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I~tergov~ent~ A6eement (Requ~s BOCC At, on)
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SIGNATURE
SILVIA DI:IVIS PITKIN COUNTY CO R 0.~0 0 ~,0~
, ,- PATIO SHELTER HANGAR LEASE AG~EMENTOO~CT
THIS PATIO SHELTER HANGAR LEASE AGREEMENT, is entered into and
effective this 17'h day of March, 21}03, by and between the PITKIN COUNTY BOARD OF
COUNTY COMMISSIONERS, a political subdivision of the State of Colorado ("BOCC") and
Lawrence Winnerman ("Lessee").
RECITALS
A. The BOCC owns and operates Sardy Field, the AsperffPitkin County Airport,
located in Aspen, Pitkin County, Colorado ("Airport").
B. Lessee, Lawrence Winnerman, wishes to lease a patio shelter-type hangar
located on the Airport, and to store aircraft owned or leased by the Lessee in that hangar.
NOW, THEREFORE, in consideration of the above Recitals and the mutual promises
and representations set forth below, the parties hereby agree as follows:
ARTICLE I. LEASED PREMISES
A. The BOCC hereby leases to Lessee, and Lessee hereby leases from the BOCC, a
parcel of real property located on the Airport designated of the following described size: Small,
to be designated as Patio Hangar Space No. B-16, to be as shown on the map to be attached
hereto as Exhibit A and incorporated herein by this reference when completed by the BOCC,
and any and all rights, privileges and appurtenances herein described as belonging to said space,
subject, however, to all restrictions and other encumbrances of record. The parcel of real
property shall hereinafter be referred to as the "Leased Premises".
B. Lessee is also granted the nonexclusive right to utilize such Airport rtmways,
taxiways, and public use aprons ("airfield areas"), and such other rights of way and access across
the Airport ("Airport rights of way"), as necessary for ingress and egress to its Leased Premises,
and to the extent necessary to enable Lessee to utilize the Leased Premises for the purposes
discussed herein. Lessee's use of said airfield areas and other Airport rights of way shall be on a
nonexclusive, non-preferential basis with other authorized users thereof. Lessee shall abide by
all directives of the BOCC, the Federal Aviation Administration ("FAA") and any other
governmental entity having jurisdiction over the Airport, governing their use of said airfield
areas and other Airport rights of way, either alone or in conjunction with other authorized users
thereof: Furthermore, the BOCC may from time to time increase or decrease the size or capacity
of any airfield areas and other Airport rights of way or facilities (other than the Leased Premises),
make alterations thereto, reconstruct or relocate them, modify the design and type of construction
thereof, or close them, or any portion or portions of them, either temporarily or permanently,
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without being liable for any damages that may be caused Lessee thereby, and without being
deemed to have terminated this Agreement as a result thereof.
C. BOCC reserves the right to subordinate the provisions of this Lease to the
provisions of any future agreement between the BOCC and the United States Government
relative to the operation, maintenance or development of the Airport which agreement may be
required as a condition precedent to the expenditure of Federal Funds tbr the development,
maintenance or operation of the Airport, if such an Agreement is entered into between the
County and the United States Government, the parties agree to execute an amendment to this
Lease so as to remove any material inconsistencies between this document and any agreement
with the United States Government. Furthermore, in the event that by reason of any such
agreement with the United States Government as aforesaid, it becomes necessary to modify,
relocate or remove any improvements or other structures situated on the Leases Premises, or to
move the Leased Premises itself; Lessee agrees to modify, relocate or remove any such
improvements or structures, or to move to a new location for the Leased Premises, as directed by
BOCC and BOCC shall compensate and reimburse Lessee for reasonable damages, costs and
expenses (including modification, removal or relocation costs) suffered or incurred by Lessee in
consequence thereof, if, due to the conditions of any agreement between the BOCC and the
United States government, the Leased Premises cannot be relocated at the Airport, the BOCC has
the right to terminate this lease upon sixty (60) days notice to the Lessee by paying to the Lessee
the then unamortized cost of the Lease as of the date of termination.
ARTICLE II. GRANT OF USE
A. The BOCC hereby grants Lessee the exclusive right to use the Leased Premises to
store aircraft owned or leased by Lessee, or by any entity in which the Lessee has a bona fide
ownership interest, and Lessee's automobile when the aircraft is in use. The Lessee understands
that restrictions, including any prohibition required by County, state or federal law, may apply to
the parking of automobiles. The restrictions will be at the discretion of the Airport Director. All
uses by the Lessee shall be in compliance with the rules and regulations of the Airport and with
all FAA regulations. The Lessee shall always keep the BOCC advised of the type of aircraft
stored in the Leased Premises, and the tail number of that aircraft. In addition, Lessee may sub-
let the Leased Premises subject to the conditions in Article XIX.
B. Lessee shall not use, nor permit others to use, the Leased Premises, and any
improvements thereon, to store automobiles or equipment unrelated to Lessee's use of the Leased
Premises under this Agreement; to fuel any aircraft or vehicles in any manner that would violate
the regulations of the Airport, or for any other purpose than Lessee's aeronautical services and
activities authorized by Subparagraph A above, unless the BOCC authorizes Lessee, in writing,
to use the Leased Premises, and any improvements thereon, for said additional purposes.
