CC - Agendas - City Council - REGULAR - 8/14/2018

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Contract No. 2011-003A1 AMENDMENT NUMBER ONE TO AIRPORT GROUND LEASE WITH GUIDANCE HELICOPTERS, INC. THIS AMENDMENT NUMBER ONE TO AIRPORT GROUND LEASE, is by and between the CITY OF PRESCOTT, an Arizona municipality (hereinafter referred to as "City" and/or "Lessor") and GUIDANCE HELICOPTERS, INC. (hereinafter referred to as "Guidance" and/or "Lessee"). Lessor and Lessee may be jointly called the "Parties", or individually, the "Party". WHEREAS, City and Guidance entered into an Airport Ground Lease 2011-003, on July 10, 2011, ("Lease"), whereby the City leased to Guidance certain property at the Prescott Municipal Airport; and, WHEREAS, the current lease has a ten (10) year term, with two five year options to extend the term; and WHEREAS, the current Lease, with the ten (10) year term is set to expire on July 12, 2020; and, WHEREAS, the parties wish to mutually amend the Lease to extend the term of the Lease until July 12, 2030; and eliminating any renewal options; and, WHEREAS, amending the Lease is in the best interest of the public health, safety and welfare. NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, City and Lifeline agree to mutually amend Lease Agreement 2011-003, effective immediately upon execution of this Amendment Number One, and to modify Lease Agreement 2011-003 as follows: SECTION ONE. THAT ARTICLE III (TERM; EXTENSION OPTIONS) as currently contained in Lease Agreement 2011-003 is stricken in its entirety and shall now (2011-003A1) provide as follows: