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Res 113-2008 7/15/2008 RESOLUTION NO. l� RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA FALLS, TEXAS, AUTHORIZING A BILATERAL LEASE TERMINATION FOR LEASES AT LAKES ARROWHEAD AND KICKAPOO; FINDING AND DETERMINING THAT THE MEETING AT WHICH THIS RESOLUTION WAS PASSED WAS OPEN TO THE PUBLIC AS REQUIRED BY LAW. WHEREAS, there are times when current leaseholders at Lakes Arrowhead and Kickapoo wish to transfer such leaseholds to other parties; and, WHEREAS, in such instances, the assignee is required by the mortgage lender to enter into a new lease for a sufficient lease term; and, WHEREAS, the creation and execution of a bilateral lease termination instrument, allowing for termination of a lease with the current leaseholder so that a new lease may be entered into by the assignee, would allow for the assignee to meet the requirements of the mortgage lender; and, WHEREAS, the City Council is of the opinion that such bilateral lease termination instrument is essential for the efficient lease transfer transaction process. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WICHITA FALLS, TEXAS, THAT: SECTION 1 . The bilateral lease termination instruments for leases at Lakes Arrowhead and Kickapoo, copies of which are attached hereto, are hereby approved, and the City Manager is authorized to execute such instruments on behalf of the City of Wichita Falls when appropriate. SECTION 2. It is hereby officially found and determined that the meeting at which this resolution was passed was open to the public as required by law. PASSED AND APPROVED this the 15 day of July 2008. j — � R PRO TEM ATTEST: , i Clerk LAKE ARROWHEAD BILATERAL LEASE TERMINATION STATE OF TEXAS § COUNTY OF WICHITA § This Lease Termination, made and entered into on the day of January, 2007, by and between the City of Wichita Falls, a municipal corporation, acting through its City Manager, hereinafter called "Lessor", and of , hereinafter called "Lessee", WITNESSETH: In a Lease Agreement (hereinafter known as "the Lease") dated the day of January , 2007, Lessor did thereby lease to Lessee the following described real property located in Clay County, Texas, to wit: Lot No. , Block , Lake Arrowhead - North, Clay County, Texas, according to the map on file in the office of Lake Lot Administration of the City of Wichita Falls, hereinafter called "premises." 1. TERMINATION. The term of the Lease was for a period of 25 years beginning on January, 2007 and ending on January, 20 . Lessor and Lessee, having mutually determined and agreed that both parties, voluntarily and without coercion, wish to terminate the Lease prior to the conclusion of the original term of the Lease, do agree that the Lease is hereby terminated as of January, 20 , and the rights and obligations of the parties thereunder are ended. 2. RENTAL. Lessor agrees that Lessee currently owes no annual rental to Lessor. Lessor and Lessee further agree that there will be no proration of rental already paid, and that Lessee is not due any refund of rental. 3. ADDRESSES. The address listed below Lessee's signature on this lease termination shall be deemed to be Lessee's forwarding address and shall be used by Lessor for any notices and/or correspondence regarding the Lease or this Lease Termination. Notices or correspondence with the Lessor shall be to the Office of the Lake Lot Coordinator. 4. 4. RECORDING. Neither the Lessor nor the Lessee shall be required to record this Lease Termination in the records of Clay County, Texas, provided, however, that upon request by Lessee, the Lease Termination shall contain the appropriate acknowledgments which would permit recording in Clay County, Texas. If Lessee elects to record this Lease Termination, a copy thereof shall be furnished to the Lake Lot Coordinator and maintained in the Lake Lot Administration files. 5. BREACH OF COVENANTS. Lessor and Lessee agree that neither party has breached this agreement, and that this Lease Termination is not as a result of breach. 