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0176 a ORDINANCE NO. ieee - *. AN ORDINANCE GRANTING AN EXCLUSIVE PERMIT FOR THE PLACING OF REST BENCHES BEARING ADVERTISING MATTER UPON PORTIONS OF CERTAIN PUBLIC THOROUGHFARES, AND OTHER LOCATIONS BE IT ENACTED BY THE CITY OF JACKSONVILLE, ARKANSAS 1. An exclusive permit is hereby granted and awarded to H. L. Jones, his heirs and assigns, for a period of ten (10) years from the effective date hereof, to place artistic benches bearing advertising in the City of Jacksonville, Arkansas, at such places, points and locations as the permittee selects. The permittee is hereby authorized to locate and place benches along public streets and thoroughfares, shopping centers and other local- ities which will serve the public convenience and necessity. 2. The said H. L. Jones, his heirs and assigns are granted permission to sell advertising space on such benches; provided, that such advertisements shall not include anything that is fraudulent, illegal or immoral, and that no advertising for any alcoholic beverage will be placed on any portion of any bench. 3. For and in consideration of such permit, the said H. L. Jones, his heirs and assigns, agrees to pay to the City of Jacksonville the sum of $5.00 per bench per year, said fee being payable in advance annually within thirty (30) days from the effective date or anniversary date of this ordinance. 4. All rest benches hereafter placed along streets of the City of Jacksonville shall be constructed of Fiberglass and will be durable and attractive. Each bench shall be approximately seven (7) feet long, two (2) feet wide, and fifty (50) inches high, and shall not weigh more than seven hundred (700) pounds. The benches shall be kept in good and safe con- dition and repair at all times. Permittee further agrees to keep the immed- iate area around the benches in clean, orderly and sanitary condition and in such manner as not to create a fire hazard or menace to health. 5. The benches authorized herein shall, where possible, be placed at lo- cations where they shall be convenient to the use of the public and shall not constitute a hazard to safety.or.an impediment to traffic, and no bench shall remain in any location if the owner of the adjacent property shall file written objection with grantee herein, and upon receipt of such objec- tion grantee must remove said bench within a period of fifteen (15) days. In addition, the Mayor of the City of Jacksonville shall have the right to require the removal of any bench, whenever, in his opinion, the location of such bench constitutes a hazard to safety or an impediment to traffic, or whenever its removal is necessary for the purpose of permitting the exe- cution of public works or because of the City's need of said bench locations. Page 2. - ! ' 6. If permittee, his heirs and assigns, shall abandon or fail to perform any of the duties, covenants, or things imposed upon him herein, the City of Jacksonville may declare this permit breached and may terminate same, un- less said breach is corrected within thirty (30) days after the breach occurs, with written notice given by the City of Jacksonville to permittee. In such event the City of Jacksonville is authorized, at its option, to take posses- sion of said benches, disposing of them to the best advantage in its judge- ment, and any residue over and above the expenses involved shall be paid to the permittee, his heirs and assigns. 7. Any assignee of permittee shall be obligated to notify the City Clerk of the City of Jacksonville of any assignment of all or any part of this permit within thirty (30) days from the date of any such assignment. No assignment will be made or recognized without prior approval of the City Council of the City of Jacksonville. 8. There is hereby granted to permittee, his heirs and assigns, an option to renew this permit for an additional ten (10) year period beyond the origi- nal term hereof upon the same terms and conditions as contained herein. 9. This ordinance shall be in full force and effective thirty (30) days following its passage. PASSED APPROVED: MAYOR ATTEST: ttn P h&C& Alta ai fittw March 31, 1972 4 fi :4?k y> _ 1. � sib Mrs. Ploy Avants City Clerk Jacksonville, Arkansas Dear Mrs. Avants: a g We hereby request a change in Ordinance #176 from Public Sorvice Bauch Co., Inc. to Public Bench Ads, Inc. We are attaching the Minutes and a copy of tbs Agreement showing the transfer from Public Service Bench Co., Inc. to Pubiie" Bench Ada, Inc. _? Please acknowledge by signing a copy of this letter and returning '04 09G4& AI4COdD PLOY ADAMS, CITY CLERK +s' ai i y H 4, < , ey 77 S EXCERPT FROM MINUTES OF A MEETING OF THE CITY COUNCIL OF JACKSONVILLE, ARIAAP'S.AS, WELD JULY 6, 1967. The City Council of the City of Jacksonville met in. regular session at its regular meeting place in. Jacksonville at 7:30 P. M., on the 6th day of July, 1967, and the following were presents Mayor: Harden, City Clerk Avants and Aldermen: Osco Honeycutt, Leon Sorrells, W.,:M.. A.lberson, William .Lehman, Euual W. Curtis, and Robert :G. Hill. y Mayor Harden read a letter from Mr.'Harry Jones, requesting to change permitee in Ordinance #176 from H. L. Jones to Public Service Bench Company, Inc .,stating the reason for the request is the Bus Bench Advertising Company name is being changed to Public Service Bench Company, Inc. Alderman Curtis moved, seconded by Alderman Hill to grant the request of Mr. Jones to change permitee in Ordinance #176 from H. L. Hones to Public Service Bench Company, Inc. Motion approved by voice vote. Matters not relating to the above are omitted. There being no further business to trans.