O-1948-359 - Laserfiche WebLink

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~.- e . ORDDTANCE NO. 22~___ ).. AN ORDTI-J".ANCE GRANTilW THE Hoo-PORT AVIA'l'ION, nw. AN OPl'ION TO E)C'fEND THE TERM OF THE LEASE BY }J.jD DETv'/EEN 'l'BE CITY OF' LA PORTE AND ARTHUR J. MANDELL, ET AL, lESSEES, DATED FEBRUARY 10TH, lSl47, Vv1fIGH lEASE HAS HEHETOF'ORE BEEl'1 ASSIGNr::O TO nOU-PORT AVIATION, me., FOR TltrO ADDITIONAL PERIODS OF FIVE YEARS EACH. 'WHEREAS, on .the loth day of Februf.l.ry, A. D. 19L(1, the City Council of the City of' la Porte, Texas, du~r passed an OrdinD..llee No. 330, granting a lease to Arthur J. Mandell, A. W. Wadswor1.~ll, U. W. Me Mi1h1n o.nd Herma.1'l Wright, O.S Lessees, and ~jhe City of l~ Porte as Lessor, o.ud by vir-tue of which, IJessees leased a. por- tion of that certain airfield IQ'lown as Ellington Auxiliary Landing Field, No.2, and WHEREAS, by instrument dated FebruaIJ" 2:7, 19h7, the said lessees assigned said 1e3.se to lIou-Port Aviati on, Ine., a Texas CorporatiOl.l, I.Uld y1Jh"'EREAS J liou-Port Aviation, J.:t'I(~. has llsked for 1m. opt ion '\;0 extend the term of said lease for two (2) additional periods of five (5) years each; IWW, TllERF..FmE, BE 1'1' ORDAINED BY THE BOAUD OIi' cm,U\]JSSIOl*;HS OF THE Cl'l'Y OF I.A. PORTE, TEXAS, TH1\T: Section 1. From a.nd after the passage of 'I:;his Ordinance, re.re~raph VII of Sec1:;ion No. 1 of Ordinance lio. 330, shall be ron.ended. and is heroby SDlended to read as follows, to-\.lit: VII Lessees shall have the right to renew this lea.so for an additicmal term of fivf' (5) years upon terms not more thlUl ten per oent. (10%) 1esa favorable to the u,Sisees than the prior term. Lessees shall have options to successively renew this lease for a second. third and fourth five-year period. Each re-nown1 shall be 'Upon terms not m.ore than ten per oent. (10'/0) less fnvore.b1e to the Lessees '\i\ than the preceeding period. Lessees shall exercise such OptiOl1S by givi.Dg the City written notice of their in.l:;otl.tion to renew not less thlUl sixty (60) d~s prior to expira.tion of this lease or ~ re-newal thereof. Section 2. Front and af'ter the paasage of this Ordinanoe, Pe.ragraph VIII of Section 1 of Ordinance No. .3.30 shall be aunended and is hereby amended to reo.d as follow 5J to-wit: VIII At the termination of this 1e3.8e, either by the failure of the Lessees to eXl,rcise their option, or at the end of thirty years, it is understood and agreed ')