HomeMy Public PortalAbout1977_04_13_R055 TOWN OF LEESBURG
IN
LOUDOUN COUNTY, VIRGINIA
PRESENTED
RESOLUTION NO. 77-55 ADOPTED
A RESOLUTION:
~pril 13~ 1977
April 13, 1977
AUTHORIZING AND APPROVING TERMINATION OF TRANSAMERICAN
AIRPORTS, INC. LEASE
RESOLVED by the Council of the Town of Leesburg, Virginia,
as follows:
An agreement memorializing the termination of the Trans-
American Airports, Inc. lease at Leesburg Municipal Airport is
hereby authorized and approved as follows:
Ail of the leases held by TransAmerican Airports, Inc.
and Chantilly Aviation, Inc. at Godfrey Field, Lees-
burg, Virginia, are terminated as of February 2, 1977,
at 10:30 p.m. The Town of Leesburg is now the complete
fee simple owner of the property which formerly com-
prised the leases, and the Companies shall claim no in-
terest in this property henceforth.
e
The Companies shall be authorized to continue to occupy
the lease, however, until 12:00 p.m., February 20, 1977.
®
The Companies, after February 20, 1977, shall be author-
ized to occupy the small aircraft storage hangar until
June 1, 1977, after which time they will completely va-
cate the small aircraft storage hangar.
The Town will bill and attempt to collect the February
tie-down rentals at TransAmerican's prevailing rate.
Of the tie-down fees collected, the proceeds will be
divided between the Town and the Companies on a 50-50
basis. After the amount due to the Companies has been
determined, a check will be made payable to Hall, Mona-
han, Engle, Mahan & Mitchell, Attorneys for the Com-
panies, and such payment shall be made as soon as is
reasonably practical after the tie-downs have been col-
lected. The Town should know that Hall, Monahan, Engle,
Mahan & Mitchell has a filed Perfected Security Interest
in all of the accounts receivable and receivables of the
Companies; thus, no other creditor's assertion of any lien
in or to these tie-down fees would be valid.
-2-
®
The Town will attempt to collect all accounts receivable
which remain outstanding and payable to the Companies.
The Town shall be authorized to retain 10% of the a-
mounts collected, and as soon as is reasonably practical,
will draw a check payable to Hall, Monahan, Engle, Mahan
& Mitchell, Attorneys for the Companies. The Town should
be advised that the Security Interest referred to in
Paragraph 4 will also apply to these receivables.
PASSED this 13th day of April
, 1977.
ATTEST:
Ma~ A~ne Newman,
Town of Leesburg
/ ·
Clerk of ~ncil