The URL can be used to link to this page

Home My WebLink Aboutbocc.con.058.1978 r s� - -;;:f-`.; � , . � 'V..�... � . . ......� '._ . . . . . . . t�t ��[,�-: Recorded aC o'r.lock �.M., itook_ PnEc �,',�,' '=q�;. Reception No. Itecorder �:'� FIRST NATIONAL BANK IN ASPEN ` • A 5 S I G N M C N T 0 F L E A S E i= . . ' ' .- �' TO SECURE .SUSIN ESS LOAN • ' ' ' ' S:y � 5��78� � � � ;; ASSIGNMENT OP'�.EASG (hereinafter "Assignment") made between FIRST NATIONAI. BANK IN � ASPEN (hereinafter "Assignee") and ' , ;� B & R RESTAUttANTS d/b/a The Culinary Corner � u n � (hereinafter Tenant ) ,s . � � - and BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY. COLOiilwO (hereinafte= °Landlord"). �g . • � * FOOD SERVICE AND MAGAZINE-NEWSSTAND�� AGREEMEIdT ' . W I T N C S S E T H: � - FOR VALUE RECEIVED, in consideration for and as an inducement to Assignee lending � ?; funds to Tenant (hereinafter "Loan") and for the benefits to be derived by Landlord by use � ; of said funds in the business of Tenant, the parties hereto agree as follows: fi ;� 1. Landlord and Tenant hereby represent to Assignee that: �. �p. 1.1 Tenant has heretofore leased from Landlord by lease made [he 22nd • � day of Mav , 19�g_, approximately square feet in the � �� 3 , (hereinafter "Premises") for a term couuuencing the 14th day of Mav + F� 19 78. and expiring the 14th day of Mav , 19 7 2, (herrinafter r, "Lease"). -"j 1.2 Said Lease is (i) in full force and effect, (ii) has not been modified ' or amended,•and (iii) no default exicts with respect to any of the terms and conditions � `�`� . thereaf. . � {q 1.3 Landlord and Tenant will not by agreement or atherwise between them � �� modify or terminate the Lease without the consent of Assignee having been first obtained, � ;,j, provided that the Consent of Assignee shall not be unreasonably withheld. . � �? 1.4 Landlord agrees to subordinate any lien it may now or hereafter have on q ty any fumiture, fixtures, equipment, or inventory in the premises to any lien to be granted � ;� to Assignee by Tenant covering said personalty for purposes of securing the Loan, or any �� renewals or extensions thereof. � x �± • 1.5 In event of any default hy Tenant under any of the terms or conditions b i'� of the Lease, the Landlord will without prejudice to any rights it may have against Tenant � . �� give Aasignee a fifteen (15) day notice of said default and the right at the option of ,°�� Aesignee during said period to cure the default and that during said fifteen (15) day period � ;a Landlord will take no action to enforce its rights against Tenant. :':. f3 ;:. � 5 '� 1.6 Landl�rd is duly authorized and empowered to join and consent to this s "> ` Assignment. Tenant is duly authorized and empowered to grant and perform this Assignment. � ;� � '; 2. Tenant with the consent of Landlord hereby assigns, transfezs� sets. over� and � _;f . .conveys to Assignee all its right, title, and interest in and to the Lease to have and hold b }�% the same for and durins the term thereof and all renewals and extensians thereof for so � :�� long as Tenant is indebted to Assignee, SUBJECT, HOWEVER, TO THE FOLLOWING TERt�1S AND CON- f� DITIONS: - ;;; 2.1 The Assignment shall become effective at the sole option of Assignee s; and without notice to Landlord or Tenant in the event of any default under the terms and i''; conditions of the Loan, any renewals or extensions thereof, or any other agreement made in ;4; connection therewith or in the event of any default by Tenant under the terms and conditions � of the Lease. :S; 2.2 In the event thia Assignment-becomes effective, Aaeignee shall have the right, but not the obllgation, acting without notice and wiCh 1lcense to uee such reasonable _ force as may be necessary to enter upon and take poeaession of the premises which are the `?