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2001-108-RES APPROVING GROUNDS SUBLEASE BETWEEN RED RIVER VALLEY FAIR ASSN AND PARIS RODEO AND HORSE CLUB
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2001-108-RES APPROVING GROUNDS SUBLEASE BETWEEN RED RIVER VALLEY FAIR ASSN AND PARIS RODEO AND HORSE CLUB
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8/18/2006 4:29:12 PM
Creation date
8/8/2001 1:58:32 PM
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CITY CLERK
Doc Name
2001
Doc Type
Resolution
CITY CLERK - Date
7/9/2001
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<br />ARTICLE 6. MECHANICS' LIENS <br /> <br /># 6.01. Sublessee shall not cause or permit any mechanics' <br />liens or other liens to be filed against the fee of the subleased <br />premises or against Sublessee's leasehold interest in the land or <br />any buildings or improvements on the subleased premises by reason <br />of any work, labor, services, or material supplied or claimed to <br />have been supplied to Sublessee or to anyone holding the subleased <br />premises or any part of them through or under Sublessee. If such <br />a mechanic's lien or materialman's lien is recorded against the <br />subleased premises or any building or improvements on the premises, <br />Sublessee shall either cause the same to be removed or, if <br />Sublessee in good faith desires to contest the lien, take timely <br />action to do so, at Sublessee's sole expense. If Sublessee <br />contests the lien, Sublessee agrees to indemnify Sublessor and hold <br />Sublessor harmless from all liability for damages occasioned by the <br />lien or the lien contest and shall, in the event of a judgment or <br />foreclosure on the lien, cause the lien to be discharged and <br />removed prior to execution of the judgment. <br /> <br />ARTICLE 7. INSURANCE AND INDEMNIFICATION <br />Insurance on Buildings and Improvements <br /> <br /># 7.01. At all times during the term of this sublease, <br />Sublessee shall keep all buildings and other improvements located <br />or being constructed on the subleased premises insured against loss <br />or damage by fire, with extended coverage endorsement of its <br />equivalent. This insurance shall be carried by insurance companies <br />authorized to transact business in Texas, selected by Sublessee and <br />approved by Sublessor whose approval shall not be unreasonably <br />withheld. The insurance shall be paid for by Sublessee and shall <br />be in amounts not less than eighty (80) percent of the fair <br />insurable value of the buildings and other improvements. Such <br />policy or policies of insurance shall name Sublessor, Sublessee and <br />the City of Paris as a named insured. <br /> <br />Liability Insurance <br /> <br /># 7.02. At all times during the term of this sublease, <br />Sublessee shall provide and keep in force during the term of this <br />sublease, liability insurance covering Sublessor, the City of Paris <br />and Sublessee for liability for property damage and personal <br />injury. This insurance shall be carried by one or more insurance <br />companies duly authorized to transact business in Texas, selected <br />by Sublessee and approved by Sublessor, and shall be paid for by <br />Sublessee. The insurance provided pursuant to this section shall <br />be in the amount of not less than $100,000 for property damage and <br />not less than $250,000 for one person and $500,000 for one accident <br />for personal injury. This insurance shall protect Sublessor, the <br />City of Paris and Sublessee against liability to any employees or <br />servants of Sublessee and to any other person or persons whose <br />property damage or personal injury arises out of or in connection <br />with the occupation, use, or condition of the leased premises. <br />6 <br />
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