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Home My WebLink AboutContract 50636-A1 CITY SECRETARY CONTRACT NO. (A - AMENDMENT NO._I- "tFo y CITY SECRETARY CONTRACT NO. 50636 Ilk FORT WORTH SPIN IDS AIRPORT HANGAR AND GROUND LEASE AGREEMENT This AMENDMENT NO. I ("Amendment") to City Secretary Contract Number 50636 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 DANIEL GRIFFITH("Lessee"),an individual. RECITALS W1iEREAS, On or about April 13, 2018, Lessor and The Myer.- Investment Group, LLC(Myers) entered into City Secretary Contract ("CSC")No. 50636 ("Lease"), a lease of real property consisting of 20,145 square feet of ground space, including a 9,240 square foot hangar at Fart Worth Spinks Airport ("Airport") known as Lease Site 32("Leased Premises"); and WHEREAS, On or about September 4,2019,Myers entered info an assignment of the Lease with the Lessee where Myers relinquished all rights,title,and interest in the Leased Premises and assigned those interests to the Lessee;and. WHEREAS, On or about. October 4, 2019, the Lessor, Myers, and Lessee entered into City Secretary Contract ("CSC") No. 50636-CAI, a Consent to Assignment of the Lease for the Leased Premises and any improvements and facilities thereon("Assignment"); and WHEREAS. there is currently approximately three (3) years remaining on the Lease with two (2)consecutive options to renew the Lease for two(2)additional successive terms of five(5) years, and WHEREAS, Lesser and Lessee now wish to amend the Lease to extend the initial term of the Lease for lease site 32. NOW,THEREFORE,for goad and valuable consideration,the receipt and.adequacy of which are hereby acknowledged, Lessor and Lessee hereby agree as follows: I. The Agreement is hereby amended by deleting Section 2.1, "Initial Term," of the Agreement in its entirety and replacing it with the following: 2,1 l nitial Tenn. The initial term of this Lease shall commence at 12:00 a.m. on April 1, 2018 ("Effective bate") and expire at 11:59 p,rn. on June 12, 2048, unless tern-turated earlier as provided herein ("Initial Term"). Fort Worth Spinks Airport Daniel Gd€rifle Amendment 1o. i to CSC No,S0636 OFFOCO L RECORD a`il n 'CALVARY WORM TX J I l i All ether terms and conditions of the Lease shall retain i€i full force and effect:. 3. The statements set forth in the recitals above are t►ate and correct and form the basis upon which Lessor and s Lessee have entered into this Agreement. The Lease is a publie document on file in Lessor's City Secretary's Office and is incorporated herein by reference for all purposes, 4. All other provisions and conditions of the Lease that are not expressly amended herein or directly in conflict with the provisions and conditions of this Amendment shall remain in full force and effect. [Signatures on Following Pages] }on Worth Spinks AirpmI Dunie€Griffith Amendment'No. l to CSC No.5€1636 Yaffe'off i IN WITNESS WHEREOF, the parties hereto have executed this Agree►ncnt in multiples o►n this the . __. day of 52020. I CITY OF FORT WORTH. ? Fernando Costa. Assistant City Manager Oate: �/�2�. � STATE OF TEXAS COUNTY OF TARRANT BEFORE ME, the undersigned authority,a Notary Public in and fo►-the State of Texas, on this day personally appeared Fernando Costa, known to me to be the person whose name is subscribed to the foregoing inst►tmient, and acknowledged to nee that the sane;vas the act of the City of Fort Worth and 1 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_ Gl /EN UNDER MY HAND AND EEL OF OFFICE this 11 day 2020. SELENA ALA zz ;� Notary public. State of Texas ' `".':�'q: Comm. Expires 03-31-2024 Otary Public in a IN'the State of Texas•.,,fit,«.