HomeMy WebLinkAbout5429RESOLTUION NO. 5429
A RESOLUTION REPEALING RESOLUTION NO. 5406,
INTRODUCED JUNE 25, 1984, AND APPROVING A
LEASE ADDENDUM DATED JULY 16, 1984, BETWEEN
PUEBLO, A MUNICIPAL CORPORATION AND FLOWER
AVIATION OF COLORADO, INC. AND AUTHORIZING
THE PRESIDENT OF THE CITY COUNCIL TO
EXECUTE SAME
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, COLORADO,
that:
SECTION 1.
The Lease Addendum dated July 16, 1984, a copy of which
is attached hereto and made a part hereof by reference, by and
between pueblo, a municipal corporation, and Flower Aviation of
Colorado, Inc. relating to the lease of Additional Property,
having been approved as to form by the City Attorney, is hereby
approved.
SECTION 2.
The President of the City Council is hereby authorized
to execute the Lease Addendum for and on behalf of Pueblo, a
Municipal Corporation, and the City Clerk is directed to affix
the seal of the City thereto and attest same.
SECTION 3.
All net proceeds derived from the Lease Addendum will
be used for the operation, maintenance and improvement of the
Pueblo Memorial Airport.
SECTION 4.
Resolution No. 5406 is hereby repealed.
ATTEST:
�
ity Clerk
INTRODUCED July 23 , 1984
By PAUL JONES
Councilman
7
APPROVED:.
of'' tlie City Council
LEASE ADDENDUM
THIS LEASE ADDENDUM entered into the 16th day of July, 1984
by and between PUEBLO, A MUNICIPAL CORPORATION (herein "City ") and
FLOWER AVIATION OF COLORADO, INC., .a Colorado corporation (Herein
"Lessee "),
WITNESSETH:
WHEREAS, City and Lessee entered into a Pueblo Memorial Airport
Operating Agreement and Land Lease dated September 12, 1983 for
Property therein described (herein "Lease of September 12, 1983 "),
and
WHEREAS, the term of the Lease of September 12, 1983 is twenty
(20) years from April 1, 1984 to March 31, 2006, and
WHEREAS, Lessee desires that Additional Property be included
within the property described in the Lease of September 12, 1983
and the term of the Lease of September 12, 1983 for the additional
property commence July 1, 1984;
NOW, THEREFORE, in consideration of the foregoing and mutual
promises herein contained City and Lessee agree as follows:
1. City does hereby lease to Lessee and Lessee does hereby
lease from City the land located at Pueblo Memorial Airport,
Pueblo County, Colorado described in Exhibit "A" attached hereto
and incorporated herein as if set out herein in full (herein
"Additional Property ") for the purposes and upon the terms and
provisions set forth herein and in the Lease of September 12,
1983 for a term of twenty -one (21) years and nine (9) months
from July 1, 1984 to March 21, 2006.
2. Lessee shall make all payments required of the Lessee
and perform all convenants and agreements on the part of the Lessee
to be performed hereunder and under the Lease of September 12, 1983
the same as if (a) the Additional Property were included in the
description of the Property leased under the Lease of September 12,
1983 at the time of its execution, (b) as to the Additional Property,
the term of the Lease of September 12, 1983 commenced July 1, 1984.
All the covenants and provisions of the Lease of September 12, 1983
are specifically referred to, incorporated herein, and set out here-
in in full.
3. For the purposes of paragraph 2(a) and (d) of the Lease
of September 12, 1983, City and Lessee agree that the Additional
Property contains 0.801 acres more or less and that the additional
annual rent and service fee to be paid by Lessee for the period
from July 1, 1984 to April 1, 1991 is $192.24 and $160.20 respectively,
per year and the parties agree that the annual rent and service fee
may be modified thereafter as provided in the Lease of September 12,
1983.
4. Lessee shall, on or before January 1, 1984, construct
upon the Additional Property a maintenance and hangar building
for aircraft having a minimum of 10,000 square feet of net usable
floor area in compliance and accordance with City's Building Codes
and plans and specifications approved by City prior to construction.
The building shall be inspected by City prior to occupancy thereof.
Failure to timely construct said building shall constitute grounds
to terminate this Lease Addendum by City upon twenty (20) days
prior written notice to Lessee. The timely construction of the build-
ing herein described shall not release or discharge Lessee from its
obligation to construct another building upon the Property described
in the Lease of September 12, 1983 as required by paragraph 3
thereof.
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5. Subject to the provisions of this paragraph 5, City does
hereby consent to Lessee assigning its leasehold estate in the
Additional Property created hereby to Central Bank of Pueblo
(herein "Bank ") as collateral security for the repayment of a loan
from Bank to Lessee for the sole purpose of financing the construction
of the building described in paragraph 4 hereof (herein "Loan ").
City does further consent to Lessee mortgaging or otherwise encumber-
ing its interest in this Lease Addendum and Lessee's leasehold
estate hereby created (herein "Leasehold Estate ") to Bank as security
for the Loan, provided that City's interest in and title to the
Additional Property shall not become subordinate or subject to any
such mortgage or encumbrance. In the event Lessee so mortgages or
encumbers the Leasehold Estate, City agrees that upon default by
Lessee under the terms of the mortgage or other instrument of en-
cumbrance (herein "Security Instrument "), Bank may cause said
Security Instrument to be foreclosed in any lawful manner and acquire
Lessee's title and interest in the Leasehold Estate. Bank may
assign Lessee's rights therein or sublet the Additional Property
to a tenant approved in writing by the City pending foreclosure and
acquisition of the Leasehold Estate, and thereafter Bank may assign
the Leasehold Estate, as a whole, to an assignee or sublessee
approved in writing by City, which approval will not be unreasonably
withheld, but no other or additional assignment or sublease shall
be made without the prior written consent of the City. Bank and
any assignee or tenant of Bank pending foreclosure and acquisition
of the Leasehold Estate, approved as aforesaid, shall be liable to
perform all obligations imposed upon Lessee under this Lease Addendum
and the Lease of September 12, 1983 only during the period Bank, or
such assignee or tenant has possession of the Leasehold Estate.
Bank and any assignee or tenant of Bank after foreclosure and
acquisition of Lessee's Leasehold Estate under the Security Instru-
ment shall be liable during the term of the Lease of September 12,
1983 as modified by this Lease Addendum (from July 1, 1984 to March
31, 2006) to perform all of Lessee's obligations thereunder unless
excused therefrom by City in writing. For purposes of this para-
graph, "Bank" means and includes Central Bank of Pueblo and any
subsequent holder of the Loan.
6. City does hereby waive its right granted by paragraph 20
of the Lease of September 12, 1933 to terminate this Lease Addendum
and the Lease of September 12, 1983 as to the Additional Property.
7. Except as specifically otherwise provided herein, Lessee
shall not, in whole or in part, assign this Lease Addendum or sublet
the Additional Property without the prior written consent of City.
8. This Lease Addendum incorporates the entire understanding
between the City and Lessee and no change, modification or amend-
ment hereto shall be binding upon the City unless embodied in a
written agreement and approved by resolution or ordinance of the
City Council of City.
9. This Lease Addendum shall be governed and construed
according to the laws of the State of Colorado and shall be binding
upon and inure to the benefit of the successors and assigns of the
City and Lessee.
Signed the day and year first above written.
PUEBLO, A MUNICIPAL CORPORATION
B
(S E A L) President of the City Council
Attest:
City Clerk
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Approved as to Form:
City Attorney
(S E A L)
Attest:
Secretary
FLOWER AVIATION OF COLORADO, INC.
By A2,1,- L, -,!2 g'
President
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July 11, 1984
PUEBLO MEMORIAL AIRPORT
FLOWER AVIATION - PROPOSED LEASE NO. 2
(Book C -8, Page 49)
A parcel of land located in the SE 1/4 of the NE 1/4 of Section 25,
T -20-S, R -64 -w, and in the SW 1/4 of the NW 1/4 of Section 30, T -20 -S,
R -63-W of the 6th P.M., more particularly described as follows:
Beginning at the W 1/4 corner of Section 30, T -20 -S, R -64-W; thence
N 00 0 -08'-40" W and along the west line of said Section 30, a distance
of 381.54 ft.; thence S 83 ° - 18' -05" W, a distance of 225.00 ft.; thence
N 01 0 -41'-55" W, a distance of 508.66 ft.; thence N 88 ° -18'-05" E, a
distance of 40.00 ft. to the true point of beginning; thence continu-
ing N 88 ° - 18' -05" E, a distance of 160.00 ft.; thence S O1 41' -55" E,
a distance of 183.00 ft.; thence N 88 ° - 18' -05" E, a distance of 214.00
ft.; thence S 01 ° - 41' -55" E, a distance of 15.00 ft.; thence S 88 18' -05" W,
a distance of 374.00 ft.; thence N 01 ° - 41' -55" W, a distance of 198.00
ft. to the true point of beginning. Said parcel of land contains .801
acres more or less.
EXHIBIT A
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