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AMENDMENT NO. 3
CITY SECRETARY CONTRACT NO. 53774
GtTY SECRETi�
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FORT WORTH MEACHAM INTERNATIONAL AIRPORT
LEASE SIT� 42N
This AMENDMENT NO. 3("Amendment") is made and entered 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 AR�A 51
HANGAR LLC, ("Lessee"), acting by and tivough KENNETH BROADIE, its duly authorized
President.
RECITALS
WHEREAS, On or about April 2, 2020, Lessor and Lessee entered into City Secretary Contract
("CSC") No. 53774 ("Lease"), a thirty-year Ground Lease Agreement for use of real property known as
Lease Site 42N ("Leased Premises") at Fort Worth Meacham International Airpoi�t ("Airport"),
WHEREAS, the Leased premises in the Agreement currently includes 79,181 square feet of
unimproved ground space;
WHEREAS, On or about January 22, 2021, Lessor and Lessee entered into CSC 53774 A-1
(First Amendment) to extend the deadline for beginning of construction of mandatory improvements by
120-days;
WHEREAS, On or about April 15, 2021, Lessor and Lessee entered into CSC 53774 A-2
(Second Amendment) to replace the original survey which incorrectly included a concrete pad belonging
to an adjacent Lease Site 43N with a revised and corrected survey and which changed the Leased
Premises square footage from 79,875 square feet to the corrected amount of 79,181 square feet;
WHEREAS, it was recently identified that certain standard language within the Mandatoiy
Improvements provision of the Lease was inadvertently not included when the Agreement was originally
executed;
WHEREAS, it is both the Lessor and Lessee's intent to amend the Agreement to include the
additional language and clarify the undeistanding between the parties relating to when the ownership of
the Mandatory Improvements transfers to the Lessor under the Lease.
AGREEMENT
NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are
hereby acknowledged, Lessor and Lessee hereby agree as follows:
1.
The Agreement is hereby amended by deleting Section 4.1 "Mandatory Improvements" of the
Agreement in its entirety and replacing it with the following:
AREA 51 HANGAR, LLC.
Amendment No. 3 to CSC No. 53774
Page 1 of 4
�FFICIA�. �ECOf�D
�ITY SECftEiARY
FT. WQRTH, TX
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4.1. Mandatory Improvements.
As additional security for this Lease, Lessee covenants and agrees that it shall
construct the "Mandatory Improvements" as referenced in Exhibit "B" on the
Leased Premises owned by the City of Fort Worth. At the completion of
construction of the Mandatory Improvements, Lessee shall provide to the Lessor:
a copy of the Certificate of Occupancy, a complete set of Record Drawings and/or
As-Built Drawings in Adobe PDF and AutoCAD formats, and a Summary of the
total cost/value of the Mandatory Improvements. Upon issuance of the Certificate
of Occupancy Lessor shall talce full title to the Mandatory Improvements on the
Premises.
Lessee shall fully comply with all provisions of this Section 4 in the performance
of any such Mandatory Improvements. Should construction not be completed as
evidenced by the issuance of a Certificate of Occupancy within the applicable time
period set forth in this section and Exhibit B, Lessee shall be in default of this Lease
and Lessor shall terminate Lessee's rights to the Premises in its entirety.
In the event that Lessor and Lessee agree to deviate from the terms, provisions,
specifications or conditions of this Lease in any way, an Amendment to the Lease
shall be signed and dated by both Lessor and Lessee and shall be attached to and
made a part of this Lease and shall supersede the previous terms, provisions, and
specifications as specifically identified.
2.
All other terms and conditions of the Lease shall remain in full force and effect.
3,
The statements set forth in the recitals are true and correct and form the basis upon which Lessor
and Lessee have entered into this Amendment. The Lease is a public document on iile 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 conflict with the provisions and conditions of this Amendment shall remain in full force and
effect.
(Signature Page to Follow)
AREA 51 HANGARS, LLC.
Amendment No. 3 to CSC No. 53774
Page 2 of 4
IN WITNESS WHEREOF, the parties hereto have executed this Amendment in multiples on this
the 18-�t, day of A�rii , 2021.
CITY OF FORT WORTH:
By: ��,��C �._
Fernando Costa
Assistant City Manager
Date: �-;��������
STATE OF TEXAS
COUNTY OF TARRANT
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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.
GIVE UNDER MY HAND AND SEAL OF OFFICE this
J�i , 2021.
. �.
` SELENA ALA
:?,�? .'�:Notary Public, State of Texas
,N�;;�. = rc,r,m Expires 03-31-2024
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%.:, '` ��otary ID 132422528
APPROVED AS TO FORM
AND LEGALITY:
By:
Thomas Royce Hansen,
Assistant City Attorney
M&c: o�-�,���r�-��d`�� i
Date:
02- g�,, day
Public in and for the State of Texas
ATTEST:
By: /�
Mary
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AREA 51 IIANGARS, LLC,
Amendment No. 3 to C5C No. 53774
Page 3 of 4
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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.
Real Propei-ty Manager
Barbara Goodwin
Name Printed
LESSEE:
AREA 51 HANGAR LLC
By�,�```�� - � -- t�-__
Kenneth Broadie, President
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Date: i <. ._
STATE OF TEXAS
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COUNTY OF �i��-,,,�t!
By:
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ATTEST:
BEFORE ME, the undersigned authority, a Notaiy Public in and for the State of Texas, on this day
personally appeared Kenneth Broadie, 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 AREA 51 HANGAR
LLC. and that he executed the same as the act of AREA 51 HANGAR LLC. for the purposes and
consideration therein expressed and, in the capacity, therein stated.
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GIVEN UNDER MY HAND AND SEAL OF OFFICE this �� day
�-
2021.
GARTH D. SHIPLEY
Notary Public, State of Texas
Comm. Expires 06-17-2024
Notery ID 5154735
AR�A 51 HANGARS, LLC.
Amendment No. 3 to CSC No. 53774
Page 4 of 4
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