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RESOLUTION NO. 8,087
A RESOLUTION AUTHORIZING A SECOND
AMENDMENT TO THE CONSTRUCT AND
LEASE AGREEMENT FOR A
CIVIC - CONVENTION HOTEL CENTER DATED
APRIL 17, 19791 AND AUTHORIZED BY
RESOLUTION NO. 6,116 OF THE BOARD
OF DIRECTORS ADOPTED APRIL 3, 1979,
AND AMENDED BY A FIRST AMENDMENT TO
THE CONSTRUCT AND LEASE AGREEMENT
DATED AUGUST 21, 1980, AND
AUTHORIZED BY RESOLUTION NO. 6,396
OF THE BOARD OF DIRECTORS ADOPTED
AUGUST 51 1980; AND PRESCRIBING
OTHER MATTERS RELATED THERETO.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS:
SECTION 1. Having received the prior recommendation of
the Little Rock Advertising and Promotion Commission, there is
hereby authorized the execution and delivery of a Second
Amendment to the Construct and Lease Agreement between the City
of Little Rock, Arkansas, and M.S. Green - Little -Rock
Corporation, an Arkansas corporation; said Second Amendment to
be substantially in the form and with substantially the contents
hereinafter set forth. The Mayor and City Clerk, or their
authorized designees, are hereby authorized to execute,
acknowledge, and deliver the Second Amendment to Construct and
Lease Agreement for and on behalf of the City. The form and
contents of the Second Amendment to Construct and Lease
� -b
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Agreement which are hereby approved, are hereby made a part
hereof the same as thus set out herein word for word and shall
be substantially as shown on Exhibit "A" attached hereto.
SECTION 2. The Mayor, City Clerk, City Manager, and
Little Rock Advertising and Promotion Commission, or any of
them, or their authorized designees, for and on behalf of the
City are hereby authorized and directed to do all things,
execute all instruments, and otherwise take all actions
necessary to the realization of the rights of the City and to
discharge the obligations of the City under the terms of the
Construct and Lease Agreement, and the First Amendment to the
Construct and Lease Agreement, and this Second Amendment to the
Construct and Lease Agreement.
SECTION 3. The provisions of this Resolution are hereby
declared to be separable and if any section, phrase, or
provision shall for any reason be declared to be invalid, such
declaration shall not affect the validity of the remainder of
the sections, phrases, or provisions.
SECTION 4. All Resolutions and parts hereof in conflict
with this Resolution are hereby repealed to the extent of such
conflict.
SECTION S. This Resolution shall be in full force and
effect from and after its adoption.
ADOPTED: January 9, 1989
ATTEST:
— SL
CIT CLERK JANf CZEC:I
MARK STODOLA, CITY ATTORNEY
APPROVED:
,4f,j '� - � &� f s P
MAYOR IVOYD G. VILLINES, III
�b
City of Little Rost •
January 10, 1989
M.S. Green - Little Rock Corp.
437 Madison Avenue
New York, NY 10022
Re: Lease between Pulaski County, Arkansas
and the City of Little Rock, Arkansas
dated August 18, 1988, (the "Lease ") as
assigned to Little Rock Center Associates, Ltd.
Gentlemen:
As lessee /assignor under the Lease, the undersigned hereby
acknowledges, for the benefit of M.S. Green - Little Rock Corp.,
or its assignee (the "Purchaser ") which has entered into a
certain Sale- Purchase Agreement (the "Sale- Purchase Agreement ")
with Little Rock Center Associates, Ltd. (the "Seller ") for the
sale and purchase of Seller's interest in the Lease and certain
other matters, as more particularly set forth in the
Sale- Purchase Agreement with respect to the parking premises
(the "Premises ") leased to the Seller under the Lease, the truth
and accuracy of the following statements pertaining to the Lease
as assigned:
1. The Lease has been assigned to Seller pursuant to an
Assignment of Lease of Parking Lot dated the 18th day of August,
1988 (the "Assignment ").
2. Pursuant t
Seller's performance
City of Little Rock,
month. Said payments
period commencing on
1989. These sums are
applied to the last fi
event of default, su
City. Such payments
31, 1988.
o the Assignment and as security for the
under the Lease, the Seller pays to the
Arkansas ( "City ") the sum of $2,000 per
are to be made for a twelve (12) month
September 1, 1988, and ending on August 1,
to' be held in escrow by the City and
ve (5) months rent under the Lease. In the
ch sums become the sole property Of the
have been paid by Seller through December
3. Neither the Seller nor the city is in default under
any of the provisions of the Lease or the Assignment and there
are no conditions existing that, with notice and /or the passage
of time would constitute a default by the Seller or the
undersigned under the Lease or the Assignment.
4. The undersigned hereby consents to the assignment of
the Lease from Seller to Purchaser and agrees to look solely to
the Seller, and not to the Purchaser, with respect to the
performance of any of the terms and conditions of the Lease or
the Assignment on the part of the lessee thereunder to have been
performed prior to the Closing Date (as such term is defined in
the Sale- Purchase Agreement), or any acts or omissions of the
Seller under the Lease or the Agreement.
The undersigned agrees that the Purchaser and its assigns may
rely upon this letter, and the statements contained herein, in
consummating the transactions contemplated under the
Sale- Purchase Agreement).
Very truly yours,
CITY OF LITTLE OCK, CANSAS
By:
Its: Mayor
Date:
CITY OF LITT ROCK ADVERTISING AND PROMOTION COMMISSION
By: dC'
Its. Chairman
Date: `� 82
CRY of Little Rock •
29
January 10, 1989
M.S. Green - Little Rock Corp.
437 Madison Avenue
New York, NY 10022
Re: Construct and Lease Agreement between City of
Little Rock, Arkansas and Little Rock Center Associates,
Ltd., dated April 17, 1979, as amended to Construct and
Lease Agreement, dated August 21, 1980, collectively,
the "Lease"
Gentlemen:
As lessor under the Lease, the undersigned hereby acknowledges,
for the benefit of M.S. Green - Little Rock Corp., or its assignee
(the "Purchaser ") which has entered into a certain Sale- Purchase
Agreement (the "Sale- Purchase Agreement ") with Little Rock
Center Associates, Ltd. (the "Seller ") for the sale and purchase
of Seller's interest in the Lease and certain other matters, as
more particularly set forth in the Sale- Purchase Agreement with
respect to the premises (the "Premises ") leased to the Seller
under the Lease, the truth and accuracy of the following
statements pertaining to the Lease:
1. The Commencement Date of the Lease is
September 15, 1980, and the date of expiration of
the term Lease is September 14, 2033. In
addition, the lessee under the Lease has two (2)
renewal options of 25 years each.
2. The Lease is in full force and effect and has
not been modified, amended or extended except by
the agreements hereinbefore described and the
undersigned has neither received nor given any
notice of default or notice of termination under
the Lease.
3. All of the construction required to have been
performed by the Seller under the provisions of
the Lease have been satisfactorily completed in
all respects, and, to the best knowledge of the
undersigned, all such construction, and material
used in connection therewith, has been fully paid
for by Seller, and the undersigned has neither
given nor received any notice of any failure on
the part of the undersigned or the Seller to
comply with the provisions of the Lease in
connection with any construction to have been
performed on or about the Premises.
EJ -io
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4. The "rent" being paid by the Seller as of the
date hereof is as follows:
(a) Base Rent: $250,000 by a quarterly
installment of $67,500; paid through March 31,
1989.
(b) Participation Rent: None is payable.
(c) Other: None.
5. There have been no audits or notice given to
audit by the undersigned of the books and records
of the Seller in connection with the payment of
rent except as follows:
The City Manager requested, and obtained, a
review of the books by Peat, Marwick, Main, and
Company that was completed during the fourth
quarter of 1988.
6. The Seller has fully performed all of its
obligations under the Lease in connection with
the Convention Center facilities and the Seller's
rights with respect to the servicing of food and
beverage of said Convention Center facilities
remain in full force and effect, and the
undersigned has neither given nor received any
notice in connection with said food and beverage
service to the Convention Center facilities.
7. The use being made of the Premises by the
Seller is in full compliance with the provisions
of the Lease and local zoning ordinances and
regulations.
8. All public charges and other payments to have
been made by the Seller under the provisions of
the Lease, if any, have been paid to the date
hereof and there are no defaults existing on the
part of the Seller with respect to same.
9. There are no outstanding repairs or
maintenance to have been performed by the Seller
under the provisions of the Lease which have not
been made or performed and the undersigned has
neither given nor received any notice with
respect to same.
10. There are no pending or contemplated
condemnation or other eminent domain proceedings
with respect to the Premises, or any part
thereof.
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11. The undersigned has maintained the amount of
$118,103.94 as a reserve under and pursuant to
Section 8.3 of the Lease.
12. The undersigned, and the Developer, have
maintained the amount of $134,462.10 as a reserve
under and pursuant to Section 7.3 of the
Construct and Lease Agreement. Contributions to
this .fund by the undersigned and the Developer
have been equal.
13. The Seller has no outstanding claims or
rights of offset (whether as to Base Rent,
Participation Rent, additional charges or any
other sum due the undersigned) against the
undersigned.
14. Neither the Seller nor the undersigned is in
default under any of the provisions of the Lease
and, to the best knowledge of the undersigned,
there are no conditions existing there, with
notice and /or the passage of time would
constitute a default by the Seiler or the
undersigned under the Lease.
15. The undersigned hereby consents to the
transactions contemplated by the Sale- Purchase
Agreement and agrees to look solely to the
Seller, and not to the Purchaser, with respect to
the performance of any of the terms and
conditions of the Lease on the part of the
Developer (as such term is used in the Lease) to
have been performed prior to the Closing Date (as
such term is defined in the Sale- Purchase
Agreement), or any acts or omissions of the
Seller as the Developer under the Lease.
The undersigned agrees that the Purchaser and its assigns may
rely upon this letter, and the statements contained herein, in
consummating the transactions contemplated under the
Sale- Purchase Agreement.
Very truly yours,
THE CITY OF LITTLE ROCK, ARKANSAS
By:
Date:
E UF I d
31
fi• � � � � i• fi♦ I• � it f• r i• fi• f�
?, 4 7 City of Little Rot • 2
January 10, 1989
M.S. Green - Little Rock Corp.
