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FIRST AMENDMENT TO AGREEMENT FOR
OPERATION OF RETAIL CONCESSION BETWEEN EAGLE COUNTY AIR
TERMINAL CORPORATION AND CHARLIE'S SHIRTS, INC.
This FIRST AMENDMENT (hereinafter "First Amendment") to the Agreement for
Operation of Retail Concession dated October 31, 2006 between the Eagle County Air Terminal
Corporation, a nonprofit corporation of the State of Colorado ("Corporation") and Charlie's
Shirts Inc., a Colorado corporation d/b/a Charlie's T-Shirts ("Concessionaire") is made and
entered into this _ day of October, 2007.
RECITALS
WHEREAS, the Parties entered into an Agreement for Operation of Retail Concession dated
October 31, 2006 ("Origina.l Agreement"); and
WHEREAS, the term under said Original Agreement expired on April 15, 2007, and
Concessionaire has been operating under amonth-to-month tenancy since that time; and
WHEREAS, the Parties desire to extend the Original Agreement for a period of one (1) year
from the expiration of the original term.
AGREEMENT
THEREFORE, inconsideration of the mutual covenants contained herein and in the Original
Agreement, and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Corporation and Concessionaire agree as follows:
SECTION 3.1 Term shall be deleted in its entirety and replaced with the following effective upon
the execution of this First Amendment:
"Section 3.1 Term. This Agreement shall become effective upon execution and shall expire
on 12:01 a.m. local time on April I5, 2008. Notwithstanding anything else contrary herein,
CORPORATION may terminate this Agreement, with or without cause, upon ninety (90) day
written notice to CONCESSIONAIRE.
Notwithstanding the foregoing, upon the defeasance of the bonds issued by Corporation to
finance acquisition or construction of the Terminal Building and related facilities and services,
following maturity or earlier as provided in the Trust Indenture with respect to any Bonds this
Agreement shall terminate, as of the date of defeasance, and CONCESSIONAIRE shall vacate
the premises leased hereunder within not more than ninety (90) days. CORPORATION will
give not less than thirty (30) and not more than sixty (60) days notice of an intent to defease the
bonds in accordance with the Trust Indenture. CORPORATION also will give
CONCESSIONAIRE notice of the date of defeasance within two (2) business days following the
actual defeasance."
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Corporation and Concessionaire agree that, except as expressly altered, modified and changed in
this First Amendment, all terms and provisions of the Original Agreement shall remain in full
force and effect, and hereby are ratified and confirmed in all respects as of the date hereof.
If any conflict exists between the provisions of this First Amendment and the Original
Agreement, the provisions of this First Amendment shall control.
This First Amendment shall be binding on the parties hereto, their heirs, executors, successors,
and assigns.
IN WITNESS WHEREOF, the parties hereto have executed this FIRST AMENDMENT
effective as of the date first written above.
CORPORATION:
Eagl C my Air T 'nal Corporation
sy:
coni, President
CONCESSIONAIRE:
Charlie's Shi
sy:
teve Ize ,'mss-President
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