2002-02-11 Regular Meeting - Laserfiche WebLink

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• • ARTICLE III - RENTALS AND CHARGES Article III shall be amended by adding the following subparagraphs: l.a For the Leased Premises, as described in Article II, subparagraph (a), of the three T-Hangar sites as shown on Exhibit "A", and subparagraph (c), the option T-Hangar Site 4, rental shall be paid annually in advance in an amount of $1,645.00 per year, per T-Hangar site, or $4,935.00 per year for the three T-Hangar sites, based on January 1, 2 0 02 , rental rate of $ 0.14 per square foot per year. Rental for subsequent years under this paragraph shall be subject to increase in accordance with any increases in the Consumer Price Index for All Urban Consumers, with 2001 as a base year. Rental for the T- Hangar area shall commence on the earliest to occur of August 1, 2002, or the issuance of a certificate of occupancy by the City of La Porte. i.b For the Leased Premises, as described in. Article II, subparagraph (b), being the 34 tie down areas described on Exhibit "B" to this Amended Lease Agreement, the following rental: A. Lessee shall pay to Lessor, as additional rent, a sum equal to thirty. percent (30%) of the gross revenues obtained from rental of tie-down spaces; provided, however, Lessee shall guarantee Lessor a yearly rental of not less that $144.00, multiplied by the 34 tie-downs leased; B. Rental for the 34 tie-downs shall be paid monthly, in a sum equal to 1/12th of the annual rental due, in advance, on the 1st day of each and every month. Cost of living indexing shall not apply to the rental and charges for the tie-down areas. Except and to the extent as amended hereby, the Agreement and Lease for fixed base. operation at City of La Porte Municipal Airport, between the City of La Porte, as Lessor, and D.E. Aviation, Inc., as Lessee, shall remain in full force and effect. IN WITNESS WHEREOF, the parties have caused these presents to be signed by their duly authorized representatives. Lessor: CI OF LA PORTE BY: ~- orma e, Mayor 3