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HomeMy WebLinkAboutC16-023 The Hertz Corporation11 S t LEASE This Lease Agreement kreinafter referred to as "Lease" and/or "Agreement ") is made and entered into this C1 day of w,4c , 2016 between Eagle County, State of Colorado, a body corporate and politic, organized and existing pursuant to the laws of the State of Colorado (hereinafter referred to as "Landlord ") and The Hertz Corporation, a Delaware corporation (hereinafter referred to as "Tenant "). WITNESSETH: WHEREAS, the Landlord owns and operates the Eagle County Regional Airport, (hereinafter referred to as "Airport") located in the County of Eagle, State of Colorado; and WHEREAS, the Tenant desires to lease and use a portion of certain land for new rental motor- vehicle deliveries and the parking and storing of overflow rental motor vehicles; and WHEREAS, the Landlord desires to lease to Tenant a portion of the land and grant to Tenant the exclusive right to use a portion of the land as more fully described herein. NOW, THEREFORE, for and in consideration of the rents or sums of money to be paid as set forth herein and the covenants upon the part of the Tenant to be kept and performed as hereinafter expressed, the parties agree as follows: 1. Rental Space. Landlord hereby demises and leases exclusively unto Tenant, a portion of that certain parcel of land lying and being situated in Eagle County, Colorado and being more particularly described in Exhibit "A" attached hereto and incorporated herein by reference (hereinafter referred to as the "Leased Premises/Rental Space" or separately "Leased Premises" or "Rental Space "). The Rental Space is approximately 65,340 square feet, more or less, of land located at the Eagle County Regional Airport as highlighted in Exhibit "A." 2. Rent. The rental fee for the Initial Lease Term (hereinafter defined) shall be $0.19 per square foot (annual rate of $12,414.60, monthly rate of $1,034.55, and daily rate of $33.92). Therefore, rent for the Initial Lease Term shall be $5,664.64 ($33.92 x 167 days). One half of the rent shall be payable on or before December 31, 2015, the second half of the rent shall be payable on or before January 31, 2016. Initial Lease Term. The Initial Lease Term is as follows: a. The Lease hereby granted shall become effective November 1, 2015 and shall continue in effect up to and including April 15, 2016 (hereinafter referred to as "Initial Lease Term "). C16-023 4,P OV. S TO BY : torr�ey °s Uftis� g Eag ie oi3 C:.:)mmissioners' Office s,�fat� b. Notwithstanding anything contained herein to the contrary, either party may terminate this Lease at any time during the Initial Lease Term or during any extension by sending the other party thirty (30) days prior written notice of its intent to terminate. In the event of such early termination, Tenant shall be responsible for rent for such time it actually occupied the premises. Should Landlord terminate the Lease early in accordance with this Section 3 prepaid rent shall be refunded to Tenant on a prorated basis. 4. Use of Premises. The Rental Space may be used for the parking and storing of new and overflow rental motor vehicles and for no other purposes. If the aforesaid use by the Tenant is ever prohibited or substantially impaired by law or by restriction by Landlord or other instruments of record, Tenant shall have the immediate right to terminate this Lease. (a) Possession and Use. The Landlord shall give possession of the Leased Premises/Rental Space to the Tenant for the Initial Lease Term. The Tenant shall take possession of and use the Leased Premises /Rental Space for the purposes stated above. Tenant shall comply with all laws and ordinances and regulations as may be amended from time to time and as applicable to its use of the Leased Premises /Rental Space. Tenant shall have reasonable ingress and egress to the Leased Premises /Rental Space as depicted on Exhibit "A" attached hereto. 5. Condition of Premises. Tenant stipulates that it has examined the Leased Premises/Rental Space including the grounds and that they are at the time of entering into this Lease in good order and repair and in safe and clean condition. Furthermore, Tenant shall maintain the Leased Premises /Rental Space in good condition and in all respects satisfactory to Landlord during the continuance of this Lease. 6. Subletting. Tenant shall not assign or sublet the Leased Premises /Rental Space in whole or in part or grant any concession or license to the Leased Premises/Rental Space. An assignment, subletting, concession or license or assignment or subletting by operation of law, shall be void and shall at Landlord's option terminate this Agreement. 7. Real Estate Taxes. The Tenant shall pay all real estate taxes and assessments on the Leased Premises /Rental Space during the Initial Lease Term and during any extension thereof. 8. Quiet Enjoyment. The Landlord has the right to enter into this Lease. If the Tenant complies with this Lease, the Landlord must provide the Tenant with undisturbed possession of the Leased Premises/Rental Space subject to the terms and conditions of this Agreement. 9. Alterations. The Tenant may not make any changes or additions to the Leased Premises/Rental Space without the Landlord's written consent which Landlord may withhold in its sole discretion. Any changes or additions made without the 2 Landlord's written consent shall be promptly removed and the Leased Premises shall be restored by Tenant. 10. Tenant's Obligations. Tenant shall: (a) Keep the Leased Premises/Rental Space in clean and sanitary condition, including snow removal; and (b) Properly dispose of rubbish, garbage and waste in a clean and sanitary manner and at reasonable and regular intervals; and (c) Not intentionally or negligently destroy, deface, damage, impair or remove any part of the Leased Premises /Rental Space, its appurtenances, facilities, equipment, nor to permit any invitees, licensees, or other persons acting under Tenant's control to do so; and (d) Not permit a nuisance or commit waste; and (e) Make all repairs to the Leased Premises/Rental Space which are not the responsibility of the Landlord; and (f) Not keep or have on the Leased Premises /Rental Space any article or thing of a dangerous, flammable or explosive character that might increase the chance of eruption of fire on the Rental Space or ordinarily would be considered hazardous or extra hazardous by any reasonable insurance company. (g) Not conduct any fueling or vehicle maintenance operations on the Leased Premises /Rental Space. 11. Suns. The Tenant may place a sign at the entrance or about the Leased Premises/Rental Space so long as it conforms to the applicable municipal and county ordinances and regulations and state and federal law. 12. Access to Rental Space. The Landlord shall have access to the Rental Space at reasonable times upon notice to the Tenant to: insurers. (a) Inspect the Rental Space; (b) Make necessary repairs, alterations or improvements; (c) Supply services; and (d) Show it to prospective buyers, mortgagees, lenders, contractors or 13. Fire and Other Casualty. Either party may cancel this Lease if the Leased Premises /Rental Space is materially damaged by fire or other casualty. 14. Insurance. Tenant shall obtain and maintain in effect during the Initial Lease Term and any extension, either through self - insurance or through an insurance carrier with an "A.M. Best" rating of not less than A -VII and duly authorized and licensed to do business in Colorado, the following: Auto coverage with limits of liability not less than $1,000,000 each accident combined bodily injury and property damage liability insurance, including coverage for owned, hired, and non -owned vehicles. ii. Commercial General Liability coverage for claims relating to personal and bodily injury, premises and operations, personal /advertising injury, products /completed operations, broad form property damage with limits of liability not less than $1,000,000 per occurrence and $2,000,000 aggregate limits. iii. At its expense, Tenant shall maintain insurance on all inventory, vehicles, or other personal property stored or used on the Leased Premises /Rental Space from and against loss of damage by vandalism, malicious mischief, fire, snow, hail, or other damage caused by acts of god or third parties. The Parties agree that Landlord shall not be responsible for and Tenant hereby waives and releases Landlord from any and all claims or damage caused by third parties or acts of god. A certificate of insurance evidencing the coverage to be maintained hereunder by the Tenant shall be delivered to the Landlord at the time this Lease is executed. Such liability insurance shall name the Landlord as an additional insured. Failure to obtain and /or maintain such insurance shall be a default under the terms of this Lease. 15. Indemnification. Tenant shall indemnify and hold harmless the Landlord, its Board of County Commissioners and the Eagle County Air Terminal Corporation and the individual members thereof, their commissioners, agencies, departments, officers, agents, employees, servants or successors from any and all fines, demands, losses, liabilities, claims, damages and judgments including attorney's fees, together with all costs and expenses incident thereto which may accrue against, be charged to, or be recoverable from the Landlord, its Board of County Commissioners, the Eagle County Air Terminal Corporation and their individual members, their commissioners, agencies, departments, officers, agents, employees or servants and successors as a result of the negligent acts, errors, or omissions of Tenant, its employees or agents in connection with Tenant's use and occupancy of the Leased Premises /Rental Space except to the extent such injury or damage results from the negligent acts of the Landlord. Additionally, the parties mutually agree that no Commissioner or officer or employee of the Landlord nor any officer, manager, member, agent or employee of the rd Tenant shall be held personally liable under this Agreement or because of its enforcement or attempted enforcement. The parties further agree that this clause shall not waive the benefits or provisions of Colorado Revised Statutes 24 -10 -101 et. seq. or any similar provision of law. This paragraph shall survive expiration or termination hereof. 16. Environmental. Tenant agrees to indemnify, defend, protect and hold Landlord harmless from any liability incurred by Landlord occurring by reason of the existence of hazardous substances on the Leased Premises /Rental Space arising out of the acts of Tenant, its employees, customers, agents, or licensees. Hazardous substances shall mean those materials defined as hazardous materials, hazardous waste or hazardous substances under CERCLA P.L. 96 -510, as amended, or any other local, state or federal law. 17. Surrender of the Premises. At the expiration of the term of the Lease as the same may be extended, Tenant will quit and surrender the Leased Premises/Rental Space to Landlord. In the event that the Tenant fails to surrender the Leased Premises/Rental Space and remains in possession of the Leased Premises/Rental Space without the permission of Landlord or without a valid extension as provided herein, Tenant shall pay Landlord a flat rate rent of $16,993.92 per month and such continued occupancy shall be considered a month -to -month tenancy. 