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HomeMy WebLinkAboutResolution - 5256 - Asign Lease And Amendment From Estate Of E Reuel Nash To G Larry Rice - 09_10_1996RESOLUTION NO.5256 September 10, 1996 Item #15 WHEREAS, on or about the 9th day of December 1982, the City of Lubbock, Texas, pursuant to Resolution 1278-B leased to E. Reuel Nash a tract or parcel of land in Lot 1, Henry Addition to the City of Lubbock, upon which the Lessee was authorized to construct various improvements including sidewalks, paved parking and landscaping; and WHEREAS, such Lease was subsequently amended on or about the I Ith day of April, 1991; and WHEREAS, the Estate of E. Reuel Nash, deceased, now desires to assign all right, title and interest in and to the above -described Lease to G. Larry Rice; and WHEREAS, such an assignment requires the consent of the Lessor, but the City Council has determined that the desired assignment would not be adverse to the interests of the citizens of the City; NOW THEREFORE: BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK, TEXAS: THAT in consideration of an assignment executed in substantially the same form as the attached document, the Council hereby authorizes the Mayor to consent to the assignment by the Estate of E. Reuel Nash to G. Larry Rice of the Lease and the Amendment thereto as hereinabove described. Passed by the City Council this loth day of September , 1996. ATTEST: et4iaa V--e 2`� arold Willard, Interim City Secretary APPROVED AS TO CONTENT: Ed Bucy, Right -of -Way A&fit APPROVED AS TO FORM: arold Willard, Xssistant City Attorney HW is/LSE-ERN.RES ccdocs/June 25, 1996 RESOLUTION N0.5256 September 10, 1996 Item #15 THE STATE OF TEXAS § COUNTY OF LUBBOCK § IMI-11CM1u_MI_ITMAWKW_ THIS AGREEMENT is made between the Estate of E. REUEL NASH, hereinafter called "Assignor," and G. LARRY RICE, hereinafter called "Assignee." WHEREAS, the Lease Agreement attached hereto as Exhibit A and incorporated herein by reference as the subject of this Assignment was executed on or about December 9, 1982, between the City of Lubbock, Texas, as Lessor, and E. Reuel Nash, as Lessee, by the terms of which the property described in Exhibit A was leased to the Lessee for a term of fifty (50) years, commencing on January 1, 1983, and ending on December 31, 2032; and WHEREAS, the Amendment of Lease attached hereto as Exhibit B and incorporated herein by reference as the subject of this Assignment was executed on or about April 11, 1991, between the City of Lubbock, Texas, as Lessor, and E. Reuel Nash, as Lessee, by the terms of which the rental amounts in the original Lease Agreement were amended; WHEREAS, all references herein to the "Lease" shall mean the lease attached as Exhibit A as amended by the Amendment of Lease attached as Exhibit B; and WHEREAS, the Assignor now desires to assign the Lease to the Assignee, and the Assignee desires to accept the assignment of such Lease. _ NOW THEREFORE, for good and valuable consideration, receipt of which is hereby acknowledged, the Assignor herein assigns to the Assignee and the Assignee accepts from the Assignor all right, title and interest in and to the above -described Lease. By accepting and executing this Assignment, Assignee expressly assumes and agrees to perform and fulfill all the terms, covenants, conditions and obligations required of the Assignor as the Lessee under the .Lease herein assigned, including the payment of all rentals therein described to the Lessor when due and payable. The Assignee shall also be entitled to all of the benefits under the Lease. This Assignment shall become effective on July 15, 1996, and shall apply to all rentals due under the Lease until expiration of the Lease term on December 31, 2032. IN WITNESS WHEREOF, the parties have executed this Assignment of Lease this 10 th day of September , 1996. ASSIGNOR: ASSIGNEE: ESTATE OF E. REUEL NASH G.ALARRVRIC-Ir" BY:�'►,��-y �c.vc.,c, a�� ORIE R TH NASH Executrix of the Estate of E. Reuel Nash, Deceased CONSENT OF LESSOR: CITY OF 97-k— AlexBY:—'— "Ty" Cooke, Mayor Pro Tem ATTEST: 'g /- . X IM, Ftrr61d"Wil=1a:trNZt, Interim City Secretary APPROVED AS TO CONTENT: �--- tom - Ed Bucy, Right-of-Wa gent APPROVED AS TO FORM: arold Wigard Assistant City Att rney HW js/AOL-ERN.DOC