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Home My WebLink AboutC12-266 Clair/Rosenquist Airport Hanger Lease Assignment r ASSIGNMENT OF AIRPORT HANGAR LEASE THIS ASSIGNMENT OF AIRPORT FACILITIES LEASE is executed and delivered as of the [ day of ,1 2012 between Airplane Hangar, LLC, a Colorado limited liability company ( "Assignor ") an Redbird Aircraft, Inc., a Florida Corporation ( "Assignee "). RECITALS A. On October 7, 1980, Eagle County, acting through its Board of County Commissioners, entered into a lease agreement with SBS Partnership with respect to property located at the Eagle County regional airport for the purpose of Lessee erecting a hangar thereupon (the "Airport Hangar Lease "). B. On August 20, 1997, Eagle County consented to an assignment of the Airport Hangar Lease to Tom Harned, Kevin Clair and Charles H. Rosenquist, who assumed jointly and severally all of the obligations under the Airport Hangar Lease. C. On September 29, 2004, Tom Harped sold his interest in the airplane hangar (legally described as: Hangar at Eagle County Airport, BK -0568, PG -0071, BOS 11- 20 -91) (hereinafter, the "Hangar") located on the leased property to Kevin Clair. The assignment was not officially approved by Eagle County at that time. D. On March 16, 2010, Margret R. Rosenquist, as personal representative of the Estate of Charles H. Rosenquist, assigned the Rosenquist interest in the Airport Hangar Lease to Airplane Hangar, LLC, a Colorado limited liability company. E. Airplane Hangar, LLC, desires to assign all of its rights and interests in the Airport Hangar Lease. to Redbird Aircraft, Inc. NOW, THEREFORE, Assignor does hereby ASSIGN, TRANSFER, SET OVER AND DELIVER unto Assignee the Airport Hangar Lease, together with all of Airplane Hangar, LLC's rights, title, and interests in and to the Airport Hangar Lease and premises, subject to all the conditions and terms contained in the Airport Hangar Lease and all amendments thereto. Assignee agrees to pay all rent due after the effective date of this assignment, and to assume and perform all duties and obligations required by the terms of the Airport Hangar Lease. // SIGNATURE PAGE TO FOLLOW // • pia —a-��e IN WITNESS WHEREOF, Assignee and Assignor have caused this Assignment of Airport Hangar Lease to be executed as of the day and year first above written. ASSIGNOR: AIRPLANE HANGAR, LLC a Colorado limited liability company By: THE CHARLES & MARGARET ROSENQUIST FAMILY REVOCABLE TRUST, UAD 1/18/02, NOW KNOWN AS THE ROSENQUIST ADMINISTRATIVE TRUST UAD 1/18/02 its Managing Member BY: /7 a �� F�cQGt�Gd7 Ma :itifet R. Rosenquist, Trustee ASSIGNEE: REDBIRD AIRCRAFT, INC., a Florida Corporation By Gene La am Title: CONSENT TO ASSIGNMENT BY LESSOR The Board of County Commissioners of Eagle County, Colorado, Lessor in the above Assignment, hereby consents to this assignment effective this ? I day of 31.41-. , 2012. COUNTY OF EAGLE, STATE OF COLORADO _ By and Through its Board of County Commissioner ATTEST: of �4714 Peter F. Runyon, Chairman � a .. . 0 " . t e : o. , o1 o ty C; � ., ' ers 07 Dk.AN r4- AGREEMENT FOR SALE OF 50% INTEREST IN AIRPLANE HANGAR AND LEASE This Agreement is effective as of . 12 . a l 4/ J - ,20 , by and between Airplane Hangar, LLC ( "LLC ") and Arthur Gene Lanham and A44r�•o Lanham, husband and wife ( "Lanham "). A. Airplane Hangar, LLC owns a 50% interest in: 1. that certain airplane hangar described as: Steel- frame /steel -skin aircraft hangar, 60' x 86' in dimensions with two 60' x 19' bi -fold electric doors, located as the easternmost building on the ramp /hangar area of the Eagle County Airport (known as SBS Partnership Hangar) 2. leasehold interest in that certain lease with Eagle County, CO. B. As acknowledged in a previous Agreement dated May 20, 2011, despite the legal ownership set forth in A above, the parties acknowledge that Arthur Gene Lanham has a 50% equitable interest in the LLC's 50% interest in the hangar and leasehold interest. C. By Agreement dated May 20, 2011, Arthur Gene Lanham and LLC have agreed to market and sell the 50% interest described in Paragraph A above and to split the proceeds of sale. D. The parties wish to modify the previous Agreement to provide that Airplane Hangar, LLC shall sell to Arthur Gene Lanham and Arthur Gene Lanham shall buy from LLC the LLC's 50% equitable interest in the 50% interest in the hangar and lease described in A above. E. The parties desire that, by reason of this sale, Arthur Gene Lanham shall own a 50% interest (both legal and equitable) in the hangar and lease described in Paragraph A 1 and 2 above. NOW, THEREFORE, the parties agree that LLC shall sell to Arthur Gene Lanham its 50% equitable interest in the 50% interest in the hangar and ground lease under the terms set forth below: 1. Lanham shall P a Y equitable $12,500.00 for LLC's 50% e uitable interest. 2. Lanham shall indemnify and hold LLC (and its owners) harmless from any and all liability arising after the date of this Agreement with respect to the hangar and lease described in Paragraph A above. 3. Lanham shall effect a name change on the hangar and lease such that Airplane Hangar, LLC (and its owners) shall have no further ownership (legal or equitable) in either asset; LLC shall cooperate with Lanham in the execution of any and all documents required to effect the name change. 4. Lanham shall indemnify and hold LLC (and its owners) harmless from any and all legal costs and expenses that LLC (or its owners) may incur in defending litigation or threats of litigation or claims of any kind or nature arising after the date of this Agreement. DATED: / / AIRPLANE HANGAR, LLC A Colorado Limited Liability Company By: Rosenquist Family Revocable Trust (now known as the Rosenquist Administrative Trust)/Margaret R. Rosenquist Survivor's Trust //C'cLt a/1C 7 // // 1'�/irauvo ` `Arthur`Gene Lanham MargafFt Rosenquist, Trustee STATE OF COLORADO ) ) ss. County of'r4 =- _ } The foregoing instrument was acknowledged before me this 2-\ day of , 2012, by Arthur Gene Lanham and ®._ - -- Lanham. Notary Public My Commission Expires: BILL OF SALE Airport Hangar,LLC in the county of Eagle, State of Colorado, in consideration of the sum of Twelve Thousand Five Hundred Dollars ($12,500) to be paid by Arthur Lanham, the receipt of which I hereby acknowledge, do hereby grant, sell, transfer and deliver unto REDBIRD INC, all my ownership interest in the eastern half of an aircraft hangar located at Eagle County Airport block 0568 page 0071 DOS Nov.20, 1991 and the Eagle County land Lease commencing October 7, 1980 and extending until October 31, 2020. I hereby covenant with the guarantee that I am the lawful owner of said property, and that it is free from all encumbrances. IN witness thereof, I hereunto set my hand this a day of June, 2012. f , 7:1 ' ii ` . t � �'�!?U, � a . �. c e, "---04,-,::,. `�' s� i /tr.-I!, 1 � te f!' /..G �` .? �, ,F' Er . ` G4 6r ' �` r n; ,-P. d, F t State of Colorado ) ss County of Eagle ) Subscribed and sworn before me on this " (3 day of Tune, 2012 by Margaret R Rosenc{uist Witness my hand and official seal. My commission expires C\ l C "'! i2_01 Notary Public TINA VIUL NOTARY PUBLIC STATE OF COLORADO 4 -6 -,.-� 9 -a).1 s My Commission Expires 09/21/2014 1 . • STATE OF COLORADO ) ) ss. County of t(L, The foregoing instrument was acknowledged before me this / day of ( , 20-11, by Margaret R. Rosenquist. 7 /1 / / Notary Public 1 My commission Expires: CAL t 2,o 04 ,g .1? NOTARY PUBLIC My STA°1 OF COLORADO CommiEsion Expires 09/21/2014