HomeMy WebLinkAboutMemorandum of Agreement 082721MEMORANDUM OF AGREEMENT
For Parking Lot Usage
This Memorandum of Agreement ("MOA") is entered into, by and between 5701
Kavanaugh, LLC ("5701 Kavanaugh") and Iberia Bank ("Iberia").
Purpose
The purpose of this MOA is to acknowledge a shared parking arrangement whereby 5701
Kavanaugh will be provided use of a parking lot owned by Iberia, as depicted in Exhibit A, on
weekdays, in order for 5701 Kavanaugh to provide additional parking for its tenants at its clinic
to be located at 5701 Kavanaugh Boulevard, Little Rock, Arkansas.
Terms and Conditions
1. Term
The term of the MOA shall begin on April 1, 2019. This MOA continues until terminated
by 5701 Kavanaugh or Iberia as described in this MOA.
2. Responsibilities of 5701 Kavanaugh
A. Assure that signs are posted identifying Iberia Bank Building parking availability for
for tenant overflow parking.
3. Responsibilities of Iberia
A. To allow 5701 Kavanaugh's tenants to use Iberia's parking lot, as depicted in Exhibit
A, for parking during weekdays on a first -come, first -served basis.
B. Iberia. will notify 5701 Kavanaugh, as far in advance as possible, of any special events
that are scheduled for the use of Iberia's parking lot so that the 5701 Kavanaugh may make other
arrangements on those dates.
4. Termination
This MOA can be terminated by Iberia or 5701 Kavanaugh by giving the other party thirty (30)
days prior written notice of intent to terminate.
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5. Entire MOA
This MOA constitutes the entire MOA between the parties. This MOA may be modified or
amended only by the written agreement of 5701 Kavanaugh and Iberia.
AGREED:
IBERIA BANK 5701 Kavanaugh, LLC
By: By:
Its: Pfe Its: Member
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