HomeMy WebLinkAbout42-87 RESOLUTIONRESOLUTION NO.
42:187
A RESOLUTION AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE LEASES FOR ADVERTISING SPACE,
DIRECT PHONE SERVICE, AND T -HANGAR SPACE AT
DRAKE FIELD.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1. That the Mayor and City Clerk are hereby
authorized and directed to execute leases with the Mountain Inn
and Mid-America Inn for advertising display space at the airport
terminal building. Said leases shall be in the form of the
existing leases and shall provide for a monthly rent of $80.00 and
a damage deposit of $80.00.
Section 2. That the Mayor and City Clerk are hereby
authorized and directed to execute a lease with Mid-America Inn
for direct phone service at the airport terminal building. Said
lease shall be in the form of existing direct phone service leases
and shall provide for monthly rent of $20.00 and a damage deposit
of $50.00.
Section 3. That the Mayor and City Clerk are hereby
authorized and directed to execute T -hangar leases with Gary
Johnson, Chandler Equipment, James T. Bell, Jr., Ron Sherwood and
Joe Rouse. Said leases shall be in the form of the existing T -
hangar leases and shall provide for monthly rent of $110.00 per
month for Gary Johnson, Chandler Equipment, Ron Sherwood and Joe
Rouse and $135.00 per month for James T. Bell, Jr.
PASSED AND APPROVED this , ,day of June
APPROVED
By: 727
Mayor
'•40.4.S
4- S- •
• .
.11ITESWC*
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Ht ;Clerk
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:
4
, 1987.
90itaitt„,
LEASE
This LEASE executed this
day of
<0. 7 MICROFILMtD
•
1918/ , by and between the City of Fayetteville, Arkansas, hereinafter,
called "Lessor" and Gary Johnson
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 pu pose 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 patties agree as follows:
1. Lessor leases to Lessee, and Lessee leases from Lessor,
space number
A-9
in aircraft hangar number
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 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
Mey
year(s) commencirg on the 1st day of , 1987 ,
and ending on the 30th day of April , ____•
or
or Lessee may terminate this lease at any time by giving the other
party 30 days written notice of termination. This agreement may be
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 t� 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 theAi port; andprovided 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 an 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.4hangar shall be fully restored.
Leasing twin engine space ($135 00) at $110 00 per month until single
engine space becomes available. When single engine space becomes avail-
able, Lessee shall move to that space, if Lesseeshes to continue leas-
ing twin engine space, rent will increase to $135.00 per month.
•
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In the event the ILhangar 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 touse 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
Le 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.
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•
10. Lessor may enter the demised premises at any reasonable
time for any reasonable put se 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:
Gary Johnson
2356 E. Juneway Terrace
Fayetteville, AR 72701
Phone: 521-4586 /w0rk 4562592
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 FAYETTEVILLE, ARKANSAS
Lessor
Ma or
ATTE3;00,001,e,
By:
Ci y Clerk
ATTEST
By:
Title:
By
Lessee
By:
Title:
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LEASE Ammorar
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MICROFILMW
This LEASE AGMUMNT executed this 26th day of May
19 87 by and between the City of Fayetteville, Arkansas, hereinafter
Federal AssetsDisposition Association, agent for as
called "Lessor", and ReC,-elyek,gok:LibertycFedet-al savinga"&786n,,49.4 mid America Inn
hereinafter called "Lessee".
WHEREAS, Lessor has available for lease at the Fayetteville Airport
Terminal Building space for a direct airport-hotel/motel telephone:
WHEREAS, Lessee desires to lease said Space from Lessor.
NOW, THEREFORE, in consideration of the mutual covenants contained
herein the parties hereby_agree as follows:
1. Lessor hereby leases to Lessee, and Lessee hereby leases
from Lessor, that certain air-hotel/motel direct phone service at
the Fayetteville Airport Terminal Building depicted on Exhibit "A"
attached hereto and made a part hereof. Said space consists of one
5
section identified as direct phone space number
•
2. Lessee agrees that its direct phone accompanying advertisement
will measure 7" x 4"
3. Term. The initial term of this agreement shall be for a
period of one year commencing on the firaday of VS/f
, 19 81
19 ill and ending on the WI -I -day of
at 12:00 p.m. This agreement may be extended for up to 5 additional
one year terms in accordance with the following ptucedure. 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 termination date, Lessee shall
give Lessor written notice if Lessee exercises this option to extend.
