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09-B Air Direct Lease Addendum No. 1
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09-B Air Direct Lease Addendum No. 1
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Last modified
8/29/2012 1:51:11 PM
Creation date
1/24/2008 10:00:08 AM
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AGENDA
Item Number
09-B
AGENDA - Type
RESOLUTION
Description
Addendum No. 1 to Leease with Air Direct extending term for 2 additional years.
AGENDA - Date
1/28/2008
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ADDENDUM NUMBER ONE TO LEASE AGREEMENT <br />DATED OCTOBER 9, 1995, <br />BETWEEN MARK BUSTER (ASSIGNED TO AIR DIRECT, LLC) <br />AND THE CITY OF PARIS, TEXAS <br />STATE OF TEXAS ) <br />) KNOW ALL MEN BY THESE PRESENTS: <br />COUNTY OF LAMAR ) <br />That this Addendum to Lease Agreement dated October 9, 1995, between Mark Buster <br />(Assigned to Air Direct, LLC) and the CITY OF PARIS, TEXAS, made this 28th day of <br />January, 2008, by and between Air Direct, LLC, by and through its Managing Member, David <br />Jones, duly authorized, and the CITY OF PARIS, TEXAS, by and through its 1Vlayor, Jesse <br />James Freelen, duly authorized, does hereby amend the above described Lease Agreement by <br />amending the third and forth un-numbered paragraphs so that such shall read as follows: <br />"The initial term of this Lease is for THIRTY-SEVEN (37) years <br />beginning on the 15" day of October, 1995, and ending on the 14`h day of <br />October, 2032. <br />It is further agreed to by LESSOR and LESSEE that LESSEE shall <br />have the option to renew such Lease for an additional period of TEN (10) <br />years. The rental for the renewal term to be agreed upon by the parties <br />and to be at the end of the initial term based on the fair market value of the <br />property at the time of renewal, being October 15, 2032." <br />EXECUTED on this the 28th day of January, 2008. <br />ATTEST: <br />Janice Ellis, City Clerk <br />CITY OF PARIS, PARIS, TEXAS <br />Jesse James Freelen, Mayor <br />EXHIBIT A_ <br />
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