HomeMy WebLinkAboutRES.290.10-19-1987 BILL N0. 87-197 RESOLUTION N0. 290
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
ENTER INTO A LEASE AGREEMENT WITH OPTION TO
PURCHASE REAL ESTATE WITH ATLAS PLASTICS
CORPORATION (DBA-ATLAS-ALCHEM PLASTICS )
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU,
MISSOURI, AS FOLLOWS:
SECTION 1 . The City Manager on behalf of the City of Cape
Girardeau , Missouri , is hereby authorized to enter into a Lease
Agreement with Option to Purchase Real Estate with Atlas Plastics
Corporation ( DBA-Atlas-Alchem Plastics ) . A copy of said Lease
Agreement is attached to this resolution and made a part hereof .
PASSED AND ADOPTED THIS 19th DAY OF OCTOBER, 1987 .
L-�--l��E'Y
Curtis S . Smith, Mayor Pro Tem
ATTEST:
�
.
Alvin M. Stoverink , City Clerk
LFASE AGREEMENT WITH OPTION TO PURCHASE REAL ESTATE
This Contract , made and entered into this day
of , 1987 , by and between tYle City of Cape
Girardeau , Missouri , a Municipal Corporation, acting by and
through its City Manager as authorized by the City Council ,
hereinafter called "Landlord" , and Atlas Plastics Corporation
( DBA-Atlas-Alchem Plastics ) , a Missouri Corporation, authorized to
do business in Missouri , hereinafter referred to as "Tenant " ;
WITNESSETH :
1 . Landlord agrees to lease to Tenant a tract of land
located in the City of Cape Girardeau , Missouri , and presently
owne� by Landlord and located in Arena Park and adjacent to
property currently owned by the Tenant . This tract which is the
subject of this agreement is located immediately West of a tract
currently owned by Tenant and abuts Tenant ' s present real estate .
The tract which is the subject of this Agreement is approximately
five hundred ( 500 ) feet long and fifty ( 50) feet wide and is shown
on the exhibit which is attached hereto and marked Exhibit A and
made part of this Agreement by reference .
2 . The parties agree that Tenant will lease the abov�
described tract for a period of up to one ( 1 ) year for rent of One
Dollar (�1 .00 ) per year , said rent payable upon the execution of
this contract and agreement .
3 . It is agreed by and between the parties that during the
course of this one ( 1 ) year lease period, Tenant shall have the
option to purchase said tract for the sum of One Hundred Dollars
( $100 . 00 ) . In addition to the cash price for the property, Tenant
agrees that the following conditions must be met in order for it
to exercise this option to purchase:
A . Trie Tenant agrees to construct an appropriate fence
on the North, West and South boundaries of the
property to divide this tract from the remaining of
the City 's land in Arena Park . It is agreed between
the parties that such fence shall be of a practical
and aesthetic nature which is mutually agreeable
between the parties .
B . Tenant agrees to remove existing buildings on the
tract which were formerly used for an aninal shelter
and Landlord agrees to provide assistance in the
removal of the debris from the removal of these
buidings .
C . Tenant agrees to provide and purchase appropriate
trees and shrubs for landscaping of Landlord ' s
remaining property in Arena Park and Landlord agrees
to provide the cost and labor of planting such trees
and shrubs .
4 . It is agreed by and between the parties that Tenant must
exercise its option to purchase this property within one ( 1 ) year
from the date of execution of this agreement and that this lease
period will run for a period of one ( 1 ) year from the date of
execution of this agreement and that neither the option to
purchase nor the lease is automatically renewable . This agreement
will continue for a period of one ( 1 ) year and neither party may
terminate the agreement within that period unless both parties
agree to such termination .
5 . It is agreed by and between the parties that the purpose
of this lease agreement witl� its option to purchase the land is to
enable Tenant to construct an addition to its existing building
located on property adjoining the above described property which
is to be conveyed .
6 . This contract is binding upon the parties hereto and
their successors and assigns .
IN WITNESS WHEREOF, the City of Cape Girardeau , Missouri , has
caused this agreement to be signed and executed by its City
Manager and attested by its City Clerk with the corporate seal of
the City and Atlas Plastics Corporation (DBA-Atlas-Alchem
Plastics ) has hereto by and through its authorized representative
affixed its name the day and year first above written.
CITY OF CAPE GIk2ARDEAU, P4ISSOURI
Gary A. Eide , City Manager
ATTEST :
Alvin M. Stoverink , City Clerk
ATLAS PLASTICS CORPORATION
(DBA-ATLAS-ALCHEM PLASTICS )
[Typed Name & Title of Signer ]
ATTEST:
Typed Name & Title of Signer
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