` eub�ect of the Lease and to do any one or more of the following: - �'' ' �: �` a. Pay any and all rents then due and owing Landlord, all rents so paid �.,; �= then becoming so much add3tional indebtedness then due Aseignee with the Loan together with y�' intereet thereon at the rate of 12X. ' • . • , • ;,, . b. Hold sule, public or private, in the premises or remove therefrom FOI:M: 011 F.N.IS. �/B/75 (R�v. 10/15/7G) Pctge 1 , ::;;k+"": - _. '�wr�{�`:: - "��r;, - . c« , , � . .. .. .. .._ . . .. .. .� .. � � . . 5�. xl s�i all the properl•y oE.'Cennnl• wl�icli is covered by �my security ht;recment. made for ehe benef.iC' `-: of Assignce for thc purposes of eccurinp, tl�c I.onn, or �ny renewals or extenslong thcreoE. :� t;� � s. ", c. Managc and operate the business of 'Cenant and collecC tl�c rents, ?_;� � income, and profits tl�erefrom. . . . , . • . • . � ,;E - � d. Scll tliis 7.ease together witlt tlie business,of Tenant as a going con- , cern subject, }iowever, to the approval of Laudlord, wliicl� approval shall not be unreason- ; ably withheld. _;� '! 3. Tenant hereby agrees to indemnify Assignee and hold it harmless.from any and ; t ;;; all liability arising from satd Lease or from this Assignment. � Y ' � 4. The exerclse of any one or more of the rights granted to Assignee hereunder or � this Assignment itself shall not be construed eiCl�er expressly or impliedly as a promise or - covenant by Assignee to be liable for the performance oY any of the terms and conditions of � Tenant under said Lease. � - � 5. If the Loan secured hereby is now or hereafter further secured by additional securities, any default under this Assignment, and Assignee may, at its option, exhaust any one or more of said securities as well as the security hereunder, either concurrently or independently and in such order as it may detennine, and may apply the proceeds received therefrom upon said Loan without waiving or affecting the status of any breach or default of any othe'r right or power whether contained herein or exercised hereunder or whether con- tained in or exercised under any other security. i 6. No Eailure by Assignee to insist upon the strict performance of any terms af � ; this Agreement or the Loan secured hereby or to exercise any option, right, or remedy con- sequent upon a breach thereof shall constitute a waiver thereof. :7 . � 7. Each right and remedy of Assignee provided for in this Assignment shall be ; cumulative and shall be in addition to every other right or remedy provided for in this � � Assignment or now or hereafter existing at law, or at equity, or by statute or otherwise. ; The exercise or beginning of the exercise by Assignee of any one or more of the rights or f remedies provided for in this Assignment or noW or hereafter existing at law, or at equity, � or by statute or otherwise shall not preclude the simultaneous or later exercise by Assignee r of any or all other rights or remedies provided for in this Assignment or now or hereafter .� � existing at law, at equity, or by statute or otherwise. , e, . � f 8. . This Assignment shall be binding upon and inure to the benefit of the personal . � ; representative, successors, and assigns of the parties hereto. Y � � THIS ASSIGNMENT made and entered into this 26th day of Julv , 19 78 . , � . ASSIGNEE: � � First National Bank in Aspen . , _� =8;�-�'�e;�-l�---��— . R. BRUCE ROBINSON, Assistant Vice-President • - � . ' � . � _ . ' _ . � # . LANDLORD: � COUNTY OF PITKIN, STATE OF COIARADO, by and through . � its So�. Pof Coun Co is ao 3`'` � 'Y By-f�,��1�`,�,/°��J.�' � � � ROBk�` W. CHILD, Chairman ' � ;-�' .� . " By , . a i1 . � � TENANT: g & R RESTTURANTS d/b/a The Culinary Corner � -'� 7 t � /^ -�� / /� By CG . /"3 Lt"G a a�(:�'L tLl•' � ` ; BRIAN J. BLnNQtt� Partner • . �s BY �ll��', �� , . � � RANDY GOI,D,! Pyrtncr � • ' � � RDIt/kdZ • Fueri: ot� r.N.n. 9/A/75 (�tev. io/�s/7c�) r:��;� z =:�,. "�'