HomeMy WebLinkAboutContract 26680co�v RACT � � ?( �U
FORT WORTH MEACHAM INTERNATIONAL AIRPORT
GROUND LEASE AGREEMENT
WITH MANDATORY IMPROVEMENTS
(HANGARS 21N AND 311�
This GROiTND LEASE AGREEMENT ("Lease") is made and entered into by and
between the CITY OF FORT WORTH ("Lessor"), a home rule municipal corporation organized
under the laws of the State of Texas acting by and through its duly authorized Assistant City
Manager, and TEXAS JET, INC. ("Lessee"), a Texas corporation acting by and through Reed
Pigman, Jr., its duly authorized President.
The following introductory provisions are true and correct and form the basis of this Lease:
A. Lessor and TAB Services, Inc. previously entered into City Secretary Contract
("CSC") No. 10048, a lease of approximately 78,105 square feet of unimproved land (the
"Premises") at Fort Worth Meacham International Airport ("Airport"). TAB then constructed an
aircraft hangar, known as Hangar 21N, on the Premises. Lessor took full title to Hangar 21N upon
its completion.
B. CSC No. 10048 was subsequently assigned to Lessee pursuant to CSC No. 17380
and amended in part by CSC No. 17672.
' C. Lessee now wishes to construct an additional aircraft hangar on the Premises.
Because CSC No. 10048 is due to expire on September 30, 2004, Lessee wishes to terminate CSC
No. 10048 and enter into a new lease with a term that will allow Lessee to amortize its additional
investment on the Premises. Lessor is willing to consent to Lessee's request only on the terms and
conditions set forth in this Lease, and Lessee is willing to accept the terms and conditions set forth
in this Lease.
NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, Lessor and Lessee agree as follows:
1. TERMINATION OF CSC NO. 10048.
CSC No. 10048, as assigned and amended (collectively the "Previous Lease"), is hereby
terminated contemporaneously with the execution of this Lease. However, such termination shall
not constitute (i) a release by Lessor of any liability of Lessee or obligation of Lessee to indemnify
Lessor accruing under the Previous Lease or (ii) a waiver of one party to enforce any unperformed
duties or obligations of the other under the Previous Lease. Article VII,B of CSC No. 10048 shall
specifically survive termination of the Previous Lease.
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2. PROPERTY LEASED.
Lessor hereby demises to Lessee 78,105 square feet of improved land at the Airport known
as the Hangar 21N and 31N lease site, as shown on Exhibit ��A", attached hereto and hereby made
a part of this Lease for all purposes. This improved land is the same land leased to Lessee under the
Previous Lease. Exhibit "A" specifically delineates, among other things, Hangar 21N; the
improved land surrounding Hangar 21N; and the improved land comprising the Hangar 31N lease
site, on which Hangar 31N will be built in accordance with Section 6.1 of this Lease. Unless
otherwise specifically noted, all of the land comprising the Hangar 21N and 31N lease site shall
collectively be referred to as the "Premises" in this Lease.
3. TERM OF LEASE.
3.1. Initial Term.
The "Initial Term" of this Lease shall commence on the date of its execution
("Effective Date") and expire at 11:59 P.M. on September 30, 2030, unless (i) terminated
earlier as provided herein or (ii) Lessee fails to diligently commence construction of the
Mandatory Improvements, as defined and set forth in Section 6.1, within six (6) months
following the Effective Date, in which case the Initial Term shall expire at 11:59 P.M. on
September 30, 2009 without any renewal right as provided in Section 3.2.
� 3.2 Renewals.
If Lessee performs and abides by all provisions and conditions of this Lease, upon
expiration of the Initial Term of this Lease, Lessee shall have two (2) consecutive rights of
first refusal to renew this Lease for two (2) additional successive terms of five (5) years each
(each a"Renewal Term") at rental rates which, on the effective date of a Renewal Term,
comply with Lessor's Schedule of Rates and Charges or similarly published schedule as to
aircraft hangar space and improved land at the Airport, and on other terms and conditions
that may be prescribed by Lessor at the time; provided, however, that if Lessee does not
accordingly renew this Lease in writing for a first Renewal Term, Lessee will forgo its right
of first refusal to lease the Premises for a second Renewal Term. In order to exercise its
rights of first refusal to renew this Lease, Lessee shall notify the City in writing of its desire
to renew this Lease no less than one hundred twenty (120) days and no more than one
hundred eighty (180) days prior to the expiration of the term then in effect.
3.3. Holdover.
If Lessee holds over after the expiration of the Initial Term or any Renewal Term,
this action will create a month-to-month tenancy. In this event, for and during the holdover
period, Lessee agrees to pay all applicable rentals, fees and charges at the rates provided by
Lessor's Schedule of Rates and Charges or similarly published schedule in e_ffect at the time.
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4. RENT.
4.1. Han�ar 21N.
4.1.1. Between Effective Date and September 30, 2009.
4.1.1.1. From the Effective Date of this Lease until September 30, 2004,
Lessee shall pay Lessor as annual rent for the portion of the Premises
comprising Hangar 21N a sum equal to (i) the square footage of Hangar 21N
multiplied by (ii) $0.19 per square foot, which is equal to the unimproved
ground rental rate at the Airport in effect on the Effective Date of this Lease
and is the rate that was guaranteed to Lessee for that time period under the
Previous Lease. In the event that the Effective Date of this Lease is a day
other than the first (lst) day of a respective month, the first month's rental
payment shall be prorated in accordance with the number of days remaining
in that month.
4.1.1.2. From October 1, 2004 until September 30, 2009, Lessee shall pay
Lessor as annual rent for the portion of the Premises comprising Hangar 21N
a sum equal to (i) the square footage of Hangar 21N multiplied by (ii) the
unimproved ground rental rate at the Airport in effect on October 1, 2004,
which is the rate that was guaranteed to Lessee for that time period under the
Previous Lease.
4.1.2. Between October 1, 2009 and September 30, 2010.
From October 1, 2009 until September 30, 2010, annual rent for Hangar
21N shall be adjusted to equal (i) the square footage of Hangar 21N multiplied by
(ii) the hangar rate at the Airport in effect on October 1, 2009.
4.1.3. After September 30, 2010.
Beginning October 1, 2010 and on October lst of each year thereafter for
remainder of the Initial Term and during any Renewal Tertn, annual rent shall be
adjusted in accordance with Sections 3.2, 4.3 and 4.4, as appropriate.
