HomeMy WebLinkAbout11604RESOLUTION NO. 11604
A RESOLUTION APPROVING CONSENT TO
ASSIGNMENT AND LEASE MODIFICATION BETWEEN
THE CITY OF PUEBLO AND IN TRIPLICATE, LLC
RELATING TO THE WALKINGSTICK MUNICIPAL GOLF
COURSE RESTAURANT AND LOUNGE MANAGEMENT
AGREEMENT, AND AUTHORIZING THE PRESIDENT OF
THE CITY COUNCIL TO EXECUTE SAME
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
The Consent to Assignment and Lease Modification (ALease Modification @)
dated May 11, 2009 between the City of Pueblo and In Triplicate, LLC relating to the
Walkingstick Municipal Golf Course Restaurant and Lounge Management Agreement, a
copy of which is attached hereto, having been approved as to form by the City Attorney,
is hereby approved. The President of the City Council is authorized to execute and
deliver the Lease Modification in the name of the City and the City Clerk is directed to
affix the seal of the City thereto.
SECTION 2
This Resolution shall become effective upon final passage and approval.
INTRODUCED: Mav 11. 2009
A77TSTDD SY:
CITY CLERK
BY: Judy Weaver
} Councilperson
APPR D' } �-
PRESIDENTaf Cfty Council
ED
Background Paper for Proposed
RESOLUTION
AGENDA ITEM # 2
DATE: May 11, 2009
DEPARTMENT: Law Department
TITLE
A RESOLUTION APPROVING CONSENT TO ASSIGNMENT AND LEASE
MODIFICATION BETWEEN THE CITY OF PUEBLO AND IN TRIPLICATE, LLC
RELATING TO THE WALKINGSTICK MUNICIPAL GOLF COURSE RESTAURANT
AND LOUNGE MANAGEMENT AGREEMENT, AND AUTHORIZING THE PRESIDENT
OF THE CITY COUNCIL TO EXECUTE SAME
ISSUE
Should City Council approve assignment of and amendments to the Walkingstick
Municipal Golf Course Restaurant and Lounge Management Agreement?
Approve the assignment and amendments.
BACKGROUND
Zaremba Enterprise, Inc. intends to assign its interest in the Walkingstick Municipal Golf
Course Restaurant and Lounge Management Agreement ( "Management Agreement')
to In Triplicate, LLC ( "Manager "). Manager will accept the assignment and agree to
perform all obligations under the Management Agreement. The term of the
Management Agreement will be 2 years from May 1, 2009 to April 30, 2011, with the
option to renew for 3 years from May 1, 2011 to April 30, 2014. Rent will be $2,000.00
each month. George A. Andrews, III will guaranty the performance of In Triplicate, LLC.
FINANCIAL IMPACT
Current rent is $2,000 per month and will not change under the Lease Modification.
.l"
CONSENT TO ASSIGNMENT AND LEASE MODIFICATION
THIS CONSENT TO ASSIGNMENT AND LEASE MODIFICATION ( "Lease Modifica-
tion") is entered into as of May 11, 2009 between City of Pueblo, a municipal corporation ( "City ")
and In Triplicate, LLC, a Colorado limited liability company ( "Manager ").
WHEREAS, Zaremba Enterprises, Inc. assigned and transferred all its right, title and interest
in and to the Walkingstick Municipal Golf Course Restaurant and Lounge Management Agreement
dated November 13, 2000 ( "Walkingstick Restaurant Agreement ") to Manager effective May 1, 2009
( "Assignment "), and
WHEREAS, Manager and City are desirous of modifying the Walkingstick Restaurant
Agreement.
NOW, THEREFORE, in consideration of the foregoing and mutual promises herein
contained City and Manager agree as follows:
1. City consents to the Assignment. Manager accepts the Assignment and agrees to be
bound thereby and to perform all covenants and provisions on the part of the Manager to be
performed under the Walkingstick Restaurant Agreement as modified and amended by the provisions
of this Lease Modification.
2. The Walkingstick Restaurant Agreement is hereby modified and amended as follows:
(a) The term of the Walkingstick Restaurant Agreement is for a period of two (2)
years commencing May 1, 2009 and ending April 30, 2011, unless sooner terminated as provided
in the Walkingstick Restaurant Agreement. If not in default under the Walkingstick Restaurant
Agreement, Manager shall have the option to extend the term of the Walkingstick Restaurant
Agreement for an additional period of three (3) years, from May 1, 2011 to April 30, 2014 upon the
same terms and conditions, except the option to extend the term. In order to exercise its option to
extend, Manager shall deliver to City written notice of its exercise of the option on or before January
10, 2011. If Manager fails to timely deliver to City its written notice to exercise the option, the
option shall expire and the term of the Walkingstick Restaurant Agreement shall end on April 30,
2011.
(b) Paragraphs 3(u) and 3(v) of the Walkingstick Restaurant Agreement are
deleted in their entirety.
(c) Paragraph 5 of the Walkingstick Restaurant Agreement is amended to read
as follows:
For the use of the Leased Facilities, Manager shall pay to the City monthly rent in the
amount of $2,000.00 for each calendar month during the term hereof. Monthly rent shall be
paid to the City Department of Finance, in advance, without notice, setoff, or deduction, on
or before the 1 st day of each calendar month, starting with the month of May 2009.
3. The Walkingstick Restaurant Agreement as modified and amended by the provisions
of this Lease Modification shall remain in full force and effect, binding upon and inuring to the
benefit of City and Manager and their respective successors and approved assigns.
Executed at Pueblo, Colorado as of the day and year first above written.
LLC
'•'� �/�
[SEAL]
CITY OF PUEBLO
By
President of the City Counc'.
_ L S EAL]
Attest: - -
Cityih erk -- -
Attest:
Title:
GUARANTY
In consideration of the City of Pueblo approving and executing the foregoing Consent To
Assignment And Lease Modification, the undersigned, George A. Andrews, III, does hereby
personally guarantee the performance of the Consent to Assignment and Lease Modification and the
Walkingstick Municipal Golf Course Restaurant and Lounge Agreement dated November 13, 2000
(collectively the "Agreements ") by In Triplicate, LLC. In the event of default by In Triplicate, LLC
under any provision of said Agreements and written notice thereof is given to George A. Andrews,
III, George A. Andrews, III will timely cure such default and perform all the covenants and provisions
of the Agreements to be performed by In Triplicate, LLC thereunder.
Signed as of May 11, 2009.
Georg A. Andrews, II
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