437 Madison Avenue
New York, NY 10022
Re: Lease between City of Little Rock, Arkansas
and Little Rock Center Associates, Ltd.
dated September 16, 1988, (the "Lease ")
Gentlemen:
As lessor under the Lease, the undersigned hereby acknowledges,
for the benefit of M.S. Green - Little Rock Corp., or its assignee
(the "Purchaser ") which has entered into a certain Sale- Purchase
Agreement (the "Sale - Purchase Agreement ") with Little Rock
Center Associates, Ltd. (the "Seller ") for the sale and purchase
of Seller's interest in the Lease and certain other matters, as
more particularly set forth in the Sale- Purchase Agreement with
respect to the parking premises (the "Premises ") leased to the
Seller under the Lease, the truth and accuracy of the following
statements pertaining to the Lease:
1. The Commencement Date of the Lease is October 1, 1988,
and the date of expiration of the term of the Lease is September
30, 1998. in addition, the lessee under the Lease has three (3)
renewal options of Ten (10) years each.
2. The space demised under this lease consists of a
maximum of fifty (50) parking spaces, located as follows:
undesignated spaces at City parking facility located on or below
Block 99, Original City of Little Rock, Arkansas.
3. The Lease is in full force and effect and has not been
modified, amended or extended and the undersigned has neither
received nor given any notice of default or notice of
termination under the Lease.
4. The "rent" being paid by the Seller as of the date
hereof is as follows:
(a) Base Rent: $275 per month; paid through
December 31; 1988.
(b) Additional or Excess Rent: A daily rate
per space per day at prevalent parking rates then
in effect for lessee's use of same in excess of
$275 paid up to date.
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(c) Other: None
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5. The use being made of the Premises by the Seller is in
full compliance with the provisions of the Lease and local
zoning ordinances and regulations.
6. There are no outstanding repairs or maintenance to
have been performed by the Seller under the provisions of the
Lease which have not been made or performed and the undersigned
has neither given nor received any notice with respect to
same.
7. There are no pending or contemplated condemnation or
other eminent domain proceedings with respect to the Premises,
or any part thereof.
8. Neither the Seller nor the undersigned is in default
under any of the provisions of the Lease and there are no
conditions existing that, with notice and /or the passage of time
would constitute a default by the Seller or the undersigned
under the lease.
9. The undersigned holds the sum of $ -0- as security
pursuant to the provisions of the Lease.
10. The undersigned hereby consents to the assignment of
the Lease from Seller to Purchaser and agrees to look solely to
the Seller, and not to the Purchaser, with respect to the
performance of any of the terms and conditions of the Lease on
the part of the lessee thereunder to have been performed prior
to the Closing Date (as such term is defined in the
Sale- Purchase Agreement), or any acts or omissions of the Seller
under the Lease.
The undersigned agrees that the Purchaser and its assigns may
rely upon this letter, and the statements contained herein, in
consummating the transactions contemplated under the
Sale- Purchase Agreement.
Very truly yours,
CITY OF LITTLE OCK, ARKANSAS
By:
Its: Mayor 6r'
Date: l l D X;�
CITY OF LITT y9 ROCK ADVERTISING AND
Its: Chairman
Date:
PROMOTION COMMISSION
33
City of Little A • 34
January 10, 1989
M.S. Green - Little Rock Corp.
437 Madison Avenue
New York, NY 10022
Re: Lease between City of Little Rock, Arkansas
and Little Rock Center Associates, Ltd.
dated September 16, 1988, (the "Lease ")
Gentlemen:
As lessor under the Lease, the undersigned hereby acknowledges,
for the benefit of M.S. Green - Little Rock Corp., or its assignee
(the "Purchaser ") which has entered into a certain Sale- Purchase
Agreement (the "Sale- Purchase Agreement ") with Little Rock
Center Associates, Ltd. (the "Seller ") for the sale and purchase
of Seller's interest in the Lease and certain other matters, as
more particularly set forth in the Sale- Purchase Agreement with
respect to the parking premises (the "Premises ") leased to the
Seller under the Lease, the truth and accuracy of the following
statements pertaining to the Lease:
1. The Commencement Date of the Lease is September 1,
1988, and the date of expiration of the term of the Lease is
August 31, 1993. In addition, the lessee under the Lease has
three (3) renewal options of Five (5) years each.
2. The space demised under this lease consists of a
maximum of fourty -four (44) parking spaces, located as follows:
surface parking. at the northeast corner of Markham and Main
Streets, Little Rock, Arkansas.
3. The Lease is in full force and effect and has not
been modified, amended or extended and the undersigned has
neither received nor given any notice of default or notice of
termination under the Lease.
4. The "rent" being paid by the Seller as of the date
hereof is as follows:
(a) Base Rent: $275 per month; paid through
December 31, 1988.
(b) Additional or Excess Rent: based on
usage in accordance with the "Excess Rent Factor"
formula described in paragraph 4 of the Lease.
(c) Other: None
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5. The use being made of the Premises by the Seller is in
full compliance with the provisions of the Lease and local
zoning ordinances and regulations.
6. There are no outstanding repairs or maintenance to
have been performed by the Seller under the provisions of the
Lease which have not been made or performed and the undersigned
has neither given nor received any notice with respect to
same.
7. There are no pending or contemplated condemnation or
other eminent domain proceedings with respect to the Premises,
or any part thereof.
8. Neither the Seller nor the undersigned is in default
under any of the provisions of the Lease and there are no
conditions existing that, with notice and /or the passage of
time, would constitute a default by the Seller or the
undersigned under the Lease.
9. The undersigned holds the sum of $ -0- as security
pursuant to the provisions of the Lease.
10. The undersigned hereby consents to the assignment of
the Lease from Seller to Purchaser and agrees to look solely to
the Seller, and not the Purchaser, with respect to the
performance of any of the terms and conditions of the Lease on
the part of the lessee thereunder to have been performed prior
to the Closing Date (as such term is defined in the
Sale- Purchase Agreement), or any acts or omissions of the Seller
under the Lease.
The undersigned agrees that the Purchaser and its assigns may
rely upon this letter, and the statements contained herein, in
consummating the transactions contemplated under the
Sale- Purchase Agreement.
Very truly yours,
CITY OF LITTLE ROCK, ARKANSAS
By: , X
Its. Mayor
Date:
CITY OF LITT )ROCK ADVERTISING AND PROMOTION COMMISSION
By: j✓ ��: c
Its: Chairman
Date: L J
SECOND AMENDMENT
TO
CONSTRUCT AND LEASE AGREEMENT
This Second Amendment to Construct and Lease Agreement is
36
made and entered into at Little Rock, Arkansas this 10th day of
January 1989, by and between the City of Little Rock, a municipal
corporation, organized and existing under the laws of the State
of Arkansas (hereinafter referred to as the "City "), and M.S.
Green - Little Rock Corp., an Arkansas corporation (hereinafter
referred to as "Developer ").
WHEREAS, the City and Developer's predecessor in interest
entered into a Construct and Lease Agreement, dated April 17,
1979, as amended by a First Amendment To Construct And Lease
Agreement, dated August 21, 1980, as assigned to Developer
(hereinafter collectively referred to as the "Agreement ");
WHEREAS, the continued operation of the Demised Premises
as a first class hotel will further the goals of the City's
Advertising and Promotion Commission of promoting tourism and
conventions and of accomplishing the public purposes contemplated
by Subchapter 2 of Chapter 170, Title 14, Arkansas Code of 1987
Anotated; and
WHEREAS, City and Developer wish to further amend and modify
and do hereby further amend and modify the Agreement.
NOW, THEREFORE, for valuable consideration, the receipt
and sufficiency of which is hereby acknowledged by the City
and Developer, and in consideration of the mutual benefits
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and covenants herein contained, the City and Developer agree
as follows, effective as of January 10, 1989:
1. All of the provisions of Section 1 of the Agreement on
the part of Developer thereunder to have been performed shall
be deemed to have been performed.
2. The provisions of Sections 5.2, 5.3 and 5.4 of the
Agreement shall be deemed deleted in their entirety, and
wherever else in the Agreement the phrase "Participation Rent"
shall appear it shall likewise be deemed deleted.
3. The provisions as to Base Rent for each Lease Year
during the initial term of the Agreement shall be deleted from
Section 5.1 of the Agreement and the Base Rent under the
Agreement shall be deemed to be as follows:
CALENDAR YEAR
LEASE YEARS
BASE RENT
1989 -1993
7 -11
$275,000
1994 -1998
12 -16
300,000
1999 -2003
17 -21
325,000
2004 -2008
22 -26
350,000
2009 -2033
27 -53
375,000
2034 -2058*
54 -88
375,000
2059 -2083*
89 -103
375,000
*renewal terms, if exercised
2
ra 7
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4. The provisions of Section 9.1 of the Agreement shall
be deemed deleted in their entirety.
5. The provisions of Section 10 of the Agreement shall
be deemed deleted in their entirety and in their place and stead
shall be inserted the following:
10. DEEDS OF TRUST AND INSTITUTIONAL
LEASEHOLD MORTGAGES
10.1 Deeds of Trust.
Developer, and its successors and assigns, shall
have the unrestricted right, at any time and from time
to time, to mortgage, pledge or hypothecate this
Agreement and its interest in any building, or any
interest therein, in whole or in part, and to assign,
pledge or hypothecate Developer's interest in any
sublease and /or aspirants as security for any such
mortgage, pledge or hypothecation. Any leasehold deed
of trust, pledge or hypothecation is herein referred to
as a "leasehold mortgage" and the holder thereof as the
"mortgagee" or "leasehold mortgagee ".
10.2 Institutional Leasehold Mortgage.
The term "institutional leasehold mortgage" shall
be construed to mean any leasehold mortgage (i)
originally placed with (and continued to be held by),
or (ii) held by, one or more of the following "Institu-
tions": savings banks, savings and loan associations
and /or insurance companies authorized to make mortgage
loans in the State of Arkansas and shall also be
construed to mean any leasehold mortgage placed with
or held by one or more commercial banks, trust
companies, colleges, universities, teachers' retirement
funds, pension funds or other similar institutions
authorized to make trust deed loans in the State of
Arkansas provided that at the time of the placing with
or acquisition by any such commercial bank, trust
company, college, university, teachers' retirement fund,
pension or other similar institution or institutions of
such mortgage or part thereof, such institution or
institutions shall be permitted by law or by its or
their charter or by -laws, to invest in leasehold
mortgages and be subject to regulations by either the
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Insurance Department of the State of Arkansas or the
Banking Department of the State of Arkansas.
