HomeMy WebLinkAbout96-85 RESOLUTIONI r
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RESOLUTION NO. 9Fi—A9
SCANNED
A RESOLUTION AUTHORIZING THE MAYOR AND CITY ('f.FRK
TO EXECUTE A MODIFICATION IN THE CITY'S LEASE
AGREEMENT AND FIXED BASE OPERATOR'S CONTRACT WITH
AERO—TECH SERVICES, INC., TO PROVIDE FOR ANNUAL
RENEGOTIATION OF RENT PAYABLE FOR USE OF FUEL
FARM.
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 a modification of the City's Lease Agreement and Fixed
Base Operator's Contract with Pero -Tech Services, Inc., to provide
for annual renegotiation of rent payable for use of fuel farm. A
copy of the modification authorized for execution hereby is attached
hereto marked Exhibit "A" and made a part hereof.
. PASSED AND APPROVED this
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'ATTEST
3rd
day of September
APPROVED ate
Mayor
, 1985.
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MODIFICATION OF LEASE flEEMENT
This A REE,1E JT made this
1985, by and between the City
called "City" and Aero -Tech
"Fixed Base Operator (F00)".
/.,k 741
day of
of Fayetteville, Arkadsas, ereinafter
Services, Inc., hereinafter called the
WHEREAS, the City and Aero -Tech Services, Inc., entered into
a lease agreement and fixed base operator's contract dated January
22, 1985, which is incorporated herein by reference thereto, and
WHEREAS, the parties desire to modify the aforesaid lease agreement.
NOW, THEREFORE, THE PARTIES MUTUALLY AGREE AS FOLLOWS:
1. Paragraph 4 of said lease is modified by combining the first
two paragraphs after subparagraph (b) and amending them to read as
follows:
The consideration payable to Lessor for .the year beginning
March 1, 1986, shall be the amount resulting by adjusting the
basic consideration payable under paragraph (a) above during
the initial year of this to reflect the percentage of change
(either up or down) occurring in the Consumer Price Index, U.S. Bureau
of Labor Statistics, Department of Labor, through cowering the
index of December 31, 1985, with the index on December 31, 1984.
The consideration payable to Lessor for the year beginning March
1, 1986, under paragraph (b) shall be negotiated by the parties
and specified by written modification of this contract. The
consideration payable to Lessor for the year beginning March
1, 1987, shall be the amount resulting by adjusting the consideration
payable under paragraph (a) above for the year beginning March
1, 1986, to reflect the percentage of change (either up or down)
occurring in the Consumer Price Index, U.S. Bureau of Labor Statis-
tics, Department of Labor, through comparing the index of December
31, 1986, with the index on December 31, 1985. The consideration
payable to Lessor for the year beginning March 1, 1987, under
paragraph (b) above shall be negotiated by the parties and specified
by written modification of this contract.
2. All provisions of the lease are incorporated herein and
are hereby modified 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
of Lease on the day and year first above written.
ATTEST
BY:
Title:
16.02