Res 091-95 6/20/1995RESOLUTION NO .G - �5_
A RESOLUTION AWARDING BID FOR LEASE OF DOWNTOWN
PARKING LOT TO FIRST INDIANA COMPANY, LTD. AND
AUTHORIZING THE CITY MANAGER TO EXECUTE THE LEASE
AGREEMENT; FINDING AND DETERMINING THAT THE MEETING
AT WHICH THIS RESOLUTION WAS PASSED WAS OPEN TO THE
PUBLIC AS REQUIRED BY LAW.
WHEREAS, the City of Wichita Falls owns the parking lot at 820
Ohio Street, and said area is not currently needed for the operation of
City facilities; and
WHEREAS, the City is interested in leasing this property in order
to alleviate the responsibilities and cost of maintenance, and has,
therefore, advertised this property for lease to the general public.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WICHITA FALLS, TEXAS, THAT:
SECTION 1. Bids were received on May 15, 1995 for the lease of
parking lots as follows:
Lots 6 and 7, Block 176, Original Townsite,
a /k /a 820 Ohio Street, Wichita Falls, Texas
Bidder: First Indiana Company, Ltd.
901 Indiana, Wichita Falls, Texas
Bid: $1,250.00 annual rental
SECTION 2. The City Manager is hereby authorized to execute the
attached lease agreement on behalf of the City of Wichita Falls with
the above - stated bidder.
ATTFIST :
#f
City Clerk
STATE OF TEXAS §
COUNTY OF WICHITA §
This lease, made
and
entered into
this
the
day of
, 1995,
by
and between
the
City
of Wichita
Falls, Texas, Lessor, and First Indiana Company, Ltd., of
Wichita Falls, Lessee,
WITNESSETH:
In consideration of the covenants herein contained in the
part of Lessee to be kept and performed, Lessor does hereby
lease unto Lessee all those certain lots, tracts and parcels of
land situated in Wichita County, Texas, to -wit:
All of Lots 6 and 7, Block 176, Original
Townsite, a /k /a 820 Ohio Street, Wichita Falls.
The term of this lease shall be for a period of five
years, beginning the 1st day of July, 1995, and ending the 14th
day of June, 2000. Lessee has an option to renew this lease
for, an additional period of five years; Lessee may exercise
such option by giving Lessor notice in writing of its intention
to exercise same not less than sixty (60) days prior to the
expiration of the primary term of this lease.
The leased premises shall be used by lessee for parking
purposes only.
2
Lessee shall pay annual rental for this lease in the sum
of One Thousand Two Hundred Fifty and No /100 ($1,250.00)
Dollars per year, which shall be payable annually in advance to
the Finance Department of the City of Wichita Falls.
Lessee shall maintain the property in a clean and
attractive condition during the term of this lease.
Lessee shall pay any ad valorem taxes which may be
assessed against the property during the term of this lease.
If the Lessee fails to pay the annual rental by the 30th
of June, or if Lessee breaches any other covenant of this lease
and fails to correct such breach within thirty (30) days after
being notified in writing by Lessor of such breach, Lessor
shall have the right to terminate this lease. If, during the
term of this lease, the Wichita Falls City Council should find
that the above - described lots are needed by the City for some
other public purpose which is of higher priority, Lessor may
terminate this lease by giving Lessee notice in writing sixty
(60) days prior to such termination. Lessee shall also have
such right to terminate the lease by giving Lessor sixty (60)
days' notice in writing.
Lessee shall make no modifications to the improvements on
the premises without the consent of Lessor's City Manager. If
modifications are made, at termination Lessee will restore the
3
premises to the condition it was in at the beginning of the
lease.
Lessee shall indemnify and hold Lessor harmless from
liability for damages for personal injury or property damages
arising out of the use and maintenance of this property.
IN WITNESS WHEREOF, the parties hereto have caused these
presents to be executed as of the day and year first stated
above.
ATTEST:
City Clerk
By:
City of Wichita Falls
James Berzina, City Manager
First Indiana Company, Ltd.
By:
Richard T. Sink, President of
General Partnership