HomeMy WebLinkAboutRES 82-04 R E S O L U T I O N
WHEREAS, by agreement dated February 4, 1980, the City of
Beaumont leased to Central City Hotel, Ltd . parking spaces in a
parking garage to be constructed in Block 13 of the Old Town of
Beaumont; and,
WHEREAS, said lease agreement contained an option
permitting Central City Hotel, Ltd . and others to purchase under
stated conditions a portion of the property upon which the parking
garage was to be constructed; and,
WHEREAS, construction of the parking garage has been
abandoned but efforts are continuing to construct the hotel which
would have been served by the parking garage;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the City Manager be, and he is hereby, authorized to execute
an amendment, attached hereto as Exhibit "A" , to the above-
described lease agreement extending the term of the option above
described.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the 5� day of
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EXHIBIT A
AMENDMENT TO LEASE AGREEMENT
RECITALS :
A. Under date of February 4, 1980, the City of Beaumont
( "LESSOR" ) and Central City Hotel, Ltd. ( "LESSEE" )
entered into a Lease Agreement (the "Lease" )
relating to parking spaces in a parking garage
contemplated to be constructed by LESSOR in Block 13
of the Old Town of Beaumont, Texas.
B . The LESSOR will not, however, construct the garage.
However, the LESSEE and/or Ben J. Rogers, Trustee
and/or Jay Arr Corp. are continuing efforts to
construct the hotel which the parking garage would
have served. The hotel, if constructed, will
require parking facilities.
NOW, THEREFORE, in consideration of the continued
efforts of the LESSEE and its related parties, Ben J. Rogers,
Trustee and Jay Arr Corp. , to provide a downtown hotel facility,
the LESSEE and the LESSOR agree that paragraph 5 of the Lease is
hereby amended to read as follows:
"5. Failure to Construct or Delay
LESSOR shall not be liable to LESSEE for any damages of
any kind resulting from LESSOR's failure to construct a parking
garage. LESSEE shall have the option of purchasing the
hereinafter described portion of land upon which the parking
garage was contemplated to be located if LESSEE commences
construction of the hotel on or before May 1, 1982. The land to
which this option applies is that which has been acquired by
LESSOR from Ben J. Rogers, Trustee and from the Lombardo Estate,
but does not include the so-called Community Services land. A
description of the land to which the option related is attached as
an Exhibit to this Lease. The purchase price shall be LESSOR's
cost in the land as determined from the books and records of
LESSOR. The option granted herein shall be exercised by LESSEE
by giving written notice to LESSOR on or before December 31, 1982.
In the event LESSEE exercises its option, the sale shall be closed
on or before 60 days after the date of the written notice to the
LESSOR exercising the option. The right to exercise the option
inures to Central City Hotel, Ltd . , Ben J. Rogers, Trustee, Jay
Arr Corp. , Inc. , or the nominees of either of them, as designated
by Jay Arr Corp. "
EXECUTED as of the first day of December, 1981.
LESSOR
CITY OF BEAUMONT
By: City Manager
ATTEST:
LESSEE
CENTRAL CITY HOTEL, LTD.
BY: General Partner
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