HomeMy WebLinkAbout2007-7-7296312
91502
ORDINANCE NO. 2007-7-7296
AN ORDINANCE OF THE CITY OF PADUCAH, KENTUCKY, APPROVING
A MEMORANDUM OF UNDERSTANDING AMONG THE CITY OF PADUCAH,
KENTUCKY, AND SHARON GRAVES AND BRENT LAMO WITH RESPECT TO A
PUBLIC PROJECT; AND AUTHORIZING THE EXECUTION OF VARIOUS DOCUMENTS
RELATED TO SUCH MEMORANDUM OF UNDERSTANDING
WHEREAS, the City of Paducah, Kentucky (the "City") has previously
determined, and hereby further determines, that it is a public purpose to reduce unemployment in
the City of Paducah, to increase the City's tax base, to foster economic development within the
City, and to promote the redevelopment of the downtown business area, all to the benefit of the
citizens and residents of the City; and
WHEREAS, The City have further determined that it is necessary and desirable to
accomplish such public purposes that the City must proceed at this time to provide certain
economic incentives to Sharon Graves and Brent Lamo (collectively the "Investors") in order to
induce the Investors to acquire and renovate certain real estate within the boundaries of the City
of Paducah and establish its commercial office rental business venture within the boundaries of
the City of Paducah, Kentucky; and
WHEREAS, the Investors proposes to acquire from the City and renovate the
building and real estate generally known as the "Arcade Theatre" and to establish and locate with
the Arcade Theatre a commercial office rental business venture, all within the boundaries of the
City of Paducah, McCracken County, Kentucky, (the "Project"); and
WHEREAS, in order to induce the acquisition, renovation, installation,
redevelopment, and equipping of the Project by Investors, the City is agreeable to conveying the
real estate and Arcade Theatre to the Investors, provided the Investors fully satisfy and
accomplish such intent and purpose; and provide certain economic incentives to Investors for
purposes of defraying the costs of acquiring, renovating, installing, and equipping the Project;
and,
WHEREAS, the City and the Investors find it necessary and advisable to set forth
in summary form the intention of the Project and the economic incentives to be provided to
partially defray the costs of the Project; and
WHEREAS, in order to further the above described public purposes, it is
necessary and desirable that the City now authorize the Memorandum of Understanding among
the City and the Investors, with respect to the Project and the economic incentives to be
provided.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF
THE CITY OF PADUCAH, KENTUCKY, AS FOLLOWS:
SECTION 1. Recitals and Authorization. The City hereby approves the
Memorandum of Understanding among the City and the Investors (the "MOU") in substantially
the form attached hereto as Exhibit A and made part hereof. It is further determined that it is
313
necessary and desirable and in the best interests of the City to enter into the MOU for the
purposes therein specified, and the execution and delivery of the MOU is hereby authorized and
approved. The Mayor of the City is hereby authorized to execute the MOU, together with such
other agreements, instruments or certifications which may be necessary to accomplish the
transaction contemplated by the MOU with such changes in the MOU not inconsistent with this
Ordinance and not substantially adverse to the City as may be approved by the official executing
the same on behalf of the City. The approval of such changes by said official, and that such are
not substantially adverse to the City, shall be conclusively evidenced by the execution of such
MOU by such official.
SECTION 2. Severability. If any section, paragraph or provision of this
Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or
unenforceability of such section, paragraph or provision shall not affect any of the remaining
provisions of this Ordinance.
SECTION 3. Compliance With Open Meetings Laws. The City Commission
hereby finds and determines that all formal actions relative to the adoption of this Ordinance
were taken in an open meeting of this City Commission, and that all deliberations of this City
Commission and of its committees, if any, which resulted in formal action, were in meetings
open to the public, in full compliance with applicable legal requirements.
SECTION 4. Conflicts. All ordinances, resolutions, orders or parts thereof in
conflict with the provisions of this Ordinance are, to the extent of such conflict, hereby repealed
and the provisions of this Ordinance shall prevail and be given effect.
SECTION 5. Effective Date. This Ordinance shall be read on two separate days
and will become effective upon summary publication pursuant to KRS Chapter 424.
ATTEST:
jw��� SA�&Ck
Tammara S. Brock, City Clerk
Introduced by the Board of Commissioners, June 26, 2007
Adopted by the Board of Commissioners, July 10, 2007
Recorded by Tammara S. Brock, City Clerk, July 10, 2007
Published by The Paducah Sun, July 16, 2007
ORDINANCE RE MOU WITH incentives -arcade (00091502)
314
See pg. 318-G for amendment
to "Investor" name.