10.3 Rights of Leasehold Mortgagee.
If Developer, or Developer's successors or assigns,
shall grant a leasehold mortgage which shall be a lien
on this Agreement and the estate created hereby or in
part thereof in accordance with the provisions of this
Article 10, then so long as each such leasehold mortgage
shall remain unsatisfied of record, the following
provisions shall apply:
(a) The City and Developer shall not enter
into any agreement providing for a surrender or
modification of this Agreement without the prior
consent in writing of the holder of each such
leasehold mortgage;
(b) Provided that Developer shall give the
City notice of any leasehold mortgage(s) entered
into by Developer with respect to this Agreement,
which notice shall set forth the address(es) to
which notices under this Agreement should be sent
on behalf of the holder(s) of said mortgage(s),
the City, upon serving upon Developer any notice
of default pursuant to the provisions hereof, or
any other notice under the provisions of or with
respect to this Agreement, shall also serve a copy
of such notice upon each such mortgagee, and no
notice by the City to Developer hereunder shall be
deemed to have been duly given unless and until a
copy thereof has been so served in accordance with
subparagraph (i) hereof. Such holder shall have,
after service of such notice upon it, an additional
ten (10) days, if such default be in the payment
of any Base Rent or any additional rent, or an
additional thirty (30) days for any other default,
or such longer period or periods granted Developer
under this Agreement, for remedying the default or
causing the same to be remedied, as is given
Developer after service of such notice upon it,
and, anything herein contained to the contrary
notwithstanding, if such leasehold mortgagee shall
have paid to the City all Base Rent and any other
charges herein provided for then in default, and
shall have complied or shall be engaged in the work
of complying with all the other requirements of
this Agreement, if any, then in default and shall
complete the same, then and in such event the
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City shall not be entitled to and shall not take
any action to effect a termination of this
Agreement; provided, however, that this shall not
in any way affect, diminish or impair the right of
the City, subject to the provisions of this Article
10, to terminate this Agreement or to enforce any
other remedy upon the non - payment of any sum
thereafter payable by Developer or upon any other
subsequent default in the performance of any of
the obligations of Developer hereunder;
(c) Any such mortgagee, in case Developer
shall be in default hereunder, shall, within the
period and otherwise as herein provided, have the
right to remedy such default, or cause the same to
be remedied, and the City shall accept such
performance by or at the instance of such holder as
if the same had been made by Developer;
(d) For the purposes of this Article 10, and
notwithstanding anything to the contrary contained
elsewhere in this Agreement, no event of default
shall be deemed to exist under this Agreement in
respect of the performance of work required to be
performed, or of acts to be done (other than
payments of Base Rent and any other charges and
the payment of insurance premiums as provided here-
under), or of conditions to be remedied, if steps
shall, in good faith, have been commenced promptly
to rectify the same and shall be prosecuted to
completion with diligence and continuity. Where
more than one mortgagee shall have a lien on this
Agreement and the estate created hereby, the City
shall accept performance by any one or more of such
mortgagees as performance by Developer and shall
allow more than one mortgagee to cure or remedy
any default by Developer, provided that if one
mortgagee shall commence the work and thereafter
cease, any other mortgagee shall not be entitled
to a period of more than the applicable cure period
otherwise granted pursuant to the provisions of
this Agreement;
(e) Anything herein contained to the contrary
notwithstanding, upon the occurrence of an event of
default under this Agreement, the City shall take
no action to effect a termination of this Agreement
without first giving to each such mortgagee written
notice thereof and a reasonable time thereafter
within which to obtain possession of the mortgaged
property (including possession by a receiver) and
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to cure such default after obtaining such posses-
sion, and to institute, prosecute and complete
foreclosure proceedings or otherwise acquire
Developer's interest under this Agreement with
diligence; provided, however, that: (x) such
mortgagee shall not be obligated to continue such
possession or to continue such foreclosure
proceedings after such default shall have been
cured; (y) nothing herein contained shall preclude
the City, subject to the provisions of this Article
10, from exercising any rights or remedies under
this Agreement with respect to any other default by
Developer during the pendency of such foreclosure
proceedings; and (z) if such holder shall be (1) a
party other than an Institution, as defined in this
Article 10, such holder shall deposit with the City
during the period of forbearance by the City from
taking action to effect a termination of this
Agreement such security as shall be reasonably
satisfactory to the City to assure to the City the
compliance by such holder during the period of such
forbearance with such of the terms, conditions and
covenants of this Agreement as are susceptible of
being complied with by such holder, or (2) an
Institution, such Institution as shall then be
the holder shall give to the City an undertaking
pursuant to which it shall assure the City of
compliance by such holder during the period of such
forbearance with such of the terms, conditions and
covenants of this Agreement as are susceptible of
being complied with by such Institutional holder;
Provided, however, that if there is a dispute as to
whether a default is susceptible of cure, the City
and the holder or holders of the mortgage shall
submit the susceptibility question to arbitration
pursuant to Section 16.3 of this Agreement. Any
default by Developer which is not susceptible of
being cured by such Institutional holder shall be
deemed to have been waived by the City upon
completion of such foreclosure proceedings or upon
such acquisition of Developer's interest in this
Agreement, it being understood and agreed that such
holder, or its designee, or any purchaser in fore-
closure proceedings (including, without limitation,
a corporation formed by such holder or by the
holder or holders of the bonds or obligations
secured by the leasehold mortgage) may become the
legal owner and holder of this Agreement through
such foreclosure proceedings or by assignment of
this Agreement in lieu of foreclosure, but nothing
M w
42
herein contained shall be deemed to release the
party acquiring the Developer's interest in this
Agreement, whether through foreclosure proceedings
or otherwise, from the obligations imposed pursuant
to the terms and conditions of this Agreement;
(f) In the event of the termination of this
Agreement, prior to the expiration of the term, or
any renewal term, whether by summary proceedings
to dispossess, service of notice to terminate, or
otherwise, due to default of Developer as referred
to in this Article 10, or any other default of
Developer, or if this Agreement shall be disaffirm-
ed by any trustee in any proceeding, or if this
Agreement shall expire by reason of the failure by
Developer to exercise its option to renew the term
thereof, then in any such event the City shall
serve notice of such termination or expiration,
or a copy of any notice of disaffirmance by any
such trustee received by the City together with a
statement of any and all sums which would at that
time be due under this Agreement but for such
termination (including disaffirmance), and of all
other defaults, if any, under this Agreement then
known to the City. Such holder shall thereupon
have the option to obtain a new lease in accordance
with and upon the following terms and conditions:
(i) Upon the written request of any holder
of such mortgage, within thirty (30) days after
service of such notice of termination or expira-
tion, the City shall enter into a new lease for the
demised premises with such holder, or its designee,
as follows; provided, however, that such holder
shall give the City notice of the identity of its
designee, if any, and the City shall have ten (10)
days to object, in writing, to a particular
designee; provided, further, that the City must
have reasonable business grounds for any such
objection to a particular designee:
Such new lease shall be effective as of the
date of termination or expiration of this Agree-
ment, and shall be for the remainder of the term
of this Agreement, together with any renewal terms,
and at the rent and upon all the agreements, terms,
covenants and conditions hereof including, but not
limited to, the right of the mortgagee to exercise
any unexercised renewal options. Simultaneously
with the execution of such new lease, the tenant
named therein shall pay any and all Base Rent and
7
43
other charges which would at the time of the
execution thereof be due under this Agreement but
for such termination or expiration, and shall pay
all actual and reasonable expenses, including,
without limitation, reasonable counsel fees, court
costs and disbursements incurred by the City in
connection with such defaults and termination, the
recovery of possession of the Demised Premises, and
the preparation, execution and delivery of such new
lease;
(ii) Such new lease shall have a priority
equal to this Agreement by virtue of the recording
of a memorandum of such new lease, to be entered
into by the parties hereto upon request by either
party, which shall be effective as of the date of
this Agreement. Either party hereto shall be
permitted to record any memorandum of such new
lease so requested, at such party's sole cost and
expense. Such new lease shall not be or be deemed
to be any estoppel against the City by reason of
any defaults under any prior Agreement or of any
prior party named therein of any obligations to
cure or remedy any and all defaults or failure to
comply with such terms, conditions and covenants
of such prior Agreement as are susceptible of being
complied with by such new tenant; and
The City shall not terminate any sublease for
any space in the Demised Premises;
Any notice or other communication which the
holder of a mortgage on this Agreement shall desire
or is required to give to or serve upon the City
shall be deemed to have been duly given or served
if sent by certified or registered mail, return
receipt requested, addressed to the City at the
City's address as set forth in this Agreement or,
if the City shall have designated a different
address by notice in writing given to any such
holder in like manner, then the notice by such
holder to the City shall only be directed to such
last designated address;
Each such notice and communication shall be
deemed to have been given or served three (3) days
after the time when the same shall be deposited in
the United States mails, postage prepaid, in the
manner aforesaid;
3
I M M M M M
I
(iii) Effective upon the commencement of
the term of any new lease executed pursuant to
paragraph (f) of this Section 10.3, all subleases,
concessions and licenses which theretofore may have
been assigned and transferred to the City shall be
assigned and transferred, without recourse, by the
City to the tenant under such new lease, and all
moneys on deposit with the City hereunder, less
any amounts expended by the City in connection with
any work for which such funds were held, which
Developer would have been entitled to use but for
the termination or expiration of this Agreement
may be used by the tenant under such new lease
for the purposes of and in accordance with the
provisions of such new lease;
(iv) Anything herein contained to the contrary
notwithstanding, the provisions of this Article 10
shall inure only to the benefit of the holders of
any leasehold mortgage. If the holders of more
than one such leasehold mortgage shall make written
requests upon the City for a new lease in accor-
dance with the provisions of paragraph (f) of this
Section 10.3, the new lease shall be entered into
pursuant to the request of the holder whose
leasehold mortgage shall be most junior in lien
provided such holder shall (1) have made timely
request for such new lease and (2) deliver, at the
time of the delivery of such request, a consent
duly executed and acknowledged by the holder of
each mortgage senior in lien to the holder of the
mortgage making such request consenting to the
execution and delivery of such new lease by the
City with such junior mortgagee and setting forth
the unpaid principal balance and accrued interest
due on any mortgage which shall be a lien upon
the new lease and the leasehold estate created
thereunder. All such mortgagees shall, by agree-
ment among themselves and without participation in,
or action on the part of, the City make provision
as may be required for the execution and delivery
of such agreements as shall be required so as to
set forth the liens upon such new lease and the
leasehold estate created thereunder by reason of
the existence of any such senior mortgage or
mortgages. The certification, as of the date of
the termination of this Agreement, as to such
priorities of lien as between the holders of
such mortgages by any title insurance company
then a member of the American Land Title Associ-
ation, shall be conclusively binding upon the
City, Developer and all mortgagees;
E
M M
I M
M M M M
(g) Whenever there shall be a provision for
arbitration or appraisal pursuant to any of the
terms, covenants or conditions of this Agreement,
the mortgagee whose mortgage shall constitute the
first lien upon this Agreement and the leasehold
estate created hereby shall have the right to
appear in such arbitration or appraisal proceed-
ings and to designate the arbitrator or appraiser
who shall act or appear on behalf of Developer
hereunder;
(h) If a particular holder or holders or
prospective holder or holders requires anything in
addition to the provisions of this Article 10, the
City agrees to negotiate in good faith with such
holder or holders to accommodate such additional
language; and
(i) Any notice or other communication which
the City shall desire or is required to give to
or serve upon the holder of a mortgage on this
Agreement shall be in writing and shall be served
by certified or registered mail, return receipt
requested, addressed to each such holder at its
respective address or at such other address as
shall be designated by any such holder by notice
in writing given to the City in like manner. Each
such notice and communication shall be deemed to
have been given or served three (3) days after the
time when the same shall be deposited in the United
States mails, postage prepaid, in the manner
aforesaid.
