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Home My WebLink About22-86 RESOLUTION• RESOLDTI ID. 22-86 A RESOLUTION AUTHORIZING THE MAYOR AND CITY CI,FRK TO EXECUTE A LEASE AGREEMENT WITH G.S.F. MANAGEMENT CORPORATION d/b/a THE HOLIDAY INN FOR ADVERTISING DISPLAY SPACE IN THE AIRPORT TERMINAL BUILDING. Mm Mil M. BE IT RESOLVED BY THE BOARD OF DIRECTORS OF TBE CITY OF FAYETTEVILLE, ARKANSAS: That the Mayor and City Clerk are hereby authorized and directed to execute a lease agreement with G.S.F. Management Corporation d/b/a The Holiday Inn for advertising display space in the Airport Terminal Building. A copy of the lease agreement authorized for execution hereby is attached hereto marked Exhibit "A" andmade a part hereof. PASSED AND APPROVED this 4th day of 4 e;: 5 ...1: lii. ' February • , 1986. mrri MIat®FIUNED LEASE AGREEMENT This Lease Agreement executed this • day of , 19 by and between the City of Fayetteville, . GSF Management Corporation Arkan-sa§; hereihaftercalled`"Lessor",' and Agent fo -iln4ver :ty Partners Ltd. of 900 St. Paul - Suite 240; Richardson, DBA/Holiday Inn -Fayetteville Street City Texas 75080 State , hereinafter called "Lessee". WHEREAS, Lessor has available for lease advertising display space at the Fayetteville Airport Terminal Building; and WHEREAS, Lessee desires to lease certain advertising display space from Lessor. --- -- NOWT; THEREFORE,--in_considerationCof `the•mutual_coveriants contained herein the parties hereby agree as follows: 1. Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, that certain advertising display space at the Fayetteville Airport Terminal Building depicted on Exhibit "A" attached hereto and made a part hereof, which display space consists of one'(1) wall display measuring Exterior: 28" x 44" x 3" identified as exhibit space number 12 • 2. Term-: The term of this agreement shall be for a period`ofone year commencing on the .1st day of January 19 86-, and ending on the 31tday of reoember , 19 86 at 12:00 P.M. 3. Removal of Display Material: Upon termination or cancellation of this agreement, Lessee shall immediately remove all display material in a workmanlike manner. In the event Lessee fails to remove all display material within five (5) days from the.termination or cancellation date; said display material shall be deemed abandoned and shall become the property of Lessor. and Lessor shall have the right to remove and dispose of said material. 4. Maintenance: The City shall maintain and clean the display case. The City shall have the right, at its discretion, to perform necessary maintenance of and repairs to any display sign, poster, or other advertising material or exhibit in the display case in order to maintain a high standard of appearance; the cost of such maintenance or repairs. shall be paid by Lessee within fifteen (15)days from receipt of a statement therefore from Lessor. 5. No advertising. material or exhibit shall be placed in the display .space leased hereby to Lessee without the prior approval of Lessor's Airport Committee. Lessee agrees I:3 that Lessor's Airport Committee may disapprove any proposed advertising material or exhibit which Lessor's Airport •Commi.ttee determines would be detrimental to the operation of the Airport. .In the event the Airport Committee disapproves a proposed advertisement or exhibit,. the Airport Manager shall state in writing to Lessee the reasons the proposed advertisement or exhibit would be detrimental to the operation of the Airport... The Airport Committee and the Fayetteville Board of Directors shall have the right to refuse to approve any proposed advertisement; material or exhibit which is found to violate any federal, state, or local law or which is found to infringe upon any copyright or trademark. 3 6. The City shall provide police surveillance during normal Airport operating hours in order to protect Lessee's display against damage from vandalism or trespass, but Lessor shall not be liable to Lessee for any such damage. Lessor shall immediately' reportto Lessee the discovery of any.damage to Lessee's display. 7.. In the event Lessee,through no fault of its own, is deprived from using the display space leased hereby, or if the public is denied normal access to the Airport Terminal Building during regular working hours, the consideration payable Lessor by Lessee under this lease shall be adjusted downward on a pro -rata basis for the period of such deprivation or denial. Should such.deprivation or denial continue for ninety (90) calendar days .Lessee may terminate this lease as - of-the-or-ig-inal.-date,of.suchdeprivation-,or deniallby,giving. Lessor written notice of termination. 8. Consideration: As consideration for use of the demised premises, Lessor agrees to pay Lessee for the term of ,thislease the sum_,of.$ 960.00 payable in monthly installments of .