4.2. All Portions of the Premises Other than Han�ar 21N.
4.2.1. Between Effective Date and September 30, 2009.
4.1.1.1. From the Effective Date of this Lease until September 30, 2004,
Lessee shall pay Lessor as annual rent for all �ortions_ of the P���� s other
than Han ar 21N i.e. the im roved land surr ut��n � I~�an �, �� �d the
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improved land comprising the Hangar 31N lease site, on which Hangar 31N
will be built in accordance with Section 6.1 of this Lease) a sum equal to (i)
the square footage of such portions of the Premises multiplied by (ii) $0.19
per square foot, which is equal to the unimproved ground rental rate at the
Airport in effect on the Effective Date of this Lease and is the rate that was
guaranteed to Lessee for that time period under the Previous Lease. In the
event that the Effective Date of this Lease is a day other than the first (lst)
day of a respective month, the first month's rental payment shall be prorated
in accordance with the number of days remaining in that month.
4.1.1.2. From October 1, 2004 until September 30, 2009, Lessee shall pay
Lessor as annual rent for all portions of the Premises other than Hangar 21N
a sum equal to (i) the square footage of such portions of the Premises
multiplied by (ii) the unimproved ground rental rate at the Airport in effect
on October 1, 2004, which is the rate that was guaranteed to Lessee for that
time period under the Previous Lease.
4.2.2. Between October 1, 2009 and September 30, 2010.
From October 1, 2009 until September 30, 2010, annual rent for all portions
of the Premises other than Hangar 21N shall be adjusted to equal (i) the
square footage of such portions of the Premises multiplied by (ii) the
improved ground rental rate at the Airport in effect on October 1, 2009.
4.2.3. After Sentember 30, 2010.
Beginning October l, 2010 and on October lst of each year thereafter for
remainder of the Initial Term and during any Renewal Term, annual rent
shall be adjusted in accordance with Sections 3.2, 4.3 and 4.4, as
appropriate.
4.3. Annual Adiustments.
Subject to Section 4.4 of this Lease, the rental rates payable by Lessee pursuant to
Sections 4.1.3 and 4.2.3 shall be subject to increase by Lessor to reflect the upward
percentage change, if any, in the Consumer Price Index for the Dallas/Fort Worth
Metropolitan Area, or similar index, as announced by the United States Department of
Labor or successor agency (i), for the first increase, since the Effective Date of this Lease
and (ii), for each subsequent increase, since the effective date of the last increase; provided,
however, that Lessee's rental rates, as adjusted, shall not at any time exceed the then-current
rates for the same types of property as prescribed by Lessor's Schedule of Rates and
Charges or similarly published schedule in effect at the time.
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4.4. Five-Year Adiustments.
In addition to the rental rate adjustments set forth in Section 4.3 of this Lease, on
October 1, 2011, and every five (5) years thereafter during the Initial Term (i.e. October lst
of 2016, 2021 and 2026), the rental rates payable by Lessee pursuant to Sections 4.1.3 and
4.2.3 shall automatically be adjusted to equal the then-current rates for the same types of
property as prescribed by Lessor's Schedule of Rates and Charges or similarly published
schedule in effect at the time.
4.5. Pavment Dates and Late Fees.
Annual rent under this Lease may be paid in monthly installments. Monthly rent
payments shall be due on or before the first (lst) day of each month. Payments must be
received during normal working hours by the due date at the location for Lessor's Revenue
Office set forth in Section 17. Rent shall be considered past due if Lessor has not received
full payment after the tenth (lOth) day of the month for which payment is due. Without
limiting Lessor's termination rights as provided by this Lease, Lessee shall pay a late
penalty charge assessed by Lessor equal to ten percent (10%) per month on the entire
balance of any overdue rent that Lessee may accrue.
5. DEPOSIT.
` Upon execution of this Lease, Lessee will remit to Lessor a cash deposit equal to one (1)
month's rent ("Deposit"). Thereafter, Lessee shall, at a minimum, maintain the balance of its
Deposit in an amount that is equivalent to one (1) month's rent at that time. However, if
circumstances dictate, Lessor may increase the amount of the Deposit to a reasonable swn in excess
of one (1) month's rent. Lessee will not be entitled to any interest on the Deposit. Lessor may use
the Deposit to cover any of Lessee's obligations under this Lease, such as, by way of example but
without limitation, payment for repairs that are Lessee's responsibility or for the last month's rent.
Unless Lessor terminates this Lease for any breach or default by Lessee, Lessor will refund any
unused portion of the Deposit within thirty (30) days following the date that Lessee vacates the
Premises. Lessee acknowledges and agrees that if Lessor terminates this Lease for any breach or
default by Lessee, Lessor shall be entitled to retain the entire balance of the Deposit as liquidated
damages, and not as a penalty, for administrative costs associated with the termination process.
Lessor and Lessee hereby agree that this amount is a reasonable approximation of the actual
damages that Lessor will incur as a result of the termination process. Assessment of such liquidated
damages shall not serve as a waiver by Lessor to collect any past-due rent or other damages to
which Lessor may be entitled.
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6. CONSTRUCTION AND IMPROVEMENTS.
6.1. Mandatory Improvements.
Lessee covenants and agrees that it shall improve the Premises in accordance with
the time frames, milestones, specifications and other conditions of Exhibit "B", attached
hereto and made a part of this Lease for all purposes. Such improvements shall hereafter be
referred to as "Mandatory Improvements". Lessee shall diligently commence
construction of the Mandatory Improvements within six (6) months following the Effective
Date of this Lease. Lessee shall fully comply with all provisions of this Section 6 in the
performance of any of the Mandatory Improvements. In the event that Lessee requests any
changes to E�ibit "B" and Lessor approves such changes in writing, a revised Exhibit "B"
signed by both Lessor and Lessee shall be attached to and made a part of tlus Lease. Lessor
shall take full title to the Mandatory Improvements upon the issuance of a final certificate of
occupancy for the Mandatory Improvements.
6.2. Discretionary Improvements.
Lessee may, at its sole discretion, perform modifications, renovations or
improvements on the Fremises in addition to those required by Section 6.1 ("Discretionary
Improvements"). However, Lessee may not initiate any kind of Discretionary
Improvement unless it first submits all plans, specifications and estimates for the costs of
the proposed work in writing and also requests and receives in writing approval from the
Aviation Department Director or authorized representative ("Director"). Lessee covenants
and agrees that it shall fully comply with all provisions of this Section 6 in the performance
of any Discretionary Improvements. Lessor shall take full title to any Discretionary
Improvements on the Premises upon the issuance of a certificate of occupancy for such
improvements or, if a certificate of occupancy is not required for any given Discretionary
Improvement, upon acceptance in writing by Lessor of such Discretionary Improvement.