91504ver2
MEMORANDUM OF UNDERSTANDING
This is a Memorandum of Understanding (Agreement) made and entered into on the
day of August, 2007, by and between the CITY OF PADUCAH, KENTUCKY ("City"),
a municipality of the second class, and G & L INVESTMENT ENTERPRISE, LLC, a
Kentucky limited liability company (the "Investor").
WHEREAS, City is the present owner of certain real estate upon which is situated the
Arcade Theater building, which property is located at 500-508 Broadway, in Paducah,
McCracken, Kentucky, and is more particularly described on Exhibit A (the "Property"); and
WHEREAS, Investor desires to acquire the Property with the specific intent and purpose
to renovate the Arcade Theater building and all other related improvements located upon the
Property into a habitable and quality condition which is commensurate with other commercial
office rental buildings and structures within the City of Paducah, McCracken County, Kentucky
area (the "Renovation Project"); and
WHEREAS, the Renovation Project will have a positive impact on the entire community
by stimulating the local economy, expanding the tax base, and promoting the redevelopment of
the downtown business area; and
WHEREAS, in order to induce the acquisition, renovation, installation, redevelopment,
and equipping of the Renovation Project by Investor, the City is agreeable to conveying the
Property and all related improvements located thereon to the Investor, provided the Investor fully
satisfy and accomplish such intent and purpose, and further fully comply with and satisfy the
conditions of this Agreement; and further the City is agreeable to providing certain economic
incentives to Investor for purposes of defraying the costs of acquiring, renovating, installing, and
equipping the Renovation Project; and
WHEREAS, it is deemed necessary and advisable that this Agreement be entered into by
the parties setting forth their agreement with respect to the acquisition, renovation,
redevelopment, installation, and equipping of the Renovation Project, the conveyance of the
Property, and the economic incentives to be provided to defray the costs thereof.
NOW, THEREFORE, in consideration of the foregoing premises, and for other value
consideration, the legal adequacy and sufficiency of which is hereby acknowledged by all parties
hereto, the parties do covenant and agree as follows:
1. Sale of Property. The City covenants and agrees to sell and convey unto
Investor, and Investor covenants and agrees to purchase and receive from City, the Property, and
all improvements, appurtenances, equipment, easements, access rights, and other ancillary rights
associated therewith. The sale and conveyance of the Property shall be subject to the terms and
conditions as hereinafter defined.
2. Purchase Price. The purchase price to be paid by the Investor to the City
for the Property shall be One Dollar ($1.00). The purchase price shall be paid by Investor at time
of closing.
3. Conditions to Conveyance. It is expressly agreed and understood that the
City's obligation to sell and convey the Property to the Investor, and Investor's right to acquire
the Property from the City, shall be subject to Investor' full compliance and satisfaction of all of
( the following conditions:
a. Compliance with renovation requirements. Investor shall
renovate, redevelop, install and equip the Property in accordance with all incorporated
documents and terms, which shall specifically include the following:
(1) Investor shall present to the City an overall design of the
Renovation Project, together with detailed plans and specifications
which particularize the specifics of the renovation to be made to
315
the Property, which shall include detailed illustrations of floor
plans and use of space; front, side, and rear elevations of exterior
facades, including any significant architectural detail; the exterior
appearance of the renovation; and other pertinent aspects of the
Renovation Project, all of which shall be described and presented
in a large, clear, and sufficiently detailed manner and must be
reviewed and approved for Building Code compliance by the City
Inspection Department.
(2) Investor shall present to the City a certification as to Investor's
intended use of the Property, and Investor's commitment to
comply with such intended use following closing.
(3) Investor shall present to the City an estimate prepared by a
professional engineer, architect, or contractor which provides a
reasonable and detailed estimate of the entire cost of the
Renovation Project, including a specific itemization of a cost
estimate for each major component of the Renovation Project.
(4) Investor shall present to the City evidence of Investor's financial
ability to pay and satisfy the estimated total cost of construction of
the Renovation Project, which shall include reference to any grants
or special financing which the Investor's intends to procure to
assist in funding the Renovation Project.
(5) Investor shall present to the City an estimated timetable which
shall set forth a schedule of the completion dates of the various
major components of the Renovation Project, and the final
completion date of construction.
