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Home My WebLink About14035 ORD - 11/16/1977jkh:10- 11 -77; 1st 1 AN ORDINANCE AUTHORIZING THE CITY VANAGER TO EXECUTE A LEASE AGREEMENT WITH THE SAND AND SEA RESORT HOTEL FOR A FIVE -YEAR TERM FOR THE PURPOSE OF LEASING TO SAID HOTEL A PORTION OF AUBREY STREET, BETWEEN NORTH SHORELINE DRIVE AND WATER STREET, FOR PARKING PUR- POSES, ALL AS MORE FULLY SET FORTH IN THE SAID LEASE AGREEMENT, A SUBSTANTIAL COPY OF WHICH IS ATTACHED HERETO AND MADE A PART HEREOF, MARKED EXHIBIT "A ". BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. That the City Manager be and he is hereby authorized to execute a five -year lease agreement with the Sand and. Sea Resort Hotel for the purpose of leasing to the said hotel a portion of Aubrey Street, between North Shoreline Drive and Water Street, adjacent to the said hotel, to be used for parking purposes, all as is more fully set forth in the lease agreement, a substantial copy of which isattached hereto and made a part hereof, marked Exhibit "A". MICROFILMED JUL 071990 14035 LEASE AGREEMENT THE STATE OF.TESAS X COUNTY OF NUECES X • This lease agreement made and entered into this the day of , 1977 by and between the City of Corpus Christi, Texas, a municipal corporation and body politic, operating under the home rule statutes of the State of Texas, hereinafter referred to as "LESSOR ", and the Sand and Sea Resort Hotel, hereinafter referred to as "LESSEE ": W I T N E S S E T H 1. Lessor does hereby lease and let unto Lessee the portion of Aubrey Street between Water Street and N.Shoreline adjacent to Lots 6 and 70 Block 10, Water Beach Addition, in the City of Corpus Christi, Nueces County, Texas; as shown on Exhibit "A ", attached hereto and made a part' hereof, for a term of five (5) years from the date of execution by both- parties. .2. Lessee shall use the leased premises only for the parking of vehicles owned or leased by Lessee or its employees, customers, patrons or visitors. Any other use which the Lessee desires to make of the leased premises must be approved beforehand in writing by Lessor. The approval or disapproval of any such other use shall be solely to the discretion of Lessor. 3. Lessee for and in consideration of the priviledges and rights granted by this lease shall pay to Lessor an annual amount approximating what the City of Corpus Christi's ad valorem taxes would be on the leased premises if owned by Lessee. The rent for the first year of this lease shall be THREE HONORED AND SEVENTY -FIVE DOLLARS AND NO CENTS ($375.00). Said rent is based on an estimated market value of the leased premises of $43,625.00 as shown on Exhibit "$ ", attached hereto and made a part hereof; as assessment ratio of 60% of market value resulting in an assessed value of $26,175.00; and a tax rate of $1.44 per $100 of assessed value. 4. The rent for the first year of this lease shall be paid no later than 30 days after execution of this lease by both parties and shall be mailed or delivered to the Collection Section of the Finance Department of the City of Corpus Christi, 321 North Mesquite (Weber Building), Corpus Christi, Texas. The rent for each succeeding year of the lease, the amount of which shall be calculated as hereinafter provided, shall be due no later than December 1 of each succeeding year beginning with December 1, 1978. The rent shall be mailed or delivered to the same address provided hereinabove unless changed in writing by Lessor. 5. The rent for each succeeding year of this lease after.the first yeas shall be adjusted according to the following formula so that the rent approximates the income which the City of Corpus Christi would receive from ad valorem taxes if the leased premises were owned by Lessee: D $375 x E "D" is the amount of City of Corpus Christi ad valorem taxes on the City of Corpus Christi's tax roll as of October 15 of each succeeding -' year of this lease beginning with October 15, 1978 for the property owned by Lessee adjacent to the leased premises exclusive of taxes on improve- ments and any delinquent taxes. "E" equals the amount of City of Corpus Christi ad valorem taxes on the City of Corpus Christi's tax roll as of October 15, 1977 for the property owned by Lessee adjacent to the leased premises exclusive of taxes on improvements and any delinquent taxes. 