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2012-056�x�r��NC���, �01��0�6 AI�1 C�RDINANCE AUTI�I`JF�.I�T14It� "T'HE CITY MA1`�A(��R, 4R HI� DESIC�NE�� TQ ��ECUTE OI� �E�IIALI' �F TH� CITY C��' DENTaI`� A T�IRI� AMENI�MEI`�'I' 'Tt7 AN AI�tPORT LEASE �1GREEMEI�IT APPI�OVEI� BY' C)RDINAI`�ICE 2(�{�9_�1� DAT�D TANLJARY 6, 24Q�} AND AMEhiDEI� �3Y t?�i7II�1AT*10E 2009-�23 DAT�I� I]EC�M�ETZ l5, 2�09 AND AME�IDEI} BY a�DIItiTANCE 201t}-19� I�A`T"ED ALJ��[JST li, 2t}10 I3�TW�EI`1 I"HE CITY t�F D�1'tiITON, T�XAS �ND SY�S-VAUGI�i�1 INVE�'I"NIET`1'�S, LLC, WHICH 1h1CLUDES A�VIt�NG OTH�� PI�C3VI�I01`�� "T�� RI�I�T 'T`O SELL �V�ATION FUTL TO TH� I'LJBLZG FC)I� A I'TJEL �'LOVVAGE FE� AIrID TC� PRt]VIDE �C�IVIMEI��IAI. H�NGAI� AND TIE-I�(�V�1 SE�VT�E AT TIIE DE.NT[)N M�TNICIPAL AIFF�.P�I�T T+�R R�AL PRC7PERTY LUGATEL AT ��iC�fl TAXIWAY °`H}'; �1I�D, P�tt�VIDIN� AI'1 �FFECTIVE I�ATE. THE �C7T,�I'�iCIL C3� TH� CITY C)F D��1T(�N H�REBY (1ItDA1NS. �ECTIC�N l. Ti�e City M�it�age� c�t° liis clesig�iee �s ��e�•eby ���tlxot��zed ta �xecute � Tlii�°c� A�iaendt��e��t to� ��i�etl B�se C)�e��ata�� Lease a�ree���ez7t be��,v��n tile Ci�y 4f I�enton �nd Sy�Ces- `Vat����az� Inv�st���et�ts LLC �'o�° t��� i�i��1t f� s��l aviatia�� ft�el ar�ci ���ovide l�a►���r �tic� �i�-do�vt� s�ace at tlie DetYtari I4�unici�al Air��ot�t, in stz��tant�ally tl�e far��f of tlie T�ii�d A��aet1�����nt to t�i� Fixed Base G�eratc�i` Lease A�r•eci��e��t tivllicl� is attacl�eci ta ���d ����cle a p�i�t of t11is a���i��anee fa�• all �l���c�ses ��jd tc� e;�e�cise all ri��its a�ld tiuti�s of t��e Ciiy caf Deiiton ��t�c�e�° t�ie Fi�ec� B�se Q��er�tor• Lease Agreemerit. S�CTIaN 2, T11is c�l'di�lat�c� s1Y�11 l�ecc���3e effectiue i������ecii����yT k���€�n its ��ass��� ��ICi ����raval. PASSE� AND .�FPRQVE� t��is tlte �, day df ����'`j�� .'��t� > 2fl12. / � � � /- � ,��:. � ,/{�-4fC�(f'-f- � ,+� / � �r{'� L,i l� f tiLi�. L7�� �41�i1r3. ��' 1'4/1\ �T1��7k, JENNIFER WALTERS, CITY SEC�,TARY t°� , �, g , � B�"�Ty� �e �. ��,...� -'#�..���_,�,��?�w.,�....� ,`j `4 APPRQ!VED AS� "T'f� L�GAI� FORM: tt'�NITA BUI�GESS, CIT� ATT�R�IEY � ��� BY: �`� °,� �'"= v ,., . �-,� ,��,,/ � -,�,,� ,� �r J �„"'�- �' � STATE O�' TEXAS COUNTY OF DENTON THIRD AMENDMENT TO THE AIRPORT LEASE AGREEMENT WITH SYKES-VAUGHAN INVESTMENTS § � � KNOW ALL MEN BY THESE PRESENTS: T��is Third Az��endment is made executed to Ue effective as of the 6tli day of Marcl�, 2012 to tl�at certaij� Ai�-�ort Lease Agreement bet�vee�i the City af Denton, Texas, a j��tuiicipal coi•��o�•ation, herei��after• �-e�'erreci ta as "Lessor" and SYKES-VAUGHAN INVESTMENTS LLC, hereinaftei• i•efei•j�ed to as "Lessee" �v��ic�� ��vas exect�ted ta be effective as �f tl�e First day of March 2009, ilerei�iaftei• referred to as "Base Lease". WITNESSETH: �VHEREAS, tl�e Lessor a��c! Lessee �vislz to amei�d the Base Lease to add a��p�•oximately 30,000 sc�t�are feet to ti�e Base Lease as Parcel J and to make ce�•taiil otl�er cha�lges ta tl�e Base Lcasc; NOW, THEREFORE, for and in co��side�•atiox� of k��e p�-o���ises a�i�i the