HomeMy WebLinkAbout5972 RESOLUTION NO 5,972
A RESOLUTION AUTHORIZING A FIRST AMENDMENT
TO THE PARKING FACILITIES LEASE AGREEMENT
BETWEEN THE CITY OF LITTLE ROCK , THE LITTLE
ROCK MUNICIPAL PARKING AUTHORITY AND THE
LITTLE ROCK ADVERTISING AND PROMOTION COM-
MISSION; AND FOR OTHER PURPOSES
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS.
SECTION 1. The Board of Directors of the City of Little
Rock hereby authorizes the Mayor and City Clerk to execute ,
for and on behalf of the City of Little Rock , a First Amendment
to that certain Parking Facilities Lease Agreement between the
City of Little Rock , the Little Rock Municipal Parking Authority
and the Little Rock Advertising and Promotion Commission dated
October 4 , 1972 , to provide for a one year extension of said
lease , such extension to become effective June 5 , 1978 . Said
Amendment further provides for automatic renewal for successive
one year terms . A copy of said First Amendment is attached to
this Resolution and made a part hereof the same as though set
out herein word for word, marked Exhibit "A" .
SECTION 2. This Resolution shall be in full force and effect
from and after its adoption.
ADOPTED: July 26, 1978
.040 11
ATTEST : ����( APPROVED:
c
ity Clerk Mayor
FIRST AMENDMENT TO LEASE AGREEMENT
PERTAINING TO THE MUNICIPAL PARKING
FACILITIES IN THE CONVENTION CENTER
COMPLEX
WHEREAS, under date of October 4 , 1972 , the City of Little Rock and
the Little Rock Municipal Parking Authority , an agency of the City of
Little Rock, Arkansas , as Lessor, and the Little Rock Advertising and
Promotion Commission , an agency of the City of Little Rock , as Lessee ,
entered into a parking facilities lease agreement pertaining to and for
the underground parking facilities adjacent to and east of the Robinson
Auditorium in the City of Little Rock all pursuant to authority of Reso-
lution #4 , 878 of the City of Little Rock , Arkansas adopted October 3 ,
1972 ; and
WHEREAS , the Lessor and Lessee find it advantageous to both parties
to amend said lease to provide for an extension of the term thereof
together with provisions for renewal .
NOW THEREFORE, in consideration of the mutual benefits accruing to
both Lessor and Lessee under that certain lease agreement pertaining to
the underground parking facilities east of and adjacent to Robinson
Auditorium dated October 4 , 1972 , the said parties hereby amend said
agreement in the following particulars only :
1) The term of the said Lease Agreement is extended for one (1)
year effective June 5 , 1978. Further, said Lease Agreement shall there-
after automatically be renewed for successive one (1) year terms unless
either Lessor or Lessee serves the other with written notice of intention
not to renew at least ninety (90) days prior to the expiration date of
any given one year term.
2) Except to the extent and where this amendment provides to the
contrary , all and each of the provisions of the original lease of the
parties dated October 4 , 1972 shall. remain full force and effect and
be binding upon the parties .
IN WITNESS WHEREOF Lessor and Lessee have caused these presents
to be signed and sealed this ` day of , 1978 in three
-2-
counterparts .
CITY OF LITTLE ROCK, ARKANSAS - LESSOR
BY
Mayor
Attest :
City Clerk
LITTLE ROCK MUNICIPAL PARKING AUTHORITY
LESSOR
BY
Chairman
Attest:
Secretary
LITTLE ROCK ADVERTISING & PROMOTION
COMMISSION - LESSEE
BY
Chairman
ATTEST:
Secretary