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HomeMy WebLinkAbout23-87 RESOLUTIONRESOLVIiCN KID. 23-87 S CA N N E D A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE T -HANGAR LEASES WITH CORP BUSINESS SERVICES, DAVID HENSON AND JOE BENSON, SERGEANT MARKETING, TILDEN . WRIGHT, AND GEORGE CHRISTOPHER. BE TT RESOLVED BY THE BOARD OF maxams OF THE CITY OF FAYETTEVILLE, APKAlSAS: That the Mayor and City Clerk are hereby authorized and directed to execute T -Hangar leases with Corp Business Services, David Henson and Joe Benson, Sergeant Marketing, Tilden Wright, and George Christopher. Copies of the leases authorized for execution hereby are attached hereto marked Exhibits "A", "B", "C", "D" and "E" and made a part hereof. PASSED AND APPROVED this 7 day of April ATTEST APPROVED By , 1987. { LEASE This LEASE executed this 94: day of 105;7, by and between the City of Fayetteville, Ar Kansas, hereinafter, called "Lessor" and Corp. Business Servings M(CA(MFILMWA hereinafter called "Lessee". WHEREAS, Lessor is the owner of an airport known as the Fayetteville Municipal Airport (Drake Field), herein referred to as "the Airport"; and WHEREAS, Lessor is installing at the Airport portable hangars for the purpose of storing aircraft; and WHEREAS, Lessee is the owner of an airplane,. and desires to lease a T -hangar; and WHEREAS, Lessor is willing to lease a T -hangar to Lessee. NOW, THEREFORE, in consideration of the mutual covenants contained herein the parties agree as follows: 1. Lessor leases to Lessee, and Lessee leases from Lessor, space number B-2 in aircraft hangar number "B" reflected on Exhibit v"A attached hereto and made a par€ hereof. Said T -hangar is presently located, or shall be installed by Lessor, on the airport premises. At any time during the term of this lease, Lessor shall have the right to relocate Lessee to other suitable hangar space, as it becomes available, on the Airport premises. Lessee shall be entitled to ten (10) days written notice from Lessor before any such relocation shall be made; but such relocation shall not constitute a breach of this agreement by Lessor and shall not entitle Lessee • t� terminate this agreement. Lessee further agrees that it shall only be permitted to engage in minor maintenance on the airplane stored in the building and shall not engage .in any major overhaul of the airplane within the,leased premises. 2. Subject to earlier termination as hereinafter provided, the initial term of this agreement shall be for a period of 1 year(s) commencing on the 1st day of March , 1987 , and ending on the 29th day of February , 19 88 . Lessor or Lessee may terminate this lease at any time by giving the other party 30 days written notice of termination. This agreement may be • -z- 7 • extended for up to 5 additional one year terms in accordance with the following procedure: At least 60 days prior to the scheduled termination date, Lessor shall give Lessee written notice of the monthly rent payable in the extended term; at least 30 days prior to the termina- tion date, Lessee shall give Lessor written notice if Lessee exercises this option to extend. • 3. During the term of this lease, Lessee agrees to pay Lessor for the use of the demised premises the sum of $ 110.00 per month. Said sum shall be payable in ,advance on or before the first day of each month. 4. Lessee shall provide for and supply at its expense all Janitor service with respect to the demised premises. Lessor shall pay for all utilities serving the demised premises, including, but not limited to heat, light, gas, electricity and water. 5. Lessee agrees to observe and obey all ordinances, rules and regulations promulated by Lessor with respect to use of the Airport. and the demised premises; provided, however, such ordinances, rules and regulations shall be consistent with safety and with rules, regulations and order of the Federal Aviation Administration with respect to aircraft operations at the Airport; and provided further, such rules and regulations shall not be inconsistent with the provisions of this agreement or the procedures prescribed or approved from time to time by the Federal Aviation Administration with respect to the operation of Lessee's aircraft at the Airport. 6. If the demised premises are partially damaged by fire, the elements, or other casualty, said T -hangar shall be repaired with due diligence by Lessor at its own cost and expense. If the damage is so extensive as to render the demised premises untenantable, but capable of being repaired in sixty (60) days, the T -hangar shall be repaired with due diligence by Lessor at its own cost and expense, and the rent payable hereunder shall be proportionately paid up to the time of such damage and shall thenceforth cease until such time as the T -hangar shall be fully restored. -3- • In the event the T -hangar leased hereunder is destroyed or is damaged so extensively that it cannot be repaired within sixty (60) days, this agreement may be terminated at the option of either Lessor or Lessee. In the event that the Airport is rendered unusable, there shall be a proportionate abatement of the rental provided for herein during the period that the Airport is unusable. 