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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