HomeMy WebLinkAbout12312RESOLUTION NO. 12312
A RESOLUTION CONSENTING TO THE ASSIGNMENT OF
THE HANGAR GROUND LEASE DATED MARCH 24, 1997
BETWEEN THE CITY OF PUEBLO AND K & N PARTNERS,
CO., A CO-PARTNERSHIP, AND AUTHORIZING THE
PRESIDENT OF CITY COUNCIL TO EXECUTE SAME
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The Consent to Assignment, a copy of which is attached hereto, having been approved as
to form by the City Attorney, is hereby approved, and the President of the City Council is
authorized to execute and deliver the Consent to Assignment in the name of the City and the City
Clerk to attest same and affix the seal of the City thereto.
INTRODUCED: February 13, 2012
BY: Judy Weaver
COUNCIL PERSON
Background Paper for Proposed
R
ESOLUTION
AGENDA ITEM
# M-4
DATE:
February 13, 2012
DEPARTMENT:
DEPARTMENT OFAVIATION
MARK LOVIN, DIRECTOR
TITLE
A RESOLUTION CONSENTING TO THE ASSIGNMENT OF THE HANGAR GROUND
LEASE DATED MARCH 24, 1997 BETWEEN THE CITY OF PUEBLO AND K & N
PARTNERS, CO., A CO-PARTNERSHIP, AND AUTHORIZING THE PRESIDENT OF CITY
COUNCIL TO EXECUTE SAME
ISSUE
Should City Council consent to the assignment of a hangar ground lease?
RECOMMENDATION
Approval of this Resolution.
BACKGROUND
The City entered into a hangar ground lease agreement with K & N Partners on March 24, 1997
for Lot 4 in the General Aviation Hangar Development Area. On December 8, 1997, the City
agreed to an assignment of the lease to Paul R. Nunn. A Statement of Transfer was entered into
with Sharrie I. Nunn and Kristine Irene Nunn on February 10, 2009 due to Mr. Nunn’s death.
The Nunns have sold the hangar to Richard F. Leach, Jr. and have asked that the City reassign
the ground lease to him.
FINANCIAL IMPACT
There will be no financial impact as Richard F. Leach, Jr. will take over the Hangar Ground
Lease payment.
ASSIGNMENT
This Assignment entered into as of February 13, 2012 between Sharrie I. Nunn and
Kristine Irene Nunn (herein collectively known as "Assignor ") and Richard F. Leach, Jr.
( "Assignee ") WITNESSETH
RECITALS
A. Paul R. Nunn was the Lessee by assignment of a Hangar Ground Lease dated
March 24, 1997 between the City of Pueblo as Lessor and K &N Partners, Co., a co- partnership
as Lessee, of the ground referred to as Lot 4 in the General Aviation Hangar Development Area
of Pueblo Memorial Airport, Pueblo, Colorado ( "Hangar Ground Lease ").
B. Paul R. Nunn is now deceased and a Statement of Transfer was entered into as of
February 10, 2009 between the City of Pueblo, acting by and through its Department of Aviation,
and Assignor.
C. Assignee is willing to accept the assignment of the Hangar Ground Lease.
NOW THEREFORE, in consideration of the foregoing recitals and mutual covenants
contained herein, Assignor and Assignee agree as follows:
1. Assignor transfers, sells and assigns to Assignee all of Assignor's right, title and
interest in and to the Hangar Ground Lease.
2. Assignee accepts the assignment of the Hangar Ground Lease and agrees to make
all payments and perform all covenants, duties, obligations and responsibilities of Lessee under
the Hangar Ground Lease and to indemnify and save harmless Assignor therefrom.
3. This Assignment shall not be effective until consented to by the City of Pueblo by
Resolution of its City Council.
Executed at Pueblo, Colorado as of the day and year first above written.
ASSIGNOR: ASSIGNEE:
Sharrie I. Nunn and Richard F. Leach, Jr.
Kristine Irene Nunn 31914 Highway 50 East
Pueblo, CO 81006
(719) 948 -4242
X SC r l� /
∎ l X ad
Name: Sharrie I. Nunn Name: chard F. Leach, .
�► _
Name: 'stine Irene Nunn
CONSENT TO ASSIGNMENT
The City of Pueblo as Lessor under the Hangar Ground Lease, in reliance upon the
Recitals and provisions of the foregoing Assignment, consents to the foregoing Assignment of
the Hangar Ground Lease by Assignor to Assignee on the express condition that no further
assignment of the Hangar Ground Lease or any part thereof shall be made without the prior
written consent of the City of Pueblo.
Executed in Pueblo, Colorado the 13 day of February , 2012.
CITY OF PUEBLO,
A MUNICIPAL CORPORATION
ATTEST- •.r /L/
S Kaufm.
President of Ci y Council
City lerk
STATEMENT OF TRANSFER
This Statement of Transfer entered into as of February 10, 2009 by and between the City
of Pueblo acting by and through its Department of Aviation ( "City") and Sharrie I. Nunn and
Kristine Irene Nunn (herein collective the "Nunns "), Witnesseth
Whereas, Paul R. Nunn was the Lessee by assignment of that certain Hangar Ground
Lease dated March 24, 1997 between the City of Pueblo as Lessor, and K &N Partners, Co., a co-
partnership as Lessee of the ground and hangar referred to as Lot 4 in the General Aviation
Hangar Development Area of Pueblo Memorial Airport, Pueblo, Colorado ( "Hangar Lease "), and
Whereas, Paul R. Nunn is now deceased and the Nunns have filed an Affidavit with the
City stating they are the heirs and sole beneficiaries of the estate of Paul R. Nunn, deceased, and
Whereas, the Nunns have requested the City to recognize them as successors in interest of
Paul R. Nunn in and to the Hangar Lease, and
Whereas, City is willing to so recognize the Nunns upon the terms and provisions of this
Statement of Transfer,
Now Therefore, in consideration of the foregoing and mutual covenants contained herein,
City and Nunns agree as follows:
1. Nunns represent and warrant that they are the heirs and sole beneficiaries of Paul
R. Nunn, deceased.
2. Nunns have been furnished a copy of the Hangar Lease, acknowledge they are
familiar with the contents thereof, agree to be bound by all the terms, provisions and conditions
of the Hangar Lease, and agree to perform all provisions of the Hangar Lease on the part of the
Lessee to be performed thereunder, to the same extent as if Nunns had been the original Lessee
thereunder.
3. In reliance upon Nunns' representation and warranties herein set forth, City will
recognize the Nunns, as joint tenants with the right of survivorship, as Lessee under the Ground
Lease, subject to the provisions thereof.
4. This Statement of Transfer shall be binding upon the parties hereto and their
respective heirs, personal representatives, successors and approved assigns; be construed in
accordance with the laws of the State of Colorado; and may not be amended except by written
instrument executed by both parties.
5. In the event of any litigation arising out of this Statement of Transfer or the
Hangar Lease, the court shall award the prevailing party its costs and reasonable attorney fees.
Exclusive venue for any such litigation shall be Pueblo County, Colorado.
Executed at Pueblo, Colorado on the day and year first above written.
City of Pueblo acting by and through
its Department of Aviation
By 110.41
Sharrie I. Nunn Director of Aviation
.11, � � Approved as to form:
Kri tine Irene Nunn
Cit Attorney