W-Conts,Agmts/July 18, 1996 RESOLUTION 1278-5 - 1 2/ 9/82 LEASE STATE OF TEXAS COUNTY OF LUBBOC[ KNOW ALL MEN BY THESE PRESENTS: The City of Lubbock, a Some Rule Municipality, hereinafter called Lessor, and E. REM HASH, hereinafter called Lessee, mutually agree u followat The Lessor hereby lasses to the Lessee that tract or parcel of land described as Lot 1, Henry Addition to the City of Lubbock, Lubbock County, Texas, save and except the following described fenced tract, to-vlt: BEGINNING at a point 65 feat North 36 degrees 04' 10" Vent of the South - vest corner of Lot 1, Henry Addition, as described in Vol. 60, page 117 of the Dead Records of Lubbock County, Texas, said corner being a 4' rod; THENCE North 36 degrees 04' 10" West 66 feat to the Northeast corner of said tract; THENCE North 53 degrees 53' 40" East along a fence a distance of 53.3 feet to the Northeast corner of said tract; THENCE South 36 degrees 04' 10" East along a fence a distance of 66.4 feet to the Southeast corner of said tract; THENCE South 53 degrees 53' 40" West along a fence a distance of 53.3 feet to the PLACE OF BEGINNING. To hold the same to the Lessee for the term, of 50 years from the let day of January, 1983, paying rental therefor in monthly installments of $150 on the first day of each and every month during the first year of the term of this lease, and thereafter said rental payment due shall increase each year by $7.30 per month. Said increase shall become effective and due and payable on the first day of the first month of each year upon the following conditions and covenants: 1. THAT the Lessee shall pay the rent in advance as aforesaid, as the same shall fall due. 2. THAT the Lessee shall have the right, at its own expense to con- struct sidewalks, paved parking services and landscaping upon the above des- cribed property. This construction shall be in accordance with the Code of Ordinances of the City of Lubbock, Texas, and subject to the approval of the Director of Public Works prior.to construction. The Lessee agrees to keep and maintain the property in good repair during the term of this lease. The Lessee agrees to hold the Lessor harmless from all claims for any damage to any person or property in or upon said property. 3. THAT the Lessor retains the rights of ingress, egress and regress at any and all times, in, on, under, along, above and across the above described property with the right to construct, reconstruct and maintain any and all facilities necessary for the Lessor to carry out its duties as a Home Rule Municipality. In the event the improvements constructed by Lessee interfere with the performance of Lessor's duties, Lessee shall remove or alter said improvements, at its expense, after notice from Lessor. Lessor retains the right to remove said improvements and right of reimbursement on failure of Lessee to remove improvements on request. 4. THAT at the termination of this lease, the Lessee shall remove all improvements installed by Lessee as requested by the Lessor. S. THE Lessee shall not assign or sublet the premises or any part thereof without the consent of the Lessor in writing. Upon assignment with the consent of the Lessor, the Lessee, E. Reuel Nash, will no longer be bound by the terms of this lease. E Reuel Nash will be primarily responsible under the terms of this lease if the property or any part thereof is sublet with the consent of the Lessor. Said consent for assignment of subleasing shall not be unreasonably withheld by the Lessor. EXHIBIT "All � . 6. THE terms of the Lease cannot be modified or altered except by written amendment thereto. 7. THE Lease* and the Lessor each bind themselves and their successors and assigns to the other party of this agreement and to the successors and "signs of such other party, in respect to all terms and couvenauts of this Lease. EXECUTED this 9th day of December, 1982. 