uii�tz�al covenai�ts contained iii t��is Agree�ne��t, the pa�-ties agree to amend t��e Base Lease as follows: SECT�ON 1. Secfion II. A., B., and C., "Leased Preri�ises", Section N. A"Payi��e�its, Reiitals and �'ees," a��c� Sectia�l VIII. A. a��d C. "Leaseholc� Im�rovemei3ts" are hereUy ameuded so as to add the falloj�ing the�-eto: II. LEASED PREMISES Lessar, fo�• a��d in consideration of th� coven�nts and agt•eeme��ts herein contained, to be kept i�y Lessee, a�1d sut�ject to t1�e conditions contai��ed lierei�l, does herel�y de��lise and Iease �lz�to Lessee, and Lessee does llereby lease from Lessor, for tile lease term describec� in Article XI�, #l�e �ollolvii�g described lat�d sihiateci in tile City of Denton, Dento�l Co�mty, Texas as sl�own o�� Attacl����e��t A hereto: A. LAND. Tl�e sau�e .68 acre (30,000 sq�iare feet) tr�et or �a�•cel of land Ieased to Lessee undei� tile Eaisting Lease ide��ii�ed as �'arcet J, together �vith in�pz-ave�i�earts ti�e��eon, �vl�ieli ��raperty is ���or•e ���rticuiarly descri�ed in Attaclu�3e�11 "B", attacl�ed l�ereta a��d incoiporated her•ei�� by reference Tog�tl�er �vitii the rigl�t of ingress and �gress to the Leased Pre�llises; a�ld, tlie rigl�t in ca��7���0�� ��7ith otliers so autllorized of passage ���on tlie Airport pro�erty ge��eraliy, su�ject to reaso�lal�le regulatio��s by tife City of Denton and siicl� rights s11all extend to Lessee's er��ployees, J�asse��gea�s, pat�-ons a�1d invitees. �or pur��oses of this Agreeme��t, the terni "Leased Premises" silall i�iclt�de leasehold i�l�p�•ave��lents co�lstructed by t11a Lass�e, ��it 11ot includi�ig cei-t�in ease�iie�its o�• p��aperty oti��led andlor ca��trolled Uy the L�ssor A legal desc��iption of Pa�-ceI J is attacl�ed to tl�is Lease Ag�-eement as � pa�•t of Attaclu��ent ��8�� Pa�� 1 of 6 B. IMPROVEMENTS PROVIDED BY LESSOR: Tl�e i���praveineiits provided l�y Lessor, e�:ce}�t as set foi�tl� ia� A�-ticle II.E, "Aceess to Utilities" belorv, sha11 be as follor��s: I,essor sliall co�istruct 3Q,000 sq��are feet of con�crete �•anap ��itlt �aved access to Taxiway "H", said a•����� to iaicli�de constr�ictiol� of � tliree (3) foot tall aircr�ft engi�ie ext�ai�st blast wall �lo�ag tl�e fiilI le��gtl� o� the �i�est sicie of tl�e ram�. Tlae teri�l "Lessor i���provejize��ts" shall mean those things on or• adjacent ta t��e Leas�d Pre��iises beloi�giz�g to, co��sti-�icted by, or to be co�ish-�icted by the Lessor. Unless othei-�vise noted herein, ail Lessor i���p�•ove���ents are a�id wiil re���arn the property of Lessor. All Lessar iinprovements nnist be c�ese�-ibe�i i�� del�il abo��e, or �3�ave refe�•eneed and attacl�ed to tl�is Ag�•eemej�t i�� a�i exliibit a����roved by Lessor. C. IM�'ROVEMENTS PROVIDED BY LESSEE. 7. Cozksii•i�ciion of Pat•cel J Impro�ements.