HomeMy WebLinkAbout2018-12-02-R (2) RESOLUTION NO. 2018-
CITY OF BATESVILLE,ARKANSAS
A RESOLUTION APPROVING ASSIGNMENT OF THE LEASE OF THE
LOCKHOUSE
WHEREAS, the City of Batesville currently leases the property known as the
"Lockhouse"to Steve Carpenter Property Management, LLC;
WHEREAS, Steve Carpenter Property Management, LLC wishes to assign said lease to
RBJM Leasing, LLC; and
WHEREAS, said assignment requires approval by the Batesville City Council.
NOW, THEREFORE,BE IT RESOLVED by the City Council of the City of Batesville,
Arkansas:
Section 1: That the Assignment of Lease of the property commonly known as the
Lockhouse from Steve Carpenter Property Management, LLC (Assignor)to RBJM Leasing,
LLC (Assignee) is hereby approved. A copy of said Assignment of Lease, containing the legal
description of the property covered by the Lease, including all options, is attached hereto and
incorporated herein by reference as"Exhibit A."
Section 2: The Mayor of the City of Batesville is hereby authorized to execute any
and all documents necessary to effectuate this assignment.
ADOPTED THIS DAY OF 2018.
APPROVED:
RIC L H, MAYOR
ATTEST:
D E JOHNSTON, CLTY CLERK
IIIIIIIII�IIIIIIIINIIIIIIIIIIIINIIINIIN
L201900613
INDEPENDENCE CO,AR FEE$145 00
PRESENTED:01-16-2019 03 15 41 PM
RECORDED:01-16-2019 03:15:41 PM
GREG WALLIS
CIRCUIT CLERK
BY VICKEY SMART
DEPUTY CLERK
BK: DEED 2019
PG: 278-304
CORRECTED ASSIGNMENT OF LEASE
KNOW ALL BY THESE PRESENTS:
That I, Steve Carpenter Property Management, LLC, (Assignor) by Steve
Carpenter, Managing Member duly authorized by the members of Grantor, for and in
consideration of$10.00 and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, does hereby transfer, set over and assign
to RBMJ Leasing, LLC, all its right, title and interest in and to that certain Lease
Agreement originally between the City of Batesville as Lessor and Lockhouse, Inc. as
Lessee dated August 13, 1999, as recorded in Book 2004, pages 2502-2514, as assigned
by Lockhouse, Inc. and others to First Community Bank to Grantor, and as approved by
the City of Batesville in a Lease Addendum dated March 24, 2015, which Grantor
recorded in Book 2015, pages 2612-2619 of the Independence County records, which
extended the lease on the property described in Exhibit A until March 24, 2055, with an
option to extend the said lease term for an additional 40 years to March 23, 2095, said
Lease Addendum being attached and incorporated herein by reference as if set out fully
herein, all of which was approved by the City of Batesville Resolution No. 2015-3-3-R
dated March 24, 2015, also attached. This Assignment includes the Lease, all lease
improvements, all options and all rights of any kind in and to the following described
property:
See attached Exhibit A
This Corrected Assignment of Lease is executed to correct a scrivener's error in the
Assignment of Lease dated and recorded January 3, 2019, recorded at Book 2019, pages
43-69.
Steve Carpenter Property
Management, LLC
BY 2�� r,.
Steve Carpenter, naging
Member
ACKNOWLEDGMENT
STATE OF ARKANSAS )
ss.
County of Independence )
On this 14 r= day of January, 2019, before me, a Notary Public, duly
commissioned, qualified and acting, within and for said County and State, appeared in
person the within named Steve Carpenter (being the person authorized by said limited
liability company to execute such instrument, stating his respective capacity in that
behalf), to me personally well known, who stated that he was the Managing Member of
Steve Carpenter Property Management, LLC, an Arkansas limited liability company, and
was duly authorized in his capacity to execute the forgoing instrument for and in the name
and behalf of said limited liability company, and further stated and acknowledged that he
had so signed, executed and delivered said foregoing instrument for the consideration,
uses and purposes therein mentioned and set forth.
r1+ IN TESTIMONY WHEREOF, I have hereunto set my hand and official
seal this ay of January 2019.
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RESOLUTION NO.2018-�=R
i
CITY OF BATESVILLE,ARKANSAS
A RESOLUTION APPROVING ASSIGNMENT OF THE LEASE OF THE
LOCKHOUSE
WHEREAS,the City of Batesville currently leases the property known as the
"Lockhouse"to Steve Carpenter Property Management, LLC;
WHEREAS, Steve Carpenter Property Management,LLC wishes to assign said lease to
RBJM Leasing,LLC;and
WHEREAS,said assignment requires approval by the Batesville City Council.
NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Batesville,
Arkansas:
Section 1: That the Assignment of Lease of the property commonly known as the
Lockhouse from Steve Carpenter Property Management, LLC(Assignor)to RBJM Leasing,
LLC(Assignee)is hereby approved. A copy of said Assignment of Lease,containing the legal
i description of the property covered by the Lease, including all options, is attached hereto and
incorporated herein by reference as"Exhibit A."
Section 2: The Mayor of the City of Batesville is hereby authorized to execute any
and all documents necessary to effectuate this assignment.
ADOPTED THIS DAY OF ,2018.
APPROVED:
RIC L H,MAYOR
ATTEST:
E JOHNSTON, C Y CLERK
Book 2019 Page 45
RESOLUTION NO. 2015-�
CITY OF BATESVILLE, ARKANSAS
A RESOLUTION AUTHORIZING THE MAYOR TO ENTER INTO A
LEASE ADDENDUM ON BEHALF OF THE CITY, MODIFYING
AND EXTENDING THE CURRENT LEASE AGREEMENT
WHEREAS,the City of Batesville currently leases property to Steve Carpenter upon
which he has operated his restaurant for several years;
i
WHEREAS,the restaurant located on the leased premises was recently destroyed by fire,
and Mr. Carpenter wishes to rebuild it on the property;
WHEREAS, in order to facilitate a substantial rebuild and re-investment in the structure,
it is necessary to modify and extend the current lease.
NOW,THEREFORE, BE IT RESOLVED by the City Council of the City of Batesville,
Arkansas:
Section 1. That the City of Batesville, Arkansas, hereby authorizes the Mayor to enter into
the Lease Addendum attached hereto as Exhibit A.
I
ADOPTED THIS 0;'4 DAY OF _, 2015.
APPROVED:
RICK ELUIVI , MAYOR
ATTEST:
DENISE JOHNST , CITY CLERK
Book 2019 Page 46
THIS INSTRUMENT PREPARED BY:
T.Lindsey Castleber ]
Attorney at Law V
500 East Main Street,Suite 301
Post Office Box 2604
Batesville,Arkansas 72503
(870)307.0050
LEASE ADDENDUM
WHEREAS,the City of Batesville("LESSOR")leased the lands described in
EXHIBIT"A"on January I, 1999, by Lease Agreement("Lease Agreement")recorded in
Deed Book 2004, Page 2505:
WHEREAS,the leasehold interest in the Lease Agreement was subsequently
assigned and ultimately transferred to Steve Carpenter,who currently possesses the
premises in accordance with the terms and conditions set forth in the aforesaid Lease
Agreement,
WHEREAS, Steve Carpenter's restaurant located on the demised premises
was recently destroyed by fire and he desires to rebuild on the demised premises;
WHEREAS, LESSOR and Steve Carpenter(hereinafter referred to as LESSEE)
wish to modify and extend the Lease Agreement in order to allow construction of a new
restaurant on the demised premises,and they commit the terms of the modification to
writing and for that purpose join in the execution of this instrument;
NOW,THEREFORE, in consideration of the premises,and in consideration of
the following conditions and agreements, the LESSOR and LESSEE agree that the
Lease Agreement remain in full force and effect and shall be modified as follows:
1. The lands hereby leased by LESSOR to LESSEE,and hereinafter referred to
as the demised premises,are situated in Batesville, Independence County, Arkansas,
and more particularly described as Lease No. I set forth in EXHIBIT"A",attached
hereto.
Book 2019 Page 47
2. The term of the Lease Agreement shall be extended by a period of FORTY(40)
years commencing on March 24,2015,and LESSEE shall have the option to extend the
lease for an additional FORTY(40)years upon the conclusion of the first extension, for a
possible total of EIGHTY(80)years from March 24,2015.
3. LESSOR understands that LESSEE desires to protect his investment in
improvements on his leasehold interest,and, to that end,LESSOR agrees to negotiate in
good faith from time to time with respect to future extensions of the Lease Agreement.
LESSEE shall have an exclusive right to negotiate with LESSOR for a period of six(6)
months after negotiations begin,and that period can be extended by agreement of the
parties.
