2862 •
RESOLUTION NO. 2,862
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO ENTER
INTO AND EXECUTE ON BEHALF OF THE CITY OF LITTLE ROCK A LEASE
AGREEMENT WITH THE PEOPLES SERVICE STATIONS, INC. , AND FOR
OTHER PURPOSES.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK,
ARKANSAS:
SECTION 1. The Mayor and City Clerk are hereby authorized and
directed to enter into and execute on behalf of the City of Little Rock
a certain Lease Agreement with the Peoples Service Stations, Inc.,
covering the lease of certain lands owned by the City of Little Rock
and used as a part of the Oakland Cemetery properties.
SECTION 2. The Lease Agreement authorized in Section 1 hereof
shall be in form and substance as follows:
LEASE AGREEMENT
THIS INSTRUMENT made and entered into as of this
day of 1962, by and between the CITY OF LITTLE ROCK,
a municipal corporation organized and existing under the laws of the
State of Arkansas , acting by and through its Mayor and City Clerk,
and also acting by and through the Oakland Cemetery Commissioners as
a division of the government of said City, hereinafter referred to as
the "LESSOR" , and PEOPLES SERVICE STATIONS , INC . (successor to Peoples
Oil Realty Company ), a corporation duly created , organized and exist-
ing under and by virtue of the laws of the State of Delaware with its
principal office at 3901 Hillsboro Road, Nashville, Tennessee , and
being further domesticated and authorized to transact business in the
State of Arkansas , hereinafter referred to as the "LESSEE"
W I T N E S S E T H :
I
LESSOR hereby leases to LESSEE a certain tract of land located
in the City of Little Rock, Arkansas , more particularly described as
follows :
A triangular shaped parcel at the northwest
corner of Barber Avenue and East Roosevelt
Road, facing 250 feet on Roosevelt Road and
200 feet on Barber Avenue, with the boundaries
of the two named streets forming two sides of
the triangular tract , and with the third side of
the triangle and rear line of the leased property
being along a line connecting two points ; point 1
being a point in the northerly margin of East
Roosevelt Road 250 feet westerly from the in-
tersection of East Roosevelt Road and Barber
Avenue, and point 2, which is the other end of
the connecting line, being a point in the westerly
margin of said Barber Avenue 200 feet north
from the intersection of Roosevelt Road and
Barber Avenue, all according to a sketch dated
attached hereto and
made a part hereof.
- 1
The leased premises are the same as those
which have heretofore been occupied by a
Peoples Service Station in accordance with
lease previously made on the 14th day of
May, 1953, between the City of Little Rock
and Peoples Oil Realty Company,
II
The term of this lease is for a period of ten (10 ) years,
commencing on the 14th day of May, 1963, and ending on the 14th
day of May, 1973,
III
The LESSEE shall pay to LESSOR a rental of Three Hundred
Twenty-Five ($325.00 ) Dollars per month, which rental shall be payable
monthly as to each particular month on or before the tenth (10th ) day
of each month , and if any payment of rent for any particular month
remains unpaid for thirty (30) days after due date, LESSOR shall have
the right to terminate this lease , regain possession of the property,
and hold LESSEE liable for unpaid rent due to the time of said ter-
mination.
LESSEE further agrees that in consideration of the execution
of this lease which amounts to an extension of its old lease which
expires on May 14, 1963, that it will begin to pay the increased
rental of Three Hundred Twenty-Five ($ 325,00 ) Dollars per month
beginning with the month of July , 1962,
IV
At the termination of the lease , all permanent improvements to
the real estate shall remain on the property and become part of the
freehold belonging to LESSOR , but LESSEE reserves the right to remove,
at such time as it may vacate the premises upon termination or for any
- 2 -
other reason, all trade fixtures , including pumps , tanks , and other
removable items of personal property.