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ARTICLE Ill. TERM
A. The initial term of this Patio Shelter Hangar Lease Agreement shall be deemed to
commence at 12:0l a.m. on December 1, 2002 (the "commencement date") and shall terminate
at midnight on November 30, 2022. The Lessee may terminate the Lease upon sixty (60) days
notice to the BOCC, provided that in that event, the Lessee shall not be entitled to the return of
any prepaid unamortized cost of the Lease. if such dates are lel:t blank, then the "commencement
date" shall be that date upon which the Lessor notifies the Lessee in writing that the Patio
Shelters are available for occupancy, if the termination date is left blank, then such termination
date shall be twenty (20) years from the commencement date.
B. Notwithstanding the twenty-year term indicated in Paragraph A of this Article, the
BOCC, in its sole discretion and provided it converts and uses the Leased Premises for a purpose
other than for Patio Shelters, shall have the right to shorten the lease period from 20 years to as
short as 15 years or some period in between. To exercise this right the BOCC shall notify Lessee
in writing within 60 days of the end of the 15th year of the lease term of the BOCC's intent to
shorten the lease term and put the Leased Premises to another use and shall state what term, if
any, beyond the 15 years, remains on the lease. In the event that the BOCC does shorten the
lease pursuant to this paragraph, it shall have no obligation to pay Lessee for any unamortized
cost of the lease (the Buy Back Option Price referred to on Exhibit C).
ARTICLE IV. RENT AND OTHER FEES
A. Rent.
I. Prepaid Lease: The rent for the Leased Premises, and the method of payment
thereof, shall be as set forth in Exhibit B attached hereto and incorporated
herein by this reference. Any amounts listed on Exhibit B as "Full Down"
payments shall be paid as follows: 100 % (thirty three thousand dollars
and no cents ($33,000)) shall be paid at the time of execution of this Lease
by Lessee.
2. Monthly Operation and Maintenance Fee: A monthly O&M fee will be billed
to the lessee. The initial monthly fee will be: $111.00 per month
B. Miscellaneous Other Fees.
1. Lessee shall pay other operations fees, including administrative charges,
insurance, operation costs, utilities and maintenance charges and ground rent, common to the
patio shelter hangars. Furthermore, the Lessee shall pay separate electrical heating fees for any
engine heating done by the Lessee. All such operational fees, and electrical engine heating fees,
if any, shall be paid on a quarterly basis for the Leased Premises as established by the BOCC
based upon actual expenditures and actual electrical usage for the entirety of the patio shelter-
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type hangar each year. The operational tees shall be assessed in accordance with the schedule set
forth in Exhibit B. The ground rent set forth on Exhibit B shall automatically be increased by the
percentage increase in the Consumer Price Index - All Urban Consumers (CPI-U) - U.S. City
Average - All Rems, during the latest available preceding twelve (12) month period, or four
percent (4%), whichever is greater. If the CPI-U ceases to be published by the U.S. Department
or' Labor, the parties shall agree on a successor index representing the broadest national indicator
of consumer inflation. All such increases shall be cumulative, compounded annually; i.e. the
percentage shall be applied in each instance against the ground rent l~ees fi)r the preceding Lease
Year. All other expenses and lees shall be increased by the BOCC's actual expenditures
therefore, and notice o[' any increase shall be given to the Lessee on or befbre January 1~t of each
year of the Lease Term. The initial operational fees, which shall be valid until January l, 2004,
are set lbrth in Exhibit B.
C. Payment of Fees.
l. Payment of the initial prepaid lease shall be made payable to "Pitkin
County" and delivered to the county at its administrative offices located in the Airport's terminal
building. Monthly rent and other periodic charges shall be billed by and paid to Aspen Base
Operation. Aspen Base Operation will forward collected funds to the county.
D. Interest. Any ground rental or other monies owed to the BOCC under this Lease
Agreement which are not received when due, or any monies paid by the BOCC on Lessee's
behalf which were Lessee's responsibility under this Lease Agreement, shall accrue interest at the
rate of one and one-half percent (1½%) per month from the due date or date when the BOCC
made payment on Lessee's behalf, until receipt of full payment from Lessee. Any payments
received shall be applied first to accrued interest, and then to the reduction of the actual amounts
owed by Lessee.
ARTICLE V. IMPROVEMENTS
During the term of this Lease, Lessee shall have no right to construct any improvements,
alterations, or additions to the Leased Premises, or to any improvements presently located
thereon, in furtherance of Lessee's authorized use of the Leased Premises without the written
consent of the BOCC, which may be withheld at the discretion of the BOCC.
ARTICLE VI. MAINTENANCE AND UTILITIES
A. During the term of this Lease, Lessor shall, at its own expense, maintain and keep
all portions of the Leased Premises, and any improvements, fixtures and equipment which is part
of the Leased Premises, in good operating physical condition and repair.
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B. During the term of this Lease, Lessee agrees to keep Leased Premises in a sate
and clean condition, and to not permit any unsightly accumulation or' wreckage, debris, or trash
where visible to the general public visiting or using the Airport.
ARTICLE VII. DAMAGE TO AIRPORT
Lessee shall be liable for any damage to the Airport and to any improvements thereon
caused by Lessee, its officers, agents, employees, contractors, subcontractors, assigns,
subtenants, customers, guests, invitees, or anyone acting under its direction and control, ordinary
wear and tear excepted. All repairs l'or which Lessee is liable may be made by Lessee at its own
expense, provided that said repairs are made timely and to the BOCC's satisfaction as to the
quality of repair or, if not timely or satisfactorily made by Lessee, then by the BOCC at Lessee's
expense.
