HomeMy WebLinkAbout68-87 RESOLUTIONIOC
RESOLUTION NO.
68-87
A RESOLUTION AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE A MODIFICATION TO A CAR
RENTAL BOOTH LEASE WITH HART LEASING, INC.
d/b/a EXPRESS RENT -A -CAR TO ALLOW A MONTHLY
CREDIT FOR OVERFLOW PARKING SPACES CONSTRUCTED
BY LESSEE.
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 a modification to the City's car rental booth
lease with Hart Leasing, Inc., d/b/a Express Rent -a -Car to
authorize a monthly credit of $35.36 for overflow parking spaces
constructed by lessee. A copy of the modification authorized for
execution hereby is attached hereto marked Exhibit,"A" and made a
part hereof.
IL
PASSED AND APPROVED this 15th day of September , 1987.
APPROVED
By: r LI �1 9--44aa----/
Mayoor 0
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MODIFICATION OF LEASE AGREEMENT
This AGREEMENT made this day of
1987, by and between the City of Fayetteville, Arkansas, herein-
after called "Lessor", with Hart Leasing d/b/a Express Rent-A-Car,
hereinafter called "Lessee".
WHEREAS, Lessor and Hart Leasing d/b/a Express Rent-A-Car
entered into a lease agreement dated March 26, 1987, which is
incorporated herein by reference thereto; and
WHEREAS, the parties desire to modify the aforesaid lease
agreement.
NOW, THEREFORE, THE PARTIES MUTUALLY AGREE AS FOLLOWS:
1. Paragraph 7 of said lease is modified by amending
subparagraph (b) to read:
are
are
(b). The monthly rental for the paved overflow spaces
within. said parking area shall be credited to
Lessee until such time as the total amount credited
equals Lessee's capital expenditure. No interest
shall accrue on any amount credited.
3. All provisions of the
hereby modified to conform
to be and shall continue in
lease are incorporated herein and
herewith but in all other respects
full force.
IN WITNESS WHEREOF, the parties have executed this Modifica-
tion of Lease on the day and year first above written.
ATTEST
By:
City Clerk
ATTEST
By:
Title:
CITY OF FAYETTEVILLE, ARKANSAS
By:
Ma or
Lessee
By:
Title:
13.11