2012-057a�rr�raNCE �e�. 2a 12-�5?
AN QRI�INANCE AUT�IaRIZING THE GI�'`1' MANA�E�i., (�R. I-�IS D�SIGNE�, T�
E�T�CLITE ClI"d B�HALF C)F 'I'I�E �ITY {)�` DENT(7N A�`C)UR'I'H AMEl'�DMEI�IT TC) hN
AIRPQR`�' �,EASE AGREEMEI�IT A�'�I�€��'ED BY C�!�DII`��N�� 2�(��-�QI8 �AT�I�
Jt�NUARY 6, 20�9 A.NI� AMEl'e1�3�D BY O��7lNAN�E 2C?09-323 l�AT�I� DECEIVI��R 15�
20�9 Ai�iI3 ANIEN�7�D Bi� C�RDI3�IAI'�1+CE 2(}1[�-193 LATEI� �'�,[�GUST I?, 2�1(} A3�1D
AIVI�NDED F3Y C)R�3INANCE I�ATEL7 Ik�iAI�CH 6, 2(}12 �3ET��E�,1'�i THE C1TY i7�'
DENTC�N, "TE�AS ANI� S4'�E�-'V�[1GHN Il�1VESTMEN°�'S, LLC, WHICH I�ICLUI�E�
AM!�N+� �7THER PR(JVISIUl"�'S T�IE �I�HT T(� �E�,L AVIATIC)�*1 FI1�L `I`C► TH� PUBLI�G
�(�}I� � I'UEL �'Lt�WAC`aE FE� AI`1L7 TO PRaVIDE C;OMMER�CIAI, HANGAF� AND TIE-
DOWN ��R�r''I�E r�T THE DEI°dTQN MUII�IIICIPAL AIR�''QRT Fd�Z iLEAL PF�(�pERTY
LC)CAT�I� AT �7t�3 ��➢A�TAN I�TT�.IV�; AN�, P�.QVIDII�I�C �'�I'� �F�'ECTIVE I�AT`E.
TIIE COi_JI�1C�L �F THE GITY Q�' I�E�ITQII�11 HEREI3Y URI)�INS�
SEGTIC�N l. Tll� Cit}r Mana�er� ot• lYis desigt�ee �s 17���e�y authax�ized ta e�ect�te a�'a���-t��
Amend�nerlt ta a F'ixeci B�se d��e���tc�r �,e�se ag��eeznet�t b�t�wvee�� t�Ye �ity o�' I�et�t�t� �r�ci S}�l�es-
V�t�gl�a�� I�rves�m��it� I�LC fa� tlle r•iglit to sel� aviatiarl fi��l and pi°c�vid� haizg��• �nd tie�ci�w�i
s���e at #��e I�e�7to�1 IVI��i��c����l Air���•t, it� st�t��ta�itially t}�e f�rn� oi �tte Thi�•cl �nei�da��er�t tca tl�c
�'i;��d B�s� Qperato�° �,e�se Agree►��ent u�J11�c1� is �tt�cli�d to at�� nl�de a���rk aft�iis o��ciina��ce for
all ptxi•�aases ��id �� e;�e�•cise all ��igl�ts a��� citaiies of tlie Cit}� c��' I�er�ton t►n�iet• the �ixec� �ase
CJ��i�ato�• Le�.se Ag��eeit�e�lt.
SECT�(�N 2. Tl�is ot°ctin�nce s��all l�ec�rlle �ff�cti�e itntnedi�tely u�a��� iis }��ssage �ii�
a����oV�l.
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�'A�SED ��l`�iD AFPR.QVED this �he ��� �`"_ day c�f �� `'.��� ('i/';�, , 2012.
