2011-187s:llegallour documents\ordinances\l l\airport first financial lease 41h amendment.doc
ORDINANCE NO. 2O 11-1 g 7
AN ORDINANCE AUTHORIZING THE CITY MANAGER TO APPROVE A FOURTH
AMENDMENT TO AN AIRPORT LEASE DATED SEPTEMBER 15, 1987 AS AMENDED
BY ORDINANCE 2010-297 DATED SEPTEMBER 7, 2010 AND BY ORDINANCE 2011-035
DATED MARCH 1, 2011 AND BY ORDINANCE 2011-097 BETWEEN THE CITY OF
DENTON, TEXAS AND FIRST FINANCIAL RESOURCES, 1NC. AT THE DENTON
MUNCIPAL AIRPORT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, certain real property upon the Denton Municipal Airport was leased to First
Financial Resources, Inc. in an Airport Lease Agreement; and
WHEREAS, the City of Denton and Lessee desire to amend the lease agreement; and
WHEREAS, the City Council deems it in the public interest to approve this ninety (90)
day extension of the Lease; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The City Manager or his designee is hereby authorized to execute a Fourth
Amendment to an Airport Lease Agreement between the City of Denton and First Financial
Resources, Inc. at the Denton Municipal Airport which is attached to and made a part of this
ordinance for all purposes and to exercise all rights and duties of the City of Denton under the
Airport Lease Agreement.
SECTION 2. This ordinance sha11 become effective immediately upon its passage and
approval.
PASSED AND APPROVED this the �� day of lJ�(iGV�`�%�(/ , 2011.
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
�
BY: �., I�W��Q�
s:llegallour documentslordinances\l llairport first financial lease 4di amendment.doc
APPROVED AS TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY: `r�.. ,�
FOURTH AMENDMENT TO
COMMERCIAL OPERATOR LEASE AGREEMENT
BETWEEN CITY OF DENTON AND FIRST FINANCIAL RESOURCES, INC.
THE STATE OF TEXAS
KNOW ALL MEN BY THESE PRESENTS
COUNTY OF DENTON
Tlus Fourth Amendment to that certain Commercial Operator Lease which was first made
aild executed on September 15, 1987 and amended on September 7, 2410, March 1, 2011 and
June 7, 2011 at Denton, Texas, by and between the City of Denton, Texas, a municipal
corporation, hereinafter referred to as "Lessor," and First Financial Resources, Inc., hereinafter
referred to as "Lessee".
WITNESSETH:
WHEREAS, the Lessor and the Lessee have requested an amendinent of the Lease term
a11d the City Manager and the Airport Advisory Board support the amendment of the Lease;
NOW, THEREFORE, in consideration of the promises and the mutual covenants
contaiiied in this Agreement, the parties agree as follows:
SECTION III. - TERM OF THE LEASE IS HEREBY AMENDED TO READ AS
FOLLOWS:
The tei�n of this Agreement shall be for a period of twenty-three
(23) years, cominencing on the 15t1i day of September, 1987 and as
ainended to continue through the 13t�' day of October 2011, except
as amended hereby to extend for ninety (90) days through the
11th day of January, 2012, unless earlier terminated under the
provisions of the Agreement. Lessee shall have the first right of
refusal to renegotiate this lease for three (3) additional iive year
periods at rentals and tenns mutually agreed upon by the Lessor
and Lessee without regard for or considering the then cost of
living index. Lessee's election to renegotiate this lease shall be in
writing addressed to the City Manager at least one hundred eighty
(180) days before the expiration of the primary term of twenty-
tl�ree (23) years as amended hereby to extend for ninety (90)
days and at least 180 days before the expiration of each additional
renegotiated period. The rental and terms to be negotiated shall be
reasonaUle and consistent with the then value, rentals and terms of
siinilar property on the Airport. Lessee's first right of refusal to
renegotiate this lease shall expire upon the end of the last day of
the primary term of twenty-three (23 ) years as amended hereby
to egtend for ninety (90) days and the last day of each additional
renegotiation period.
SECTION N. — PAYMENTS, RENTALS AND FEES IS HEREBY AMENDED TO
READ AS FOLLOWS:
Lasld rental shall be the sum of Two Hundred Twenty Eight
Dollars and Eighty One Cents ($228.81) per month effective
October 14, 2011 through January 11, 2012, payable in three
(3) equal monthly installments in the sum of Two Hundred
Twenty Eight Dollars and Eighty One Cents ($228.81) in
advance, on or before the first day of each and every month during
the teim of this agreement. Notwithstanding the foregoing, the
lease rental is reduced by the product of $0.11481 per square foot
tiines the ilumber of square feet compromising all easements
established in accordance with Article II(c).
SECTION XI. — INSLTRANCE OF THE LEASE IS HEREBY AMENDED TO
READ AS FOLLOWS:
C. Indemnity. Lessee must indemnify, hold harmless and
defend the Lessor, its officers, agents and employees, from and
against liability for any and all claims, liens, suits, demands
and/or actions for damages, injuries to persons (including
death), property damage, (including loss of use), and expenses,
including court costs, attorneys' fees and other reasonable
costs, occasioned by or incidental to the Lessee's occupancy or
use of the Leased Premises or the Airport and/or activities
conducted in connection with or incidental to this Lease
Agreement, including all such causes of action based on
common, constitutional or statutory law, or based in whole or
in part upon the negligent ar intentional acts or omissions of
Lessee, its officers, agents employees, invitees or other persons.
Lessee must at all times exercise reasonable precautions on
behalf of, and be solely responsible for, the safety of its
officers, employees, agents, customers, visitors, invitees,
licensees and other persons, as well as their property, while in,
on, or involved in any way with the use of the Leased Premises.
The Lessor is not liable or responsible for the negligence or
intentional acts or omissions of the Lessee, its officers, agents,
employees, agents, customers, visitors and other persons. The
Lessor shall assume no responsibility or liability for harm,
injury, or auy damaging events which are directly or indirectly
attributable to premise defects, whether real or alleged, which
may now exist or which may hereafter arise upon the Leased
Premises, responsibility for all such defects being expressly
assumed by the Lessee. The Lessee agrees that this indemnity
2
provision applies to all claims, suits, demands, and actions
arising from all premise defects or conditions.
THE LESSOR AND THE LESSEE EXPRESSLY INTEND
THIS INDEMNITY PROVISION TO REQUIRE LESSEE TO
INDEMNIFY AND PROTECT THE LESSOR FROM THE
CONSEQUENCES OF THE LESSOR'S OWN
NEGLIGENCE WHILE LESSOR IS PARTICIPATING IN
THIS LEASE AGREEMENT WHERE THAT
NEGLIGENCE IS A CONCURRING CAUSE OF THE
INJURY, DEATH, OR DAMAGE. NOTWITHSTANDING
THE TERMS OF THE PRECEDING SENTENCES, THIS
INDEMNITY PROVISION DOES NOT APPLY TO ANY
CLAIM, LOSS, DAMAGE, CAUSE OF ACTION, SUIT AND
LIABILITY WHERE THE INJURY, DEATH, OR DAMAGE
RESULTS FROM THE SOLE NEGLIGENCE OF THE
LES50R OR ANY OF ITS EMPLOYEES, CONTRACTORS,
OR AGENTS, UNMIXED WITH THE FAULT OF ANY
OTHER PERSON OR ENTITY.
ALL OTHER PROVISIONS OF THE LEASE AGREEMENT REMAIN IN FULL
FORCE AND EFFECT.
�I NE S WHEREOF, the parties have executed this Agreement as of the
day of � > 11.
BY LESSOR:
�
. _ �
�
�. , ..
CITY MANAGER
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
B d�
APPROVED AS TO LEGAL FORM:
ATIITA BURGESS, CITY ATTORNEY
�
BY: � %'
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FIRST FINANCIAL RESOURCES, INC. LESSEE:
,
BY: :
Byron art .
STATE OF TEXAS
COUNTY OF DENTON
Tlus ilistrument was acknowledged before me on the I q day of Sc01� r�f�' ,
20�, by Byron Hart.
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STATE OF TEXAS
COUNTY OF DENTON
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Notary Public, State of Texas
My Commission Expires —�Z
(or Notary Stamp)
This instrument was acknowledged before me on the�/ " day of Zr�2,L_ ,
20�/ , by George Campbell, City Manager on behalf the City of Denton, Texas, a municipal
corporation.
' ��L] JFNNIFER K. WALTERS
,..�,
__°' �'; _ Notary Public, State of Texas
- ' ° My Commission Expires
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otary u lic, State of Tex s
My Co ission Expires � l �
(or Notary Stamp)