6. The provisions of Section 14.2 of the Agreement shall
be deemed to have been performed in their entirety; and there
shall be added to the end of Section 14.2 the following:
Notwithstanding the foregoing provisions of
this Section 14.2, as and to the extent that
Developer has expended an amount up to $300.00
per equivalent room per year to maintain the
Demised Premises in a first class condition, then
Developer shall not be obligated to establish a
reserve for replacements for such amounts.
OR
45
I = W
''• ,
7. The provisions of Section 14.5 of the Agreement shall
be deemed deleted in its entirety and instead there shall be
inserted the following:
14.5 Alterations of Improvements. Developer shall
not, without the prior written consent of the City,
demolish all or any portion of the Demised Premises,
or change the Demised Premises so as to make them less
compatible with the operation of the Excepted Premises.
8. The obligations of Developer set forth in Section 17
of the Agreement shall be deemed to have been performed in
their entirety.
9. The provisions of Section 18.6 of the Agreement shall
be deemed to have been performed in their entirety. Despite
the fact that present zoning regulations do not require any
parking for the Demised Premises, the City and Developer agree
that Developer shall maintain 64 parking places for the use of
the Demised Premises. The City agrees to extend any leasehold
interest it has in present parking spaces with Developer to
coincide with the term of the Agreement.
10. The obligations of Developer set forth in section
18.7 of the Agreement shall be deemed to have been performed
in their entirety.
11. The provisions of Section 18.11 shall be revised to
reflect that any notices due to Developer thereunder shall be
sent as follows:
M.S. Green - Little Rock Corp.
c/o Greca International Corp.
437 Madison Avenue
New York, New York 10022
Attention: Masahiko Kasuga
11
and to
Saxon Capital Corporation
805 Third Avenue
New York, New York 10022
Attention: Dennis A. Frank
Except as modified by this Second Amendment to Construct
and Agreement Agreement the terms and conditions of the Agreement
shall remain in full force and effect.
Attest:
Ja e ech, C ty Clerk
Attest:
Barrk TraAlls, Executive
Directdt
At e t:
Arnold J. Schaaf
Secretary
THE CITY OF LITTLE ROCK, ARKANSAS
By: — \Kj � - 0 A-44�
F. d. Irlines, Mayor
LITTLE ROCK ADVERTISING AND
PROMOTION COMMISSION
ti
By: �
B. Finley Vinson, Ch irman
M.S. GREEN- LITTLE ROCK CORP.
By:
12
Masahiko Kasuga,
M
., .
ACKNOWLEDGMENT
STATE OF ARKANSAS )
) ss:
COUNTY OF PULASKI )
Comes this day before me, a Notary Public within and for the
County and State aforesaid, duly commissioned, qualified and
acting, F. G. Villines and Jane Czech, Mayor and City Clerk,
respectively of the City of Little Rock, Arkansas, a municipal
corporation, with whom I am personally acquainted and who upon
oath acknowledged themselves to be such officers of The City of
Little Rock, Arkansas and that they as Major and City Clerk,
being authorized so to do executed the foregoing instrument for
the purposes therein contained by signing in the name of the
City of Little Rock, Arkansas as such officers.
WITNESS my hand and official seal this loth day of January
1989.
X.�-d.�u 0 r6` -�
Notary Niblic
My Commission Expires:
M M M V M M M M M
M.
STATE OF ARKANSAS)
) ss.
COUNTY OF PULAKSI)
ACKNOWLEDGMENT
Comes this day before me, a Notary Public within and for
the County and State aforesaid, duly commissioned, qualified and
acting, B. Finley Vinson, and Barry Travis, the Chairman and
Executive Director, of the Little Rock Advertising and Promotion
Commission, a municipal corporation, with whom I am personally
acquainted and who upon oath acknowledged themselves to be such
officers of the Little Rock Advertising and Promotion
Commission, and that they as Chairman and Executive Director,
being authorized so to do executed the foregoing instrument for
the purposes therein contained by signing the name of the Little
Rock Advertising and Promotion Commission as such officers.
WITNESS my hand and official seal this 10th day of
January, 1989.
N tary Public
My Commission Expires:
9=: n �.. ( 6 . r 49�
50
ACKNOWLEDGMENT
STATE OF ARKANSAS )
) ss:
COUNTY OF PULASKI )
Comes this day before me, a Notary Public within and for the
County and State aforesaid, duly commissioned, qualified and
acting, Masahiko Kasuga and Arnold J. Schaab, President and
Secretary, respectively of M.S. Green- Little Rock Corp., an
Arkansas corporation, with whom I am personally acquainted and
who upon oath acknowledged themselves to be such officers of
M.S. Green - Little Rock Corp., and that they as President and
Secretary, being authorized so to do executed the foregoing
instrument for the purposes therein contained by signing in the
name of M.S. Green - Little Rock Corp., as such officers.
WITNESS my hand and official seal this 10th day of January,
1989.
My Commission Expires:
// _lo / C/
�1
MEMORANDUM OF SECOND AMENDMENT TO LEASE AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
That The City of Little Rock, Arkansas, as Landlord, has
leased and demised to Little Rock Center Associates, Ltd., an
Arkansas limited partnership, as Tenant, under the terms and
conditions of an unrecorded Construct and Lease Agreement dated
the 17th day of April, 1979, as amended on August 21, 1980, and
as assigned to M.S. Green - Little Rock Corp., an Arkansas
corporation, as Assignee, by assignment of lease entered into
simultaneously herewith (hereinafter collectively, the "Lease
Agreement "), between the undersigned parties which Lease
Agreement demises a leasehold interest in and to a certain
portion of the Convention Center Hotel Complex in Little Rock,
Arkansas, as more fully described in Exhibit "A" annexed hereto.
The Lease Agreement has been modified in certain respects
pursuant to a Second Amendment to Construct and Lease Agreement
dated of even date herewith (hereinafter the "Second
Amendment ").
The modifications to the Lease Agreement are specifically
set forth in the Second Amendment, and include modifications to
Sections 1, 5, 9, 10, 14, 17 and 18 of the Lease Agreement. In
all other respects, the obligations and rights of Landlord and
Assignee with respect to the above described property are set
forth in the Lease Agreement, as amended.
This instrument is merely a memorandum of said unrecorded
Second Amendment and is subject to all the terms, conditions and
provisions thereof. In the event of any inconsistency between
the terms of this instrument and said unrecorded Second
�L -3,3
l -5
Amendment, the terms of said unrecorded Second Amendment shall
prevail.
IN WITNESS WHEREOF, the parties hereto have executed this
Memorandum of Second Amendment to Lease Agreement on this 10th
day of January, 1989.
THE CITY OF LITTLE ROCK, ARKANSAS
By: j
F. G. Vi lines, Mayor
ATTEST: l
J 1 QIA10,a)
Jane Czech, CiAt# Clerk
M.S. GREEN- LITTLE�ROCK CORP.
By:���f Z-
Masahiko Kasuga,
1
ATT ST:
Arnold J. Schaab,
52
Attest:
Batry TXIkVis, Executive
Direc r
LITTLE ROCK ADVERTISING AND
PROMOTION COMMISSION
By:�Zi%
B. Finley Vinson, Chairman
53
STATE OF ARKANSAS)
) ss:
COUNTY OF PULASKI)
ACKNOWLEDGMENT
54
Comes this day before me, a Notary Public within and for the
County and State aforesaid, duly commissioned, qualified and
acting, F. G. Villines and Jane Czech, Mayor and City Clerk,
respectively, of the City of Little Rock, Arkansas, a municipal
corporation, with whom I am personally acquainted and who upon
oath acknowledged themselves to be such officers of the City of
Little Rock, Arkansas and that they as Mayor and City Clerk,
respectively, being authorized so to do, executed the foregoing
instrument for the purposes therein contained by signing in the
name of the City of Little Rock, Arkansas as such officers.
WITNESS my hand and official seal this 10th day of January,
1989.
My Commission Expires:
CV
STATE OF ARKANSAS)
) ss:
COUNTY OF PULASKI)
No ary Public
ACKNOWLEDGMENT
Comes this day before me, a Notary Public within and for the
County and State aforesaid, duly commissioned, qualified and
acting, Masahiko Kasuga and Arnold J. Schaab, President and
Secretary, respectively, of M.S. Green - Little Rock Corp., an
Arkansas corporation, with whom I am personally acquainted and
who upon oath acknowledged themselves to be such officers of
M.S. Green - Little Rock Corp., and that they as President and
Secretary, respectively, being authorized so to do, executed the
foregoing instrument for the purposes therein contained by
signing in the name of M.S. Green - Little Rock Corp., as such
officers.
WITNESS my hand and official seal this 10th day of January,
1989.
My Commission Expires:
//_ 6 - 9 /
otary Public
M M
ACKNOWLEDGMENT
STATE OF ARKANSAS)
) ss.
