HomeMy WebLinkAboutJoyce Andrews DBA Fresno Airparts Lease Amd No 1 to Airport Lease Agreementlr-8t5qlzt I rs
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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.
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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"