7 , Vr- Alga Henrys Miym Fr T*st ATMT t Y *lyn O ffga, City. ry-Treasurer APPROVED AS TO CONTMIT: Robert Massengale, Aspistant City Manager APPROVED AS TO POHM: Susan M. Horton, Assistant City Attorney E. RE[JEL MASS P.O. Box 16265 Lubbock, Texas 79690 I ,."51 9 A ilikkk I 9M.9111 P kkkkkk M n M M M Aaa tMiiil Aesoiucion No. April 11, 1991 Item #15 AMENDMENT OF LEASE STATE OF TEXAS § COUNTY OF LUBBOCK § WHEREAS, the City of Lubbock (as Lessor) leased unto E. Reuel Nash (as Lessee), a portion of Lot 1, Henry Addition to the.City of Lubbock, Lubbock County, Texas as described in such Lease, which Lease is hereby referred to for all pertinent purposes; and WHEREAS, the Lessee has requested the City of Lubbock for an Amendment to the Lease, to which amendment the City of Lubbock is agreeable as hereinafter set forth; NOW THEREFORE: KNOW.ALL MEN BY THESE PRESENTS: THAT in consideration of the premises and the covenants to be kept and performed by the parties to said Lease, said Lease is hereby amended in part as follows: - The full paragraph on the first page, beginning on the seventeenth (17th) line down from the beginning of the body of the Lease, and which full paragraph is also immediately below the legal description of the fenced tract of land ex- cepted from the Lease, is hereby amended in its entirety (as to said full paragraph) to read hereafter as follows: EXHIBIT ±- "Bn "To hold the same to Lessee for the term of fifty (50) years from the first day of January, 1983, paying rentals therefor in monthly installments of ONE HUN- DRED FIFTY AND N0/100 DOLLARS ($150.00) on the first day of each and every month, during the first year of the term of the Lease, and thereafter said rental pay- ment due shall increase each year by SEVEN AND 50/100 DOLLARS ($7.50) per month until May 1, 1991, whereupon on May 1, 19910 the rental payment shall be at the rate of TEN AND NO/100 DOLLARS ($10.00) per annum from May 1, 1991 through April 30, 1996 (inclusive) with such TEN AND NO/100 DOLLARS ($10.00) annual payments being due each year on May 1, 1991; May 1,= 1992; May 11 1993; May 1, 1994; and May 1, 1995; and on May 1, 1996, the rental payments shall resume at'a monthly rate of ONE HUNDRED FIFTY AND NO/100 DOLLARS per month from May 1, 1996 through April 30, 1997, and there- after on May 1, 1997 and on May 1st of each succeeding year_ thereafter, said monthly rental rats: shall in- crease by SEVEN AND 50/100 DOLLARS ($7.50) per month during the life of this Lease." - 2 - Except as hereinabove amended, said Lease shall in all other respects remain the same. EXECUTED this the 11th day of April , 1991. LESSOR: CITY OF LUBBOCK BY: for B. C. McMINN, MAYOR T. J. Patterson, Mayor Pro-Tem ATTEST: \ me •__:�:�__.. `Ftan tte Boyd, City Sec etary APPROVED AS TO CONTENT: Ed Bucy, Right of -Way Agent LESSEE: BY: E. REUEL N H APPROVED AS TO FORM: Q'V6444 J. o th Ful ingim, Assistant Ci y ttorney - 3 - THE STATE OF TEXAS COUNTY OF LUBBOCK § BEFORE ME, the undersigned authority, a Notary Public in and for said County, Texas, on this day personally appeared -Be Q. 'r T• pp44er'Son !you , known to me to be the person whose name is sub- sM scribed to the foregoing instrument and acknowledged to me that he executed the same as the act and deed of the CITY OF LUBBOCK and as MAYOR, for the purposes and consideration therein expressed and in the capacity therein stated. VL GIV N UNDER MY HAND AND SEAL OF OFFICE this day of 1991. Nota y Public in and for the State of Texas THE STATE OF TEXAS $ COUNTY OF LUBBOCK BEFORE ME, the undersigned authority, a Notary Public in and for said County, Texas, on this day personally appeared E. Reuel Nash, President of 70th and Indiana, Inc., a Texas Corporation, known to me to be the person and officer whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same for the purposes and consideration therein expressed and in the capacity herein stated as the act and deed of said corporation. G;VEN UNDER MY HAND AND SEAL OF OFFICE this 11,1-k day of 1L , 1991. Notary Publ c n and for Lubbock County,.Texas E06C'44no wlLse+✓ rvt'1 My Commission Expires: Resolution No. 3585 April 11, 1991 Item #15 JWF:js 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 an Amendment to a Lease to be entered into by and between the City of Lubbock (as Lessor) and E. Reuel Nash (as Lessee) concerning a portion of Lot 1, Henry Addition to the City of Lubbock, Lubbock County, Texas, 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 11th day of Anrii , 1991. for B. C. MiMrNN,-MAYOR T. J. Patterson, Mayor Pro-Tdm 7 ESS'll: �) anet a Boyd, City Secretary APPROVED AS TO CONTENT: ��ot'._ ';' ucy, Right-of-way Agent AS TO FORM: