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HomeMy WebLinkAboutContract 45478 (2)CITYSECREFAPX/jCONTRACT NO..7Y-- STANDARD LOAN AGREEMENT By this agreement, made and entered into by and between the CITY OF FORT WORTH ("Lender"), 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 the OV- 10 BRONCO ASSOCIATION, INC., d/b/a FORT WORTH AVIATION MUSEUM ("Borrower"), acting by and through Jim Hodgson, its duly authorized President (collectively "the Parties"). The Lender hereby loans to the Borrower the following property which is permanently assigned to the Lender: Item# 052212-068 052212-069 041212-146 041212-216 041212-226 041212-227 041212-234 052212-001 052212-008 052212-047 052212-050 052212-064 052212-151 * 052212-152 * 052212-153 052212-182 68fl 12-007 021312-024 052212-129 652212-130 052212-045 Item Description Vultee BT-13/SNV A-12 full scale mockup B-36 gunsight module Wooden Crate of steel machined missiles, bombs, attachments and armaments related to wind tunnel testing. F-111 Bomb shapes steel wind tunnel models for F 111 Missile shapes steel wind tunnel models for F111 F-111 wind tunnel model 28 v power supply cart for A-12 F-111 display model electrical cart A-12 wind tunnel model A-12 model display base Appraised Value 35,000.00 7,500.00 50.00 650.00 A-12 model (fuselage) * A-12 model (outer wing section) Included in cost above (L) * A-12 model (outer wing section) Included in cost above (R) AIM-7 missile WWI Locklear Uniform N. Texas airfield kiosk B-3 6 tunnel entry base plus accessories B-3 6 tunnel exit base plus accessories Wind Tunnel Lab Tab Appraisal of all items completed by National Appraisal Consultants in 2012 RECEIVED MAR 2 8 2014 RECEIVEU APR in 3 2014 450.00 450.00 4,500.00 75.00 75.00 15.00 275.00 25.00 1,250.00 20.00 7,500.00 0.00 0.00 0.00 0.00 OFFICIAL RECORD g8'YV SECRETARY `i6 WORTh, TX The Lender agrees to place the above listed property on subcustody to the Borrower for an initial period to commence on the date of execution of this agreement ("Effective Date") and expire at 11:59 P.M. on September 30, 2014. Unless terminated in accordance with the provisions of this agreement, this agreement shall automatically renew for successive Renewal Term of one year each, commencing at 12:00 A.M. on October 1st of each year and expiring at 11:59 P.M. the following September 30th not to be renewed past September 30, 2024 The Borrower agrees to not sub -lease or display the above Government property at another location without prior written permission from the Lender. The Borrower has applied in writing by letter for the loan of the above property, and hereby agrees to accept it on an ' as is, where is" basis, to be responsible for all arrangements and to assume and pay all costs, charges, and expenses incident to the loan of this property. This includes the cost of preparation for transportation from the city facilities to the Fort Worth Aviation Museum facilities. This also includes the disassembly, packing, crating, handling, transporting, and other actions incidental to the movement of the loaned property to the Borrower's location indicated herein. Any work product, equipment or material resulting from efforts or at the expense of the Borrower with regard to the items listed above will become a perrrranent part of that item and will be considered the property of the Lender unless specifically exempted by the Lender. The Borrower agrees to repair or replace, at the discretion of the Lender, the borrowed item for any and all loss or damages that may be inflicted on the items by the Borrower If the material borrowed is irreplaceable, the borrower may be required to make monetary restitution to the Lender up to the full amount of the appraised value of the item The Borrower agrees to be responsible for routine maintenance The Borrower agrees to notify the Lender if any of the aircraft or materials begin to deteriorate beyond normal maintenance that the Borrower is unable to provide and work with the Lender to determine the appropriate action. The Borrower shall obtain no interest in the loaned property by reason of this agreement and title shall remain in the Lender at all times Any requirements, modifications or additions on or to the property is limited to that approved in writing by the Lender and becomes the property of the Lender. The Borrower agrees to use the loaned property in a careful and prudent manner, not without prior written permission of the Lender to modify, restore, or mount on pylons or any structure above ground in any way, which would alter the original form, design, or the historical significance of said property, to perfonn routine maintenance so as not to reflect discredit on the Lender and to display and protect it in accordance with the instructions set forth in Attachment One, incorporated herewith and made part of this Loan Agreement. Additionally, refer to Attachment 1, Supplemental Requirements for Aircraft, Item 4, for more guidelines The Borrower agrees to accept physical custody of the property within 60 days, after execution of this agreement to receipt to the Lender for said property on assuming custody of it, to place it on exhibit within 120 days, and to report annually to the Lender on the condition and location of the property. Extending these time limits is at the Lender's discretion. The Borrower agrees to provide the Lender with 4 x 6 color prints on the loaned property within 90 days of the arrival of the items at the Borrower's location and upon