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Home My WebLink AboutRES.975.08-15-1994 l. , BILL NO. 94-214 RESOLUTION NO. '�/r°; A RESOLUTION AUTHORIZING THE CITY TO EXECUTE AN OPTION TO LEASE REAL ESTATE WITH LEOPOLD CORPORATION FOR LAND AT THE CAPE GIRARDEAU MUNICIPAL AIRPORT BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: ARTICLE l. The City Manager, for and on behalf of the City of Cape Girardeau, Missouri, is hereby authorized to execute an Option to Lease Real Estate with Leopold Corporation, a Missouri Corporation, for land at the Cape Girardeau Municipal Airport. A copy of said Option is attached to this Resolution and made a part hereof. F�� . �; �'�/ PASSED AND ADOPTED THIS ..i,tt( DAY OF ��.�G,!�.'it , 19 1`/ . �� _, � C�.- f.i' r`�,,`�. % � A. M. radling, III, Mayor , ATTEST: ,�. ;,, ;. „ Gayle : . Conrad Deputy City Clerk �� . � r OPTION TO LEASE REAL ESTATE THIS AGREEMENT, entered into this day of August, 1994, by and between the CITY OF CAPE GIRARDEAU, MISSOURI, a Municipal Corporation, hereinafter referred to as "City" and LEOPOLD CORPORATION, a Missouri Corporation, hereinafter referred to as "Leopold" ; WITNESSETH: 1. Leopold agrees to pay to the City and the City agrees to accept from Leopold the sum of One Dollar ($1. 00) as and for the consideration for an option to lease certain real estate owned by the City and desired for leasing by Leopold for aviation related business, said property is located at the Cape Girardeau Municipal Airport in Scott County, Missouri, and the tract which is the subject of this Lease Option is described as follows: 7. 6 acres, more or less, of open area on the North side of the Airport Terminal Ramp bounded as shown on the attached map by the points described as follows: Beginning at the intersection of the eastern edge of Taxiway E and the North edge of the terminal Ramp (Pt. A) and running northwest along the eastern edge of Taxiway E for approximately 1100 feet to the intersection of Taxiways E and F (Pt. B) ; then running South, southeast along the southern edge of Taxiway F for approximately 700 feet to the intersection of Taxiway F and the western edge of the Cape Central Airways (CCA) "T" Hangar Ramp (Pt. C) ; then running South along the western edge of the CCA "T" Hangar Ramp for approximately 950 feet to the intersection of the extended line to the South of the western edge of the CCA "T" Hangar Ramp and the Northeast corner of the terminal employee parking lot (Pt. D) ; then running West for approximately 140 feet to intersect the Western edge of the terminal ramp (Pt. D1) ; then running North for 150 feet to the Northeast corner of the terminal ramp (Pt. DZ) ; then running West along the northern edge of the Terminal Ramp for approximately 300 feet back to Pt. A. Excluded from the area described above and from the total acreage of 7 . 6 acres is the area surrounding the City "T" Hangars bounded by Pt.s E, F, G, and H; measuring approximately 150 feet on the West and East sides and 300 feet on the North and South sides. (Note: Area is defined by the outer edges of the asphalt taxiways surrounding the City "T" Hangar. ) See attached drawing marked Exhibit "A" and incorporated into this Agreement for a depiction of the reference points set out in the above description. 2 . The parties agree that Leopold must exercise its Option prior to six (6) months from the date of the execution of this Agreement. Leopold will exercise its option by providing written � . } Q � notice to that effect to the Cape Girardeau City Manager at 401 Independence Street, Cape Girardeau, Missouri 63701. Failure to exercise the Option will result in a release of Leopold's rights under this Option Agreement. 3 . If Leopold exercises its Option pursuant to this Agreement, then terms of a Lease Agreement between the City and Leopold for the above described tract will be negotiated between the parties. The parties must agree on the lease terms within sixty (60) days of the exercise of the Option by Leopold or if the parties fail to reach agreement within sixty (60) days as to the terms and conditions in final form of a Lease Agreement, the parties are therefore released from their obligations hereunder. The parties may extend the sixty (60) day negotiation period by mutual agreement. 4 . The City will not lease or sell or otherwise convey its interest in the above described property during the Option period or during the sixty (60) days negotiation period or any extension thereof. 5. This Agreement is binding upon the successors and assigns of the parties, but the parties agree that neither party may assign its interest in this Agreement without the express written consent of the other party. CITY OF CAPE GIRARDEAU, MISSOURI J. Ronald Fischer, City Manager ATTEST: Gayle L. Conrad, Deputy City Clerk LEOPOLD CORPORATION William F. Florich, President ATTEST: [Typed Name of Secretary] -2- �. CFP.E . GIRRRDERU .RIRPORT TEL � 1-314-334-0499 Jul 11 ,94 15 � 44 No .002 P .03 . \ � ` Q■ -�. I � � _ _ _ '_ _ � _� � N O ��. �3�' . � p Lot. J�'13'S7' � T lonq. 69'J�'0�' ' ` � ' �l T�r I I � e �AY F � p 500 1000 �500 / / �� f C \ �I ` � SCALF. 1N F�ET � � � , � \ � / y ci1Y ,� O -. / � "T" HANGAR o \ � � r G J ,� � � � o � � , i � `\ o E 300•K TRAC7 13 � �� DZ � \ L... \ � 300�' ��e � Di D IMN.�� ` \ • ��' \ TRIICT 11 �; , . oF �� Antenno � � �`\� � \ I � \ � ;WAY A � � - — — m ._._—— — _.,.. � �— _%�� ■ aACT �2 Q � � � L 1 11 J �r � = = — � _ Q TRACT 14 � I � � I . . � � ~ �y >4�w r TAX�k,AY C I BVi7dFn9 Restr��;on \ � �� Pofj_ � li�e \ �� '�- . 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