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HomeMy WebLinkAboutC87-041 Supplemental Agreement re: offsetting payments - Howard Aira. m
C87-41-17
SUPPLEMENTAL AGREEMENT
Regarding Offsetting Payments
This agreement made the 16th day of UA&r=, 1987.
This agreement is to supplement - and during the period it is
in force, be considered a part of - the agreements between
Howard Air Service, Inc. (hereinafter "Howard"), and the
County of Eagle, State of Colorado, acting by and through its
Board of County Commissioners (hereinafter "the County"),
dated August 1, 1986, and entitled"Fixed Base Operator
Concession Agreement and Lease," and the agreement dated March
=-�=AN%r-y= 16th, 1987, entitled "Public Terminal Lease
Agreement."
In consideration of mutual covenants contained herein,
the parties agree as follows:
1. The term of this agreement shall be the same as the
"Public Terminal Lease Agreement."
2. The parties agree that all payments to be made to
the County pursuant to the terms of the "Fixed Base Operator
Concession Agreement and Lease," or pursuant to the management
portion of the "Public Terminal Lease Agreement," shall be
paid on a quarterly basis, with the quarters being January
through March, April through June, July through September, and
October through December. These quarterly payments shall be
due on or before the 15th day of the first month following the
end of the quarter. Howard shall be allowed to deduct from
its payments all payments due and owing from the County during
the same quarter, pursuant to the "Public Terminal Lease
Agreement." In the event the amount owed by the County
exceeds the amount owed by Howard, Howard shall bill the
County for the difference, by the 15th day of the first month
following the end of the quarter and the County shall pay the
amount billed within 30 days.
It is the intent of the parties that by virtue of the
provision hereinabove, during the term of this agreement funds
shall be paid quarterly instead of monthly as provided in the
agreement referred to hereinabove. And that the obligations
of the parties shall be offset against each other, the smaller
obligation being offset against the larger, and the difference
paid to whom due as provided herein.
3. However, monthly reports required of Howard by the
Fixed Base Operation shall still be made as required by that
agreement, even though no payment need be made at that time.
4. Howard shall also prepare quarterly statements which
shall accompany any payment or bill as the case may be,
setting forth an accounting of the offsetting obligations.
5. This agreement shall be modified only by written
agreement of the parties.
6. This agreement is not assignable except with the
prior written approval of the parties.
7. NOTICES: Any notice hereunder shall be sufficient
if sent by registered or certified mail addressed to the
County at P.O. Box 850, Eagle, Colorado, 81631; or to Howard
at the Address contained herein.
8. DISAGREEMENTS: Shall there arise during the course
of the term of this Agreement any disagreement about the lease
or the conduct of the parties in relation thereto, the aggrieved
party shall give notice to the other party of a meeting to be
held at the offices of the County or other mutually agreed
place, not less than three nor more than ten days from the
date of said notice, so that the parties may attempt to
resolve their differences prior to any other action.
9. LAW: This Agreement shall be governed by the law of
the State of Colorado.
IN WITNESS WHEREOF the parties hereto have caused this
Agreement to be executed by their proper officers acting with
full authority of the respective parties, this 16th day of
�_- March, 1987.
ATTEST:
S-cre ary
EAL)
HOWARD AIR SERVICES, INC.
By `f r,
Presi
COUNTY OF EAGLE, STATE OF
COLORADO,-
OLORADO, By and Through Its
ATTEST: BOARD CO,NTY COMMISSIONERS
By: By
Clcp of the Board of
County Commissioners
-3-
f soli;`