-t, -the Council than adjourned. A p 1f ) hN . W /Mayor Floy !wants, City Clerk r W ` � MINUTES MEETING OF BOARD OF DIRECTORS I,4' PUBLIC BENCH ADS, INC. MARCH 29, 1971 A meeting of the Public Bench Ads, Inc. was hold at 7 o'clock Monday morning, March 29, 1971. Members present: Dr. James M. Fowler, President Oscar Alagood Hoyte R. Pyle Others present: Jack Dempsey The meeting was called to order by Dr. Fowler. The purpose of the meeting was for routine business of the corporation. It was proposed by Dr. Fowler, Oscar Alagood and Hoyte Pyle as individuals that they transfer to the corporation all of the assets which they received from Public Service Bench - MOWS Co., Inc, and Jack Dempsey and Dorothy C. Dempsey as a result of their agreement entered into on the 16th day of March, 1971, to Public Bench Aids Inc. for and in consideration of the assumption by the corporation, Public Bench Ads, Inc., of the obligations assumed as a result of the aforesaid agreement. Upon motion duly made by Mr. Pyle, seconded by Mt. Alagood and unanimously approved by the Board of Directors, the aforesaid proposal was accepted. Plans and procedures were discussed relating to the construction, repair and new ads for the benches. There being no further business, the meeting was adjourned at 8 o'clock. V � / . Dr. Jams M. F'o1Jw, ler, President _r.• .X Y Hoyte '. Py1e $cretary- Treasurer Lis cr / Date ' AGREEMENT AGREEMENT entered into this 16th day of March, 1971, by and among HARRY JONES , herein referred to as the Seller; PUBLIC SERVICE BENCH CO., INC., herein referred to as the First Purchaser; and OSCAR ALAGOOD, J.M. FOWLER'andHOYTE R. PYLE , herein referred to collectively as the Second Purchaser. WITNESSETH: Whereas , on July 1, 1967, the Seller and the First Purchaser entered into a Sale and Purchase Agreement whereby the First Purchaser acquired from the Seller all of his stock in Bus Bench Advertising, Inc. Whereas , on July 1, 1967, the Purchaser executed in favor of the Seller a promissory note and security agreement in favor of the Seller evidencing and securing the purchase price of the said Bus Bench Advertising, Inc. stock. Whereas , on July 1, 1967, Jack Dempsey and Dorothy C. Dempsey, herein referred to as the Stockholders, executed a pledge agreement and a guaranty agreement in favor of the Seller pledging all of their stock in the First Purchaser and personally guaranteeing the obligation of the First Purchaser to the Seller. Whereas , on July 1, 1967, Jack Dempsey delivered to the Seller a policy of life insurance in the principal sum of Two Hundred Thousand Dollars ($200,000) as additional security on the obligation of the First Purchaser. PlE Whereas , on July 5 1970, the Seller and the First Purchaser entered into an agreement modifying the obligations of the parties under the Sale and Purchase Agreement dated July 1, 1967 and executed a new Promissory note simultaneous therewith. Purchase agreement dated July 1, 1967 and the promissory note dated July '� 1970. 3. Re Lea s e . The Seller hereby agrees to unconditionally release the First Purchaser and the stockholders as follows: (a) The First Purchaser is hereby released from any obligation whatsoever to perform on the Sale and Purchase Agreement dated July 1, 1967 and the modification thereof dated J4: `; 1970. (b) The stockholders are hereby released from any obliga- tion whatsoever to perform on the Guaranty Agreement dated July 1, 1967. (c) The Seiler agrees to surrender immediately to the First Purchaser the promissory note dated Ju ff •2 1970 indicating "Paid -in- full ". (d) The Seller agrees to execute a Termination Statement releasing its security interest in all properties covered in a Security Agree- ment dated July 1, 1967. (e) The Seller agrees to surrender to the stockholders .11E stock of the First Purchaser held as security under a Pledge Agreement dated July 1, 1 967. (1) The Seller agrees to surrender to Jack Dempsey the policy of life insurance in the principal sum of Two Hundred Thousand Dollars ($200,000) on the life of Jack Dempsey. 4. Mobile Royalty Payments • It is understood and agreed by the parties that no provision hereunder shall in any way affect the Seller's rights to royalty payments on the Mobile, Alabama bus bench franchise payable by the First Purchaser to the .Seller under a Sale and Purchase Agreement dated July 1, 1967, and that the First Purchaser shall execute a Security Agreement in favor of the Seller giving hirn a security interest in the Mobile franchise and in all personal property owned by the First Purchaser in connection therewith. 5. Obligation of the Second Purchaser. The Second Purchaser hereby agrees to execute in favor of the Seller the following documents: Page 3 (a) A promissory note in the principal amount of Two Hundred and Ten Thousand Dollars ($210,000), a copy of which is attached hereto, as Exhibit A, and made a part hereof by this reference thereto. (b) A security agreement, a copy of which is attached ' - hereto as Exhibit B and made a part hereof by this reference thereto. In addition the Second Purchaser agrees to assume all of the First Purchaser's obligation under tits said Sale and Purchase Agreement as modified. 6. Benefit. This Agreement shall inure to the benefit of, and be binding upon, the parties, their successors, heirs, assigns and legal representatives. IN WITNESS WHEREOF, the parties have affixed their hands the day aforesaid. .j / 11, 1 :1 40 . 2 \ cit C G " \ JO Seiler PUB RVICE N CO., LTG. First Purchaser Cam' , ° ,«_d ... OS < • • AIA� ®or% r 1 . . . FO LER fa HOYTE f. MEN, Second Purchaser Page 4