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Home My Public Portal AboutORD10809 HILL NO. 86-206 is SPONSORED BY COUNCILMAN HALSEY ORDINANCE NO. / SO 9 AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI AUTHORIZING THE MAYOR AND CITY CLERIC TO APPROVE THE ASSIGNMENT OF REAL ESTATE LEASE AND AGREEMENT AND THE AMENDMENT TO FIXED BASE OPERATOR LEASE AGREEMENT TO CENTRAL BANK FOR JEFFERSON CITY FLYING SERVICE, INC. BE IT ENACTED BY THE COUNCIL OF THE CITY OF JEFFERSON, MISSOURI, AS FOLLOWS: Section 1. The Mayor and Clerk are hereby authorized and directed to approve the Assignment of Real Estate Lease and Agreement and the Amendment to Fixed Base Operator Lease Agreement to Central Bank for Jefferson City Flying Service, Inc. Section 2 . The Assignment and Amendment shall be substantially the same in form and content as that attached hereto as Exhibits A and B, respectively. Section 3. This Ordinance shall be in full force and effect from and after -the date of its passage and approval. Passed � ��Jc; f`;�7 '� Approved Pre VIding Offictr ayor ATTEST: .. City Clerk R AMENDMENT TO FIXED BASE OPERATOR LEASE AGREEMENT This is an amendment to the Fixed Based Operator Lease Agreement between The City of Jefferson and Jefferson City Flying Service, Inc. , Terry Rackers, Bill Ward and Ben Ames dated December 17, 1966 ( "Release" ) . Lessor acknowledges that Lessees are the owners of the improvements (consisting of a hangar and office building) located on the real property which comprises the leased premises. Lessor agrees that Lessees may grant a security interest to The Central Trust Bank, Jefferson City, Missouri, in and to the Lessees ' rights related to improvements and personal property under Article VIII of the Lease and that Lessees may assign said rights along with any payments made by Lessor under paragraph D AM of Article Y of the Lease to The Central Trust Bank to secure the indebtedness of Lessees or any of them to The Central Trust Bank related to said improvements or personal property. IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed as of the 3rd day of February 1937 at Jefferson City, Missouri. LESSEE: JEFFERSON CITY FLYING SERVICE, INC. . By P-tesident Bill Ward r t: t . . . +! !2 f r�fl t I{� ,fIr•.,.:'t r }r:F.t (.h. 4��7(;; #:.U:)Jtht lr S.}.rr,r.,.}i.ihx (. -06t:�, w.4n•� r�fF! Ben Ames xl Terry R ers LESSOR: THE CITY OF JEFFERSON • ,r')Lr f'M1 ' •' ! .1 � � � It +� 1' >7 y'y. - r ..r �° r t 5 J tyt.f �`y fr. �ii�rt ut ri d5i�fl�tdt Baru j,. g r r�+ ^ ^ r.r' iJ t' r '�'SK-,;4fi�;r. :��( �,,."r .jamnC rah`f,' '�f�if�$S' `•+ � Mk�£r•; .. 1.,. i �� ,. r w„� .. S�t:!��F 11 7 ,.w. ..�”�!; ,r,,C.• ? r r .�p 1--,,aR•�'� }'��L.u'.h Xt�f1,0y�;?�� Y�r 5tt'$gtt�� +f �r}^...xr�u ,�g`4' ��i i'M� 7 :t, ..,.si i .. c.�•4NM�sAi;..L i��1,.��„�r�a.•.r�AF'tLh'{(i:�+i�T�.•�fii�.�',(1-'.� t., �.��i��i �.-r-Mo .. MNfi,. ASSIGNMENT OF REAL ESTATE LEASE AND AGREEMENT This Assignment of Lease and Agreement is made and entered into by and between the JEFFERSON CITY FLYING SERVICE, INC. , BILL WARD, TERRY RACKERS, AND BEN AMES, Lessee (hereinafter called "Borr'ower" ) ;. THE CITY OF JEFFERSON (hereinafter called "Lessor" ) ; and THE CENTRAL TRUST BANK (hereinafter called "Assignee" ) . WITNESSETH: WHEREAS, Lessee has heretofore leased from Lessor certain real property by lease dated January 21, 1957, recorded in Book �, Page , of the records of the County of Callaway, State of Missouri for an initial term of five years, together with renewal options, and described in a copy of said lease which is attached hereto as an exhibit; and WHEREAS, Assignee has extended credit to and contemplated the extension of further credit to Borrower to be used for construct.in of an addition on Lessee's building located on the leased premises; and WHEREAS, such extension of credit