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HomeMy WebLinkAboutC08-406..- SECOND AMENDMENT TO THE LEASE AGREEMENT BETWEEN EAGLE COUNTY, COLORADO AND VAIL VALLEY ET CENTER, LLC THIS SECOND AMENDMENT to the Lease Agreement between Eagle County, Colorado and Vail Valley Jet Center, I~C (hereinafter "Second Amendment") is made and entered into this .~ day of ~< <' ~~ ~ ~ ~ , 2008, between Eagle County, Colorado, by and through its Board of County Commissioners (hereinafter "County" or "Lessee") and Vail Valley Jet Center, LLC, a Colorado Limited Liability Company (hereinafter "VVJC" or "Lessor"). RECITALS WHEREAS, Lessor and Lessee have entered into (a) a Lease Agreement dated May 6, 2000 (hereinafter "Original Agreement") for the property described as the 3ra Floor of the Fixed Base Operation (hereinafter "FBO") owned by VVJC and located at the Eagle County Regional Airport in Eagle County, Colorado for use as a Customs Facility and (b) a First Amendment dated July 1, 2003 to the Original Agreement (hereinafter the "First Amendment") (the Original Agreement, as amended by the First Amendment, is hereinafter the "Lease Agreement"). WHEREAS, pursuant to Section 25 of the Lease Agreement, the County and VVJC each have the authority to enter into this Second Amendment. NOW, THEREOFRE, in consideration of the terms and conditions of the Lease Agreement, the sufficiency of which is hereby acknowledged, County and VVJC agree that this Second Amendment shall replace and supersede the sections of the Lease Agreement as stated hereunder. AGREEMENT 1. Section 2, TERM. The text of Section 2 is amended and restated to read in its entirety as follows: "The term of this Lease shall expire on December 31, 2013 unless earlier terminated as set forth herein. 2. Section 3, OPTION TO RENEW. The text of Section 3 is amended and restated to read in its entirety as follows: "At the end of such term as set forth in the Section 2, the Lease shall be automatically renewed for an additional five (5) year term on the same terms and conditions as stated in this lease agreement, provided that either party may terminate this agreement by giving the other party written notice at least one hundred eighty (180) days prior to the end of the initial term." 2. Section 19, TERMINATION. Section 19 is amended and restated to read in its entirety as follows: "It is agreed and understand that either party may terminate this agreement at any time, with cause (which is defined as a material breach of the terms of this Agreement, including a failure to pay, if such material breach remains uncured for sixty (60) days (ten (10) days in the case of a failure to pay) after written notice to the breaching party from the non-breaching party setting forth such breach in reasonable detail). Upon such termination each party shall be relieved of any obligations under this Agreement, other than any obligation to pay an amount then due under this Agreement." 3. County and VVJC agree that, except as expressly altered, modified and changed in this Second Amendment, all terms and provisions of the Lease Agreement shall remain in full force and effect, and hereby are ratified and confirmed in all respects as of the date hereof. 4. If any conflict exists between the provisions of this Second Amendment and the Lease Agreement, the provisions of this Second Amendment shall control. 5. This Second Amendment shall be binding on the parties hereto, their heirs, executors, successors and assigns. IN WITNESS WHEREOF, the parties have executed this Second Amendment on the date and year first above written. ATTEST: - LESSEE: u4'~~.~~-~`, COUNTY OF EAGLE, STATE OF COLORADO . ~ _._ r . ~ -,~-~? _., By and Through its Board of County .„ 1 ' 'y Commissioners Clerk tot ' ~ ''~f County Commissioners r` By: r Name: Saga '~~ S~.tP Title: C~na~ Qanow ~20 =["•c+~P LESSOR: VAIL VALLEY JET CENTER, LLC By: Name: Title: Bryan;contracts;secondamdmenttoleaseagreement ec 12 08 01:05p Jim & Barbie Affen usL. i[. dUVO il;'tyHlN 7502972194 LESSOR: VAIL VALLEY JET CENTER, LLC p.1 Vo.283c P. 2 gy; - ~ Name: ~ ~, ~, ~ i ~. ~,.._ Title: c w. = D Aryan;wntr.etc:4erw~,aamameut~oteWCa~[aamrnc