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Home My WebLink AboutContract 46407-T1 op o rgCP' o-11 AGREEMENT TERMINATING LEASE FORT WORTH SPINKS AIRPORT UNIMPROVED GROUND LEASE AGREEMENT LEASE SITE 16E This AGREEMENT TERMINATING LEASE ("Agreement") 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 FERNANDO COSTA, its duly authorized Assistant City Manager and COPELAND & BULLARD INVESTMENTS, LLC, a Limited Liability Company (Lessee), acting by and through GARY J. BULLARD,its duly authorized President. RECITALS The following introductory provisions are true and correct and form the basis of this Agreement: A. Lessor previously entered into a Ground Lease Agreement ("Lease") at Fort Worth Spinks Airport (the "Airport") known as City Secretary Contract No. 46405 on February 10, 2015, with Copeland & Bullard Investments, LLC. All defined terms used in this Agreement that are not otherwise defined herein shall have the meaning as set forth in the Lease. B. Lessor and Lessee have decided to cancel and terminate the Lease and it is the intention of Lessor and Lessee to effect the cancellation of the Lease by this instrument. THEREFORE, in consideration of the covenants and agreements contained below, and of the release and surrender by Lessee of the Lease and all of its rights in it and all of its rights in and to Premises, of the release by Lessor of all Lessee's obligations under the Lease, and for other valuable consideration, the receipt and sufficiency of which are acknowledged here,the parties to this Lease agree as follows: AGREEMENT OFFICIAL RECORD CITY SECRETARY 1. TERMINATION OF THE LEASE. FTS WORTH,TX The Lease is hereby terminated effective as of August 17 ("Effective Date"). Lessee and Lessee's heirs and assigns hereby forever releases, quitclaims, and surrenders to Lessor the Lease and all rights of Lessee in and to the Premises and the Ramp Space. Lessee and Lessee's heirs further RELEASE, ACQUIT, AND FOREVER Agreement Terminating Lease Fort Worth Spinks Airport Unimproved Ground Lease Agreement—Copeland&Bullard Investments, LLC Pagel of 4 DISCHARGE Lessor and Lessor's agents, servants, employees and all other persons from any and all claims, demands, or causes of action of any kind whatsoever against Lessor which Lessee may have now, known or unknown, existing, directly or indirectly attributable to the Lease or this Agreement. In consideration of the foregoing, Lessor, its successors and assigns, hereby RELEASES, ACQUITS, AND FOREVER DISCHARGES Lessee from any and all obligations under the Lease. 2. SURRENDER OF PREMISES. Within 30 days following the Effective Date, the Premises shall be vacated of all trade fixtures, tools, machinery, equipment, materials and supplies, furniture, and personal property ("Tenant Property"). By entering into this Agreement, Lessee hereby agrees that any Tenant Property remaining after this 30 day period shall become property of the Lessor, and this Agreement constitutes a bill of sale for same to Landlord. 3. NOTICES TO LESSEE AFTER EFFECTIVE DATE. All notices to Lessee after the Effective Date shall be addressed as follows: Copeland &Bullard Investments,LLC 5000 County Road 608 Alvarado,Texas 76009 Agreement Terminating Lease Fort Worth Spinks Airport Unimproved Ground Lease Agreement—Copeland&Bullard Investments,LLC Page 2 of 4 IN WITNESS WHEREOF, the parti s hereto have executed this Agreement Terminating Lease in multiples on this the y of 2017. CITY OF FORT WORTH: By: ! A,D' Fernando Costa Assistant City Manager Date:_ 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 Fernando Costa, known to me to be the person whose name is subscribed to this Agreement Terminating Lease, 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 UNDER MY HAND AND SEAL OF OFFICE this 11p��_day A P,-- , 2017. TRIKINYA L JOHNSON o:Notary Public, State of Texas Comm. Expires 04-17-2018 Notary Pu is in a for the Notary ID 1238832.0 State of Texas APPROVED AS TO FORM ATTEST: ORT..!1!O A GALITY: 0� By: ffiBy: Paige M ane Mary J. K r Assistant City Attorney City Secretary M&C: Approval Date: a9�I Form 1295: a0/7- OFFICIAL RECORD CITY SECRETARY Agreement Terminating Lease FT.WORTH, TX Fort Worth Spinks Airport Unimproved Ground Lease Agreement—Copeland&Bullard Investments,LLC Contract Compliance Manager: By signing I acknowledge that I am the person responsible for the monitoring and administration of this contract,including ensuring all performance and reporting requireme Anne-Marie Stowe A�" J4002 Title LESSEE: ATTEST: COPELAND & BULLARD INVESTMENTS, LLC By: B Garef E414d, Presiderft Date: STATE OF ( § COUNTY OF --arraijk- § BEFORE ME, the undersigned authority, a Notary Public in and for the State of 5 , on this day personally appeared Gary J. Bullard, known to me to be the person whose name is subscribed to this Agreement Terminating Lease, and acknowledged to me that the same was the act of Copeland & Bullard Investments, LLC, and that s/he executed the same as the act of Copeland & Bullard Investments, LLC, for the purposes and consideration therein expressed and in the capacity therein stated. GIVEN f NDER MY HAND AND SEAL