6. DISPOSITION OF IMPROVEMENTS. Lessor and Lessee are executing this termination as a result of Lessee's hereby stated intention to transfer the improvements to NAME OF NEW TENANTS who will immediately enter into a Lease with Lessor to gain access to said improvements. Should NAME OF NEW TENANTS fail to enter into a Lease with Lessor to gain access to said improvements, or should NAME OF NEW TENANTS fail to take possession of the improvements, or should Lessee fail to transfer the improvements to NAME OF NEW TENANTS, Lessee shall have sixty (60) days from the date of execution of this Lease Termination to remove all improvements placed on the premises by Lessee, but in removing such improvements Lessee will not damage to any extent any of the property belonging to Lessar or any other person. If removal of the improvements becomes necessary, Lessee also agrees that during this period of removal, Lessor shall not be liable in any manner for bodily injury or death to any person or damage to any property (including the person and property of Lessee) caused in whole or in part by any latent or patent condition or defect on the leased premises or as a result of flooding or high water or as a result of any act or omission of Lessee or Lessee's family members, guests, or licensees, and Lessee specifically agrees to indemnify and hold Lessor harmless from any such claims, demands, or suits for injuries or death to persons or damage to property, regardless of whether such injury, death, or damage was caused or contributed to in part by some act or omission by the Lessor, its officers, agents, or employees. Should NAME OF NEW TENANTS fail to enter into a Lease with Lessor to gain access to said improvements, or should NAME OF NEW TENANTS fail to take possession of the improvements, or should Lessee fail to transfer the improvements to NAME OF NEW TENANTS, and Lessee fails to remove all improvements placed on the premises by Lessee by sixty (60) days from the date of execution of this Lease Termination, then Lessor shall have the right to enter upon the premises and take possession thereof or at Lessor's option, sell to the highest bidder at either public or private sale, all of Lessee's interest in the improvements placed thereon. The receipts from the sale shall be applied first to the expense of holding the sale; second to any deed of Trust or Mechanic's Lien outstanding against any buildings or improvements placed on the improvements; third to any indebtedness owed by Lessee to Lessor; and the remainder, if any, shall be paid to Lessee and shall be received by Lessee as full payment of all rights, title and interest of Lessee in and to the improvements. Provided, however, that the time periods provided for above shall not prevent Lessor's right to immediate action to abate any nuisance on the premises. 7. INVALID PROVISIONS. In the event any covenant, condition, or provision herein contained is held to be invalid by a court of competent jurisdiction, the validity of any such covenant, condition, or provision shall in no way affect any other covenant, condition, or provision. 8. ENTIRE AGREEMENT. This written contract constitutes the entire agreement between the parties. Approved as to Form: City of Wichita Falls, Texas By: Assistant City Attorney Darron J. Leiker, City Manager Lessee Signature: Forwarding Address City State Zip STATE OF TEXAS § COUNTY OF WICHITA § This instrument was acknowledged before me on the day of January, 2007, by Darron J. Leiker, City Manager of the City of Wichita Falls. Notary Public, State of Texas STATE OF TEXAS § COUNTY OF WICHITA § This instrument was acknowledged before me on the _ day of , 20_, by Notary Public, State of STATE OF TEXAS § COUNTY OF WICHITA § This instrument was acknowledged before me on the _ day of , 20_, by Notary Public, State of � LAKE KICKAPOO BILATERAL LEASE TERMINATION STATE OF TEXAS § COUNTY OF WICHITA § This Lease Termination, made and entered into on the day of January, 2007, by and between the City of Wichita Falls, a municipal corporation, acting through its City Manager, hereinafter called "Lessor", and of , hereinafter called "Lessee", WITNESSETH: In a Lease Agreement (hereinafter known as "the Lease") dated the day of January , 2007, Lessor did thereby lease to Lessee the following described real property located in Archer County, Texas, to wit: Lot No. , Block , Lake Kickapoo - North, Archer County, Texas, according to the map on file in the office of Lake Lot Administration of the City of Wichita Falls, hereinafter called "premises." 1. TERMINATION. The term of the Lease was for a period of 25 years beginning on January, 2007 and ending on January, 20 . Lessor and Lessee, having mutually determined and agreed that both parties, voluntarily and without coercion, wish to terminate the Lease prior to the conclusion of the original term of the Lease, do agree that the Lease is hereby terminated as of January, 20 , and the rights and obligations of the parties thereunder are ended. 2. RENTAL. Lessor agrees that Lessee currently owes no annual rental to Lessor. Lessor and Lessee further agree that there will be no proration of rental already paid, and that Lessee is not due any refund of rental. 