6.3. Process for Approval of Plans.
Lessee's plans for construction and improvements shall conform to the Airport's
architectural standards and must also receive written approval from the City's Departments
of Development, Engineering and TransportationlPublic Works. All plans, specifications
and work shall conform to all federal, state and local laws, ordinances, rules and regulations
in force at the time that the plans are presented for review.
6.4. Documents.
Lessee shall supply the Director with comprehensive sets of documentation relative
to any modification, renovation, construction or improvement, including, at a minimum, as-
built drawings of each project. As-built drawings shall be new dra �s�o� ��tl�r�h�rg�
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to drawings previously provided to the Director. Lessee shall supply the textual
documentation in computer format as requested by Lessor.
6.5. Bonds Required of Lessee.
Prior to the commencement of any Mandatory or Discretionary Improvement,
Lessee shall deliver to Lessor a bond, executed by a corporate surety in accordance with
Texas Government Code, Chapter 2253, as amended, in the full amount of each
construction contract or project. The bonds shall guarantee (i) satisfactory compliance by
Lessee with all requirements, terms and conditions of this Lease, including, but not limited
to, the satisfactory completion of the respective modifications, renovations, construction
projects or improvements, and (ii) full payments to all persons, firms, corporations or other
entities with whom Lessee has a direct relationship for the performance of such
modifications, renovations, construction projects or improvements.
In lieu of the required bond, Lessee may provide Lessor with a cash deposit or an
assignment of a certificate of deposit in an amount equal to one hundred twenty-five percent
(125%) of the full amount of each construction contract or project. If Lessee makes a cash
deposit, Lessee shall not be entitled to any interest earned thereon. Certificates of deposit
shall be from a financial institution in the Dallas/Fort Worth Metropolitan Area which is
insured by the Federal Deposit Insurance Corporation and acceptable to Lessor. The
interest earned on the certificate of deposit shall be the property of Lessee and Lessor shall
have no rights in such interest. If Lessee fails to complete the respective modifications,
renovations, construction projects or improvements, or if claims are filed by third parties on
grounds relating to such modifications, renovations, construction projects or improvements,
Lessor shall be entitled to draw down the full amount of Lessee's cash deposit or certificate
of deposit.
6.6. Bonds Required of Lessee's Contractors.
Prior to the commencement of any modification, renovation, improvement or new
construction, Lessee's respective contractor shall execute and deliver to Lessee surety
performance and payment bonds in accordance with the Texas Government Code, Chapter
2253, as amended, to cover the costs of all work performed under such contractor's contract
for such modifications, renovations, improvements or new construction. Lessee shall
provide Lessor with copies of such bonds prior to the commencement of such
modifications, renovations, improvements or new construction. The bonds shall guarantee
(i) the faithful performance and completion of all construction work in accordance with the
final plans and specifications as approved by the City and (ii) full payment for all wages for
labor and services and of all bills for materials, supplies and equipment used in the
performance of the construction contract. Such bonds shall name to both Lessor and Lessee
as dual obligees. If Lessee serves as its own contractor, Section 6.5 shall apply.
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6.7. Releases bv Lessor Upon Comnletion of Construction Work.
Lessor will allow Lessee a dollar-for-dollar reimbursement from its cash deposit
account or reduction of its claim upon Lessor's certificate of deposit upon (i), where Lessee
serves as its own contractor, verification that Lessee has completed construction work or
(ii), where Lessee uses a contractor, receipt of the contractor's invoice and verification that
the contractor has completed its work and released Lessee to the extent of Lessee's payment
for such work, including bills paid, affidavits and waivers of liens.
7. UTILITIES.
Lessee shall be responsible for all costs and expenses associated with the use, extension,
installation, maintenance or repair of any and all utilities serving the Premises, including, but not
limited to, water, sanitary sewer, electric, gas and telephone utilities. In addition, Lessee agrees that
all utilities, air conditioning and heating equipment and other electrically-operated equipment which
may be used on the Premises shall fully comply with Lessor's Mechanical, Electrical, Plumbing,
Building and Fire Codes, as they exist or may hereafter be amended ("Codes").
8. MAINTENANCE AND REPAIRS.
8.1. Maintenance and Repairs bv Lessee.
Lessee agrees to keep and maintain the Premises in a good, clean and sanitary
condition at all times. Lessee covenants and agrees that it will not make or suffer any waste
of the Premises. Lessee will, at Lessee's sole cost and expense, make all repairs necessary
to prevent the deterioration in condition or value of the Premises, including, but not limited
to, the maintenance of and repairs to all structures, including, but not limited to, doors,
windows and roofs, and all fixtures, equipment, modifications and pavement on the
Premises. Lessee shall be responsible for all damages caused by Lessee, its agents,
servants, employees, contractors, subcontractors, licensees or invitees, and Lessee agrees to
fully repair or otherwise cure all such damages at Lessee's sole cost and expense.
Lessee agrees that all improvements, trade fixtures, furnishings, equipment and
other personal property of every kind or description which may at any time be on the
Premises shall be at Lessee's sole risk or at the sole risk of those claiming under Lessee.
Lessor shall not be liable for any damage to such property or loss suffered by Lessee's
business or business operations, which may be caused by the bursting, overflowing or
leaking of sewer or steam pipes, from water from any source whatsoever, or from any
heating fixtures, plumbing fixtures, electric wires, noise, gas or odors, or from causes of any
other matter.
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8.2. Inspection.
8.2.1. Lessor shall have the right and privilege, through its officers, agents,
servants or employees, to inspect the Premises for any reason. Except in the event
of an emergency, Lessor shall conduct its inspections during Lessee's ordinary
business hours and shall use its best efforts to provide Lessee at least two (2) hours
notice prior to the inspection.
8.2.2. If Lessor determines during an inspection of the Premises that Lessee is
responsible under this Lease for any maintenance or repairs, Lessor shall notify
Lessee in writing. Lessee agrees to initiate such maintenance or repair work
diligently within thirty (30) calendar days following receipt of such notice and to
then complete such maintenance or repair work within a reasonable time,
considering the nature of the work to be done. If Lessee fails to initiate the
recommended maintenance or repairs within such time or fails to complete the
maintenance or repairs within a reasonable time thereafter, Lessor may, in its
discretion, perform such maintenance or repairs on behalf of Lessee. In this event,
Lessee will reimburse Lessor for the cost of the maintenance or repairs and Lessor's
time in performing such maintenance or repairs within thirly (30) calendar days of
receipt of an invoice from Lessor.