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�TTES`�:
JENI�IIFER �ALTERS, CIT"Y SEGRETARY
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AI'I'R�V�I) AS TC3 LEGAL T'aRN1:
�NI'TA ��JRGES�, GITY ATTaF�N�Y
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STATE OF TE�AS
COUNTY OF DENTON
FOURTH AMENDMENT TO THE
AIRP4RT LEASE AGREEMENT
W�TH SYKES-VAUGHAN iNVESTMENTS
§
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§
KNOW ALL MEN BY THESE PRESENTS:
This T�ird Amend�nent is �nade executed to �e effeetive as of tlie 6th day of March,
2012 ta tlaat certain Airpor�t Lease Agreement between the City of Denton, Texas, a municipal
cor�oratio�l, hereinafter refei�red to as "Lessar" and SYKES-VAUGHAN INVESTMENTS LLC,
he�•einafter referi•ed io as "Lessee" wl�ich was execut�d to �e effecti�e as of the First day of
March 2009, ��ez�ei�iafter rafeixed to as `Base Lease".
WITNESSETH:
WHEREAS, tlie Lessoi• a��d Lessee wis�i to aziiend tlie Base Lease to add approxirnately
Ib,200 sqt2are f�et to tlie Base Lease as Parcel .T and to make certain other changes ta the Base
Lease;
NOW, THEREFORE, for and in consideratio�� of the pi•omises and tl�e mutual covenants
contained ir� tl�is Agreenient, tl�e parties agi•ee to a��ienci the Base Leas� as follvws:
SECTZON l. Section II. A., B., and C., "Leased Pr�mises", �ection IV, A"Payinents,
Rentals and Fees," and Seetion VIII, A. and C. "Leasehold Improvements" are liereby amended
so as to add tlie following thereto:
II. LEASED PREMISES
Lessor, for and in consideration of the caver�ants and agreeme��ts l�erein contained, ta be
ke�t by Lessee, a��d subject to the ca��ditions contai��ed herein, does hereby den�ise a��d lease
unto Lessee, and Lessee cioes hereby lease frorn Lessor, far the lease te�-m described in A�-tiele
III, the foliowing described land siti�ated i�� tl�e City of Denton, Denfo�� County, Texas as shown
03� Attaehment A ilereto:
A, LAND. The same .37 acre (16,200 square feet} tract or parcel of land leased to
Lessee under the Existing Lease identified as Pa�•cel K, together �rith impi•o��eine�its thez-eon, wl�ich
pi-operty is 3nare partic�ilarly described in Attaehment "B", attached hereto aiad incorporated h��•ein
by refer•ence togethe�• wit11 tl�e riglit of ingress and egress to the Leased Pren�ises; and, the right i�i
coinmon tivilh aTl�e��s so authorized of passage upoi� tlie Airpart prop�rty generally, subject ta
1•easol�able i•e�ulations by the City af Denton and sucl� rights shall exte�id to Lessee's �i��playees,
passengers, patra�ls and inviiees. For purposes of �liis Ag�•eeaaient, the tern� "Leased Pren�ises"
sii�ll i��cl�de leasel�old impx-ove�nents construeted by the Lessee, but not including certain
easeir�ents or property ow��ed and/or ca��tz�olled �y t}ae Lessor
A legal description of �'arcel K is attacl�ed to tl�is Lease Agreemei�t as a�art af A�tachment
��B,�
�age 1 of S
B. IMPROVEMENTS PROVIDED BY LES�OR: T11e improvenients provided by
Lessa�•, exce�t as set forth ul Ai�ticle II.E. "Access to Utilities" belo��T, shall be as iallows: Lessor
sh�ll coustrr�ct I6,200 squaY•e feet of concrete parking with paved access tfl Spai•tan Da•i�e,
said pa�•king io include co�struction ot' a security fence o� ti��•ee sides af parki«g area.
The terni "Lessar in�provemenfs" s1�alI �iean those things on or adjace��t to the Leased Prenuses
�eloz�gulg to, constructed by, o�• to be corast�ucted by tlze Lessor. Unless otlierwisa noted herein, a11
Lessar iYnpro�rernents are a�id ��rill �•einai�i the prope�-ty of Lessor. All Lessor improvements n�ust be
described ir� detail above, or above z-efe�•ei�ced and attaclied to tl�is Agree�nent in an exhibit
app��oved E�y Lessoa�.