__Lessee shal[ provide �II sei�•face p�i��ti�ag, �i��Y�lcirig �nd sig��age uecess��•,y ta a�ca�ninodate Lessee's ��se of r�mp to be consti•€icted b,y Lessoe•. IV. �'AYMENTS RENTALS 11ND FEES A. LAND RENTAL. La��d rei�tal sIaall be due a��d payable to Lessar iz� t�velve (l2) eqlial monthiy iilstalh��ents in tlie sums set fortli belo�v, o�l or befo�-e tl�e lst c�ay of eacli aa�d eveiy montll du�•i�ig tl�e term of t�us Lease Agreenaent following completion of the Lessa�� i���E�ro��e�nei�ts as described i�i Section II, B of tl�is Agreem�nt. L�ssee has tlle option to pay a��z���al �-entals a��d fees in �vhole on ar before tlie lst day of Octol�er, at tl�e begii�un�; of the City's fiscal year, each and erfery year of tliis Lease Ag��eejnei�t. 4. Pax•cel H. Base aiinual re�it sh�►11 be � sum of $1G,2Q0 a��ixnatly fo�• tlae la�ad �rea �t�ad i�n�x•oveniet�ts as described i�� Sec#ion II, B. of t�is Agrecine�t (the "Origival Reut") comine�aci��g o�i the �rst day of the �i�o�itl� follo«�i��g com�letion of tlte Lessae• i�nproveinee�ts as described in Section II, B of tliis Agree�nent. Nlo�ithly reutnl shall Ue 1/12t�' of the a����i�al �•e�xt, Ha�veve�•, Ueginning I1�Ia�•ch 1, 2D14 the Origin�l Rent Fvill be adj�isted iu accordance `viftx Sectiau xV.C. o� tltis Aga•eeme�at. �a� �dditio�� ta tEie Base Al�iii�a[ rent for Pa�•cel J, Lessee sliall pay Lessoi• � perceuiage of aIl haugae� ;�ncl tie-dorvn fees cQ[lected by Lessee frorri pe►'SOilS I•euting facilities o� Pa�•cel J. SucE► fees st�all be equnl ta: a. 10% of all h�ngar ;�iid tie-do�vn fees tE�ro€rgE� No��eniber 30, 2009. Pa�e 2 of 6 b. 11% of all haug:�r ai�d t�e-do����i fees tlirough November• 30, 2019. c. 12% of a[I h�ngar and tie-do�va� �ees tl�roirgh the end of tl�e Le�se Tet•m. AII sucli fees shal[ be paid montlily to Lessar o� or l�efoY•e tE�e ISt�' day of each inoutt� d�n•ing the Lease Te��m. The fees s�x�►ll be accompa��ied by r•eco��ds s}�o�vi�ig the date ai�d locatio� o� tlie Aii•part �vherc the aircraft f�as sto�•ed o�• pa�•ked a�c[ tlie t�il �iumbei•, o�� side n�rmUe�•, of the ai�•c��aft. VIII. LEASEHOLD IMPROVEMENTS A. REOU�REMENTS: Before conu�ieiici�ag tlae constil�ctio�� of any additio�3al irr��roven�ents o�� tlle Leasec� Pre�l�ises iilclud'uig tl�e P�rcel J T�npa�oveinents (t1�e " Additio��al Lease Iinprotremej�ts"), Lessee sliall sl�bmit: 1. Docui��e��takia�i, specificaiio�is, or desigu �iTork, to l�e appi•oved by tl�e Lesso�•, «�l�iel� sha11 establisli tl�at tlie improveme�lts ta be b��ilt or C0115t11YCt�C� upon ti�e Leased Premises ai•e in confor�na��ce witil tlie overall size, shape, calor, c�uality and design, iai ap��eara�iee arld st�lich�re of the progra��� established by Lessor o�� tlle Ait-�ort. 2. All ��la�as and s�eci�catiot�s showifig the locatio�a ��pon tl�e Leaseti P�'e��iises of The proposed co��st�-��ctio�� and ii���rovements; 3. Tlie esti�Y�ated cost of such ca��st�uction. No coizsti�rctio�l ���ay con�nence �intil Lesso�- has a�pra��ed tl�e plans a�1d speci�cations and the locakion of ilie Le�se Ln�sroveme��ts, it11CI t�l� �Sf3112aie� COStS OFSLiCIl C0115�2UC�lOi1. A�l�l'OV�� �y the Lessor shall ��ot be ui�►easonably witEilield, Doctir��enta�•y evidea�ce o� tlle achlal co�t of co�ist�-�lctio�� o�i ��t�blic areas anly {suel� as taxi�vays, a�ro��s or parking lots) shali Ue deiivereci by