7. Lessee agrees to indemnify Lessor against all liability for injuries to persons or damage to property caused by Lessee's use or occupancy of the demised premises; provided, however, Lessee shall not be liable for any injury, damage, or loss occasioned by the negligence of Lessor or its agents or employees; and provided further, Lessor shall give to Lessee prompt and timely notice of any claim made or suit instituted which in any way directly or indirectly affects or might affect Lessee and Lessee shall have the right to compromise and defend the same to the extent of its own interest. 8. If Lessee fails to make any payment due hereunder within ten (10) days of the date on which such payment is due, Lessor may, at its option, terminate this agreement and take possession of such of Lessee's personal property as is reasonably necessary to secure payment of the amount due and unpaid. 9. Upon expiration or other termination of this lease, Lessee's rights to use of the demised premises shall cease, and Lessee shall vacate the premises without unreasonable delay. All fixtures, improvements, equipment, and other property brought, installed, erected or placed by Lessee on the demised premises shall be deemed to be personalty and shall remain the property of Lessee. Lessee shall have the right at any time during the term of this agreement, to remove any or all of such property from the Airport, subject, however, to Lessee's obligations to repair all damages, if any, resulting from such removal. Any and all property not removed by Lessee prior to the expiration of this lease shall thereupon become the property of Lessor and title thereto shall thereupon vest in Lessor. n • -4- • 10. Lessor may enter the demised premises at any reasonable time for any reasonable purpose necessary or incidental to the performance of its obligations hereunder. 11. Lessee shall not at any time sublet the demised premises or assign its rights under this agreement without the written consent of Lessor. No such subletting or assignment shall release Lessee from its obligations to pay the rentals set forth herein. 12. Notice as provided for herein shall be sufficient if sent by certified mail, postage prepaid, addressed as follows: Notice to Lessor: Airport Manager 113 West Mountain Street Fayetteville, Arkansas 72701 Notice to Lessee: Corp. Business Services Jaeger and Haines P. O. Box 1623 Fayetteville, AR 72702 (Phone: 521-2551) 13. This agreement shall be construed under the laws of the State of Arkansas. 14. All covenants, conditions and provides in this agreement shall extend to and bind the legal representatives, successors and assigns of the respective,parties hereto. IN WITNESS WHEREOF, the parties have executed this agreement on the day and year first above written. CITY OF FAYETIEVILLE, ARKANSAS Lessor By.Mayor 90444-4,5--) ATTEST �% By : Title: Lessee �cnk RAA°` �sr LLiz Title: c�c� :1 11 LEASE This LEASE executed this day of 19 52, by and between the City of Fayetteville, Arkansas, called "Lessor" and David Henson and Joe Benson , hereinafter, hereinafter called "Lessee". WHEREAS, Lessor is the owner of an airport known as the Fayetteville Municipal Airport (Drake Field), herein referred to as "the Airport"; and WHEREAS, Lessor is installing at the Airport portable hangars for the purpose of storing aircraft; and WHEREAS, Lessee is the owner of an airplane and desires to lease a T -hangar; and WHEREAS, Lessor is willing to lease a T -hangar to Lessee. MW, THEREFORE, in consideration of the mutual covenants contained herein the parties agree as follows: 1. Lessor leases to Lessee, and Lessee leases frau Lessor, space number B- in aircraft hangar number B reflected on Exhibit "A" attached hereto and made a part hereof. Said T -hangar is presently located, or shall be installed by Lessor, on the airport premises. At any time during the term of this lease, Lessor shall have the right to relocate Lessee to other suitable hangar space, as it becomes available, on the Airport premises. Lessee shall be entitled to ten (10) days written notice frau Lessor before any such relocation shall be made; but such relocation shall not constitute a breach of this agreement by Lessor and shall not entitle Lessee to terminate this agreement. Lessee further agrees that it shall only be permitted to engage in minor maintenance onthe airplane stored in the building and shall not engage in any major overhaul of the airplane within the leased premises. 