C. IMPROVEMENTS PROVIDED BY LESSEE.
7. Construction o�' Parcel K Irn ra��emeuts. Lessee shalI pl•ovide signage necessaiy ta
accommodate Lessee's use oiparki�ag �o be coustructed by Lessor.
N. PAYMENTS RENTALS AND FEES
A, LAND RENTAL. La�id re�rtal shall be due a��d payable to Lessor in tweh�e (12) equal
monthly install�nei�ts in the sums set foi-�l� below, on or before the Ist day of each and
eve�-y riiantl� during the tern� of tl�is Lease Agreeme�lt following conipietion of the Lessor
improvements as described in �ectio�i II, B of this Agreennent, Lessee has the �ptian to
�ay at�zual �-entals at�d fees i1� whole o�� or before the lst day of October, at the beginning
of the CiYy's f scal year, each a�ad every year of this Lease Agx•eement.
4. Pai•cel H. Base a�nua� rent si�all be a sum of $7,140 annuall�� fo�- the laud area and
imp��o��etnents as described in Sectia�t II, S. of ti��s Agreerr�eut {tlae "Original Re�rt")
com�nencing ou the �irst day nf fl�e IIlUI1fE1 FO��OWIll� com�letion of t1�e Lessor
irnprovements as described in Sectio� II, B of tftis Ag�•eement, Mont��iy rental sl�ali
�e 1/I2tf' of t�e anni�a[ rent. Horveve�•, begin��ing March ], 2014 the 4riginal Reni
���ill be adjusted in accoi•dance wit� Sectiou IV.C. of this A�reeme«t.
VRI. LEASEHOLD IMPROVEMENTS
A. RE UIREMENTS: Before coi��mer�ciiig the eo��structio�� of aziy additional i�nproveme�lts on
tl�e Leased Prer��ises incl�iding tlle Paz-cel K In�pravet��ents (tlie " Additional Lease Inl�i•o�ei��e�Its"),
L�ssee sl�all sub�1��:
Page 2 af 5
1. Docume��tatia��, specifcatiorzs, �I' �85i�11 1V4Ti{, to k�e approv�d by the Lessor, whicl�
shall establisl� t��at tlze in�proven�e��ts to be t�uilt or const�-ucted upon the Leased
Pren�ises are i�� coza Foinianee �irith the averall size, shape, calor, quality a�ad design, in
appeara��ce and sti-�cture of tlie p�•ogra�n estahlished 6y Lessor on tl�e Aiiport.
2. AIl plans and specifications sl�owi�ig t11e location upon the Leased Preznises of t�ie
proposed canstr�ction and in�p�•ovements;
3. The estitnated cosi of such const�uctio��.
No constzuctio�i may eonunence ur�til Lessar has approved tlie plans and specifications and
the Iocatio�i o� ihe Lease In�proveme��ts, and the esti�nated costs of such co��str�.ictian. Approval by
the Lessor si�all not be uru�easo��ably �vithheld, Documenta�ry evidence of the actual cast of
cozishl�ction o�� public areas only (suc�i as taxiways, apro�is o�• �arking lots) shall be delive�-ed by
Lessee to Lessor's City Manager fiom ti�ne to #i�a�e as such costs are paid by Lessee, and Lessor's
City Managez• or d�signee is l�ereby aiitl�orized to endo�•se upon a copy of this Lease Agreei�ient
fiiled �vith tl�e Cify Secreta�y of Lessaz• sueh actuat amot�nts as ��e shall have fo�and to have been paid
by Lessee, a��d t��e fia�d'uigs of the City Mat�ager whe�� endorsed by hinl upo�� said eontract sha11 be
conclusive upo�� all pa�-ties for all putposes of this Lease Agreement.