6. Lessee shall be sent a bill by Lessor for the rent due for each succeeding year of this lease after the first year by no later than November 1 of each succeeding year beginning November 1, 1978. The bill shall Include a statement showing the calculations made in accordance with the formula provided for in paragraph 5 above. 7. Lessor reserves the right to enter upon the leased premises at any time to maintain, replace or repair the utility lines or any other lines of the City of Corpus Christi beneath the surface of the leased premises. 8. Lessee shall be responsible for maintenance of.the leased premises including pavement and upon expiration of this lease shall return the leased premises to Lessor in as good as condition as before this lease was executed, usual wear and tear and acts of God excepted. 9. I Lessee, except as provided. in paragraph 7 above, shall hold Lessor harmless from any and all claims arising out of Lessee's use, enjoyment and maintenance of the leased premises. Lessee shall also pay Lessor the cost of any damage to the City of Corpus Christi's utility or other lines beneath the surface of the leased premises on account of Lessee's use, enjoyment and maintenance of the leased premises. 10. Lessee may stripe the leased premises for parking. A plan for said striping must be submitted to and approved by the Director of Traffic and Transit of the City of Corpus Christi before said striping can be commented. 11. Lessee shall not charge for parking'on the leased premises. 12. This lease may be cancelled by either party upon 30 days written notice to the other party. 13. All inquiries about and notices provided for in this lease shall be mailed to Lessor at the Property and Land Acquisition Office, of the City Of Corpus Christi, 1801. North Chaparral, Corpus Christi, Texas 78401' unless changed in writing by Lessor and to Lessee at - the Sand.and Sea Resort Hotel, 1013 H. Shoreline, Corpus Christi, Texas 78408.' WITNESS OUR HANDS in duplicate this the day of -1977. ATTEST: City Secretary APPROVED: day of 1977 J. 'SRUCB A'YCOCK, City Attorney By Assistant City Attorney APPROT: day of 1977 Harold Zick, Direct of Fi nce CITY OF CORPUS CHRISTI Sy. R. Marvin Townsend, City Manager I Sand and Sea Resort Hotel NORTH SHORELINE BLVD. • - cu .. NORTH SHOREL114E BLVD. sta. 0 +00 = B.C. . 6t: ol IF " _testa. 1 +38.5 kAlley �8 "V -C -P Ogg ®. W m •_" ---� 108 h 4" Gas _ G_ EH. Sta. 3 +08.5= F.C. ,, id, Water ATER- STREET -S 2l" V C.P 9 H.S. 0 AUBREY STREET VALUE SUMMARY as of June 290 1977 Site: Aubrey Street Land Value Estimate: (Fast one half () or slightly less =.6,750 S.F.) Comparable Sale Number 1 August, 1971 Estate of George Jones to C. C. Savings Legal Description: Block 1, Portion of C.W. & W. Subdivision Location :. 100 Blocs N. Shoreline, Cooper and Water Streets Selling Price: $4.50/S.F. . . .AdJustme" for Dissimilarities. . . . . . Time + 55% Location " + Total Adjustment + Comparable Adjustment Factor Subject $4.50/S.F. s 1.60 $7-20/S.F I . Correlation: Subje Comparable Sale Nunn')er 1 $7.20/S.F. Based on the only comparable sale that could be found the East Portion of subject property.is estimated at 7.00 S.F. Land Value Estimate: (West one half (2) = 8,000 S.F.) Comparable Sale Number 1 January, 1976 Grantee: Town Club Legal Description: Lot 5, Block 6, Beach Addition Selling Price: $4.00/S.F. . . . . . . ..Adjustment for Dissimilarities. . . . . . . Time - + 15% Location + 5� Total Adjustment +24 Curable Adjustment Factor Subject $4.001S.F. s 1.20 $4.80/S.F. Comparable Sale Number 2 Mays 1972 Joske's to C. C. Savings Legal Description: Lots 1 through 14, Block 2, Beach Addition Selling Price: $P.28 /S.F. . . . . . .Adjustment for Dissimilarities. . . . . . . Time + 50% Location + 10 Total Adjustment + Comparable Adjustment Factor Subject $2.28/S.F. x 1.60 $3.64 /S.F.; comparable Sale Number 3 M9rch 41 1977 Grantee: Town Club Legal. Descriptioa: Lot 6, Block 6, Beach Addition Se713ng Price: $35,000.00 or $4.66/S.F. . . . . . . .Adjustment for Dissimilarities. . . . . . . Time + 5% Location + Total Adjustment + 1 Compassable Adjustment Factor Subject $4.6615.F x 1.10 $52.321S.F. Correlation- sub ect Comparable Sale Number 1 80 /S.F. Comparable Sale Number 2 3.64/S.F. Comparable Sale Number 3 5•l2 /S.F. Sales 1 and 3 are more indicative of subject market value due to date of sale and location.. West Portion of subject property is estimated at Final value Summary: last one half: 6,750 S.F. x 7.00 /S -F- 7,250.00 West one half: 8,000 S.F. x 5.00 /S.F. = $40.000-00 Total:. 7,250.00 Subject property is encumbered by two easements which eliminate the Prospect of development of the property; this being the case, value Is reduced fifty percent due-to easements. $$7,250 -OD $ -5 $43,(325.00 Value of the whole property is estimated at $113,625 -00- C E R T I F I C A T I O N I hereby certify that I have no interest, present or contemplated in this property- June 29, 1977 Kenneth T. Kohrs, Manager Property and Land Acquisition EXHIBIT B 0 That the foregoing ordinance was read for the first time and passed to its second reading on this the_LaW- day of tott.,bl., , 19n_l_, by the following vote: Jason Luby Eduardo de Ases_ David Diaz Ruth Gill Bob Gulley Gabe Lozano, Sr. Edward L. Sample That the foregoing ordinance as read fo th second time and passed to its third reading on this the 9t of�, 19j-1 by the following vote: Jason Luby Eduardo de Ases David Diaz Ruth Gill Bob Gulley Gabe Lozano, Sr. Edward L. Sample That the fore ing ordi n e was read for the third 4timand passed finally on this the�day of 197-1 by the following vote: Jason Luby Eduardo de Ases David Diaz Ruth Gill Bob Gulley Gabe Lozano, Sr. Edward L. Sample PASSED AND APPROVED, this the1�day of ATTEST: City Secretary MAYOR THE CITY OF CORPUS CHRISTI, TEXAS AP VED: This ordinance is in effect and DAY OF 193 force with or without the J. BRUCE AYCOCK, CIT ATTORNEY signature of the Mayor, in accordance with Article II Section 6 of the City Charter. By As istant City Mtorney 140)3-, • PUBLISHER'S AFFIDAVIT STATE OF TEXAS, �: County of Nueces. Before me, the undersigned, a Notary Public, this day personally came........____..._ —Q,Lor-ia--Ca=a ...... ....... . ..... . ...... . . — who being first duly sworn, according to law, says that be Is the . ... . ... . .. . ....... . of the Corpus Christi Caller and The Corpus Christi Times, Daily Newspapers published at Corpus Christi, Texas, in said County and State, and that the publication of -...LzGA.La--PioTTi.,P..La..HEBzBy--GTVF,N TFAT ESORT HOTEL FOR A FIVE -YEAR TERM.... AGREEKIENT WITF THE SAND AND SEA R of which the annexed is a true copy, was published in on the-24-- day of ------ eovamv&iLve Gloria Garza -Z-C—C-;--Ei--9 Subscribed and sworn to before me this.......... day Eugenia S; Cortez No 'c, Nueces County. Texas PUBLIC NMCE Notice Is hereby given that the City C.Mll of the City of Corpus Christi has, on the 19M day of October, 197, approved On secoM rMding 1N ordinance authorising the City Manager to execute a I se agreement with the Send eM Sea Resort Hotel for a flv yasr term for the pur— poso of losing to saW hotel a portion of Aubrey Street, be tween North Shoreline OrIVe end water Street, for parking 'purpmea. The ordinance was approved on find readby on the 12th day of October, 1977. FWI W of this ordinance Is avall- able to the public In Me ORke of Ma City Secriary. Witness my hand this 27th day of October, 1977. I -81H G. Read, C-OY Secretary PUBLISHER'S AFFIDAVIT STATE OF TEXAS. County of Nueces. Iss. Before me, the undersigned, a Notary Public, this day personally GO aria -Sax ryfd . ... . .... . ..... . _ who being first duly sworn, according to law, says that he is the _- - - - - -- of the Corpus Christi Caller and The Corpus Christi Times, Daily Newspapers published at Corpus Christi, Texas, in said County and State, and that the publication of LEGATS, - MUM-IS-17, I BY G--LVETq. ON THE 12TH DAY. OF OCTOBER, . A LEASE —1977 AGREEMENT WITH THE SAND AND SEA RESORT HOTEL FOR A FTVF-�TM'TERM. of which the annexed is a true copy. was published in on the 17 day 1.._....... Times. Gloria Garza 41 Accoun ng Subscribed and sworn to before me this.......] a ....... . day - ----- 0-c-tDbar....-- ....._.._.. -- --.. ig.. 77 Eugenia S. Cortez Mary Nue Z�;Zces County, Texas oP PUBLIC NOTICE Notice Is hereby given that the City cnuncll of the City of Corpus Christi has, on the 12th day of October, 1477, approved at first reading an ardhMM, aulhorW g the City Manager to execute a lease agreement with the Send and Sea Resort Hotel for a five-year term for the Pur- pose of leasing to said hotel a portion of Aubrey Street, be- tween North Shoreline Drive and Water Street, for parking purposes. The fun text of this ordinance Is available to the public In the Office of the City' Secretary. WltmRs my hand this 13bv> day,of October, 197/. Bill G. Read, City Sevetery� r&r us Christi, Texas