OF OFFICE this 3 Sfi day 2017. JEROME D.TAYLOR e Notary iD 129050435 Notaroublic in and for the My Cor wdssion Expires July 18,2020 State of Agreement Terminating Lease Fort Worth Spinks Airport Unimproved Ground Lease Agreement—Copeland&Bullard Investments,LLC Page 4 of 4 City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 8/29/2017 DATE: Tuesday, August 29, 2017 REFERENCE NO.: **C-28350 LOG NAME: 55FWS LEASETERM COPELANDBULLARD SUBJECT: Authorize Termination of Three Ground Lease Agreements for Lease Sites 16E, 17E, and 18E at Fort Worth Spinks Airport by Mutual Consent with Copeland & Bullard Investments, LLC (COUNCIL DISTRICT 6) RECOMMENDATION: It is recommended that the City Council authorize the termination of three Ground Lease Agreements for Lease Sites 16E, 17E, and 18E, with Copeland & Bullard Investments, LLC, at Fort Worth Spinks Airport. DISCUSSION: On January 27, 2015, Mayor and Council Communication (M&C C-27159), City Council approved three Ground Lease Agreements, City Secretary Contract (CSC Nos. 46405, 46406, and 46407), with Copeland & Bullard Investments, LLC, (Copeland & Bullard), at Fort Worth Spinks Airport. The effective date of all three Ground Leases was March 1, 2015. All three Ground Leases will expire on February 28, 2045. Lease site 16E (CSC No. 46405) consists of approximately 11,879 square feet of ground space with mandatory improvements to construct an approximately 3,600 square foot hangar facility. Lease site 17E (CSC No. 46406) consists of approximately 12,099 square feet of ground space with mandatory improvements to construct an approximately 3,600 square foot hangar facility. Lease site 18E (CSC No. 46407) consists of approximately 21,798 with mandatory improvements to construct an approximately 12,000 square foot hangar facility. The mandatory improvements required completion and issuance of a Certificate of Occupancy no later than twelve months after construction commences. Mr. Bullard recently approached the City expressing his desire to terminate all three Ground Lease Agreements. Due to high construction costs and other construction project obligations, Mr. Bullard stated that he is unable to fulfill the terms and conditions of the Ground Lease Agreements. By allowing Copeland & Bullard to terminate the Ground Lease Agreements, this will allow an opportunity for other interested parties to develop on this lease site. Staff recommends approval to terminate the Ground Lease Agreements with Copeland & Bullard. FISCAL INFORMATION / CERTIFICATION: The Director of Finance certifies that the Aviation Department is responsible for the marketing and advertising of new ground lease opportunities at the City owned airports/facilities. Logname: 55FWS LEASETERM COPELANDBULLARD Page 1 of 2 FUND IDENTIFIERS (FIDs): TO Fundi Department ccoun Project Program ctivity Budget Reference # Amount T ID ID YearChartfield 2 FROM T n µ'............. Fund'! Department ccoun Project Program ctivity Budget Reference # moun ID ID Year (Chartfield Z CERTIFICATIONS: Submitted for City Manager's Office by: Fernando Costa (6122) Originating Department Head: Bill Welsted (5402) Aaron Barth (5434) Additional Information Contact: Anne-Marie Stowe (5415) ATTACHMENTS 1. Form 1295 16E.pdf (Public) 2. Form 1295 17E.pdf (Public) 3. Form 1295 18E.pdf (Public) 4. Map CopelandBullard.pdf (Public) Logname: 55FWS LEASETERM COPELANDBULLARD Page 2 of 2 CERTIFICATE OF INTERESTED PARTIES FORM 1295 1 of 1 Complete Nos.1-4 and 6 if there are interested pasties. OFFICE USE ONLY Complete Nos.1,2,3,5,and 6 it there are no interested parties. CERTIFICATION OF FILING 1 Name of business entity filing form,and the city,state and country of the business entity's place Certificate Number: Z 3 4 $ of business. 2017-243221 1 Copeland&Bullard Investments,LLC Q� Alvarado,TX United States Date Filed: ` 2 Name of governmental entity or state agency that is a party to the contract for which the form is 07/31/2017 being filed. City of Fort Worth Dim Ackno P d: oil�4 3 Provide the identification number used by the governmental entity or state agency to track or identify the ontract,an ide a� f description of the services,goods,or other property to be provided under the contract. k 46405 `a ?� £ Ground lease,Lease Site 16E,12707 Wild Cat Way North Nature ofinterest 4 Name of Interested Party City,State,Country(place of business) (check applicable) Controlling I Intermediary Copeland, Barry Mansfield,TX United States X Bullard,Gary Alvarado,TX United States X 5 Check only if there is NO Interested Party. 6 AF I smear,or affirm,under penalty of perjury,that the above disclosure is true and correct. (a JEROME D.TAYLOR Notary ID 129050435 My CorrNnission Expires July 18,2020 gn r authorized a ent of contracting business entity AFFIX NOTARY STAMP/SEAL ABOVEJ,� Sworn to and subscribed before me,by the said C-70-!2I ✓ �14*1lI this the day of , 20_1'?__,to certify which,witness my hand and seal of otfi wre of officer administering oath Printed name of officer administerifig oath Tiffe of officer administering oath Forms provided by Texas Ethics Commission www.ethics.state.tx.us Version V1.0.963