Loading...
HomeMy WebLinkAboutContract 28548 (2) CITY SECRETARY 04-18-03PO3-.21 HCVD CONTRACT NO. AMENDMENT NO. I TO CITY SECRETARY CONTRACT NO. 23512 FORT WORTH ALLIANCE AIRPORT GROUND LEASE AGREEMENT BETWEEN CITY OF FORT WORTH AND AIRPORT BUILDING PARTNERS,LTD. A11iA-Q_ &P L_L,6. This AMENDMENT NO. I TO CITY SECRETARY CONTRAC NO. 23512, ("Amendment") is entered into by and between the CITY OF FORT WO/RT , TEXAS (the KIC) "City"), a home rule municipal corporation organized under the laws of the S to of Texas and n acting by and through Marc Ott, its duly authorized Assistant City Manag and AIRPORT BUILDING PARTNERS, LTD. ("Lessee"), a Texas limited partnership act g by and through M. Thomas Mason, the Vice President of Hillwood Devchypra.,­G04yo—lafion, a Texas Iv --cQqwAgien that is the general partner of Hillwood Qpsm4iftg, L.P., a Texas limited partnership that is the general partner of Lessee. Ai h can if f".Cnrty.,e,+- Thi- The following introductory provisions are true and correct and form the basis of this V, Amendment. A. On or about July 29, 1997, the City and Alliance Aviation Investors, L.P. entered into City Secretary Contract No. 23512 (the "Ground Lease"), a lease of real property at Fort Worth Alliance Airport generally known as Tracts 2 and 5, as more specifically defined and depicted in the Ground Lease. B. On or about February 5, 1998,Alliance Aviation Investors, L.P. assigned all of its rights, titles and interests as tenant under the Ground Lease to Lessee. C. The term of the Ground Lease is approximately thirty (30) years and six (6) months, Lessee wishes to extend the term by an additional ten (10) years. Article XrV, Section 17 of the City's Minimum Standards for Fixed Base Operators and Other Airport Tenants, a public document adopted by the Fort Worth City Council ("Council") on June 16, 1992, limits the term of any lease of property on a City-owned airport to a maximum of forty (40) years (thirty(30) years, with an option or options to renew the lease for up to ten(10) additional years, unless*a different combination is specifically authorized by the Council, as occurred in this case). Therefore,Lessee's request can only be granted, to the greatest extent possible, by amending the Lease to grant Lessee an option to renew the Lease for a term commencing upon expiration of the original term and expiring on the fortieth anniversary of the Effective Date of the Ground Lease, NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the City and Lessee agree as follows: 1. Article I (Term; No Cross Default) of the Lease is hereby amended by deleting the last two sentences of Section 1.1 and adding the following provisions below Section 1.1: Amendment No. I to City Secretary Contract No.23512 Page I 1.1.1 The term of this Ground Lease shall begin on January 19, 1999 (which is the date on which the City issued a certificate of occupancy for the Aviation Related Facilities and is the "Effective Date" as used in this Ground Lease) and shall expire on July 31, 2029 (which is the last day of the 366th month following the month in which the Effective Date falls) unless sooner terminated in accordance with the provisions hereof ("Initial Term"). 1.1.2 If Lessee performs and abides by all provisions and conditions of this lease, then upon expiration of the Initial Tenn Lessee will have an option to renew this Ground Lease for an additional term commencing August 1, 2029 and expiring January 18, 2039 ("Renewal Term"). Lessee may exercise this option by providing written notice of its intent to renew this Ground Lease for the Renewal Term not less than one (1) year prior to the expiration of the Initial Term. If Lessee exercises its option to renew this Ground Lease for the Renewal Term, all terms and conditions of this Ground Lease shall continue in full force and effect during the Renewal Term. 1.1.2. Not more than three (3) years prior to expiration of the Renewal Term, Lessee may notify the City in writing of a desire to renew this Ground Lease for an additional ten (10).year term (the "Subsequent Renewal Request"). The City, in the City's sole discretion, may (i) grant the Renewal Request, either by entering into a new lease or, if allowed by then-current laws and/or City regulations, by amending this Ground Lease, or(ii) deny the Renewal Request provided that the basis for such denial is not unreasonable under the circumstances. 2. Unless otherwise specifically indicated, references in the Ground Lease to the "term" of the Ground Lease shall,without limitation, include the Initial Term and the Renewal Term. 3. All terms in this Amendment that are capitalized but not defined shall have the meanings assigned to them in the Lease. 4. This Amendment contains the final written expression of the City and Lessee with respect to the subject matter hereof. This Amendment shall be effective upon execution by both the City and Lessee and may be executed in multiples. EXECUTED as of the (A day of k4 n un 12003. Amendment No. I to City Secretary Contract No.23512 Page 2 CITY OF FORT WORTH: ATTEST- By: By: Marc Ott dloria P Assistant City Manager City S= APPROVED AS TO FORM AND LEGALITY: e2 By: , Peter Vaky Assistant City Attorney M&C No. C-18972 02-19-02 AIRPORT BUILDING PARTNERS, LTD.: (aij)iknce By: 011wood 04"g,L.P. a Texas limited partnership and its general partner: By: Hillwood Development Ge"walion, Afllan(e_ CP, L-LC- a Texas co;pefe4on and I iak 10M) eurn�(An� its general partner By:A M. Thomas Mason Vice President Amendment No. I to City Secretary Contruct No.23512 Page 3 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 Marc Ott;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 UNDER MY HAND AND SEAL OF OFFICE this day .2003. H E EME LANE Nay Pic.State of Texas My Cmntwbn Expkw July 26,2003 Notary Public in and for the State of Texas STATE OF TEXAS § COUNTY OF b 0 1 BEFORE Jvffi, the undersigned authority, a Not he in and for the State of Texas,on qu this day personally appeared M. Thomas Mason, own to e to be the person whose name is v subscribed to the foregoing instrument, and owledged me that the same was the act of Hillwood—n Gar-PeFetion an 01wood g, L.P. on behalf of Airport 1�z Building Partners, Ltd. and that he ecuted the same as the act of Hillwood De*eknm2mt P. and Airport Building Partners, Ltd. for the purposes tonwm�u, Hillwood 2 undersigned consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this t day 12003. Eeftol"; N �EAIR 1,1 COMMON 111411s: Notary Public in 4dfor the State of Texas Amendment No. 1 to City Secretary Contract No.23512