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HomeMy WebLinkAbout1993-R-09 - EXECUTION OF LEASE - STEPHENVILLE BANK AND TRUST CO.RESOLUTION NO. 93-09 RESOLUTION FOR EXECUTION OF LEASE BY CITY WITH VANCE TERRELL AND STEPHENVILLE BANK AND TRUST COMPANY, TRUSTEE BE IT RESOLVED that the Mayor, acting on behalf of the City, is hereby authorized to execute with Vance Terrell and Stephenville Bank and Trust Co., as Trustee of the Vance and Violet Terrell Trust "B" Created Under Instrument Dated June 26, 1980 as Amended, Lessors the following lease: "VANCE TERRELL and STEPHENVILLE BANK AND TRUST CO. as Trustee of the Vance and Violet Terrell Trust "B" Created Under Instrument Dated June 26, 1980 as Amended Lessors, and CITY OF STEPHENVILLE, a municipal corporation, Lessee, have this day entered into the following contract and agreement: 1. "Lessors are the owners of the following described property and the buildings situated thereon: Lots 5, 6, 7 and 8 of Block 19 in the City of Stephenville, Erath County, Texas, as shown by King's 1956 Map of Stephenville, Texas, on file in the office of the County Clerk of Erath County, Texas, and shown at page 810 of said map; and they hereby lease and demise said property to the City of Stephenville on the terms and conditions hereinafter stated. The term of this lease shall begin on the 1st day of June, 1993 and shall terminate of the 31st day of May, 1994. Lessee will pay to Lessor the sum of $450.00 per month with the first payment being due and payable on the 1st day of June, 1993 and the succeeding monthly payments on the same date of each month thereafter throughout the twelve-month period of this lease. Lessors do hereby give and grant to Lessee the right to renew this lease for an additional period of one year. Should this one-year renewal be exercised by the City of Stephenville, the city is hereby given another one-year renewal, said renewal to be on the same terms and conditions as set out herein. 2. "The leased premises shall be used by Lessee for office and storage pur- poses. 3. "The City of Stephenville is given the right to make improvements on the interior of the buildings which is the subject of this lease subject to the approval of Lessors. These improvements will remain a part of the buildings at the end of the lease term or will be removed from the buildings at the request of Lessors. - 1 - 4. "The City will be responsible for paying all utility charges on said pro- perty and will be responsible for routine maintenance of the building. Lessors will be responsible for repairing and remedying any defects in the roof or structure of said buildings, including plate glass and air and heating systems. Lessors will pay for insurance and taxes on the buildings. 5. "The Lessee shall, in the event of partial or complete destruction due to fire or other natural disaster, give immediate notice to the Lessor, who shall thereupon cause the damage to be repaired forthwith; but if the premises be by the Lessor deemed so damaged as to be unfit for occupancy, or if the Lessor shalt decide to rebuild or remodel the buildings, the lease shall cease and the rent paid to the time of the fire or other natural disaster. 6. "The City shall comply with all rules, regulations and ordinances appli- cable to the use of the premises. 7. "Lessors shall not be liable to the Lessee or to the Lessee's employees, patrons or visitors for any damage to person or property while on the premises, or for damage to person or property due to the building being improperly constructed or coming agree to hold the out of Lessors repair and in this connection that the harmless from any and all claims and to City would indemnify Lessors against any and all such claims. 9M "Lessee will maintain public liability insurance covering any damage or injury to Lessee's employees, patrons or visitors or to person or property while on the premises due to the building being improperly constructed or becoming out of repair and in this connection the City agrees to hold the Lessors harmless from any such claims and to indemnify Lessors against any such claims. 9. "In case of default by Lessee of any of the covenants herein, this lease may be forfeited at Lessor's discretion if such default continues for a period of ten days after Lessor notifies Lessee of such default and their intention to declare the lease forfeited, such notice is to be sent by Lessor to Lessee by mail or otherwise and thereupon (unless the Lessee shall shall be completely removed or cured such default) this lease shall cease and come to an end and Lessors may resume possession of the leased premises. 10. "Execution of this lease has been authorized by resolution of the City Council of the City of Stephenville, copy of which is attached hereto as an exhibit. - 2 - CERTIFICATE I, JOYCE PEMBERTON, City Secretary of the City of Stephenville, do hereby certify that the above and foregoing is a true and correct copy of the resolu- tion shown passed by a majority vote of the City Council of the City of Stephenville at a meeting of such City Council held on the 3rd day of August, 1993, as same appears of record in the minutes of such meeting. WITNESS my hand and the seal of said City this 3rd day of August, 1993. Joyce BeMbertoh, City Secretary - 3 -