COUNTY OF PULAKSI)
M M M M
55
Comes this day before me, a Notary Public within and for
the County and State aforesaid, duly commissioned, qualified and
acting, B. Finley Vinson, and Barry Travis, the Chairman and
Executive Director, of the Little Rock Advertising and Promotion
Commission, a municipal corporation, with whom I am personally
acquainted and who upon oath acknowledged themselves to be such
officers of the Little Rock Advertising and Promotion
Commission, and that they as Chairman and Executive Director,
being authorized so to do executed the foregoing instrument for
the purposes therein contained by signing the name of the Little
Rock Advertising and Promotion Commission as such officers.
WITNESS my hand and official seal this 10th day of
January, 1989.
NO ry Public
My Commission Expires:
/�K
M
EXHIBIT "A"
[Attached]
I= = = = w
56
SCHEDULE "A"
PARCEL NO. 1 LA HARPE LEVEL - SERVICE AREA (HOTEL)
57
M
Air rights between mean sea level elevations 271.03 and 290.32 for demised
premises as described below:
An area lying in Lots 1 and 2 of Fractional Block 80, Lot 6 of Block 79,
and part of the abandoned right -of -way of North Louisiana Street between
West Markham Street and La Harpe Boulevard, all in the Original City of
Little Rock, Pulaski County, Arkansas, being more particularly described
as follows:
Commencing at the Southeast corner of said Block 79; thence North 890 13'
52" West along the North right-of -way line of West Markham Street 434.03
feet; thence North 00° 16` 08" East, 178.98 feet to a Point of Begirnin:
on the Southeast corner of a loading dock at the Southwest corner.of a
concrete block wall; thence Northerly along the West edge of a column
line 98.36 feet to an "X" chisled in•a concrete paved truck access. area;
thence Easterly 93.67 feet to a point on the Northerly exterior face of a
concrete block wall; thence Southerly through the concrete block wall
0.65 feet to an interior room corner; thence continuing Southerly 23.37
feet along the Westerly face of a partition wall to an interior room
corner; thence continuing Southerly 0.60 feet through a partition wall to
the Southerly face of a partition wall; thence Easterly along the face of
the partition wall 18.47 feet to the Westerly face of a column; thence
Southerly along the face of the column 1.67 feet to the Southwest corner
of the column; thence Easterly along the Southerly face of the column
2.03 feet to a.point on the Westerly face of a partition wall; thence
Southerly along the Westerly face of the wall 22.27 feet to a point on the
interior of a column; thence Easterly 0.60 feet to the.intersection of the
Easterly face of the column and'the Southerly face of a partition wall;
thence Easterly along the Southerly face of the wall 11.37 feet to the
Westerly face of a column; thence continuing Easterly 2.63 feet through
the column to the intersection of the Easterly face of the column and
the Southerly face of a partition wall; thence continuing Easterly 15.35
feet along the Southerly face of the wall to an interior room corner on
the Westerly face of a concrete block wall; thence continuing Easterly
0.65 feet through the concrete block wall to the Easterly face of the
concrete block wall;
56-
thence Southerly along the Easterly face of the concrete block wall 63.85
feet; thence Westerly 0.65 feet through the concrete block wall to the
Northerly face of a partition wall; thence Westerly 6.50 feet along said
partition wall to a corner of an intersecting partition wall; thence
continuing Westerly through said intersecting partition wall 0.60 feet;
thence continuing Westerly along the face of the partition wall 82.41 feet
to an interior room corner; thence Northerly along the Easterly face o:
rartition wall 6.50 feet; thence Westerly 0.60 feet through the partition
wall to the Northerly face of a partition wall; thence continuing
Westerly along a partition. wall 22.42 feet to a partition wall corner;
thence Northerly along the Easterly face of a partition wall 9.46 feet to
an interior wall corner; thence Westerly 0.60 feet through the partition
wall to a partition wall corner; thence Westerly along the Southerly face
of the Easterly face of a concrete block
z partition wall 9.00 feet to
wall; thence Southerly zlong the Easterly face of the concrete block wall
1.83 feet to the Southeast corner of the concrete block wall; thence
Westerly along the Southerly face of the concrete block wall, 27:92 feet to
the corner of a non - structural sheetrock colu.;m; thence continuing
Westerly along the Southerly face of the concrete block wall 1.17 feet to
the Point of Beginning; demised area containing 0.312 acre (13,571 S.F.),
more or less.
r r r r r■ r r
59
PARCEL NO. 2 : LA HARPE LEVEL - ELEVATOR PIT EXTERIOR (HOTEL)
Air rights between mean sea level elevations 271.03 and 290.32 for demised
premises as described below:
An area lying in Lots 2 and 3 of Fractional Block SO of the Oricinal City
of Little Rock, Pulaski County, Arkansas, being more particularly
described as follows:
Commencing at the Southeast corner of Block 79 of the Original City of
Little Rock; thence North 890 43' 52" West along the North right -of -way
line of Markham Street 464.31 feet; thence North 000 16' 08" last, 171.75
feet to a Point of Beginning at the Westernmost exterior concrete block
wall corner of an elevator pit; thence North 450 East along the exterior
face of a concrete block wall 19.57 feet to the Northernmost corner of the
elevator pit; thence South 45° East, along the exterior face of *a concrete
block wall 3.61 feet to a point on the exterior face of a concrete wall;
thence North 45° East along the exterior face of the concrete wall 1.01
feet to a corner; thence South 45° East along the exterior face of a
concrete wall 6.05 feet to the Easternmost corner of the elevator pit;
thence South 45° West along the exterior face of a concrete wall 21.65
C
eet to the Southernmost corner of the elevator pit; thence North 450
West along a concrete wall 6.02 feet to'the exterior corner of a concrete
wall; thence North 450 East along the exterior face of a concrete wall
1.07 feet to a "point on the exterior face of a concrete block wall;
thence north 45° West along the exterior face of the concrete block wall
3.70 feet to the Point of Beginning; -demised area containing 0.004 acre
(202 square feet), more or less.
M M M M
n�
.i
PARCEL NO. 3: LA HARPE LEVEL — ELEVATOR PIT INTERIOR (HOTEL)
Air rights between mean sea level elevations 271.03 and 290.32 for demise,
premises as described below:
An area lying in Lot 2 of Fractional Block 80 and the east -west alleyway
of Fractional Block 80 of the Original City of Little Rock, Pulaski
County, Arkansas, being more particularly described as follows:
Commencing at the SE corner of Block 79 of the Original City of Little
Rock; thence N 89 143152" W along the north right -of -way line of West
Markham Street 446 .70 feet; thence N. 000 16" 08" E, 153.97 feet to a
Point of Beginning at the westernmost interior concrete corner of an
elevator pit; thence N 450 E along a concrete wall of the elevator pit
19.66 feet to the northernmost interior corner of the elevator pit; thence
S 450 E along a concrete wall 4.00 feet to a corner; thence continuing S.
450 E through a concrete wall 1.19 feet to an interior. corner; thence
continuing S 450 E along the interior concrete wall 3.83 feet to a
concrete block interior corner; thence southerly along the concrete block
wall 4.21 feet to a corner; thence S 45° W along the interior concrete
block wall 13.79 feet to a cornet; thence westerly along the interior .
concrete block wall 4.18 feet to -a corner; thence N 451 W along the
interior concrete block and concrete wall 3.88 feet to a corner ; thence
continuing N. 45° W through an .interior concrete wall 1.18 feet -to a
corner; thence continuing N 45° W along the concrete wall 3.97 feet to the
Point of Beginning; demised area containing 0.005 acre (228 square feet),
more or less.
PARCEL N0. 4:
LA HARPE LEVEL -
SERVING AREA (HOTEL)
6�
Air rights between mean sea level elevations 271.03 and 290.32 for demised
premises as described below:
An area lying in Lots 11 and 12 of Fractional Block 80 and the east -west
alleyway of Fractional Block 60 of the Original City of Little Rock,
Pulaski County, Arkansas; being more particularly described as follows:
Commencing at the SE corner of Block 79, of the Original City of Little
Rock; thence N 89 °43152" is along the north right -of -way line of West
Markham Street 424.94 feet; thence N 00° 16'08" E, 140.50 feet to a Point
of Beginning on the face of a partition wall; thence northerly 0.60 feet
through the partition wall to a corner of the partition wall; thence
northerly along the exterior face of the partition wall 2.65 feet to a
corner; thence N 450 E along the exterior face of a partition wall 17.62
feet to a corner; thence easterly along the exterior face of a partition
wall 11.77 feet; thence southerly 0.60 feet through a partition wall to
an interior partition wall corner; thence continuing southerly along the
east face of a partition wall 13.95 feet to a corner; thence continuing
southerly 0.60 feet through a partition wall to its southerly face; thence
westerly along the wall 24.27 feet to the. Point of Beginning; demised area
containing 0.007 acre (290 square feet) , more or less.