ARTICLE VIII. DEFAULT AND REMEDIES
A. Events of Default. The following shall constitute defaults by Lessee:
1. Failure to pay quarterly operational fees or electrical engine heating ~'ees,
or any other monies owed hereunder, or under any other agreements between the parties, when
such monies are due, and the failure to cure said delinquency within a period of ten (10) days
following written notice of said delinquency;
2. Any other failure in the performance of any covenant or obligation
required herein, and the failure to cure said delinquency within a period of thirty (30) days
following written notice of said delinquency;
3. The acquisition of Lessee's interest in this Lease Agreement by execution
or other process of law when said process of law is not discharged within fifteen (15) days
thereafter; and
4. Lessee's general assignment of its rights, title and interest hereunder for
the benefit of creditors; or the appointment of a receiver for Lessee's property if the appointment
is not vacated within ninety (90) days.
5. Filing by or against Lessee in any court pursuant to any statute either of
the United States or of any state, of a petition of bankruptcy or insolvency, or reorganization, or
the appointment of a receiver or trustee, of all or a portion of Lessee's property if, within sixty
(60) days after commencement of any such proceedings involving Lessee, such petition shall not
have been dismissed.
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B. Remedies Upon Default. Upon the occurrence of any of the events of det;ault set
forth in Subparagraph A above, the BOCC may exercise any one or more of the following
remedies. These remedies shall be cumulative and not alternative:
l. The BOCC may sue for specific performance;
2. The BOCC may sue ['or recovery of all damages incurred by the BOCC,
including incidental damages, consequential damages, if any, and reasonable attorneys' ['ecs;
3. The BOCC may terminate this Lease Agreement and, at the option of the
BOCC, any other agreement in effect between the parties. The termination of these agreements,
however, shall only be effective upon written notice of same provided by the BOCC to Lessee. In
no event shall this Lease be construed to be terminated unless and until such notice is provided.
The termination may be effective immediately upon provision of said notice, or at any other time
specified in the notice. In the event the BOCC terminates this lease the BOCC shall have no
obligation to pay Lessee for any unamortized cost of the lease (the Buy Back Option Price
referred to on Exhibit C). [f this Lease is terminated, Lessee shall continue to be liable for: (a)
the performance of all terms and conditions, including the payment of all monthly ground rent
and all other monies due or accrued hereunder prior to the effective date of said termination; and
(b) alt damages, including attorneys' fees and other expenses of collection, incurred as a result of
any default.
4. Without terminating the Lease by so doing, and without further notice to
Lessee, BOCC may re-enter the Leased Premises with or without process of law, repossess the
Leased Premises and all fixtures and improvements thereon, and remove Lessee and any third
parties who may be occupying or within the Leased Premises and all of their respective personal
property, by using either such reasonable force as may be necessary, summary proceedings,
ejectment, or any other means, the BOCC, in its sole discretion, deems appropriate without being
deemed guilty of any trespass, eviction, or forcible entry and detainer by so doing. In such case,
the BOCC shall be obligated to attempt, in good faith, to negotiate the reletting of the Leased
Premises, and any improvements thereon, or any portion thereof, on behalf of Lessee, for such
period of time and upon such terms and conditions as the BOCC deems appropriate. The BOCC
shall in no way be obligated under the terms of this subparagraph to relet all or any portion of the
Leased Premises, or any improvement thereon, to any third party, or upon terms and conditions,
that are not acceptable to the BOCC, or which the BOCC, in its sole discretion, does not feel to
be in the best interests of the Airport; nor shall the BOCC be responsible for any failure by the
sublessee or new tenant to pay rent or to pertbrm any other conditions due upon such reletting.
Lessee hereby expressly authorizes BOCC to make any reasonable repairs or renovations
necessary to retet the Leased Premises, or any improvements thereon, on Lessee's behalf.
Assuming BOCC attempts to relet the Leased Premises, in good faith, whether or not BOCC is
able to relet the Leased Premises, Lessee shall remain liable for the performance of all terms and
conditions of the Lease and the payment of all monies due under the Lease for the remainder of
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~hc lcaschold tc~, although Lcsscc ~hail receive credit t~ ~ny mo~ics paid or
pertb~ed as a result or' rele~ing. Lessee shall also be responsible ~r reimbursing the BOCC tbr
all costs and expenses the BOCC incurs in rele~ing or attempting to relet the Leased Premises,
including reasonable repair and renovation costs. Finally, if, as a result of such rele~ing, BOCC
becomes entitled to receive excess rentals or other benefits over ~d above what BOCC would
have been entitled to receive under this Lease Agreement, BOCC shall be entitled to retain ali
such surplus rentals and other benefits, ~d Lessee shall have no rights or interest therein.
5. The BOCC may utilize any other remedy provided by law or equity as a
result of any events of de~hult.
C. Force Majeure. Any defaults by either of the parties in the perfo~ance of any
the terms and conditions contained herein sh~l be excused where due to force majeure, which,
among other things, shall include nut,al catastrophes such as hu~icanes, tornadoes, or floods,
acts of God, acts of war, and governmental statutes, regulations, directives, or contracts
governing the operation of the Ai~o~. with which the BOCC or Lessee must comply.
ARTICLE IX. COMPLIANCE WITH STATUTES~ RLILES~
~GULATIONS~ DI~CTIVES
A. Lessee shall obse~e and obey all statutes, rules, regulations and directives
promulgated by the BOCC and other appropriate local, state and feder~ entities having
jurisdiction over the Ai¢om including the Federal Aviation Administration ("FAA") and the
Enviromental Protection Agency. Without limiting the fbregoing, Lessee agrees to milize its
Leased Premises, ~d the common areas of ~e Ai~o~, ~d all improvements thereon, in
compliance with the Federal Aviation Regulations, including all amendments hereaRer made,
embodied in 49 C.F.R. Pa~s 107 ~d 108, xvNch ~e specific~ly inco¢orated ~d made a pa~ of
this Lease Agreement. Lessee ~her agrees to perfo~ all of its operations authorized
hereunder in accordance with all of the te~s ~d conditions of the roles ~d regulations for the
Ai~o~ as the sine may be mended from time to time. If there is any inconsistency between
the terms of this Agreement, and the roles and regulations fbr the AlCott, the terms of this
Agreement shall control. Lessee further a~ees to comply with all verbal ~d written directives
of the Ai~o~ Director reg~ding Lessee's use of the Leased Premises, the Airpo~'s airfields and
ramps, ~d o~er common ~eas elsewhere on the Ai~o~.
B. Should Lessee, its officers, agents, employees, customers, guests, invitees,
subten~ts, assigns, contractors or subcon~actors violate any local, state or federal law, role or
regulation applicable to the Ai¢o~, ~d should said violation result in a dmage awed, citation
or fine against ~e BOCC, then Lessee shall ~lly reimb~se the BOCC for said damage award,
citation or fine ~d for all costs and expenses, including reasonable a~orneys' t~es, incuged by
BOCC in defending against or satis~ing the award, citation or fine.
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ARTICLE X. INSPECTION
At any time, the BOCC may inspect the Leased Premises, and any improvements,
fixtures or equipment thereon.
ARTICLE XI. QUIET ENJOYMENT
The BOCC expressly covenants and represents that upon payment of fees when due and
upon performance of all other conditions required herein, Lessee shall peaceably have, possess
and enjoy the Leased Premises and other rights herein granted, without hindrance or disturbance
from the BOCC, subject to the BOCC's various rights contained elsewhere in this Agreement.
ARTICLE XII. REPRESENTATIONS
The BOCC expressly covenants and represents that it is the owner of the Leased
Premises, and has the right and authority to enter into this Lease Agreement and grant the rights
contained herein to Lessee.
With respect to Lessee, the undersigned warrants and represents that he is authorized to
execute this Lease on Lessee's behalf and shall be bound as a signatory to this Lease by his
execution of this Lease.
ARTICLE XIII. WAIVER
Should Lessee breach any of its obligations hereunder, the BOCC nevertheless may
thereafter accept from Lessee any payment or payments due hereunder, and continue this Lease
Agreement in effect, without in any way waiving the BOCC's right to exercise and enforce all
available default rights hereunder, or any other remedies provided by law, for said breach. In
addition, any waiver by either party of any default, breach or omission of the other under this
Lease Agreement shall not be construed as a waiver of any subsequent or different default,
breach, or omission.
ARTICLE XIV. NOTICE
Any and all notices required herein to be made by either party to the other shall be written
notice made by depositing such notice, correctly addressed, via certified mail of the United States
of America, postage prepaid, and such notice shall be deemed to have been served on the date of
such depositing.
All notices to the BOCC shall be mailed to: James Elwood, AAE
Aspen Pitkin County Airport
0233 East Airport Road
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Aspen, CO 81611
All notices to Lessee shall be mailed to: Lawrence Winnerman
570 S. Riverside Ave.
Aspen, CO 81611
Each party may, from time to time, change the address to which notices to said party are
to be sent, by providing written notice of said change of address to the other party in accordance
with the procedure set forth in this Article.
ARTICLE XV. RELATIONSHIP OF PARTIES
It is understood that the BOCC is not in any way or for any purpose partner or joint
venturer with, or agent of, Lessee in its use of the Leased Premises or any improvements thereon.
ARTICLE XVI. PARTIAL INVALIDITY
If any term or condition of this Lease Agreement or the application thereof ro any person
or event shall to any extent be invalid and unenforceable, the remainder of this Lease Agreement
and the application of such term, covenant or condition to persons or events other than those ro
which it is held invalid or unenforceable shall not be affected and each term, covenant and
condition of this Lease Agreement shall be valid and be enforced to the fullest extent permitted
by law.
ARTICLE XVII. SUCCESSORS
The provisions, covenants and conditions of this Lease Agreement shall bind, and inure
to the benefit of, the legal representatives, successors and assigns of the parties hereto.
ARTICLE XVIII. ATTORNEYS' FEES~ COSTS
AND EXPENSES OF LITIGATION
In the event of a breach of this Lease Agreement, the breaching party shall pay to the
non-breaching party all reasonable attorneys' fees, costs and other expenses, incurred by the non-
reaching' party in enforcing its rights as a result of said breach.
