting on said premises a suitable building
for such use and purpose.
!a.. This Lease is accepted by Lessee on condition that the
property be rezoned under the applicable ordinances of the City of
Little Rock to permit the Lessee to erect and maintain a drive-in
tellers* window on said premises during the primary term of this Lease,
or any extension or renewal thereof; and Lessee agrees that if any
rental is paid under the terms hereof prior to such rezoning of said
property from • classification of we Residence to a classification of
"P" Commercial and Lessee' s rezoning application is denied, then such
advance rental, if any, shall be refunded in full.
5. Lessee is hereby granted options to renew this lease for two
additional terms of five (5) years each unless this Lease is terminated
under other provisions hereof; the rental for the first additional term
to be the sum of $100.00 per month and for the second additional term
the sum of $125.00 per month, payable monthly in advance.
6. The parties understand and agree that any time the property
covered by this Lease is needed for any public purpose, the City
reserves the right to terminate this Lease on six (6) months notice
to the Lessee.
7. In the event of nonpayment of rental for any period of sixty
(60) days during the term of this Lease, or any renewal thereof, this
Lease may be terminated on ten (10) days notice, if such delinquent rent
is not paid promptly on delivery of such notice. Any such notice of
delinquent rent shall be mailed to the Bank, to the attention of the
President or Executive Vice President of Lessee.
8. Upon termination of this Lease for any reason Lessee shall have
the right to remove any building or other improvements placed upon said
lands by Lessee during its occupancy of said premises hereunder.
9. Lessee agrees to make no use r of said property during its
occupancy hereunder that is contrary to any ordinance of the City of
Little Rook, and that it will not create or permit any public nuisance
to exist thereon, and that upon the termination of this Lease it will
promptly and peaceably deliver to said Lessor said premises.
IR WITNESS WHEREOF, This Lease has been executed by Werner C. Knoop,
as Mayor of the City of Little Rock, for and in behalf of said City, as
Lessor, and has been executed by H. C. Couch, Jr. , President of Union
National Bank of Little Rock, as Lessee, and their respective signatures
hereto have been attested by Pauline Beeson, as City Clerk of Lessor,
and by Z. T. Wood, as Cashier of Lessee, on this the __day of
, 1961.
CITY OP LITTLE ROCK
By,
Mayor
ATTEST:
City Clerk
UNION NATIONAL BANK OF LITTLE ROCK
By,
Presidenf
ATTEST:
Cashier
STATE OF ARKANSAS)
33 ACKNOWLEDGMENT
COUNTY OP PULASKI)
On this day of , 1961, before me, a Notary
Public, duly Wairisioned, qualified and acting, within and for the
said County and State, appeared in person the within named Werner
C. Knoop and Pauline Beeson, to me personally well known, who
stated that they were the Mayor and the City Clerk, respectively,
of the City of Little Rock, and were duly authorised in their
respective capacities to execute the foregoing instrument for
and in the name and behalf of said City, and further stated and
acknowledged that they had so signed, executed and delivered said
foregoing instrument for the consideration, uses and purposes therein
mentioned and set forth.
IN T 'STIMO !' WHEREOF, I have hereunto set my hand and official
seal this day of , 1961.
Notary Public
My commission expires
STATE OP ARKANSAS)
3S ACKNOWLEDGMENT
COUNTY OF PULASKI)
On this day of , 1961, before me, a
Notary Public, duly commissioned, qualified and acting, within and
for the said County and State, appeared in person the within named
H. C. Couch, Jr. and Z. T. Wood, to me personally well known, who
stated that they were the President and Cashier of the Union National
Bank of Little Rock, a national banking corporation, and were duly
authorized in their respective capacities to execute the foregoing
instrument for and in the name and behalf of said corporation, and
further stated and acknowledged that they had so signed, executed
and delivered said foregoing instrument for the consideration, uses
and purposes therein mentioned and set forth.
IN TESTIMONY WHEREOF, I have hereunto set my hand and offiotel
seal this day of ,1961.
Notary Public
My commission expires
SECTION 3. This resolution shall be in full force
and effect from and after its adoption.
ADOPTED: October 16, 1961
ATTEST: APPROVED:
City Clerk Mayor