62
PARCEL NO. 5 : MARKF AM LEVEL - LOBBY, LOUNGE AND FOOD SERVICES (HOTEL)
Air rights between mean sea level elevations 290.32 and 308.32 for demised
premises as described below:
A tract of land situated in Lot 11 part of Lots 2,3;10,11 and 12, all of
the East -West alleyway of Fractional Block 80, and part of Lots 6 and 7 o=
Block 79 and the East -West alleywav of Block 79, all in the Original Citv
1. of Little Rock, Pulaski County, Arkansas; a part of the right -of -way of
the Missouri Pacific Railroad; a part of the right -of -way of La Harpe
Boulevard and part of the abandoned right -of -way of North Louisiana Street
between West Markham Street and La Harpe Boulevard; being more
particularly described as follows:
Commencing at the Southeast corner of said Block 79; thence North 890 43'
52" West along the North right -of -way line of West Markham Street 481.50
f
eet; thence North 000 16' 08" East, 41.65 feet to a Point of Beginning
at the Southwest corner of an exterior brick wall; thence North along the
exterior face of a bricked column line 229.72 feet to an exterior corner
of the brick wall; thence East along the brick wall 6.90 feet to a corner
of the brick wall; thence North 450 East along the brick wall 17.87 feet
to a corner; thence Northerly along the brick wall 13:30 feet to a
corner; thence Easterly along the brick wall 26.60 feet to a corner;
thence North 450 East along the brick wall 60.71 feet to a corner; thence
Northerly along the brick wall 90.82 feet to a Northerly edge of the-upper
terrace to a corner; thence Easterly along the brick wall 84.30 feet to a
corner. thence Northerly along the brick wall 11.55 feet to corner and
along it's - projection Northerly 12.10 feet to the North face of a brick
wall; thence Easterly along the North face of the brick wall 13.75 feet;
thence Southerly along the Westerly end of a brick wall 2.47 feet to a
corner; thence Easterly along the brick wall 5.34 feet to a corner;
thence Southerly along a concrete block wall 9.74 feet; thence Westerly
along a brick wall 5.35 feet tthence corner;
Easterly alongoatbrick wall 5.90 feet
brick
wall 21.99 feet to a corner; Y
to a point on the exterior face of a door frame; thence Southerly along
the Westerly face of the door frame 11.80 feet to a brick wall; thence
Westerly along a brick wall 2.34 feet to a corner; thence Southerly along
a brick wall 4.36 feet to a corner;
63
thence Easterly along the brick wall 2.34 feet to the exterior face of a
door frame; thence Southerly along the Westerly face of the door frame
8.41 feet to the point of intersection of the doorway with the Northerly
£zce of a partition wall projected Westerly; thence Easterly along the
projected face of the partition wall and the Northerly face of the
partition wall 7.25 feet; thence Southerly along the Westerly face or a
column line 83.30 feet; thence Westerly, parallel to and 3.5 feet South
of a glass wall for a distance of 11.02 feet; thence South 450 West,
parallel to and 3.5' Southeasterly from a glass wall for a distance of
7.72 feet; thence westerly, parallel to and 2.0 feet South of a partition
wall for a distance of 10.27 feet; thence Southerly across a foyer and
through a column in the center of the foyer 22.00 feet; thence Easterly,
parallel to and 2.0 feet North of a partition wall for a distance of 10.25
feet; thence South 450 East, parallel to and 3.5 feet Northeasterly of a
glass wall for distance of 8.0 feet; thence Easterly parallel to and 3.5
feet Northerly of a glass wall for a distance of 10.75 feet; thence
Southerly along the Westerly face of a colurin line 104.87 feet to a
partition wall; thence Easterly along the partition wall 2.33 feet to a
corner; thence Southerly along the partition wall 33.75 feet to a corner;
thence South 27° 27' West across the "Great Lobby" 33.36' a point on the
interior of a column at the intersection with the Easterly projection of
the Southerly face of a gutter lire above the Markham Street level;
thence Westerly along the Southerly gutter line and it's projections
Easterly for distance of 67.01 feet; thence South 45° West along the
Southeasterly gutter line 40.10 feet; thence Southerly continuing along
the Easterly gutter line 11.50 feet; thence Westerly along the center of
the column line 28.92 feet to the Easterly face of a brick wall; thence
Southerly along the brick wall 14.69 feet to a corner; thence Westerly
along a brick wall 16.54 feet to a corner; .thence Southerly along the
brick wall 14.76 feet to a corner of the brick wall; thence Westerly
along the brick wall 47.48 feet to the Point of -Beginning; demised area
containing 1.330 acres (57,936 S. F.) , more or less.
64
PARCEL NO. 6 MARNHAM LEVEL - RETAIL (HOTEL)
Air rights between mean sea level elevations 290.32 and 308.32 for demised
premises as described below:
Pn area located in the SE;, NE'•;, Section 3, Township 1 North, Range 12
West, Pulaski County, Arkansas, and comprising part of the right -of -way of
the Missouri Pacific Railroad and part of the right -of -way of La Harae
Boulevard; being more particularly described as follows:
Commencing at the Southeast corner of Block 79 of the Original City of
Little Rock; thence North 89° 43' 52" West along the North right -of -way
line of West Markham Street 227.55 feet; thence North 00° 16' 08" East,
307.74 feet to a Point of Becinning situated on the exterior face of a
brick wall; thence Northerly along the exterior face of the brick wall
100.52 feet; thence West through the brick wall, along the Northerly face
of a column and along the Southerly face of a partition wall 32.32 feet to
the Easterly face of a column line extended; thence Southerly along the
face of the column line 87.25 feet to the intersection of the Easterly
face of the column line with the Southerly face of a partition wall column
projected Westerly; thence Easterly along the projected Southerlv face of
the column 19.80 feet; thence South 450 East, 18.20 feet along the
Northwesterly projection of a partition wall column, along the
Southwesterly face of the partition wall column, and through a brick wall
to the Point of Beginning; demised area containing 0.067 acre (2,903
S.F.), more or Jess.
65
PARCEL NO. 7 : MA_RXHAbl LEVEL - ESCALATOR AND STAIRS (HOTEL)
Air rights between mean sea level elevations 290.32 and 308.32 for demised
premises as described below:
An area located in Lots 5 and 6 of Block 79 of the Original City of Little
Rock, and in La Harpe Boulevard; all in the SE;, NE; of Section 3, T -1 -N,
R -12 -W, Pulaski County, Arkansas; being more particularly described as
follows:
Commencing at the Southeast corner of Block 79; thence North 890 43' 52
Nest along the North right -of -way line of West Markham Street 266.05 feet;
thence North 00° 16` O8" East, 286.00 feet to a Point of Beginning
situated at the Southwest corner of a partition wall; thence Northerly
along the partition wall 18.60 feet to a corner; thence Easterly along the
partition wall 29.20 feet; thence Southerlv 18.60 feet; thence Westerly
29.20 feet to the Point 'of Beginning; demised'area containing 0.012 acre
(543 S.F.), more or less.
M M M
PARCEL NO. 8 :
MARKHAM LEVEL - RETAIL (HOTEL)
M M M M
66
Air rights between mean sea level elevations 290.32 and 30S.32 for dimised
premises as described below:
Fn area loca£ed in Lots 5 and 6 of Block 79 of the Original City of Little
Rock, Pulaski County, Arkansas; being more particularly described as
follows:
Commencing at the Southeast corner of said Block 79, thence North 890 43'
52" West along the North right -of -way line of West Markham Street 213.96
feet; thence North 00° 16' 08" East, 258.46 feet to a Point of Beginning
situated at the intersection of a concrete block wall and a partition
wall; thence Northerly along the Easterly face of the partition wall and
through a partition wall 22.20 feet to its Northerly face; thence
Westerly alone the Northerly face of the partition wall 13'.60 feet to a'
brick wall; thence continuing Westerly through the brick wall and a
partition wall 2.30 feet; thence continuing Westerly 2.88 feet; thence
South 450 West, parallel to and 3.6 feet Northwesterly of a glass wall
11.94 feet; thence Westerly, parallel to and 2.0 feet North of a
partition wall for a distance of 15.30 feet; thence Southerly to and then
along the partition wall 13.80 feet; thence Easterly through the
partition wall and along the Northerly face of a concrete block wall 42.60
feet to the Point of Beginning; demised area containing 0.018 acre (781
S.F.), more or less.
67
PARCEL NO. 10 : BALLROOM LEVEL (HOTEL)
.Air rights between the top of a floor slab at mean sea level elevation
308.32 and the center of a floor slab at elevation 329.25 for demised
premises as described below:
An area located in the SE;, NEB:, Section 3, Township 1 North, Range 12
West, Pulaski County, Arkansas, and comprising all of Lot 1 and part of
Lots 21 3, 10, 11, and 12 and all of the East -West alleyway of Fractional
Block 80, and part of Lots 4, 5, 6, and 7 and part of the East -West
alleyway of Block 79, all of the Original City of Little Rock; part of the
right -of -way of the Missouri Pacific Railroad; part of the right -of -way of
La Harpe Boulevard; part of the abandoned right -of -way of North Louisiana
Street between West Markham Street and La Harpe Boulevard, and part of the
abandoned right -of -way of Ashley Street between La Harpe and West Markham;
more particularly described as follows;
Commencing at the Southeast corner of said Block 79; thence North 89° 43'
52" West along the North right -of -way line of West Markham Street 481.50
feet; thence North 00° 16' 08" East 41.65 feet to a Point of Beginning
situated on an exterior Southwest corner of a brick wall; thence
Northerly along the exterior face of a bricked column line 229.72 feet to
a corner; thence Easterly along the brick wall 6.90 feet to a corner;
thence North 45° East along the brick wall 17.87 feet to a corner; thence
Northerly along the exterior face of the brick wall 13.30 feet to a
corner; thence Easterly along the brick wall 26.60 feet to a corner;
thence North 45° East along the brick .wall 60.71 feet to a corner; thence
Northerly along the brick wall 68.27 feet; thence Easterly along a brick
wall 164.86 feet to a corner; thence Southerly along the brick wall 99.71
feet to a corner; thence Southeasterly along the brick wall 9.67 feet to
a corner; thence Southerly along the brick wall 19.72 feet to a corner;
thence Easterly along the brick wall 27.97 feet to a corner; thence
Southerly along the brick wall 25.17 feet to a corner; thence Westerly
along the exterior face of the brick wall 62.85 feet to a corner; thence
continuing Westerly through the exterior wall and along the Southernmost
edge of a balcony for a total distance of 16.37 feet to a corner of the
balcony; thence continuing along the outermost edges of the balcony
Southerly 93.90 feet and Westerly 5.15 feet to the Easterly wall of a
stair enclosure; thence Southerly along the Eastern wall of the stair
enclosure 26.70 feet to a corner;
NIGMO
thence continuing Southerly along the projection of the wall of the stair
enclosure 29.39 feet through the sloping glass wall to a point above the
Southernmost face of the gutter line at the toe of the sloping glass wall;
thence Westerly along the Southerly face of the gutter 85.40 feet to a
corner of the gutter; thence South 450 West along the Southeasterly face
of the gutter 40.10 feet to a corner of the canopy; thence Southerly
along the Easterly face of the..gutter 41.10 feet; :thence Westerly to-and.
along the exterior face of a brick wall 92.94 feet to the Point of
Beginning; demised area containing 1.549 acres (67,493 S.F.), more or
less.
