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2001-038-RES APPROVING ASSIGNMENT FROM MIKE LANE TO SOUTHERN DRAG BOAT ASSOCIATION INC RESOLUTION NO. 2001-038 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, APPROVING AN ASSIGNMENT FROM MIKE LANE TO THE SOUTHERN DRAG BOAT ASSOCIATION, INC. OF AN OPTION AGREEMENT FOR THE USE OF LAKE CROOK PARK IN THE YEARS 2000, 2001, 2002, 2003, AND 2004 FOR THE PURPOSE OF CONDUCTING DRAG BOAT RACES; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City of Paris, Paris, Texas, did heretofore, on the 10th day of May, 1999, in Resolution No. 99-047, authorize the execution of an Option Agreement with Mike Lane for the use of Lake Crook Park during the 4th of July weekend in the years 2000, 2001, 2002, 2003, and 2004 for the purpose of conducting drag boat races; and, WHEREAS, Mike Lane has expressed his desire to assign said Option Agreement to the Southern Drag Boat Association, Inc. and the Southern Drag Boat Association, Inc. has expressed its desire to accept such assignment; and, WHEREAS, the form of the Assignment from Mike Lane to the Southern Drag Boat Association, attached hereto as Exhibit A, should, in all things be approved, and the City Manager should be authorized to acknowledge approval of said assignment by signing the same; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the form of the Assignment from Mike Lane to the Southern Drag Boat Association, Inc. attached hereto as Exhibit A, of an Option Agreement for the use of Lake Crook Park during the 4th of July weekend in the years 2000, 2001, 2002, 2003, and 2004 for the purpose of conducting drag boat races be, and the same is hereby, approved. Section 3. That the City Manager be, and he is hereby, authorized and directed to acknowledge approval, on behalf of the City of Paris, of the Assignment from Mike Lane to the Southern Drag Boat Association, Inc. by signing the same in the form shown in Exhibit A, attached hereto. Section 4. That this resolution shall be effective from and after its date of passage. PASSED AND APPROVED this 9th day of April, 200 I. ATTEST: .~~.\\ ~ Thomas E. Haynes, Asst. C~lerk APPROVED AS TO FORM: L ASSIGNMENT STATE OF TEXAS ~ KNOW ALL MEN BY THESE PRESENTS: COUNTY OF LAMAR ~ THAT I, MIKE LANE, hereinafter called ASSIGNOR, for consideration of the assumption of the ASSIGNOR'S obligations under the assumed Option Agreement does hereby bargain, sell, and assign to SOUTHERN DRAG BOAT ASSOCIA nON, INC. hereinafter called ASSIGNEE, all my right, deed, and interest in and to that certain Option Agreement between MIKE LANE and the CITY OF PARIS, PARIS, TEXAS, dated May 10,1999. ASSIGNEE will be responsible for all terms and conditions stated in said assumed Option Agreement attached hereto as Exhibit A. IN WITNESS WHEREOF this assignment is executed on the _ day of 2001. MIKE LANE, ASSIGNOR Mike Lane SOUTIlERNDRAG BOAT ASSOCIATION, INC., ASSIGNEE By: Name: Title: The aforesaid assignment is approved and accepted by the City of Paris, Paris, Texas. CITY OF PARIS, PARIS, TEXAS Michael E. Malone, City Manager ATTEST: Thomas E. Haynes, Ass!. City Clerk ....,(HIBIT A APPROVED AS TO FORM: Larry W. Schenk, City Attorney -~- / \. , I "!;.. OPTION AGREEMENT COUNTY OF LAMAR ~ ~ ~ KNOW ALL MEN BY THESE PRESENTS: STATE OF TEXAS THIS AGREEMENT is made this 10th day of May, 1999, by and between the CITY OF PARTS, PARIS, TEXAS, a municipal corporation, acting by and through its Mayor, Charles H. Neeley, duly authorized. hereinafter referred to as CITY, and MIKE LANE, 2630 FM 79, Paris, Lamar County. Texas, hereinafter referred to as LANE. w r T N E SSE T H: WHEREAS, the City of Paris owns, controls. manages, and operates Lake Crook Park, hereinafter referred to as "Park"; and, WHEREAS, Mike Lane has requested use of Park for the purpose of sponsoring drag boat races over the 4th of July weekend of each year; and, WHEREAS, the City of Paris did heretofore, on the 10th day of May, 1999, accept bids for such use, and Mike Lane was the best bidder; therefore, he should be awarded such bid and granted such use; NOW, THEREFORE, For and in consideration of the mutual covenants and agreements hereinafter contained. the parties hereto agree as follows: I. This agreement shall be for a period of FIVE (5) years, which shall include the years 2000, 2001,2002,2003, and 2004. It is further agreed to by