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HomeMy WebLinkAbout45-77 RESOLUTION• • RESOLUTION NO. 4/j-;77 V A RESOLUTION AUTHORIZING AND DIRECTING THE MAYOR AND CITY CLERK TO EXECUTE A SUBLEASE AGREEMENT WITH BROADCASTING ASSOCIATES, INC. FOR THE BASEMENT OF THE BUILDING PRESENTLY LEASED BY BROADCASTING ASSOCIATES, INC. FROM FULBRIGHT INVEST- MENT COMPANY AND COMMONLY KNOWN AS THE KHOG BUILDING. BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF FAYETTEVILLE, ARKANSAS: That the Mayor and City Clerk be, and they are hereby authorized and directed to execute a sublease agreement with BROADCASTING ASSOCIATES, INC. for the basement of the building presently leased by BROADCASTING ASSOCIATES, INC. from FULBRIGHT INVESTMENT COMPANY and commonly known as the KHOG Building. A copy of said sublease agreement, marked Exhibit A, is at- tached hereto and made a part hereof. PASSED AND APPROVED THIS 1977. ATTEST: 17 DAY OF APPROVED: La-1-42-7<g:xCa MAYOR ‘1/4-11.44-41-44001-4-lr MICROFILMW. 0 ir OCT 2 I° CLERK DATE RaLL/Wir-- • SUBLEASE AGREEMENT THIS AGREEMENT OF SUBLEASE made and entered into this / day of 7).11,1 , 1977, by and between BROADCASTING ASSOCIATES, INC., hereinafter called "SUBLESSOR" and CITY OF FAYETTEVILLE, hereinafter called "SUBLESSEE", WITNESSETH: Preliminary Statement SUBLESSOR and FULBRIGHT INVESTMENT COMPANY, hereinafter called "OWNER", have heretofore executed a certain Agreement of Lease, hereinafter called "FULBRIGHT LEASE" dated April , 1977 involving certain improved real property in the City of Fayetteville, Washington County, Arkansas as described in such Lease, all of the therein described building presently being used and occupied by SUBLESSOR and the parties hereto are desirous of executing a Sublease Agreement under certain terms and conditions, as follows: 1. PREMISES: That SUBLESSOR has agreed and does hereby agree to sublease and let to SUBLESSEE a portion o f the following described real estate situated in City of Fayetteville, Washington County, Arkansas, wit: the to - A part of the East half of Lots 1, 2, 3 and 4 in Block 31 in the City of Fayetteville, Arkansas, more particularly described as an area 14 feet East and West, and 169 feet North and South to an alley, the building thereon being 14 x 140 feet, full basement, and one story of brick and concrete. 2. TERM AND RENTAL: To have and to hold a portion o f the above described premises, such portion being more particularly described in paragraph 5 hereinbelow, for a term of Two (2) years beginning on May 1, 1977, and e nding April 30, 1979, for the total cash rental of Three Thousand ($3,000.00) Dollars payable in equal monthly installments of One Hundred Twenty -Five ($125.00) Dollars on or before the first day of each and every month through- out the term of this lease. 3. MAINTENANCE: SUBLESSOR agrees to maintain or cause to be maintained at SUBLESSOR'S expense the exterior walls, roof and foundation of said leased premises. All interior maintenance of the herein subleased premises, exclusive of maintenance of plumbing, heating, wiring and air conditioning, shall be at SUBLESSEE'S expense, including painting, floor covering, walls, glass (exclu- ding damage by fire and/or extended coverage insurance) and general appearance. Maintenance of plumbing, heating, wiring and air conditioning will be paid fifty (50%) per cent by SUBLESSOR and fifty (50%) per cent by SUBLESSEE. 4. DELIVERY AT END OF LEASE: On the expiration of the term of this sublease, SUBLESSEE agrees to deliver unto SUBLESSOR the possession of said leased premises in as good order and condition as the same were received, destruction or damage by fire, storm or other casualty and ordinary wear and tear excepted. 5. FLOOR SPACE: The premises subject to this Sublease is the basement level of such building as des- cribed in Paragraph 1, containing a total of approximately 2,240 square feet. 6. SUBLETTING: That SUBLESSEE shall not have right to sublet any portion of the herein subleased premises, without first obtaining the written consent Of SUBLESSOR. 7. TAXES AND INSURANCE: SUBLESSEE shall not be liable for payment of any fire and extended coverage insurance premiums on said real estate or taxes or other assessments levied against said subleased premises during 1.• the continuance of this agreement. All assessments, taxes and insurance are the responsibility of OWNER. 