HomeMy WebLinkAbout2014-047\\CODAD\Departments\Legal\Our Documents\Ordinances\14\Nebrig Estoppel Ord.docx
ORDINANCE NO. 2014-047
AN ORDINANCE OF THE CITY OF DENTON, TEXAS APPROVING AN ESTOPPEL
CERTIFICATE TO INWOOD NATIONAL BANK AND NEBRIG PROPERTIES, L.P. FOR A
HANGAR LOCATED AT 4650 JOHN CARRELL RD AT DENTON ENTERPRISE
AIRPORT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, on April 17, 2001 the City of Denton, Texas (hereinafter the "City) entered
into that certain Airport Lease Agreement with Triangle Aviation, Inc. (TRIANGLE) for
property located at 4650 John Carrel Rd at Denton Airport (`Leasd); and
WHEREAS, on January 17, 2006 the City approved an assignment of the Lease from
TRIANGLE to Charles N. Davis III; and
WHEREAS, on October 21, 2008 the City approved an assignment of the Lease from
Charles N. Davis, III to Nebrig Properties, L.P.; and
WHEREAS, Nebrig Properties, LP has requested the City to enter into a Lease Estoppel
Agreement (`Lease Estoppel) with it and Inwood National Bank (`I1,1WOOD) to facilitate the
financing of a mortgage loan to Nebrig Properties, L.P. under the Lease; and
WHEREAS, the City Council deems it in the public interest to enter into a Lease
Estoppel with INWOOD and Nebrig Properties, L.P. which will amend the Lease and will
further facilitate the financing of a mortgage loan to Nebrig Properties, LP. under the Lease;
NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The City Manager or his designee is hereby authorized and directed to
execute a Lease Estoppel between the City of Denton, INWOOD and Nebrig Properties, L.P. in
substantially the form of the Lease Estoppel, which is attached hereto and made a part of this
Ordinance for all purposes.
SECTION 2. This Ordinance shall become effective immediately upon its passage and
approval.
PASSED AND APPROVED this the day of 2014.
N4AkK A. Bl?1 ItOU S, MAYOR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY: ' f
j
APPROVED AS TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY. All
Page 2
M�•'! ! '�
RECORDATION REQUESTED BY:
INWOOD NATIONAL BANK
7621 INWOOD ROAD
DALLAS,TX 75209
WHEN RECORDED MAIL TO:
INWOOD NATIONAL BANK
7621 INWOOD ROAD
DALLAS,TX 75209
SEND TAX NOTICES TO:
NEBRIG PROPERTIES, L P
4801 JOHN CARRELL ROAD
DENTON, TX 76207 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
THIS LANDLORD'S ESTOPPEL CERTIFICATE dated November 5, 2013, is made and executed among NEBRIG
PROPERTIES, L P, whose address is 4801 JOHN CARRELL ROAD, DENTON, TX 76207 ("Grantor"); INWOOD
NATIONAL BANK, 7621 INWOOD ROAD, DALLAS, TX 75209 ("Lender"); and
("Landlord").
Grantor and Lender have entered into, or are about to enter into, a financial transaction whereby Lender has acquired or will acquire a security
interest or other lien on Grantor's leasehold interest in the Property described below.
To induce Lender to extend one or more loans or other financial accommodations to Grantor against such security interest in the Property and
for other valuable consideration, with knowledge that Lender is relying thereon, Landlord and Grantor hereby agree with Lender as follows:
THE LEASE. Landlord has ]eased the Property to Grantor pursuant to a lease (the "Lease") dated April 17, 2001 The following information is a
summary of the basic terms and conditions of the Lease: THAT CERTAIN AIRPORT LEASE AGREEMENT COMMERCIAL OPERATOR WHICH
WAS MADE AND EXECUTED ON APRIL 17, 2001 AT DENTON, TEXAS, BY AND BETWEEN THE CITY OF DENTON, TEXAS, A MUNICIPAL
CORPORATION, AND MR. JOHN BROWN, PRESIDENT OF TRIANGLE AVIATION, INC; LATER ASSIGNED TO MR. CHARLES N. DAVIS, III, ON
JANAUARY 17, 2006 AND WHICH LEASE WAS AGAIN ASSIGNED TO NEBRIG PROPERTIES, L. P ON OCTOBER 22, 2008.
REAL PROPERTY DESCRIPTION. The Lease covers the following described real property, together with all improvements thereon (the "Real
Property") located in DENTON County, State of Texas:
GRANTOR'S LEASEHOLD INTEREST IN THAT CERTAIN LEASE DATED APRIL 17, 2001 BETWEEN GRANTOR AND THE CITY OF DENTON,
TEXAS ON THE PROPERTY MORE FULLY DESCRIBED IN THE ATTACHED EXHIBIT "A" WHICH IS ATTACHED AND MADE PART OF THIS
LEASEHOLD DEED OF TRUST AS FULLY SET FORTH HEREIN.