Lessee lo Lessor's City Ma»ager from ti�1�e to tiine as sucl� costs are paid l�y Lessee, aud Lessor's City Mai�age�• or desi�uee is l�ereby �utiinrized to etzdo�•se upo�i a copy of tlus Lease Agreeme��t filed witl� the City Seeretary of Lessor s��cil actual a��1ou��ts as lie sl��ll have fai�ud to have been paid by Lessee, at�c� tlle f�iidings of tlie City Ma��ager ��JIle�1 eiidorseci by l�i��� �ipon said contract sllail be coucl��sive t�}�ot� ali pai�ties foa• all p�uposes of this Lcase Agree���e�it. No later t11an 30 days aft�r coz��pleEio�� of tlie Additional Lease liizprovemetzts, Lesse� siiali s��lmlit ta Lessor c�etailed as built �lans of ti�e Additia��al Lease I�nprovei��ents aild daci�t���ntary evide�ice acceptable to Lessor e��ide�lcu��; tlie tot�l cost to coilst�llct the Lease �i�3prove��ients ("Cost to Const��uct Lease I�nprove��ie�Its"}. Page 3 o F 6 C. OtiVNERSHIP OF IMPROVEMENTS: Tlie Lesso�� Imp�•ovements at�e t�te propern� of t�e Lessoe•. Lessee sii�ll p�•avide n leg�►1 descripiio�i aud se�rvey uo [ater tli��i 30 d���s ix�om the effective date of this �g�•ee�ite�it identified as Attacliinei�t `B" icIe�rtifyi��g ParceI J. Additio���l Lease IY�i��•ove���e�its, ►vlien ca�ttp�eted b�� Lessee, (tlie "Lease In�pt�oveme��ts"} s���tll be suE�ject to the follo�vi�ig couditioa�s, te�-ms and pt•or�isions: I. Re�l�oval of_Bt�iidin�s. No bi�ildiilg or }3eri��a��e��t fixture niay �e removed fioiil the Leased Premises. 2. flsst�mt�tioil, Tlie Lease Ia��pra��e��ieiits sllali autoi��aticaliy Ueco���e the ��ropet-ry of Lessor absolutely fi•ee, ��jitlio�it at�y cost to Lessar, at tlie end of the Lcase Ter�i�, or a��y eYtensiar� tilereof. 3. Failure to Caj�iulete Parcel J Im�i•ovezi�ents, The linprov�i�le��ts shaIl i2��nediately beco��le the praperty of Lesso�• at no cost, expei�se, o�• con��e��sation to Lessee s��ould Lessee fail to conlplete the Lessee's Impro��ei��ents ���itivn the Const�l�ction Pcriod as �rovided i�l Section �I.C. of tl�is L�ase Agreeme�it. 4. Cai�ceilatio�i or Tern�i�lation. Should t��is Lease Agreeinent l�e cancelled or terini��ateti be�ore the e��d of ti�e Lease Term, o�• extensio�� tl�e�-eof, Lesso�- shall lla��e tl�e �'ight to p�irchase all of the Lessee Improve3�lents, I�i ihe event of a ca��cell�tion or ter��iinatio�i, otl�e�- t��a�� c�ue to a defacilt l�y Lessee that has ��ot t�een et�red as provic�ed belo�v, tl�e ��i�•ch��se ��z•ice siiall l�e ec�i�al to tl�e ��7ost rece�it value of the L�ase Il1I�]1'O�rET11e11iS aS Cl��ei'1111i1Ct� t?j� ��le D017k027 COUIii}� C8rit1'�I A�7�31'�lS�i DISt11Ci �"Vaili� of tlle Leas� I�liprovei��ents") redt�eed by 1/30 foz- eacl� year of tiie Lease Te���l that l�as expired as af tlie clate of terinination (the "Pu�-cl�ase �'�•ice"). Witt� regard to Additioi�al Lease Improveil�e�its, slzould the De�lton Ca«uty Ce�it�-al Appraisal Distz-ict not detei•mi��e a separate val�ie for tlie Lease �n��•ovements, or sllo��ld sucl� separate valuatio�� i�e older than hvo years, the�1 tiie Purcliase Pcice will i�e determi��eci taki�3g tlle Cost to Coi�stri�et