HomeMy WebLinkAboutReso. 1989-384 - Approving the first addendum to lease between the city of redding and redding aerotronics, inc • •
RESOLUTION NO. 39-13V4/
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
APPROVING THE FIRST ADDENDUM TO LEASE BETWEEN THE CITY OF
REDDING AND REDDING AEROTRONICS, INC. AT REDDING MUNICIPAL
AIRPORT, AND AUTHORIZING THE MAYOR TO SIGN SAME.
IT IS HEREBY RESOLVED byCity the Council of the Cityof
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Redding as follows:
1 . That the City Council of the City of Redding hereby
approves the First Addendum to Lease between the City of Redding
and Redding Aerotronics, Inc . , a true copy of which is attached
hereto and incorporated herein.
2 . That the Mayor of the City of Redding is hereby
authorized and directed to sign said First Addendum to Lease on
behalf of the City of Redding, and the City Clerk is hereby
authorized and directed to attest the signature of the Mayor and
to impress the official seal of the City of Redding.
• I HEREBY CERTIFY that the foregoing Resolution was
introduced and read at a regular meeting of the City Council of
the City of Redding on the 7th day of November , 1989 , and was
duly adopted at said meeting by the following vote:
AYES : COUNCIL MEMBERS: Buffum, Dahl , Johannessen, & Carter
NOES : COUNCIL MEMBERS : None
ABSENT: COUNCIL MEMBERS : Ful ton
ABSTAIN: COUNCIL MEMBERS : None
SCOTT CARTER, Mayor
City of Redding
ATTEST: FOR PPROVED:
ETHEL A. NICHOLS, City Clerk RA DALL A. HAYS , ity Attorney
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FIRST ADDENDUM TO LEASE
This First Addendum to Lease Agreement is made and entered
into as of the 7th day of November, 1989 , by and between the CITY
OF REDDING, a Municipal Corporation and General Law City, herein-
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after called "Lessor, " and REDDING AEROTRONICS , INC. , a
California Corporation, hereinafter called "Lessee" :
WITNESSETH:
WHEREAS, Lessor and Lessee entered into a Lease Agreement
dated April 1 , 1989 ; and
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WHEREAS , paragraph 4 (a) of said Lease provides that when the
existing aircraft parking apron was enlarged, the monthly rental
fee would be renegotiated by the parties to recover the costs of I'
said improvements; and ,E
WHEREAS , Lessor has provided the additional parking apron at
a total cost of $13 , 000 .00 ; and I
WHEREAS , Lessee agrees to reimburse Lessor for said costs of
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improvements; and
WHEREAS, the parties have negotiated the rental increase, it
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namely $113 . 75 per month, to be applied toward the costs of said
improvements; and
WHEREAS, Lessor and Lessee wish to amend paragraph 4 (a) of
said Lease Agreement, pursuant to the terms and conditions of
this First Addendum to Lease;
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NOW, THEREFORE, it is agreed between the parties hereto as
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follows:
1 . Paragraph 4 (a) of the Lease Agreement dated April 1 ,
1989 , is hereby amended to read as follows:
4 . Rent and Other Charges.
(a) Effective November 1 , 1989 , and until the
$13 ,000 .00 construction costs are recovered by Lessor,
the rent to be paid by Lessee to Lessor under this
Lease Agreement, including the first five-year renewal
term, shall be the sum of Six Hundred Eighty-one and
75/100 Dollars ($681 .75) per month, payable in advance
on the first day of each and every month during the
term of this Lease and the first five-year renewal
term, based upon simple five percent interest applied
over the initial five-year term of the Lease and the
first five-year renewal period. When the $13 ,000
construction costs have been recovered by Lessor, the
monthly rental fee to be paid by Lessee to Lessor will
then revert to its then evaluated rate.
In the event Lessee does not complete the initial
five-year term, or does not exercise the first
five-year option period, upon demand by Lessor and at
the end of Lessee' s term hereunder, Lessee will
reimburse Lessor with the . entire balance owing to it
Lessor for the costs of improvements .
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2 . The following paragraph numbered 40 is hereby added to
and incorporated into the Lease Agreement:
40 . Future Amendments . Future amendments to this
Agreement, if any, may be executed by the City Manager of
Lessor.
3 . All other terms and conditions of said Lease dated
April 1 , 1989 , shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have set their hands
in the presence of their officers duly authorized in that behalf
on the day and year set forth below.
CITY OF REDDING
By:
SCOTT CARTER, Mayor
REDDING AEROTRONICS , INC. ,
• a California Corporation
By:
MARTIN L. ELSHIRE, President
By:
BRIAN DYER, Vice-President
By:
STEVEN A. VOID, Secretary-
Treasurer
ATTEST: FORM APPROVED:
ETHEL A. NICHOLS , City Clerk RANDALL A. HAYS, City Attorney
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