8. ALTERATIONS: SUBLESSEE shall, subject. to the terms of the FULBRIGHT LEASE, have the right to modify its leased portion of the premises to suit its own needs and requirements, such alterations to be at the sole expense of SUBLESSEE. SUBLESSEE shall not make any other alterations, additions or improvements on the premises w ithout first obtaining the written consent of SUBLESSOR and all alterations, additions and improvements which shall be made shall be at the sole expense of SUBLESSEE and such improvements shall become the property of SUB- LESSOR or OWNER and shall remain on and be surrendered with the premises as a part thereof at the termination o f this lease without disturbance, molestation, or injury. Nothing contained herein shall prevent SUBLESSEE from at any time removing all office machines, studio and repair equipment, and such trade fixtures as customarily used in its business. 9. UTILITIES: That SUBLESSEE shall pay fifty (50%) per cent for all electricity, water, gas, heating, sani- tation and/or other utility charges made against said leased premises during the continuation of this Agreement as said charges shall becone due. 10. (a) RIGHT OF ENTRY: That SUBLESSEE shall have ✓ ight of entry to its portion of the building through any presently existing entrance to the basement. (b) WASHROOM: SUBLESSEE shall have free access to all washroom facilities. 11. RIGHT OF ASSIGN: That SUBLESSEE shall not have the right to assign this Sublease to any person, company or corporation. -3- " • 12. DEFAULT OF RENT, ETC.: All covenants and agree- ments herein made and obligations assumed are to be con- strued also as conditions, and these presents are upon the express condition that if SUBLESSEE shall fail to pay when due any one of the aforesaid installments of rent for a period of thirty (30) days, or should fail to perform or observe any of the covenants, agreements or obligations herein made or assumed by said SUBLESSEE, or shall become insolvent, or become bankrupt or shall make an assignment for the benefit of creditors, or if a receiver be appointed to take charge of SUBLESSEE'S affairs, then and in any of either of said events, this Sublease may be forfeited and thereby became null and void at the option of SUBLESSOR, and SUBLESSOR may, upon thirty (30) days written notice to SUBLESSEE, after the breach of any of said covenants, re-enter said premises and building or any part thereof in the name of the whole, and repossess and have the same as of SUBLESSOR'S former e state, and remove therefrom all goods and chattels not thereto properly belonging, and expel SUBLESSEE and all other persons who may be in possession of said premises and building. 13. INDEMNITY AGAINST LOSS: SUBLESSEE agrees to indemnify and save harmless SUBLESSOR against any and all claims arising from the conduct and/or management o f or from any work or thing whatsoever done by SUBLESSEE in or about the demised premises or the equipment thereof during said term, or arising from any act or negligence o f SUBLESSEE, or any of its agents, contractors or employ- ees, or arising from any accident, injury, or damage whatsoever, however caused by any act or ommission on the part of SUBLESSEE, to any person or persons, or to -4- the property of any person; persons, corporation, or corporations, occurring during said term on, in or about the subleased premises, and from and against all costs, counsel fees, expenses, and liabilities, incurred in or about any such claim or any action or proceeding brought thereon and in case any action or proceeding be brought against SUBLESSOR by reason of any such claim, SUBLESSEE, on notice from SUBLESSOR, shall resist or defend such action. Irrespective of any negligence whatsoever on the part of any party hereto, SUBLESSOR, SUBLESSEE and OWNER mutually agree to hold one another completely free and harmless from any loss or damage to one another's property caused by fire and/or explosion. This covenant shall also apply to any loss or damage caused by any peril that is, would or could be, covered by fire and extended coverage insurance and all parties mutually waive any right of subrogation that would inure to or benefit their respective insurance carriers as a result of any loss caused by the perils mentioned above. 14. COVENANTS RUN TO SUCCESSORS, ETC.: This Sub- lease shall be binding upon the respective parties hereto, their successors and assigns. 15. UNTENANTABLE CONDITION: In the event that the subleased premises shall be so damaged by fire, earthquake, the elements, or any other casualty as to be untenantable, SUBLESSEE may terminate this Sublease, and any rents paid by SUBLESSEE in advance shall be refunded on demand. If SUBLESSEE elects not to terminate, or in any case in which the subleased premises are damaged and not rendered untenantable, SUBLESSEE shall remain in possession of said premises under the terms of this Sub- lease, in which case SUBLESSEE may serve written demand -5- upon SUBLESSOFVfor the repa1ir or restoration of the sub- leased premises and SUBLESSOR agrees to forthwith make such repairs and restorations as to restore the subleased premises to