2013-271S: \Legal \Our Documents \Ordinances \13Wirport Lease Agreement for 5035 Warbird Drive.docx
ORDINANCE NO. 2013 -271
AN ORDINANCE AUTHORIZING AND APPROVING THE TRANSFER OF AN AIRPORT
LEASE AGREEMENT APPROVED BY ORDINANCE 2004 -362 ON DECEMBER 1, 2004
AND SUBSEQUENTLY AMENDED BETWEEN THE CITY OF DENTON, TEXAS AND
JET WORKS AIR CENTER MANAGEMENT, LLC FOR THE PROPERTY LOCATED AT
5035 WARBIRD DRIVE, DENTON ENTERPRISE AIRPORT, AS AUTHORIZED BY THE
UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF TEXAS,
FORT WORTH DIVISION, IN CASE NO. 12- 46776 -RFN FOR THE SALE OF ALL ASSETS
OF JET WORKS AIR CENTER MANAGEMENT, LLC TO GREENPOINT AEROSPACE
CORPORATION; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, on December 1, 2004, the City of Denton, Texas (hereinafter the "City ")
entered into that certain Airport Lease Agreement (hereinafter the "Agreement ") with Jet Works
Air Center Management, LLC to lease property located at 5035 Warbird Drive, Denton, Texas as
approved by Ordinance 2004 -362 as subsequently amended, which documents are on file in the
Office of the City Secretary and are wholly incorporated herein; and
WHEREAS, on September 11, 2013, the City received a request from Jet Works Air
Center Management, LLC to consider a Lease Assignment of Commercial Operators Lease at
Denton Enterprise Airport to Greenpoint Aerospace Corporation, said request is attached hereto
and incorporated herein as Attachment A; and
WHEREAS, the United States Bankruptcy Court for the Northern District Of Texas, Fort
Worth Division, in Case No. 12- 46776 -RFN has authorized the sale of all assets of Jet Works Air
Center Management, LLC to Greenpoint Aerospace Corporation; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON, TEXAS HEREBY ORDAINS:
SECTION 1. The City Council hereby authorizes and approves the transfer of an Airport
Lease Agreement approved by Ordinance 2004 -362 on December 1, 2004 and subsequently
amended between the City of Denton, Texas and Jet Works Air Center Management, LLC for
the property located at 5035 Warbird Drive, Denton Enterprise Airport, as authorized by the
United States Bankruptcy Court for the Northern District of Texas, Fort Worth Division, in Case
No. 12- 46776 -RFN for the sale of all assets of Jet Works Air Center Management, LLC to
Greenpoint Aerospace Corporation.
SECTION 2. This ordinance shall become effective immediately upon its passage and
approval.
Y ��... �� ..._.. 2013.
PASSED AND APPROVED this the _ day of �
MAM' A. BURROU±,IHS MAYOR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY. ..r
APPROVED AS TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
Page 2
Attachment A
LEASE ASSIGNMENT OF
COMMERCIAL OPERATORS LEASE AT
DENTON ENTERPRISE AIRPORT
DATE: September 11, 2013
ASSIGNOR: Jet Works Air Center Management, LLC
ASSIGNEE: Greenpoint Aerospace Corporation
LEASE: Date: December 1, 2004
Landlord: City of Denton, Texas
Tenant: Jet Works Air Center Management, LLC
Premises: Approximately 4.4 acres of land located at 5035 Warbird Drive,
Denton, TX 76207.
Assignor assigns to Assignee Tenant's interest in the lease.
A. Assignee Agrees To:
1. Assume Assignor's Obligations under the lease at time of closing.
2. Accept the premises in their present "as is" condition.
3. Complete all obligations of purchase from Assignor prior to this
assignment becoming effective.
Landlord consents to this assignment. Landlord agrees to notify Assignor within 30 days
of any Assignee default and to notify Assignee in the event of Assignor's default.
B. Assignor agrees as a condition of Landlord's consent to this Assignment that:
1. Assignor will pay the Landlord a $500 transfer fee.
PREVIOUS ASSIGNMENTS: Jet Works Aviation, Inc. to Jet Works Management, LLC
Original Date of Lease: between City of Denton and Jet Works Aviation, Inc. December
1, 2004
For Jet
Managerne t, T,,,LC, Assignor
RM
Fq),"'Greeplfvint Aerospace Corporation, Assignee
- - - - - - -------------- . . . .... ........... . . . .... . . ..................... . .
('."ollseflt:
"S"I ity of I)C1,110 'La ndl(gdG(,orge Campbell, City Manager
IM14. GARTH D. . SHIPLEY
NOtOfY Nbft, SWO O'f TOXOS
MY commissw Explyes
June '13, 2016
APPROVED AS TO FORM:
CITY ATTORNEY
CITY OF DENTON, TEXAS
BY x :
2