V
LESSEE agrees to keep and maintain the premises at all times
during the lease in good condition and repair, and at the termination of
the lease will deliver the building and other improvements to the free-
hold in as good condition as when erected and installed, ordinary wear
and tear, depreciation and obsolescence excepted .
LESSOR covenants that it has a good and valid title to the prem-
ises herein leased, and has a full and complete legal right to lease the
same, and that all necessary legal steps required by any statutes or
ordinances applicable have been complied with to make this lease fully
authorized and legal and binding upon the parties .
VI
This lease is subject to ratification by the Board of Directors
of the City of Little Rock , and will become fully binding upon the
LESSOR and the LESSEE when executed by the parties , ratified by the
Board of Directors of the City of Little Rock , and LESSEE has been
furnished with a copy of the resolution or ordinance passed, duly
certified by the City Clerk or Secretary of said Board of Directors,
indicating ratification by the Board of Directors of this lease.
VII
r
The undersigned City Attorney for the City of Little Rock,
Arkansas , has signed below in approving this lease for the purpose of
certifying that it is in all respects authorized, that all legal steps
required pursuant to its execution have been taken , and that upon
- 3 ..
4
J �}
ratification by the Board of Directors of the City of Little Rock , it
will be fully binding upon LESSOR.
VIII
If LESSOR shall fail promptly to perform any of the agreements
upon his part herein contained , the LESSEE may , at his option , declare
this lease to be at an end.
If LESSEE shall fail or refuse to pay the rental aforesaid at the
times and in the manner set out, or to do or perform any other of the
covenants on his part herein contained , or shall violate in any partic-
ular any of the conditions hereof, or shall become insolvent , or become
a bankrupt (either voluntary or involuntary, ) or shall make an assign-
ment for the benefit of creditors , or if a receiver be appointed for him
or to take charge of and manage any of his affairs, then and in any or
either of such events the LESSOR may, at his option , declare this lease
terminated, and shall have the right to enter upon and take possession
of said property and premises , either with or without notice, and
evict and expell the LESSEE and any or all of his property, belongings
and effects therefrom without process of law and without being guilty of
any manner of trespass , either at law or in equity and without prejudice
to any remedies or rights which he may have for the collection of any
delinquent rents , possessions , damages , or otherwise. And no delay
in the exercise of the option aforesaid by the LESSOR shall be deemed
a waiver of his right to exercise the same at a later time. It is
provided, however, that before any forfeiture on the part of either the
LESSOR or the LESSEE shall occur, the party claiming the default
shall give ten (10) days ' written notice to the other party and if the
alleged default is corrected within the ten -day period the default will
be deemed cured and the foregoing provisions of this paragraph VIII
shall not apply.
- 4
IX
This lease is further approved by the Oakland Cemetery Commis-
ioners , a division of the City Government of the City of Little Rock
as evidenced by the signature of the Secretary of the Oakland Cemetery
Commissioners who has executed this lease as below set forth.
IN WITNESS WHEREOF , the parties have executed this instrument
as of the day and date first above written.
CITY OF LITTLE ROCK , ARKANSAS
APPROVED : By _
Werner C. Knoop, Mayor
I _r City Attorney _
Pauline G. Beeson , City Clerk
LESSOR
RECOMMENDED BY :
OAKLAND CEMETERY
COMMISSIONERS
By
Roy Beard, Secretary
PEOPLES SERVICE STATIONS , INC.
ATTEST : By
W. F . Davidson , President
LESSEE
Lena S . Crunk , Assistant
Secretary
5 —
0
z
-i
C\ r
D -,
r
m rn m
o
0 o
z -a
o
m r 70
rn
< 0
N r
N U
pin rn
0 r
0
0
Irt
2QO,
v ,
•
•
SECTION 3, This resolution shall be in full force and effect
from and after its adoption.
ADOPTED: June 18, 1962
ATTEST: ?J 16 122ce r< APPROVED: _.`/ /.. //. _ _ 4
Asst. Ma or
City Clerk Y