HomeMy WebLinkAbout1977-05 Authorizing to Execute the First Amendment to the Lease Agreement with Vail Resort Association for Lease by Vail Resort Association of Premises in the Vail Transportation Centeri
RESOLUTION N0. ~,~
Series of 1977
A RESOLUTION AUTHORIZING THE ACTING TOWN
MANAGER TO EXECUTE THE FIRST AMENDMENT
TO THE LEASE AGREEMENT BETWEEN THE TOWN
OF VAIL AND THE VAIL RESORT ASSOCIATION
FOR LEASE BY VAIL RESORT ASSOCIATION OF
PREMISES IN THE VAIL TRANSPORTATION
CENTER
WHEREAS, the Town and the Vail Resort Association
entered into a lease agreement for certain premises within the
Vail Transportation Center and dated January 12, 1975; and
WHEREAS, the parties to that lease agreement have
agreed to certain amendments thereto;
NOW, THEREFORE, BE TT RESOLVED BY THE TOV+'N COUNCIL
OF THE TOWN OF VAIL, COLORADO, THAT:
1) The Town Council hereby authorizes the Acting
Town Manager to execute the proposed first amendment to the
lease agreement between the Town of Vail and the Vail Resort
Association for certain premises within the Vail Transportation
Center and the Town Clerk to attest to said execution.
adoption.
2) This resolution shall take effect upon its
INTRQDUCED, READ, APPROVED, AND ADOPTED, this 1St
day of March, 1977.
ATTE~riT
v
Town Clerk
a or `~ ~-
I
FIRST AMENDMENT
TO LEASE AGREEMENT BETWEEN
TOWN OF VAIL and VAIL RE5ORT ASSOCIATION
dated JANUARY 12, 1975
THIS AGREEMENT, entered this 19th day of February,
1977, between the TOWN OF VAIL, COLORADO, a Colorado municipal
corporation, hereinafter referred to as the "Town" and THE VAIL RESORT
AS5OCIATION, a Colorado nonprofit corporation, hereinafter referred
to as the "Lessee";
WTTNESSETH:
WHEREAS, on January 12, 1975, the parties hereto entered
into a Lease Agreement concerning certain premises located in the
Town's Transportation Center;
WHEREAS, since that time certain work has been required
for the air handling unit to accommodate air quality and temperature
needs of the Lessee;
WHEREAS, the total cost thereof, $23,x+00.00, was to
be split between the parties with the Town paying $7,800.00 and the
Lessee $15,600.00;
WHEREAS, the Town has agreed that the Lessee's portion
of said cost may be paid to the Town in monthly installments at 8
per cent interest aver a period of ten years; and
WHEREAS, the .Lessee has agreed to pay its portion
of said cast as provided above and that said ten year period shall
commence January 1, 1977, and shall continue to December, 198b;
NOW, THEREFORE, in consideration of the recitals,
covenants and agreements contained herein and the payment of monies
as hereinafter set forth, the parties hereto mutually agree as follows:
A) The Lease Agreement between the parties hereto,
dated January 12, 1975, for those premises located in the Vail
T" .
FIRST AMENDN~NT PAGE 2
Transportation Center is hereby amended by the addition of the
following:
1) The Town and the Lessee agree that the Lessee
owes to the Town the sum of $15,600.00 for the Lessee's portion of
the cost of a new air handling unit to serve the premises leased
to the Lessee.
2) The Lessee agrees to pay and the Town agrees
to accept said sum in 120 monthly installments at $ per cent interest.
The first monthly payment shall be paid on January 1, 1977, and thereinafter
on the first of each succeeding month to and including December 1,
198b. Each monthly payment shall be $189.28 including principal
and interest.
3) The monthly payment to be paid by the Lessee
as specified in subparagraph (A) (2) above shall be in addition to
the regular rental or other charges provided in the Lease Agreement
between the parties.
E) All other terms and conditions of the Lease
Agreement between the parties, dated January l2, 1975, unless expressly
modified herein, remain in full. force and effect.
TN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be made on the day and year first above written.
TOWN OF VAIL, COLORADO
A T:
l
Town Clerk /' / ~}c-F~i~~ Town Manager
VAIL RESORT ASSOCIATION
ATTES.T;.
Secretary! I
gy:____
President