HomeMy WebLinkAbout92-92 RESOLUTION•
RESOLUTION NO. 92-92
A RESOLUTION CONSENTING TO THE ASSIGNMENT OF
LEASE AGREEMENT.
WHEREAS, on the 16th day of October, 1990, City of
Fayetteville, Arkansas, and Fourten South Broadway Corporation, a
Delaware Corporation (the "Tenant"), executed a Lease Agreement
whereby tenant leased 180 parking spaces located in a multi-level
parking deck located adjacent to the Fayetteville Hilton Hotel.
WHEREAS, Fourten South Broadway Corporation, as the owner of
the land, buildings and personal property comprising the
Fayetteville Hilton Hotel Ventures Limited Partnership to purchase
the hotel; and
WHEREAS, it is the intention of Fayetteville Hotel Ventures
Limited Partnership to operate the purchased improvements as a
hotel; and
WHEREAS, in order for the sale of the Hotel to be consumated
it is necessary for the City to consent to the assignment of the
Lease to Fayetteville Hotel Venture Limited Partnership; and
NSEREAs, the Tenant has presented to this meeting the proposed
Assignment of Leasehold Interest and has requested the consent of
the City to such assignment pursuant to paragraph 20 of the Lease.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
CITY FAYETTEVILLE, ARKANSAS.
Section 1. That the pursuant to paragraph 20 of the lease
dated 16th day of October, 1990 the City hereby consents to and
approves the tenant assigning all its right, title and interest in
the lease to Fayetteville Hotel Ventures Limited Partnership.
Section 2. That this Resolution shall be effective
immediately upon its passage.
PASSED AND APPROVED this 16th day of June , 1992.
APPRO• 1
By: • .i9 fis7 --
Mayor
ATTEST:
By:
(seal)
n
e sauna.)
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CERTIFICATE
The undersigned, City Clerk of the City of Fayetteville,
Arkansas, hereby certifies that the foregoing is a true and perfect
copy of a Resolution duly adopted by the Board of Directors of the
City of Fayetteville, Arkansas at a regular session thereof held at
the regular meeting place of the Board of Directors at 7:30
o'clock R.n., on the 16th day of June , 01992.
GIVEN under my hand and seal on this td77° day of June, 1992.
(seal)
,.L a}°. ..d.
TV CLERK
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RESOLUTION NO.
A RESOLUTION CONSENTING TO THE
ASSIGNMENT OF LEASE AGREEMENT
WHEREAS, on the 16th day of October, 1990, City of
Fayetteville, Arkansas (the "City") and Fourten South Broadway
Corporation, a Delaware Corporation (the "Tenant"), executed a
Lease Agreement (the "Lease") whereby tenant leased 180 parking
spaces located in a multi-level parking deck located adjacent to
the Fayetteville Hilton Hotel.
WHEREAS, Fourten South Broadway Corporation, as the owner
of the land, buildings and personal property comprising the
Fayetteville Hilton Hotel (the "Hotel"), has entered into a
contract of sale with Fayetteville Hotel Ventures Limited
Partnership to purchase the hotel; and
WHEREAS, it is the intention Fayetteville Hotel Ventures
Limited Partnership to operate the purchased improvements as a
hotel; and
WHEREAS, in order for the sale of the Hotel to be
consummated it is necessary for the City to consent to the
assignment of the Lease to Fayetteville Hotel Ventures Limited
Partnership; and
WHEREAS, the Tenant has presented to this meeting the
proposed Assignment of Leasehold Interest and has requested the
consent of the City to such assignment pursuant to paragraph 20 of
the Lease;
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NOW THEREFORE, BE IT RESOLVED by the Board of Directors
of the City of Fayetteville, Arkansas:
Section 1. That pursuant to paragraph 20 of the Lease
dated the 16th day of October, 1990 the City hereby consents to and
approves the tenant assigning all its right, title and interest in
the Lease to Fayetteville Hotel Ventures Limited Partnership.