4. Paragraph No. 6 of the Lease Agreement is modified to restrict the time period
during which LESSOR may review LESSEE'S architectural plans for improvements on
the demised premises to a period of ten(10)days.
5. LESSOR agrees that it will not unreasonably attempt to terminate the Lease
Agreement or the Lease Addendum for any breaches caused by an Act of Cod.
6. It is understood that LESSOR intends to relocate its equipment and structures
currently situated adjacent to and east of the demised premises, including a Work Shop
and Golf Cart Shed, described more accurately as Lease No. 2 in EXHBIT"A". In the
event LESSOR relocates those facilities, LESSEE shall have the right to enter the
premises described as Lease No. 2 in EXHIBIT "A", and LESSOR shall lease those
premises to LESSEE. LESSEE shall use the premises described as Lease No. 2 in
EXHBIT"A"for parking and shall pave the same in accordance with applicable City
Codes. The term for the lease of the land described as Lease No. 2 in EXHIBIT"A"shall
Book 2019 Page 48
begin when the City ceases its use of the property and end upon the termination of the
Lease Agreement or Lease Addendum, whichever occurs later.
EXECUTED in this 24'day of March, 2015.
LESSOR:
CITY OF BATESVILLE
By: -
Rick au , Mayor
LESSEE:
Steve Carpenter
By:- '— --
Steve Carpenter
ATTEST:
Book 2019 Page 49
ACKNOWLEDGMENT
�r
I
STATE OF ARKANSAS )
i )
COUNTY OF
i
Be it remembered, That on this day came before me, the undersigned,a
Notary Public within and for the county and state aforesaid, duly commissioned
and acting, Rick Elumbaugh, to me personally well known, who stated that he
was the Mayor of the CITY OF BATESVILLE, and was duly authorized in that
capacity to execute the foregoing instrument for and in the name and behalf of said
City of Batesville, and further stated and acknowledged that he had so signed,
executed and delivered said foregoing instrument for the consideration,used and
purposes therein mentioned and set forth.
Witness my hand and seal as such Notary Public on this o�-day of
-72] 1h , 2015.
Notary Publicd
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Book 2019 Page 50
ACKNOWLEDGMENT
STATE OF ARKANSAS )
COUNTY OF J"z-)ymd,,nry )
Be it remembered, That on this day came before me, the undersigned, a
Notary Public within and for the county and state aforesaid,duly commissioned
and acting, Steve Carpenter, to me personally well known, who stated that he had
executed the same for the consideration and purposed therein mentioned and set
forth.
Witness my hand and seal as such Notary Public on thisAls-day of
Notary Public
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My Commission Expires:
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1 certify under penalty of false swearing that at least the legally correct
amount of documentary stamps have been placed on this instrument.
Agent/ Grantee
Address
Book 2019 Page 51
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LEASE DESCRIPTION No. I r
A tract of land being a part of the East 1/2. NE 1/4,
of Section 2L T 13 N, R 6 K
In the City of Batesville. Independence County, Arkansas,
sore particularly described as follows:
Coneencinp at the northeast corner of said Section 21.
thence N 80'W'00" W. 1330.955 feet.
thence S 00*00'00' E, 1730.85 feet to the point of beginning:
thence N 63'53'04' E, 192.50 feet:
thence S 36'38'34' E, 46.69 feet;
thence S 61'36'47' E, 34.00 feet;
thence S 37-25.51: E. 72.59 toot:
thence 9 51137'21E, 37.00 feet;
thence S 55*09*42' W. 85.00 feet;
thence 9 34-27:37: E. 48.00 feet;
thence S 5513223W. 54.00 feet:
thence S 34.38'21' E. 167.95 feet;
thence S 54'35'24' W, 45.65 feet to a point
on the high bank of White River:
thence along said high bank the following:
N 41'31'16' W, 114.00 fast;
N 50'46'25' 11, e2.51 feet;
thence leavinp said hi bank. N 32.16'19' W. 109.00:
thence N 34.22'45' E. 10.00 feet:
thence N 36'30'43" W, 125.10 feet to the point of beginning.
This tract contains 1.32 acres, sore or less, and is subject to any
W. W all easements.
ASE DESCRIPTION No. 2
���fff111 tract of land being a part of the East 1/2. NE 1/4.
of Section 21. T 13 N R 6 W.
in the City of Batesville. Independence County. Arkansas,
more particularly described as follows:
Commencing at the northeast corner of said Section 21,
thence N go'00'00' W. 1330.95 feet;
thence 8 00'00'00' E, 1730.85 feet:
thence N 53'53 04' E. 192.50 fact;
thence S 36'38'34' E. 46.69 feet:
thence 8 61'38'47' E. 34.00 feet;
thence S 3725'51' E, 72.59 f set;
thence 5 51'37'21' E, 37.00 feet to the poant on beginning;
thence continue 6 51'97'21' E. 6.38 feet.
thence 8 58'00'06' E, 35.96 lost;
thence S 59'29'22' E. 95.23 fast to an existing metal bar
on the •pterly line of the City of Set avills property:
thence along said easterly line the tol�owino:
S 63'22'24: M. 79.60 feet;
S 34.50'36 E. 99.00 too ;
... .11. r ••s'P ac 0..i Book 2019 Page 52
O04 2502
ecorded in the Above
Deed Gaol, b Page
C'64j9-201.4 12;Sn:ay FM
ASSIGNMENT OF LEASE Claudia Nobles Circuit Clerk
IWevenderKe County, AR
This Assignment of Lease(hereinafter referred to as the"Assignment')is trade and
entered into this 29 day of January,2004,by and between First Community Bank
(hereinafter referred to as "Assignor")and Steve Carpenter Property Management, LLC
(hereinafter referred to as"Assignee").
Assignor,for and in consideration of the sum of Ten Dollars($10.00)and other good
and valuable consideration,does hereby transfer and assign unto Assignee,all of its rights,
title and interest in and to that certain Lease Agreement between the City of Batesville,as
Lessor,and Lockhouse,Inc.,as Leasee dated August 13, 1999(herein referred to as the
"Lease Agreement"),the terms and conditions of which are hereby incorporated by reference.
A true and accurate copy of the Lease Agreement is attached hereto as Exhibit A.
Assignor does hereby warrant that it is in compliance with all of the terms of the Lease
Agreement,that the Lease Agreement is not in default,and that there are no.liens and
encumbrances against it.
This Assignment is given without recourse.
As to Assignor,this29'6day of January,2004.
First Comm ty B
By:
3k,
Dale Cole, CEO
As to Assignee,this A day of January,2004.
Steve Carpenter Property Management,LLC
By: I.,
Steve Carpenter,M#Mbcr
l
Book 2019 Page 53
0 2004 2503
Recorded in tree Above
ACKNOWLEDGEMENT U-M $salt 8 Pat
State of Arkansas )
)ss.
County of Independence )
On this day before the undersigned personalty appeared Steve Carpenter,known to me
to be a member of Steve Carpenter Property Management,LLC,and duly authorized in his
capacity as member to execute the foregoing instrument for and in the name and behalf of
said Steve Carpenter Property Management,LLC,and further stated and w4wwledged that
he had so signed,executed and delivered the foregoing instrument for the consideration,uses
and purposes therein mentioned and set forth.
In Witness Whereof, I hereunto set my hand and official seal thmy of
2004. MtpFR
NQ1G No ary Public
My Commission Expires: Pub
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Book 2019 Page 54
1t1Jbl 1KUMLNJ r "WOT:
i
Robin D.Stroud F, T,
Attorney at law "
500 East Main Street,Stc.201 '-
t at'. 0 i 336 f
P.O.Box 2135
Batesville,AR 72503
(870)793.8350 `
LEASE AGREEMENT
KNOW ALL BY THESE PRESENTS. I
WHEREAS, the City of Batesville, hereinafter referred to as
("LESSOR") has agreed to lease to Lockhouse, Inc. (hereinafter referred to as
"LESSEE"), the lands hereinafter described upon the terms and conditions set forth
herein; and,
WHEREAS, LESSOR and LESSEE desire to commit the terms of their
agreement to writing and for that purpose join in the execution of this instrument.
NOW, THEREFORE, in consideration of the premises, and in
consideration of the following conditions and agreements, the LESSOR hereby leases,
demises and lets to the LESSEE the lands hereinafter described upon the terms and
conditions set forth herein:
1. The lands hereby leased by LESSOR to LESSEE, and hereinafter
referred to as the demised premises, are situated in Batesville, Independence County,
Arkansas, and are more particularly described as follows:
SEE EXHIBIT "A" ATTACHED.
EXHIBIT "A"
Book 2019 Page 55
:D_
2. The initial term of this lease shall be a period of TWENTY (20) years
commencing on August 1, 1999.
3. The rental for the initial term of this lease shall be the sum of ONE
HUNDRED & NO/100 DOLLARS ($100.00) per month (the "Base Rent") for the
FIRST (1') through the TWO HUNDRED FORTIETH (240') payment. All
payments shall be payable on the first day of the initial term of this lease and the same
day of each succeeding month.
4. The taxes, if any, on the demised premises shall, during the initial
term and any renewal term of this lease, be paid by LESSEE.
5. LESSEE shall provide and keep in force, throughout the term of this
Lease Agreement, or any renewals thereof, for the benefit of LESSEE and LESSOR,
general liability insurance policies on standard Arkansas forms of not less than
$1,000,000.00 bodily injury (including death), and $50,000.00 property damage,with
certificates of such insurance to be furnished to LESSOR. LESSEE shall also carry
fire, windstorm and other casualty insurance upon the improvements on the demised
premises with an insurance company authorized to do business within the State of
Arkansas, the amount of such insurance to be not less than the fair market value of the
insurable improvements upon the demised premises, and payable to any mortgagee of
the LESSEE's leasehold interest, LESSEE and LESSOR as their interests appear.
I, Certificates of such insurance shall be furnished to all loss payees. For purposes of this
2
Book 2019 Page 56
Lease, the parties agree that the interest of LESSW In the premises Is $20,000.00 and
in the event of a covered loss, LESSOR shall be entitled to receive that amount from
the insurance proceeds. In the event of destruction by fire, windstorm or other
casualty the LESSEE shall, at its option, have the right to utilize the insurance
proceeds to repair or rebuild the premises (in which event the LESSOR should retain
its insurable interest in the premises) or to declare the Lease terminated without
further liability after payment to LESSOR of its interest in the property as set out
hereinabove.
6. There is currently a residential structure located on the premises.
LESSEE proposes to enlarge the structure substantially and make improvements
thereto and utilize it for a restaurant and other purposes consistent therewith.
LESSOR covenants that the premises are zoned suitably for such purpose. LESSEE
shall make the floor plans for improvements available to LESSOR for approval. In the
event LESSOR disapproves, LESSEE shall have the option to either terminate the lease
without liability or to modify the plans to LESSOR's satisfaction. All improvements
shall be constructed in accordance with the applicable building, plumbing and wiring
codes.
7. Upon the termination of this lease, title to all improvements on the
demised premises shall vest in the LESSOR. Provided, however, title to all fixtures,
trade fixtures and other personal property shall remain in the LESSEE and may be
3
Book 2019 Page 57
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removed by LESSEE provided that LESSEE shall repair any damages mi e, , p p g to the pre s s
caused by such removal.
8. LESSEE agrees to maintain the demised premises in a safe and sanitary
I condition and further agree that it shall engage in no unlawful activities upon the
demised premises nor to allow any activities or conditions to exist thereon which
would constitute a nuisance. LESSOR reserves the right to inspect the premises at any
I
reasonable time.
9. LESSOR agrees that LESSEE shall have full and exclusive possession
i
I
of the demised premises during the term of this lease, and LESSOR further warrants
that LESSEE shall have quiet possession of the demised premises and LESSOR shall
defend LESSEE against any adverse claim to the right of possession of the demised
premises during the term of this lease.
10. LESSEE is hereby given and granted the option to renew and extend
is lease for FOUR (4) additional FIVE (5) year terms, each renewal term to
commence at the expiration of the preceding term. Any of the options granted to
LESSEE may be exercised by LESSEE only if LESSEE is not in default under this
Lease Agreement at the time of such exercise. An option to renew and extend must be
exercised, if at all, by the giving of written notice to the LESSOR by LESSEE not less
than NINETY (90) days prior to the expiration of the original term of this lease or of
a renewal term then in effect, as the case may be. The monthly rental for the first
4
Book 2019 Page 58
•_•fit;^:. .:..`_•;�r: .1
I
renewal term shall be determined by reference to the change in the United States
Department of Labor Consumer Price Index, All Items, Urban Consumers applicable
to the Little Rock, Arkansas, region (the "CPI") from the time of execution of this
lease until the end of the first term of this lease, but in no event shall the initial rent
for the first renewal term be decreased nor shall it exceed $200.00 per month. The
rental for each additional term shall be determined in the same manner, referencing
the change in the CPI from the beginning of the preceding term and the end of the
preceding term. In the event that the computation of the adjusted monthly rent is
delayed because the CPI has not yet been released or for any other reason, said
computation shall be made as soon as reasonably possible thereafter, and once said
computation is completed, LESSEE shall make payments of the adjusted monthly rent
retroactive to the Renewal Date of the applicable year. If the CPI is changed from the
current base year (i.e., 1967 = 100), the CPI shall be converted in accordance with the
conversion factor published by the U. S. Department of Labor. If the CPI is
discontinued or revised during the term, such other government index or computation
with which it is replaced shall be used in order to obtain substantially the same result.
11. Upon the termination of this Lease Agreement, the LESSEE agrees
to immediately surrender possession of the demised premises to the LESSOR, and
LESSOR shall not be guilty of trespass nor in any way liable to LESSEE for retaking
possession of the demised premises in such event.
5
Book 2019 Page 59
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12. LESSEE shall keep all improvements upon the demised premises in a
good state of repair during the term of this lease and the cost thereof shall be borne by
LESSEE.
13. In the event of any material breach of this Lease Agreement,
LESSOR shall have the option of giving LESSEE THIRTY (30) days' written notice to
cure such breach, and if LESSEE fails to do so within THIRTY (30) days from receipt
of such written notice, LESSOR shall have the option of immediately terminating this
Lease Agreement. The failure of LESSOR to exercise this option as regards any
particular breach shall in no event be construed as a waiver of his option to terminate
the Lease Agreement with respect to any future breach.
r` 14. In the event that LESSEE should be adjudicated a bankrupt,or its
assets placed in receivership, then this Lease Agreement shall, without notice, be
immediately terminated, and in such event, the provisions of paragraph 7 hereof shall
be fully applicable.
15. In the event the LESSEE shall desire to terminate this lease, prior to
the expiration of the regular term hereof, then it shall have the option of doing so,
provided that notice of their intentions to do so is given to LESSOR at least ONE
HUNDRED EIGHTY (180) days prior to the date of such termination. This privilege
to terminate shall not apply in the event the improvements on the premises are
destroyed.
6
Book 2019 Page 60
• �!;...''?_. i t �?,E -XI '
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16. In the event of the taking by a competent authority for any public
use or purposes of the premises or a substantial part thereof(including public access
and parking) so that in the opinion of the LESSEE the remaining portion is unusable
for the purposes of LESSEE, then the term hereby granted shall cease on the day prior
to vesting title in such authority. Rent shall be paid to and adjusted as to that day and
this Lease Agreement shall terminate on that day. The condemnation award, in such
event, shall be payable to LESSOR and LESSEE. As between such parties, the award
shall be distributed first to LESSEE to the extent of the LESSEE's financial investment
in the improvements made by them to the premises or the fair market value of the
remainder of the leasehold, whichever is greater, and second to LESSOR to the full
extent of its investment in the improvements made to the premises, and, third, the
balance, if any, distributed between the parties in the proportion of the division made
as set out above.
In the event that only part of the premises is taken, then the LESSEE
may, at its option, retain the remainder of the premises and restore the premises to a
tenantable condition forthwith and may use the condemnation awards for such
purposes and the balance, if any, payable to LESSOR.
17. This agreement shall be binding upon the parties hereto, their
successors, heirs, administrators, executors and assigns. LESSEE may sublease the
demised premises to a corporation or other entity formed by it for the purposes
7
Book 2019 Page 61
stated herein, provided that such shall in no way affect LESSOR's rights or LESSEE's
duties hereunder. No other subletting shall be permitted without the express written
consent of LESSOR, which shall not be unreasonably withheld.
18. It is understood that LESSEE intends to obtain financing from a
bank for the purpose of raising funds with which to make certain leasehold
improvements and place trade fixtures on the property, and that such bank shall
require a collateral assignment and/or a mortgage of LESSEE's leasehold interest in the
I
property. LESSOR hereby consents to such assignment. LESSOR does further
hereby consent that any bank holding the collateral assignment as security for the
construction loan or permanent loan on the improvements shall be entitled to assume
all of LESSEE's rights and obligations hereunder and have THIRTY (30) days from
notice of default to cure same.
19. LESSOR agrees that it will notify LESSEE if, within the term of the
lease, the LESSOR intends to sell the premises and LESSEE shall have a period of
THIRTY (30) days within to agree to purchase the property upon the same terms and
conditions of any bona fide offer received by LESSOR for the purchase of the
property. LESSOR shall give such notice, in writing, by certified mail. The election
to purchase pursuant to this right of first refusal shall be, in order to be effective, in
writing, addressed to LESSOR, at the address provided herein for all other notices, by
certified mail, postage prepaid and postmarked not later than midnight on the
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Book 2019 Page 62
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THIRTIETH (30ie) day after notice has been received by LESSEE at the address
provided herein for all other notices.
20. All notices required or permitted to be given hereunder shall be
given in writing and shall be sent by certified United States mail, return receipt
requested, postage prepaid, addressed as follows (or to such other address to which any
party hereto shall have given the other written notice):
If to LESSOR: City of Batesville
500 East Main Street
Batesville, AR 72501
If to LESSEE: Lockhouse, Inc.
140 Dixie Street
Batesville, Arkansas 72501
Notice to any LESSOR or any LESSEE shall be deemed notice to all LESSORS or
LESSEES.
21. It is agreed by the parties hereto that the foregoing terms of this
Lease Agreement express and embody the entire agreement of the parties hereto
concerning the demised premises and the lease thereof. This Lease Agreement is
binding upon personal representatives, heirs, successors and assigns of all parties.
EXECUTED in duplicate originals this day of August, 1999.
LESSOR:
CITY OF BATESVILLE
By: 4�-
e Biard, Mayor
9
Book 2019 Page 63
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A C.
51
LESSEE:
LOCKH SE, INC
A"-By.
Danny Dozler,'PreAdent
ATTEST:
lCathy d6zier, Secretary
ACKNOWLEDGMENT
STATE OF ARKANSAS )
) ss.
County of Independence )
On this day, before me, a Notary Public duly commissioned, qualified
and acting, within and for the said County and State, appeared in person the within
named Joe Biard, to me personally well known, who stated that he was the Mayor of
the CITY OF BATESVILLE, and was duly authorized in that capacity to execute
the foregoing instrument for and in the name and behalf of said City of Batesville,
and further stated and acknowledged that he had so signed, executed and delivered
said foregoing instrument for the consideration, uses and purposes therein mentioned
and set forth.
IN TESTIMONY WHEREOF, I have hereunto set my hand and
official seal on this 13tA day of August, 1999.
Notary Public
My Commission Expires:
(W 3 92�009
10
Book 2019 Page 64
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ACKNOWLEDGMENT
STATE OF ARKANSAS
) 5s,
County of Independence
On this day, before me, a Notary Public duly commissioned, qualified
and acting, within and for the said County and State, appeared in person the within
named Danny Dozier and Cathy Dozier, to me personally well known, who stated
that they were the President and Secretary of LOCKHOUSE, INC., a corporation,
and were duly authorized in their respective capacities to execute the foregoing
instrument for and in the name and behalf of said corporation, and further stated and
acknowledged that they had so signed, executed and delivered said foregoing
instrument for the consideration, uses and purposes therein mentioned and set forth.
IN TESTIMONY WHEREOF, I have hereunto set my hand and
official sea] on this Lj5day of August, 1999.
iW Notary Public T�
My Commission Expires:
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..-ertify oias instrup.ert
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11
Book 2019 Page 65
FOP, DIC/1
14657
e-a-ded in tit? kwe
VC-4 51 ir,,s�z Look I Fay
ASSIGNMENT �'=t-1 j-�,fft� .7D08:0E. PM
�iaudia k�t1�5 �irn;it C12ri: �
in�tgr: r:e C-5;nb, AR
This assignment is made on the 13TH day of AUGUST ,
2003, by Lockbouse SOBA, LLC, and Randy and Lisa Palmer,
individually, and Jeff and Kathy Davis, individually,
hereinafter referred to as the Assignors and First Community
Bank of Batesville, Arkansas referred to as the Assignee.
The Assignor hereby assigns to the Assignee all of
its or their right, title and interest in and to a certain
lease hold mortgage agreement of date October 25, 2001 and
filed in Deed of Trust Book R-22, at pages 153-160 of the
Records of Independence County, Arkansas.
To have and to hold the same unto the Assignee and unto
the successors, legal representatives, and assigns of the ,
assignee forever.
