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Home My WebLink AboutR91-052e:wpdocs\foxr RESOLUTION NO. A RESOLUTION AUTHORIZING AMENDMENT NO. 2 TO THE AIRPORT COMMERCIAL OPERATOR LEASE AGREEMENT BETWEEN THE CITY OF DENTON AND FOX-51 LIMITED; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, certain real property upon the Denton Municipal Air- port was leased to Fox-51 Limited, a Texas partnership, by lease agreement dated April 1, 1986; and WHEREAS, the city and lessee amended the lease in 1988; and WHEREAS, the City of Denton and the lessee desire to further amend the lease agreement; and WHEREAS, the Airport Advisory Board fcr the City of Denton has recommended approval of the Second Amendment; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DENTON HEREBY RESOLVES: SECTION I. That the attached Second Amendment to the airport commercial lease agreement between the City of Denton and Fox-51 Limited is approved. SECTION II. That the Mayor is authorized to execute the at- tached lease amendment on behalf of the city and the City Secretary is directed to affix this resolution with the executed lease amend- ment to the original airport lease agreement dated April 1, 1986, inscribing on the original agreement the fact it has been amended and the effective date of the amendment. SECTION III. That this resolution shall become effective im- mediately upon its passage and appr.~.~ ~PASSED AND APPROVED this the__~ day of , 1991. ATTEST: BOB CASTLEBERRY, MAY~ ~JENNIFER WALTERS, CITY SECRETARY BY: ~ APPR~ED A~TO LEGAL FORM: DEBRA A. DRAYOVITCH, CITY ATTORNEY g:wpdocs\fox51k SECOND AMENDMENT TO THE COMMERCIAL OPERATOR LEASE AGREEMENT BETWEEN THE CITY OF DENTON AND FOX-51 LIMITED This lease amendment is made this ay of , 1991, between the City of Denton, Texas, (Lessor~ a~unicipal corporation and Fox-51 Limited (Lessee), a Texas corporation, having its principal offices at Route 1, Box 102, Denton, Texas, 76205. Recitals Lessor owns and operates the Denton Municipal Airport (Airport) in the City of Denton~ Texas. In 1986, Lessor leased land at the Airport to Lessee for the purposes of conducting a commercial busi- ness. In 1988, Lessor and Lessee agreed to the amendment to the lease (First Amendment). Lessor and Lessee now wish to make fur- ther amendments to the lease. Aqreement In consideration of the promises of each, the parties agree that the following provisions of the airport lease dated April 1, 1986, as amended on January 2, 1988, is further amended as follows: 1. Section II, Leased Premises, is hereby amended to read as follows: II. LEASED PREMISES A. Land - Property A: Lessor leases to Lessee the following tracts of land: ALL that tract or parcel of land lying in the T. Toby Sur- vey, Abstract Number 1285, City of Denton, Denton County, Texas, as shown in Exhibit A and described as follows: COMMENCING at the northwest corner of a tract of land as conveyed to the Nobles Company by deed recorded in Vol- ume 2798, Page 695, Real Property Reco~cds of Denton County, Texas, said point lying in the south line of F.M. 1515; THENCE north 88° 33' 43" west with the south line of said F.M. 1515 a distance of 265.14 feet; THENCE north 01° 50' 39" west along and near a fence on the east line of Tom Cole Road a distance of 1000.00 feet; THENCE south 88° 09' 21" west a distar~ce of 902.71 feet to a corner on the east line an asphalt taxiway; THENCE north 12° 25' 00" west with the east line of said taxiway a distance of 274.35 feet; THENCE north 77° 35' 00" east a distance of 280.00 feet to an iron pin at the point of beginning of the herein de- scribed tract; THENCE north 12° 25' 00" west a distance of 240.00 feet to a point for a corner; THENCE north 77° 35' 00" east a distance of 427.15 feet to a point for a corner; THENCE south 17° 42' 13" east a distance of 241.03 feet to a point for a corner; THENCE south 77° 35' 00" west a distance of 449.36 feet to the Point of Beginning and containing 105,180.55 square feet or 2.4146 acres of land. Together with the right of ingress and egress to the property, in common with others so authorized, of passage upon the Airport prop- erty generally, subject to reasonable regulations of Lessor. This right shall extend to Lessee's employees, passengers, patrons, and invitees. B. Land - Property B: All that certain tract or parcel of land lying in the T. Toby Survey, Abstract Number 1285, city of Denton, Denton County, Texas, as shown in Exhibit A, and described as follows: COMMENCING at the northwest corner of a tract of land as conveyed to the Nobles Company by deed recorded in Volume 2798, Page 695, Real Property Records, of Denton County, Texas said point lying in the south line of F.M. Road 1515; THENCE north 88° 33' 43" west with the south line of said F.M. Road 1515 a distance