PARCEL N0. 11 :
M M
BALLROOM LEVEL - SKYWALY (HOTEL)
M = M
"69
Air rights between mean sea level elevations 305.68 and 319.39 for demised
premises as described below:
A portion of Lot 11 of Fractional Block 80 of the original City of Little
Rock, Pulaski County, Arkansas, being more particularly described as
follows:
Commencing at the Southeast corner of Block 79 of. the said Original City
of Little Rock; thence North 890 43' 52" West along the North
right -of -way line of West Markham. Street 424.38 feet to a Point
of Beginning situated on the Easternmost edge of a skywalk;. thence North
000 23' 21" East along the Easternmost edge of the skywalk 41.52 feet to
the face of a brick building wall; thence North 88° 53' 46" West alone
the brick wall 8.96 feet to a point on the Northwest corner of the
skywalk; thence South 000 15' 15" West along the Westernmost edge of the
skywalk 41.65 feet to the North right -of -way line of West Markham Street;
thence continuing South 00° 15' 15" West along the edge of the skvwalk 60
feet to the South right -of -way line of Markham Street; thence South 891
43' 52" East along the South right -of -way line of West Markha_.n Street 8.72
feet to the Easternmost edge of the skywalk; thence North 000 23' 21"
East along the edge of the skywalk 60 feet to the Point of Beginning;
demised area containing 0.021 acres (898 S.F.), more or less.
PARCEL NO. 14 : HOTEL GUEST TOWER - ALL LEVELS (HOTEL)
r r r r
°70
Air rights above elevation 329.25 for demised premises as described below:
An area lying in Block 79, Fractional Block 80 and in the abandoned
right -of -way of North Louisiana Street between West Markham Street and La
Harpe Boulevard, all in the Original City of Little Rock, -Pulaski County,
Arkansas being more particularly described as follows:
Commencing at the Southeast corner of said Block 79, thence North 890 43'
52" West along the North right -of -way line cf West Markham Street 481.50
feet; thence North 000 16' 08" East, 56.15 feet to a Point of Beginninc
at the corner of the exterior edge of a brick tower; thence Northeriv
alone the Westerly exterior edge of the tower 101.40 feet to a corne =;
thence Easterly 12.7 feet to a point on the face of the brick wall where z
circular wall intersects at the upper two floor levels; thence along the
circular wall or its projections along a radius of 35 feet and arc or
55.0 feet to the Westerly face of a'brick wall; thence along the
outermost perimeter of the tower structure the following courses and
distances: Northerly 12.7 feet; Easterly 157.55 feet; Southerly 46.3
feet; Westerly 14.1 feet; Southerly 18.15 feet; Westerly 111.4 feet;
South 45° West, 21.45 feet; Southerly 83.2 feet; Westerly 35.65 feet;
Northerly 5.5 feet; Westerly 14.1 feet; Northerly 9.0 feet; and Westerly
14.6 feet to the Point of Beginning; tract of land containing 0.388 acre
(16,912 S.F.), more or less.
71
WEST MARKHAM STREET - Air Rights
Air rights over a portion of West Markham Street between mean sea level
elevation 304.33 and 319.39 for the tract of land described below:
A tract of land located in the SE;, NE,, Section 3, Township 1 North,
Range 12 West, 'Pulaski County, Arkansas, said tract being .a portion of. the.
right -of -way of West Markham Street adjacent to Fractional Block 80' and
Block 81, Original City of Little Rock, said tract being more particularly
described as follows:
Commencing at the Southwest corner of said Fractional Block 80; thence
along said North right- of -wav line of West Markham Street South 890 43'
52" East, 45.75 feet to the Point of Beginning; thence continue along
said North right -of -way line of West Markham Street South 89' 43' S2"
East, 12.00 feet to a point; thence South 00° 16' 08" West, 60.00 feet to
a point, said point being on the South right -of -way line of West Markham
Street; thence along said South right -of -way lire of West Markham Street
North 890 43' 52" West, 12.00 feet to a point; thence North 000 16' 08"
East, 60.00 feet to the Point of Beginning, and containing 720 square feet
or 0.0165 acre, more or less.
EXHIBIT TO RES. #8,087 (CONT`D.)
72
TOGETHER WITH EASEMENTS AND CROSS EASEMENTS for access, ingress, egress,
support and maintenance over, through and across the followng described
tracts, as described on attached sheets as Convention Center Tract 1;
Convention Center Tract 2; ; La Harpe Boulevard Air Rights and Easement
Tract; Missouri Pacific Railroad - Air Rights; West Markham Street - Air
Rights; North Main Street - Franchise Tract; West Markham Street -
Franchise Tract and Ashley Street Franchise.Tract.•..
P-,3 y
A•- a-
CONVENTION CENTER
TRACT I
A tract of land located in the SE;, NE; Section 3,
Range 12 West, Pulaski County, Arkansas, said trac
Block 79, all of Fractional Block 80, the abandoned
Louisiana Street between West Markham Street and La
part of the Ashley Street right -of -way between West
Harpe Boulevard, all a part of the Original City of
tract being more particularly described as follows:
73
Township 1 North,
t comprising part-of
right -of -way of North
Harpe Boulevard, and
Markham Street and La
Little Rock; said
Beginning at the sw corner of the original Fractional Block 80; thence
along a Westerly extension of the North right -of -way line of West Markham
Street North 89° 43' 52" West, 2.00 feet to a point; thence along a line
that is 2.00 feet West of and parallel to the East right -of -way line of
Ashley Street North 000 12' 36" East, 300.05 feet to a point, said point'
being on a Westerly extension bf the'South right -of -way line of La Harpe
Boulevard; thence South 890 43' 52" East 2.00 feet to a point, said
point being the intersection of the East right -of -way line of Ashley
Street with the South right -of -way line of La Harpe Boulevard; thence
continuing along said South right -of -way line of La Harpe Boulevard South
890 43' 52" East, 330.13 feet to a point, said point being the Northwest
corner of Lot 3, said Block 79; thence -South 790 46' 17" East, 152.35
feet to a point, said point being on the West right -of -way line of North
Main Street; thence along said West right -of -way line of North Main
Street South 00° 13' 50" West, 248.70 feet to a point; thence South 450
15' 08" West 35.34 feet to a point, said point being on the North
right -of -way line of West Markham Street; .thence along said North
right -of -way line of West *Markham Street North'890 . 43' 52" West 455.06
feet to the Point of Beginning, and containing 142,367 square feet or
3.268 acres, more or less.
74
CONVENTION CENTER TRACT 2
A tract of land located in the SEL, NE; Section 3, Township 1 North, Rance
12 West, Pulaski County, Arkansas, said tract being more particularly
described as follows:
Commencing at the Southwest corner of Fractional Block 80, Original City
of Little Rock; thence along a Northerly extension"of the East
right -of -way line of Ashley Street North 00° 12' 36" East, 397.13 feet to
a point on the North right- of -wav line of the Missouri Pacific Railroad;
thence Northeasterly along said North right -of -way line along a curve to
the left having a radius of 865.32 feet for a distance of 66.25 feet, said
curve having a chord bearing And distance of North 880 58' 35"-East, 66.23
feet; thence continuing along said North right -of -way line North 860 46'
59" East, 10.00 feet to the Point of Beginning; thence North 000 12' 36"
East, 74.35 feet to a point; thence South 890 47' 24" East, 101.38 feet
to .a point; thence North 00° 12' 36" East, 23.00 feet to a point; thence
North 450 12' 36" East, 61.63 feet to a point; thence South 890 47' 24"
East, 96.14 feet to a point; thence South 440 47' 24" East, 99.39 feet to
a point; thence South 00° 12' 35" West, 80.00 feet to a point on'the
North right -of -way line of the Missouri Pacific Railroad; thence
Northwesterly along said North right -of -way line along a curve to the left
having a radius of 1166.08 feet for a distance of 116.33 feet, said curve
having a chord bearing and distance of North 83° 30' 19" West, 116.28
feet; thence continuing along said North right -of -way line a curve to the
left having a radius of 1166.08 feet for a distance of 139..49 feet, said
curve having a chord bearing and distance of North 890 47' 24" West,
139.41 feet; thence continuing along.said North right -of -way line South
860 46' 59" West, 56.49 feet to the Point of Beginning, and containing
33,186 square feet or 0.762 acres, more or less.
75
LA HARPE BOULEVARD - Air Rights and Easement Tract
Air rights above mean sea level elevation 286.4 and for easement as
required for intermediate supports for structures to be constructed on
said right -of -way, for the tract of land described below:
A tract of land located in the SEA;, NE3;, Section 3, Township 1 North,
Range 12 West, Pulaski County, Arkansas, said tract consisting of a
portion of the right -of -way of La Harpe Boulevard, said tract being more
particularly described as follow:
Commencing at the Southwest corner of Fractional Block 80, Original City
of Little Rock; thence along the West line of Fractional Block 80 North
000 12' 36" East, 300.05 feet to a point, said point being on the North
line of Lot 3, said Block 80 and the Point of Beginning; thence
continuing North 000 12' 36" East, 63.57 feet to a point, said point being
on the North right -of -way line of La Harpe Boulevard; thence
Northeasterly along said North right -of -way line of La Harpe Boulevard
along a curve to the left having a radius of 898.82 feet for a distance of
68.25 feet, said curve having a chord bearing and distance of North 880
57' 30" East, 68.24 feet; thence continuing along said North right -of -way
line North 86° 46' 59" East, 66.49 feet to a point; thence Southeasterly
along said North right -of -way line along a curve to the right having a
radius of 1132.58 feet for a distance of 137.49 feet, said curve having a
chord bearing and distance of South 89° 44' 22" East, 137.41 feet; thence
South 00° 12' 36" West, 69.20 feet to a point, said point being on the
North line of Lot 5, Block 79, Original City of Little Rock; thence North
89° 43' 52" West 272.00 feet to the Point of Beginning, and containing
18,516 square feet or 0.425 acres, more or less..
