2000-290 O INANCE NO
AN ORDINANCE AUTHORIZING THE CITY MANAGER TO EXECUTE AN
ASSIGNMENT AND ASSUMPTION AGREEMENT BETWEEN NEBRIG & ASSOCIATES,
NEBRI_Q PROPERTIES, L P, AND THE CITY OF DENTON WHICH ASSIGNS AN
AIRPORT LEASE AGREEMENT, AND PROVIDING AN EFFECTIVE DATE
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
SECTION 1 The City Manager is authorized to execute an Assigmnent and Assumption
Agreement between Nebng & Assocmtes ("Assignor"), NEIBRIG PROPERTIES, L P, a Texas
limited partnerstup ("Assignee"), and the C~ty of Denton ("Landlord"), which is attached hereto
and mad~ a part hereof
SECTION 2 Th~s ordinance will anthonze the Assignor to assign, transfer, set over, and
deliver to Assignee all of Asmgnor's right, title and interest In and to the Lease dated September
23, 1996, as mended by a First Amendment dated February 18, 1997 and a Second Amendment
dated October 5, 1999, wherein Assignor agreed to lease certmn real property from Landlord at
the Denton Mummpal Airport
SECTION 3 Thru ordinance shall become effective ~mmedlately upon ~ts passage and
approval
PASSED A ,APPROVEDth, sthe e¢ dayof ,2000
EULINE BROCK, MAYOR
ATTEST
JENNIFER WALTERS, CITY SECRETARY
APPROVED AS TO :LEGAL FORSfl[
HERBERT L Y
By ~RNE
ASSIGNMENT AND ASSUMPTION AGREEMENT
THIoS.,~A~S_S.I~N~/I~ENT AND ASSUMPTION AGREEMENT ,s dated the ~ day of
_ .q_~c,r~'t47~ , 2000 by and between Nebn.,g, & Ass_o,c, iates ("Assignor"), NEBRIG
PROI~ERTIES, L P, a Texas hmlted artnersht
("Landlord") P P ( Assignee ), and the City of Denton
_Recitals of Fact
A Assignor and Landlord entered into that certain Airport Lease Agreement dated
September 23, 1996, as amended by a First Amendment dated February 18, 1997 and a Second
Amendment dated October 5, 1999 (the "Lease"), wherein Assignor agreed to lease certain real
property from Landlord at the Denton Mumclpal Airport, as more particularly described in the
Lease
B Assignor desires to assign, transfer, set over, and deliver to Assignee all of
Assignor's right, title, and interest in and to the Lease
Lease C Assignee desires to assume all of Assignor's right, t~tle, and interest in and to the
D Landlord desires to acknowledge, agree to, and consent to the assignment of the
Lease to Assignee
.Agreement
In consideration of the foregoing and other good and valuable consideration, the receipt and
sufficiency ofwhmh is hereby acknowledged, the parties hereby agree as follows
1 Asslm'h*nent Assignor assigns, transfers, sets over and delivers unto Assignee all
of Assignor's right, title, and interest in and to the Lease
2 Acceptance Assignee accepts the foregoing assignment of the Lease and
assumes all duties and obligations of Assignor under the Lease
3 Consent Landlord acknowledges, agrees to, and consents to Assignor's
assignment of the Lease to Assignee
4 .Assignor's Contmmng Obligation This Assignment shall not act to release
Assignor from its obhgatlons under the Lease
5 M~scellaneous This Assignment and Assumption Agreement shall be (a) binding
upon, and inure to the benefit of, the parties to fins Assignment and Assumption Agreement and
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their respectwe heirs, legal representatives, successors and assigns, and (b) construed in
accordance with the laws of the State of Texas
IN WITNESS WHEREOF, this Assignment and Assumphon Agreement has been s~gned
and dehvered by the parhes as of the date first above written
ASSIGNOR
NEBRIG & ASSOCIATES
ASSIGNEE
NEBRIG PROPERTIES, L P
BY DREWCY, 1NC
David Mmhael Nebng J
President /
LANDLORD
_Mlchaelj~ Jez~/ /
C~ty Matiager
APPROVED AS TO LEGAL FORM
Herbert L Prouty, C~ty Attorney
By ~f
Edwin M fn~.er
F~rst Assls~t~ant City Attorney
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