of 265.14 feet; THENCE north 01° 50' 39" west along an~ near a fence on the east line of Tom Cole Road a distance of 1000.00 feet; THENCE south 88° 09' 21" west a distance of 902.71 feet to a corner on the east line an asphalt taxiway; THENCE north 12° 25' 00" west with the east line of said taxiway a distance of 274.35 feet; Page 2 THENCE north 77° 35' 00" east a distar~ce of 340.00 feet to an iron pin at the point of beginning of the herein de- scribed tract; THENCE north 77° 35' 00" east a distance of 389.36 feet to a point for a corner; THENCE south 17° 42' 13" east a distance of 115.49 feet to a point for a corner; THENCE south 55° 35' 32" west a distance of 280.40 feet to an iron pin for a corner; THENCE south 77° 35' 00" west a distance of 140.00 feet to an iron pin for corner; THENCE north 12° 25' 00" west a distance of 220.00 feet to the Point of Beginning and containing '73,737.45 square feet or 1.6928 acres of land. C. DeveloDment of Tract B. 1. Property B is leased to Lessee for the purpose of future development by Lessee. Upon commencement of development of any property within Property B, the property shall on that date be considered to be an addition to Property A and be subject to the same terms and conditions as Property A, including but not limited to, the same rental rate and adjustments, if any, as if the added property had been with- in Property A from the original date of execution of this Lease. The date of issuance of a building permit by Lessor for the improvements shall be considered the "commencement of development". 2. If Lessee fails to commence development of at least thirty- six thousand eight hundred sixty nine (36,869) square feet of Property B by January 1, 1996, that amount of property shall be automatically be consid~ered as an addition to Property A on that date as if commencement of development had begun on that property. 3. If Lessee fails to commence development of the remainder of the property within Property B by January 1, 1998, that property shall be automatically be considered as an addition to Property A on that date as if commencement of development had begun on that property. D. Premises Defined. For the purposes of this Agreemsnt, the term "Premises" shall mean all property located within the metes and bounds described above in Properties A and B, including leasehold Page 3 to comply with the Lessor's Land Development Code and otherapplicablecodes. 4. Section IX, ASSIGNMENT OF LEASE is amended to read as follows: IX. ASSIGNMENT OR SUBLEASE Lessee shall not assign this lease or sublet, assign, transfer,nor license all or part of the Leased Premises without the priorwrittenapprovalofLessor. CITY OF DENTON, TEXAS JENNIFER WALTERS, CITY SECRETARY kEGALAPPROVEDA:O FORM: DEBRA A. DI~YOVITCH~ CITY ATTORNEY BY: ,/ . ATTEST: BY: SECRETARY Page 5 improvements constructed by the Lessee, but not including certain easements or property owned or controlled by the Lessor. 2. Section IV, PAYMENTS, RENTALS AND FEES, paragraph A, Land Ren- tal, is amended to read as follows: A. Land Rental: 1. The land rental for Property A shall begin at seven cents ($0.07) per square foot, per year, payable in twelve (12) equal monthly installments in advance, on or before the first day of each month. The rental shall be subject to the adjust- ments contained in this lease. 3. Paragraphs A and B of Section VIII, LEASEHOLD IMPROVEMENTS are amended to read as follows: A. Improvement Requirements. In making any improvements on the Premises, Lessee shall comply with the following: 1. All requirements of the Lessor's Land Develop- ment Code, other than platting requirements, including but not limited to Lessor's Build- ing, Fire, Electrical, and Plumbing Codes, and other Codes and ordinances applicable to the improvements to be made, including the payment of any fees established by ordinance. 2. Prior to commencing development., Lessee shall obtain the City Council's deteI~ination that the improvements conform to and are compatible with the overall size, shape, color, quality, design, appearance, and genera[L plan of the program established by the Lessor's Master Plan for the Airport. 3. Any rules or regulations of the any Federal or State agency having jurisdiction thereof. B. Time for Approval by Council. The required determination by the City Council that the plans are compatible with the Master Plan for the Airport shall be made by the Council within sixty (60) days of proper submission of the plans to Lessor. If the Council fails to act within the sixty (60) days, the plans shall be deemed approved for the purposes of the requirement of compatibility with the Master Plan, but shall not be deemed approved for any other requirment, including the requirement Page 4 Exhibit A ~ M[TAL OR S 77° 0 0 ~0 T