2014-046\ \CODAD\Departments \Legal \Our Documents \Ordinances \14\First Amendment 4862 Lockheed D. Smith.doc
*RDINANCE NO. 2014-04T
AN ORDINANCE APPROVING A FIRST AMENDMENT TO AN OPERATOR AIRPORT
LEASE AGREEMENT BETWEEN THE CITY OF DENTON, TEXAS AND DAVID SMITH
FOR ASSIGNMENT TO DAVID A. SHULMAN; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, on March 6, 2012, the City of Denton, Texas (hereinafter the "City ")
entered into that certain Airport Lease Agreement (hereinafter the "Agreement ") with David
Smith to lease property located at 4862 Lockheed, Denton, Texas as approved by Ordinance
2012 -055 as subsequently amended; and
WHEREAS, on January 10, 2014, the City received a request from David Smith to
consider a Lease Assignment of property at Denton Airport to David A. Shulman; and
WHEREAS, certain amendments to the Airport Lease Agreement in substantially the
form attached hereto and made a part hereof (hereinafter the "Amendment ") are necessary to
effect a transfer to David A. Shulman; and
WHEREAS, at a meeting on February 4, 2014, the City of Denton Council Airport
Committee recommended approval of said Amendment; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON, TEXAS HEREBY ORDAINS:
SECTION 1. The City Manager or his designee is hereby authorized to execute an
Amendment of the Airport Lease Agreement between the City and David Smith to assign the
Agreement to David A. Shulman in substantially the form of the Amendment which is attached
to and made a part of this ordinance for all purposes.
SECTION 2. This ordinance shall become effective immediately upon its passage and
approval.
PASSED AND APPROVED this the day of jam_
2014.
MARK A. [31),16R "6UGHS, MAYOR
ATTEST:
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ANITA BURGESS, CITY ATTORNEY
BY:
FIRST AMENDMENT TO THE AIRPORT LEASE AGREEMENT
WITH DAVID SMITH FOR 4862 LOCKHEED, DENTON, TEXAS
STATE OF TEXAS
§ KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF DENTON §
This First Amendment is made and executed to be effective as of the 18th day of
February, 2014 to that certain Airport Lease Agreement between the City of Denton, Texas, a
municipal corporation, hereinafter referred to as "Lessor" and David Smith, hereinafter referred
to as "Lessee" which was executed to be effective as of the 6th day of March 2012, hereinafter
referred to as "Base Lease ".
WITNESSETH:
WHEREAS, the Lessor and Lessee wish to amend the Base Lease to transfer ownership
of the Base Lease to David A. Shulman and to make certain other changes to the Base Lease;
NOW, THEREFORE, for and in consideration of the promises and the mutual covenants
contained in this Agreement, the parties agree to amend the Base Lease as follows:
SECTION 1. David Smith as original Lessee hereby assigns all of Lessee's rights and
responsibilities associated with the Base Lease to David A. Shulman as Lessee of record.
SECTION 2. David A. Shulman assumes Lessee's rights and responsibilities associated
with the Base Lease for property at Denton Enterprise Airport.
SECTION 3. Section III. "Term" is hereby amended as follows:
III. TERM
The term of this Agreement which was originally ror a period of twenty (20) years
commencing on the 6t" day of March 2012, is amended effective FcbrUary 18, 2013 to be for a
term of twenty (22) years and one (1) month continuing through the 14 "' day of March 2034.
SECTION 4. Save and except as amended hereby, all the remaining clauses, sentences,
paragraphs, sections and subsections of the Base Lease shall remain in full force and effect and
shall fully apply to the additional property and improvements and expanded Leased Premises
resulting from this First Amendment of the Base Lease.
IN WITNESS WHEREOF, the parties have executed this Lease Agreement as of the
effective date first above written.
CITY OF DENTON, TEXAS, LESSOR
wm
BY:
( 0R(',E C. CAMPBELL CITY MANAGER
Page 1 of 3
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
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Assignor
BY- ,
DAVID SMITH
Assignee
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ID A. SI IUL fi I
Page 2 of 3
ACKNOWLEDGMENTS
THE STATE OF TEXAS
COUNTY OF DENTON §
This instrument was acknowledged before me on tl ° , clay of ., 2014, by
George C. Campbell, City Manager of the City of Denton, Texas, on behalf `of said n-i cipality.
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`I AVY , BLIC, STAYEOF TEXAS
THE STATE OF TEXAS
COUNTY OF DENTON
THE STATE OF TEXAS §
COUNTY OF DENTON §
This instrument was acknowledged before me on the day of i " � � L " - 2014 by
David A. Shulman.
l
N( 1'ARY PUBLIC, STATE OF TEXAS
Page 3 of 3
LEASE ASSIGNMENT OF PAD SITE AT DENTON ENTERPRISE AIRPORI
XVOW11 AS 4862 LOCKHEED
DATE: January 10, 2014
ASSIGNOR: David Smith
ASSIGNEE: David A. Shulman
LEASE ASSIGNMENT:
Date: February 18, 2014
Landlord: City of Denton
Tenant: David Smith
Assignor assigns to Assignee Tenant's interest in the lease.
A. Assignee Agrees To:
1. Assume Tenant's Obligations under the lease.
2. Accept the premises in their present "as is" condition.
3. Complete all obligations of purchase from Assignor prior to this assignment
becoming effective.
B. Landlord consents to this assignment:
1. Landlord agrees that provisions of this Lease Agreement shall transfer solely to
Assignee upon approval of assignment by Landlord.
2. Landlord agrees to extend the term of the Lease Agreement from March 14, 2032
to March 14, 2034.
C. Assignor agrees that:
1. Assignor confirms that the land lease and hangar ownership with respect to the
property at 4862 Lockheed is to be transferred to David A. Shulman upon approval
of Landlord.
2. Assignor will pay or will cause the Assignee to pay to Landlord a $500 transfer fee.
PREVIOUS ASSIGNMENTS:
Original Date of Lease: March 6, 2012 between City of Denton and David Smith
Assignor:
r
David Smith
Assignee:
David A. Shulman
Consent by City of Denton, Landlord:
George C. Campbell, City Manager