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HomeMy WebLinkAbout9872i ­4 ORDINANCE NO. 9872 v 1 y AN ORDINANCE AMENDING THE LEASE WITH BIG ROCK STONE & MATERIAL COMPANY OF CERTAIN LANDS ON THE SOUTH BANK OF THE ARKANSAS RIVER BETWEEN SPRING STREET EXTENDED AND MAIN STREET SO AS TO PERMIT THE RELOCATION OF TRACKS OF MISSOURI PACIFIC RAILROAD COMPANY AND ENABLE CONSTRUCTION OF RIVERFRONT DRIVE; EXTENDING THE TERM OF THE LEASE AS AMENDED; LEASING ADDITIONAL LANDS TO BIG ROCK STONE AND MATERIAL COMPANY; AND EXTENDING THE TERM OF THE LEASE OF A PORTION OF BLOCK 186 BY BIG ROCK STONE AND MATERIAL COMPANY TO THE CITY. WHEREAS, on April 5, 1943, the City of Little Rock, by its Mayor and City Clerk, as authorized and empowered by Ordiananee No. 6538, approved April 5, 1943, did execute and deliver to Big Rock Stone & Material Company an agreement of leases conveying to Big Rock Stone & Material Company for a term ending December 1, 20.2, the following land situate in the City of Little Rock, County of Pulaski, State of Arkansas, to -wit: That tract or parcel within the City of Little Rock bounded as follows: On the East by the West line of the tract leased by the City to the Athletic Association, dated January 15, 1900; on the West by the West line of Broadway, extended; on the South by the right of way of the Missouri Pacific Rail- road; and on the North by the harbor line on the South bank of the Arkansas River, except that part of Block 186 of the Original City of Little Rock, lying North of the right of way of the Missouri Pacific Railroad, title to which said exception was then recognized in Lessee by the City as pro- vided by paragraph numbered 5 of said Agreement of Leases; which said agreement of leases is of record in Book 321, Page 33, of the mortgage records of Pulaski County, Arkansas; and WHEREAS, the City of Little Rock has requested Big Rock Stone & Material Company to release from said agreement of leases a portion of the leased premises for the purpose of affording a right of way for Missouri Pacific Railroad Company in order that said company may adjust the location of its track facilities to permit the construction of a new thoroughfare for vehicular traffic commonly known as the Riverfront Drive; and WHEREAS, Big Rock Stone & Material Company is willing to amend the aforesaid lease by releasing therefrom certain of the property conveyed therein, provided said lease as amended be ex- tended for an additional term, and provided the City of Little Rock will include irl' said.lease as amended certain other properties I owned by the City of Little Rock east of and adjacent to the premises conveyed in the aforementioned lease of April 5, 1943, -2- S -and will agree to certain other changes in said lease; and WHEREAS, as additional consideration therefor Big Rock Stone & Material Company has made certain other concessions and agreements whereby the City of Little Rock may obtain title to that portion of Block 186 of the Original City of Little.Rock lying South of the right of way of Missouri Pacific Railroad Company; and WHEREAS, it is for the best interests of the City of Little Rock that said transaction be consummated: NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LITTLE ROCK: SECTION 1. For the consideration herein recited, the City of Little Rock agrees to extend the term of the lease executed pursuant to Ordinance No. 6538 on April 5, 1943, and recorded in Book 321, Page 33, of the Mortgage Records of Pulaski County, Arkansas, for a term ending on August 1, 2054, with certain ex- ceptions hereafter mentioned, and to include in said lease as amended for the full term thereof certain other property herein- after described, and the City further agrees that paragraphs numbered 10 and 11 of the agreement of leases dated April 5, 1943, herein - before mentioned shall be eliminated and shall cease to have any force or effect after the passage and approval of this ordinance. SECTION 2. The consideration for the extension of the existing lease and for the inclusion therein of additional lands shall be the release by Big Rock Stone & Material Company of cer- tain properties included in the agreement of leases dated April 5, 1943, and the extension of the term of the lease from Big Rock Stone & Material Company to the City leasing a portion of Block 186 of the Original City of Little Rock. SECTION 3.