ARTICLE XIX. ASSIGNMENT AND SUBLEASE
A. Lessee shall not assign its interest nor sublease the Leased Premises for an excess
of one (I) year, where the mount of the consideration paid to the Lessee is greater than the
portion of the then unamortized cost of the Lease attributable to that period, without first
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complying with the terms hereof. In the event that the Lessee desires to assign the Lease or to
sublease the Leased Premises for an excess of one (1) year, or if the consideration to be received
by the Lessee for the lesser period is greater than the difference between the Buy Back Option
Price at the end of the assignment or sublease period and that Buy Back Option Price at the
beginning of the assignment or sublease period, both as shown on Exhibit C attached hereto,
plus all operations fees and other amounts due hereunder for that period, and Lessee has received
a bona fide offer to do either, it shall first give written notice thereof to the BOCC, along with a
copy of the offer to sublease or assume the Lease, as the case may be. The BOCC shall then
have thirty (30) days to notify the Lessee of its intention to take over the Lease by paying to the
Lessee the Buy Back Option Price at the beginning of the applicable period as determ/ned from
Exhibit C attached hereto, and by paying the Lessee that Buy Back Option Price within sixty
(60) days of said notice. Should the BOCC fail to either notify the Lessee of its intention to
exercise its rights or once having d~)ne so, fail to pay all amoums due, the Lessee shall be tree to
consummate the assignment or sublease, as the case may be, in accordance with the of/er which
the BOCC has been notified about. No such assignment or sublease shall be valid unless the
assignee or sublessee, as the case may be, agrees to be bound by all of the terms and conditions
hereof. If an assignment is made, the Lessee shall be released from all further liability hereunder
for future obligations. All subsequent assignors and assignees shall be subject to this Article as if
they were the original lessee/assignor. The provisions hereof shall not apply to any assigm2ent
between two (2) current tenants in the patio shelter, who have the same lease terms, who desire to
exchange their respective Leased Premises, provided that the BOCC is given wTitten notification
of the exchange prior to the consummation thereof.
B. There shall be no sublease for a period of less than one (1) week except for any
sub-lease with Aspen Base Operation (or any future FBO) for the parking of transient aircraft.
Any subleases made pursuant to this sub-paragraph shall be limited to no more than 1bur (4)
times in any one calendar year.
ARTICLE XX. SURRENDER UPON TERMINATION
Upon the expiration or sooner termination of this Lease Agreement, for any reason
whatsoever, Lessee shall peaceably surrender to the BOCC possession of the Leased Premises,
together with any improvements, fixtures or personal property of the BOCC thereon, in as good a
condition as the Leased Premises, and improvements, fixtures and personal property were
initially provided to Lessee, ordinary wear and tear excepted, without any compensation
whatsoever, and free and clear of any claims of interest of Lessee or any other third party
whomsoever. Lessee shall restore the Leased Premises, and other improvements from which the
fixtures or property were taken (if the improvement involved is not also being removed fi*om the
Leased Premises), to good condition and repair.
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ARTICLE XXI. HAZARDOUS WASTE/ENVIRONMENTAL
POLLUTION
Lessee shall be solely responsible for the prevention, control and cleanup of all fuel, gas
and oil leaks and spills, hazardous waste, lavatory waste and other environmental pollution
caused by Lessee's operations in the Leased Premises, in accordance with applicable local, state
and federal laws and regulations, and it shall hold the BOCC harmless from said prevention,
control and cleanup costs and obligations. The parties each reserve their various claims and
defenses against one another for the cleanup of any environmental pollution that occurred on the
Leased Premises prior to the commencement date of Lessee's leasehold term hereunder. It is
noted that in the ordinary course of storing and parking aircraft that some minor fuel and oil
spillage shall occur and that Lessee shall have no extraordinary obligation for clean up of such
spills.
ARTICLE XXII. EMINENT DOMAIN
A. In the event that all or any portion of the Leased Premises is taken for any public
or quasi-public purpose by any lawful condemning authority, including the BOCC, exercising its
powers of eminent domain (or in the event that all or any portion of the Leased Premises is
conveyed to such a condemning authority in settlement and acceptance of such condemning
authority's offer to purchase all or any portion of the Leased Premises in connection with its
threat to take said areas under power of condemnation or eminent domain), the proceeds, ii' any,
from such taking or conveyance shall be allocated between the BOCC and Lessee according to
the applicable Colorado law of eminent domain; provided, however, that in the event of
condemnation, the Lessee shall be compensated no less than the unamortized cost of the Lease as
of the date of condemnation. If a portion of the Leased Premises is so taken or sold, and as a
result thereof, the remaining part cannot be used reasonably to continue the authorized purposes
contemplated by this Lease Agreement as set forth in Article II in an economically viable
manner, then this Lease Agreement shall be deemed terminated at the end of a period of sixty
(60) days following said taking or conveyance. In that event and at that time, Lessee shall
surrender the Leased Premises to the BOCC and all of the BOCC's fixtures and personal property
thereon, and Lessee may remove its improvements, fixtures and personal property located upon
the Leased Premises, in accordance with the provisions of Article XX above.
11 of 12 / ~
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BILVIfi OfivIs PITKIN COUNTY CO R 0.00 D 0,00
ARTICLE XXIII. RENEWAL
Other than Lessee's right of first refusal (if applicable) pursuant to Article IIIB above~
Lessee has no guaranteed or preferential right, as against other third parties, of reletting the
Leased Premises, or any improvements thereon, following termination of this Lease. Should
Lessee desire to relet the Leased Premises following the expiration or sooner termination of this
Lease, Lessee shall submit an application for lease in accordance with Airport leasing rules and
regulations in effect at that time. Lessee's application will be reviewed by the BOCC, along with
all other applications, if any, in accordance with then applicable Airport leasing rules and
regulations.
