HomeMy WebLinkAbout36-88 RESOLUTION 4
RESOLUTION NO. 36-88 0 CANNED
A RESOLUTION AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE A MODIFICATION OF THE LEASE
AGREEMENT WITH LORENE O'DONNELL FOR OPERATION
OF THE AIRPORT RESTAURANT.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
That the Mayor and City Clerk are hereby authorized and
directed to execute a modification of the lease agreement with
Lorene O'Donnell for operation of the airport restaurant. A copy
of the modification authorized for execution hereby is attached
hereto marked Exhibit "A" and made a part hereof.
PASSED AND APPROVED this 17th day of May , 1988 .
APPROVED
By:
Mayor
Ai7ST‘ :O. \'''e
Bs`, ' t Clerk
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:' zi • . P
y
MICROFILMED
MODIFICATION OF LEASE AGREEMENT
This MODIFICATION OF LEASE AGREEMENT executed this 17th day
of May , 1988 , by and between the City of Fayette-
ville, Arkansas, hereinafter called "Lessor" , and Lorene
O'Donnell, hereinafter called "Lessee" .
WHEREAS, Lessor and Lessee executed an airport restaurant
lease agreement dated December 15 , 1985 , which agreement is
incorporated herein by reference thereto; and
WHEREAS, the parties desire to modify said agreement.
NOW, THEREFORE, Lessor and Lessee mutually agree that the
airport restaurant lease agreement between the parties dated
December 15, 1985 , shall be modified as follows:
1 . Paragraph 5 of said lease agreement is hereby modified
by amending the first sentence in said paragraph to read as
follows:
Effective December 15 , 1987 , Lessee shall pay Lessor as
rent for use of the demised premises during the term of
this lease eight per cent ( 8%) of Lessee' s gross sales
per month on the demised premises or $1,498.75 per
month, whichever is higher.
This MODIFICATION OF LEASE AGREEMENT executed on the date
first above written.
CITY OF FAYETTEVILLE, ARKANSAS
Lessor
By.
Mayor
ATTEST /
By: C i-LIA,C
C t Clerk
(i',4e4t_e
LORENE O'DONNELL
Lessee