Laserfiche WebLink
LEASE RENEWAL <br /> KNOW ALL MEN BY THESE PRESENTS: <br /> This agreement made between INDEPENDENCE COUNTY, ARKANSAS <br /> (hereinafter Lessor) and the CITY OF BATESVILLE, ARKANSAS (hereinafter <br /> Lessee) on this 31st day of October, 1979, witnesseth: <br /> 1. That it is agreed by and between the lessor and lessee <br /> that the term of that certain Lease Agreement made and entered into by <br /> and between the lessor and lessee hereto, dated the 27th day of October, <br /> 1976, and relating to that certain tract of land described as follows: <br /> A part of Lots 4 and 5 of Block 19 in Old Town Addition <br /> of Batesville, Arkansas, described thus: Commencing at <br /> the Northeast Corner of Lot 5 of said Block 19 being the <br /> corner of a retaining wall and being the intersection of <br /> Main and Fourth Street; thence South 34 degrees 1 minute <br /> East 130 feet along the West side of Fourth Street to the <br /> Point of Beginning; thence continuing south 34 degrees 1 <br /> �w minute East 20 feet with the West side of Fourth Street <br /> to a metal spike in concrete; thence South 54 degrees 59 <br /> minutes West 130 feet parallel with Main Street to a nail ; <br /> thence North 34 degrees 1 minute West 20 feet parallel <br /> with Fourth Street to a point; thence North 54 degrees 59 <br /> minutes East 130 feet to the Point of Beginning, containing <br /> .06 acres, more or less. <br /> is hereby extended for the further term of fifty (50) years beginning on <br /> the 1st day of November, 1979, and ending on the 31st day of October, <br /> 2029 subject to the following terms and provisions. <br /> A. ) That for and in consideration of the sum of one <br /> dollar and for other valuable consideration , the <br /> receipt of which is hereby acknowledged, the term <br /> of this lease shall extend from the 1st day of <br /> November, 1979 to October 31st, 2029 and the lessee <br /> shall have the option to renew this lease for a re- <br /> newal period of fifty (50) years beginning on the <br /> 1st day of November, 2029. <br /> B. ) Upon termination of this lease agreement any improve- <br /> ments, alterations or additions made to the premises <br /> by lessee shall become the property of the lessor. <br /> C. ) The lessee has inspected and knows the condition of <br /> the leased premises and accepts said premises as is. <br /> It is understood that the leased premises are hereby <br />