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HomeMy WebLinkAbout09549RESOLUTION NO. 9s49 A RESOLUTION APPROVING AN AMENDMENT TO THE CREDIT CARD SELF SERVE FUELING OPERATION GROUND LEASE AGREEMENT BETWEEN THE CITY OF PUEBLO, A MUNICIPAL CORPORATION, AND AIRPORT PROPERTIES, INC., A TEXAS CORPORATION, AND AUTHORIZING THE PRESIDENT OF CITY COUNCIL TO EXECUTE SAME WHEREAS, the City of Pueblo, A Municipal Corporation, and Airport Properties, Inc., a Texas Corporation, entered into a Credit Card Self Serve Fueling Operation Ground Lease Agreement on February 25, 2002, and WHEREAS, both parties wish to amend the provisions of the Lease, now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. A certain Amendment to the Credit Card Self Serve Fueling Operation Ground Lease Agreement, a copy of which is attached hereto and made a part hereof by reference, after having been approved as to form by the City Attorney, by and between the City of Pueblo, a Municipal Corporation, and Airport Properties, Inc., a Texas Corporation, relating to the lease of ground at the Airport, is hereby approved, subject to the conditions as set forth in said Amendment. SECTION 2. The President of the City Council is hereby authorized to execute said Amendment 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 25.2002 BY: Patrick Avalos CO CIL PERSON APPROVED: PRESIDENT OF CITY COUNCIL ATTESTED BY: o- Y CLERK 11 Background Paper for Proposed RESOLUTION AGENDA ITEM # t5 DATE: March 18, 2002 DEPARTMENT: AVIATION -JOHN O'NEAL TITLE A RESOLUTION APPROVING AN AMENDMENT TO THE CREDIT CARD SELF SERVE FUELING OPERATION GROUND LEASE AGREEMENT BETWEEN THE CITY OF PUEBLO, A MUNICIPAL CORPORATION, AND AIRPORT PROPERTIES, INC., A TEXAS CORPORATION, AND AUTHORIZING THE PRESIDENT OF CITY COUNCIL TO EXECUTE SAME ISSUE Should City Council approve an Amendment to the Credit Card Self Serve Fueling Operation Ground Lease Agreement between the City of Pueblo and Airport Properties, Inc.? RECOMMENDATION Approval of this Resolution. BACKGROUND City Council approved a Credit Card Self Serve Fueling Operation Ground Lease between the City and Airport Properties on February 25, 2002 under Resolution No. 9536. The commencement date of the Lease is January 1, 2002. Since the approval did not occur until after the commencement date, Airport Properties has requested that the commencement date be changed due to the time constraints for improvements that are in the lease. Therefore, this Amendment will change the commencement date to February 26, 2002 and ending date to February 25, 2022. FINANCIAL IMPACT None. AMENDMENT TO CREDIT CARD SELF SERVE FUELING OPERATION GROUND LEASE THIS AMENDMENT entered into this 25th d o f March , 2002 A.D. between the City of Pueblo, a municipal corporation (the "Lessor"), and Airport Properties, Inc., a Texas Corporation (the "Lessee "), WITNESSETH: WHEREAS, Lessor and Lessee entered into a Credit Card Self Serve Fueling Operation Ground Lease dated February 25, 2002 relating to the lease of a tract of ground on Airport property for the purpose of constructing and occupying a credit card self service fueling system and improvements, WHEREAS, Lessor and Lessee are desirous of modifying the provisions of the Lease, NOW THEREFORE, in consideration of the mutual covenants contained herein, Lessor and Lessee agree as follows: 1. Section 2A of the Agreement is amended to read as follows: The initial term on this Lease is for a period of ten (10) years commencing FebnL41y 26. 2002 ( "commencement date ") and ending February 25.2012 unless sooner terminated or extended as herein provided. 2. The Agreement as modified and amended by this Amendment to the Credit Card Self Serve Fueling Operation Ground Lease shall remain in full force and effect. Signed in Pueblo, Colorado the day and year first above written. CITY OF PUfEBLO, A Municipal Corporation By Title: President of City Council Attest: City C1 LESSEE AIRPORT PROPERTIES, INC. B Y �- /W/ / 4-0 r 14446sident, Jack H. Cox Approved as to form: City Alto