HomeMy WebLinkAbout07-79 RESOLUTION4
RESOLUTION NO. 7-79
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A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE
AN AMENDMENT TO THE CITY'S LEASE AGREEMENT WITH FRONTIER AIRLINES.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
That the Mayor and City Clerk are hereby authorized and
directed to execute an Amendment to the City's lease agreement
with Frontier Airlines. A copy of the Amendment authorized
for execution hereby is attached hereto, marked Exhibit "A"
and made a part hereof.
PASSED AND APPROVED this
1979.
A,` ATTESTilkse
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APPROVED:
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MAYOR
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MODIFICATION OF LEASE AGREEMENT
.FAL 1508-2
This Agreement made this 10th day of April , 1979 by and between
CITY OF FAYETTEVILLE, ARKANSAS, a municipal corporation, hereinafter called
"Lessor", and FRONTIER AIRLINES, INC., a Nevada Corporation, hereinafter
called "Lessee".
WHEREAS, the parties hereto have entered into a lease dated March 1,
1975, and modified August 23, 1977, copies of which are attached hereto,
marked Exhibit
and and made a part hereof; and
WHEREAS, the parties desire to enter into a new agreement modifying or
supplementing the provisions of said lease.
NOW, THEREFORE, in consideration of the mutual covenants contained here-
in, the parties agree as follows:
1. The lease dated March 1, 1975 between Lessor and Lessee shall be
modified effective retroactively to January 1, 1979 as follows,:
a. The suin payable under paragraph 5 (A) of said lease is modified
to be $7.10 per square foot per month.
b. The sum payable under paragraph 5 (D) of said lease is modified
to be $112.00 per month.
c. Paragraph 5 of said lease is modified by adding subsection (E)
to read as follows:
For exclusive aircraft apron space, the sum of $112.00 per
month.
d. Exhibit "B" to said lease is modified to provide that the
landing fees payable after January 1, 1979 shall be 20 cents per 1,000
pounds (mclw) per month.
e. Parac!raph 4 of said lease is modified to provide that the term
thereof shall end January 1, 1980, and is further modified to add the
following:
The failure of Lessee to surrender the demised premises on
January 1, 1980, the date provided herein for the termination of this
lease term, and the subsequent holding over by Lessee, with or without
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the consent of Lessor, shall result in the creation of a tenancy from
month to month at a monthly rental as provided herein during the month
to month tenancy. This holding over shall not result in a renewal or
extension of this lease, and the month to month tenancy may be termi
thirty (30)
nated at any time by Lessor's giving Lesseevtcn (10) days written
notice of the intention to terminate the tenancy. All other terms and
conditions of this lease shall remain in force during any month to
for space in the existing
month tenancy hereunder except that any new rental rates/negotiated building
after January 1, 1980 shall be retroactive to include.any period of � �%ct%I
month to month tenancy.
2. All provisions of the lease are incorporated herein and are here-
by modified or supplemented to conform herewith but in all other respects
are to be and shall continue in full force.
IN WITNESS WHEREOF, the parties have executed this modification on
the day and year first above written.
ATTEST•/,
TITLE:
CITY OF FAYETTEVILLE, ARKANSAS,
A Municipal Corporation
Mayor
FRONTIER AIRLINES, INC.
BY
W. W. Hog(&n
TITLE: Vice President $ Treasurer
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