HomeMy WebLinkAbout051-Sanford Air. Auth. adden.1 V-05
ADDENDUM NO. � TO
AIRPORT LEASE AGREEMENT
THIS ADDENDUM, entered into thisk� day o fi -pfd p12.61, by and
between the City of Sanford, Florida, a Florida Municipal Corporation, hereinafter
referred to as the "City" and the Sanford Airport Authority, an agency of the City created
by Special Act of the State of Florida, hereinafter referred to as the "Authority."
WITNESSETH:
WHEREAS, the City and the Authority entered into an Airport Lease Agreement
on August 16, 1996, for the Orlando Sanford Airport (the "Airport");
WHEREAS, the Airport Lease Agreement had a term of thirty -five (35) years
which commenced retroactively on October 1, 1995; and
WHEREAS, the Authority has a need to be able to offer thirty (30) year leases to
potential investors, lenders and tenants in order to generate economic development at
the Airport; and
WHEREAS, the Airport Lease Agreement currently has less than a thirty (30)
year term remaining and the City desires to assist the Authority in order to generate
economic development in and around the Airport; and
WHEREAS, the Authority has requested and the City has agreed to extend the
Airport Lease Agreement for an additional five (5) years, or until September 30, 2035;
and
WHEREAS, the Authority represents to the City that it is in compliance with all of
the terms, conditions and covenants set forth in the Airport Lease Agreement,
NOW, THEREFORE, in consideration of the sum of Ten Dollars ($10.00), the
mutual promises and covenants contained herein, as well as other good and valuable
consideration not specifically mentioned, the parties agree as follows:
1. Article I, LEASE AND USE OF AIRPORT is amended to extend the term for an
additional five (5) years, ending on September 30, 2035.
2. Except as modified above, all of the terms and conditions of the Airport Lease
Agreement shall remain in full force and effect.
Witnesses:
CITY OF SANFORD
BY:
rady Less rd, Mayor
as to form and legality on
2001. /7
Attest:
ity Clerk
Attest:
ry A. Dale, Pres /CEO
Willi6nT - 1. Ccydert, City Attorney
City of Sanf rd, Florida
SANFORD AIRPORT AUTHORITY
t
BY:
William R. Miller, Chairman
Approved as to form and legality on
1 2001.
Stephen p H. Coover - Authority Attorney
Witnesses: