LUCILLE "LUCY" BALL - DOCUMENT SIGNED 12/01/1961 CO-SIGNED BY: DESI ARNAZ SR. - HFSID 176408

LUCILLE BALL and DESI ARNAZ
Having previously secured a half-million dollar loan with a mortgage on their rental property, the recently divorced couple assigns the rent to the mortgage company and agrees not to alter the terms of the lease.
Document signed: "Desi Arnaz", and "Lucille Ball Arnaz", 2 pages, 8½xa3. Hollywood, California, 1961 December 12. Signed on p2, (Ball with her married name, although the couple had divorced the previous year). Having used their rental property at 780 North Gower Street in Hollywood as collateral for a $500,000 loan from the Franklin Life Insurance Company of Illinois, Ball and Arnaz agree in this document not to cancel the lease, reduce the rent, or make any concession to the renter, Royal Inns, Inc. American actress LUCILLE BALL and Cuban Bandleader DESI ARNAZ were married in 1940, but their separate careers kept them apart during most of that decade. In 1948, Ball proved her talents as a comic actress on a CBS radio program, My Favorite Husband, playing the scatterbrained housewife she would portray on TV. When the show was being considered for television, CBS initially resisted the idea of casting Arnaz as the husband, but Luci and Desi proved that idea viable by embarking together on a successful summer tour. I Love Lucy, starring the pair as husband and wife, debuted in 1951 and became one of the all-time recognized classics of television. Despite the birth of two children, the marriage was troubled however, and Ball filed for divorce the day after the filming of the final episode in March 1960. The former couple remained affectionate friends, but Lucy purchased Arnaz's shares in their successful production company, Desilu Productions, in 1962. Desi and especially Lucy had good business sense, but the mounting costs of TV production during the 1960s put a strain on Desilu Productions and forced sale of some assets. The rental property on Gower Street had formerly housed one of Desilu's many film studios. Light corner creases. Staple holes at upper left corner. Otherwise, fine condition.