Res 018-89 2/7/1989RESOLUTION NO. IY-- �r
RESOLUTION AUTHORIZING THE CITY MANAGER TO
EXECUTE A LEASE AGREEMENT ON BEHALF OF THE
CITY OF WICHITA FALLS WITH FIRST INDIANA
COMPANY, LTD.
WHEREAS, the City of Wichita Falls owns two lots known as
820 Ohio Street which are available as public parking; and,
WHEREAS, the City is interested in leasing the property in
order to alleviate the responsibilities and cost of maintenance.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WICHITA FALLS, TEXAS, THAT:
The City Manager is hereby authorized to execute the
attached lease agreement on behalf of the City of Wichita Falls
with First Indiana Co., Ltd., whereby the City will lease the
parking facilities located on Lots 6 and 7, Block 176, Original
Townsite, a /k /a 820 Ohio Street, Wichita Falls, for usage by the
tenants of the First Texas Building.
PASSED AND APPROVED this the 7th day of February, 1989.
M A Y O R
ATTEST:
City Clerk
i
y
STATE OF TEXAS )(
COUNTY OF WICHITA )(
This lease, made and entered into this the day of
, 1989, 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 on 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 15th day of February, 1989,-and ending the 14th day
of February, 1994. Lessee has an option to renew this lease for
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an additional period of three 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.
Lessee shall pay annual rental for this lease in the sum of
Three Hundred Fifty Dollars ($350.00) 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 28th of
February, 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
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the premises without the consent of Lessor's City Manager. If
modifications are made, at termination Lessee will restore the
premises to the condition they were 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.
CITY OF WICHITA FALLS
By:
City Manager
ATTEST:
City Clerk
FIRST INDIANA COMPANY, LTD.
By:
President
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