3. ADDRESSES. The address listed below Lessee's signature on this lease termination shall be deemed to be Lessee's forwarding address and shall be used by Lessor for any notices and/or correspondence regarding the Lease or this Lease Termination. Notices or correspondence with the Lessor shall be to the Office of the Lake Lot Coordinator. 4. 4. RECORDING. Neither the Lessor nor the Lessee shall be required to record this Lease Termination in the records of Archer County, Texas, provided, however, that upon request by Lessee, the Lease Termination shall contain the appropriate acknowledgments which would permit recording in Archer County, Texas. If Lessee elects to record this Lease Termination, a copy thereof shall be furnished to the Lake Lot Coordinator and maintained in the Lake Lot Administration files. 5. BREACH OF COVENANTS. Lessor and Lessee agree that neither party has breached this agreement, and that this Lease Termination is not as a result of breach. 6. DISPOSITION OF IMPROVEMENTS. Lessor and Lessee are executing this termination as a result of Lessee's hereby stated intention to transfer the improvements to NAME OF NEW TENANTS who will immediately enter into a Lease with Lessor to gain access to said improvements. Should NAME OF NEW TENANTS fail to enter into a Lease with Lessor to gain access to said improvements, or should NAME OF NEW TENANTS fail to take possession of the improvements, or should Lessee fail to transfer the improvements to NAME OF NEW TENANTS, Lessee shall have sixty (60) days from the date of execution of this Lease Termination to remove all improvements placed on the premises by Lessee, but in removing such improvements Lessee will not damage to any extent any of the property belonging to Lessor or any other person. If removal of the improvements becomes necessary, Lessee also agrees that during this period of removal, Lessor shall not be liable in any manner for bodily injury or death to any person or damage to any property (including the person and property of Lessee) caused in whole or in part by any latent or patent condition or defect on the leased premises or as a result of flooding or high water or as a result of any act or omission of Lessee or Lessee's family members, guests, or licensees, and Lessee specifically agrees to indemnify and hold Lessor harmless from any such claims, demands, or suits for injuries or death to persons or damage to property, regardless of whether such injury, death, or damage was caused or contributed to in part by some act or omission by the Lessor, its officers, agents, or employees. Should NAME OF NEW TENANTS fail to enter into a Lease with Lessor to gain access to said improvements, or should NAME OF NEW TENANTS fail to take possession of the improvements, or should Lessee fail to transfer the improvements to NAME OF NEW TENANTS, and Lessee fails to remove all improvements placed on the premises by Lessee by sixty (60) days from the date of execution of this Lease Termination, then Lessor shall have the right to enter upon the premises and take possession thereof or at Lessor's option, sell to the highest bidder at either public or private sale, all of Lessee's interest in the improvements placed thereon. The receipts from the sale shall be applied first to the expense of holding the sale; second to any deed of Trust or Mechanic's Lien outstanding against any buildings or improvements placed on the improvements; third to any indebtedness owed by Lessee to Lessor; and the remainder, if any, shall be paid to Lessee and shall be received by Lessee as full payment of all rights, title and interest of Lessee in and to the improvements. Provided, however, that the time periods provided for above shall not prevent Lessor's right to immediate action to abate any nuisance on the premises. 7. INVALID PROVISIONS. In the event any covenant, condition, or provision herein contained is held to be invalid by a court of competent jurisdiction, the validity of any such covenant, condition, or provision shall in no way affect any other covenant, condition, or provision. 8. ENTIRE AGREEMENT. This written contract constitutes the entire agreement between the parties. Approved as to Form: City of Wichita Falls, Texas By: Assistant City Attorney Darron J. Leiker, City Manager Lessee Signature: Forwarding Address City State Zip STATE OF TEXAS § COUNTY OF WICHITA § This instrument was acknowledged before me on the day of January, 2007, by Darron J. Leiker, City Manager of the City of Wichita Falls. Notary Public, State of Texas STATE �F TEXAS § COUNTY OF WICHITA § This instrument was acknowledged before me on the _ day of , 20_, by Notary Public, State of STATE OF TEXAS § COUNTY OF WICHITA § This instrument was acknowledged before me on the _ day of , 20_, by Notary Public, State of