No later than 30 days after con�pletian of the Additioi�al Lease Imp��o�ennents, Lessee shali
st�b�nit to Lessor detailed as i�uilt pla�is of tiie Additiozaal Lease Improvemenis and dociunenta�•y
evid�nce acce}�tai�le to Lesso�• evidencing t�ae iotal ca�t to coiistruct the Lease �inprovemenis ("Cost
ta Construct Lease Inaproveme��ts").
C. O'L�NERSHIP OF Il1�ROVEMENTS: The Lessnr I�nproveme�its az•e the px�operty af the
Lessor. Lessee shalE provide a Iegal description and survey na later than 30 days fi•om tE�e
effective date of this aga�eement ide��tified as Attachrnent "B" ideniifying Parcel J. Additional
Lease Impa�o�emen#s, �v�ten c�nnpleted b�r Lessee, {t1�e "Lease Tm�i•ovements") sf�ail �e
su�ject to tl�e follo���ing condiEiaa�s, ter�ns aR�d provisio��s:
1. Ren�o�al of Buildi�� s. No buildiiag or permanent fixture n�ay be removed from t11e
Leased Premises.
2. Assum tiozi. The Lease Improvements sl�a�l automaticaily becanae the property o:f
Lessor absolutely fi•ee, without any cost to Lessor, at tlae end of the Lease Terrn, or
auy exte�ision thereof �
3. �ailure to Can� lete Pa�•cel K�n rove��lents. Tl�e I�nprove���eiats sliall im�nediately
�ecome tl�e pra�erty of Lessor at no cost, expense, ar conlpeylsatioi� to Lessee shouId
Lessee fail to co�l�plete the Lessee's I���pravei�ients witl�ui t�e Consh��ction Pe�7od as
provided i�i Sectio�i T�.C. oftl�is Lease Agreeinent.
Page 3 of S
�. G�i�ce�lat�o�i �i� Te���]unaticat�. S�iau�d t�ris I.ease Ag�-ee�37e��k l�e c�ncel�ed a�° te�r��inated
}�efc��-e fli� eilci o£ tlae Lea�e Tez-��1, o�• ext�ilsi��� tl�e�-eof, L�sso�• sl�all 11ai�e tf�e i-i�;l�t fa
��t�i-cl��s� a11 af i1�c Le��ee �s�l���a�/e�alei�ts. I�� tl�e e��e�lt of a cat�c�llaCion oj•
tei-�zlinatia�l, o#l�ei� tliaj� ci�ie to a defa��lt E�y L��see tliat ]las r�ot bee�7 cl�i�eci �s �az°avir�ed
1�eIo���, t�1e pia��cl�ase l�ri�� s�lal� �ie ec�ual ta t��e r�rlost i•eeei�f �7aC�ze af t€�e L,e�se
�r�1��rc�ve�nel�ts as detea�i�i�le� by tf�e Deijt�on �'oea�ify Cei�t���l A�a��raisal I�is�i-ict ("Value
�i t11� L�ase ��ll�rav�ll�et�ts") t��ducec� by T/3(} foi° e�cl� yeac of ti�� Lease Te��i�i t��a� llas
�x�ii•ed as c�f tl�e clafe of tez�tni�3afia�� (�he "P�rr�hase P���ice"). �'ifll i-e,�arci to Additiai�a�
Lease �m}�ro��ernet�ts, s��QUUId tIie D���totl Cc�a.itity Cei�t�°al Ap��i-aisal Dist�•ict not
dete�•i�1��z� a se��ai•ate vallie fo�� ��ie Leas� I����t•avet�lents, or s�iok�lc� sucll s��arate
�Tal�ratio�� lae oldei• tl��zi� �vQ ye�rs, �l�eri t��e Pa��•cl�ase P�-ice will �e detertiiiz�ed tal�a�ig
tl�e Cost t� �a��stillct tl�e Lease I��1���ove�7�ellts �•ed��Ged }�y l/��} fc�r each yeat• tlie Lease
'�e��i�i l�a� ex�iz��d as of t�ie date of te��t�iii7t�tiflla. Tf tl�e tert��inatio�� c�r ca��cellafio�� is ciiae
tc� � def�ulE �y Lessee tl�at fias r�ot l�ee�i curet� ��=i�hiz� 3t� days �ftea• w�•iitez� i�atice of
cie�°���iYt to I..ess��, tl,er� tlie Pi�rclia�� Pi-ice as detet•t�1i��eci abort� sl�all �e ��ed�i�ed l�y
5[�°l0. ���4�re��er, if Less�� �ro�Jides ��F�7tt��Y ��otic� to LessQi° ��ritf7i�7 sa�d 3Q d�}r ci�re
��ei•icad tl�at it is it���cassiE�le to e�rre suc�� d�fau�t �v�i�7i�1 s�id tiiz�e �e�-iod, t��ex� t�le Lassar
���ay cc��ise��t to ati e�tei�si��1 �af sucl� tir��e ta cui-e, w�iicl, cari�e�7t �vi11 r1o� �e
ttz�t°eas�t�ably ��rit���aeid. Tl�is c�aiase s��all �ia! a}�}�ly t� the Fuel Fa�-t�a.