18. Requirements Upon Termination of Lease. Upon termination of the Lease, the Tenant shall clean the Leased Premises /Rental Space and return the same to Landlord in its initial condition, except for reasonable wear and tear. 19. Default. In the event Tenant fails to timely pay amounts due hereunder, Landlord shall deliver to Tenant written notice detailing Tenant's failure to pay. Tenant shall have ten (10) business days from the date of such notice to make payment in full to Landlord. In the event Tenant fails to perform or breaches any other term of this Lease (for a reason other than non - payment), Landlord shall deliver to Tenant written notice detailing Tenant's failure to perform or breach hereof and Tenant shall have thirty (30) days to cure such default. If at the expiration of the applicable cure period set forth in this paragraph 19, Tenant has failed to fully cure its non - payment or other default, this Lease may be forthwith terminated at the election of the Landlord and the Tenant will surrender and deliver up possession of the Leased Premises /Rental Space to the Landlord within three business days of receiving written notice from the Landlord stating the breach of the conditions of this Lease. In the event that it shall become necessary for the Landlord to employ an attorney to enforce any of the provisions hereof, or to enforce the collection of any amounts due under the terms of this Lease, Landlord shall be entitled to recover all costs, including reasonable attorney's fees. Such costs shall be required to be paid to cure any outstanding default. 20. Notices. Any notices provided for herein shall be in writing and shall be delivered in person or mailed by certified or registered mail, return receipt requested, postage prepaid, to the party for whom intended at the address set forth below. The Hertz Corporation 8501 Williams Road Estero, FL 33928 Attention: Vice President, Real Estate and Concessions County of Eagle, State of Colorado Attention: Aviation Director P.O. Box 850 Eagle, CO 81631 With a copy to: Eagle County Attorney P.O. Box 850 500 Broadway Eagle, Colorado 81631 Either party may change its address by written notice to the other party. Notices are deemed to have been given effective as of the date of delivery if personally delivered, and as of the third day after mailing, if mailed. 21. Duty to Obtain Required Permits. Tenant shall at its sole expense, obtain and maintain in good standing all proper and necessary permits and licenses necessary to carry out and perform its obligations under this Agreement. 22. No Private Cause of Action. The rights herein contracted for shall inure solely for the benefit of the parties to this Agreement, and nothing herein shall be construed to grant a cause of action to non - parties claiming as third party beneficiaries or otherwise. 23. No Waiver. The failure of the Landlord to insist in any one or more instances upon a strict compliance with any of the obligations, covenants and agreements herein contained, or the failure of the Landlord on any one or more instances to exercising the option, privilege or right herein contained shall in no way be construed to constitute a waiver or relinquishment or release of such obligation, covenant or agreement and no forbearance by the Landlord or any default hereunder shall in any manner be construed as constituting a waiver of such default by the Landlord. 24. Amendments. All amendments to this Agreement must be made in writing by mutual agreement of the parties and no oral amendments shall be of any force or effect whatsoever. 25. Entire Agreement. This Agreement supercedes all previous communications, negotiations and /or contracts pertaining to the respective parties hereto, if any, either verbal or written and the same not contained herein are hereby withdrawn and annulled. 0 r 26. Governing Law. The laws of the State of Colorado shall be controlling and any action between the parties hereunder shall be brought in the County of Eagle, State of Colorado. 27. Binding Effect. The covenants and conditions herein contained shall apply and bind their heirs, legal representatives, assigns of the parties hereto and all covenants are to be construed as conditions of this Lease. H SIGNATURE PAGE TO FOLLOW // IN WITNESS WHEREOF the parties hereto have executed this Agreement on the year and date first above written. COUNTY OF EAGLE, STATE OF COLORADO, By and Throug AGE R By: Brent McFal , County Manager UMNEI � The Hertz Corporation, a Delaware corporation By: /za -1 L�: 4Y � Name: Michael E. Holdgrafe Title: Vice President, Real Estate and Concessions STATE OF FLORIDA ) ) ss. COUNTY OF LEE The foregoing instrument was acknowledged before me by Michael E. Holdgrafer , as VP, Real Estate & Concessions of The Hertz Corporation, a Delaware corporation this day of _:_2016. LINDA PEARL DRAVIN My commission expires: s My COMMISSION IfFF937C&2 EXPIRES: November 17, 2019 Bonded ihru Notary PubNc Underwnters Notary Public EXHIBIT A 9: 2015 Google Goo (&