(6) Investor shall present to the City any and all other documents and
records which the City may request which assists the City in
evaluating the Renovation Project, and Investor's ability to pay and
satisfy the costs and expenses of construction.
b. Substantial Completion. The Renovation Project will be divided
into two (2) phases. Phase I will involve all exterior renovations to the Property and the interior
renovation and improvement of that portion of the Property generally known as the "Arcade"
resulting in high-end office rental space. Phase II will involve the renovation and improvement
of that portion of the Property generally known as the "Theater" also resulting in high-end office
rental space. Investor agrees that all Phase I renovations must be substantially completed within
a period of twelve (12) months following the date of the conveyance of the Property from the
City to the Investor ("Phase I Completion Date"), in compliance with the above described
renovation requirements and all Phase II renovations must be substantially completed within a
period of twenty-four (24) months following the date of the conveyance of the Property from the
City to the Investor ("Phase II Completion Date"), in compliance with the above described
renovation requirements. Phase I Completion Date and Phase II Completion Dates shall be
collectively referred to as the "Completion Dates." Substantial completion shall mean that the
Planner and the Chief Building Inspector for the City of Paducah shall have issued a certificate
of compliance with the terms of this Agreement. Investor shall be entitled to one 30 -day
extension of each Completion Date in the event there is 90 percent completion as of the proposed
Completion Date. Said extension shall only be granted upon the written request of Investor on or
before the expiration of each Completion Date. The Completion Dates shall be further extended
by the written approval of City in the event of a natural disaster, catastrophe occurrence, or other
circumstance beyond Investor's control.
The conveyance of the Property from City to the Investor is contingent upon
Investor's present and continued compliance with these conditions. In the event Investor fails to
satisfy any of the foregoing conditions, City shall have the right, at its option, to terminate this
Agreement, and upon the exercise of such right, this Agreement shall be deemed terminated and
of no legal force and effect. In addition to the foregoing, the City shall also have the right to
2
316
reserve in any deed of conveyance of the Property the right of reversion wherein the Property
reverts back to the City in the event Investor fails to comply with any of the foregoing conditions
following closing. The conditions set forth herein shall specifically survive the consummation of
the conveyance of the Property from the City to the Investor.
4. Representations and Warranties. City represents and warrants to
Investor that to the best of its knowledge: (a) the City has merchantable title to the property free
and clear of any liens and encumbrances, except for easements retained in this Agreement,
easements, restrictions and covenants of record, and zoning code regulations; and (b) except for
this Agreement, the City is not aware of any, purchase contracts, leases, options or other
agreements of any kind whereby any other person or entity has the right to use, occupy, or
acquire the Property or any interest therein.
5. Closing. Sale and purchase contemplated by this Agreement shall be
consummated in Paducah, Kentucky, on or before August 31, 2007. Closing shall take place at
such time and place as designated by the City. At the closing, City shall deliver to Investor a
special warranty deed of conveyance vesting in Investor title to the property which Investor is
entitled to acquire hereunder, subject, however, to a right of reversion in the City wherein the
Property reverts back to the City should Investor fail to comply any of the aforementioned
conditions, a copy of which deed of conveyance is attached hereto as Exhibit `B." Simultaneous
thereto, Investor shall, in exchange for the transfer of such deed, pay to City the purchase price
of $1.00.
6. Taxes and Assessments. Taxes and assessments for the current year
shall be prorated between City and Investor as of the date of closing.
7. Transfer of Title --Risk of Loss. Title and possession to the Property sold
hereunder shall pass to Investor on the closing date upon delivery to Investor the aforementioned
deed of conveyance, at which time risk of loss shall pass to Investor.
8. Brokerage Fees. If any brokerage or finder's fee claims shall be made
based on this Agreement, the defense of said claim shall be the responsibility of the party that the
claimant asserts made the commitment on which the claim is based, and additionally, such party
shall pay and satisfy such claim should the claim be deemed valid by any court of competent
jurisdiction. Additionally, such party shall indemnify the other party from any and all costs and
expenses incurred by reason of such claim, including reasonable attorney fees.
9. The City's Economic Incentives:
a. The City agrees to provide a cash grant of $100,000.00 to Investor
to defray the cost of installing a new roof on the Arcade Theater building.
b. The City agrees to provide a cash grant of $25,000.00 to Investor
to defray the cost of asbestos abatement.
