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HomeMy WebLinkAboutC13-106 Bill Duddy and Gene Lanham First Amendment to Airport Facilities LeaseFIRST AMENDMENT TO AIRPORT FACILITIES LEASE THIS FIRST AMENDMENT ( "Amendment ") is made and entered into this of , 2013, between the Board of County Commissioners, County of Eagle, State of Color do, he ereinafter referred to as "Lessor" and Bill Duddy and Gene Lanham, hereinafter referred to as "Lessee." WHEREAS, Lessor and Lessee entered into an Airport Facilities Lease on October 12, 1988 ( "Original Agreement'); and WHEREAS, Section Five of the Original Agreement contained a typographical error, making the termination date for the initial term October 1, 2112, rather than the intended termination date of October 1, 2012; and WHEREAS, the Original Agreement provides for the right to renew the Original Agreement for an additional term of five years under the same terms and conditions subject to the same rentals, fees, and charges as provided in the Original Agreement for the initial term; and WHEREAS, Lessor and Lessee wish to correct the above referenced typographical error to reflect the actual twenty five (25) year initial term and Lessee wishes to exercise its option to renew the Original Agreement for an additional five year term ( "Five Year Option Term "); and WHEREAS, Lessee has indicated that it is interested in selling its interest in the hangar located in the leased premises and Lessor has indicated that it is committed to negotiate in good faith with any new owner for a new lease period at the time of sale or at the end of the Five Year Option Term. NOW, THEREFORE, Lessor and Lessee agree that the Original Agreement is hereby amended as provided herein: 1. The first sentence in Section Five, Term, shall be deleted in its entirety and replaced with the following language: Subject to earlier termination as hereinafter provided, the initial term of this agreement shall be the period commencing on the 1 St day of October, 1987, and ending on the 1 St day of October, 2012, subject, however, to the one option hereby granted by Lessor to Lessee to renew this agreement for an additional term of five years under the same terms and conditions and subject to the same rentals, fees, and charges as provided herein for the initial term. 2. Lessee shall be deemed to have exercised its right to renew for the Five Year Option Term. The first day of the Five Year Option Term shall be the 1 st day of October, 2012 and the last day of the term shall be the 30 day of September, 2017. 0 l3 10G rF 3. All other terms and provisions of the Original Agreement shall remain in full force and effect. 4. This Amendment shall be binding on the parties hereto, their heirs, executors, successors, and assigns. // REMAINDER OF PAGE INTENTIONALLY LEFT BLANK // r IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to Agreement the day and year first above written. COUNTY OF EAGLE, STATE OF COLORADO By and h its Board unty issioners ATTEST: 4 S Jo Sta ey, Chairman W � N � • C � Teak Simonton, CMerk to the Bo LESSEE: B Bill Duddy STATE OF C�l r ��► / ) ss. COUNTY OF CSC ) The foregoing instrument was acknowledged before me by Bill Duddy this day of .2013. NANCY L WESTSY My commission expires: � Notary Public. State of Florida IVA My Comm. Expires Oct. 22.2015 Commission No. EE 128372 Notary P#6iic — Gene Lanham STATE OF ) ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me by Gene Lanham this day of ' 2013. My commission expires: Notary Public I 0 IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to Agreement the day and year first above written. COUNTY OF EAGLE, STATE OF COLORADO By, ATTEST: L Teak Simonton, Clerk to the Board LESSEE: LM Bill Duddy STATE OF ) ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me by Bill Duddy this day of 2013. My commission expires: Notary Public