ARTICLE XXIV. GOVERNING LAW AND VENUE
This Lease shall be interpreted in accordance with the laws of the State of Colorado and
applicable federal law. Lessee further agrees that should either party believe it necessary to file
suit to interpret or enforce any provisions of this Agreement, the exclusive venue auld jurisdiction
for said lawsuit shall be in the Pitkin County, Colorado District Court, or if federal court
jurisdiction would be appropriate, then in the Federal District Court in Denver.
ARTICLE XXV. HOLDING OVER
If Lessee remains in possession of the Leased Premises after the expiration of this Lease
Agreement without any written renewal thereof, such holding over shall not be deemed as a
renewal or extension of this Lease Agreement but shall create only a tenancy from month to
month which may be terminated at any time by the BOCC upon thirty (30) days wTitten notice.
Such holding over shall otherwise be upon the same terms and conditions as set forth in this
Lease Agreement; provided, however, that the monthly rent shall be at a rate equal to One
Hundred Percent (100%) of the then current monthly rent ~br similar patio shelter hangar space to
the Leased Premises.
I2 of 12 I ~
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SILVI~ D~VIS PITKIN COUNTY CO R 0.00 D 0.00
ARTICLE XXVI. ENTIRE AGREEMENT
This writing, together with the exhibits attached hereto, is the entire agreement of the
parties regarding the establishment of their leasehold arrangements. No representations,
warranties, inducements or oral agreements previously made between the parties regarding the
establishment of their leasehold arrangements shall continue unless stated therein. This Lease
Agreement shall not be changed or modified, except in writing, signed by both parties.
DONE AND EXECUTED on the date first above written.
ASPEN/PITKIN COUNTY AIRPORT LESSEE
C:\home\steve\Patio Shelters\Revised Basic Patio Shelter Lease L Winnerman.doc
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~ $ILVIR DClVI$ PITKIN COUNTY CO R ~,~0 D 0.00
G~- ~ ...... ,.~ c 2 ~ ~-'~'~c'-'~, ~-p~ ........... ~' ~ ~, ~] c--,, 1' c--~ .~ ic--9~~ c-~'_~ ~ ~Fc-~ .... c-~ c-~I c-~-~ 'r "-~"~
l~'-:t-t IE:,IT "A"
Page: 15 o~' 19
04/~3/20~3 ~3:~6F
SILVlR DRVlS PITKIN COUNTY CO R ~.~ D 0.1B~
Patio Shelter Hanger Lease
Exhibit B Pre-Construction Phase
Shelter Numbers
Shelter Numbers (To Re Determined) .~ ~ l~
Size
Small Medium Large X Large. XX Large XXX Large
Select Patio Shelter Size: ~1 ~' I I I I
Payment Option: "Full Down"
Amount Due upon Lease Signing
Monthly Charges
I Monthty O&M and Administrative Fees f$28, $32 $35 $38I $43I $52
Monthly Ground Rent ~ ~ $831-. $96 $106 $116 $131 $156
Total Monthly Ground, O&M and Admin. Fees~ I /" $111 [ t $127 $141 $154 $174 $208
Plus Electrical @ $35/month/Engine for DeCl-March.
~Monthly Ground, O&M, Administrative Fees and Electrical Costs are subject to yearly escalation and/or change pursuant to
Article IV., Paragraph
Patio Shelter Hanger Lease Agreement - Exhibit C
Amortization Schedule
For BOCC Buy Back Option
The Table Below Lists the
"BUY BACK OPTION PRICE" for different size shelters at the end of each Month
Size: Small [ Medium [ Large I X Large I XX Large t XXX Large
End of Unit Price "Full Down Amount"
Year Month $ 33,000 $ 38,000 $ 42,000 $ 46,000 $ 52,000 $ 62,000
