HomeMy WebLinkAbout4263 RESOLUTION NO. 4,263
A RESOLUTION AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE ON BEHALF OF THE CITY OF
LITTLE ROCK A LEASE AGREEMENT WITH THE ARKANSAS
STATE HIGHWAY COMMISSION TO CERTAIN LANDS BEING
SITUATED NEAR THE MARKHAM STREET INTERCHANGE;
AND FOR OTHER PURPOSES .
SECTION 1. The Mayor and City Clerk are hereby authorized
and directed to execute on behalf of the City of Little Rock a
Lease Agreement with the Arkansas State Highway Commission which
shall be in form and substance as follows :
LEASE AGREEMENT
This Agreement , this day entered into by and between Arkansas
State Highway Commission, as party of the first part , hereinafter
referred to as Lessor, and the City of Little Rock, Arkansas as
Party of the second part , hereinafter referred to as Lessee,
WITNESSETH :
The Lessor, for and in consideration of the agreements and
undertakings of the Lessee hereinafter contained, has leased and
let , and by these presents does hereby lease and let unto Lessee
For the term, and For the purposes and on the conditions herfdn-
after contained, the following described real estate situated in
Pulaski County, to wit :
Area # 1 - The North 1 /2 of Block 10, Pope 's Addition to the
City of Little Rock .
Area #2 - Block 5 of Pope 's Addition to the City of Little
Rock, less and except that part of Block 5 used
For Highway purposes .
Area #3 - That part of Block 1 , Russell ' s Addition to the
City of Little Rock that lies south of the South
R/W line of the Missouri Pacific R .R .
To have and to hold the same unto the said Lessee For and
during the term hereinafter provided and the conditions hereinafter
expressed.
I . Term of Lease . This lease shall be for a term of one ( I )
year, beginning on the day of , 19,__ and ending
on the day of , 19 ; provided however, that either
party shall have the right to terminate said lease upon giving
thirty (30) days ' written notice to the other party.
Lessee shall have the option of renewal of this lease for a
like term and at the same consideration upon giving written notice
of its intention so to do no later than sixty (60) days prior to
the expiration of the term of this ,lease.
2. Purpose . The property conveyed by t his lease is to be
utilized exclusively by Lessee for the purpose of providing regulated
Public vehicular parking areas.
3 . Consideration . As consideration for this lease, Lessee
agrees to pay and Lessor agrees to accept the sum of $ 1 .00, which
the Lessor and Lessee agree is adequate and in the public interest ,
payment of which having this day been made, receipt thereof is hereby
acknowledged.
4. Other considerations. It is mutually agreed that Lessee
may cause to he made such improvements upon said lands as in its
judgment are deemed iecessary to insure that the said lands are
used only and exclusively For the purposes hereinbetore set Forth,
provided such improvements are approved by the Lessor ' s Lngineer .
Lessee further agrees that no explosives, combustibles or
any material which might be deemed to be a danger to the property
of Lessor, will be stored on said lands .
Lessee Further agrees that it will hold harmless the Lessor
from liability for injury or damages to persons or property
arising from the use of the said lands by the Lessee, whether such
persons be the employees of Lessee or whether they be members of
the general public, and whether such property be the property of
Lessee or the property of others .
Dated this day of , 1969 .
ARKANSAS STATE HIGHWAY COMMISSION, LESSOR
By
CITY OF LITTLE ROCK, ARKANSAS, LESSEE
Ry
Mayor
ATTEST :
City Clerk
1
_2_
SECTION 2. This Resolution shall be in full force and
effect from and after its adoption.
ADOPTED: October 6, 1969
ATTEST: / 4d/ APPROVED: �-Ci ty Cle It yor