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HomeMy WebLinkAboutResolution - 102375H - Lease Contract Extension - Chamber Of Commerce - Old Town - 10_23_1975j 4KJ: cab RESOLUTION WHEREAS, the City of Lubbock, Texas, entered into a Lease Contract, dated the 3rd day of August, 1948, wherein the City of Lubbock,' Texas, leased and rented to the Lubbock Chamber of Commerce, Inc, for a period of thirty-two (32) years the North 65 feet of the east half of Block 87, Old Town of Lubbock, Lubbock County, Texas; and, WHEREAS, at its own cost, the Lubbock Chamber of Commerce, Inc. constructed a building of its own on the above -described property, and it now appears that other arrangements concerning the said Lease are desirea- ble, and this resolution is enacted in order to accomplish these matters; NOW THEREFORE: BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK- THAT the term of the August 3, 1948, Lease Contract be extended to the 3rd day of August, 1983, and that all of the terms, conditions, covenants and agreements of said Lease Contract, insofar as they are not altered by any amendments to Lease Contract made pursuant to this Resolution, continuj to bind the Lessor and Lessee for such extended term. BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK- THAT following the expiration of the term of the August 3, 1948 Lease Contract and any Amendments thereto, the City of Lubbock, Texas, shall purchase and upon payment, buy from the Lubbock Chamber of Commerce, Inc, the improvements situated on the demised premises at a total cost to the City of Lubbock, Texas, of $63, 485. 00, unless all, or such portion of the improvements situated on the leased premises is destroyed by fire, storm, explosion, flood, rising water, Act of God, war, riot, insurrection, or any other casualty, so as to prevent Lessor or Lessee from carrying on its business on the demised premises. It is specifically understood by the parties hereto that in the event of the above -described destruction of the improvements situated on the leased premises, the City of Lubbock, Texas shall not be obligated to buy nor shall the Lubbock Chamber of Commerce, Inc, be obligated to sell said improvements. BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the City of Lubbock does hereby consent to the sub -lease of said property by the Lubbock Chamber of Commerce, Inc, to the Urban Renewal KJ: cab Agency of the City of Lubbock, Inc, on the same terms and conditions as set out in the August 3, 1948 Lease Contract for all or any remaining term of th August 3, 1948 Lease Contract, with the exception that the Lubbock Chamber of Commerce, Inc. shall be entitled to contract for such consideration to be paid to the Lubbock Chamber of Commerce, Inc. by the Urban Renewal Agency of the City of Lubbock, Inc., as the parties to the sub -lease shall agree upon. This resolution shall never be construed to otherwise modify or alter any provision of the August 3, 1948 Lease Contract. The Mayor of the City of Lubbock is hereby authorized to execute an Amendment to said Lease Contract for and on behalf of the City. Passed by the City Council this 23rd day of October 1975. A. ROY MAYOR ATTEST: t reva Phillips, City ecretary-Treasurer APPROVED AS TO FORM: Fred O. Senter, Jr., City 406rney THE STATE OF TEXAS § AMENDMENT TO LEASE CONTRACT COUNTY OF LUBBOCK § This Amendment to Lease Contract made and entered into by and between the CITY OF LUBBOCK, TEXAS, acting herein by ROY BASS, MAYOR, under authority of the City Council as set out in the Minutes of the City Council, a certified copy of which is ,hereto attached and made a part hereof, hereinafter called LESSOR, and the LUBBOCK CHAMBER OF COMMERCE, INC., hereinafter called LESSEE; WITNESSETH: That LESSOR and LESSEE have heretofore entered into a Lease Contract under date of August 3, 1948, for the lease and rent to LESSEE of the North 65 feet of the East half of Block 87, Old Town of Lubbock, Lubbock County, Texas; That, it is the desire of the undersigned to amend said Lease Contract as hereinafter set out. Each of the parties hereto acknowledge the receipt of $10.00 and other good and valuable consideration which is adequate for the agreements contained in this'Amendment. L It is mutually agreed that the term of said Lease Contract is hereby extended to the 3rd day of August, 1983, and all of the terms, conditions, covenants and agreements of said Lease Contract insofar as they are not altered by this Amendment, to continue to bind the respective parties hereto for such extended term. TT_ It is further agreed that the August 3, 1948, Lease Contract be further amended so that LESSEE is allowed and authorized to sub -lease the above described property to the URBAN RENEWAL AGENCY OF THE CITY OF LUBBOCK, INC., under the same terms and conditions