1 1 $ 32,896 $ 37,880 $ 41,867 $ 45,855 $ 51,836 $ 61.804
2 $ 32,791 $ 37,760 $ 41,734 $ 45,709 $ 51,671 $ 61608
3 $ 32,686 $ 37,638 $ 41,600 $ 45,562 $ 51,505 $ 61,410
4 $ 32,580 $ 37,516 $ 41,465 $ 45,414 $ 51,338 $ 61,211
5 $ 32,473 $ 37,394 $ 41,330 $ 45,266 $ 51,170 $ 61,010
6 $ 32,366 $ 37,270 $ 41,193 $ 45,116 $ 51,001 $ 60,809
7 $ 32,258 $ 37,146 $ 41,056 $ 44,966 $ 50,831 $ 60,607
8 $ 32,150 $ 37,021 $ 40,918 $ 44,815 $ 50,660 $ 60,403
9 $ 32,041 $ 36,895 $ 40,779 $ 44,663 $ 50,489 $ 60.198
10 $ 31,931 $ 36,769 $ 40,640 $ 44,510 $ 50,316 $ 59~992
11 $ 31,821 $ 36,642 $ 40,499 $ 44,356 $ 50,142 $ 59,784
12 $ 31,710 $ 36,514 $ 40,358 $ 44,201 $ 49,967 $ 59.576
2 13 $ 31,598 $ 36,386 $ 40,216 $ 44,046 $ 49,791 $ 59,366
14 $ 31,486 $ 36,256 $ 40,073 $ 43,889 $ 49,614 $ 59,155
15 $ 31,373 $ 36,126 $ 39,929 $ 43,732 $ 49,436 S 58 943
16 $ 31,259 $ 35,996 $ 39,785 $ 43,574 $ 49,257 $ 58.730
17 $ 31,145 $ 35,864 $ 39,639 $ 43,414 $ 49,077 $ 58,515
18 $ 31,030 $ 35,732 $ 39,493 $ 43,254 $ 48,896 $ 58.299
19 $ 30,914 $ 35,598 $ 39,346 $ 43,093 $ 48,714 $ 58,082
20 $ 30,798 $ 35,465 $ 39,198 $ 42,931 $ 48,530 $ 57.863
21 $ 30,681 $ 35,330 $ 39,049 $ 42,768 $ 48,346 $ 57,644
22 $ 30,564 $ 35,194 $ 38,899 $ 42,604 $ 48,161 $ 57,423
23 $ 30,445 $ 35,058 $ 38,749 $ 42,439 $ 47,974 $ 57,200
24 $ 30,326 $ 34,921 $ 38,597 $ 42,273 $ 47,787 $ 56,977
3 25 $ 30,207 $ 34,783 $ 38,445 $ 42,106 $ 47,598 $ 56,752
26 $ 30,086 $ 34,645 $ 38,291 $ 41,938 $ 47,408 $ 56,525
27 $ 29,965 $ 34,505 $ 38,137 $ 41,769 $ 47,218 $ 56,298
28 $ 29,843 $ 34,365 $ 37,982 $ 41,600 $ 47,026 $ 56,069
29 $ 29,721 $ 34,224 $ 37,826 $ 41,429 $ 46,833 $ 55,839
30 $ 29,597 $ 34,082 $ 37,669 $ 41,257 $ 46,638 $ 55,607
31 $ 29,473 $ 33,939 $ 37,512 $ 41,084 $ 46,443 $ 55,374
32 $ 29,349 $ 33,796 $ 37,353 $ 40,910 $ 46,247 $ 55,140
33 $ 29,223 $ 33,651 $ 37,193 $ 40,736 $ 46,049 $ 54,905
34 $ 29,097 $ 33,506 $ 37,033 $ 40,560 $ 45,850 $ 54,668
35 $ 28,970 $ 33,360 $ 36,871 $ 40,383 $ 45,650 $ 54,429
36 $ 28,843 $ 33,213 $ 36,709 $ 40,205 $ 45,449 $ 54,189
4 37 $ 28,714 $ 33,065 $ 36,546 $ 40,026 $ 45,247 $ 53,948
38 $ 28,585 $ 32,916 $ 36,381 $ 39,846 $ 45,043 $ 53,706
Page: 1.6 of' 19
Page 1 of 4 04/03/2003 03: 061=
SILVIR DRVIS PITKIN COUNTY CO R e.00 D 0.00
Size: Small I Medium I Large I X Large I XX Large
End of Unit Price "Full Down Amount"
39 $ 28,455 $ 32,767 $ 36,216 $ 39,665 $ 44,839 $ 53462
40 $ 28,325 $ 32,616 $ 36,050 $ 39,483 $ 44,633 $ 53,216
41 $ 28,193 $ 32,465 $ 35,882 $ 39,300 $ 44,426 $ 52.969
42 $ 28,061 $ 32,313 $ 35,714 $ 39,116 $ 44,218 $ 52.721
43 $ 27,928 $ 32,160 $ 35,545 $ 38,930 $ 44,008 $ 52,471
44! $ 27,795 $ 32,006 $ 35,375 $ 38,744 $ 43,798 $ 52.220
45 $ 27,660 $ 31,851 $ 35,204 $ 38,557 $ 43,586 $ 51,968
46 $ 27,525 $ 31,695 $ 35,032 $ 38,368 $ 43,373 $ 51,713
47 $ 27,389 $ 31,539 $ 34,859 $ 38,178 $ 43,158 $ 51.458
48 $ 27,252 $ 31,381 $ 34,684 $ 37,988 $ 42,943 $ 51,201
5 49 $ 27,114 $ 31,223 $ 34,509 $ 37,796 $ 42,726 $ 50,942
50 $ 26,976 $ 31,063 $ 34,333 $ 37,603 $ 42,507 $ 50.682
51 $ 26,837 $ 30,903 $ 34,156 $ 37,409 $ 42,288 $ 50.420
52 $ 26,697 $ 30,742 $ 33,977 $ 37,213 $ 42,067 $ 50~157
53 $ 26,556 $ 30,579 $ 33,798 $ 37,017 $ 41,845 $ 49,893
54 $ 26,414 $ 30,416 $ 33,618 $ 36,819 $ 41,622 $ 49,626
55 $ 26,271 $ 30,252 $ 33,436 $ 36,621 $ 41,397 $ 49,358