their former state. If SUBLESSOR shall fail to begin the repairs or restoration of the subleased premises within twenty (20) days after such demand, or to complete such repairs or restorations with reasonable promptness, then SUBLESSEE may elect to surrender the subleased premises to SUBLESSOR, whereupon this Sublease shall terminate, or SUBLESSEE may make such repairs and restorations as it deems nec- e ssary, at SUBLESSOR'S expense. During the period that such subleased premises are being repaired or restored, the rent payable as provided in Paragraph 2 hereinabove shall be adjusted downward in an amount to be determined by dividing the total rental in effect at the time of such casualty by the total square feet in use at the time of such casualty and multiplying such rate thereby determined by the total untenantable square footage. 16. FULBRIGHT LEASE: SUBLESSOR agrees to pay the ✓ ent reserved in the FULBRIGHT LEASE and to perform and to observe SUBLESSOR'S covenants and stipulations con- tained therein so far as the same ought to be performed and observed by SUBLESSOR herein. 17. QUIET ENJOYMENT: If SUBLESSEE performs the terms of this Sublease, SUBLESSOR will warrant and defend SUBLESSEE in the enjoyment and peaceful possession of the premises during the term of this Sublease without any interruption by SUBLESSOR or by OWNER or by either o f them or any person rightfully claiming under either o f them. -6- • • 18. HOLDOVER: Any holdover at the expiration of this Subleam with the consent of SUBLESSOR, shall be on a month to month basis, which tenancy may thereafter be terminated as provided by the laws of the State of Arkansas. During such holdover tenancy, SUBLESSEE agrees to pay monthly to SUBLESSOR the same rate of rental as in effect at the time of such expiration and agrees to be bound by all the terms of this Sublease so far as the same are applicable. 19. NON -WAIVER OF BREACH: The waiving of any of the covenants of this Sublease by either party hereto shall be limited to the particular instance and shall not be deemed to waive any other breaches of such cove- nants. 20. DEFAULT BY SUBLESSOR: If SUBLESSOR or OWNER fail or neglect to perform this Sublease and the provisions of the FULBRIGHT LEASE, then SUBLESSEE may, after reason- able notice of not less than thirty (30) days, terminate this Sublease. 21. REMOVAL OF PERSONAL PROPERTY BY SUBLESSEE: SUBLESSEE shall have the right to remove all personal property, trade fixtures and office equipment, whether attached to the premises or not, PROVIDED that such may be removed without serious damage to the building or premises. All holes or damage to the building or premises caused by removal of such items shall be restored or repaired by SUBLESSEE promptly. 22. NOTICES: Except where otherwise required by statute, all notices given pursuant to the provisions of this Sublease may be sent by certified mail to the last known mailing address of the parties. IN WITNESS WHEREOF, the SUBLESSOR and SUBLESSEE have -7- • • • • executed this Sublease Agreement ATTEST: Secretary ATTEST: °(4jaw) Leattittaki STATE OF 4v tt_r1SCI5 X X COUNTY OF With140/K the date first above written. BROADCASTING ASSOCIATES, INC. By CITY OF FAYETTEVILLE /24P-sfl-c BY ACKNOWLEDGMENT On this 1(0 day of hail , 1977, before the under- signed, a Notary Public, duly commissioned, qualified and acting, within and for the said County and State," appeared in person the within named SeA4it44ar5jer and hvrcjie. Wes*hrqole to metirsonally known, who stated that they were the.44AfyQjp, &man Ck aiertk< of the CITY OF FAYETTEVILLE, and were oddly authorized in their respective capacities to execute the fore- going instrument for and in the name and behalf of said City, and further stated and acknowledged that they had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. ,71TESTIMONY WHEREOF, I ave hereunto set my hand and official 7. \'seat this do day of , 1977. 1 1. si 1 10 • • 44, 61—rC-i• /9'7c STATE OF COUNTY OF -` 4-9)1/nu, -1 NOTARY PUBLIC On this day of , 1977, before the undersigned, a Notary Public, duly commissioned, qualified and acting, within and for the said County and State, appeared in person the within named and to me personally known, who stated that they were the President and Secretary of BROAD- CASTING ASSOCIATES, INC., a company, and were duly authorized in their respective capacities to execute the foregoing in- strument for and in the name and behalf of said corporation, and further stated and acknowledged that they had so signed, executed and delivered said instrument for the consideration, -8- 1A41.-,:4. • •. -4••••••••••••r_ uses and purposes therein mentioned and set forth. IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this day of , 1977. -9- NOTARY PUBLIC