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Home My WebLink AboutECAT C04-386 US Airways*=01 •. SECOND AMENDMENT TO THE EAGLE COUNTY AIR TERMINAL CORPORATION "SIGNATORY AIRLINE -TYPE D" TERMINAL BUILDING LEASE WITH US AIRWAYS, INC. This SECOND AMENDMENT (hereinafter "SECOND AMENDMENT") to the "Signatory Airline -Type D" Terminal Building Lease between Eagle County Air Terminal Corporation, a not for profit 63-20 corporation of the State of Colorado (hereinafter "CORPORATION") and US Airways, Inc., a corporation organized and existing under the laws of the State of Delaware and authorized to do business in the State of Colorado (hereinafter "AIRLINE") is made this L4 Uday of /�o nV_Z142004. RECITALS WHEREAS, on November 18, 2003, CORPORATION entered into a "Signatory Airline -Type D" Terminal Building Lease with AIRLINE (hereinafter "AGREEMENT") for the purpose of leasing certain portions of the TERMINAL BUILDING and granting operating privileges thereon to AIRLINE; and WHEREAS, on February 24, 2004 the parties entered into a First Amendment to the AGREEMENT, and WHEREAS, pursuant to Section 18.19 of the AGREEMENT "this Agreement may be amended only in writing, and executed by duly authorized representatives of the parties hereto'; and WHEREAS, the parties now desire to extend the AGREEMENT for an additional one year tern. NOW, THEREFORE, in consideration of the mutual promises set forth herein and in the AGREEMENT, the parties agree as follows: AGREEMENT 1. Article 2, Section 2.1 of the AGREEMENT shall be amended to read as follows: "Section 2.1 Term. This Agreement shall become effective at 12:01 a.m. local time on November 21, 2004, hereinafter called the "Effective Date," and shall continue for one year, expiring at 11:59 p.m. on November 21, 2005 subject to prior termination as provided in Article 14 hereof. The parties agree that this is a Signatory Airline —Type D Agreement as a result of such one year lease term". 2. The Calculation of Terminal Rent for Ski Season 2003-04, attached to the AGREEMENT as Exhibit B shall be replaced and superseded by the Calculation of Terminal Rent for Ski Seasons 2004-05 attached hereto as Exhibit B, which may be amended from time to time as set forth in the AGREEMENT. 3. Except as herein expressly amended or supplemented, the terms and conditions of the AGREEMENT and the First Amendment shall remain in full force and effect. 4. If any conflict exists between the provisions of the Second Amendment, the First Amendment and the AGREEMENT, the provisions of the Second Amendment shall control. 5. The Second Amendment shall be binding on the parties hereto, their heirs, executors, successors and assigns. IN WITNESS WHEREOF, the parties hereto have executed this Second Amendment to the "Signatory Airline -Type D" Terminal Building Lease between Eagle County Air Terminal Corporation and US Airways, Inc. on the day and year first written above. CORPORATION: EAGLE COUNTY AIR TERMINAL CORPOYATION, A Colorado nonprofit torIm By:enconi, President AIRLINE: US AIRWAYS, INC. By: Waynellemdee- �.\e,� T'ee.rn�v►�' Vice President, Real Estate 2 STATE OF COLORADO ) ) ss COUNTY OF EAGLE ) '' //II The foregoing instrument was subscribed and sworn to before me thisy 1 day of _00j 2004 by Am M. Menconi as President of Eagle County Air Terminal Corporation. Witness my hand and official seal. My commission expires: 0�—e O & l �N+n o'Nwea lih of, U+ rsi n vt � ^A ss ` COUNTY OF 1 ` ) The foregoing instrument was subscribed and sworn to before me this ZW day of l-fclen M.T,�tt 0 rn 2004 by ode , as Vice President, Real Estate of US Airway, Inc. Witness my hand and official seal. My commission expires: O ci ) IJ" 31, Z 0. at'P4 Notary Public �hrtsfine eel,,TeNsen jln, G:\pn\airport\usaimayamendment2 EAGLE COUNTY AIR TERMINAL CORPORATION ECATALRENTOQI USAlr noudu.123 Exhibit B Calculation of Terminal Rent for Ski Season 2004-05 (USAirways-1 Year Lease; 25% rent premium; no exclusive space) 15-Sep-04 Exclusive and Joint Use Soace: Rate/So Ft Calculation Exclusive Sq Ft Rate/Sq Ft