CITY and LANE that LANE shall have the right to renew such Agreement for an additional period of FIVE (5) years. The. granting of said Agreement is subject to the requirements set forth in paragraph 10. ;~ "/ 2. CITY does hereby grant to LANE the exclusive use of Lake Crook for the purpose of sponsoring drag boat races and related activities, subject to reasonable inspections and access EXHIBIT A 1 r , by City personnel, on the 4th of July weekend of each year. Specific dates shall be established by mutual agreement between the Special Events Committee and LANE. 3. LANE shall be required to submit annually an Application for a Special Event Permit in accordance with the requirements of Chapter 24. Article II, of the Codes of Ordinances of the City of Paris, Paris, Texas. 4. In the event LANE fails to qualify such event as a Special Event, LANE shall not be permitted to exercise his right to use Park. 5. Lessee shall verifY that all vendors of food, beverage, and other goods for sale during the contract period herein set forth have obtained and hold current all licenses and permits required by law. 6. LANE agrees to pay to CITY a fee of $1,500.00 for eacl).special event held under this Agreement or six percent (6%) of the gross receipts of the gate not to exceed $7.000.00, whichever is greater. The maximum revenue for the CITY of$7,OOO.00 in 2000 shall be adjusted upward by the regional "Consumer Price Index" for each year for the remaining term of the contract period. Lessees agrees to pay the aforementioned minimum fee of$l,500.00 prior to the start date of the event and any balance due within thirty (30) days following the last day of the event. 7. This Agreement shall not apply to any event other than drag boat races or to any time other than the 4th of July weekend. 8. That LANE will abide by and comply with all rules, regulations, ordinances, and laws pert.1ining to the use of Lake Crook or a valid waiver thereof, and in addition thereto will ,\ I' )\ abide by and comply with all ordinances of the City of Paris and all laws of the State of Texas governing citizens and property within the City of Paris. j I / 9. That the CITY may, at its option, terminate this Agreement in the event the CITY desires to use the property for necessary municipal functions. 10. In the event LANE shall keep each and every agreement contained herein and do and perform all the obligations required of him hereunder during the primary term of this Agreement. an option is hereby given and granted to LANE to renew and extend this Agreement for a period of FIVE (5) years, which will include the years 2005, 2006, 2007, 2008, and 2009. from and after the expiration of hereof, which option may be exercised by LANE giving notice, in writing, of his intention to renew said Agreement by December 31, 2004, and shall be under such terms as previously provided and subject to paragraph 11. 11. In the event LANE exercises the option described in paragraph 10, both CITY and LANE agree to renegotiate, in good faith, minimum payment amou!1ls: . 12. Any and all monies received by CITY under this Agreement shall be for the sole benefit of the Parks and Recreation Department of the City of Paris for maintenance and development of the Lake Crook area. ]3. This agreement may be modified, changed, or amended only as may be mutually agreed in writing between CITY and LANE. ]4. It is understood and agreed that LANE shall not sell. sign or transfer any of his rights or privileges granted hereunder without the prior written consent of CITY. WITNESS our hands this 10th day of May, 1999. CITY OF PARIS, PARIS. TEXAS By: ,', I." ~; I r A TrEST: ~~''''~\'.'''''''''~'-e-~) Mattie Cunningham, City Clerk APPROVED AS TO FORM: ~~~ Scott P. Foster, City Attorney MIKE LANE M;~~~ - STATE OF TEXAS ~ ~ COUNTY OF LAMAR ~ BEFORE ME, the undersigned authority, on this day personally ~peared Charles H. Neeley. Mayor of the City of Paris, Paris, Texas, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed and in the capacity therein stated. Il+t--. GIVEN UNDER MY HAND AND SEAL OF OFFICE this Hltl1 day of May, 1999. STATE OF TEXAS ~ ~ COUNTY OF LAMAR ~ BEFORE ME, the undersigned authority, on this day personally appeared Mike Lane. known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. ,'1 I'" ~ \" ,. GIVEN UNDER MY HAND AND SEAL OF OFFICE this \~+\,.J day of May, 1999. 1';