HomeMy WebLinkAboutContract 18893-R2A1 CITY SECRETARY 3
CONTRACT N0.
AMENDMENT TO LEASE AGREEMENT
(CITY SECRETARY CONTRACT NO. 18893)
This Amendment to the Lease Agreement ("Amendment") is made and entered
into by and between CITY OF FORT WORTH, (Lessor) acting by and through Jesus J.
Chapa, its duly authorized Assistant City Manager, and Lake Worth Sailing Club
("Lessee"),
RECITALS
WHEREAS, the City of Fort Worth ("Lessor") entered into a lease agreement with Lake
Worth Sailing Club, dated March 6, 1991 (City Secretary Contract No. 18893) (the "Lease") for
the land described therein as 8900 Sunrise Point CT formally known as 4064 Peninsula Club
Circle, Fort Worth TX 76135, for a Primary Term of fifteen (15) years from March 6, 1991 to
March 5, 2006 with two(2)ten year options;
WHEREAS, by way of Renewal of Lease Agreement (City Secretary Contract No.
33653), Lessee exercised the First Renewal Term for a period of ten (10) years from March 6,
2006 to March 5, 2016, and filed of record in the Tarrant County Real Property Records on July
11, 2006 as Instrument#13203209700 ("Renewal of Lease Agreement") with the option to renew
the Lease for one(1)additional period of ten(10)years;
WHEREAS, by way of Second Renewal of Lease Agreement (City Secretary Contract
No. 18893-R2), Lessee exercised the Second Renewal Term for a period of 10 years from March
6,2016 to March 5,2026;
NOW THEREFORE, in consideration of mutual covenants contained in this Addendum,
Lessor and Lessee agree to amend Sections 3 and 4 of Second Renewal of Lease Agreement(City
Secretary Contract No. 18893-R2)as follows:
1. Sections 3 and 4 are deleted in their entirety and replaced with the following:
3. The Rent for the second renewal term, commencing March 6, 2016 and ending
March 5, 2026, shall start at an annual rate of$15,520.88. Thereafter, the rental
rate shall increase 2%annually and annual, quarterly and monthly rentals shall be
as follows:
4.
Term Annually Quarterly Monthly
March 6, 2016 March 5,2017 $ 15,520.88 $3,880.22 $ 1.293.41
March 6,2017 March 5, 2018 $ 15,831.30 $3,957.82 $ 1,319.28
March 6,2018 March 5,2019 $ 16,147.92 $4,036.98 $ 1,345.66
March 6,2019 March 5, 2020 $ 16,470.88 $4,117.72 $ 1,372.57
March 6,2020 March 5, 2021 $ 16,800.30 $4,200.08 $ 1,400.03
March 6,2021 March 5, 2022 $ 17,136.31 $4,284.08 $ 1,428.03
March 6, 2022 March 5, 2023 $ 17,479.03 $4,369.76 $ 1,456.59
March 6, 2023 March 5,2024 $ 17,828.61 $4,457.15 $ 1,485.72
March 6,2024 March 5,2025 $ 18,185.19 $4,546.30 Nm:
March 6,2025 March 5,2026 $ 18,548.89 $4,637.22 $ 1 54 7
OFFICIAL 1%1-
Amendment to Lease with Fort Worth Sailing Club(CSO 18893) ciTY SECR
Page 1 of 2
le'v.WOR4V, �
4
2. All other terms of the Lease agreement remain in effect.
This Addendum shall be effective on�� G , 2018.
LESSOR:
CITY OF FORT WORTH,
a Texas municipal corporation ATTEST:
B � ��_
y:
Jesus J. Chapa City S tVA ry
Assistant City Manager
APPROVED AS TO FORM AND LEGALITY:
NO M&C REQUIRED
Senior Assistant C ty Attorney
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 requirements.
Name ofEmployee
Title
LESSEE:
LAKE WORTH SAILING CLUB
By:
NaY
Title: Commodore
OFTI�IAL RECORD
Amendment to Lease with Fort Worth Sailing Club(CSO 18893) CITY SECRETARY
Page 2 of 2 FT.MIRTH,TX
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