HomeMy WebLinkAboutResolution - 1361 - Assignment Of Claim - CLIC - Terminal Building Damage Loss, LIA - 03_31_1983RESOLUTION 1361 - 3/31/83
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RESOLUTION
A RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE AN ASSIGNMENT OF CLAIM TO
COMMONWEALTH LLOYDS INSURANCE COMPANY WHICH ASSIGNMENT IS MADE PURSUANT TO
TERMS OF A CONTRACT OF INSURANCE BETWEEN THE CITY OF LUBBOCK AND COMMONWEALTH
LLOYDS INSURANCE COMPANY DESIGNATED AS POLICY NUMBER C 56 43 09.
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 di-
rected to execute for and on behalf of the City of Lubbock an Assignment of
Claim to Commonwealth Lloyds Insurance Company, which Assignment is made pur-
suant to terms of contract of insurance between the City of Lubbock and Common-
wealth Lloyds Insurance Company designated as Policy Number C 56 43 09; which
Assignment of Claim, attached herewith, 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 315t day of March 1983.
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B L MCALIS R, MAYOR
ATTEST:
Gaffga, City S'ecretdVIy-Treasurer
APPROVED AS TO CONTENT:
Rod Bouffard, istant
APPROVED AS TO FORM:
Director of Finance
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M. Sherwin, Assistant City Attorney
THE STATE OF TEXAS
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RESOLUTION 1361 - 3/31/83
COUNTY OF LUBBOCK
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ASSIGNMENT OF CLAIM
The CITY OF LUBBOCK, TEXAS, hereinafter called "CITY",
hereby acknowledges receipt of the sum of FORTY-EIGHT THOUSAND
NINE HUNDRED SEVENTY-TWO AND 93/100 DOLLARS ($48,972.93) from
COMMONWEALTH LLOYDS.INSURANCE COMPANY, hereinafter called "COM-
PANY", which sum was paid to CITY pursuant to the terms of a con-
tract of insurance, designated as Policy Number C 56 43 09, be-
tween CITY and COMPANY and as a consequence of a loss suffered by
CITY, which loss resulted from damage to the terminal building of
the Lubbock International Airport, formerly known as the Lubbock
Regional Airport, located at North Quirt Avenue and Farm Road 2641
in Lubbock County, Texas.
As consideration for the payment of said sum, CITY hereby
assigns to COMPANY all of its claim or claims against any person,
persons, corporation, or corporations, or other parties, causing
or liable for the loss or the damage to said terminal building or
from any insurance effected on such terminal building and any re-
covery thereon, provided however, that CITY shall be entitled to
receive one -tenth of any sum so recovered.
The CITY covenants that no settlement will be made by the
CITY with any person, persons, corporation or corporations, or
other parties against whom a claim may lie, and no release will
be given to anyone responsible for such loss without the written
consent of the said COMPANY; and the undersigned covenants and
agrees to cooperate fully with the said COMPANY, to promptly pre-
sent claim and, if necessary, to commence, enter into and prose-
cute suit against such person or persons, corporation or corpora-
tions, or other parties, through whose negligence or other fault
the aforesaid loss was caused, or who may otherwise be responsi-
ble therefor, with all due diligence, in its own name.
In further consideration of said payment the CITY hereby
states that it is the owner of said property and believes itself
entitled to recover upon said claim for loss or damage thereto,
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CITY hereby appoint(s) the managers and/or agents of the said
"COMPANY" and their successors severally, its agent(s) and at-
torney(s)-in-fact, with irrevocable power, to collect any such
claim or claims, and to begin, prosecute, compromise or withdraw
in its name, but at the expense of the said "COMPANY", any and
all legal proceedings that the said "COMPANY" may deem necessary
to enforce such claim or claims, and to execute any documents
that may be necessary to carry the same into effect for the pur-
poses of this Agreement.
Any legal proceedings are to be under the exclusive direc-
tion and control of said "COMPANY".
EXECUTED this 31st day of March 1983.
THE CITY OF CK, Z,/
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BY:
BIL Mc I ER, MAYOR
ATTEST:
Evelyn Gaffga, City 18A cretary-Treasurer
APPROVED AS TO CONTENT:
Rod B6uttarVAsst. Director of Finance
APPROVED AS TO FORM:
J" M. Sherwin, Asst. City Attorney