76
WEST MARFH;01 STREET - Franchise Tract
A tract of land located in the SE;, NE;, Section 3, Township 1 North,
Range 12 West, Pulaski County, Arkansas, said tract being a portion of the
right -of -way of West Markham Street, South of and adjacent to a portion of
Fractional Block 80 and Block 79, Original City of Little Rock, said tract
being more particularly described as follows;
Commencing at the Southwest corner of said Fractional Block. 80; thence
along said North right -of -way line of West Markham Street South 890 43'
52" East, 43.67 feet to the Point of Beginning; thence continue along
said North right -of -way line of West Alarkham Street South 890 43' 52 1f.r
East, 311.50 feet to a point; thence South 00° 16' 0811, West 9.50 feet
a point; thence along a line that is 9.50 feet South of and parallel to
said North right -of -way line of West Aiarkham Street North 890 43' 52"
West, 311.50 feet to a point; thence North 00° 16' 08" East, 9.50 feet
the Point of Beginning and containing 2,959 square feet or 0.068 acre,
more or less.
to
to
r r it rr �r r - rr r r rr r�
r� it r
77
NORTH r1AIN STREET - Franchise Tract
A tract of land located in the SE;, NE;, Section 3 and in the Siva, NW;,
Section 2, all in Township 1 North, Range 12 West, Pulaski County,
Arkansas, said tract being a portion of the right- of -wav of North Main
Street adjacent to Block 79, Original City of Little Rock, said tract
being more particularly described as follows:
Commencing at the Southeast corner of said Block 79, said point being the
intersection of the North right -of -way line of West Markham Street with
the West right -of -way line of North Main Street; thence along said West
right -of -way line of North Main Street North 000 13' 50" East, 133.00 feet
to the Point of Beginning; thence South 89° 46' 10" East, 21.33 feet to z
point; thence North 000 13' 50" East, 31.83 feet to a point; thence
South 890 46' 10" East, 10.67 feet to a point; thence North 00° 13' S0"
East, 40.83 feet to a point; thence North 560 31' 20" East, 104.58 feet
to a point; thence North 840 57' 58" West, 119.42 feet to a point, said
point being on said West right -of -way line of North Main Street; thence
along said West right -of -way line of North Main Street South 00° 13' 50"
West, 140.70 feet to the Point of Beginning, and containing 6,963 square
feet or 0.160 acres, more or less.
768
MISSOURI PACIFIC RAILROAD - Air Rights
Air rights above mean sea level elevation 287.75, for the tract of land
described below:
A tract of land located in the SE;, NE;, Section 3, Township 1 North,
Range' 12 West, Pulaski County, Arkansas, said tract consisting of a
portion of the right -of -way of the Missouri Pacific Railroad, said tract
being more particularly described as follows:
Commencing at the original Southwest corner of Fractional Block 80,
original City of Little Rock; thence along the Westerly line of said
Block 80 North 00° 121. 36" East, 363.62 feet to a point, said point being
on the South right -of -way line of the Missouri Pacific Railroad and the
Point of Beginning; thence continuing North 000 12' 36" East, 33.51 feet
to a point, said point being on the North right -of -way line of the
Missouri Pacific Railroad; thence Northeasterly along said North
right -of -way line of the Missouri Pacific Railroad along a curve to the
.left having a radius of 865.32 feet for a distance of 66.25 feet, said
curve having a chord bearing and distance of North 880 58' 35" East, 66.23
feet; thence continuing along said North right -of -way line North 860 46'
59" East, 66.49 feet to a point; thence Southeasterly along said North
right -of -way line along a curve to the right having a radius of 1166.08
feet for a distance of 139.49 feet, said curve having a chord bearing and
distance of South 890 47' 24" East, 139.41 feet; thence South 000 12' 36"
West, 33.56 feet to a point, said point being on the South right -of -way
line of the Missouri Pacific Railroad; thence Northwesterly along said
South right -of -way line of the Missouri Pacific Railroad along a curve to
the left having a radius of 1132.58 feet for a distance of 137.49 feet,
said curve having a chord - bearing and distance of North 890 44' 22" West,
137.41 feet; thence continuing along said South right -of -way line South
860 46' 59" West, 66.49 feet to a point; thence Southwesterly along said
South right -of -way line along a curve to the right having a radius of
898.82 feet for a distance of 68.25 feet, said curve having a chord
bearing and distance of South 88° 57' 30" West, 68.24 feet to the Point of
Beginning, and containing 9,120 square feet or 0.209 acres, more or less.
79
ASHLEY STREET - FRANCHISE TRACT
A tract of land located in the SE;, NE;, Section 3, Township 1 North,
Range 12 West, Pulaski County, Arkansas, said tract being a portion of the
Ashley Street right -of -way, West of Fractional Block 80, Original City of
Little Rock, said tract being more particularly cescribed as follows:
Commencing at the original Southwest corner of said Fractional Block 80;
thence along a Westerly extension of the North right -of -way line of West
Markham Street North 89° 43' 52" West, 2.00 feet to a point; thence along
a line that is 2.00 feet West of and parallel to the original East
right -of -way line of Ashley Street North 00° 12' 36" East, 161.00 feet to
the point of beginning; thence North 89° 47' 24" hest, 3.42 feet to a
point; thence North 00° 12' 36" East, 51.00 feet; thence South 890 47'
24" East, 3.42 feet; thence along a line that is 2.00 feet West of and
parallel to the original East right -of -way line of Ashley Street South 000
12' 36" West, 51.90 feet to the point of beginning; and containing 175
scuare feet or 0.004 acres, more or less.
Said property being the same as shown on survey by William E. Ruck,
dated January 10, 1989.
a
PARCEL NO. 1 : LA HARPE LEVEL - SERVICE AREA (HOTEL) REVISED 1 -10 -89
Air rights between mean sea level elevations 271.03 and 290.32 for demised
premises as described below:
An area lving in Lots 1 and 2 of Fractional Block 80, Lot 6 of Block 79,
and part of the abandoned right -of -way of North Louisiana Street between
West Markham Street and La Harpe Boulevard, all in the Original City of
Little Rock, Pulaski County, Arkansas, being more particularly described
as follows:
Commencing at the Southeast corner of said Block 79; thence North 890 43'
52" West along the North right -of -way line of West Markham Street 434.03
feet; thence North 000 16' 08" East, 178.98 feet to a Point of Beginning
on the Southeast corner of a loading dock at the Southwest corner of a
concrete block wall; thence Northerly along the West edge of a column
line 98.36 feet to an "X" chisled'in a concrete paved truck access area;
thence Easterly 93.67 feet to a point on the Northerly exterior face of a
concrete block wall; thence Southerly through the concrete block wall
0.65 feet to an interior room corner; thence continuing Southerly 23.37
feet along the Westerly face of a partition wall to-an interior room• --
corner; thence continuing Southerly 0.60 feet through a partition wall to
the Southerly face of a partition wall; thence Easterly along the face of
the partition wall 18.47 feet to the Westerly face of a column; thence
Southerly along the face of the column 1.67 feet to the Southwest corner
of the column; thence Easterly along the Southerly face of the column
2.03 feet to a point on the Westerly face of a partition wall; thence
Southerly along the Westerly face of the wall 22.27 feet to a point on the
interior of a column;thence Easterly 0.60 feet to the intersection of the
Easterly face of the column and the Southerly face of a partition' wall;
thence Easterly along the Southerly face of the wall 11.37 feet to the
Westerly face of a column; thence continuing Easterly 2.63 feet through
the column to the intersection of the Easterly face of the column and
the Southerly face of a partition wall; thence continuing Easterly 15.35
feet along the Southerly face of the wall to an interior room corner on
the Westerly face of a concrete block wall; thence continuing Easterly
0.65 feet through the concrete block wall to the Easterly face of the
concrete block wall;
81
thence Southerly along the Easterly face of the concrete block wall 63.8S
feet; thence westerly 0.65 feet through the concrete block wall to the
Northerly face of a partition wall; thence Westerly 6.50 feet along said
partition wall to a corner of an intersecting partition wall; thence
continuing Westerly through said intersecting par tition wall 0.60 feet;
thence continuing iesterly along the face of the partition wall 82.41 feet
to an interior room corner; thence Northerly along the Easterly face of
partition wall 6.50 feet; thence Westerly 0.60 feet through the partition
wall to the Northerly face of a partition wall; thence continuing
Westerly along a partition wall 22.42 feet to a partition wall corner;
thence Northerly along the Easterly face of a partition wall 9.46 feet to
an interior wail corner; thence Wes6e thence W0.60 fee along the parlytfoce
wall to a partition wall corner; Y g the
of a partition wall 9.00 feet to the Easterlv face of a concrete block
wall; thence Southerly along the Easterly face of the concrete block wall
1.88 feet to the Southeast corner of the concrete block will; thence
Westerly along the Southerly face o *' the concrete block wall 27.92-feet tc
the corner of a non - structural sheetrock column; thence continuing
Westerly along the Southerly face of the concrete block wall 1.17 feet to
the Point of Beginning; demised area containing 0.312 acre (13,571 S.F.),
more or less..
8`� 0273
82
PARCEL NO. 8 : MARKHAiM LEVEL - RETAIL (HOTEL) REVISED 1 -10 -89
Air rights between mean sea level elevations 290.32 and 308.32 for dimised
premises as described below:
An area located in Lots 5 and 6 of Block 79 of the Original City of Little
Rock, Pulaski County, Arkansas; being more particularly described a=-
follows:
Commencing at the Southeast corner of said Block 79, thence North 890 43'
52" West along the North right -of -way line of Hest Markham Street 213.96
feet; thence North 00° 16' 08" East, 258.46 feet to a Point of Beginning
situated at the intersection of a concrete block wall and a partition
wall; thence Northerly along the Easterly face of the partition wall and
through a partition wall 22.20 feet to its Northerly face; thence
Westerly along the Northerly face of the partition wall 13.60 feet to a
brick wall; thence continuing Westerly through the brick wall and a
partition wall 2.30 feet; thence continuing Westerly 2.88 feet; thence
South 45° West, parallel to and 3.6 feet Northwesterly of a glass wall
11.94 feet; thence Westerly, parallel to and 2.0 feet North of a
partition wall for a distance of 15.30 feet; thence-Southerly to' and then
along the partition wall 13.80 feet; thence Easterly through the
partition wall and along the Northerly face of a concrete block wall 42.60
feet to the Point of Beginning; demised area containing 0.018 acre (781
S.F.), more or less.
And also, beginning at the above described Point of Beginning, thence
northerly along the easterly face of a• partition wall and through a
partition wall 22.20 feet to the northerly face of the corridor wall;
thence easterly along the northerly face of the south corridor wall 4.95
feet; thence northerly along said corridor wall 0.45 feet; thence easterly
along the northerly face of the south corridor wall 8.69 feet to the end
wall of the corridor; thence northerly 5.0 feet to the south face of a
brick wall; thence easterly along the south face'of'the brick wall 9.2
feet; thence southerly along the west face of a brick wall 11.0 feet;
thence continuing southerly along the extended alignment of the brick wall
16.2 feet; thence westerly along the north face of a block wall 22.9 feet
to the Point of Beginning; demised area containing 0.013 acres (554 S.F.),
more or less.