- In order to carry into effect the agreement herein contained, the Mayor and City Clerk of the City of Little Rock are hereby authorized, empowered, and directed to execute a contract on behalf of and in the name of the City of Little Rock, in the following form, to -wit: Sim "AGREEMENT OF LEASE "THIS AGREEMENT OF LEASE Made by and between the City of Little Rock, Arkansas, its successors and assigns, herein also referred to as "City ", and Big Rock Stone & Material Company, an Arkansas corporation, its successors and assigns, herein also referred to as the "Company "; "WITNESSETH: "1. For and in consideration of the release by Company of a portion of the premises leased to it pursuant to an agreement of leases executed April 5, 1943, of record in Book 321, Page 33, of the Records of Pulaski County, Arkansas, and other good and valuable considerations, the City leases and demises to the Company for a term of ninety -nine (99) years, beginning on the date hereof and ending on August 1, 2054, the following described land in the City of Little Rock, County of Pulaski, State of Arkansas, to -wit: A tract or parcel of land in the City of Little Rock, Arkansas, bounded as follows: On the East by the West boundary line of Main Street prolonged to the harbor line on the South bank of the Arkansas River; on the West by the West boundary line of Spring Street prolonged to the harbor line on the South bank of the Arkansas River; on the North by the harbor line on the South bank of the Arkansas River; and on the South by a line described as follows, to -wit: The North boundary line of a strip of land being 10 feet to the South (right) and 23.5 feet to the North (left), distances measured normal to the following base line, for a total width of 33.5 feet, from the West line of Spring Street to the West line of Main Street, Little Rock, Arkansas, said base line being described as follows: Beginning at a point on the West line of Spring Street and 177.41 feet North of the Southeast corner of Block 186 (which is on the North line of Garland Street); thence Southeastwardly, along a five degree curve to the right and which curve's tangent forms an angle of 74 degrees 27 minutes from the said West line of Spring Street in the Southeast quadrant, a distance of 95.13 feet to a point of tangent (end of curve); thence continue Southeastwardly by a straight line, tangent off last described curve, 159.50 feet to a point on the Northerly extension of the East line of Conway Street, and which point is 152.46 feet North of the South line of Garland Street measured along said -4- Northerly extension; thence continue along said straight line, 66.93 feet to the point of curve (beginning) of six degree twenty -four minutes curve to the left; thence Eastwardly, along the curve, 372.71 feet to point of tangent (end of curve); thence Noutheastwardly, by a straight line, tangent off last described curve, 66.20 feet to the point of curve (beginning) of five degree three minutes thirty second curve to the right; thence Eastwardly, along said curve, 250.25 feet to point of tangent -(end of curve); then Southeastwardly, tangent to the last described curve, 65.35 feet to point of curve (beginning) of a three - degree forty -three minute curve to the left, thence 31.35 feet East- wardly along said curve to the West line of Main Street, in Little Rock, Arkansas; except a parcel of property to the North of, and adjoin- ing the above described thirty -three and five tenths foot strip of land between the West line of Spring Street and Ashley Street, more particularly described as follows: Beginning at a point on the West line of Spring Street which is 201.80 feet North of the Southeast corner of Block 186 (which is on the North line of Garland Street); thence Northwardly, along the West line of Spring Street, 10.21 feet; thence South- eastwardly, on a deflection angle of 105 degrees 23 minutes to the right, 66.71 feet to a point 12.10 feet North of the above identified 33.5 strip of land, and measured normally thereto; thence South- eastwardly, in a straight line, 148.42 feet to a point 14.31 feet similarly North of said strip of land; thence Southeastwardly, in a straight line, 119.50 feet to a point 15.50 feet similarly North of said strip of land; thence Southeastwardly, in a straight line, 45.08 feet to a point 14.17 feet similarly North of said strip of land; thence North - wardly on a deflection angle of 90 degrees to the left, a distance of 1.08 feet; thence Southeast- wardly in a straight line 25.08 feet to a point 14.37 feet similarly North of said strip of land; thence Southeastwardly in a straight line, 6.33 feet to a point 14.90 feet similarly North of said strip of land; thence Southeastwardly, in a straight line, 33.95 feet to a point 11.00 feet similarly North of said strip of land; thence Southwardly, 11.00 feet to the said strip of land and measured normally thereto; thence Northwestwardly 443.61 feet more or less along the said North boundary line of said strip of land, to the point of be- ginning; containing 6,059 square feet, more or less. "2. With respect to that portion of the premises herein leased by the City to the Company that was included in the lease from the City to the Company, dated April 5, 1943, and recorded in Book 321, Page 33, of the Records. of Pulaski Colinty, Arkansas, this lease shall be considered as an extension of the aforementioned