HomeMy WebLinkAboutC17-422 The Hertz CorporationLEASE
This Lease Agreement (hereinafter referred to as "Lease" and/or "Agreement") is
made and entered into this 12/18/2017 , 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 Cnlpiration, a Delaware
corporation (hereinafter referred to as "Tenant").
WITNESSETH:
WIIIIREAS, the Landlord owns and operates the Eagle County Regional Ah -port,
(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 Icept and
performed as hereinafter expressed, the parties agree as follows:
1. .Rental Swire. Landlord hereby demises and leases exclusively unto
Tcnant, 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 herclo 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 foe for the Initial Lease Term (hereinall.er defined) shall
he $0.19 per square fool (annual rate, of $12,414,60, monthly rate of $1,034.55, and daily
rate of $34,01). Therefore, rent for the Initial Leasc Term shall be $5,645.66 ($34.01 x
166 clays). One half of the rent ($2,822.83) shall be payable on or before December 31,
2017, the second half of the rent ($2,822.$3) shall be payable on or belbre January 31,
2019.
3. Initial Lease Term. `l'lie Initial Lease Term is as follows;
a. The Lcase hereby granted shall become erfbctive November 1,
2017 and shall continue in effect up to and including April 15, 2018 (hereinafter referred
to as "Initial Lease Term").
C17-422
b. Notwithstanding anything contained herein to the contrary, either
party may terminate this -1 ease at any time during the Initial Lease TeiTn or during any
extension by sending the other party thirty (30) days prior written notice of its intent to
terminate. In the event of siLch early termination, Tenant shall he responsible for rent for
such Lime it actually occupied the premises. Should Land)ord terminate the Lease early in
accordance with this Section 3 prepaid rent shall be refunded to Tenant on a pmrated
basis.
4, U—se 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 Ten Ant 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 PremisesiRental 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 F..xhi hit "A." attached hereto.
5. Condition of Premises. Tenant stipulates that it has examined the Leased
Promises/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. Furthermnre, 'Tenant
shall maintain the Leased Premises/Rental Space in good condition and in all respects
satisfactory to I ,andlord 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 wncession or license to the Leased
Premises/Rental Space. An assignment, subletting, concession nr i icense 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
S. Ouiet En'a ment. 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 Premiscs/Rental Space without the Landlord's written consent which Landlord
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may withhold in its sole discretion. Any changes or additions madc without the
Landlord's written consent shall be promptly removed and the Leased Premises shall be
restored byTenant.
Tenant.
10, Tenant's Obligations, Tenant shall:
(a) Keep the Leased PreniiwslRerrtal Space. in clean and sanitary
condition, including snow rernoval; 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 negliguntly destroy, deface, damage, impair or
remove any part of tho Leasud Premises/Rental Space, its appurtenances, facilities,
equipment, nor to pezmit any invitees, licensees, or other persons acting under Tenant's
central to do so; and
(d) Not permit a nuisance or commit waste; and
(e) Make all repairs to the Leased Premises/Rental Spacc 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 wnuld he eonsiderod hazardous or
extra hazardous by any reasonable insurance company.
(g) Not conduct any fueling or vehicle maintenance operations on the
Leased PrcrniscslRcrrtal Space.
11. Signs. The Tenant may place a sign at the cntzance or about the Leased
Prernise,%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 5uaec. The Landlord shall have ac ess to the Rental
Space at reasonable times upon notice to the Tenant to:
(a) Inspect the Rental Space;
(b) Make necessary repairs, alterations or improvements;
(c) Supply so•vices; and
(d) Show it to prospective buyers, mortgagors, lenders, contractors or
insurers.
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13. Fire And Other Castial1y. Either party may cancel this Lease if the
Leased Premises/R.ental Space is materially damaged by fire or other casualty.
id. 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 ANTI and duly authorized and
licensed to do business in Colorado, the following:
i. Auto coverage with limits cul" liability not less than 51,040,000 each
accident combined bodily injury and property damage liability insurance,
i neiuding coverage for owned, hired, and non -owned vehicles.
ii. Commercial General Liability coverage for claims relating to personal
and bndily injury, premises and operations, personal/advertising injury,
products/completed operations, broad forth property darnagc 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 stoned or used on the Leased
Premises/Rental Space from and against lass of damage by vandalism,
malicious mischief, fare, snow, hail, or nthur damage caused by acts of
god or third parties. The Parties agree that Landlord shall not be
responsible for and Tenarit 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 he 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 casts and expenses incident thereto which may accrue against, be
charged to, or be recoverable from the [ ,andlord, its Board of County Com ill issioncrs, the
Eagle County Air Terminal Corporation and their individual members, their
cornmissioners, agencies, departments, officers, agents, employees or servants and
successors as a rosult of the negligent acts, errors, or omissions of Tenant, its employees
or agents in connection with Tenant's use and oceuipancy of the Leased Prernises/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
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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, scq. or any similar
provision of Iaw. 'I'his paragraph shall survive expirati oil or termination hereof.