submission of the annual certification statement. The photographs shall depict one full length photograph and one individual photograph clearly identifying the item. Photographs shall include general views of the display/storage areas with enough detail to identify each item and/or artifact. The Borrower agrees not to use the loaned property as security for any loan, not to sell, lease, rent, lend, or exchange the property for monetary gain or otherwise under any circumstances. Sub -custody assignment or loaning the property to any other entity will be only with the prior written approval of the Lender. The Borrower agrees to allow authorized City of Fort Worth representatives access to the Borrower's records and facilities to assure accuracy of information provided by the Borrower and compliance with the teens of this Loan Agreement The Borrower agrees to indemnify, save harmless, and defend the Lender from and against all claims, demands, actions, liabilities, judgements, costs, and attorney's fees, arising out of, claimed on account of, or in any manner predicated upon personal injury death, or property damage caused by or resulting from possession and/or use of the loaned property. The Borrower agrees to return said property to the Lender on teiinination of this Loan Agreement, or earlier, if it is detelnuined that the property is no longer required, at no expense to the Lender. The failure of the Borrower to observe any of the conditions set forth in this Loan Agreement shall be sufficient cause for the Lender to repossess the loaned property. Repossession of all or any part of the loaned property by the Lender shall be made at no cost or expense to the Lender; the Borrower shall defray all maintenance, freight, storage, crating handling, transportation, and other charges attributable to such repossession. IN WITNESS WHE OF, the parties hereto have executed this Agreement in multiples on this the 3 day of n I , 2014. CITY OF FORT WORTH: By: cranisiin4 Fernando Costa Assistant City Manager Date: 3/27/1+ STATE OF TEXAS COUNTY OF TARRANT r' 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 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. �� ER MY HAND AND SEAL OF OFFICE this 2014. c o lumaS • tAtig ?Pe It- . .a :go; EVONIA DANIELS Notary Public, State of Texas My Commission Expires July 10, 2017 t APPROVED AS TO FORM AND LEGALITY: By: ' SIAt Charlene Sanders / Assistant City Attorney M&C: Not Required BORROWER: otary Public in and for the State of Texas az OFFICIAL RECORD CITY SECRETARY Ft WORTHS TX iST: ATTEST: Mary J. Kayser City Secretary day OV-10 BRONCO ASSOCIATION, INC., d/b/a FORT WORTH AVIATION MUSEUM By: Hodgson, Pr - : ident Date:7 a/,y STATE OF TEXAS § COUNTY OF 7?ert&ij-r § BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day personally appeared Jim Hodgson, 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 OV-10 BRONCO ASSOCIATION, INC., d/b/a FORT WORTH AVIATION MUSEUM, and that he executed the same as the act of OV-10 BRONCO ASSOCIATION, INC., d/b/a FORT WORTH AVIATION MUSEUM, for the purposes and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this flMZc/4 , 2014. . 1 I JONNIE RENEE' HUITT Notary Public, State of Texas My Commission Expires May 20, 2014 • •1 /R sus dishz Notary Vublic in and for the State of Texas ATTACHMENT ONE day SUPPLEMENTAL REQUIREMENTS FOR ITEMS 1. Where applicable the Borrower agrees to remove, from City premises, the loaned items, within 60 days after execution of this agreement. 2. The Borrower agrees to use the loaned items for display or educational purposes only and to protect the items from vandalism by displaying it behind fences, or by other suitable means to deter easy access. The Borrowei further agrees to place the items on display within 120 days or as may be otherwise specified by the Lender following physical acceptance of the items and to provide the Lender with a 4 x 6 photograph depicting how the aircraft is displayed. In addition, the Borrower agrees to furnish the Lender a statement within 30 calendar days following the last day of each calendar year, certifying that the items are still in the possession of the Borrower and being displayed in the same manner and condition as indicated by the original photograph or provide an updated photograph and details regarding changes. 3. The Borrower agrees that the aircraft included in the loaned items shall not be restored to flying condition, nor shall the aircraft be flown or operated, including engine and systems operations, under any circumstances. 4. The Borrower agrees to maintain the loaned items in good material condition including corrosion control, painting, preservation, etc. and not to cannibalize, exchange, or remove parts of the items or to modify the items without written permission by the Lender. In addition, the Borrower shall seek written permission from the Lender PRIOR to painting any markings or insignia onto items, especially with respect to names being applied to aircraft. 5. If, at any time, the loaned items are no longer used for display or educational purposes, or if the Borrower no longer wishes to keep the loaned items, written notice shall be given to the Lender and the Lender shall be entitled to immediate repossession of the items. The Lender will exercise its option within 60 days after receipt of written notice from the Borrower and will advise the Borrower that the Lender desires to repossess the loaned items and will arrange for appropriate disposition at the present location.