as set out in said August 3, 1948 Lease, and any amendments thereto, for all or any remaining term of the August 3, 1948 Lease, with the . exception that the LESSEE shall be entitled to contract for such con- sideration to be paid to the LUBBOCK CHAMBER OF COMMERCE, INC., by the URBAN RENEWAL AGENCY OF THE CITY OF LUBBOCK, INC., as the parties to the sub -lease shall agree upon. On consummation of such sub -lease, the LESSOR shall be relieved of its obligation to furnish water and electric current as provided in Section No. 4 of said original Agreement. It is further mutually agreed that for and in consideration of the fact that the LESSEE shall leave the improvements on the above des- cribed premises, that upon the expiration of the Lease Contract dated August 3, 1948, and all extension thereof, the CITY OF LUBBOCK, TEXAS, shall purchase the improvements situated on said leased premi- ses, from the LUBBOCK CHAMBER OF COMMERCE, INC., for $63, 48 5. 00 dollars cash, unless all, or such portion of the improve- ments situated on the leased premises is destroyed by fire, storm, explosion, flood, rising water, Act of God, war, riot, insurrection, or any other casualty so as to prevent LESSOR or LESSEE from carrying on its business on the demised premises. It is specifically understood by the parties hereto that in the event of the above described destruction of the improvements situated on the leased premises, the CITY OF LUBBOCK, TEXAS, shall not be obligated to buy nor shall the LUBBOCK CHAMBER OF COMMERCE, INC., be obligated to sell said improvements, nor shall the CITY OF LUBBOCK, TEXAS, have or maintain any claim or demand of any :kind or character in and to any insurance award made to or proceeds paid to the LUBBOCK CHAMBER OF COMMERCE, INC., or its sub -lessees or assignees, by reason of such destruction. At the time of purchase, LESSEE shall execute all instruments necessary to properly convey all right, title and interest in and to said improvements to LESSOR. 1975. WITNESS OUR HANDS this 2.3 day of Octo6er , CITY OF LUBBOCK. TEXAS BY: ROY SASS, MAYOR ATTEST: Treva Phillips, City ecretary-Treasurer APPROVED AS TO FORM: Fred O. Senter, Jr., CitpoAttorney LUBBOCK CHAMBER OF COMMERCE, INC. BYA4'_-Z-7. _ PRESIDENT A TTST: _.J Secretary `-THE STATE OF TEXAS SUB -LEASE AGREEMENT COUNTY OF LUBBOCK � Made this day of , 1975, by and between LUBBOCK CHAMBER OF COMMERCE, INC., known herein as Sub Lessor,. and URBAN RENEWAL AGENCY. -OF THE CITY OF LUBBOCK, INC., herein known as Sab-Lessee; W I T N E S S E T H. That heretofore under date of the 3rd'day of August, 1948, Sub -Lessor, LUBBOCK CHAMBER OF COMMERCE, INC., entered into a Lease Contract, as Lessee, for the North 65 feet of the east balf of'Blk.` 872 Old Town of Lubbock, Lubbock County, Texas, with.the City of :Lubbock, Texas, as -.Lessor, for a. period -of ..thirty-two (32)-years The -parties entered into an, Amendment to.Lease•Contract under date of ,`1975. A copy of the Lease "Contract and ibo "Imendment. to. Lease Contract is attached hereto. That the said .Sub -Lessor does by these presents sub -lease and rent unto Sub -Lessee the above described property ..for'a term of five (5) years, beginning on the 15th day of November 31 ls77 and terminating on the 14th day of November 1982 at which time Sub -Lessee agrees to deliver to Sub -Lessor possession of the above described premises in as good condition as of the time of.this Sub Lease Agreement, reasonable wear and tear excepted. Sub -Lessee shall spay Sub -Lessor therefor the sum.of $ 1150.00 per month,'without'de - wand, the first payment due and payable on or.before the 15th day of... November , 1977 and a like payment due on or before the 15th day of each month during the continued term of the lease. A11 Payments, are to be made at Ldtbock, Lubbock County, Texas. Sub -Lessee agrees hereby to be bound by all the terms and .conditions of said Lease Contract dated August 3, 1948, and any Amend- ments thereto, and to perform all the terms and conditions imposed on Sub -Lessor by the said Lease Contract so far as such terms and con dition3 are not altered by this Sub -Lease Agreement. Sub-Lessee.shall at its own expense, keep and maintain the premises in as good a state of repair as received and.to return said property at the expiration of this Sub -Lease Agreement, to Sub Lessor iri such condition, usual wear, tear, and accidental, fire not resulting from the negligence of Sub -Lessee, its officers, agents, servants, employees, representatives, licensees, or•invitees, exceptec and that upon the failure of the Sub -Lessee to keep and perform such obligations of maintenance and repair, Sub -Lessor, after ten (10) days written notice to Sub -Lessee, may. perform the -same for the account and cost_.of.Sub-Lessee. ~ That Sub -Lessee hereby agrees to timely pay and hold Sub- .. Lessor harmless from all liabilities; damages, claims, causes of action, demands, losses or expenses of any kind or character what- soever•, arising out of this Sub -Lease Agreement and the use and/or." . ccupancy by Sub -Lessee of the premises .described.