Res 1369 11/21/1972RESOLUTION NO. 4k4,7
RESOLUTION APPROVING AMENDMENT TO FUNLAND
LEASE PROVIDING FOR FIVE YEAR OPTION AND
SUBORDINATION OF LEASE.
WHEREAS, heretofore the City of Wichita Falls entered into
a contract with Wichita Falls Funland, Inc. dated July 12, 1965
authorizing the operation of an amusement park in Weeks Park
for a period of five years ; and,
WHEREAS, the parties executed an amendment, dated April 30,
1971, to said lease, which amended Paragraph 3 of the original
lease and also provided that such lease had been extended for
a period of five years from July 1, 1970; and,
WHEREAS, Wichita Falls Funland, Inc. is applying for a
Small Business Administration loan, and desires to obtain an
option to extend the July 12, 1965 agreement for a period of
five years after July 1, 1975 and a subordination of any landlord' s
lien which the City may have on the property of Wichita Falls
Funland, Inc.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF
THE CITY OF WICHITA FALLS, TEXAS, THAT:
Such an amendment to said contract dated July 12 , 1965 grant-
ing to Wichita Falls Funland, Inc. an option to renew such contract
for a period of five years after July 1, 1975 upon not less than
30 days written notice to the City, and subordinating to such
Small Business Administration loan any landlord' s lien which the
City may have on tie property of Wichita Falls Funland, Inc. , is
hereby approved, and the City Manager is hereby authorized to
execute such amendment to said contract.
PASSED AND APPROVED THIS THE 21ST DAY OF NOVEMBER, 1972.
Of -
ATTEST: MAYOR
L/
City Clerk