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2022-08-03-R
CITY-OF-BATESVILLE
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2022-08-03-R
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2/9/2023 11:10:50 AM
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EXHIBIT `B" <br /> LEASE AGREEMENT <br /> WHEREAS,the Bad Boy Mower, LLC Company,hereinafter referred to as ("Lessor")has <br /> agreed to lease to the City of Batesville hereinafter referred to as ("Lessee"), the lands hereinafter <br /> described upon the terms and conditions set forth herein; and <br /> WHEREAS, LESSOR and LESSEE desire to commit the terms of their agreement to <br /> writing and for that purpose join in the execution of this instrument. <br /> NOW, THEREFORE, in consideration of the premises, and in consideration of the <br /> following conditions and agreements,the LESSOR hereby leases, demises and lets to the LESSEE <br /> the lands hereinafter described upon the terms and conditions set forth herein: <br /> 1. The lands hereby leased by LESSOR to LESSEE, and hereinafter referred to as the <br /> demised premises, are situated in Batesville, Independence County, Arkansas, and more <br /> particularly described as the office building, shops, and contiguous parking lot located at 51 <br /> Industrial Drive Batesville,Arkansas commonly known as the Batesville Police Department. Said <br /> leasehold being more particularly described in Exhibit "A" which is attached to the Real Estate <br /> Purchase agreement executed contemporaneously with this lease agreement. <br /> 2. The initial term of this lease shall be a period of (1) One year commencing on <br /> , 2022. <br /> 3. The rental for the term of this lease shall be the sum of(10)ten dollars for the entire <br /> one-year lease. <br /> 4. That it is the intent of the Lessee to leave said leasehold as soon as Lessee is able <br /> to move into another property suitable to house the Batesville Police Department. Lessee shall <br /> give Lessor sixty days notice of its intent to leave the Lease. Should Lessee be unable to secure <br /> another appropriate property within one year, said lease shall become a month-to-month tenancy, <br /> with monthly payments of five-thousand dollars ($5,000) per month being due to the first day of <br /> the initial term and the same day of each succeeding month. City shall have a duty to use due <br /> diligence in acquiring adequate facilities to house the Batesville Police Department. Failure of <br /> the Lessee to use all due diligence in said acquisition shall constitute default. Lessor will not end <br /> said monthly tenancy so long as Lessee is using due diligence to secure another location for the <br /> Batesville Police department. Absent another agreement by the parties this lease will terminate <br /> twenty-four months after the day the lease term begins. <br /> 5. The taxes, if any, on the demised premises shall, during the initial term and any <br /> renewal term of the lease, be paid by LESSOR. <br /> 6. LESSOR shall provide, carry, and keep in fore, throughout the term of this Lease <br /> Agreement, or any renewals thereof, fire, windstorm, and other casualty insurance upon the <br />
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