LOPPOYSE SOBA LLC
jjZ-3
Palmer R y P mer
n ielua 1 y
L s a er L sa Pka mer
Individually
Jeff v s Jeff Vavis
I duall `rJLIA
�+
.,Jlp
Ka by D s Kathy Da e
Individually
Book 2019 Page 66
. �
EXKMIT"A" TO MORTGAGE wcrtad in t're -.tcve
(LOCKHOUSE S.O.B.A.,LLC ) Ce`i cf Try;. t;,wk l aPt
A Leasehold interest in the following described lands:
A tract of land being a part of the NE 114 of Section 21, Township 13 North, Range 6 West in the
City of Batesville, Independence County. Arkansas, more particularly described as follows:
Commencing at the Northeast corner of said Section 21;thence North 90 degrees 00 minutes 00
seconds West, 1337.85 feet; thence South 00 degrees 00 minutes 00 seconds West, 1726.74 feet
to the point of beginning;thence North 64 degrees 05 minutes 30 seconds East, 138.85 fat to the
Nominal South edge of an asphalt road; thence along said nominal South edge the following;
South 65 degrees 57 minutes 18 seconds East, 11.71 feet;South 47 degrees O t minutes 15 seconds
Fast, 20.33 feet;along a curve to the left said curve having a long chord bearing of Sault 77
degrees 21 minutes 21 seconds East a long chord distance of 51.81 feet; North 72 degrees 18
minutes 32 seconds East, 14.86 feet, along a curve to the right said curve having a long chord
bearing of South 72 degrees 27 mtr ums 30 seconds East a long chord distance of 15.35 feet; South
37 degrees 13 minutes 33 seconds East, 72.58 feet; South 12 degrees 31 minutes 24 seconds East,
12.99 feet to the nominal North edge of a crushed stone driveway thence along said nominal North
edge the following; South 37 degrees 11 minutes 19 seconds West, 33.77 feet;South 60 degrees
16 minutes 20 seconds West, 15.53 feet South 12 degrees 44 minutes 30 seconds West, 56.03
feet; South 33 degrees 31 mimics 55 seconds West, 21.12 feet; thence South 59 degrees 40
mimms 33 seconds West,97.91 feet to the nominal East face of a rock wall; thence North 32
degrees 05 minutes 47 seconds West along said nominal East face and along the extension of said
east face,237.90 feet to the point of beginning. Containing 0.95 acres,more or less,subject to
any and all easements.
Also the following two road access easements:
#1 Road Easement Description
A tract of land being a part of the NE 114 of Section 21, Township 13 North,Runge 6 West in the
City of Batesville,independeoce County, Arkansas,more particularly described as follows;
Commencing at the Northeast corner of said Section 21, thence North 90 degrees 00 minutes 00
seconds West, 1337.95 feet; thence South 00 degrees 00 mimms 00 seconds West, 1726.74 feet;
thence North 64 degrees 05 minutes 30 seconds East, 28.14 feet to the point of beginning;thence
North 43 degrees 31 minutes 54 seconds West, 11.67 fat to the nominal Sauk edge of an asphalt
road; thence along said nominal Satoh edge the following; North 65 degrees 33 minutes 34
seconds East,96,81 fat;along a curve to the right said curve having a long chord beating of
South 89 degrees 34 minutes 33 seconds East a long chord distance of 19.49 feet; thence South 64
degrees 05 minutes 30 seconds West, 110.71 feet to the point of beginning. Corahfng 0.02
acres, more or less.
#2 Road Fa_sement Description
A tract of land being a part of the NE 114 of Section 21,Township 13 North, Range 6 west in the
City of Batesville. Independence Cotmty, Arkansas, more particularly described as follows:
Commencing at the Northeast corner of said Section 21;thence North 90 degrees W minutes 00
Book 2019 Page 67
`„)003 14660
Gp(nrde.j jr, t'"2 .koy '2
ACKNOWLEDGMENT
STATE OF ARKANSAS j
SS.
COUNTY OF INDEPENDENCE )
On this day before the undersigned personally appeared
Randy and Lisa Palmer, individually, and Jeff and Kathy
Davis, individually, known to me to be the persons whose
names are subscribed to the within instrument and
acknowledged that they had executed the same for the purposes
therein contained.
In Witness Whereof, I hereunto set my hand and official
seal this 15 —day of/�tv_��", 2003.
(w,/t"'-DhV%
Case..
Notary Pftblic
My Commission Expires:
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Book 2019 Page 69