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1975
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1975
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9/3/2015 9:35:06 AM
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CITY CLERK
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37b <br />I3EGINNING at a point in the center line of a <br />drainage ditch, said ditch being located between <br />Hickory Street and Clement Road, and the beginning <br />point being West 260 feet from the Southwest Corner <br />of the intersection of Fitzhugh Avenue and Clement <br />Road (the Northeast Corner of Block 256) and also <br />being S 2° 00 E along the centerline of a drainage <br />ditch; <br />THENCE North 88' 30' West 287 feet to a point; <br />THENCE South 1 ° 30' West 84 feet to a point; <br />THENCE North 88° 30' West 477 feet to a point, <br />same being in the East Margin of 6th Street, N. E. ; <br />THENCE in a Southerly direction with the East <br />Margin of 6th St. , N. E. 16 feet to a point; <br />THENCE South 88' 30' East 477 feet to a point; <br />THENCE South 1' 30' East 200 feet to a point; <br />THENCE South 88c'30' East. 297 feet to a point in <br />the center line of a drainage ditch; <br />THENCE North 2° 00' Nest with the center line of <br />the drainage ditch 300 feet more or less to the place <br />of beginning, containing 2. 19 acres -of land more or <br />less_ <br />The term of this lease is ten (10) years, beginning on the- <br />1st day of July,. 1975 and ending the 30th day of June, 1985. <br />IN CONSIDERATION of the leasing and letting of said premises <br />and the use and occupancy thereof by Lessee, Lessee agrees to effect <br />and perform repairs to existing buildings, structures and other im- <br />provements and to make additional improvements on the leased pre- <br />mises to the extent of ten per cent (1057) of its annual gross re- <br />ceipts, Lessee hereby agreeing to expend for such purposes the sum <br />herein set out during each year of this agreement, the total amount <br />to be expended by Lessee for such purposes during the term of this <br />le..se to be not less than ten per cent (1007) of its total gross re- <br />ceipts for the ten year period covered by this agreement; provided <br />hvxcver, that in the event Lessee expends in excess of ten per cent <br />of its gross receipts during any one year hereof for such purposes, <br />such excess may be credited on the total amount to be exp tided b- <br />Le> > _ he.reun'1er. the term "gross receipts" shall mcan the i-oz -al <br />of !_. SS£ C= fircmn all Sol? l ces, by- <br />
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