2. Subject to earlier termination as hereinafter provided, the initial term of this agreement shall be for a period of 1 year(s) commencing on the 24th day of April , 1987 , and ending on the 23rd. day of April , 19 88 Lessor or Lessee may terminate this lease at any time by giving the other party 30 days written notice of termination. This agreement may be MICR?F0.M0 • ••it 9- -2 - extended for up to 5 additional one year terms in accordance with the following procedure: At least 60 days prior to the scheduled termination date, Lessor shall give Lessee written notice of the monthly rent payable in the extended term; at least 30 days prior to the termina- tion date, Lessee shall give Lessor written notice if Lessee exercises this option to extend. 3. During the term of this lease, Lessee agrees to pay Lessor for the use of the demised premises the sum of $ , 110.00 per month. Said sum shall be payable in advance on or before the first day of each month. 4. Lessee shall provide for and supply at its expense all janitor service with respect to the demised premises. Lessor shall pay for all utilities serving the demised premises, including, but not limited to heat, light, gas, electricity and water. 5. Lessee agrees to observe and obey all ordinances, rules and regulations promulated by Lessor with respect to use of the Airport and the demised premises; provided, however, such ordinances, rules and regulations shall be consistent with safety and with rules, regulations and order of the Federal Aviation Administration with respect to aircraft operations at the Airport; and provided further, such rules and regulations shall not be inconsistent with the provisions of this agreement or the procedures prescribed or approved from time to time by the Federal Aviation Administration with respect to the operation of Lessee's aircraft at the Airport. 6. If the demised premises are partially damaged by fire, the elements, or other casualty, said T -hangar shall be repaired with due diligence by Lessor at its own cost and expense. If the damage is so extensive as' to render the demised premises untenantable, but capable of being repaired in sixty (60) days, the T -hangar shall be repaired with due diligence by Lessor at its own cost and expense, and the rent payable hereunder shall be proportionately paid up to the time of such damage and shall, thenceforth cease until such time as the T -hangar shall be fully restored. -3- In the event the T -hangar leased hereunder is destroyed or is damaged so extensively that it cannot be repaired within sixty (60) days, this agreement may be terminated at the option of either Lessor or Lessee. In the event that the Airport is rendered unusable, there shall be a proportionate abatement of the rental provided for herein during the period that the Airport is unusable. 7. Lessee agrees to indemnify Lessor against all liability for injuries to persons or damage to property caused by Lessee's use or occupancy of the demised premises; provided, however, Lessee shall not be liable for any injury, damage, or loss occasioned by the negligence of Lessor or its agents or employees; and provided further, Lessor shall give to Lessee prompt and timely notice of any claim made or suit instituted which in any way directly or indirectly affects or might affect Lessee and Lessee shall have the right to compromise and defend the same to the extent of its own interest. 8. If Lessee fails to make any payment due hereunder within ten (10) days of the date on which such payment is due, Lessor may, at its option, terminate this agreement and take possession of such of Lessee's personal property as is reasonably necessary to secure • payment of the amount due and unpaid. 9. Upon expiration or other termination of this lease, Lessee's rights to use of the demised premises shall cease, and Lessee shall vacate the premises without unreasonable delay. All fixtures, improvements, equipment, and other property brought, installed, erected or placed by Lessee on the demised premises shall be deemed to be personalty and shall remain the property of Lessee. Lessee shall have the right at any time during the term of this agreement, to remove any or all of such property from the Airport, subject, however, to Lessee's obligations to repair all damages, if any, resulting from such removal. Any and all property not removed by Lessee prior to the expiration of this lease shall thereupon become the property of • Lessor and title thereto shall thereupon vest in Lessor. a -4- 10. Lessor may enter the demised premises at any reasonable time for any reasonable purpose necessary or incidental to the performance of its obligations hereunder. 11. Lessee shall not at any time sublet the demised premises or assign its rights under this agreement without the written consent of Lessor. No such subletting or assignment shall release Lessee frau its obligations to pay the rentals set forth herein. 12. Notice as provided for herein shall be sufficient by certified mail, postage prepaid, addressed as follows: Notice to Lessor: Airport Manager 113 West Mountain Street Fayetteville, Arkansas 72701 Notice to Lessee: David Henson Route 9, Box 37 Fayetteville, AR 72701 if sent Joe Benson and P. 0. Box 4294 Fayetteville, AR 72702 (Phone: 521-3133) (Phone: 521-7600/521-3140) 13. This agreement shall be construed under the laws of the State of Arkansas. 