3905 RESOLUTION NO. 3, 9°5
A RESOLUTION AUTHORIZING THE MAYOR AND
CITY CLERK TO EXECUTE FOR AND ON BEHALF
OF THE CITY OF LITTLE ROCK A LEASE AGREE-
MENT WITH THE ARKANSAS REVENUE BUILDING
COMMISSION FOR A TERM OF ONE YEAR FOR
CERTAIN REAL PROPERTY SITUATED IN THE
CITY OF LITTLE ROCK TO BE USED AS A MAT-
ERIAL YARD; AND FOR OTHER PURPOSES.
WHEREAS, the City of Little Rock has sold to the State
of Arkansas its property situated in the City of Little Rock and
which has heretofore been devoted to use as the City' s material
yard; and
WHEREAS , the State has agreed to lease said lands back
to the City of Little Rock for a period of one (1) year at a
consideration of One and NO/100 Dollars ($1.00) per year thus
giving the City additional time within which to find a site for
relocating said material yard; and
WHEREAS , it is the desire of the Board of Directors to
enter into said lease agreement.
NOW, THEREFORE, 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 execute a lease for and on behalf of the City of
Little Rock, as Lessee, with the Arkansas Revenue Building Comm-
ission, as Lessor, for a period of one (1) year at an annual rental
of One and NO/100 Dollars ($1.00) to the following described real
property to be used as a material yard:
Lots 1 , 2, 3, 4, 9, 10, 11 and 12, Block 23, and
Lots 7, 8 and all that part of Lot 9 lying south
of the right-of-way of Chicago, Rock Island and
Pacific Railway, all in Block 26, all in Capitol
Hill Extension Addition to the City of Little Rock.
Said lease agreement shall be in form and substance
as follows :
L E A S E
This agreement entered into by and between the Arkansas
Revenue Department Building Commission, hereinafter called LESSOR,
and the City of Little Rock, Arkansas , hereinafter called LESSEE.
WITNESSETH :
LESSOR, having determined that the space (or property)
is not immediately needed for the proper housing of any agency of
the State of Arkansas which needs space, hereby leases to LESSEE
the following described premises in the City of Little Rock, County
of Pulaski, State of Arkansas , to-wit:
Lots 1, 2 , 3, 4, 9, 10, 11 and 12, Block 23, and
Lots 7, 8, and all that part of Lot 9 lying south
of the right-of-way of Chicago, Rock Island and
Pacific Railway, all in Block 26, all in Capitol
Hill Extension Addition to the City of Little Rock.
The term of this Lease shall be for a period of one year,
commencing on , or until the LESSEE
relocates on other property its Material Yard which is presently
maintained on the leased permises , whichever period is shorter, it
being understood and agreed that in no event shall this Lease continue
for a period of more than one year.
The consideration for this Lease shall be the sum of One
Dollar ($1.00) and the agreement by LESSEE to sell the leased premises
to LESSOR, which sale has been consummated prior to this date.
The parties further agree as follows :
(1) LESSEE shall have no right to sublet the premises,
assign the Lease or any portion thereof.
(2) At the expiration or termination of this Lease,
LESSEE shall have the right to remove any and all of its property
from the premises.
(3) LESSOR shall have no obligation or responsibility
to maintain or repair the premises in any manner. Any repairs,
alterations , improvements or maintenance needed or done by LESSEE
shall be at the sole expense of LESSEE.
(4) LESSEE assumes all risk of and liability for damages
to persons or property arising during the term of this Lease from
the present or future condition of the leased premises , both latent
and manifest, and agrees to save LESSOR harmless therefrom. It is
further understood and agreed that LESSOR carries no insurance of
any type on the leased premises.
(5) LESSEE shall pay all utility bills incurred on the
leased premises.
(6) LESSOR or its agents may at any time enter the leased
premises for inspection purposes or for any other purpose in connection
with planning of the leased premises as a part of the larger area in
which it is contained as proposed expansion of the State Capitol
Grounds.
IN WITNESS WHEREOF, the parties have executed this Lease
on the day of , 196_.
LESSOR: ARKANSAS REVENUE DEPARTMENT
BUILDING CC 4MISSION
By
CHAT
ATEE S
111 •
SE( ' ' ARY
LESSEE: CITY OF LITTLE ROCK, ARKANSAS
MAYOR
4
ATTEST:
CITY CLERK
-3-
SECTION 2. This Resolution shall be in full force and
effect from and after its adoption.
ADOPTED: December 18 , 1967
ATTEST: APPROVED: /
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City Clerk Mayor