4. Removal of direct phone and accompanying advertisement:
Upon termination or cancellation of this agreement, Lessee shall imme-
diately remove the direct phone and accompanying advertisement in
a workmanlike manner. In the event Lessee fails to remove its direct
phone and advertisement within five (5) days from the termination
or cancellation date, said direct phone and advertisement shall be
•
deemed abandoned and shall become the property of Lessor and Lessor
shall have the right to remove and dispose of said material.
5. Maintenance: The City shall maintain and clean the direct
phone carrousel. The City shall have the right, at its discretion,
to perform necessary maintenance of any repairs to the direct phone
and accompanying advertisement in order to maintain a high standard
of appearance; the cost of such maintenance of repairs shall be paid
by Lessee within fifteen (15) days from receipt of a statement therefore
from Lessor.
6. The direct phone and accompanying advertisement shall not
be placed on the direct phore carrousel leased hereby to Lessee without
the prior approval of Lessor's Airport Committee. Lessee agrees that
Lessor's Airport Committee may disapprove any proposed phone style
and/or advertising material which Lessor's Airport Committee determines
would be detrimental to the operation of the Airport. In the event
the Airport Cammittee disapproves a proposed phone style and/or adver-
tisement, the Airport Manager shall state in writing to Lessee the
reasonstheproposedphonestyle and/or advertisementwouldte detrimental
to the operation of the Airport. The Airport Committee and the Fayette-
ville Board of Directors shall have the right to refuse to approve
any proposed phone style and/or advertisement, which is found to violate
any federal, state, or local law or which is found to infringe upon
any copyright or trademark.
7. The City shall provide random surveillance during normal
Airport operation hours in order to protect Lessee's direct phone
carrousel space against damage from vandalism or trespass, but Lessor
shall not be liable to Lessee for any such damage. Lessor shall imme-
diately report to Lessee the discovery of any damage to Lessee's carrousel
space.
8. In the event Lessee, through no fault of its own is deprived
from using the direct phone carrousel 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
4f.
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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 original date of such deprivation or denial by giving Lessor
written notice of termination.
9. Consideration': As consideration for use of the demised premises
Lessee agrees to pay Lessor for the term of this lease the sum of
$ 80.00
per month/or $ 20.00 per month if Lessee leases
an advertising space in the terminal building (whichever is applicable)
payable 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 (10) percent
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
the direct phone and accompanying advertisement from the direct phone
carrousel space leased hereby.
. Upon execution of this lease agreement, Lessee shall deposit
with Lessor a damage deposit in the amount of $ 50.00 . Said
deposit, less expenses incurred by Lessor to repair damage caused
by Lessee or Lessee's agents, employees, licensees, or invitees, and
less costs incurred by Lessor to clean the display space leased hereby,
shall. be returned to Lessee upon termination or cancellation of this
agreement.
10. 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.
11. Lessee shall indemnify and hold Lessor harmless tram and
against any and all claim's, demands, suits, Judgments, costs and expenses
asserted by any person or persons, including agents or employees of
irr I
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•
Lessor or Lessee, resulting from Lessee's use of the demised premises
including, but not limited to, claims for death or personal injury
to any person, loss or damage to property, and damages for libel,
trademark or copyright infringement, or plagiarism. In the event
any material or exhibit placed in the display space leased hereby
is determined tote in violation of any federal, state or local law,
Lessee Shall immediately remove said material or exhibit and shall
indemnify, defend and hold harmless Lessor and Lessor's employees
and officials from all claims, damages and penalties which may arise
therefrom.
12. 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. Lessee 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.
13. Lessee shall have the right to place, or have placed, at
the Airport any advertisement or exhibit.
14. 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 divestiture 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.
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15. Termination by Lessee: Lessee may terminate this greement
by giving written notice of termination to Lessor upon the occurrence
of any of the following events:
(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.
(c) Issuance byanycourt of competent jurisdictionof 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.
16. Notices: Notices to Lessor shall be sufficient if sent
by certified mail, addressed to Lessor's Air rt Manager at 113 West
Mountain Street, Fayetteville, Arkansas 72701. Notices to Lessee
shall be sufficient if sent by certified mail addressed to Lessee
at Mid America Inn, 2980 N. College Avenue, Fayetteville, AR 72701
IN WITNESS WHEREOF the parties hereto have executed this agreement
on the year and date first above written.