10. Rescission and Reimbursement of Grant Monies:
a. If Investor fails to satisfy their commitments hereunder by the
Completion Date, the Investor shall promptly take all reasonable steps to cause the transfer and
conveyance of the Property back to the City, at no out-of-pocket cost to the City, such that as
nearly as practicable the City is restored with merchantable fee title to the Property free and clear
of any liens, encumbrances and adverse interests.
b. If Investor fails to satisfy their commitments hereunder by the
W Completion Date, the Investor shall fully reimburse the City for the cash grants set forth in
Section 9 of this Agreement. The aforesaid reimbursement shall include interest at N.Y. prime,
as published in the Wall Street Journal, on the date of the receipt of the grant money by the
Investor. Notwithstanding the foregoing, the City may, at its sole discretion: (a) seek only a pro
rata reimbursement or, (b) waive any reimbursement.
11. Easements to be Retained by the City. The City, its successors and
assigns, shall reserve unto itself the following permanent and perpetual easements over, upon
3
317
and across the Property for purposes of providing permanent access to the City's adjacent real
property, generally known as the Columbia Theater building, and to accommodate an
encroachment onto the Property of the Columbia Theater's second floor balcony:
a. An easement for purposes of ingress, egress, and access which transverses
the northwesterly lot line of the Property and serves the adjoining property
of the City. The easement is approximately 8 feet in width fronting on
Broadway and running toward the rear of the lot a uniform width for a
distance of approximately 125 feet. Location of easement depicted on
Exhibit A to the Deed of Conveyance.
b. An easement for purposes of ingress, egress, and access which transverses
the southeasterly lot line of the Property and serves the adjoining property
of the City. The easement is approximately 6.5 feet in width fronting on
Fifth Street and running along the rear of the lot a uniform width for a
distance of approximately 110.85 feet. Location of easement depicted on
Exhibit A to the Deed of Conveyance.
C. An easement for purpose of permitting the encroachment of the second
floor balcony of the Columbia Theater and the maintenance, repair and
replacement of said balcony which transverses the northwesterly lot line of
the Property and serves the adjoining property of the City. The easement
is approximately 8 feet in width fronting on Broadway and running toward
the rear of the lot a uniform width for a distance of approximately 15 feet.
Location of easement depicted on Exhibit A to the Deed of Conveyance.
These easements shall be specifically described in the proposed deed of
conveyance from the City to the Investor
12. Miscellaneous Provisions. The following miscellaneous provisions shall
apply:
a. Assignment. This Agreement shall be binding upon and shall �!
inure to the benefit of the parties hereto, and their respective legal representatives, heirs,
successors and permitted assigns. The Investor shall not assign their rights and obligations
hereunder, in whole or in part, without the prior consent of the Seller, but in no event, shall any
assignment hereunder release or relieve Investor from any obligations of this Agreement for
which Investor shall remain fully bound to Seller.
b. Merger Clause. It is agreed and understood between the parties
that this Agreement regarding sale of assets together with the appendices represents the entire
and exclusive agreement between the parties, and that all prior representations, covenants,
warranties, understandings and agreements are merged herein. This Agreement may only be
modified in a writing executed by all parties hereto.
C. Construction. This Agreement shall be governed and construed
under the laws of the Commonwealth of Kentucky.
d. Assurances. City and the Investor agree to execute such further
documents and instruments as shall be necessary to fully carry out the terms of this Agreement.
e. Limitation of Liability. The parties understand and agree that no
officer, director, employee, agent or shareholder of any of the parties shall have any personal
liability, directly or indirectly, under or in connection with this Agreement or any agreement
made or entered into under or in connection with this Agreement. 0
f. Amendments. This Agreement may not be modified or amended
unless by a writing signed by both parties hereto.
g. Execution and Delivery. This Agreement shall be of no force or
effect unless and until it shall have been executed and delivered by both the City and the
Investor.
C!
WITNESS signatures of the parties as of the year and date first above written.