The Real Property or its address is commonly known as 4650 JOHN CARRELL RD., DENTON, TX 76207.
ESTOPPEL. Landlord and Grantor hereby jointly and severally represent and warrant to Lender that:
Lease in Effect. The Lease (i) has been duly executed and accepted by Landlord and Grantor, (ii) is in full force and effect, and (iii) has not
been modified or changed, either in writing or orally, except as reflected in the copy of the Lease provided to Lender.
No Default. As of the date of this Certificate, (i) all conditions and obligations to be performed by either Landlord or Grantor under the
Lease, to the date hereof, have been satisfied; (ii) there exists no breach, default, or event or condition which, the giving of notice or the
passage of time, or both, would constitute such a breach or default under the Lease; and (iii) there are no existing claims, defenses or
offsets against obligations of either Landlord or Grantor under the Lease, including any against rents due or to become due under the terms
of the Lease.
EntireAgreement. The Lease constitutes the entire agreement between Landlord and Grantor with respect to the Lease of the Property.
No Prepaid Rent No deposits or prepayments of rent have been made in connection with the Lease, except as may be described above in
the summary description of the Lease.
AGREEMENTS. Landlord and Grantor hereby jointly and severally agree with Lender that, during all such times as Lender is the beneficiary of
the security interest in the Property described above:
Modification, Termination and Cancellation. Landlord and Grantor will not consent to any modification, termination or cancellation of the
Lease unless Lender first consents thereto in writing.
Notice of Default. Landlord will notify Lender in writing concurrently with any notice given to Grantor of any breach or default on the part
of Grantor under the Lease, and Landlord agrees that Lender shall have the right (but not the obligation) to cure any breach or default
specified in such notice within the time periods set forth below and Landlord will not declare a default of the Lease, if Lender cures such
default within thirty (30) days from and after expiration of the time period provided in the Lease for the cure thereof by Grantor; provided,
however, that if such default cannot with diligence be cured by Lender within such thirty (30) day period, the commencement of action by
Lender within such thirty (30) day period to remedy the same shall be deemed sufficient so long as Lender pursues such cure with
diligence.
MISCELLANEOUS PROVISIONS. This Certificate shall extend to and bind the respective heirs, personal representatives, successors and assigns
of the parties to this Certificate. This Certificate shall be governed by and construed in accordance with the laws of the State of Texas. If
Landlord is other than an individual, any agent or other person executing this Certificate on behalf of Landlord represents and warrants to Lender
that he or she has full power and authority to execute this Certificate on Landlord's behalf. Lender shall not be deemed to have waived any
rights under this Certificate unless such waiver is in writing and signed by Lender. No delay or omission on the part of Lender in exercising any
right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Certificate shall not constitute a waiver
of or prejudice Lender's right otherwise to demand strict compliance with that provision or any other provision.
GRANTORAND LANDLORD EACH ACKNOWLEDGE HAVING READ ALL THE PROVISIONS OF THIS LANDLORD'S ESTOPPEL CERTIFICATE,
AND EACH AGREES TO ITS TERMS. THIS CERTIFICATE IS DATED NOVEMBER 5, 2013.
GRANTOR:
NEBRIG PROPERTIES, L P
Drewcy Incorporated
LANDLORD:
EBRIG PROPERTES, L P
Z)/ ?,Ilq
Date .
Date
LANDLORD'S ESTOPPEL CERTIFICATE
Loan No: 104404348 (Continued) Page 2
LENDER:
NATIONAL BANK
Lricer -7' Date
PARTNERSHIP ACKNOWLEDGMENT
STATE OF
SS
COUNTY 0 A
This instrument was acknowledged before me .. b- f-- j -�� 201+ by David Michael Nebrig, President of
Drewcy Incorporated, General =gLot a part er on behalf of NEBRIG PROPERTIES, L P, a partnership
JOAN M. DAVIS
tily Commission Expires
Mey 16,2014 r
r n
yF6bI7ic' State of Texas
19T "t—nk #M
STATE OF
)SS
COUNTY OF
This instrument was acknowledged before me on --.20 by
(a) partner(s) on behalf of a parinursh4,.
Notary Public, State of I exas
LENDER ACKNOWLEDGMENT
STATE OF f14 a
)SS
COUNTY OF
a ledge(i e.fore rne this day of 20 14- by
as of INWOOD NATIONAL BANK. 0
My Comm' n Tres
i , May t6, axes
LASER PRO Lending, Vei. 133.0.024 Copi. Harland Financial Solutions, Inc. 1997, 2013. All Rights Reserved - TX H:\CFI\LPL\G208 FC
TR-23217 PR-36