$ 80.00 in advance on or before the first day of each month. If any monthly payment due Lessor is not received by the 10th day of the month Lessee shall pay a late charge equivalent to ten percent (10%) of the monthly installment due. If the monthly installment plus, late::charge,..are not received,by the..30th day of the month, this lease shall automatically be terminated and Lessee shall have'the right to remove any display material from the display space leased hereby. Upon execution of this lease agreement, Lessee shall deposit with Lessor a damage deposit in the amount of $ 80.00 Said deposit,.less'expenses incurred by Lessor torepair damage caused:by Lessee or Lessee's agents, employees, licensees, or invitees, and less costs incurred by Lessee to clean the display space leased hereby, shall be returned to Lessee upon termination or cancellation of this Agreement. 9. Lessee shall not assign, transfer, pledge, or otherwise encumber this lease without the prior written approval of Lessor's Airport Manager. Lessee shall not sublet the demised premises and shall not allow the demised. premises to be used for any purpose not authorized by this agreement, without the prior written approval of Lessor. 10. Lessee shall idemnify and hold Lessor harmless from and against any and all claims, demands, suits, judgments, costs and expenses asserted by any person or persons, including agents or employees of Lessor or Lessee, resulting trom Lessee's use of the demised. premises including, but not limited to, claims for'death.or personal injury to any person, loss or damagetoproperty, and damagesfor libel, trademark or copyright infringement, or plagiarism. In the event any material or exhibit placed in the display space leased hereby is determinedto be in violation of any federal, state or local law, Lessee shall immediately remove said material or exhibit and shall idemnify, defend and hold harmless Lessor and Lessor's employees and officials from all claims; diMagesand'penalties which may'arise therefrom. 11: Lessee shall not, on the grounds of race, color, creed, national origin, sex, or handicap, discriminate or permit discrimination against any person or group of persons in any manner prohibited by Title VI of the Civil Rights Act of 1964 and Part 21 of the Regulations of the Office of the • Secretary of Transportation as now worded or as may hereafter be amended. Lessor shall have the right to take such action as the United States government may direct to enforce this covenant. Nothing contained herein shall be construed to grant or authorize the granting of an exclusive right within the meaning of Section 308 of the Federal Aviation Act of 1958. 12. Lessor shall have the right to place, or have placed, at the Airport any advertisement or exhibit. 13. Termination by Lessor: In addition to any other right of termination contained herein, Lessor shall have the right to terminate this agreement in the event of any of the following: (a) The filing by Lessee of a. voluntary petition in bankruptcy; (b) The adjudication of Lessee as a bankrupt pursuant to bankruptcy proceedings; (c) The appointment of a receiver of Lessee's assets; (d) The divestature of Lessee's estate herein by operation of law; (e) The abandonment by Lessee of the use of the demised premises; (f) Damage from any cause to the demised premises which damage makes said premises untenantable for 90 days. 14. Termination by Lessee: Lessee may terminate this agreement by giving written notice of termination to Lessor upon the occurrence of any of the following events: ,f - .... c (a) The permanent abandonment of the Airport Terminal Building described in Exhibit "A" attached hereto and made a part hereof. (b) The lawful assumption by the United States government, or any authorized agency thereof, of the operation, control or use of the Airport in such a manner as to substantially restrict Lessee from using the demised premises for a period in excess of 90 days. • • • 6 (c) Issuanceby any court of competent jurisdiction of an injunction preventing or restraining the use of the Airport Terminal Building for a period in excess of 90 calendar days. (d) Default by the City in the performance of any covenant contained herein and the failure of the City to remedy such default within 60 days after receipt of written notice from Lessee. 15. Notices: Notices to Lessor shall be sufficient if sent by certified mail, addressed to Lessor's Airport Manager at City of Fayetteville, 113 West Mountain Street, Fayetteville, AR 72701. Notices to ra .:•shall -be. sufficient if sent by Certifiedi't'd1 addressed to Lessee at 900 St. Panl St., Suite 740. Richardson, Texas 75080 • IN WITNESS WHEREOF the parties hereto have executed this agreement on the year and date first above written. CITY OF FAYETTEVILLE, ARKANSAS, LESSOR B Mayor LESSEE /f� C1 J. c ,ca, e- / €),9-1,- !-,N . v- -t4 } cern: v ��/� By: (Z67-0-Pv c,rw,ze ` 0 (Tie) entAa