will benefit Lessor in that the funds will benefit Lessee's business conducted on the leased premises; NOW, THEREFORE, for and in consideration of the premises and of disbursement of said loan or any part thereof., Borrower and Lessee with the consent of Lessor hereby Assigns, Transfers, and Conveys unto Assignee the lease above described, to have and to hold the same for and during the remainder of the term mentioned in the lease, and all renewals and extension of said term. A. Borrower, Lessee, and Lessor further Covenant and Agree: 1. Lessee is not now in default in the performance of lease; and Lessee and Lessor will each perform the covenants and conditions required of him by said lease for the term of said loan and any extensions or renewal of it. 2 . Except as= otherwise herein permitted, Lessee and Lessor will not, alone or by agreement -between them, modify or terminate said lease without consent of Assignee. 3. In the event of default by Lessee under the terms of said lease, Lessor shall have the right to terminate said lease in accordance with its terms, provided, however, Lessor shall first give Assignee 60 days written notice of such default and the right, at the option of Assignee, during such period, to cure such default; and during such period, Lessor will take no � 7 EL w ry'4. action to enforce its claim arising from such default without Assignee's consent. 4. In the event of any default by Borrower and Lessee in the performance of any of the obligations of his note to Assignee evidencing the aforesaid loan, any renewal or extension thereof, or any other agreement made in connection therewith, including his agreements herein, then, Assignee, at its option, may, without notice, using such force as may be necessary, enter said leased premises and do any one or more of the following: a. Remove all property of Borrower and Lessee therefrom that is hypothecated as collateral for its aforementioned loan, subject to the provisions of Article VIII of the said Lease. b. Sell the property referred to in Paragraph a. on said premises: C. Transfer and assign said lease and Lessee's rights therein to parties satisfactory to Lessor, and upon assignment, the obligations of said lease shall be binding on said transferee. In the event Assignee shall only undertake the options provided in Paragraph a. or b. , it shall have no obligation other than payment of rent accruing during the period of its posseession of the premises . In the event Assignee shall make transfer of said lease as provided in Pargraph c. , Assignee will cure all defaults in said lease, and its sole other obligation shall be the payment of rent which accrued prior to the transfer of said lease. B. Lessor hereby represents and warrants that title to said leased premises is held by the City of Jefferson in fee simple and that it has full power and authority to enter into this Agreement. C. This Agreement shall be binding upon and inure to the benefit of the personal representatives, successors, and assigns of the parties hereto. Witness our hands and sears this 3rd day of February � 1987 . 2 M. r LESSEE and BORROWER: JEFFERSON CITY FLYING SERVICE, INC. By l ..�. F"resi ent - William S. Ward 1 � Bill War 4w "94r Ben Ames Terry R kers LESSOR: THE CITY OF JEFFERSON By '1 /; e ,��. ASSIGNEE: THE CENTRAL TRUST BANK By l--' 3 AML milli r � A ' x x1 4 d .t.y i,✓S�.0 1 i tJ��iS�t i t 4 ��1'°� �c'•�f'rr r d4 y+ YJ�tly,td�} `f .V '� i f.„. J1.. ,/��F,�'i•��J%•V t �` .L �1`tj�`k'�\. r 1 r'j t ,.h �'f �! • •� � +5� ,1 t `'�jSS'..f�;�1�}'�.r,l �'��,"•} �i.�',if.l 7 li s i .t..��nr,rv.l.it;,t:...;:1..�;�. `t", „•. � .. .. .:}Y.. '+•,' 'jp., ..., .. ,,•� r t 'C•,+i�;7 v,,h,�t• 3kr9Ee`.••.`Sr�t s� td7. 5, .�, of�*i :.� � ., ��ti r�" ., .. .. ,. '�e.e i.1ry �. �. .'!rl �1,1t�� /:iitr�b.r�+�r t t t 1•�}( S}`.t•��