HomeMy WebLinkAboutContract 62229CSC No. 62229 ESTOPPEL CERTIFICATE THIS ESTOPPEL CERTIFICATE is given as of the��� day o�� , 2024, by
THE CITY OF FORT WORTH, a Texas Home-Rule Municipal Corporation ("Sublessor") at the request
of TIGER AVIATION, LLC, a New Mexico limited liability company ("Tiger Aviation"), for the benefit
of ALWABAHN REAL ESTATE LLC, a Texas limited liability company, and its permitted assigns
("Alwahban").
RECITALS
1. Tiger Aviation, as Assignor, and Alwahban, as Assignee, plan to enter into an Assignment
and Assumption of Airport Lease Agreement (the "Assignment Agreement") that relates to the assignment
and assumption the Hangar B Lease and Hangar B Leasehold Interest (located at Fort Worth Spinks
Airport), a copy of which has been provided to Lessor.
2.Under the Assignment Agreement, Tiger Aviation proposes and intends to sale and assign
to Alwahban all of Tiger A via ti on' s right, title and interest that Tiger Aviation has in and to the Hangar B
Lease, and Assignee will accept such assignment and assume all conditions, covenants and obligations of
the lessee under the Hangar B Lease.
STATEMENT
Sublessor hereby confirms and represents that:
1.The Hangar B Lease and Hangar B Leasehold Interest are accurately described in the
Assignment Agreement that has been submitted to Lessor, an d the exhibits attached to the
Assignment Agreement are true and correct copies of the described documents therein
including: Exhibit I -the Original Ground Lease; Amendment No. I (the Original Ground
Lease as amended by Amendment No. 1 is the "Master Lease"); the Original Hangar B
Lease; 2013 Hangar B Assignment; the 2017 Non-Disturbance Agreement (exclusive of
exhibits); and the 2017 Termination Agreement.
2.Tiger Aviation is the current Sublessee under the Hangar B Lease, and the City is the current
Sublessor under the Hangar B Lease.
3.Tiger Aviation has accepted and has possession of the Leased Premises under the Hangar B
Lease.
4.Tiger Aviation has fulfilled all of its duties of an inducement nature and payment obligations,
to Sublessor's lmowledge, Tiger Aviation is not in default in the performance of any of the
obligations it undertook with respect to the Hangar B Lease and/or the Master Lease.
5.The Hangar B Lease, as described in the Assignment Agreement, is in full force and effect
and has not been modified or revised except as described therein.
6.The primary term of the Hangar B Lease commenced on January 22, 2009, and expires on
December 31, 2036.
7.Sublessee has two (2) remaining consecutive options to renew and extend the Hangar B Lease
for two (2) additional successive terms of five (5) years ea�h.
ESTOPPEL CERTIFICATE Page 1
There are ongoing rental oUligations owed lo Sublessor under tl�e Hangac B Lease in the sum
of One Thousand One Hundred Thirty-Four pollars and 60/100 ($1,134.60) annually,
ply�ble monthly at the ratc of Niuety-Four pollars and 55/100 ($94.55) per movth.
Tiger Aviation l�as iiot deposited any security deposit witl� SuUlessor, and Tiger Aviation is
not entitled to credit for any other sums on deposit with Sublessor.
] 0. All rent, chacges or other payments due Sublessor under the terms of the I-iangar T3 Lease and
the Master Lease have been paici through October 1, 2024, aud Tiger Aviation has not prepaid
any reut or otlier charges more than 30 days in advance of the dates on which that rent or
tliose charges l�ave Uecome due u►ider the terms of the Hangar B Lease and/or Master Lease.
] 1. Sublessor laiows of no claims, counterclaims, credits, defenses or set-offs that it currently
has against Tiger Aviation in comiection witl� the tenancy created by tl�e Hangar B Lease
and/or the Mastei• Lease.
12, To Sublessor's lcnowledge, Tiger Aviation is not in material default in respect of any of its
obligations avd no event has occtu•red, and no condition exists, that would permit Sublessor
to terminate the Hangar B Lease with the passage of time, the giving of notice or botli.
13. SuUlessor hereby unconditionally consents to the assignment and assumption contemplated
and to be made u�icler the terms of the Assigmnent Agreeme�it.
Tliis Certificate sl�all inure to tlie beneiit of and inay be relied upon by A1wahUan Real Estate, LLC,
and its respective successors and assigns.
[Sig�u�ture page folloivsJ
�STOPP�L C�RTIrICAT� Page 2
�wflITNESS WHEREOF, Sublessor has executed this Estoppel Certificate on the�� day of� ,2024.
STATE OF TEXAS §
§ COUNTY OF TARRANT §
,,���;:,,,, ANGELA D. CHRISP L li:-·::.X::X� Notary Public, State of Texas l \�·-l!'::jj} Comm. Expires 03-18-2028 ( 1
'1%ftt,,,,,,, Notary ID 134812443 j APPROVED AS TO FORM AND LEGALITY: candaoe PCW/iara By: Calffl,ct Pagliu, (Oc.l 30, i 713:n COT)
Name: Candace Pagliara Title: Assistant City Attorney
ESTOPPEL CERTIFICATE SUBLESSOR: CITY OF WORTH
By ;Valerie Washington (Oct 30, 2024 16:45 CDT)
Name: Valerie Washington Title: Assistant City Manager
ATTEST:
� J,, � By:_U _________ _ Name: Jannette S. Goodall Title: City Secretaiy
KC
Pagc3