lease of April 5, 1943, under amended provisions and conditions as herein set forth. -5- "3. In consideration of this lease, the Company does hereby release from the agreement of leases dated April 5, 1943, that portion of the premises leased by the City to the Company that is not included in the description set forth in Paragraph 1 of this agreement of lease and agrees that the City may take possession forthwith of such released portion. "4. This lease is on the conditions and subject to the provisions hereinafter stated, each of which is of the essence of this contract. "5. The release by the Company of certain of the premises leased by the City to the Company in the agreement of leases dated April 5, 1943, and the extension of the term of the lease by the Company to the City of a portion of Block 186 of the Original City of Little Rock are payment in full of all rents and rental value of the additional tract herein leased by the City to the Company for the full term of the lease, and of the rents and rental value of the tract on which the existing lease is extended for the full term of such ex- tension. 116. The Company acquired title by purchase on November 1, 1927, of that part of said Block 186 lying north of the right of way of the Missouri Pacific Railroad Company; and the ownership thereof by the Company, acquired as aforesaid, is recognized by the City. "7. In its occupancy of the leased premises the Company shall have the right to fill any holes, excavations, or washes thereon, and erect buildings thereon, and on the termination of this lease the Company may remove any buildings or other erections placed on the leased premises by the Company. "8. The City covenants with the Company that the City has a good right to make this lease as to all premises herein leased by the City to the Company, and the City undertakes that the Company shall have quiet enjoyment of the leased premises during the full term hereof. "9. On the termination of this lease, either by lapse of time or for any other reason, the Company, as Lessee, shall have four (4) months' time in which to remove any buildings or other improvements placed by it on the leased premises, such removal to be at the expense of the company. "10. With respect to the premises leased by the City to the Company, the terms and provisions of this lease shall supersede the terms and provisions of the agreement of leases dated April 5, 1943, but said agreement of leases dated April 5, 1943, shall remain in full force and effect with respect to the property therein leased by the Company to the City; and the term thereof is extended to August 1, 2054; provided, however, Paragraphs 10 and 11 of said agreement of leases dated April 5, 1943, are hereby cancelled and terminated for all purposes. "11. This agreement is executed by the Mayor and City Clerk, respectively, for the City, pursuant to the authority contained under the provisions of Ordinance No. of the City Council of the City of Little Rock, passed 1955. "WITNESS our hands and seals this day of , 1955. CITY OF LITTLE ROCK, (SEAL) ATTEST: City Clerk (SEAL) ATTEST: Secretary By Mayor BIG ROCK STONE & MATERIAL COMPANY, By Vice President w -7- "STATE OF ARKANSAS, ss. "COUNTY OF PULASKI . "ACKNOWLEDGMENT "ON THIS, the day of 1955, before me, the undersigned officer, personally appeared Pratt C. Remmel and W. C. Ware , Mayor and City Clerk, respectively, of the City of Little Rock, Arkansas, known to me to be the persons described in the foregoing in- strument, and acknowledged that they executed the same in the capacity therein stated and for the purposes therein contained. "IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notary Public "My commission expires "STATE OF ARKANSAS, ss. "COUNTY OF PULASKI. " ACKNOWLEDGMENT "ON THIS, the day of 1955, before me, the undersigned officer, personally appeared W. E. Vroman, who acknowledged himself to be the Vice President of Big Rock Stone & Material Company, a corporation, and that he, as such Vice President, being authorized-so to do, executed the fore- going instrument for the purposes therein contained, by signing the name of the corporation by himself as Vice President. "IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notary Public "My commission expires i * , • . SECTION 4. All ordinances or parts of ordinances in conflict herewith are hereby repealed. SECTION 5. Whereas, a serious traffic condition exists in the City of Little Rock; and, whereas, the securing of adequate right of way for the establishment and location of the Riverfront Drive is urgent; and, whereas, this ordinance is necessary to properly protect the public peace, health, and safety, an emergency is hereby declared to exist and.this ordinance shall be in full force and effect from and after its passage and approval by the Mayor. PASSED: August 1, 1955 ATTEST: y Clerk APPROVED: Mayor uv uL