Ozark Mountain Bank (OMB) is trying to retroactively extend the lease between itself and the city of Branson that was used as the basis for threatening to tow the cars of a major exhibitor from the city’s convention center’s parking lot on Nov. 7. In a Nov.10 letter ,Ozark Mountain Bank (OMB) President/CEO, C. Craig Richards said, “The purpose of this letter is to confirm that Ozark Mountain Bank has exercised its option to renew the Parking Lease for the additional one (1) year term beginning April 5, 2007, and the additional one (1) year term beginning April 5, 2008.”
The lease in question is entitled “Parking Lease Ozark Mountain Bank” which became effective April 5, 2006 for an Initial Term of one year and which expired on April 4, 2007. Subsection 3.2 of the lease states “Prior to the expiration of the Initial Term and prior to the expiration of each Term thereafter as provided in this paragraph, OMB shall have the option to renew this Lease for additional one (1) year terms (each a ‘Term’)”.
That same subsection states the option “Shall occur by OMB providing written notice of such renewal to the City not less than thirty (3) days prior to the expiration of the then current Initial Term or Term.” Subsection 3.3 of the lease states “This Lease shall terminate in the event that OMB fails to exercise its option to renew during the then current Initial Term or Term, as provided in Section 3.2 above.”
An email was sent to the Dean Kruithof, Branson City Administrator, requesting along with other information copies of OMB’s latest request to renew the lease in accordance with Subsection 3.2. When no response had been received from the city by the morning of Nov. 12, Jerry Adams, Public Information Director was contacted. He said the email had been forwarded to OMB for their input and that the city had no documentation showing that OMB had exercised its option in accordance with the provisions of the lease.
On the afternoon of Nov. 12 Adams said the city had a response from OMB. The response was OMB’s Nov. 10 letter. In a phone conversation on the afternoon of Nov. 12 Richards admitted that OMB has no documentation establishing that OMB ever exercised its option in accordance with the terms of the lease.
Richards said that they have been paying the $30.00 per space required by the lease and the city has continued to accept their money. He also pointed out that the reason OMB got the lease was because when they sold OMB land to HCW Development, Inc. (HCW) for the convention center there was a provision that parking be provided for OMB. The Lease specifically acknowledges that the Lease is the vehicle by which the city will provide parking for OMB.
Richard’s acknowledgement of OMBs failure to comply with the written provision of the lease aside, the letter concludes with the statement, “Unless we are immediately advised to the contrary, we will assume that the parties are in agreement as to the matters stated herein.” On Nov. 13, Kruithof said he has no problems with the general provisions lease.
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Furnished Courtesy of the Branson Daily Independent.