14. All covenants, conditions and provides in this agreement shall extend to and bind the legal representatives, successors and assigns of the respective parties hereto. IN WITNESS WHEREOF, the parties have executed this agreement on the day and year first above written. ATTEST B ATTEST By: • Title: CITY OF FAYEIIEVILLE, ARKANSAS Lessor By: Theadri r4wJ Mayor Lessee By: Title: Lessee By: 9aw. gtvwr Title: pUrxu� roatdir ni 9 LEASE This LEASE executed this day of by and between the City of Fayetteville, Aransas, hereinafter, called "Lessor" and Sergeant Marketing hereinafter called "Lessee". WHEREAS, Lessor is the owner of an airport known as the Fayetteville Municipal Airport (Drake Field), herein referred to as "the Airport"; and WHEREAS, Lessor is installing at the Airport portable hangars for the purpose of storing aircraft; and WHEREAS, Lessee is the owner of an airplane and desires to lease a T -hangar; and WHEREAS, Lessor is willing to lease.a T=hangar to Lessee. NOW, TORE, in consideration of the mutual covenants contained herein the parties agree as follows: 1. Lessor leases to Lessee,. and Lessee leases from Lessor, • space number A-2 in aircraft hangar number "A" reflected on Exhibit "A" attached hereto and made a part hereof. Said T -hangar is presently located, or shall be installed by Lessor, on the airport premises. At any time during the term of this lease, Lessor shall have the right tb relocate Lessee to other suitable hangar space, as it becomes available, on the Airport premises. Lessee shall be entitled to ten (10) days written notice from Lessor before any such relocation shall be made; but such relocation shall not constitute a breach of this agreement by Lessor and shall not entitle Lessee to terminate this agreement. Lessee further agrees that it shall only be permitted to engage in minor maintenance on the airplane stored in the building and shall not engage in any major overhaul of the airplane within the leased premises. 2. Subject to earlier termination as hereinafter provided, the initial term of this agreement shall be for a period of year(s) commencing on the 24th day of February and ending on the 23rd day of February 1 19 87, 19 88 . Lessor or Lessee may terminate this lease at any time by giving the other party 30 days written notice of termination. This agreement'may be Mla! FIEMFf V n -2- extended for up to 5 additional one year terms in accordance with the following procedure. At least 60 days prior to the scheduled termination date, Lessor shall give Lessee written notice of the monthly rent payable in the extended term, at least 30 days prior to the termina- tion date, Lessee shall give Lessor written notice if Lessee exercises this option to extend. 3. During the term of this lease, Lessee agrees to pay Lessor for the use of the demised premises the sum of $ 135 00 per month. Said sum shall be payable in advance on or before the first day of each month. 4. Lessee shall provide for and supply at its expense all janitor service with respect to the demised premises. Lessor shall pay for all utilities serving the demised premises, including, but not limited to heat, light, gas, electricity and water. 5. Lessee agrees to observe and obey all ordinances, rules and regulations promulated by Lessor with respect to use of the Airport and the demised premises; provided, however, such ordinances, rules and regulations shall be consistent with safety and with rules, regulations and order of the Federal Aviation Administration with respect to aircraft operations at the Airport; and provided further, such rules and regulations shall not be inconsistent with the provisions of this agreement or the procedures prescribed or approved from time to time by the Federal Aviation Administration with respect to the operation of Lessee's aircraft at the Airport. 6. If the demised premises are partially damaged by fire, the elements, or other casualty, said T -hangar shall be repaired with due diligence by Lessor at its own cost and expense. If the damage is so extensive as to render the demised premises untenantable, but capable of being repaired in sixty (60) days, the T -hangar shall be repaired with due diligence by Lessor at its awn cost and expense, and the rent payable hereunder shall be proportionately paid up to the time of such damage and shall thenceforth cease until such time as the T -hangar shall be fully restored. -3 - In the event the T -hangar leased hereunder is destroyed or is damaged so extensively that it cannot be repaired within sixty (60) days, this agreement may be terminated at the option of either Lessor or Lessee. In the event that the Airport is rendered unusable, there shall be a proportionate abatement of the rental provided for herein during the period that the Airport is unusable. 