�ECTIQN 2. Save an� eacept as �n��nded �re�•eb�, a!1 tl�e �•er���it�ing clal�ses, sea�tei�ces,
�ai•agi-��11s, s�cti�i�s a�ld suE�s��ti�tis af �l�e B�se L�ase �lxatl r°en7ai�z in fiill fc��-e� a,cld effect a��d
s1�a11 fiilly ���ty tc� tl�� additio�ia�l pro�e�•ty ar�cl ir�l�rc�vernet�ts ai�ci ex�a�7d�d Le�se�i Fi°e117ises
resu�ting fl°o��� l��is T'lii�•d Atr�endrne�i� of t��� Base �.ease.
Il�T V��`I'�TESS '+rV�IERE�F, fh� par-kies have exect�ted tk�is Lease A�reetnexit as caf flle
�ffecti�je d7te first al�a�re �v�-ittet�.
CITY d�" DENT4N, TEX1�S, L�S��7R
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ATTEST.
JENNIFE� i�'JALTERS, CITi' �ECRE�A�Y
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A.PPR ED AS Q LEGAL FORM:
/�NITA BU��ESS, CIT'�' ATT�!I�1�E`�'
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t� Y�\ 1:�,7—' Y 1-9.L1'Vlld-]_L'� Ily Y�� l�`iL'.1V 1~k_l �L�j
a T��:�as I��i�it�d Iia�iltty cc�ail��a��}�
BY: �� ;�. �,�������w�..�� C,a,��.�_�,r
ROPER VA�T�HAi�I, M� �� GING l�ARTik3ER
AC��N(JWL��GM�NTS
THE STATE OF TE�1AS
CO[ 1N`�`�' C��' DENT'C}Z°vT
�.� < �. �
Tliis iaist�li��ie��t ���as acl�lotivlec�ged t�e:fare ��ie or� tlle�� day c�f ��� :�. �-� _� ; 2012, by
G�or�e C. Cara���iell, City Mat�ager Qf t��� City ofI�e�itc�i�, Tex�s, c��i �el�alf o�said r��i�r�cipality.
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F;� ������•' C����r����i �� �C���
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T�IE STA.TE OF TEXA� 5
COUI�ITY QF DEI'�TdI�?
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T�lis ir�s��-���i1ei-�t ���a� ackr�awledged �efo�•e me a�i t��e �� d�y c�f %��.�,-� ,��12 by
Rol�ez� ��a���l�t�, 1'vlarragix�g P�rt��er fc��• 5�yk�s-Va�i�l�ai� I�ivestii3�tlts LLC, � Texa,� lii lited lia�ili�y
coi�i��ai�y, �a�i k3�lialf 4�'said coin�atiy,
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��� `�'',e �vocary �ub�ic, state �,t Tsxas ' 1`1C�TAI��' PUBLI $ TATE OF TE�AS
,,�; w�,.: �+ity Garnmission Expires
w�`'"�ii%ieis`�� �L1fC�l `�J�'�, �Q7�
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