INVESTOR:
G & L INVESTMENT ENTERPRISE, LLC
By
By
�I
Sharon Graves, member
Brent Lamo, member
SELLER:
CITY OF PADUCAH, KENTUCKY
Lo
Title
5
318
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318-A
EXHIBIT "A" TO MOU
The Property
500-508 Broadway (Arcade Theater Building)
Being part of Lot No. 190 in Block #22 in Town B. First Addition to the City of Paducah;
Beginning on the west side of 5th (formerly Chestnut) Street at the corner of Broadway and 5th
streets opposite the Custom -House Building; Thence out Broadway Street in a westerly direction
one hundred and ten (110) feet and seven (7) inches, on about that distance at right angles
towards the center of the block and Kentucky Avenue (formerly Court Street), One Hundred and
Seventy -Three (173) feet and three (3) inches with the line of Friedman, Keiler and Nahm
Property; Thence at right angles in an easterly direction 110 feet and 7 inches, or about that
distance to 5th (Formerly Chestnut) Street; Thence with the line of 5th Street in a northerly
direction, 173 feet and 3 inches to the place of beginning, on the corner of Broadway and Fifth
Streets.
Being the same property conveyed to the City of Paducah, Kentucky, by deed dated December
18, 2003 of record in Deed Book 1028, page 720, in the McCracken County Clerk's Office.
G
318-B
EXHIBIT `B" TO MOU
DEED OF CONVEYANCE
THIS DEED made and entered into this the day of August, 2007, by and
between CITY OF PADUCAH, KENTUCKY, a municipal corporation, organized under the
laws of the Commonwealth of Kentucky, a second class city, with its principal mailing address at
P. O. Box 2267, Paducah, Kentucky 42002-2267, "Grantor," and G & L INVESTMENT
ENTERPRISE, LLC, a Kentucky limited liability company, with its principal mailing address at
10790 Encino Drive, Oak View, California 93022, "Grantee;"
WITNESSETH:
THAT FOR AND IN CONSIDERATION of the sum of $1.00, cash in hand paid
by the Grantee to the Grantor, the receipt of which is hereby acknowledged, and the further
consideration of Grantee's agreement and promise to improve and renovate the Arcade Theater
building and related improvements located upon the property herein conveyed in accordance
with the terms and conditions as set forth in that certain Memorandum of Understanding dated
August , 2007, entered into by and between Grantor and Grantee, Grantor sold and does by
these presents grant, bargain, sell, alien and convey unto the Grantee, its successors and assigns
forever, SUBJECT, HOWEVER, TO THE REVERSION RIGHT AND/OR RIGHT OF ENTRY
OF GRANTOR AS DEFINED HEREIN, together with all the improvements, appurtenances and
rights thereunto belonging, the following described property, lying and being in McCracken
County, Kentucky, and more particularly described as follows:
500-508 Broadway (Arcade Theater Building)
Being part of Lot No. 190 in Block #22 in Town B. First Addition to the City of Paducah;
Beginning on the west side of 5t' (formerly Chestnut) Street at the corner of Broadway
and 5h streets opposite the Custom -House Building; Thence out Broadway Street in a
westerly direction one hundred and ten (110) feet and seven (7) inches, on about that
distance at right angles towards the center of the block and Kentucky Avenue (formerly
Court Street), One Hundred and Seventy -Three (173) feet and three (3) inches with the
line of Friedman, Keiler and Nahm Property; Thence at right angles in an easterly
direction 110 feet and 7 inches, or about that distance to 5t' (Formerly Chestnut) Street;
Thence with the line of 5t' Street in a northerly direction, 173 feet and 3 inches to the
place of beginning, on the corner of Broadway and Fifth Streets.
Being the same property conveyed to the City of Paducah, Kentucky, by deed dated
December 18, 2003 of record in Deed Book 1028, page 720, in the McCracken County
Clerk's Office.
TO HAVE AND TO HOLD the same, together with all improvements thereon
and all rights and appurtenances thereunto pertaining unto Grantee, its successors and assigns
7
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318-C
forever, with Covenant of Special Warranty, except easements, covenants and restrictions of
record SUBJECT, HOWEVER, TO THE REVERSION RIGHT AND/OR RIGHT OF ENTRY
OF GRANTOR AS DEFINED HEREIN,
As the primary consideration herein, Grantee has agreed to renovate, redevelop,
install and equip the Arcade Theater building and all other improvements located on the herein
described property in full compliance and satisfaction with all terms and conditions as set forth
in that certain Memorandum of Understanding dated August , 2007, entered into by and
between Grantor and Grantee ("MOU"). The terms and conditions of said MOU are fully
incorporated herein by reference. In the event Grantee fails to fully comply with the terms and
conditions of the MOU as set forth therein, this deed of conveyance shall become forfeited, and
the herein described property, and all the rights herein conveyed, shall at once revert to and
revest in and become the property of Grantor, its successors and assigns (with any declaration of
forfeiture or act of reentry, and without any other act by the Grantor to be performed, and
without any right of Grantee to reclamation or compensation for moneys paid or improvements
made), as absolutely, fully and perfectly as if this deed of conveyance had never been made.