16, Environmental. Tenant agrcos 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 Prernises/Rental Space arising out of the
acts of Tenant, its employees, customers, agents, or licensers. Hazardous substances shall
mean those materials defined as hazardous materials, hazardous waste or hazardous
substances under CERCLA P.L. 96-511], as amcaded, or any other local, state or federal
law.
17. 8nrrender of the Premises. At the expiration of the term of the I .ease 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
Promises/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 $2,069.10 per month and such continual
occupancy shall be considered a montli-to-month tenancy,
18. Re uirements Upon Termination of Lease. Upon termination of the
Lease, the Tenant shall clean the Leased Premiseslkental Space and return the same to
Landlord in its initial condition, except for reasonable wear and tear.
19. Default. In the event Te.nan[ fails to timely pay amounts due hereunder,
Landlord shall deliver to 1'enant written notice detailing 'T'enant's failure to pay. Tenant
shall have five (5) business days from the date of such notice to make paynnent in full to
Landlord. If at the expiration of the five (5) business days in the event of a failure to pay,
or irmncdiatcly upon any other default under this Lease, this Lease may be forthwith
termina[ed 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 (3) 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 he
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.
1'he Hertz Corporation
5
8501 Williams Road
Estero, FL 33928
Attention: VP of Real Estate and Concessions
County ol'Eagle, State of Colorado
Attention: Aviation Director
P.O. Box 850
Eagle, CO 81631
With a copy to;
Eagle County Attorney
P.O. Sox 850
500 Broadway
Eagle., Colorado 81631
Either party may cliange its address by written notice to the other party. -Nlotices
are deemed to have been given effective as of the date of delivery if personally delivured,
and as of the third day after mailing, if nifailed.
21. Duty to Obtain Re uired 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 perfarm its obligations rander 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 small he
construed to grant a cause of action to non-parties claiming as third party beneficiaries or
otherwise.
23. No Waiver. '['he failure of the Landlord to insist in any one or more
instances upon a strict compliance with any of the obligations, covenants and agreennenis
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 relinquislirrient or release of such obligation, covenant or
ageenaent and no forbearance by the Landlord or any default hereunder shall. in any
manner be construed as constituting a waiver of such dcla«It by the Landlord.
24, Amendments. All amendments to this Agreement taus[ be made in
writing by mutual agreement of the parties and no oml amendments shall be, of any force
or effect whatsoever.
25. Entire A reement. This Agreement supersedes all previous
communications, negotiations andlor contracts pertaining to the respective parties hereto,
if any, either verbal or written and the same not contained herein are hereby withdrawn
and annulled.
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26. Governing Laver. The laws of the Slate of Colorado shall be controlling
and any action between the parties hereunder shall be brought in the County of Eagle,
State of Colomdo.
27. ]finding Effect. The covenants and conditions herein contained shall
apply and bind their heirs, legal represe.utativcs, assigns of the parties hereto and all
covenants are to be construed as conditions of this Lease.
Il SIG.'VATURE PAGE 7'O FOLLOW17
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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 Throu Its COUNTY MANAGER
By: a
Kelley Collier, Deputy County Manager
TENANT:
The Hertz Coir n, a Dela are orporation
By: a
Name: Stephen A. Blum
Senior Vice President,
Title: Real Estate and Facilities
STATE OF FLORIDA _ )
} ss,
COUNTY OF LEE
The foregoing instrument was acknowledged before me by Stephen A. Blum , as Senior V.P,
Real Estate and Facilities of The Hertz Corporation, a Delaware corporation this 12th
day of December, 2017. 1}
My commission expires:
Notary Public
,�'P•., L1NiJRP2hNCll�'.A�1N
MY co,\Wl5510N 9 FF 937,,62
"`- EXPIRES November 17,201�J
Sonded Tbw Mtary PON Urldenvnlcrs
HERTZ
65,350 5q. ft.
FRONTIER (THRIFTY�.15,000 sq. ft.
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