Res 101-87 6/16/1987RESOLUTION NO. lot-87
RESOLUTION APPROVING AND AUTHORIZING
EXECUTION OF A LEASE WITH IMAGE
ADVERTISING CO. FOR AN OUTDOOR ADVER-
TISING SIGN ON SOUTHWEST PARKWAY.
WHEREAS, as a part of the Holliday Creek Project, the
City of Wichita Falls purchased the property at 2010
Southwest Parkway; and,
WHEREAS, TGR Inc. , d/b/a Image Advertising Company, had
a lease with the previous owner for an outdoor advertising
sign; and,
WHEREAS, Image has now requested the City to execute a
lease for the sign, as it does not appear that the structure
will conflict with the channel construction.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF WICHITA FALLS, TEXAS, THAT:
That certain lease dated June 1, 1987, between the City
of Wichita Falls and TGR Inc. , d/b/a Image Advertising
Company, a copy of which is attached hereto, providing for a
lease of property at 2010 Southwest Parkway, Wichita Falls,
Wichita County, Texas, for the purpose of erecting and
maintaining an advertising sign structure for the period of
two (2) years, is hereby approved, and the City anager is
authorized to execute the same on behalf of the pity.
1
PASSED AND APPROVED this . 6th d-y of , e, l• :7.
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II ay
M A Y O R
ATTEST:
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City -lerk
ADVERTISING SIGN PERMIT
Wichita Falls, Texas
July 1, 1987
In consideration of Seven Hundred Fifty Dollars
750.00) per year, or 10% of rental income, whichever is
greater, payable in advance to the Accounting Department of
the City of Wichita Falls, Texas, the City of Wichita Falls
does hereby grant to TGR, Inc. , d/b/a Image Advertising
Company, the following privileges:
The exclusive right to erect and maintain an
advertising sign structure, with free access to and from the
same, on the following described property for a term of two
years from the first day of the month after the above date:
At the spot where the sign is
now erected at 2010 Southwest
Parkway in Wichita Falls.
The lease is assignable by either party and it is
agreed and understood this agreement is binding upon any
grantee of the above described property. Should the view of
the sign become in any way obstructed or the free use of the
property by Lessee be denied by law, the Lessee may
terminate this lease and be refunded prorata rental for the
unexpired term. City may also terminate this agreement by
giving TGR, Inc. , d/b/a Image Advertising Company, sixty
60) days notice to remove its sign, in which case the
rental would be prorated.
Lessor covenants and warrants that it is the owner of
the property.
CITY OF WICHITA FALLS, TEXAS
By:
James Berzina, City Manager
ACCEPTED: