5566 RESOLUTION NO 5,566
A RESOLUTION AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE A LEASE AGREEMENT BETWEEN
THE CITY OF LITTLE ROCK AND WELDERS SUPPLY
COMPANY; 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 execute, for and on behalf of the City of Little
Rock, a Lease Agreement between the City of Little Rock, Arkansas
and Welders Supply Company, for the following described property
situated in Little Rock, Pulaski County, Arkansas, to-wit:
Lots 9 and 10 , Block "B" of Fletcher-Clark
Addition to the City of Little Rock.
SECTION 2 . The Lease Agreement authorized in Section 1
hereof shall be in form and substance as set out on Exhibit "A"
attached hereto and made a part of this Resolution as though
set out herein word for word.
SECTION 3. This Resolution shall be in full force and
effect from and after its adoption.
ADOPTED: July 20, 1976
ATTEST: APPROVED: ----)-S1--/•U4=1.
City Cler Assistant Mayor
4
I
LEASE AGREEMENT
This Agreement made and entered into this 27th day of
July , 1976 by and between the City of Little Rock, Arkansas,
acting through its Mayor and City Clerk, duly authorized by Reso-
lution 5,566 adopted by the Board of Directors on July 20, 1976,
hereafter called Lessor, and Welders Supply Company, an Arkansas
corporation, hereafter called, Lessee;
W I T N E S S E T H:
The parties hereto for and in consideration of the rents,
covenants and agreements herein contained do hereby agree as
follows:
I
Lessor does hereby rent, lease and demise unto the said
Lessee the following described real property situated in the
City of Little Rock, County of Pulaski, Arkansas, to-wit:
Lots 9 and 10, Block "B" of Fletcher-Clark
Addition to the City of Little Rock, Arkansas .
To have and to hold unto the said Lessee together with all the
rights, easements and appurtenances to the same belonging for
and during a term of five years beginning on the 5th day
of August , 1976 and ending on the 4th day of August
1981, subject to the terms, conditions and provisions herein
contained.
II
Lessee shall pay as rental for the premises herein leased
the sum of Twelve hundred ($1,200. 00) dollars annually, payable
in monthly installments in advance of $100 .00 each commencing
on the 1st day of August, 1976. It is mutually agreed that all
improvements made to and all buildings or equipment placed upon
the said leased premises shall remain the sole property of Lessee
and said Lessee shall have the right to remove all of such upon
the expiration of this Lease.
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III
Lessee shall have an option to renew this lease for an
additional term of five years upon the same terms and conditions
as herein set forth, however, such option to renew must be exer-
cised in writing by Lessee not later than six months prior to
the expiration of the original term.
IV
The Lessee shall have the option to cancel this lease at
any time upon ninety (90) days written notice of such intent
given to Lessor. Further, Lessee shall have the right of
immediate cancellation of this lease in the event the premises
herein leased cave into the Arkansas River or are in the sole
judgment of the Lessee rendered unfit for use by the action of
the said Arkansas River.
IN WITNESS WHEREOF, the parties hereto have set their hands
and seals in duplicate originals on the date above set forth.
CITY OF LITTLE ROCK, ARKANSAS
LESSOR
BY (; QA.illkIDIsild01....41 ,
Assistant Mayor
AT
;int.) °)eril)
Cit rk
WELDERS SUPPLY COMPANY
LESSEE
BY
President
ATTEST:
Secretary-Treasurer
This instrument prepared and approved by:
Joseph C. Kemp
1021 First Pyramid Life Building
Little Rock, Arkansas
City Attorney
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•
ACKNOWLEDGMENT
STATE OF ARKANSAS)
) ss
COUNTY OF PULASKI )
On this day personally appeared before the undersigned, a Notary Public
in and for the County and State aforesaid, duly qualified and acting,
Perlesta Hollingsworth and Jane Czech, to me well known to be the Assistant
Mayor and City Clerk, respectively, of the City of Little Rock, Arkansas,
and stated that they had executed the foregoing Lease Agreement pursuant to
provisions of Resolution No. 5,566 adopted by the Board of Directors July 20,
1976, for and on behalf of the City of Little Rock for the consideration
and purposes therein mentioned and set forth.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 27th
day of July, 1976.
Notary Public
My commission expires:
ACKNOWLEDGMENT
STATE OF ARKANSAS)
) ss
COUNTY OF PULASKI)
On this day personally appeared before the undersigned, a Notary Public in
and for the County and State aforesaid, duly qualified and acting, Stephen E.
Harrison and Bill Layton, Jr. , who acknowledged themselves to be the President
and Secretary-Treasurer of Welders Supply Company, an Arkansas Corporation,
and that they, as such President and Secretary-Treasurer, being authorized to
do so, executed the foregoing Lease Agreement for the purposes therein contained
by signing the name of the corporation by themselves as President and Secretary-
Treasurer.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this day
of , 1976.
Notary Public
My commission expires: