HomeMy WebLinkAboutC88-080 County Reimbursement Agreement with Vail Beaver Creek_ C88 -80 -17
COUNTY REIMBURSEMENT AGREEMENT
This Agreement (the "Agreement ") is made and entered into
this day of August, 1988, by and between VAIL BEAVER CREEK
JET CENTER, INC., a Delaware corporation (the "Corporation "), and
THE COUNTY OF EAGLE, STATE OF COLORADO, a body politic and
corporate, acting by and through its Board of County
Commissioners (the "County ") .
W I T N E S S E T H
WHEREAS, on the date hereof, the State of Colorado for the
benefit of and use by the Colorado Department of Military Affairs
and the Colorado Army National Guard (the "Guard "), wishes to
purchase from the Corporation certain buildings and improvements
(the "Improvements ") located on land (Land ") leased by the
Corporation from the County and subleased as of the date hereof
by the Guard at Eagle County Airport, Eagle County, Colorado
(Land and Improvements collectively "Premises "); and
WHEREAS, to fund the purchase of the Improvements, the
County is granting and giving to the Guard Three Hundred Thousand
Dollars ($300,000.00) (the "Grant "); and
WHEREAS, the County is willing to pay the amount of the
Grant provided that it shall be reimbursed if the Guard leaves
and abandons the Land and reconveys the Improvements to the
Corporation within five (5) years of the date hereof or partially -
reimbursed if the Guard leaves and abandons the land and
reconveys the Improvements to the Corporation within ten (10)
years of the date hereof; and
WHEREAS, the Corporation is willing to reimburse the County
�f the Guard leaves and abandons the Land and reconveys the
Improvements to the Corporation within ten (10) year from the
date hereof.
NOW, THEREFORE, the parties hereto do hereby agree as
follows:
1. The County shall grant to the Guard Three Hundred
Thousand Dollars ($300,000.00) so that the Guard may use the
Three Hundred Thousand Dollars ($300,000.00) for the purpose of
purchasing the Improvements;
2. The Corporation agrees that if the Guard shall no
longer have a National Guard unit assigned to the Eagle County
Airport within five (5) years from the date hereof, the Corpora-
tion shall return to the County Three Hundred Thousand Dollars
($300,000.00).
3. The Corporation agrees with the County that should the
Guard no longer have a National Guard Unit assigned to the Eagle
County Airport at any time from and after five (5) years from the
date hereof until ten (10) years from the date hereof, the
Corporation shall return to the County One Hundred Fifty Thousand
Dollars ($150,000.00).
4. If the property is returned to the Corporation, it
shall be subject to the Fixed Base 0 rator ..Concession Agreement
and Lease dated September 24, 1986,a.,aas ..amended
IN WITNESS WHEREOF, the parta.es..heretow. have executed this
agreement as of the date written above..,..
VAIL - =BEAVER CREEK- JET CENTER,
INC.
ATTEST:
By: By;
Title Title i65 ST, 0
county commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By: �P`/ �� erg '4 . J mil"
George . Gates, Chairman
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