HomeMy WebLinkAbout25-82 RESOLUTION•
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RESOLUTION NO. c2� -Sov;Imm"
A. RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE AN ASSIGNMENT TO FAYETTEVILLE CITY HOSPITAL OF
THE CITY'S LEASE AGREEMENT WITH MCILROY BANK & TRUST
UNDER WHICH HOSPITAL IMPROVEMENTS ARE BEING FINANCED.
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 an assignment to Fayetteville City
Hospital of the City's lease agreement with Mcllroy Bank &
Trust under which hospital improvements are being financed.
A copy of the assignment authorized for execution hereby is
attached hereto, marked Exhibit "A;; and made a part hereof.
PASSED AND APPROVED this c& day of
ATTEST:
CITY. CLERK
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APPROVED
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ASSIGNMENT OF LEASE
STATE OF ARKANSAS
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COUNTY OF WASHINGTON
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The City of Fayetteville, Arkansas, in consideration of
One Dollar ($1.00), and other valuable consideration, the
receipt of which is hereby acknowledged does hereby assign
and transfer to Fayetteville City Hospital, an Arkansas non-
profit corporation, all of the City's rights, other than the
right of termination, and all of the City's obligations,
other than the obligation to pay basic monthly rent, under a
certain lease agreement dated December 15 , 1981, executed
and delivered to the City of Fayetteville, Arkansas, by
Mcllroy Bank & Trust, a copy of which lease is attached
hereto, marked Exhibit "A", and made a part hereof as if set
out herein word for word. This assignment shall be subject
to all of the terms and conditions contained in said lease
agreement.
CITY OF FAYETTEVILLE, ARKANSAS
By
MAYOR
‘24.‘a l'4147/#(7
In consideration of the above assignment Fayetteville
City Hospital, an Arkansas non-profit corporation, hereby
assumes all obligations, except the obligation to pay basic
monthly rent, of the City of Fayetteville under the lease
attached hereto marked "Exhibit A" and made a part hereof;
and, Fayetteville City Hospital hereby agrees to indemnify
the City of Fayetteville and hold the City harmless for any
EXHIBIT A
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and all expenses incurred under, or as a result of, said
lease, other than expenses for basic monthly rent.
DATED: This 2nd day of February , 1982.
ATTEST: •
(Title)
FAYETTEVILLE CITY HOSPITAL
By
G .
(Title)
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