Section 2. That this Resolution shall be effective
immediately upon its passage.
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ADOPTED: APPROVED:
ATTEST:
CITY CLERK
(SEAL)
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Sponsor:
CERTIFICATE
YORCiffrl�•�j'.�
YOR 0
The undersigned, City Clerk of the City of Fayetteville,
Arkansas, hereby certifies that the foregoing is a true and perfect
copy of a Resolution duly adopted by the Board of Directors of the
City of Fayetteville, Arkansas at a regular session thereof held at
the regular meeting place of the Board of Directors at
o'clock .m., on the day of , 1992.
GIVEN under my hand and seal on this day of
December, 1992.
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(SEAL)
bialirar 2
CITY CLERK
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ASSIGNMENT OF LEASEHOLD INTEREST
For the sum of One Hundred Dollars ($100.00), and other good
and valuable considerations, the receipt of which is hereby
acknowledged, the undersigned, Fourten South Broadway Corporation,
a Delaware Corporation, hereinafter referred to as Assignor, does
hereby assign, transfer and convey to Fayetteville Hotel ventures
Limited Partnership, a Corporation, hereinafter referred
to as Assignee, all its right, title and interest in and to the
Lease Agreement dated the 16th day of October, 1990, by and between
City of Fayetteville, Arkansas and Assignor, a copy of which is
attached hereto, relating to real property more particularly
described as:
A part of Block Numbered Fifteen
(15) in the original plat of the
City of Fayetteville, Arkansas,
described as follows: Beginning at
a point 127 feet west of the
northeast corner of said Block
fifteen; and running thence west 177
feet; thence south 206 feet; thence
east 177 feet; thence north 206 feet
to the place of beginning.
Assignee in accepting the foregoing Assignment, as of the date
of the execution of this Assignment, assumes and agrees to perform
all the terms, conditions, covenants and agreements of said lease
on the part of the tenant to be performed. Assignor hereby
covenants with Assignee that it will warrant and defend its right,
title and interest as tenant in said real property until
termination of the lease against all claims whatever, subject to
any easements, right-of-way and restrictions of record.
rani..... 1
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IN WITNESS WHEREOF, Assignor and Assignee have executed this
Assignment of Leasehold Interest this day of
ATTEST:
STATE OF
)
COUNTY OF )
SS.
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ASSIGNOR:
, 1992.
FOURTEN SOUTH BROADWAY
CORPORATION
ASSIGNEE:
FAYETTEVILLE HOTEL VENTURES
LIMITED PARTNERSHIP
ACKNOWLEDGMENT
On this day of , 1992, before me, a Notary
Public, duly commissioned, qualified and acting, within and for the
said County and State, appeared in person the within named
and
to me personally well known, who stated that they were the
and of FOURTEN SOUTH BROADWAY
CORPORATION, and were duly authorized in their respective
capacities to execute the foregoing instrument for and in the name
and behalf of said corporation, and further stated and acknowledged
that they had so signed, executed and delivered said foregoing
instrument for the consideration, uses and purposes therein
mentioned and set forth.
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IN TESTIMONY WHEREOF, I have hereunto set my hand and official
seal this day of , 1992.
My commission expires:
2
NOTARY PUBLIC
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ACKNOWLEDGMENT
STATE OF
) SS.
COUNTY OF }
On this day of
Public, duly commissioned, qualified
said County and State, appeared
and
, 1992, before me, a Notary
and acting, within and for the
in person the within named
to ma personally wall known, who stated that they ware the
and of Fayetteville Hotel Ventures
Limited Partnership, a corporation, and were duly authorized in
their respective capacities to execute the foregoing instrument for
and in the nage and behalf of said corporation, and further stated
and acknowledged that they had so signed, executed and delivered
said foregoing instrument for the consideration, uses and purposes
therein mentioned and set forth.
IN TESTIMONY WHEREOF, I have hereunto set ay hand and official
seal this day of , 1992.
My commission expires:
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rmrtir...g 3
NOTARY PUBLIC