8.2.3. During any inspection, Lessor may perform any obligations that Lessor is
authorized or required to perform under the terms of this Lease or pursuant to its
governmental duties under federal state or local laws, Codes, rules or regulations.
8.2.4. Lessee will permit the City's Fire Marshal or his or her authorized agents to
inspect the Premises, and Lessee will comply with all requirements of the Fire
Marshal or his or her authorized agents that are necessary to bring the Premises into
compliance with the Code provisions regarding fire safety, as such provisions exist
or may hereafter be amended. Lessee shall maintain in proper condition accessible
fire extinguishers of a number and type approved by the Fire Marshal or his or her
authorized agents for the particular hazard involved.
8.3. Environmental Remediation.
To the best of Lessor's knowledge, the Premises comply with all applicable federal,
state and local environmental laws, regulations and standards. Lessee agrees that it has
inspected the Premises and is fully advised of its own rights without reliance upon any
representation made by Lessor concerning the environmental condition of the Premises.
LESSEE, AT LESSEE'S SOLE COST AND EXPENSE, AGREES THAT IT SHALL
BE FULLY LIABLE AND RESPONSIBLE FOR ANY VIOLATION OF ANY
APPLICABLE FEDERAL, STATE OR LOCAL ENVIRONMENTAL LAWS,
REGULATIONS OR STANDARDS THAT IS CAIISED BYLESSEE, ITS OFFICERS,
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INVITEES AND FOR ANYREQUIRED REMEDIATIDN THEREOF.
9. DAMAGE OR DESTRUCTION TO PREMISES.
In the event of fire or other casualty which damages or destroys all or any part of the
Premises, the following provisions shall apply:
9.1. Covera�e bv Lessee's Insurance.
Lessee's property insurance, as required by Section 13.1 of this Lease, shall be
primary to any insurance on the Premises carried by Lessor and shall be used exclusively to
repair or rebuild the damaged or destroyed portions of the Premises. Lessee shall be
responsible for oversight of all repairs or reconstruction on and to the Premises and shall
repair or rebuild the damaged or destroyed portions of the Premises to the size and standards
that meet or exceed the size and standards of such portions of the Premises prior to the
damage or destruction. All repair and reconstruction activities carried out by or on behalf of
Lessee shall be conducted in accordance with Sections 6.2 through 6.7 of this Lease.
9.2. Premises Uninsured or Underinsured by Lessee.
If Lessee fails to carry adequate property insurance in accordance with Section 13.1
of this Lease, Lessor, at Lessor's sole option, may (i) terminate this Lease upon thirty (30)
days' advance written notice to Lessee or (ii) repair or rebuild the Premises substantially to
its former condition at Lessor's own cost and expense. If Lessor notifies Lessee in writing
within thiriy (30) days following the date of damage or destruction that Lessor intends to
undertake the necessary repairs or reconstruction, and the damage or destruction does not
render the affected portion of the Premises untenable, this Lease shall continue in effect
without any rent abatement whatsoever so long as Lessor diligently commences the repairs
or reconstruction within one hundred eighty (180) days from the date of the damage or
destruction. If the damage or destruction does render the affected portion of the Premises
temporarily untenable, or Lessor does not commence the repairs or reconstruction within
one hundred eighty (180) days from the date of the damage or destruction, then for the
period of time between the date of damage or destruction and the date a certificate of
occupancy is issued for the portion of the Premises that was rendered untenable, rent shall
be proportionally reduced by the amount of square footage rendered untenable. Upon the
issuance of a certificate of occupancy and thereafter, rent shall comply with Lessor's
Schedule of Rates and Charges or similarly published schedule in effect at the time as they
apply to the Premises as improved by Lessor. In other words, if Lessee was paying an
unimproved ground rate and, pursuant to this Section 9.2, Lessor repaired or rebuilt an
aircraft hangar originally constructed by Lessee, then the subsequent rental rate would not
be that for unimproved land, but rather that which applied to similar hangar space at the
Airport at the time.
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10. USE OF PREMISES.
Lessee hereby agrees to use the Premises only for aviation-related purposes that are
acceptable to Lessor. Lessee is hereby pronibited from the provision, without limitation, of the
following concessions: ground transportation for rent or hire, including taxi and limousine service;
food sales; barber and valet services; alcoholic beverage sales; sales of pilot supplies; newsstands;
and gift and other retail shops. However, Lessee may install and operate vending machines on the
Premises for use by Lessee and its employees.
11. SIGNS .
11.1. Aircraft Movement Zone Sign.
Lessee, at Lessee's sole cost and expense, shall install by each doorway inside any
structure on the Premises which permits access to an aircraft movement zone a sign that
indicates that the area outside the doorway is located within an aircraft movement zone.
The Director must improve in writing the wording, size, appearance and location of any
such sign prior to its installation.
11.2. Additional Signs.
Lessee may, at its own expense and with the prior written approval of the Director,
install signs on the Premises that indicate or relate to Lessee's operations on the Premises.
11.3. Maintenance and Removal of Si�ns.
Lessee shall maintain all signs on the Premises in a safe, neat, sightly and physically
good condition. Lessee agrees to pay Lessor for any damage, injury or necessary repairs to
the Premises or other Airport property that results from the installation, maintenance, repair
or removal of any such signs. Lessee also agrees to remove any sign at its own expense
immediately upon receipt of instructions from the Director.
12. RIGHTS AND RESERVATIONS OF LESSOR.
Lessor hereby retains the following rights and reservations:
12.1. Lessor reserves the right to take any action it considers necessary to protect the
aerial approaches of the Airport against obstruction, including, but not limited to, the right
to prevent Lessee from erecting or permitting to be erected any building or other structure
which, in the opinion of Lessor, would limit the useftilness of the Airport, constitute a
21N/31N Ground Lease 11 (�r(�I9 �` p/� p r;p ��`� �;,�
Texas Jet, Inc. � u�I '�G�'�s U«�JG�U
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hazard to aircraft or diminish the capability of existing ar future avigational or navigational
aids used at the Airport.
12.2. Lessor reserves the right to close temporarily the Airport or any of its facilities for
maintenance, improvements, safety or security of either the Airport or the public, or for any
other cause deemed necessary by Lessor. In this event, Lessor shall in no way be liable for
any damages asserted by Lessee, including, but not limited to, damages from an alleged
disruption of Lessee's business operations.
12.3. This Lease shall be subordinate to the provisions of any existing or future agreement
between Lessor and the United States Government which relates to the operation or
maintenance of the Airport and is required as a condition for the expenditure of federal
funds far the development, maintenance or repair of Airport infrastructure.
12.4. During any war or national emergency, Lessor shall have the right to lease any part
of the Airport, including its landing area, to the United States Government. In this event,
any provisions of this instrument which are inconsistent with the provisions of the lease to
the Government shall be suspended. Lessor shall not be liable for any loss or damages
alleged by Lessee as a result of this action. However, nothing in this Lease shall prevent
Lessee from pursuing any rights it may have for reimbursement from the United States
Governinent.
12.5. Lessar covenants and agrees that during the term of this Lease it will operate and
maintain the Airport and its facilities as a public airport consistent with and pursuant to the
Sponsor's Assurances given by Lessor to the United States Government through the Federal
Airport Act. Lessee agrees that this Lease and I,essee's rights and privileges hereunder shall
be subordinate to the Sponsor's Assurances.
12.6. Lessee's rights hereunder shall be subject to all existing and future utility and
drainage easements and rights-of-way granted by Lessor for the installation, maintenance,
inspection, repair or removal of facilities owned or operated by electric, gas, water, sewer,
communication or other utility companies. Lessee's rights shall additionally be subject to
all rights granted by any ordinance or statute which allows utility companies to use publicly
owned property for the provision of utility services.
13. INSURANCE.
13.1. Types of Coverage and Limits.
Lessee shall procure and maintain at all times, in full force and effect, a policy or
policies of insurance as specified in this Section 13, �zamitzg tlze City of Fort Wortlz as afi
additional insured and covering all risks related to the leasing, use, occupancy,
maintenance, existence or location of the Premises. Lessee shall obtain the following
insurance coverage at the limits specified herein: ..�,_ �_ -_�_��q
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21N/31N Ground Lease 12 � ,� -
Texas Jet, Inc. ��u U����L• 4�1 r_',��� +
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Fire and Extended Coverage on all improvements at full replacement cost limit;
• Commercial General Liabili .ty:
$1,000,000 per occurrence,
including products and completed operations;
• Automobile Liabilit,y:
$1,000,000 per accident,
including, but not limited to, coverage on any automobile used in Lessee's operations on
the Premises;
• Han�arkeepers' Le�al Liability:
$1,000,000 per occurrence.
In addition, Lessee shall be responsible for all insurance to construction, improvements,
modifications or renovations to the Premises and for personal property of its own or in its
care, custody or controL
13.2. Adjustments to Required Coverage and Limits.
Insurance requirements, including additional types of coverage and increased limits
on existing coverages, are subject to change at Lessor's option and as necessary to cover
Lessee's operations at the Airport. Lessee will accordingly comply with such new
requirements within thirty (30) days following notice to Lessee.
13.3. Certificates.
On or prior to the Effective Date, Lessee shall furnish Lessor with appropriate
certificates of insurance signed by the respective insurance companies as proof that it has
obtained the types and amounts of insurance coverage required herein. Lessee hereby
covenants and agrees that not less than thirty (30) days prior to the expiration of any
insurance policy required hereunder, it shall provide Lessor with a new or renewal
certificate of insurance. In addition, Lessee shall, at Lessor's request, provide Lessor with
evidence that it has maintained such coverage in full force and effect.
21N/31N Ground Lease
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13.4. Additional Requirements.
Lessee shall maintain its insurance with underwriters authorized to do business in
the State of Texas and which are satisfactory to Lessor. The policy or policies of insurance
shall be endorsed to cover all of Lessee's operations at the Airport and to provide that no
material changes in coverage, including, but not limited to, cancellation, termination, non-
renewal or amendment, shall be made without thirty (30) days' prior written notice to
Lessor.
14. INDEPENDENT CONTRACTOR.
It is expressly understood and agreed that Lessee shall operate as an independent contractor
as to all rights and privileges granted herein, and not as an agent, representative or employee of
Lessor. Lessee shall have the exclusive right to control the details of its operations and activities on
the Premises and shall be solely responsible for the acts and omissions of its officers, agents,
servants, employees, contractors, subcontractors, patrons, licensees and invitees. Lessee
acknowledges that the doctrine of f-espondeat sacperior shall not apply as between Lessor and
Lessee, its officers, agents, employees, contractors and subcontractors. Lessee further agrees that
nothing herein shall be construed as the creation of a partnership or joint enterprise between Lessor
and Lessee.
15. INDEMIVIFICATION.
This Section 15 shall survive the expiration or earlier termination of this Lease.
LESSEE HEREBY ASSUMES ALL LIABILITY AND RESPONSIBILITY FOR
PROPERTY LOSS, PROPERTY DAMAGE AND/OR PERSONAL INJURY OF ANY ICIND,
INCLUDING DEATH, TO ANY AND ALL PERSONS, OF ANY KIND OR CHARACTER,
WHETHER REAL OR ASSERTED, ARISING OUT OF OR IN CONNECTION WITH ITS
USE OF OR OPERATIONS ON THE AIRPORT UNDER THIS LEASE OR WITH THE
LEASING, MAINTENANCE, USE, OCCUPANCY, EXISTENCE OR LOCATION OF THE
PREMISES OR ANYIMPROVEMENTS THEREON, EXCEPT TO THE EXTENT CAUSED
BY THE NEGLIGENCE OR INTENTIONAL MISCONDUCT OF LES.SOR, ITS SERVANTS,
AGENTS OR EMPLOYEES.
LESSEE COVENANTS AND AGREES TO, AND DDES HEREBY, INDEMNIFY,
HOLD HARMLESS AND DEFEND LESSOR, ITS OFFICERS, AGENTS, SERVANTS AND
EMPLOYEES, FROM AND AGAINST ANY AND ALL CLAIMS OR LAWSUITS FOR
EITHER PROPERTY DAMAGE OR LOSS (INCLUDING ALLEGED DAMAGE OR LOSS
TO LESSEE'S BUSINESS AND ANYRESULTING LOST PROFITS) AND/OR PERSONAL
INJURY, INCLUDING DEATH, TO ANY AND ALL PERSONS, OF ANY KIND OR
CHARACTER, WHETHER REAL OR ASSERTED, ARISING OU �`���"
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21N/31N Ground Lease 14 { `� 1��l/� �N� � ��rUJ
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CONNECTION WITH THE USE, LEASING, MAINTENANCE, OCCUPANCY, EXISTENCE
OR LOCATION OF THE PREMISES OR ANYIMPROVEMENTS THEREON, EXCEPT TO
THE EXTENT CA USED BY THE NEGLIGENCE OR INTENTIONAL MISCOND UCT OF
LESSOR, ITS SERVANTS, AGENTS OR EMPLOYEES.
LESSEE ASSUMES ALL RESPOl`1SIBILITYAND AGREES TO PAYLESSOR FOR
ANYAND ALL INJURIES OR DAMAGES TO AIRPORT PROPERTY, THE PREMISES OR
ANYIMPROVEMENTS THEREON WHICHARISE OUT OF OR IN CONNECTION WITH
ANY AND ALL ACTS OR OMISSIDNS OF LESSEE, ITS OFFICERS, AGENTS,
EMPLOYEES, CONTRACTORS, SUBCONTRACTORS, LICENSEES OR INVITEES,
EXCEPT TO THE EXTENT CAUSED BY THE NEGLIGENCE OR INTENTIONAL
MISCOND UCT OF LESSOR, ITS SER VANTS, AGENTS OR EMPLOYEES
LESSOR DOES NOT GUARANTEE POLICE PROTECTION TO LESSEE OR ITS
PROPERTY. LESSOR IS OBLIGATED ONLY TO PROVIDE SECURITYADEQUATE TO.
MAINTAIN LESSOR'S CERTIFICATION UNDER FAA REGULATIONS. LESSEE SHALL
COMPLY WITH ALL APPLICABLE REGULATIONS OF THE FAA RELATING TO
AIRPORT SECURITY. LESSEE SHALL PAY ALL FINES IMPOSED BY THE FAA ON
LESSOR OR LESSEE RESULTING FROM LESSEE'S FAILURE TO COMPLY WITH
SUCH FAA REGULATIONS OR TD PREVENT UNAUTHORIZED PERSONS OR PARTIES
FROM THEIR OBTAINING ACCESS TO THE AIR OPERATIONS AREA OF THE
AIRPORT FROM THE PREMISES.
16. TERMINATION.
In addition to termination rights contained elsewhere in this Lease, Lessor shall have the
right to terminate this Lease as follows:
16.1. Failure by Lessee to Pay Rent, Fees or Other Char�es.
If Lessee fails to pay any rent, fees or other charges due under this Lease, Lessor
shall deliver to Lessee a written invoice and notice to pay the invoice within ten (10)
calendar days. If Lessee fails to pay the balance outstanding within such time, Lessor shall
have the right to terminate this Lease irrunediately.
16.2. Breach or Default by Lessee.
If Lessee commits any breach or default, other than Lessee's failure to pay rent,
Lessor shall deliver written notice to Lessee specifying the nature of such breach or default.
Lessee shall have thiriy (30) calendar days following such written notice to cure, adjust or
correct the problem to the standard existing prior to the breach. If Lessee fails to cure the
breach or default within such time period, Lessor shall have the right to terminate this Lease
immediately. -�-� -��- � �- �
21N/31N Ground Lease
Texas Jet, Inc.
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16.3. Lessee's Financial Obli�ations to Lessor upon Termination.
If Lessor terminates this Lease for any breach or default, Lessee shall be liable for
and shall pay to Lessor any past due rent due Lessor far the remainder of the term then in
effect as well as all arrearages of rentals, fees and charges payable hereunder. In no event
shall a reentry onto or reletting of trie Premises by Lessor be construed as an election by
Lessor to forfeit any of its rights under this Lease.
16.4. Ri�hts of Lessor Upon Termination or Expiration.
Upon termination or expiration of this Lease, all rights, powers and privileges
granted to Lessee hereunder shall cease. Lessee shall remain liable to Lessor for any breach
or default under this Lease or other obligation arising prior to the effective date of
termination or expiration. Within twenty (20) days following the effective date of
termination or expiration, Lessee shall remove from the Premises all trade fixtures, tools,
inachinery, equipment, materials and supplies placed on the Premises by Lessee pursuant to
this Lease. After such time, Lessor shall have the right to take full possession of the
Premises, by force if necessary, and to remove any and all parties and property remaining
on any part of the Premises. Lessee agrees that it will assert no claim of any lcind against
Lessor, its agents, servants, employees or representatives, which may stem from Lessor's
termination of this Lease or any act incident to Lessor's assertion of its right to terminate or
Lessor's exercise of any rights granted hereunder.
NOTICES.
Notices required pursuant to the provisions of this Lease shall be conclusively determined
to have been delivered when (i) hand-delivered to the other party, its agents, employees, servants or
representatives, or (ii) deposited in the United States Mail, postage prepaid, addressed as follows:
To LESSOR:
For Rent:
City of Fort Worth
Revenue Office
1000 Throckmorton
Fort Worth, TX 76102
21N/31N Ground Lease 16
Texas Jet, Inc.
For All Other Matters:
Aviation Deparhnent
4201 N. Main Street, Suite 200
Fort Worth, TX 76106-2749
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To LESSEE:
Texas Jet, Inc.
Attn: Reed Pigman, Jr:
Hangar 23N
200 Texas Way
Fort Worth, TX 76106-2782
18. ASSIGNMENT AND SUBLETTING.
18.1. In General.
Lessee shall not assign, sell, convey, sublease or transfer any of its rights, privileges,
duties or interests granted by this Lease without the advance written consent of Lessor,
which consent shall not be unreasonably withheld.
18.2. Conditions of Approved Assignments and Subleases.
If Lessor consents to any assignment or sublease, all terms, covenants and
agreements set forth in this Lease shall apply to the assignee or sublessee, and such assignee
or sublessee shall be bound by the terms and conditions of this Lease the same as if it had
originally executed this Lease. The failure or refusal of Lessor to approve a requested
assignment or sublease shall not relieve Lessee of its obligations hereunder, including
payrnent of rentals, fees and charges.
19. LIENS.
19.1. Liens b.y Lessee.
Lessee acknowledges that it has no authority to engage in any act or to make any
contract which may create or be the foundation for any lien upon the property or interest in
the property of Lessor. If any such purported lien is created or filed, Lessee, at its sole cost
and expense, shall liquidate and discharge the same within thirty (30) calendar days of such
creation or filing. Lessee's failure to discharge any such purported lien shall constitute a
breach of this Lease and Lessor may terminate this Lease upon thirty (30) calendar days'
written notice. However, Lessee's financial obligation to Lessor to liquidate and discharge
such lien shall continue in effect following termination of this Lease and until such a time
as the lien is discharged.
