Laserfiche WebLink
I 8.I.a I <br /> 1990-029C <br /> CONSENT TO ASSIGNMENT OF AIRPORT HANGAR LEASE AGREEMENT <br /> (CITY OF PRESCOTT CONTRACT NO. 1990-029, AS AMENDED) <br /> FROM RITT-AIRE <br /> TO co <br /> JDS Family Limited Partnershipco <br /> CD <br /> WHEREAS, the City of Prescott ("City") entered an Airport Hangar Lease Agreement <br /> with Ritt-Aire ("Assignor"), an Arizona limited liability company, and Assignor now desires to <br /> assign its Airport Hangar Lease Agreement to JDS Family Limited Partnership ("Assignee"), <br /> an Arizona limited partnership; and <br /> WHEREAS, , historically, the Assignor acquired ownership of a hangar under a Lease <br /> Agreement between the City and Arizona Flight School Inc., dated April 13, 1990 (City Contract <br /> No. 1990-029). The Lease was amended January 24, 1995, and assigned o Arizona Pacific <br /> Aviation, Inc. (City Contract No. 1990-029A) The Lease was further amended on July 30, <br /> 1996 (City Contract No. 1990-029AS). The Lease was assigned from Arizona Pacific Aviation, <br /> Inc., to Rittaire, LLC, on July 22, 1997. (City Contract No. 1990-029A1). The Lease was <br /> amended on May 11, 1999. (City Contract No. 1990-029B). City Contract No. 1990-029, along <br /> with all subsequent amendments are collectively referred to as the "Lease Agreement" in this r <br /> document; and, y <br /> WHEREAS, Article 5 of the Lease Agreement requires the City to consent to any <br /> assignment of the Lease Agreement; and <br /> U <br /> WHEREAS, as part of this Consent to Assignment, the Assignee will abide by all of the o <br /> original terms and conditions of the Lease Agreement, as amended; and <br /> WHEREAS, the Assignee has satisfactorily provided proof of financial stability, proof ° <br /> of appropriate plans for use of the hangar, proof of legal authority to bind Assignee and has made o <br /> appropriate provisions to pay the requisite transfer fee. <br /> NOW, THEREFORE: <br /> U <br /> 1. The City consents to the assignment of the Lease Agreement (City Contract No. <br /> 1990-029) from Ritt-Aire LLC, an Arizona limited liability company, to JDS Family <br /> Limited Partnership, an Arizona limited liability partnership. <br /> 2. All other terms and conditions of the original Lease Agreement(City Contract <br /> No.1990-029, as amended) shall remain in full force and effect. <br /> Packet Pg. 127 <br />