Space Rent American 4,512 $45.23 $204,098 United Express 2,918 $45.23 131,995 Delta 1,082 $45.23 48,944 Northwest 865 $45.23 39,128 Continental 1,825 $45.23 82,553 USAirways 0 $45.23 0 Total Exclusive Space/Rent 11,202 $506,718 Total Joint Use Space 36,328 Total Exclusive and Joint Space 47,530 Terminal Rent per Section 8 $2,150,000 Total Exclusive and Joint Space 47,530 Calculated Rental Rate/Sq Ft $45.23 Terminal Rent Net of United Less Exclusive Space Rent Total Joint Rent to Allocate Less FBO Business Purchase Joint Rent Total Joint Space Rent to Allocate Joint Suace Rent Allocation $2,150,000 (506,718) $1,643,282 (636,788) 20% 80% $1,006,495 $201,299 $805,196 Joint 20% Equal 2003 Actual Market 80%. Allocated Space Share Enplanements Share Share Rent American $33,550 84,957 48.2% $387,788 $421,338 United Express 33,550 40,668 23.1% 185,630 219,180 Delta 33,550 15,819 9.0% 72,206 105.756 Northwest 33,550 13,515 7.7% 61,690 95,239 Continental 33,550 15,294 8.7% 69,810 103,360 USAlrways 33,550 6,150 3.5% 28,072 61,622 Total $201,299 176,403 100.0% $805,196 $1,006,495 FBO Business Purchase Joint Rent Allocation FBO FBO Business Market Business Purchase Share Purchase Joint Rent American 48.2% $636,788 $306,682 United Express 23.1 % $636,788 146,805 Delta 9.0% $636,788 57,104 Northwest 7.7% $636,788 48,787 Continental 8.7% $636,788 55,209 USAirways 3.5% $636,788 22,201 100.0% $636,788 Page 1 of 2 EAGLE COUNTY AIR TERMINAL CORPORATION C-CATALRBM405 USAir noexW.123 Exhibit B Calculation of Terminal Rent for Ski Season 2004-05 (USAirways-1 Year Lease; 25% rent premium; no exclusive space) 15-Sep-04 Components of Airline Terminal Rent Excludes Refund of Net Concession Revenue Share After Year End 1st Year 2nd Yr & Later American (10 yr teasel: Annual Payments (4) Payments (12) Base Rent - Exclusive $204,098 Allocated Base Rent - Joint (20% Equal Shares) 33,550 Allocated Base Rent - Joint (80% Enplanements) 387,788 Allocated Base Rent - FBO Business Purchase (0%/100%) 306.682 Less Adjustment Due to AA $750,000 Cap (182,118) Total American Rent $750,000 $62,500 United Ex rp ess (3 Year Lease): Allocated Base Rent - Exclusive $131,995 Allocated Base Rent - Joint (20% Equal Shares) 33,550 Allocated Base Rent - Joint (80% Enplanements) 185,630 Total Space Rent $351,174 Base Rent Premium (00%) 0 Allocated Base Rent - Business Purchase (0%/100%) 146,805 Total United Express Rent $497,980 $124,495 Delta (3 Year Lease): Allocated Base Rent - Exclusive $48,944 Allocated Base Rent - Joint (20% Equal Shares) 33,550 Allocated Base Rent - Joint (80% Enplanements) 72,206 Total Space Rent $154,700 Base Rent Premium (00%) 0 Allocated Base Rent - FBO Business Purchase (00/6/100%) 57,104 Total Delta Rent $211,804 $52,951 Northwest (3 Year Lease): Allocated Base Rent - Exclusive $39,128 Allocated Base Rent - Joint (20% Equal Shares) 33,550 Allocated Base Rent - Joint (80% Enplanements) 61,690 Total Space Rent $134,367 Base Rent Premium (00%) 0 Allocated Base Rent - FBO Business Purchase (00/6/100%) 48,787 Total Northwest Rent $183,154 $45.789 Continental (3 Year Lease): Allocated Base Rent - Exclusive $82,553 Allocated Base Rent - Joint (20% Equal Shares) 33,550 Allocated Base Rent - Joint (80% Enplanements) 69,810 Total Space Rent $185,913 Base Rent Premium (00%) 0 Allocated Base Rent - FBO Business Purchase (OWI00%) 56,209 Total Continental Rent $241,122 $60,280 USAirways (1 Year Lease): Allocated Base Rent - Exclusive $0 Allocated Base Rent - Joint (20% Equal Shares) 33,550 Allocated Base Rent - Joint (80% Enplanements) 28,072 Total Space Rent $61.622 Base Rent Premium (25%) 15,405 Allocated Base Rent - FBO Business Purchase (0°%/100%) 22,201 Total USAirways Rent $99,228 $24,807 Total Base Rent - Exclusive $506,718 Total Allocated Base Rent - Joint 1,006,495 Total Base Rent Premium 15,405 Allocated Base Rent - FBO Business Purchase (00/6/100%) 636.788 Less Adjustment Due to AA $750,000 Cap (182,118) Total Rent Page 2 of 2 $1,983,287 $283,515 $62,500 MPA a I "ODRIBUTPON C3E Llgals to: 1. ontract Book ?_. 3. 1 4. 1.�AccoIf i ;n