2014-047\ \CODAD \Departments \Legal \Our Documents \Ordinances \14 \Nebrig Estoppel Ord.docx
ORDINANCE NO. 2014 -047
AN ORDINANCE OF THE CITY OF DENTON, TEXAS APPROVING AN ESTOPPEL
CERTIFICATE TO INWOOD NATIONAL BANK AND NEBRIG PROPERTIES, L.P. FOR A
HANGAR LOCATED AT 4650 JOHN CARRELL RD AT DENTON ENTERPRISE
AIRPORT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, on April 17, 2001 the City of Denton, Texas (hereinafter the "City) entered
into that certain Airport Lease Agreement with Triangle Aviation, Inc. (TRIANGLE) for
property located at 4650 John Carrel Rd at Denton Airport (` Leasd); and
WHEREAS, on January 17, 2006 the City approved an assignment of the Lease from
TRIANGLE to Charles N. Davis III; and
WHEREAS, on October 21, 2008 the City approved an assignment of the Lease from
Charles N. Davis, III to Nebrig Properties, L.P.; and
WHEREAS, Nebrig Properties, LP has requested the City to enter into a Lease Estoppel
Agreement (`Lease Estoppel) with it and Inwood National Bank (`I,1WOOD) to facilitate the
financing of a mortgage loan to Nebrig Properties, L.P. under the Lease; and
WHEREAS, the City Council deems it in the public interest to enter into a Lease
Estoppel with INWOOD and Nebrig Properties, L.P. which will amend the Lease and will
further facilitate the financing of a mortgage loan to Nebrig Properties, LP. under the Lease;
NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The City Manager or his designee is hereby authorized and directed to
execute a Lease Estoppel between the City of Denton, INWOOD and Nebrig Properties, L.P. in
substantially the form of the Lease Estoppel, which is attached hereto 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 2014.
MARIA A. Bl?1 ItOU S, MAYOR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY ' f
j
APPROVED AS TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY. All
Page 2
nEcoeoAnow REQUESTED BY:
INWOOD NATIONAL BANK
721mWOOD ROAD
DALLAS,TX 75209
WHEN RECORDED MAIL TO:
mWOoNATmNAL BANK
no,/wwuuoROAD
oxLum.rxr5ooy
SEND TAX NOTICES TO:
wsaoIG PROPERTIES, L
4801 JOHN CARRELL ROAD
DENTON, TX 76207 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
THIS LANDLORD'S ESTOPPEL CERTIFICATE dated November 5, 2013,umade and executed amongwEBRIG
PROPERTIES, L P, whose address is 4801 umom nAmesu eomm, oEmrom.Tx 76207 ("Grantor"); /mwoom
NATIONAL BANK, rsu1/wWoom ROAD, DALLAS, rx rsouw(^Lenmer1;and
("Landlord").
Grantor and Lender have entered into, °, are about m enter 'm".n"."u"/o`"""*/"""m"���"^= has "�"/�^",�n=""/�°°"""m,
mm°m",m^�n°"°"s="mm/°a�^m*/"�°*mm=p�p�y described below.
m induce Lender m extend one = more loans ", other financial accommodations m Grantor against such security interest m the Property and
for other valuable consideration, with knowledge that Lender /" relying thereon, Landlord and Grantor hereby agree with Lender =follows:
THE LEASE. Landlord has ]eased the Property m Grantor pursuant m° lease (the ^*a"e" dated April ,r.zvv1 The following information /""
summary * the basic terms and conditions ", the Lease: THAT CERTAIN AIRPORT LEASE AGREEMENT COMMERCIAL OPERATOR WHICH
WAS MADE AND EXECUTED owAPRIL 17, 2001 xroswrow.rsua BY AND BETWEEN THE CITY OF oswrow rcmS' ^wvn/c/r^L
coRpo�vmw AND MR. JOHN BROWN, ppEnmswrup TRIANGLE �I�/ww INC; i�En^avwwsorown cx�nLEnmDAVIS, m ON
J^w^u^x,,r�2noo^w�WHICH Ls^o�vw�AGAIN ASSIGNED romsame�nupEpr/su.L.p ow OCTOBER �2.znvv.
REAL PROPERTY DESCRIPTION. The Lease covers the following described real property, together with all improvements thereon (the "Real
pro=x/'> located moswrnw County, State mTexas:
GRANTOR'S LEASEHOLD INTEREST /w THAT CERTAIN LEASE DATED APRIL 1r.zvm BETWEEN GRANTOR AND THE CITY oroswrow
TEXAS ow THE PROPERTY MORE FULLY DESCRIBED /w THE ATTACHED EXHIBIT '^' WHICH /s ATTACHED AND MADE PART n,THIS
LEASEHOLD DEED or TRUST xa FULLY SET FORTH HEREIN.