7. Lessee agrees to indemnify Lessor against all liability for injuries to persons or damage to property caused by Lessee's use or occupancy of the demised premises; provided, however, Lessee shall not be liable for any injury, damage, or loss occasioned by the negligence of Lessor or its agents or employees; and provided further, Lessor shall give to Lessee prompt and timely notice of any claim made or suit instituted which in any way directly or indirectly affects or might affect Lessee and Lessee shall have the right to compromise and defend the same to the extent of its awn interest. 8. If Lessee fails to make any payment due hereunder within ten (10) days of the date on which such payment is due, Lessor may, at its option, terminate this agreement and take possession of such of Lessee's personal property as is reasonably necessary to secure payment of the amount due and unpaid. 9. Upon expiration or other termination of this lease, Lessee's rights to use of the demised premises shall cease, and Lessee shall vacate the premises without unreasonable delay. All fixtures, improvements, equipment, and other property brought, installed, erected -or placed try.Lessee.on the demised premises shall be deemed to be personalty and shall remain the property of Lessee. Lessee shall have the right at any time during the term of this agreement, to remove any or all of such property frau the Airport, subject, however, to Lessee's obligations to repair all damages, if any, resulting frau such removal. Any and all property not removed by Lessee prior to the expiration of this lease shall thereupon became the property of • Lessor and title thereto shall thereupon vest in Lessor. • • -4- 10. Lessor may enter the demised premises at any reasonable time for any reasonable purpose necessary or incidental to the performance of its obligations hereunder. 11. Lessee shall not at any time sublet the demised premises or assign its rights under this agreement without the written consent of Lessor. No such subletting or assignment shall release Lessee from its obligations to pay the rentals set forth herein. 12. Notice as provided for herein shall be sufficient if sent by certified mail, postage prepaid, addressed as follows: Notice to Lessor: Airport Manager 113 West Mountain Street Fayetteville, Arkansas 72701 Notice to Lessee: Sergeant Marketing John Drake 65 Dogwood Drive Bella Vista, AR 72714 (Phone: 855-9566) 13. This agreement shall be construed under the laws of the State of Arkansas. 14. All covenants, conditions and provides in this agreement shall extend to and bind the legal representatives, successors and assigns of the respective parties hereto. IN WITNESS WHEREOF, the parties have executed this agreement on the day and year first above written. CITY OF FAYhTIEVILLE, ARKANSAS Lessor ATTEST By: • Title: By: f l iaiLL .i Myor : • • a 00 0 • • LEASE This LEASE executed this -,L— day of 19V, by and between the City of Fayetteville, A.kansas, hereinafter, called "Lessor" and Tilden (Chip) P. Wright III AI a Hugo hereinafter called "Lessee". WHEREAS, Lessor is the owner of an airport known as the Fayetteville Municipal Airport (Drake Field), herein referred to as "the Airport"; and WHEREAS, Lessor is installing at the Airport portable hangars for the purpose of storing aircraft; and WHEREAS, Lessee is the owner of an airplane and desires to lease a T -hangar; and WHEREAS, Lessor is willing to lease a T -hangar to Lessee. NOW, THEREFORE, in consideration of the mutual covenants contained herein the parties agree as follows: 1. Lessor leases to Lessee, and Lessee leases frau Lessor, space number A-7 in aircraft hangar number "A" -" `reflected sbn Ezhibft'"A" attached hereto and made a part hereof. Said T -hangar is presently located, or shall be installed by Lessor, on the airport premises. At any time during the term of this lease, Lessor shall have the right to relocate Lessee to other suitable hangar space, as it becomes available, on the Airport premises. Lessee shall be entitled to ten (10) days written notice from Lessor before any such relocation shall be made; but such relocation shall not constitute a breach of this agreement by Lessor and shall not entitle Lessee to terminate this agreement. Lessee further agrees that it shall only be permitted to engage in minor maintenance on the airplane stored in the building and shall not engage in any major overhaul of the airplane within the leased premises. 2. Subject to earlier termination as hereinafter provided, the initial term of this agreement shall be for a period of 1 year(s) commencing on the 25th day of April , 19 87 , and ending on the 24th day of April , 19 88 . Lessor or Lessee may terminate this lease at any time by giving the other party 30 days written notice of termination. This agreement may be -2 - extended for up to 5 additional one year terms in accordance with the following procedu-e• At least 60 days prior to the scheduled 1 termination date, Lessor shall give Lessee written notice of the monthly rent payable in the extended term, at least 30 days prior to the termina- tion date, Lessee shall give Lessor written notice if Lessee exercises this option to extend. 