2021-047 - Approving and Authorizing the Execution of Assignment of Airport Ground Lease Agreement between Sheradon Carter and teh City of Paris for Hangar A-7 at Cox Field to Collin Hadley

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RESOLUTION NO.2021 - 047 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, APPROVING AND AUTHORIZING THE EXECUTION OF ASSIGNMENT OF AN AIRPORT GROUND LEASE AGREEMENT BETWEEN SHERADON CARTER AND THE CITY OF PARIS FOR HANGAR A-7 AT COX FIELD AIRPORT TO COLLIN HADLEY, MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City of Paris did heretofore, on the 15th day of April, 2019, authorize the execution and assignment of an Airport Ground Lease Agreement with Sheradon Carter for Hangar A-7 at Cox Field Airport ending June 22, 2049; and, WHEREAS, Mr. Carter has expressed his desire to assign and transfer all of his right, title and interest in said lease to Collin Hadley; and, WHEREAS, the form of the Assignment of Lease from Sheradon Carter to Collin Hadley, attached hereto as Exhibit "1", should, in all things be approved, and the City Manager should be authorized to acknowledge approval of said assignment by signing the same subject to the City's receipt of required insurance and a $400.00 annual lease payment; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the form of the Assignment of Lease from Sheradon Carter to Collin Hadley, attached hereto as Exhibit "1", for Hangar A-7 at Cox Field Airport, be, and the same is hereby, approved. Section 3. That the City Manager be, and he is hereby, authorized and directed to acknowledge approval, on behalf of the City of Paris, of the Assignment of Lease from Sheradon Carter to Collin Hadley, by signing the same in the form shown in Exhibit "1", attached hereto subject to the City's receipt of required insurance and a $400.00 annual lease payment.. Section 4. That this resolution shall be effective from and after its date of passage.