tl�e Lease Iii�praveiileiits reduc�d by 1/30 for each yea�� tl�e Lease Te�•i�� has ex�ired as of tlie date of tez-►�li��atian. If tlle ter�lii��ation o�• c�i�c�Iiatioil is due to a defaiilt by Lessee tlia# has not Ueeii ci��-ed witl�i�� 30 �ays after ��Tritten notice of defauit to Lessee, tlien tlie Purcl�ase P�•ice as ciete��nineci abave shall be redl�ced by Sa%. Howevei•, if Lessee pravides �vr•itten iiotice to Lessoa- withizi s�id 30 day ciii•e ��e�-iod that it is i���possible to cure s�icli defaE�lt �vithin said tii��e pe�-iod, tl�ez� tl�e Lessor may co��se��t to a�� exte��sion OF 511C�1 tin�e to ci�re, �vi�ich consent will r�ot be ii��•easor�ably �vikl�ield. Ti�is clause s}zall i�ot a�ply to tlie Fz�el Farm. SECTION 2. Save aud exee�t as amended liez•eby, a11 the �-e�a�ai��i��g ciauses, se��tei�ces, paragr•t�phs, sectio�ls and s��[�sections of the Base Lease shall ref��ain in fiili force a�ici effect aa�d si}all fiilly ap}�ly io tl�e additio��al praperty aiid improvements aud eYpanded Leased Pre�nises res�tltin� ii�o��� this Tl�ii-d Aniei�d�11c�1t of tl�e Base Lease. Page 4 of 6 li'� 1�VIr�'I�,rESS WHEFtI�"!C�F, tl�e ���rties 13����e exe�riteci tl�i$ Lea�e A����ei�ici�t �s c�f t��� effecti��e ci�tte fit�st abave t���-ifteii. C]T�r O� DE�TQN, `I'E�A�, I�ESSU�Z _-�° �.-� � �� � .� �� � : BY. °`'��� � � > , . �.�--� �`=r�� � � ��-� T?�R�i� C. Cf1i'v�PF3F�I,L,, .IT4T I`vvTT�N�S��T�-. ATTBST, J�I'�NIFER �h�AL�'EItS, CITY SEC�TAR`i' .�, � , � � � ��r �, �: �� �.,� .� . ._ . � _ . X � ������ r��.� A ��c+ ������, ra���: Al��1T.�1 �3lJR�GESS, CITY �TTflRi�EY � �.: �; �;��.. F3�`: " .. ,� � �' �� --`',�,�' ��-,��,� �� a ,r`" �YKES-V'ALIGHAN INVESTM�NTS �,LC, �� T�x£�s Iia��utec� lia�i]ity coM����t��ay � < Iy. [ ,V lf ., �. �. N �f � �:. � �.,-.{ � � ��`� �s✓_.... ` J� ''k. �. }-....` _....i� 4 Rt�PER V� GHAN, N� AGII�G PART�ER A.CKN�`�JLEDGMENTS THE �'I'�.TE �F TEXr�.S CC)U��TT4r �QF D�I�T�� � ��.�' � ���",r Tl�is �iist�l�ui3��1t i�ras a��a�otvieti�eci 1�efo►�e �ne �l� tl1e�,�� c1ay� of ������.:t�=�,� ., 2012, t�y C�ec�l•�e C`. C'�tit����iell, Cit� �i�iifi�c�• af tl�e �ity a� Dcutat�, Tcx�s, o�l �ac�i�lf of saicl �i���nici��ality. �,. ��k - � � d & _. , k rF . ... t .. �, . � � f � J f � »-v � i 1 f �.a�p 4YY(� . �.iC'.V�[�f��� 9F. 4%9"i�#�°CtiJ � fF� ,,,,. ✓ � �'¢,.�.. _ � ..r , , � t. . �..>�..,''- 5��� � 4, N�r7� ARi' P./,�,IC, �T�TF Q�F TE�S �� S 6�i�7���sy d',�f ��� ,�€.xi� a�� Tttxa� �^ � � �V'� ��]�r Q€���F�i3sr� �x�r�r�:� �,r��' � E'�, �. �r� � ��t� �S �; � € 9 � `� (� � � � �� Cf C 45 `�«'e�4�1bw���� ...—...,.,�..�.�...,r Pa�;e � af 6 T� szaTE oF T�xAS � COUNTY O�' DENTQN T�lIS I115�1111I1ei1� �ir�35 c'1C�CIlO�i'iedged beiare n�e o�l the� J� day of �ir� , 2012 by Ro}�er Va�ig3�n, Mailagiiig P�rtiler fo�� Sy�es-Va��gl��n Investments LLC, a Texas nnited li�bility COI11�lc�Ily, 0�1 �el�alf of said com�any. ``�S�RYPUB�! ANDR�A J. AiKf�1SON ::°�'� :�'= �fotasy Public, 5tate o# Texas My Cammission Expiras "'.',,�;, ,E+''' Ma€ch 25, 2014 fpf ��� �p1���"' NQTARY PUBLI TATE OF TEXAS Pa�e 6 of[ 6