HomeMy WebLinkAbout21-87 RESOLUTIONRESOLUTION NO. 77-R7
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK
TO EXECUTE A LEASE WITH ARKANSAS AIR MUSEUM FOR
THE OLD WHITE HANGAR AT DRAKE FIELD.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF FAYEITEVILLE,
ARKANSAS:
That the Mayor and City Clerk are hereby authorized and directed
to execute a lease with Arkansas Air Museum for the Old White Hangar
at Drake Field. A copy of the lease authorized for execution hereby
is attached hereto marked Exhibit "A" and made a part hereof.
PASSED AND APPROVED this 17 day of M, -ch , 1987.
•
•
By:
Ma or
-(/J)
FAYETTEVILLE
AIRPORT DEPARTMENT
THE CITY OF FAYETTEVILLE, ARKANSAS
February 19, 1997
N. W. Arkansas Air Museum
Attn: John Kalagias, Director
4290 S. School
Fayetteville, AR. 72701
RECEIVED MAR 1 0 1997
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3 -/9 -97
Lease
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41CROFILMED
;RE-�OPTSON;ARKANSAS3AIRMUSEUM_LEASE
MARCH 19, 1997 TO MARCH 18, 2007
Dear Mr. Kalagias:
In accordance with your Lease
exercise your Lease Option #1
Museum Lease for ten additional
per year.
Agreement, at this time you may
to renew your N. W. Arkansas Air
years at the rental rate of $1.00
If you wish to renew the above referenced lease, please indicate by
signing below. Rental will remain the same. Please keep a copy
and return the original to the Airport Manager's Office at the
address listed below.
4500 S. School, Suite F
Fayetteville, Arkansas 72701
Your prompt response will be greatly appreciated.
Sincerely,
.
Dale Frederick
Airport Manager
DF/rr
ssee) Name ,&7Title
(Date)
4500 SOUTH SCHOOL AVENUE, SUITE F • AIRPORT TERMINAL BUILDING • FAYETTEVILLE, AR 72701
PHONE 501-521-4750 Ext. 6 • FAX 501-521-1735
LEASE
This LEASE executed this 19 day of March
, 1987
by and between the City of Fayetteville, Arkansas, hereinafter called
"Lessor" and Arkansas Air Museum, an Arkansas nonprofit corporation,
hereinafter called "Lessee".
WHEREAS, Lessor is the owner of a structure located at the Fayette-
ville Municipal Airport and commonly referred to as the "Old White
Hangar"; and
WHEREAS, Lessor has renovated said structure for use as an air
museum; and
WHEREAS, Lessee has been incorporated to operate an air museum
at the Fayetteville Municipal Airport for historical and educational
purposes; and
WHEREAS, the purpose of this agreement is to set forth the terms
and conditions under which Lessee shall operate an air museum in the
Old White Hangar at the Fayetteville Municipal Airport.
NOW, THEREFORE, Lessor and Lessee hereby agree as follows:
1. Lessor hereby leases to Lessee and Lessee hereby leases
from Lessor the Old White Hangar at the Fayetteville Municipal Airport
which property is more particularly described in Exhibit "A" attached
hereto and made a part hereof.
2. The term of this lease shall be 10 years from the execution
date hereof. Lessee shall have the option of extending this lease
for two (2) additional terms of ten (10) years each. Said option
shall be exercised by Lessee giving Lessor written notice at least
90 days prior to the termination date of the original term or extended
term.
3. Lessee shall pay annual rent of $1.00 per year to Lessor.
4. Lessee shall use the demised premises for the sole purpose
of operating an air museum exclusively for historical and educational
purposes and shall not use or sublet said premises for any other purpose
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without the prior written consent of Lessor. Said museum shall be
open to the general public and Lessee shall be allowed to charge reasonable
fees for admission.
5: During the first two (2) years of this lease, Lessor shall
at all times maintain the exterior of the demised premises and all
mechanical equipment in good condition which condition shall be substan-
tially the same as existed on the execution date hereof; and, Lessor
shall make, at Lessor's expense, all repairs necessary to so maintain
the exterior of said structure and said equpment. Thereafter, Lessee
shall make all necessary exterior and mechanical repairs at Lessee's
expense. Lessee shall at all times maintain the interior of the demised
structure in good and clean condition.
6. During the first six (6) months of this lease, Lessor shall
pay all utilities serving the demised premises including, but not
limited to, water, sewer, sanitation, electricity and natural gas
but excluding telephone service. Thereafter, Lessee shall pay all
such expenses.
7. During the term of this lease, Lessee shall pay all custodial
.expenses. -
8. During the term of this lease, Lessor shall at all times
maintain in full force and effect fire and extended peril property
-insurance in as minimum amount of $ .5301ot. 01) . Lessee shall
be named as a co-insured to provide insurance coverage for the damage,
destruction or theft of aircraft located on the demised premises.
Lessee shall pay the premium for the contents coverage. Lessee shall
at all times maintain a tenant's insurance policy to cover the damage,
destruction or theft of all other contents. In the event of damage
or destruction of the demised premises caused by an insured peril,
Lessor shall cause said structure to be repaired or replaced to the
extent that insurance proceeds are available but shall not be required
to expend funds frau any other source to repair or replace said structure.
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IN WrDIESS MIERE]OF, the parties have executed this lease on the
date first above written.
A1TLST
AIThST
MMM
CITY OF FAYETTEVILLE, ARKANSAS
Lessor
By
or