21N/31N Ground Lease
Texas Jet, Inc.
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19.2. Landlord's Lien.
IN ADDITION TO ANY APPLICABLE STATUTORY LANDLORD'S LIEN,
LESSEE GRANTS TO LESSOR, IN ORDER TO SECURE PERFORMANCE BY
LESSEE OF ITS OBLIGATIONS UNDER THIS LEASE, A SECURITY INTEREST
IN ALL GOODS, INVENTORY, EQUIPMENT, FIXTURES, FURNITURE,
IMPROVEMENTS, CHATTEL PAPER, ACCOUNTS AND GENERAL
INTANGIBLES, AND OTHER PERSONAL PROPERTY OF LESSEE NOW OR
HEREAFTER SITUATED ON OR IN THE PREMISES OR OTHERWISE
RELATING TO LESSEE'S USE OF THE PREMISES, AND ALL PROCEEDS
THEREFROM (THE "COLLATERAL'). IF LESSOR TERMINATES THIS LEASE
FOR A FAILURE TO PAY LESSOR RENT OR FOR ANY OTHER BREACH OR
DEFAULT BY LESSEE PURSUANT TO WHICH LESSEE IS FINANCIALLY
OBLIGATED TO LESSOR, THE CITY MAY, IN ADDITION TO ALL OTHER
A YAILABLE REMEDIES, WITHO UT NOTICE OR DEMAND EXCEPT AS
PROVIDED BELOW, EXERCISE THE RIGHTS AFFORDED A SECURED PARTY
UNDER THE TEXAS UNIFORM COMMERCIAL CODE ("UCC'). IN
CONNECTION WITH ANY PUBLIC OR PRIVATE SALE OF ANY COLLATERAL,
LESSOR SHALL GIVE LESSEE FIVE (S) CALENDAR DAYS' PRIOR WRITTEN
N07'ICE OF THE TIME AND PLACE OF ANY PUBLIC SALE OR OF THE TIME
AFTER WHICH ANY PRIYATE SALE OR OTHER INTENDED DISPOSITION
THEREOF IS TO BE MADE, WHICH IS AGREED TO BE A REASONABLE
NOTICE OF SUCH SALE OR DISPOSITION.
20. TAXES AND ASSESSMENTS.
Lessee agrees to pay any and all federal, state or local taxes or assessments which may
lawfiully be levied against Lessee due to Lessee's use or occupancy of the Premises or any
improvements or properiy placed on the Premises by Lessee as a result of its occupancy. Lessee
also agrees to pay any and all federal, state or local taxes or assessments which may lawfully be
levied against Lessor due to Lessee's use or occupancy of the Premises or property placed on the
Premises by Lessee, including, but not limited to, the Mandatory Improvements and any
Discretionary Improvements.
21. COMPLIANCE WITH LAWS, ORDINANCES, RULES AND REGULATIONS.
Lessee covenants and agrees that it shall not engage in any unlawful use of the Premises.
Lessee further agrees that it shall not permit its officers, agents, servants, employees, contractors,
subcontractors, patrons, licensees or invitees to engage in any unlawful use of the Premises and
Lessee immediately shall remove from the Premises any person engaging in such unlawful
activities. Unlawful use of the Premises by Lessee itself shall constitute an immediate breach of
this Lease.
21N/31N Ground Lease
Texas Jet, Inc.
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Lessee agrees to comply with all federal, state and local laws; all Codes, ordinances, rules
and regulations of Lessor; all rules and regulations established by the Director; and all rules and
regulations adopted by the City Council pertaining to the conduct required at airports owned and
operated by the City, as such laws, ordinances, rules and regulations exist or may hereafter be
amended or adopted. If Lessor notifies Lessee or any of its officers, agents, employees, contractors,
subcontractors, licensees or invitees of any violation of such laws, ordinances, rules or regulations,
Lessee shall immediately desist from and correct the violation.
22. NON-DISCRIMINATION COVENANT.
Lessee, for itself, its personal representatives, successors in interest and assigns, as part of
the consideration herein, agrees as a covenant iluining with the land that no person shall be
excluded from participation in or denied the benefits of Lessee's use of the Premises on the basis of
race, color, national origin, religion, handicap, sex, sexual orientation or familial .status. Lessee
further agrees for itself, its personal representatives, successors in interest and assigns that no
person shall be excluded from the provision of any services on or in the construction of any
improvements or alterations to the Premises on grounds of race, color, national origin, religion,
handicap, sex, sexual orientation or familial status.
Lessee agrees to furnish its accommodations and to price its goods and services on a fair
and equal basis to all persons. In addition, Lessee covenants and agrees that it will at all times
comply with any requirements imposed by or pursuant to Title 49 of the Code of Federal
Regulations, Part 21, Non-Discrimination in Federally Assisted Programs of the Department of
Transportation and with any amendments to this regulation which may hereafter be enacted.
If any claim arises from an alleged violation of this non-discrimination covenant by Lessee,
its personal representatives, successors in interest or assigns, Lessee agrees to indemnify Lessor and
hold Lessor hartnless.
23. LICENSES AND PERMITS.
Lessee shall, at its sole expense, obtain and keep in effect all licenses and pertnits necessary
for the operation of its operations at the Airport.
24. GOVERNMENTAL POWERS.
It is understood and agreed that by execution of this Lease, Lessor does not waive or
surrender any of its governmental powers.
21N/31N Ground Lease 19
Texas Jet, Inc.
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25. NO WAIVER.
The failure of Lessor to insist upon the performance of any term or provision of this Lease
or to exercise any right granted herein shall not constitute a waiver of Lessor's right to insist upon
appropriate performance or to assert any such right on any future occasion.
26. VENUE AND JURISDICTION.
If any action, whether real or asserted, at law or in equity, arises on the basis of any
provision of this Lease or of Lessee's operations on the Premises, venue for such action shall lie in
state courts located in Tarrant County, Texas or the United States District Court for the Northern
District of Texas, Fort Worth Division. This Lease shall be construed in accordance with the laws
of the State of Texas.
27. ATTORNEYS' FEES.
In the event there should be a breach or default under any provision of this Lease and either
party should retain attorneys or incur other expenses for the collection of rent, fees or charges, or
the enforcement of performance or observances of any covenant, obligation or agreement, Lessor
and Lessee agree that the prevailing pariy shall be entitled to recover reasonable attorneys' fees and
other reasonable expenses from the other party.
28. SEVERABILITY.
If any provision of this Lease shall be held to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or
impaired.
