6360 s
RESOLUTION NO 6 ,360
A RESOLUTION AUTHORIZING A FIRST AMENDMENT TO
LEASE AND AGREEMENT BETWEEN THE CITY OF LITTLE
ROCK, ARKANSAS, AS LESSOR, AND CAMELOT INN-
LITTLE ROCK, INC. , AS LESSEE; AND FOR OTHER
PURPOSES
WHEREAS, the City of Little Rock, Arkansas, as Lessor, and Camelot Inn-
Little Rock, Inc. , as Lessee, and based on the recommendations of the Little
Rock Advertising and Promotion Commission, find it advantageous to all parties
to amend the original Lease Agreement between the parties dated February 17,
1971 pertaining to auditorium facilities East of and adjacent to the Robinson
Auditorium.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS.
SECTION 1. The Mayor and City Clerk, acting for and on behalf of the City
of Little Rock, Arkansas, are hereby authorized to execute that certain First
Amendment to Lease and Agreement between the City of Little Rock, as Lessor, and
Camelot Inn-Little Rock, Inc. , as Lessee, in form and substance as set forth
on Exhibit "A" attached hereto and made a part hereof the same as though set
out herein word for word.
SECTION 2, This Resolution shall be in full force and effect from and
after its adoption,
ADOPTED: June 17 , 1980
ATTEST; APPROVED; ��
City Cler Mayor
FIRST AMENDMENT TO LEASE AND AGREEMENT
BETWEEN
THE CITY OF LITTLE ROCK, ARKANSAS, AS LESSOR
AND
CAMELOT INN-LITTLE ROCK, INC. , AS LESSEE
WHEREAS, under date of February 17, 1971, the City of Little Rock, Arkansas,
as Lessor, and Camelot Inn-Little Rock, Inc. , as Lessee, entered into a Lease and
Agreement pertaining to and for hotel facilities adjacent to and East of Robinson
Auditorium in the City of Little Rock; and
WHEREAS, the Lessor and Lessee find it advantageous to both parties to amend
said Lease in certain particulars as hereinafter provided.
NOW THEREFORE, in consideration of the mutual benefits accruing to both Lessor
and Lessee under that certain Lease Agreement pertaining to hotel facilities East of
and adjacent to Robinson Auditorium dated February 17, 1971, the said parties hereby
amend said Agreement in the following particulars only:
I
The initial term of this Lease shall be extended to a date ending December 31,
2031, unless sooner terminated or extended as herein provided.
II
The Lease Agreement may be renewed for an additional twenty-five (25) years
after the expiration of the initial term hereof and for an additional twenty-five
(25) years after the expiration of the first renewal term provided for herein, pro-
vided the Lessee is not then in default upon the general terms and conditions as to
the Lease provisions provided for therein. Lessee must notify Lessor of its intent
to renew by written notice six (6) months prior to the end of the initial term or
any renewal term.
III
Lessee shall pay to Lessor as basic rent for the premises for each year during
the basic term as herein provided, and for each year UL any renewal term, the sum of
Twenty thousand two hundred ($20,200,00) dollars payable in semi-annual installments
of Ten thousand one hundred ($10,100.00) dollars in advance.
IV
The Lessee hereby wavies all its rights pertaining to additional convention
facilities as provided for in Paragraph XII of the Lease and Agreement between the
-2-
parties dated February 17, 1971.
V
The terms and conditions and covenants set forth in this First Amendment to
Lease and Agreement are subject to approval and acceptance by KIN-ARK Corporation,
Guarantor of the initial lease between the parties dated February 17, 1971. Exe-
cution by the Guarantor in the appropriate spaces below shall be deemed approval
and acceptance.
VI
Except to the extend and where this Amendment provides to the contrary, all
and each of the provisions of the original Lease of the parties dated February 17,
1971 shall remain in full force and effect and be binding upon the parties, their
successors and assigns.
IN WITNESS WHEREOF, this instrument is executed in duplicate originals this
day of , 1980.
CITY OF LITTLE ROCK, ARKANSAS - LESSOR
BY
ATTEST:
CAMELOT INN-LITTLE ROCK, INC. - LESSEE
BYE>��.f.
a
ATTEST e/c• ,-Aart %3 oa.�
2‹.-e e
f//C B
APPROVED AND ACCEPTED by the undersigned as of the /4///1 day of /4y
1980.
KIN-ARK CORPORATION GUARANTOR
BY crf.-C
Title /)/Ci WRMA•✓ sc /30.4
ATTEST:
Title S-B AL/
-3-
STATE OF ARKANSAS)
) ss ACKNOWLEDGMENT
COUNTY OF PULASKI).
On this day of , 1980, before me, a Notary Public, duly
commissioned, qualified and acting, within and for the County and State aforesaid,
appeared in person the within named Webster L. Hubbell, and Jane Czech, Mayor and
City Clerk, respectively, of the City of Little Rock, Arkansas, a municipality of
the State of Arkansas, to me personally known, who stated that they were duly autho-
rized in their respective capacities to execute the foregoing instrument for and in
the name of the City and further stated and acknowledged that they had signed, exe-
cuted 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 official seal this
day of ,
Notary Public
My commission expires;
STATE OF ARKANSAS)
1 ss ACKNOWLEDGMENT
COUNTY OF PULASKI)
On this day of , 1980, before me, a Notary Public, duly
commissioned, qualified and acting within and for the County and State aforesaid,
appeared in person the within named Robert G, Walker and Paul R. Chastain, Chairman
of the Board and 'Vice President, respectively, of Camelot Inn-Little Rock, Inc. , an
Arkansas, corporation authorized to do business in the State of Arkansas, to me per-
sonally well known, who stated that they 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, exe-
cuted and delivered said foregoing instrument for the consideration, uses and purposes
therein xentioned and set forth,
IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this
day cif , 1980,
Notary Public
My cgzmmiss&on expires;
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