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Home My WebLink AboutO-1948-359 ~.- 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 ') e - 2 - e be~~vreen the parties that 8X1Y' perm.a.nent improvements erected on the field by 'blle Lessees shall be the property of the LeRsees. It is further agreed that the City will have a first option to purchase said improvements frpnl the Lessees. For the Purl')ose of arriving at the va.lue of such improvements for sale purposes, the ~'ssees and the City shall each select an arbiter, and suoh two arbiters shall s,elect a third, and such three arbiters shall a.gree upon a purchase a.nd :.:ID.1e prioe for said improvemmts. If the City does not exeroise its option to purchase said improvements I the Lessoes shall have the right to sell said ilnprovemellts to other l~arties. Arry expenses incident to the eouduct of' suoh arbitration shall be b02'r~e I,qually by the I..essees em the City. Seetion 3. This Ordinance ~d the options granted hereby shall inure to the benefit of the said Hou-Port Aviation, Ino., the present owner md holder of said lease. Seotion 4. .As the City does not have MY rule 02' Ordinance l'equir1.ng Ordin- ances to be read at more than one meetine;, or that same be passetl on more th3.n on.e reading, th is Ordinnnoe shall beeane effective immediately upon its passage. Passed and approved this the 3rd_dajy of May, A. D. 1948. ~ ,I ,N /-~. e.,' "-_/ ~-, ;' ~. ,9 " '-- .- -- . -- -------- - ORDTIifA\oiC1'1 }1O. 359 ------ ~l a.,Wn-I.AIliCE <!~,Jt'l!rnG TEE HeU-PORT AVll\.Tlotl, INC. AI~ OptION TO E~:TEkD THE ~ERE OF TEE lEASE llY .tJl.:D nET~IE~1 TEE CI'J:Y OF LA PORTE .AIm l.RTHUR J. FAND~~u:,J ~:r ~l:L, LESSEES, Dl~BD l~BRUtl.RY 10TH, 1947;t ~~HICH !B.ASE BAS FER!<lTOFORcr: BE.:2j l~SJG1I.TED ~~c HOU-?ORT .WIi:.TI<mJ TIre., FOR Tao ADD IT Im!A1, F..ilRIODS OF FIVE YEllRS ~il.cn. ~~RJc;i!SJO on tb.~ loth day of' February, J~. D. 1947, the City Counc1.1 of the 1J:~'~y of Ia l=orte, Tt'lxas, du~ passed an Ordinol1ce llo. 330, e;ronting 0. lease to t~rthur J. Hondell, J~. VI. T/a.dS'1.'Iorth, yr, 17. 1ic :r.Iillan a.nd Herman ~~righ'{j,l os L~ssee6, and the Oity 0-: I.a. i.jorte as Lessor, and by virtue of which, Lessess lee.f;ed Q. por- tion of 'bh:.t certai"l a.irfit.!'ld knovm o.s Ellington Auxiliary Landing FielCt, liTo. 2, and r.1IER.E.liS, by in.atrument dnted February 'Z7 JO 19114, the said Lesseos a.ssigned said lease to Rou-?ort Avb.ti on, Ino., a Texas Corpora.tion, and l'JFiREiIS, Hou-Port Avio.tion, Ino. has a.sked for Sln opt ion to ox~enc1 the tel"lll of said lense for '~10 (2) ~ddition~l periods of five (,) ye~rs euch; NO~'f, 'i'EEREFmE, BE IT ORDAINED BY THE 30llRD OF C0Il1bISS10NERS 0]' THE CITY OF LA PORTE, TE.XAh, TH.A1': Seo-eion 1. !'rom and after the pa.ssage of this Ordinance, ?ar~1'c.ph VII of Seotion ~'ro. 1 of OrdinD.nOe No. 330, shall be omend6d. and is hereby OLle:nded to read 0.8 i'ollmm, 'bo-wit: VII ~r::sees shfl.ll ha.ve the rizht to renew' this lease fer an a.dditiono.l term of five (,) jrea.rs uton terms not mOl:"e than ten par cent. (107~) less fa.vc::-a.ble to the /-'" lessoels than the prior term. Lessees shllll ha.ve options to suoce:Jsboly reneVl :"-._~ this le:lst'l for 0. aeoond., third and fourth five-yea.r period. Each re-nevml shall be upon terms no-1;; 1l101'e than ten per oent. (lO:S'" less fa.vol"t'.ble to thfi Lessees ,~, ~han the preoee~.i:oe; period. Lessees eOO11 exeroise suoh options Oy gi.vine; the City written notioe of their interl.tion to renew not less than si~rby (60) da;ys prior to expiration of this lence or a.Di1 re-ne"Ia.l thereof. Section 2. From o..nCl o.fter the pnssa.ge of this Ordinanoe, Fl\ra~rl1ph VIII of Section 1 of Ordi.n.nnoe }ro. 330 sha.ll be !Wended o.nd is hereby amondod to rend a.s follou 5J to-wit: V!II ~'1.-{:; the ter'Jl'Ji.."'lation of this lea.se, either by the fa.i1ure of tho Lessees to exercise their option., or llt the end of thirty years. it is undm:'stooC:. and agreed --- -----------. .. -' -2- .. batvreen the 9c.r1:iies that a.:o;r per.lllanent improvef.'l.ents erected on the field by the ,~ Lassoes sh~11 be tho )roperty of the Lessees. It is further agreed that the City : e' will Mve t:'. first option to purohOi.se s!\id improvements from the Leseee~ Q For tho '-~-"",,' pl:Lrpose of arriving IT!: the value of suoh improvEmlents for sale purposes D '\';he Lc~ssees Iilnd. the City shall eo.ch select an arbiter, o.nd such two arbitors sho.ll s"lect u third, und f;uch three arbiters ehnU o.gree upon a. purchase and i3:l.1e prioe for sOoid improvea:o.antEio If the City does nab exercise its option. to pi.lrohOose said improvements, the Leusees shall have the right to sell sa.id improvements to o'l:ihar :pc.rties. /Sny expenrsos inoident to the oonduct of suoh o.rbitro.tion shull be borne elquD.lly by 1m.a lesseoa o..M the City. Seotion 3. This Ordinance ~d the options granted hereby sha.ll inure to the l>enefit of the sa.id :1ou-Port Aviation. Inc., the present owner and holder of said /'~ :e lea.se. ....., Section 4. .M, tl:e City does not have any rule or Ordinanoe requir:i.i.'l$ Crdin- ances to be rea.d at more than one meetine;, or that same be pa.ssed on mora than one rending, this Ordini'm-ee almll became effective immedia.tely upon its pa.GfHlgeo Passed and approved this the 3rd da.v of ~. A. D. 191.,B. ~~frIk-~%ne e ,---'. ,.r----.., , ,a, . .""'.... .