3531 RESOLUTION NO. 3,531
RESOLUTION AUTHORIZING A LEASE TO THE
ARKANSAS TRAVELERS BASEBALL CLUB , INC.
OF A PARCEL OF REAL PROPERTY SITUATED
IN WAR MEMORIAL PARK, TO BE DEVOTED TO
EXPOSITIONS OF ALL KINDS, INCLUDING
ATHLETIC CONTESTS; AND FOR OTHER PURPOSES.
BE IT RESOLVED BY THE BOARD OF DIRECTORS:
SEC. 1. The Mayor and the City Clerk are
hereby authorized for and on behalf of the City of
Little Rock to enter into a Lease Agreement with
the Arkansas Travelers Baseball Club, Inc. , leas-
ing a part of the property comprising War Memorial
Park for the purpose of holding expositions of all
kinds, including athletic contests. Said lease
shall be for a period of twenty years, From March 1,
1966, to March 1, 1986, and shall be in words and
form as follows :
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LEASE AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, the City of Little Rock, Arkansas, owns
• certain lands inside the city limits devoted to public park
purposes, and known as War Memorial Park; and,
WHEREAS, a portion of said lands has for many years
been devoted to expositions of all kinds, including athletic
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events; and,
WHEREAS, it is to the great interest of the City of
IRock and all its citizens to maintain a place for the
holding of baseball games, the following agreement is hereby
entered into:
This agreement, entered into this day of March,
1966, by and between the City of Little Rock, Lessor, acting
through the Mayor and City Clerk pursuant to authority of
Resolution No. . and the Arkansas Travelers Baseball
Club, Inc. , Lessee, by its President and Secretary being duly
authorized by resolution of its Board of Directors, witnesseth:
I.
That in consideration of the sum of One Dollar ($1.00)
in hand paid, receipt of which is hereby acknowledged, and the
covenants hereinafter contained on the part of the Lessee to
be kept and performed, the Lessor does hereby grant, demise and
lease unto the Lessee the following described property situated
in Little Rock, Pulaski County, Arkansas, to wit:
Beginning at the Southeast corner of
War Memorial Park (formerly Fair Park)
Ias originally constituted and described,
which said park is situated in the West-
- . ern portion of the City of Little Rock,
for the beginning point ; thence West 225
' feet; thence North 550 feet; thence East
I
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225 feet; thence South 550 feet
to the point of beginning, save
and except such of said tract as
is now situated in the 8th Street
or East-West Expressway right-of-
way.
To have and to hold the said land and premises demised
unto said Lessee and its assigns from the 1st day of March,
1966, until the 1st day of March, 1986.
Lessee is hereby given the right and privilege of
erecting seats, bleachers, grandstands and such other improve-
ments as will be helpful to an athletic field.
It is mutually agreed that the Lessee herein contem-
plates and agrees to operate a professional baseball club in
connection with and in utilization of this property, and it is
understood that if the Lessee is unsuccessful in maintaining
baseball in Little Rock, Arkansas, the only remedies of Lessor
herein shall be the forfeiture of this lease.
Lessee covenants and agrees that any improvements or
any that may be placed upon said premises by the Lessee or its
assigns shall be and/or become part of the real estate herein
leased, and belong to and become property of the City of Lit-
tle Rock, Arkansas.
It is mutually understood that the Lessee shall have
exclusive right to use and occupy the leased premises together
with any improvements placed thereon during the full term of
this lease, and at the expiration thereof, the premises will
be delivered to Lessor in a good state of preservation, and
fr
the improvements in a good state of repair, ordinary wear and
tear being excepted.
The Lessee covenants and agrees that it and/or its
assigns will maintain the said leased premises as a suitable
Ar
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park for the purpose of holding athletic contests throughout
the term of this lease, and that the same will be available
at all times for the holding of such athletic contests as Les-
see wishes to permit.
It is mutually agreed that the Lessee shall have the
exclusive control of leasing the said premises for the purpose
of holding athletic contests and expositions of all kinds, and
the right to determine and fix charges to be made therefor from
time to time.
It is mutually agreed that the covenants herein set
forth to be done and performed by the Lessee and/or its assigns
are conditions of this lease, and if the same are not done and
performed within the time and manner set forth, this lease may
be declared void by the Lessor, in which event the Lessee or
its assigns agrees to immediately surrender possession of said
premises to Lessor.
IN WITNESS WHEREOF, the parties have hereunto set
their hands and seals this day of March, 1966.
CITY OF LITTLE ROCK, ARKANSAS
Lessor
By
Mayor
ATTEST:
City Clerk
ARKANSAS TRAVELERS BASEBALL
CLUB, INC. , Lessee
By
Max Moses, President
ATTEST:
Allan Berry, Secretary
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SEC. 2. This resolution shall be in full
force and effect from and after its adoption.
ADOPTED: March 7, 1966
ATTEST`%a Jo o APPROVED:
City Clerk Mayo