\ Notary IQ 132422528 APPROVED AS TO FORM ATTEST: AND LEGALIWV: <,iAkThomas RA- ansen M ry I K gys/r.T4 ty re Assistant City Attotney M&C: 20-0307 .,'�� , Approval Date. May 5, 2020 For►n 1295: 2020-607026 D4 vw(el Fort Worth Spinks Airport - t)anicl Griffith Amendment No. I to CSC Noy 50636 OFFICUAL RECORD I'agc 3 oft CITY SECRETAnY Contract Compliance Manager: By sighting I acki owledge that 1 ant the person responsible for the monitoring and administration of this nch. ns Performance and reporting recfuireMents, ec perty Mamal er Print Name LESSEE: DA; I2IFFITI.1 By: - - Daniel Ciriffatlt Date- -�- -- � STATE OF TEXAS COUNTY OF TARRANT BEFORE: ME, the undersigned authority, a Notary Public in and for the State of Texas, on this clay personally appeared Daniel Griffith, 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 Daniel Griffith, and that he executed the same as the act of Daniel Griffith, for the purposes and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY I-IAND AND SEAL OF OFFICE;this clay of dT f ,2020_ lSUSrAN HERNANDEZ Notary Public in and for the State exas yz,' ;hANotary P��b1iC.Stsls of Texas 'gip Qy Comm.Expires 11.20-2022 Notary lD 72G33377•9 Flor-FICIALyg�¢p� j({jR¢pE��]ORhD_:_.ate_- City of Fort Worth, Texas Mayor and Council Communication DATE: 05/05/20 M&C FILE NUMBER: M&C 20-0307 LOG NAME: 55FWS LEASE AMEND GRIFFITH HGR 32 SUBJECT Authorize the Execution of an Extension of the Lease Terms of a Hangar and Ground Lease Agreement with Daniel Griffith for Lease Site 32 at Fort Worth Spinks Airport(COUNCIL DISTRICT 6) RECOMMENDATION: It is recommended that the City Council authorize the extension of the lease terms of a Hangar and Ground Lease Agreement with Daniel Griffith at Lease Site 32 at Fort Worth Spinks Airport. DISCUSSION: On or about April 13, 2018,the City of Fort Worth (City)and The Myers Investment Group, LLC(Myers)entered into City Secretary Contract (CSC)No.50636,a Lease of real property consisting of 20,145 square feet of ground space(Lease), including a 9,240 square foot hangar at Fort Worth Spinks Airport(Airport)known as Lease Site 32(Leased Premises). On or about September 4, 2019, Myers entered into an assignment of the Lease with Daniel Griffith (Lessee)where Myers relinquished all rights,title,and interest in the Leased Premises and assigned those interests to the Lessee. On August 27, 2019, (M&C19-0073),City Council authorized the execution of a Consent to Assignment of the Lease. The original term of the Lease commenced on April 1,2018 at 12:00 AM and expires at 11:59 PM on March 31,2023. In addition to the initial term,the Lease currently provides Lessee two(2)consecutive options to renew this Lease for successive terms of five(5)years each. On September 1,2019,staff received a request from Daniel Griffith to extend the initial term of the Lease to align lease terms with Lease Site 31 for which the tenant also has a lease agreement located at Fort Worth Spinks Airport. Upon City Council approval,the initial term of the Lease will be extended to June 12,2048. Under the current Lease, Daniel Griffith remits the amount of$18,999.60 annually to the City, payable in monthly installments of$1,583.30. Rental rates are subject to increase on October 1st of any subsequent year during the Initial Term, to reflect any upward change in the Consumer Price Index for the Dallas/Fort Worth Metropolitan Area, as announced by the United States Department of Labor or successor agency. The lease provides for five-year adjustments beginning October 1, 2023 and every fifth (5th)year thereafter(October 1, 2028, 2033)for the remainder of the initial term. Upon approval of the lease term extension,the five-year adjustments will include the remainder five year periods through June 12,2048(October 1,2038,2043). In addition, every tenth(10th)year under the Lease,the hangar rate shall automatically be adjusted to equal the then Fair Market Value, as prescribed by the Schedule of Rates and Charges for the type or types of property at the Airport similar to the type or types of property that comprise the Premises. The Lease Extension for Lease Site 32 was included as a discussion item at the September 12, 2019 Aviation Advisory Board Meeting agenda. Fort Worth Spinks Airport is located in COUNCIL DISTRICT 6. FISCAL INFORMATION/CERTIFICATION: The Director of Finance certifies that upon approval of the above recommendation and execution of the lease,funds will be deposited into the Municipal Airport Fund. The Aviation Department(and Financial Management Services)is responsible for the collection and deposit of funds due to the City. Submitted for City Manager's Office by. Fernando Costa 6122 Originating Business Unit Head: Bill Welstead 5402 Additional Information Contact: Ricardo Barcelo 5403