Notwithstanding the foregoing and in the event of forfeiture by Grantee and reversion to Grantor,
Grantor may, at its sole discretion, reimburse Grantee for all or a portion of the actual cost of the
renovations and improvements made by Grantee to the herein described property. Evidence of
such actual cost must be appropriately documented.
Grantor, its successors, assigns, tenants, and invitees, reserves, retains, and
excepts the following permanent, perpetual easements over, across, and through the herein
conveyed property for purposes of providing access to the Grantor's adj acent real property,
generally known as the :Columbia Theater building, and accommodating an encroachment of the
Columbia Theater's second floor balcony:
a. An easement for purposes of ingress, egress, and access which transverses
the northwesterly lot line of the herein conveyed property and serves the
adjoining property of the City. The easement is approximately 8 feet in
width fronting on Broadway and running toward the rear of the lot a
uniform width for a distance of approximately 125 feet. Location of
easement depicted on Exhibit A to the Deed of Conveyance.
b. An easement for purposes of ingress, egress, and access which transverses
the southeasterly lot line of the herein conveyed property and serves the
adjoining property of the City. The easement is approximately 6.5 feet in
width fronting on Fifth Street and running along the rear of the lot a
uniform width for a distance of approximately 110.85 feet. Location of
easement depicted on Exhibit A to the Deed of Conveyance.
C. An easement for purpose of permitting the encroachment of the second
floor balcony of the Columbia Theater and the maintenance, repair and
replacement of said balcony which transverses the northwesterly lot line of
the herein conveyed property and serves the adjoining property of the
City. The easement is approximately 8 feet in width fronting on
Broadway and running toward the rear of the lot a uniform width for a
distance of approximately 15 feet. Location of easement depicted on
Exhibit A to the Deed of Conveyance.
Grantor and Grantee hereby swear and affirm, under penalty of perjury, that the
consideration recited herein is the full actual consideration paid or to be paid for the property
transferred hereby, and further, that the estimated fair cash value for the property hereby
transferred is : $1,442,000.00. The Grantee joins this deed for the sole purpose of certifying the
consideration.
hands.
IN WITNESS WHEREOF, the Grantor and Grantee have hereunto set their
E
GRANTOR:
CITY OF PADUCAH, KENTUCKY
:A
Title
GRANTEE:
G & L INVESTMENT ENTERPRISE, LLC
�0
Sharon Graves, member
Brent Lamo, member
318-D
318-E
STATE OF KENTUCKY )
COUNTY OF MCCRACKEN )
of
The foregoing instrument was sworn and acknowledged before me this
2007, by (name),
(title), of the City of Paducah, Kentucky, on behalf of said
municipality, Grantor.
My commission expires
STATE OF CALIFORNIA )
COUNTY OF )
day
Notary Public, State of Kentucky at Large
The foregoing instrument was sworn and acknowledged before me this day
of , 2007, by Sharon Graves, member of G & L Investment Enterprise, LLC, a
Kentucky limited liability company, on behalf of said company, Grantee.
My commission expires
Notary Public, State of Kentucky at Large
STATE OF CALIFORNIA )
COUNTY OF
The foregoing instrument was sworn and acknowledged before me this day
of , 2007, by Brent Lamo, member of G & L Investment Enterprise, LLC, a
Kentucky limited liability company, on behalf of said company, Grantee.
My commission expires
Prepared by:
Denton & Keuler, LLP.
P. O. Box 929
Paducah, Kentucky 42002-0929
10
Notary Public, State of Kentucky at Large
cl�
EXHIBIT A TO THE DEED OF CONVEYANCE
SEE ATTACHED PLAT
11
318-F
See pg. 314 - This amends
Investor name. 2007-7-7297
SEPTEMBER 11, 2007
I hereby move that the City of Paducah approve the assignment of the
i
Memorandum of Understanding between Sharon Graves and Brent Lamo and the City of
Paducah pertaining to incentives for the Arcade Theatre Project and that pursuant to the
aforesaid Memorandum of Understanding said Graves and Lamo shall remain bound by
all obligations therein.
0
\motions\assign-Arcade Theatre
318-G