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HomeMy WebLinkAboutResolution - 070970C - Lease Amendment - United Fund Of LBK Inc - 07_09_1970RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock be and is hereby authorized and directed to execute for and on behalf of the City of Lubbock a Lease Amendment between the City of Lubbock and the United Fund of Lubbock, Inc., attached herewith which shall be spread upon the minutes of the Council and as spread upon the minutes of this Council shall constitute and be a part of this Resolution as if fully copied herein in detail, Passed by the City Council this 9th day of 1 1970. ATTEST: I i I L enia Lowe, C'ty Secretary -Treasurer APPROVED: red 0.1 Senter, Jr., City Attorn LEASE AMENDMENT WHEREAS, on the 26th day of April, 1956,. a Lease Agreement was entered into between the CITY OF LUBBOCK and THE LUBBOCK COMMUNITY CHEST, INC., covering the lease of. a building owned by the City to the a Lubbock Community Chest, Inc.; and, WHEREAS, the parties thereto, the CITY OF LUBBOCK and THE UNITED FUND OF LUBBOCK, INC., successor to LUBBOCK COMMUNITY CHEST, INC., desire to amend such Lease Agreement by adding thereto covenants and conditions which shall read as follows: WITNESSETH: Lessee agrees that it will carry a policy of fire and extended coverage insurance in the amount of or exceeding Forty Thousand Dollars ($40, 000.00) with the City of Lubbock named as co -beneficiary of the loss payable. It is understood and agreed between the parties that the City's interest of such policy shall be sixty per cent (60%) and the interest of the Lessee shall be forty per cent (40%) of the insurance proceeds. Lessee agrees that in the event of partial destruction of the building and the Lessor elects to rebuild the damaged premises, Lessor and Lessee will use all insurance proceeds to rebuild the structure and replace damaged or destroyed property in such structure. In the event of total destruction of the leased premises or in the event the Lessor determines not to rebuild the destroyed or damaged premises, the proceeds will be divided between the Lessor and Lessee in the manner stated above, namely sixty per cent (6076) to Lessor and forty per cent (40%) to the i i Lessee. The Lessee will hold the Lessor free from any liability arising l� i z z from any and all claims, losses, cost or expense arising out of injuries to persons whether or not employed by the Lessee, damage to property resulting from acts or omissions, negligence or otherwise of the Lessee or any of its agents, employes, patrons or other persons. This Agreement by the Lessee to hold the Lessor harmless shall extend to all premises used by the Lessee including but not limited to the building on such leased premises and the parking lot, except however, there shall be expressly excluded the water tower situated on the leased premises and in regards thereto the Lessor shall not expect the Lessee to assume any liability or responsibility for claims, losses, injuries or accidents involving such water tower unless such claims, losses or injuries are attributable to the acts or omissions of the Lessee, its employes, officers or agents. ENTERED INTO THIS 9TH DAY OF JULY 1970. CITY OF BOC J. H. GRANBERR , MAYOR ATTEST: f Lavenia Lo e, City Secretary- Treasurer A�O V Fred O. (Senter, Jr.,' City Attorney UNITED FUND OF LUBBOCK, INC. BY ATTEST: