HomeMy WebLinkAboutResolution - 4939 - Consent To Assignment & Attornment-Hallmark & Associates Inc - 09_14_1995Resolution No. 4939
September 14, 1995
Item #11
RESOLUTION
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 Consent to Assignment and Attornment of a
Lease Agreement by and between the City of Lubbock and Hallmark & Associates, Inc., attached
hereto, 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
ATTEST:
Betty N? fohnso3 City Secretary
APPROVED AS TO CONTENT:
Aviation Manager
APPROVED AS TO FORM:
mt.-44 Y-C�
Harold Willard, Assistant City Attorney
HW : da/ccdocs/hl lmrk.re s
August 9, 1995
Resolution No. 4939
September 14, 1995
Item #11
CONSENT TO ASSIGNMENT
AND ATTORNMENT
Lessee: HALLMARK & ASSOCIATES, INC., a Texas Corporation
Lessee's Mailing Address: P. O. Box 53516, Lubbock, Lubbock County, Texas 79453
Lessor: CITY OF LUBBOCK, TEXAS
Lessor's Mailing Address: P. O. Box 2000, Lubbock, Texas 79457
Lender: NORWEST BANK TEXAS, N.A.
Lender's Mailing Address: P. O. Box 1241, Lubbock, Texas 79408
Loan Documents: Real Estate Lien Note in the original principal sum of
$1,364,000.00, all Deeds of Trust, Assignments of Leases and
Rents, Loan Agreements, Guaranty Agreements, Security
Agreements, Assignment of Construction Contracts, Assignment
of Architectual Contract and Plans, and all other instruments and
documents, whether now or hereafter existing, executed by owner
further securing the above -described Real Estate Lien Note.
Property: All of Grantor's leasehold interest in a tract of land out of Section 32,
Block A, Abstract 684, H.B. Reed Original Grantee, Lubbock County,
Texas, and being more particularly described as follows:
BEGINNING at a 'V2" iron rod, set for the Northeast and beginning
corner of this tract, whence the Northeast corner of said Section 32
bears North, 2020.34 feet and East 4486.05 feet;
THENCE South 00°06'45" West, 550.00 feet to a %2" iron rod, set
for the Southeast corner of this tract;
THENCE North 89°53' 15" West, 210.00 feet to a 1/2" iron rod, set
for the Southwest corner of this tract;
THENCE North 00°06'45" East, 550.00 feet to a %2" iron rod, set
for the Northwest corner of this tract;
THENCE South 89°53' 15" East, 210.00 feet to the POINT OF
BEGINNING.
Lessor acknowledges the Assignment of Lease Agreement (the "Assignment"), entered
into by and between Lessee and Lender dated June 22, 1995, and hereby consents to the
Assignment and states that the Assignment is accepted by Lessor. Lessor, Lender and
Assignor all herein agree that upon receipt from Lender of written notice to the effect that
a default exists in one or more of the loan documents, Lender shall attom to Lessor and
become the tenant for the above -described leasehold interest in lieu of Lessee, and both
Lessor and Lender shall henceforth observe and perform the Lease Agreement as though
Lender were the Lessee named in the Lease Agreement, so as to establish direct privity of
contract between Lender and Lessor, with the same force and effect as though the Lease
Agreement was originally made directly between Lender and Lessor.
EXECUTED on the 14th day of September , 1995.
AVID R. LANGSTON, %AYOR
ATTEST:
etty Nf. Johnson, Itity Secretary
APPROVED AS TO CONTENT:
M4WV Earle, Aviation Manager
APPROVED AS TO FORM:
Harold Willard, Assistant City Attorney
CONSENT TO ASSIGNMENT
Page 2
Lender:
NO]
BY:
Assignor:
HALLMARK & ASSOCIATES, INC.
BY: ��GL
W. Wesley all k, President
THE STATE OF TEXAS §
COUNTY OF LUBBOCK §
This instrument was acknowledged before me on the o2 la.'t- day of
, 1995, by David R. Langston, as Mayor of the CITY OF
LU BOCK, TEXAS, on behalf of the CITY OF LUBBOCK, TEXAS.
Place Seal, Printed Name
& Commission Expiration
Date Here:
ary Public, State of Texas
CONSENT TO ASSIGNMENT
Page 3
THE STATE OF TEXAS
COUNTY OF LUBBOCK §
This instrument was acknowledged before me on the 3rd day of
August , 1995, by Roy Thompson, Vice President of NORWEST
BANK TEXAS, N.A., on behalf of NORWEST BANK TEXAS, N.A.
'' LISA STEWARD
Notary Pac, SM of Texan
"q a My corm wm Ex n ON
Place Seal, Printed Name
& Commission Expiration
Date Here: 5/08/99
THE STATE OF TEXAS §
COUNTY OF LUBBOCK
Notary Public, State of Texas
This instrument was acknowledged before me on the f day of
1995, by W. Wesley Hallmark, President of HALLMARK &
ASKOCLOES, INC., a Texas Corporation, on behalf of said Corporation.
��t< Notary Public, State of xas
Place Seal, Printed Name
& Commission Expiration
Date Here: 1 11-a--�./97
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c ity att\a-h l l mrk. d o c
July 5, 1995
CONSENT TO ASSIGNMENT
Page 4