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HomeMy WebLinkAboutC88-109 Estoppel Certificate Baker Exploration Vail Beaver Creek Jet Center.............................. C88- 109 -17 ESTOPPEL CERTIFICATE THIS ESTOPPEL CERTIFICATE (this "Certificate ") is executed as of oe ,Z L , 1988, by the County of Eagle, State of Colorado, a body politic and corporate, acting by and through its Board of County Commissioners ( "County "). RECITALS: A. The County owns, controls and operates the Eagle County Airport ( "Airport ") located between the towns of Eagle and Gypsum in the County of Eagle, State of Colorado. B. The County and Baker Exploration, Inc. ( "Baker ") entered into a certain Airport Facilities Lease ( "Lease ") dated August 14, 1984 for a tract of ground within the boundaries of the Eagle County Airport for the purposes of erecting an airplane hangar ( "Hangar ") thereon. C. Baker has entered into an agreement with Vail Beaver Creek Jet Center, Inc., a Delaware corporation ( "VBC ") whereby the interest of Baker in Lease will be assigned to VBC and the Hangar will be sold to VBC. D. VBC desires that the County consent to the purchase of the Hangar and assignment of the Lease to VBC. E. In order to enable VBC to close the aforesaid transaction, VBC has requested that the County execute and deliver this Estoppel Certificate to VBC. AGREEMENT: NOW, THEREFORE, for good and valuable consideration received by the County, the receipt and sufficiency of which are hereby acknowledged, the County agrees as follows: 1. The County hereby acknowleges that the Lease has not been amended or supplemented. 2. The County hereby acknowledges that the Lease is in full —force and effect and that no event of default, or event which with notice or passage of time would become an event of default, has taken place as of the date of this Certificate. 3. The County hereby consents to the purchase of the Hanger by VBC and the assignment of the Lease to VBC. 4. The County hereby expressly waives any and all provisions contained in Section 28, Paragraph L of the Lease and hereby affirms that the County's consent to the assignment of the Lease fulfills any and all requirements contained in Section 28, Paragraph L of the Lease. Furthermore, the County agrees to a delete from the Lease from and after the date of this Certifi- cate, the provisions of Section 28, Paragraph L of the Lease. IN WITNESS WHEREOF, the County has executed this Certificate on the day and year first written above. ATTEST: By: lerk of the oard df County Commissioners COUNTY OF EAGLE, STATE OF COLORADO By: R Chairman f the 'Board of County Commissioners -2- STATE OF (',O OV-OC(C) SS. COUNTY OF The foregoing instrument was acknowledged before me this --:)q+t,,:day of 1988, by as Chairman of the Board of County Commissioners alhd as Clerk of the Board of County Commissioners. I Witness my hand and official seal. My commission expires: -3- Notary Public