ATTEST
By:
ATTEST
By:
Title
CITY OF FAYELLEVILLE, ARKANSAS
Lessor
BY: ‘17-42414d
Mayor
Lessee
By:
Title:
•
8"
Pkone_
17"
Figure 1.
Restaurant
Concourse to
Baggage Claim
1.
-7
•
Individual airport-hotel/motel direct
phone space.
431/2"
(entire carrousel houses 8 individual sections)
Carrousel as seen if looking down. from
the top
7
6/
\ 8
1
Direct
phone spaces nuMbered 1-8.
Figure 2.
)1
Airport manager's offices Baggage Claim
EXHIBIT "A"
•
MICROFILMED
•
LEASE AGREEMENT
This LEASE AGREEMENT" executed this 26th day of May
19 87 , by and between the'City of Fayetteville, Arkansas, hereinafter
Federal Asset Disposition Association, agent for F.S.L.I.C., as
called "Lessor", and Recelyer‘,fpr; Liberty Federal Savings & Loan, dba Mid America Inn
of
Fayetteville, Arkansas 72701
, 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.
NOW, THEREFORE, in consideration of the mutual covenants 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
26":x 44" x
display measuring
14
number
•
identified as exhibit space
2. Term. The initial term of this agreement shall be for a
period of one year commencing on the 3rd day of \ August
19 87 , and ending on the 2nd day of August , 19 88
v.
at 12:00 p.m. This agreement may be 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 termination date, Lessee shall
give Lessor written notice if Lessee exercises this option to extend.
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
-ow
-2 --
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 that Lessor's Airport Committee
may disapprove any proposed advertising material or exhibit which
Lessor's Airport Committee 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.
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 report to
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
aortal 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 original date of such deprivation or denial by 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 this Lease 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 rertxwe 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 to repair 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 indemnify and hold Lessor harmless from and
against any and all claims, demands, suits, judgments, costs and expenses
asserted by any person orjersons, including agents or employees of
Lessor or Lessee, resulting from Lessee's use of the demised premises
including, but not limited to, claims for death or personal injury
to any person, loss or damage to property, and damages for libel,
trademark or copyright infringement, or plagiarism. In the event
any material or exhibit placed in the display space leased hereby
is determined to be in violation of any federal, state or local law,
Lessee shall immediately remove said material or exhibit and shall
indemnify, defend and hold harmless Lessor and Lessor's employees
and officials from all claims, damages and 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 goverment 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 divestiture 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:
(a) The permanent abandonment of the Airport Terminal Building
described in Exhibit "A" attached hereto and made a part
hereof.
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(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.
(c) Issuance by anycourt 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 113 West
Mountain Street, Fayetteville, Arkansas 72701. Notices to Lessee
shall be sufficient if sent by, certified mail addressed to Lessee
at Mid AmericallInn, 2980 N. College Avenue, Fayetteville, AR 72701
14 WITNESS WHEREOF the parties hereto have executed this agreement
on the year and date first above written.
ATTEST
By:
ATTEST
By: /f/1
Title:
CITY OF FAYETTEVILLE, ARKANSAS
Lessor
By: 7Natierd Co.? A/Atli
Lessee
By: citer_
Title:
I
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LEASE AGFEEMENT
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This LEASE AGREEMENT executed this /j day of AMU"
19(7 , by and between the City of Fayetteville, Arkansas, hereinafter
called "Lessor", and horthen BankHanaTrust Aba/MOuntain Inn
of 21 South College Avenue Fayetteville; AR 72701 , hereinafter
called "Lessee".
WEENEAS, 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.
NOW, TEPEFORE, in consideration of the mutual covenants contained
herein the parties hereby agreel 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 spade consists of one (1) wall
display measuring
13
number
exterior:. 28"x 44"
•
identified as exhibit space
2. Term. The initial term of this agreement Shall be for a
February
period of one year commencing on the 4th day of .
19 -87 , and ending on the 3rd day .of February , 19 88
at 12:00 p.m. This agreement may be 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 termination date, lessee shall
give Lessor written notice if Lessee exercises this option to extend.
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 everit LeSsee fails to remove aliS.
display material within five (5) days from the termination or cancellation
•
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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 AirportCommittee. Lesseeagrees that Lessor'sAirportCommittee
may disapprove any proposed advertising material or exhibit which
lessor's Airport Comtittee determines would be detrimental to the
operation of the Airport. In the event the AirportCommittee 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.
6. The City shall provide police su-veillance 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 report to
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