3. During the term of this lease, Lessee agrees to pay Lessor for the use of the demised premises the sum of $ 135.00 per month. Said sum shall be payable in advance on or before the first day of each month. 4. Lessee shall provide for and supply at its expense all janitor service with respect to the demised premises. Lessor shall pay for all utilities serving the demised premises, including, but not limited to heat, light, gas, electricity and water. 5. Lessee agrees to observe and obey all -and regulations promulated by Lessor -with respect to and the demised premises; provided, however, such ordinances, rules use of the Aitport ordinances, rules and regulations shall be consistent with safety and with rules, regulations and order of the Federal Aviation Administration with respect to aircraft operations at the Aitport; and provided further, such rules and regulations shall not be inconsistent with the provisions of this agreement or the procedures prescribed or approved from time to time by the Federal Aviation Administration with respect to the operation of Lessee's aircraft at the Airport. 6. If the demised premises are partially damaged by fire, the elements, or other casualty, said T -hangar shall be repaired with due diligence by Lessor at its own cost and expense. If the damage is so extensive as to render the demised premises untenantable, but capable of being repaired in sixty (60) days, the T -hangar shall be repaired with due diligence by Lessor at its own cost and expense, and the rent payable hereunder shall be proportionately paid up to the time of such damage and shall thenceforth cease until such time as the T -hangar shall be fully restored. ti -3- In the event the T -hangar leased hereunder is destroyed or is damaged so extensively that it cannot be repaired within sixty (60) days, this agreement may be terminated at the option of either Lessor or Lessee. In the event that the Airport is rendered unusable, there shall be a proportionate abatement of the rental provided for herein during the period that the Airport is unusable. 7. Lessee agrees to indemnify Lessor against all liability for injuries to persons or damage to property caused by Lessee's use or occupancy of the demised premises; provided, however, Lessee shall not be liable for any injury, damage, or loss occasioned by the negligence of Lessor or its agents or employees; and provided further, Lessor shall give to Lessee prompt and timely notice of any claim made or suit instituted which in any way directly or indirectly. affects or might affect Lessee and Lessee shall have the right to compromise and defend the same to the extent of its own interest. 8. If Lessee fails to make any payment due hereunder within • ten (10) days of the date on which such payment is due, Lessor may, at its option, terminate this agreement and take possession of such of Lessee's personal property as is reasonably necessary to secure payment of the amount due and unpaid. 9. Upon expiration or other termination of this lease, Lessee's rights to use of the demised premises shall cease, and Lessee shall vacate the premises without unreasonable delay. All fixtures, improvements, equipment, and other property brought, installed, erected or placed by Lessee on the demised premises shall _be _deemed- to be personalty and shall -remain-the property of- Lessee. Lessee shall have the right at any time during the term of this agreement, to remove any or all of such property from the Airport, subject, however, to Lessee's obligations to repair all damages, if any, resulting from such removal. Any and all property not removed by Lessee prior to the expiration of this lease shall thereupon become the property of • Lessor and title thereto shall thereupon vest in Lessor. � 4 -4- 10. Lessor may enter the demised premises at any reasonable time for any reasonable purpose necessary or incidental to the performance of its obligations hereunder. 11. Lesseeshall not at any time sublet the demised premises or assign its rights under this agreement without the written consent of Lessor. No such subletting or assignment shall release Lessee from its obligations to pay the rentals set forth herein. 12. Notice as provided for herein shall be sufficient if sent by certified mail, postage prepaid, addressed as follows: Notice to Lessor: Airport Manager 113 West Mountain Street Fayetteville, Arkansas 72701 Notice to Lessee: Tilden (Chip) P. Wright III P. 0. Drawer 1688 Fayetteville, AR 72702 (Phone: 521-7600/521-3263) 13. This agreement shall be construed under the laws of the State of Arkansas. 14. All covenants, conditions and provides in this agreement shall extend to and bind the legal representatives, successors and assigns of the respective parties hereto. IN WITNESS WHEREOF, the parties have executed this agreement on the day and year first above written. CITY OF FAYE1"lEVIr.TF, ARKANSAS Lessor 99h,xdis-n_.1 By: ocvi.c-enc) May ATTEST By:: ATTEST By: Title: Lessee By: Title: