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HomeMy WebLinkAboutECAT10-004 Hy-Mountain Transporation Fourth Amendment FOURTH AMENDMENT TO AGREEMENT FOR OPERATION OF GROUND TRANSPORTATION SERVICES BETWEEN EAGLE COUNTY AIR TERMINAL CORPORATION AND HY- MOUNTAIN TRANSPORTATION, INC. THIS Fourth Amendment to the Agreement for Operation of Ground Transportation Services between the Eagle County Air Terminal Corporation, a nonprofit corporation of the State of Colorado ( "Corporation ") and Hy- Mountain Transportation, Inc., a Colorado Corporation (" Concessionaire ") (hereinafter "Fourth Amendment ") is made and entered into this (, t. Day of O .J-.. L ,' , 2010. RECITALS WHEREAS, the Parties entered into an Agreement for Operation of Ground Transportation Services dated November 9, 2004 ( "Original Agreement "); and WHEREAS, the Parties have previously extended the Original Agreement on three separate occasions; WHEREAS t he Parties desire to extend the Original Agreement for an additional period from � gr p November 1, 2010 to October 31, 2011. AGREEMENT THEREFORE, in consideration 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 Fourth Amendment: "Section 3.1 Term. This Agreement shall become effective on 12:01 a.m. local time on November 1, 2010 and continue for one year, expiring on 12:01 a.m. local time on October 31, 2011 subject to prior termination as provided in Article 8 hereof. 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." • 0 OA 1 SECTION 4.2 Privilege Fee shall be deleted in its entirety and replaced with the following effective upon the execution of this Fourth Amendment: "Section 4.2 Privilege Fee: For the concession privileges granted hereunder, and in addition to the charges paid for the premises described in Section 1'.1 C and Subsection 4.1 hereof, CONCESSIONAIRE shall pay to CORPORATION: the Per Trip Fee in Subsection 4.2(b); and, beginning on Commencement of the Term and for each month designated thereafter, the Minimum Monthly Privilege Fee in Subsection 4.2(a) or the Per Trip Fee in Subsection 4.2(b), whichever sum is greater, as follows: A. Minimum Privilege Fees. A minimum monthly privilege fee, as follows: December, 2010 Five Thousand One Hundred Twenty -two Dollars and Seventy -four Cents $5,122.74 January 2011 Nine Thousand Six Hundred and Forty -one Dollars and Thirty -two Cents $9,641.32 February 2011 Nine Thousand Six Hundred and Forty -one Dollars and Thirty -two Cents $9,641.32 March 2011 Ten Thousand Eight Hundred Forty -eight Dollars and Sixty -four Cents $10,848.64 April 2011 Five Thousand One Hundred Twenty -three Dollars and Seventy -six Cents $5,123,76 Corporation and Concessionaire agree that, except as expressly altered, modified and changed in this Fourth 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 Fourth Amendment and the Original Agreement, the provisions of this Fourth Amendment shall control. This Fourth Amendment shall be binding on the parties hereto, their heirs, executors, successors, and assigns. //REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK// 2 IN WITNESS WHEREOF, the parties hereto have executed this FOURTH AMENDMENT effective as of the date first written above. CORPORATION: Eagle County Air Terminal Corporation Sara J. Fisher, resident CONCESSIONAIRE: Hy-Mountain Transportation, Inc. B y: (Tr Title: 3