HomeMy WebLinkAboutECAT11-012 Hy Mountain Transportation FIFTH AMENDMENT TO AGREEMENT
FOR OPERATION OF GROUND TRANSPORTATION SERVICES
BETWEEN EAGLE COUNTY AIR TERMINAL CORPORATION AND HY-
MOUNTAIN TRANSPORTATION, INC.
THIS Fifth 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 "Fifth Amendment ") is made and entered into this
Day of � 2011.
00 rIOVG01 RECITALS
WHEREAS, the Parties entered into an Agreement for Operation of Ground Transportation
Services dated August 8, 2006 ( "Original Agreement "); and
WHEREAS, the Parties have previously extended the Original Agreement on three separate
occasions;
WHEREAS, the Parties desire to extend the Original Agreement for an additional period from
November 1, 2011 to October 31, 2012.
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 Fifth Amendment:
"Section 3.1 Term. This Agreement shall become effective on 12:01 a.m. local time on
November 1, 2011 and continue for one year, expiring on 12:01 a.m. local time on October 31,
2012 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."
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SECTION 4.2 Privilege Fee shall be deleted in its entirety and replaced with the following
effective upon the execution of this Fifth 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. 2011
Five Thousand Three Hundred and Seven Dollars and Sixteen Cents
$5,307.16
January 2012
Nine Thousand Nine Hundred and Eighty -eight Dollars and Forty -one Cents
$9,988.41
February 2012
Nine Thousand Nine Hundred and Eighty -eight Dollars and Forty -one Cents
$9,988.41
March 2012
Eleven Thousand Two Hundred Thirty -nine Dollars and Nineteen Cents
$11,239.19
April 2012
Five Thousand Three Hundred and Eight Dollars and Twenty -one Cents
$5,308.21
Corporation and Concessionaire agree that, except as expressly altered, modified and changed in
this Fifth An,end;rient, 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 Fifth Amendment and the Original
Agreement, the provisions of this Fifth Amendment shall control.
This Fifth Amendment shall be binding on the parties hereto, their heirs, executors, successors,
and assigns.
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IN WITNESS WHEREOF, the parties hereto have executed this FIFTH AMENDMENT
effective as of the date first written above.
CORPORATION:
Ea: - -.Linty Air TA minal Corporation
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By. AV L
J•� ney, President
CONCESSIONAIRE:
Hy- Mountain Transportation, Inc.
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Title:T , c_ „).e._.,`'
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