HomeMy WebLinkAbout57-96 RESOLUTION•
RESOLUTION NO. S7-96
A RESOLUTION APPROVING A LEASE MODIFICATION
WITH REPUBLIC PARKING SYSTEM TO INSTALL CREDIT
CARD EQUIPMENT AND ADJUST RATES AT THE
FAYETTEVILLE MUNICIPAL AIRPORT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1. The City Council hereby approves the lease modification with Republic
Parking System to install credit card equipment and adjust rates at the Fayetteville Municipal
Airport. A copy of the lease is attached hereto marked Exhibit "A" and made a part hereof.
PASSED AND APPROVED this 7th day of M.y , 1996.
ATTEST:
By:
Traci Paul, City Clerk
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MODIFICATION TO LEASE
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REPUBLIC PARKING SYSTEM OF CHATTANOOGA, TN
This AGREEMENT made this day of M a y , 1996,
by and between the City of Fayetteville, Arkansas, hereinafter called "Lessor", and Republic
Parking System, hereinafter called "Lessee".
WHEREAS, Lessor and Lessee entered into a Lease Agreement hereinafter called
"Lease" dated Apnl 17, 1990 for a five year term commencing October 1, 1990 and executed
an additional five year option, the term for said option commencing October 3, 1995, and
WHEREAS, the parties desire to modify the aforesaid Lease Agreement to provide
additional services to the.public_by installing credit card equipment and deducting those operating
expenses from the gross receipts and capture additional potential revenues,
NOW THEREFORE, THE PARTIES MUTUALLY AGREE AS FOLLOWS:
1. Paragraph 10 of the Lease was Modified December 21, 1993, and shall be again
modified to reflect the following changes in short term, long term and monthly permit rates:
SHORT TERM:
0 - 20 minutes $ .50
Each add] 20 minutes .50
Maximum each 24 hours 5.75
LONG TERM:
0 - 1 hour
Each add'l hour
Maximum each 24 hours
$ 2.00
1.00
4.50
MONTHLY PERMIT PARKING $ 40.00
The modified rates listed above will go into affect on June 1, 1996.
IN WITNESS WHEREOF, the parties have executed this Modification of Lease on the day and
year first written above.
fAYErr
CITY OF YETTE ILLE, ARKANSAS
By:
rayor
LESSEE
By:
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