The Real Property ", its address .° commonly known = 400v JOHN CARRELL no. oswmw.rx rozor-
senoppsL. Landlord and Grantor hereby jointly and severally represent and warrant to Lender that:
Lease m Effect. The Lease o has been duly executed and accepted Landlord and Grantor, ovmm full force and effect, and wv has not
been modified ", changed, either m writing ", orally, except = reflected m the copy m the Lease provided mLender.
w" Default. *"w the date of this Certificate, m all conditions and obligations mbe performed u either Landlord o, Grantor under the
Lease, the date ^ ^=°been s~u�eo; vvme�"`/"�""»�°�,ve�"u.",~~",","""uw""°*.*,m°y.mam"�=e",m°
,"°��wum° =^m^ ~""m""".m""=�"^�°�",v=m"x under �=u��;and wvm°=°�=°w�"sw°/m° defenses or
m��°°nam���g°^/o"�me�=,'""momo,s�"m, under m"/��.mu"m"oany ao"m��"�due ",mu°�m° due ""�",the terms
mm. Lease-
Entire ^m°~m°m. The Lease constitutes the entire agreement between Landlord and Grantor with respect m the Lease of the Property.
w" Prepaid Rent w" deposits °, prepayments w rent have been made m connection with the Lease, except °" may b° described above m
the summary description w the Lease.
AGREEMENTS. Landlord and Grantor hereby jointly and severally agree with Lender that, during all such times "° Lender /° the beneficiary ",
the security interest m the Property described above:
Modification, Termination and Cancellation. Landlord and Grantor will not consent m any modification, termination ", cancellation mthe
Lease unless Lender first consents thereto m writing-
Notice mom""lt. Landlord will notify Lender m writing concurrently with any notice given m Grantor m any breach o, default ""the =x
of Grantor under the Lease, and La"w"m agrees that Lender shall have the nom (^"' not the "oneati=) t" cure any breach or default
specified in such notice within the time periods set forth below and L""m"mwill not declare ° default w the Lease, n Lender cures such
default within thirty mv days from and after pi=v w the time period provided mthe Lease for the cure thereof u, Grantor; provided,
however. that n such default cannot with diligence u" cured by Lender within such thirty mm day period, the commencement a action *
Lender within such thirty (av` day period '" remedy the same shall bedeemed sufficient "" long "" Lender pursues such cure with
vmo°"ce.
MISCELLANEOUS PROVISIONS. This Certificate shall extend * and bind the respective heirs, personal representatives, successors and assigns
* the parties m this Certificate. This Certificate °h"xbe governed by and construed m accordance with the laws m the State m Texas. n
Landlord /" other than ""individual, any agent or other person executing this Certificate on behalf of Landlord represents and warrants to Lender
that he or she has full power and authority to execute this Certificate on Landlord's behalf Lender shall not be deemed to have waived any
rights under this Certificate unless such waiver is in writing and signed by Lender. No delay or omission on the part of Lender in exercising any
right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Certificate shall not constitute a waiver
of or prejudice Lender's right otherwise to demand strict compliance with that provision or any other provision-
on*wmR^wo mwo/omo EACH ACKNOWLEDGE xm^wo READ ALL THE p^mnammu OF THIS u^woLono's sSToppeL xspnncmE.
AND EACH AGREES ro ITS TERMS. THIS CERTIFICATE m DATED wovsmesnn.u",x.
GRAw,ox.
wsomopnopsensS, L
mewcvmcorporated
Date .
Date
LANDLORD'S ESTOPPEL CERTIFICATE
Loan No: 104404348 (Continued) Page 2
LENDER:
NATIONAL BANK
ricer L -7' Date
PARTNERSHIP ACKNOWLEDGMENT
STATE OF
SS
COUNTY 0 A
This instrument was acknowledged before me .. b- f-- j -�� 20 David Michael Nebrig, President of
Drewcy Incorporated, General =gLot a part er on behalf of NEBRIG PROPERTIES, L P, a partnership
JOAN M. DAVIS
tily Commission Expires
Mey 16, 2014 r
r n c'
yF6bI7i State of Texas
19T "t—nk #M
STATE OF
) SS
COUNTY OF
This instrument was acknowledged before me on --.20 by
(a) partner(s) on behalf of a parinursh4,.
Notary Public, State of I exas
LENDER ACKNOWLEDGMENT
STATE OF f14 a
) SS
COUNTY OF
a ledge(i e.fore rne this day of 20 14- by
as of INWOOD NATIONAL BANK. 0
My Comm' n Tres
i , axes May t6,
LASER PRO Lending, Vei. 133.0.024 Copi. Harland Financial Solutions, Inc. 1997, 2013. All Rights Reserved - TX H:\CFI\LPL\G208 FC
TR-23217 PR-36