� In addition to its aforementioned indemnity, Sub -Lessee agree; at its own expense, to carry and maintain in force, with an insurer. or insurers licensed to do business in Texas, a policy or policies of insurance naming the Sub -Lessor as insured, providing for fire and. extended coverage insurance in an amount not less than 90% of the full replacement cost of the improvements on the demised premises,` and also a policy or policies of insurance naming Sub -Lessee as the*:; insured and Sub -Lessor as additional insured, providing for. public liability and property damage insurance with limits of not less than $100,000.00 dollars for each person and $300,000.00 dollars for each accident or occurence and $100,000.00 dollars for damage to or destruction of the property. Further, insurance. In testimony whereof, the parties to this Agreement have hereunto set their bands in duplicate-on.the date and year here LUBBOCK CHAMBER OF COMDMERCE,, INC. Sub -Lessor BY: L AGENCY.HE CITY OFOF T CI ATTEST: URBAN RENEv7A LUBBOCK, INC., Sub -Lessee ME- tia t;t 71kt"Record on Page 179, Minute Book 8 OT THE STATE OF TEXAS COUNTY OF LUBBOCK ti CITY OF LUBBOCKTO LUBBOCK CHAMBER OF COTERCE, INC. This lease contract made and entered into by and between the City Commission of the City of Lubbock, Texas, acting herein by W.H. Rodgers, Mayor, under authority of the City Commission as set out in the minutes of the City Commission, a certified copy of which is hereto attached and made a part hereof, hereof, hereinafter called Lessor, and the Lubbock Chamber of Commerce, Inc., hereinafter called Lessee: WITNES-SETH That the Lessor has this day leased and by these presents does lease and rent to the Lessee for a period of thirty two (32) years the north 65 feet of the east half of Block 87, Old Toim of Lubbock, Lubbock County, Texas, upon the following terms and conditions, TOAM I. That the Lessee shall pay to the Lessor the sum of One ($1.00) Dollar per annum in advance, payable pro rata on the first day of the term of this lease and annually thereafter on the first day .of January as rent or lease conditions during the continuance of this lease, and in addition to the other considerations herein set out. 2. That the Lessee will construct a one-story building, approximately 54 feet by 125 feet in size, on the premises herein leased as quickly as possible, and as soon as said building is completed will vacate the space now occupied in the City Hall by the Lubbock Chamber of Commerce, Inc., Lubbock Board of City Development, Panhandle South Plains Fair Association, Inc., Lubbock Retail -Merchants Association, Inc., and the Lubbock Junior Chamber of Commerce, and hill leave in place all partitions and improve- ments of a permanent nature belonging to the Lessee. 3. That the Lessee shall have the right to occupy and use the above described building as a home for the Lubbock Chamber of Commerce, Inc., Lubbock Board of City Development, Panhandle south Plains Fair Association, Inc., Lubbock Retail Merchants Association, Inc., The Lubbock Junior Chamber of Commerce, and other allied and similar community building',- pro- tective and service organizations, 4. The Lessor will furnish the necessary water and electric current to the above building as long as the Lubbock Board of City Development is one of the organizations occupying space therein. 5. Should the Lessor need and require additional space for City offices and departments any time after a period of ten (10) years from the completion and occupancy of the above described building by the Lubbock Chamber of Commerce, Inc., et al, the Lessor may notify the Lessee that one year from date of said notice that the Lessor desires to purchase said building at said building's cost to the Lessee and the Lessee hereby agrees to accept the amount of the cost of said building, and upon payment of same agrees to vacate said 'building within one (1) year period herein specified. .1 Upon the expiration of this lease it may be extended on mutually satisfactory terms, or the Lessor may purchase the improvements at a .mutually agreed upon valuation, or the Lessee may remove the improvements therefrom. WITNESS OUR HANDS this 3rd day of August, 1948. CITY OF LUBBOCK (Signed) W. H. Rodgers (Seal) By: W. H. Rodgers, 1%%yor ATTEST: Lavenia Williams City Secretary. LU`3BOCK CHAMB1i' . OF C0122RCE, INC. (Signed) Homer D. Grant ATTEST: Homer,D. Grant, President A. B, Davis Secretary. (Seal) ~ IF r^ 4A7'r `W"�Tf"".• KnS 'I e., '�, 2 -ir y,'S 7:':T+�= 3'.y:;i_.4__�,�yk.'