Loading...
HomeMy WebLinkAboutJoyce Andrews DBA Fresno Airparts Lease Amd No 1 to Airport Lease Agreementlr-8t5qlzt I rs -(ú C o.9zo [loÉ9UEu-OO-Ø Looi5 > LEASE AMENDMENT NO. 1 to the FRESNO CHANDLER EXECUTIVE AIRPORT AIRPORT LEASE AGREEMENT Between CITY OF FRESNO, CALIFORNlA And JOYCE ANDREWS D.B.A. FRESNO AIRPARTS between the CITY OF FRESNO, CALIFORNIA, a municipal corporation (hereinafter referred to as "Lessor'') and JOYCE ANDREWS, d.b.a. FRESNO AIRPARTS COMPANY, located al52O West Kearney Boulevard, Fresno, California 93706, (hereinafter referred to as "Lessee"). REGITALS WHEREAS, the Parties executed into a Lease Agreement effective July 1,2010, (the "Agreement") covering a parcel of approximately 14,000 square feet of land, including a 6,171 square foot building at the Fresno Chandler Executive Airport, and WHEREAS, the current term of the Agreement is scheduled to expire on June 30,2015, and WHEREAS, Lessee desires to remain at his present location and extend this agreement with the Lessor for an additional five years; and WHEREAS, Lessor has determined it is in its best interest to extend this lease agreement with LESSEE. NOW, THEREFORE, in consideration of the foregoing recitals and of the mutual promises herein contained, it is hereby agreed: 1. Article ll, Section A., "Term", of the Agreement is replaced and re-written to read as follows: A. Term: The term of this Agreement shall be for a period of ten years, commencing July 1 ,2010, hereinafter sometimes referred to as the "Commencement Date", and ending June 30, 2020 (the "Expiration Date"). a. Earlv Termination: Either pady may terminate this Agreement at any time and without cause by serving written notice upon the other party no less than 60 days before such termination is to be effective. b. Holdinq Over: i. ln the event Lessee shall remain in possession of the leased premises or any pad thereof following the end of the life of this Agreement, and thus hold over the term hereof with or without the express written consent of Lessor, such holding-over occupancy shall be a tenancy from month to month only, terminable by either pafty hereto upon service of a minimum of 30 days' advance written notice upon the other party. ii. Rental Durinq Holding Over Period: During the holding-over MONTH- TO-MONTH TENANCY period, Lessee shall pay to Lessor all rent required by this Agreement at the rates in effect as of the date immediately preceding the date on which such month{o-month tenancy commences. iii. Applicabilitv of Aqreement Provisions: EXCEPT as otherwise specifically set forth within this Article, such holding over shall be subject to all of the terms, covenants, conditions, and provisions of this Agreement applicable to a month-to-month tenancy. 2. Article V, Section 4., "Rental", part a of the Agreement is replaced and re-written to read as follows: a. Rent and Due Date: Rent for the Premises shall be paid in advance on the first day of each and every month at the rate of one thousand two hundred dollars ($1,200.00) per month. b. Rent Adiustment: Annually, commencing Julv 1, 2016, then on July 1 each and every year thereafter, throughout THE TERM OF THIS LEASE including any available option or holding over periods, the amount of the monthly Rent to be paid to Lessor by Lessee shall be subject to increase. The increased amount will become the new Rent each year respectively and will be calculated as follows: i. The Rent will increase by the same percentage as the percentage increase in the U.S. Department of Labor, Bureau of Labor Statistics (USDLBLS) Consumer Price lndex (CPl) for Urban Wage Earners and Clerical Workers (all items, U.S. city average) from January 1 to December 31 during the last full calendar year prior to the scheduled rent adjustment date. The amount of all such annual adjustments shall be determined in the manner illustrated within Exhibit rrcrr "lllustration Of Annual Rental Adjustment Computation", attached hereto and made a part hereof. LESSOR shall complete the "Annual Rental Adjustment Computation" worksheet and provide a copy of such worksheet to LESSEE, prior to the commencement of each Lease Year during THE LIFE OF THIS LEASE. Exhibit C of the Agreement is added by the attached "lllustration of Annual Rental Adjustment Computation" which is marked as Exhibit "C" and dated 71112011 (see 2.b.i. above). Except as expressly provided in this Amendment No. 1, all other terms and provisions of the Agreement shall continue in full force and effect. 3 4 ilt ilt ilt lN WITNESS WHEREOF, the Parties and year first above written. CITY OF FRESNO, CALIFORNIA A Municipal Corporation have executed this Amendment No. 1 as of the day JOYCE ANDREWS DBA FRESNO AIRPARTS ATTEST: Yvonne Spence, CMC av: Ç¿?zz' C â*¿¿¿z:- Title: %"*rU*¿- Address for Notice: Fresno Airparts 520 West Kearney Avenue Fresno, CA 93706 Phone: 559-237-4863 APPROVED AS TO FORM: Douglas T. Sloan City A Address for Notice: City of Fresno Airports Department 4995 E. Clinton Way Fresno, CA 93727 Director of Aviation City Clerk MPI.E RE: PIEINTHESKYAV N I.fASE AND AGREEMENT The rentâl ¿djustment calcu n shown to the right was completed Ín keeping with the intent of the agr€ementforthe Hangarat 1234 Aviation Way Fresno,CA Lease Agreêment AND P¡E lÌ'¡ Tl{E AVIATKTN ¡uly L 2011 EXAMPLE USDLSTS CPI -JAN-DEC,_ USOLBLS CPI -JAN.DEC,, AMOUNTOF CPI CHANGE PEßCE ECP¡CHANGE CURRENTANNUATRENTAT AMOUNTOF ADJUSTMENT 211.967 3 221-S7S + 7.608 3.5557% $1O,ooo.o0 535s.s7 S10,3s5.s7 EfFECIIVE Ju1y1,2011 I FRESNO,CA 93727-7s04 I NEW MONTHLY RENTAL EFF VE July1,2011 TEI.fPHONE: (5591 621-4500 lllustration of Annual Rental Adjustment Computation Exhibit "C"