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Home My WebLink AboutContract 42807-A1 (2)CITY SECRETARY CONTRACT NO. AMENDMENT NO. 1 TO CSC IN 42807 FORT WORTH SPINKS AIRPORT GROUND LEASE AGREEMENT WITH MANDATORY IMPROVEMENTS LEASE SITE NW-3 This AMENDMENT NO.1 ("Amendment") 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 and acting by and through Fernando Costa, its duly authorized Assistant City Manager, and FWS 1 E LTY, LTD. ("Lessee"), a limited liability partnership, acting by and through its General Partner, Harrison Realty Investments, LLC, acting by and through its President, Haydn Cutler, Jr. RECITALS WHEREAS, on or about January 19, 2012, Lessor and Lessee entered into City Secretary Contract ("CSC") No. 42807, a ground lease agreement with mandatory improvements for 17,600 square feet of ground space known as Lease Site NW-3 ("Leased Premises"), at Spinks Airport ("Airport"). CSC No. 42807 shall hereinafter be referred to as the "Lease"; WHEREAS, due to a grade change in elevation on the Leased Premises, the northern boundary of the Leased Premises will need to be expanded by five feet, to allow for the adequate placement of the hangar building ("Mandatory Improvements"); and WHEREAS, Lessor and Lessee now wish to amend the Lease to reflect the expansion of the Premises to 185700 square feet of ground space. NOW THEREFORE, in consideration of the mutual convenants, promises and obligations contained herein, Lessor and Lessee herby agree as follows: 1. Section 1. PROPERTY LEASED shall be deleted in its entirety and replaced with the following: Lessor hereby demises to Lessee, and Lessee hereby demises from Lessor, in accordance with the terms and conditions contained herein, a tract of land consisting of approximately 18,700 square feet known as Lease Site NW-3, at Spinks Airport, as depicted on Exhibit "A" attached hereto ("Premises"). FWS Realty Ltd. Amendment No. 1 to CSC No. 42807 Fort Worth Spinks Airport Page ] of4 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX 2. Section 3. RENT is hereby amended to read as follows: 3.1.3 Rates Commencing on the date the first certificate of occupancy is issued for a hangar constructed on Lease Site NW-3 pursuant to Section 4.1 of this Lease he "Occupancy Date") and continuing through September 30, 2012, Lessee promises and agrees to pay Lessor, as annual rent for Lease Site NW- 3, the lesser of (i) $0.27 per square foot, for a total of $5,049.00, payable in monthly installments of $420.75, or (ii) the rent amount per square foot of the "Schedule of Rates and Charges" as pian .mulgated by the Lessor fnr Spinks. K� 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. [Signature Pages Immediately Follow] FWS Realty Ltd. Amendment No. 1 to CSC No. 42807 Fort Worth Spinks Airport Page 2 0f4 IN WITNESS WIJJVREOF, the parties hereto have executed this Agreement in multiples on this the _day of. )L4 , 2012. CITY OF FORT WORTII: By: Fernando Costa Assistant City Manager Date: ,Z G 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 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. GIVEj�i UNDER MY HAND AND SEAL OF OFFICE this day 2012. E110NIA Dpp11ELS MY COMMISSION EXPIRES July 10, 2013 APPROVED AS TO FORM a y: `(,�li. Charlene Sanders Assistant City Attorney M&C: zSqSi Approved: FWS Realty Ltd. Amendment No. ] to CSC No. 42807 Fort Worth Spinks Airport Page 3 of 4 ATTEST:. City Secretary OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX FWS REALTY, LTD by Harrison Realty Investments, LLC Its General Partner Date: 9. v STATE OF TEXAS § COUNTYOF TAI RAiUT § ATTEST: BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day personally appeared Haydn Cutler, 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 FWS Realty, Ltd. and that he executed the same as the act of FWS Realty, Ltd.. for the purposes and consideration therein expressed and in the capacity therein stated. 7ku LA GIVEN UNDER MY HAND AND SEAL OF OFFICE this day 20 ]Is blic in and for the�tate of Texas �s'�Y RITA SINGLETON • NOTARY PUBLIC STATE OF TEXAS My COMM, EXP,12.lk012 FWS Realty Ltd. Amendment No. 1 to CSC No. 42807 Fort Worth Spinks Airport Page 4 of4 III Will III III goo oa UU) ° o �F ° to q otl p E+ y � A wmLe im pi I t', b CQ qW 0 0. °o 1 " s W55'0e' a 85&00* E b a o'er mPj CPS x—*— — z�cc x—x—x—x— O O 0 v :d r- m.� x � to � q 04 I 9 4 I C cs I °0 0I Q 1 ° I B H W55'OSW 85.00' a I 13 �I r gl � I NICE It I g't I 8e /` i� t_ prIS o Uo Na tIt to ri e _ m 's o e4`c to to z bo nnory p ° to Il,u2 uo oe"°° c o O aN73 N $ ^ Ott r da we " 3 w 3 o33hc�p 4IN vmi� hqF o °mmT¢� y wU w w w W 3k Ato a mn o3� IP% xG��jj k3'�n�'. �€ CPS City of Fort Worth, Texas Mayor and Council Communication DATE: Tuesday, July 24, 2012 LOG NAME: 55FWS AMEND NWTHREE FWSREALTY REFERENCE NO.: **C-25757 SUBJECT: Authorize Execution of Amendment No. 1 to City Secretary Contract No. 42807, a Ground Lease Agreement with Mandatory Improvements with FWS Realty, Ltd., for Expansion of Lease Site NW-3 Located at Spinks Airport (COUNCIL DISTRICT 8) RECOMMENDATION: It is recommended that the City Council authorize the execution of Amendment No. 1 to City Secretary Contract No. 42807, a Ground Lease Agreement with mandatory improvements with FWS Realty, Ltd., for expansion of Lease Site NW-3 located at Spinks Airport, DISCUSSION: On January 10, 2012, (M&C C-25389) the City Council authorized the execution of a Ground Lease Agreement with mandatory improvements, City Secretary Contract (CSC) No. 42807, for 17,600 square feet of ground space known as Lease Site NW-3 at Spinks Airport. Staff has received a request from FWS Realty, Ltd. (FWS), to expand the northern boundary of the lease site by five feet. Due to a grade change in elevation on the lease site, this expansion is needed to allow for the adequate placement of the hangar building. This expansion will bring the total square footage of the lease site to 18,700 square feet of ground space. Staff finds no objection with the request, as it will allow FWS to continue moving forward with the mandatory improvements, as required by CSC No. 42807. Based on the 18,700 square feet, at a ground rate of $0.27 per square foot, Lease Site NW-3 will generate $51049.00 annually and $420.75 monthly. All other provisions and conons of the Lease shall remain in full force and effect. Spinks Airport is located in COUNCIL DISTRICT 8. FISCAL INFORMATION /CERTIFICATION: The Financial Management Services Director certes that the Aviation Department is responsible for the collection and deposit of funds due to the City. FUND CENTERS: TO Fund/Account/Centers PE40 491052 0551201 $5,049000 CERTIFICATIONS: Submitted for Citv Manager's Office bv: FROM Fund/Account/Centers Fernando Costa (6122) Logname: SSFWS AMEND NWTHREE FWSREALTY Page 1 of 2 Oripinatinq Department Head: Additional Information Contact: Bill Welsted (5402) Donnie Huitt (5409) ATTACHMENTS 1. 55FWS Amend Not NW3 FWS Realty Exhibit A.pdf (Public) Logname: SSFWS AMEND NWTHREE FWSREALTY Page 2 of 2