29. FORCE MAJEURE.
Lessor and Lessee shall exercise every reasonable effort to meet their respective obligations
as set forth in this Lease, but shall not be held liable for any delay in or omission of performance
due to force majeure or other causes beyond their reasonable control, including, but not limited to,
compliance with any government law, ordinance or regulation, acts of God, acts of omission, fires,
strikes, lockouts, national disasters, wars, riots, material or labor restrictions, transportation
problems and/or any other cause beyond the reasonable control of Lessor or Lessee.
21N/31N Ground Lease
Texas Jet, Inc.
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30. HEADINGS NOT CONTROLLING.
Headings and titles used in this Lease are for reference purposes only and shall not be
deemed a part of this Lease.
31. ENTIRETY OF AGREEMENT.
This written instrument, including any doctunents attached hereto or incorporated herein by
reference, contains the entire understanding and agreement between Lessor and Lessee, its assigns
and successors in interest, as to the matters contained herein. Any prior or contemporaneous oral or
written agreement is hereby declared null and void to the extent in conflict with any provisions of
this Lease. The terms and conditions of this Lease shall not be amended unless agreed to in writing
by both parties and approved by the City Council of Lessor.
IN WIT SS WHEREOF, the parties hereto have executed this Lease in multiples, this
�� ��day of , 20 C1 / .
CITY OF FORT R
By: � i���?�7' -
Name:
Assistant City Manager
ATTEST:.
By: u� _
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City Secretary �- ����C� �
APPROVED AS TO FORM AND LEGALITY:
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Assistant City Atto
$ 2F
M & C: C-1�ff33 1-16-01
21N/31N Ground Lease 21
Texas Jet, Inc.
TEXAS JET, INC.: .,-�
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By: `� ��
Reed P'g�, Jr.
President
ATTEST:
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By: � ,
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Gontract Authorization
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Date
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STATE OF TEXAS
COUNTY OF TARRANT
BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on
this day personally appeared Reed Pigman, Jr., known to me to be the person whose name is
subscribed to the foregoing instrument, and acknowledged to me that the same was the act of Texas
Jet, Inc. and that he executed the same as the act of Texas Jet, Inc. for the purposes and
consideration therein expressed and in the capacity therein stated.
-(s��
GIVEN UNDER MY HAND AND SEAL OF OFFICE this -�d day of l�� ���',
20oI . �,,,�,�.,,.
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STATE OF TEXAS § ,�'•?;?0/2002 ,.•'
'��„„���`
COUNTY OF TARR.ANT
BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on
this day personally appeared �li�X �(rfcc�t��1L , known to me to be the person whose name is
subscribed to the foregoing instrument, and acknowledged to me that the same was the act of the
City of Fort Worth and that he executed the same as the act of the City of Fort Worth for the
purposes and consideration therein expressed and in the capacity therein stated.
GIVEN LJNDER MY HAND AND SEAL OF OFFICE this %� �day of GL' ��
,
20�i .
PRY•P�' ROSELLA BARNES
(*�� M1e��*; NOTARY PUBLIC
��9;�1r^Y,,i,�;i State of Taxas
'�.',FoF;�•' �omm. Exp. 03-31-2005
21N/31N Ground Lease
Texas Jet, Inc.
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Notary Public in and for the State of Texas
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City of Fo�t Worth, Texas
��A�or A11d C,aunc�l Can��nun�cAt�an
DATE REFERENCE NUMBER LOG NAME PAGE
1/16/01 **C-18433 55JET 1 of 2
SUBJECT TERMINATION OF CITY SECRETARY CONTRACT (NOS. 10048 AND�7�} AND
APPROVAL OF A NEW LEASE AGREEMENT WITH TEXAS JET FOR LEASE SITES
21 N AND 31 N AT FORT WORTH MEACHAM INTERNATIONAL AIRPORT
RECOMMENDATION:
It is recommended that the City Council authorize the City Manager to terminate City Secretary
Contract (Nos. 10048 and�-and execute a new Lease Agreement with Texas Jet for Lease Sites
21 N and 31 N at Fort Worth Meacham International Airport.
I7�����[iP►�
On October 12, 1989, the City of Fort Worth executed a Consent to Assignment of all interests in City
Secretary Contract (No. 10048) from Texas American Bank Financial, Inc., to Texas Jet. On February
20, 1990, City Secretary Contract (No. �-7� was executed which established the termination date of
the lease agreement as September 30, 2004 with one five-year renewal option.
Texas Jet now proposes to build an additional hangar on the leased site without changing the total
square footage amount. The additional 11,760 square foot hangar will be known as Hangar 31 N.
A new lease will be executed that will begin on its date of execution and terminate on September 30,
2030, with two five-year renewal periods. In the new lease, the square footage of the current hangar,
21 N, will continue to be charged at unimproved ground rental rates until the expiration date of the
original lease, September 30, 2009. On October 1, 2009, the hangar area of 21N will be charged the
then current hangar rate in compliance with City policy. The remainder of the 21 N lease site and all of
the 31 N lease site will be charged at improved ground rental rates.
The initial annual revenue of this lease agreement will be $1,295.24 per month, or $15,542.88 on an
annual basis. The rate will be subject to adjustment in accordance with the upward percentage change
in the Consumer Price Index each October 1. On the 10th, 15th, 20th, and 25th anniversary date of this
lease, the rental rate will be adjusted to match the then prevailing rate for like property. All other terms
and conditions will be in compliance with City policies.
City of FoNt Worth, Texas
A ar And aunc�l a�rt�nun�cAt�on
�� � C C
DATE REFERENCE NUMBER LOG NAME PAGE
1/16/01 **C-18433 55JET 2 of 2
SUBJECT TERMINATION OF CITY SECRETARY CONTRACT (NOS. 10048 AND ��) AND
APPROVAL OF A NEW LEASE AGREEMENT WITH TEXAS JET FOR LEASE SITES
21 N AND 31 N AT FORT WORTH MEACHAM INTERNATIONAL AIRPORT
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that the Revenue Section of the Finance Department is responsible for
the collection and deposit of all revenues in connection with this lease agreement.
RG:k
Submitted for City Manager's
Office by:
Ramon Guajardo
Originating Departmeot Head:
Lisa A. Pyles
Additional Informatioo Contact:
Luis Elguezabal
FUND ACCOUNT
(to)
PE40 491352
6140
5400 (from)
5401
CENTER I AMOUNT I CITY SECRETARY
C���i�iI�l�l
$15,542.88 d��������
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