HomeMy WebLinkAbout8644RESOLUTION NO. 8644
A RESOLUTION TERMINATING THE HANGAR GROUND LEASE AGREEMENT
BETWEEN THE CITY OF PUEBLO, A MUNICIPAL CORPORATION, AND JAMES
WARK FOR LOT NO. 9 IN THE GENERAL AVIATION HANGAR DEVELOPMENT
AREA, AND AUTHORIZING THE PRESIDENT OF CITY COUNCIL TO EXECUTE
SAME
WHEREAS, the City of Pueblo, a Municipal Corporation, and James Wark entered
into a Hangar Ground Lease on the 13th of April 1998, for Lot No. 9 in the General
Aviation Hangar Development area; and
WHEREAS, both parties wish to terminate this Lease Agreement; and
NOW, THEREFORE, be it resolved by the City Council of Pueblo, Colorado, that:
SECTION 1.
A certain Lease Agreement, by and between the City of Pueblo, a Municipal
Corporation, and James Wark for Lot No. 9 in the General Aviation Hangar Development
area at Pueblo Memorial Airport is hereby terminated.
SECTION 2.
The President of the City Council is hereby authorized to execute the termination
of said Lease Agreement on behalf of the City of Pueblo, a Municipal Corporation, and
the City Clerk shall affix the Seal of the City thereto and attest the same.
INTRODUCED March 22, 1999
BY: Al Gurule
Councilperson
APPROVED: . N a- m6'1
President of the Council
ATTEST:
Council Agenda
LEASE AGREEMENT TERMINATION BETWEEN
TITLE: CITY OF PUEBLO & JAMES WARK FOR HANGAR AGENDA ITEM #
LOT No. 9
DEPARTMENT: PUEBLO MEMORIAL AIRPORT DATE: MARCH 22, 1999
ISSUE
Should the City Council approve a Resolution to terminate the Hangar Ground Lease
Agreement between the City of Pueblo and James Wark for Lot No. 9 in the General Aviation
Hangar Development Area.
RECOMMENDATION
Approval of this Resolution.
BACKGROUND
On April 13, 1998, City Council approved a Hangar Ground Lease Agreement between the
City and James Wark for Lot No. 9 in the General Aviation Hangar Development Area under
Resolution No. 8383. Mr. Wark has asked that the lease be terminated.
At this time, we have a waiting list of people interested in leasing lots to build hangars.
They will be contacted and offered the opportunity to lease this lot.
FINANCIAL IMPACT
The initial lease amount was $490.00 annually. The combined service fee was $66.94 per
year based on $297.50 per acre annually.
LEASE TERMINATION
This Lease Termination entered into as of Ma rch 22 , 1 Q9q between Pueblo, a
municipal corporation (the "Lessor ") and James Wark (the "Lessee ").
In consideration of the mutual covenants contained herein and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, Lessor and Lessee agree
as follows:
1. The Hangar Ground Lease dated April 13, 1998 between Lessor and Lessee for Lot
9 in the General Aviation Hangar Development Area at Pueblo Memorial Airport is terminated and
cancelled effective March 22, 1999 , and Lessor and Lessee are released and discharged
from all obligations thereunder.
2. This Lease Termination shall inure to the benefit and be binding upon Lessor and
Lessee and their respective heirs, personal representatives, successors and assigns.
Signed at Pueblo, Colorado as the day and year first above written.
LESSEE
LESSOR
By
J es Wark resident of the City Council
ATTEST
_NI WVW
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