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HomeMy WebLinkAbout5851A ORDINANCE 551• i e AN ORDINANCE AUTHORIZING THE MAYOR AND CITY CLERK OF THE CITY OF LITTLE ROCK, ARKANSAS, TO EXECUTE A LEASE FOR CERTAIN PROPERTY IN THE FAIR PARK IN THE CITY OF LITTLE ROCK FOR USE AS .A .SKATING RINK; SETTING FO11TH THE LEASE; AND FOR OTHER PURPOSES. BE IT ORY TNED BY THE CITY CQUNCIL OF THE CITY OF LITTLE ..ROCK, ARKA$SAS SECTION 1: The Mayor and City Clert of the City of Lit- Itle Rack, Arkansas, are hereby authorized to enter into and to j xeeute a lease to Stanley Ellias, doing business as the Fair Park Skating Rink Company, which lease is as follows, to -grit: L E A S E This agreement entered into by and between the City of Little Rock, Arkansas, a municipal corporation, through its Mayor and City Clerk, hereinafter called the Party of the First Part, and Stanley Elliaa, doing business as the Fair Park Skating Rink Company, hereinafter called the Party of the Second Part; WITNESSBTH: WHEREAS; Party of the Second Part desires to lease from ,the Party of the First Part certain property located in Fair Park, for the exclusive skating rights, more completely described as follows, to -wit: 4Beginning at a point forty -five (45) feet north of the _termination of the double drive running north and south in Fair Park on center with the centerline on the west drive, thence west seventy -five .(75) feet to a point, thence north eighty (80) feet, thence east one hundred eighty -two (182) feet,­ thence south eighty (80) feet, thence west one hundred seventeen (117) feet to point of beginning. WHEREAS; Party of the Second Part desires to erect a building on said property for the purpose of housing a skating rink and the Party of the First Part desires to lease the above described location to said Party of the Second Part; NOW, THEREFORE, in consideration of the following terms, Party of the First Part hereby agrees to lease to Party of the Se- cond Part the said location for a term of Five (5) years, beginninE March 1, 1940: w 2 � (1) The rental for the first year of this lease, begin- ning March 1, 1940, shall be in the sum of Thirty -five Dollars ($35.00) per month and shall continue at that figure each year thereafter during the life of the lease except that on any.anni- vesary date after the first year of the life of the lease a dif- ferent rental may be agreed upon by the parties. If no agreement is reached the rental shall continue in the sum of Thirty-five Dollars (35.00) per month. (2) It is understood an+greed that said Party of the Second Part shall pay to the City Collector of the City of Little Rack the rental due on the first of each month; said payments to begin the first day of March, 1940. Failure to pay the said amount shall void this lease and it will become necessary for the Party of the Second Part to enter into a new lease with the Party of the First Part. (3) It is further wade rst o od and agreed by and betwasa e parties, that the Party of the Second: Part is to erect a suit- able building upon the above described property and that said build ing is to become a part of the real property and will become -the property of the Party of the First Part at any time that this lease Is forfeited and /or at the expiration of this lease. (4) At the expiration of thi.s lease, Party of the Second art shall have the option to renew this lease upon such terms and onditions as may then be agreed upon by and between the parties. (5) This lease shall become effective on March 1, 19400 pon the payment by the Party of the Second Part the sum of Thirty -1 Iva Dollars ($3.5.00). includ ing the monthly privilege tax., to the ity Collector of the City of Little Rock, Arkansas. (6) It is further understood and agreed by and between e parties that free skating will be allowed to indigent and under rivileged children at least one day each week during the life of his lease_, said day to be designated by the lessee. (71,f lv. dtk (r1 '0 . • s I s ♦ . 3 r IN TESTIMONY WHMOF, the parties hereto have affixed their hands and seals this day of , 1940. THE FAIR PARK SKATING RINK CO. By Party of Second Part FASM: February ATTEST: "- it y Clerk CITY OF LITTLE ROCK, ARKANSAS B.y Mayor City Clerk Party of the First Part G Xl� VETO OVERRIDDEN l'ebru,.r�r 19, 1940. yor I// "