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HomeMy WebLinkAbout12761 RESOLUTION NO. 12761 A RESOLUTION CONSENTING TO THE ASSIGNMENT OF THE HANGAR GROUND LEASE DATED APRIL 11, 2005 BETWEEN THE CITY OF PUEBLO AND BONGIRNO FAMILY TRUST DATED 11/19/84, 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. SECTION 2. The officers and staff of the City are directed and authorized to perform any and all acts consistent with the intent of this Resolution and the attached assignment to effectuate the transactions described therein. SECTION 3. This Resolution shall become effective immediately upon final passage and approval. INTRODUCED: August 26, 2013 BY: Ami Nawrocki Background Paper for Proposed RESOLUTION DATE: AGENDA ITEM # M-6 August 26, 2013 DEPARTMENT: DEPARTMENT OFAVIATION MARK LOVIN, DIRECTOR TITLE A RESOLUTION CONSENTING TO THE ASSIGNMENT OF THE HANGAR GROUND LEASE DATED APRIL 11, 2005 BETWEEN THE CITY OF PUEBLO AND BONGIRNO FAMILY TRUST DATED 11/19/84, 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 Bongirno Family Trust dated 11/19/84, on April 11, 2005 for land in the General Aviation Hangar Development Area so the Bongirno family could build a hangar. Construction of the hangar was completed in December 2005. The Bongirno Family Trust has sold the hangar to Donald E. Staruh and has asked that the City assign the ground lease to him. All terms of the ground lease will remain the same. FINANCIAL IMPACT None. 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 26th day of August , 2013. CITY OF PUEBLO, A MUNICIPAL CORPORATION ATTEST: By _! Stephen G. Nawrocki President of City Council City Jerk ASSIGNMENT This Assignment entered into as of 7 This between Bongirno Family Trust dated 11/19/84 (herein known as " signor ") and Donald E. Staruh ( "Assignee ") WITNESSETH RECITALS A. The Assignor, as Lessee, entered into a Hangar Ground Lease dated April 11, 2005 with the City of Pueblo, a Municipal Corporation, as Lessor, for certain land at the Pueblo Memorial Airport to occupy, maintain, and operate a hangar facility on the leased land (Hangar Ground Lease "). . B. 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: Bongirno Family Trust dated 11/19/84 Donald E. Staruh 5630 Riverview Lane Pueblo, CO 81004 (719) 50 -6320 X 6 Name: Carl Bongirno/ Name: Donald E. Staruh