56 $ 26,128 $ 30,087 $ 33,254 $ 36,421 $ 41,172 $ 49,089
57 $ 25,984 $ 29,921 $ 33,070 $ 36,220 $ 40,944 $ 48.818
58 $ 25,839 $ 29,754 $ 32,886 $ 36,018 $ 40,716 $ 48.546
59 $ 25,693 $ 29,586 $ 32,700 $ 35,814 $ 40,486 $ 48~272
60 $ 25,546 $ 29,417 $ 32,513 $ 35,610 $ 40,255 $ 47.996
6 61 $ 25,399 $ 29,247 $ 32,326 $ 35,404 $ 40,022 $ 47,719
62 $ 25,250 $ 29,076 $ 32,137 $ 35,197 $ 39,788 $ 47,4,40
63 $ 25,101 $ 28,904 $ 31,947 $ 34,989 $ 39,553 $ 47,159
64 $ 24,951 $ 28,731 $ 31,755 $ 34,780 $ 39,316 $ 46.877
65 $ 24,800 $ 28,557 $ 31,563 $ 34,569 $ 39,078 $ 46.593
66 $ 24,648 $ 28,382 $ 31,370 $ 34,357 $ 38,839 $ 46,308
67 $ 24,495 $ 28,206 $ 31,175 $ 34,144 $ 38,598 $ 46,021
68 $ 24,341 i $ 28,029 $ 30,980 $ 33,930 $ 38,356 $ 45,732
69 $ 24,186 $ 27,851 $ 30,783 $ 33,714 $ 38,112 $ 45,441
70 $ 24,031 $ 27,672 $ 30,585 $ 33,498 $ 37,867 $ 45,149
71 $ 23,875 $ 27,492 $ 30,386 $ 33,280 $ 37,620 $ 44,855
72 $ 23,717 $ 27,311 $ 30,185 $ 33,060 $ 37,372 $ 44,560
7 73 $ 23,559 $ 27,128 $ 29,984 $ 32,840 $ 37,123 $ 44,262
74 $ 23,400 $ 26,945 $ 29,781 $ 32,618 $ 36,872 $ 43,963
75 $ 23,240 $ 26,761 $ 29,578 $ 32,395 $ 36,620 $ 43,662
76 5 23,079 $ 26,575 $ 29,373 $ 32,170 $ 36,366 $ 43,360
77 $ 22,917 $ 26,389 $ 29,167 $ 31,944 $ 36,111 $ 43,055
78 $ 22,754 $ 26,201 $ 28,959 $ 31,717 $ 35,854 $ 42,749
79 $ 22,590 $ 26,012 $ 28,751 $ 31,489 $ 35,596 $ 42,441
80 $ 22,425 $ 25,823 $ 28,541 $ 31,259 $ 35,336 $ 42,132
81 $ 22,259 $ 25,632 $ 28,330 $ 31,028 $ 35,075 $ 41,820
82 $ 22,092 $ 25,440 $ 28,118 $ 30,795 $ 34,812 $ 41,507
83 $ 21,925 $ 25,246 $ 27,904 $ 30,562 $ 34,548 $ 41,192
84 $ 21,756 $ 25,052 $ 27,689 $ 30,326 $ 34,282 $ 40,875
8 85 $ 21,586 $ 24,857 $ 27,473 $ 30,090 $ 34,015 $ 40,556
86 $ 21,415 $ 24,660 $ 27,256 $ 29,852 $ 33,746 $ 40,235
87 $ 21,244 $ 24,463 $ 27,038 $ 29,613 $ 33,475 $ 39.913
88 $ 21,071$ 24,264 $ 26,818 $ 29,372 $ 33,203J $ 39 588
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SILVIR DC~VIS PITK~'N COUNTY CO R 0.00 D 0,00
E Size: Small I Medium I Large I X Large I XX Large
nd of Unit Price "Full Down Amount"
89 $ 20,897 $ 24,064 $ 26,597 $ 29,130 $ 32,929 $ 39,262
90 $ 20,723 $ 23,862 $ 26,374 $ 28,886 $ 32,654 $ 38,934
91 $ 20,547 $ 23,660 $ 26,151 $ 28,641 $ 32,377 $ 38,603
92 $ 20,370 $ 23,457 $ 25,926 $ 28,395 $ 32,098 $ 38,271
93 $ 20,192 $ 23,252 $ 25,699 $ 28,147 $ 31,818 $ 37.937
94 $ 20,014 $ 23,046 $ 25,472 $ 27,898 $ 31,537 $ 37,601
95 $ 19,834 $ 22,839 $ 25,243 $ 27,647 $ 31,253 $ 37,263
96 $ 19,653 $ 22,630 $ 25,013 $ 27,395 $ 30,968 $ 36,923
9 97 $ 19,471 $ 22,421 $ 24,781 $ 27,141 $ 30,681 $ 36.582
98 $ 19,288 $ 22,210 $ 24,548 $ 26,886 $ 30,393 $ 36,238
99 $ 19,104 $ 21,998 $ 24,314 $ 26,629 $ 30,103 $ 35.892
100 $ 18,919 $ 21,785 $ 24,078 $ 26,371 $ 29,811 $ 35.544
101 $ 18,732 $ 21,570 $ 23,841 $ 26,112 $ 29,517 $ 35,194
102 $ 18,545 $ 21,355 $ 23,603 $ 25,850 $ 29,222 $ 34,842
103 $ 18,356 $ 21,138 $ 23,363 $ 25,588 $ 28,925 $ 34,488
104 $ 18,167 $ 20,920 $ 23,122 $ 25,324 $ 28,627 $ 34,132
105 $ 17,976 $ 20,700 $ 22,879 $ 25,058 $ 28,326 $ 33,774
106 $ 17,785 $ 20,479 $ 22,635 $ 24,791 $ 28,024 $ 33,413
107 $ 17,592 $ 20,257 $ 22,389 $ 24,522 $ 27,720 $ 33,051
108 $ 17,398 $ 20,034 $ 22,143 $ 24,251 $ 27.415 $ 32,687
10 109 $ 17,203 $ 19,809 $ 21,894 $ 23,979 $ 27,107 $ 32.320
110 $ 17,006 $ 19,583 $ 21,644 $ 23,706 $ 26,798 $ 31,951
111 $ 16,809 $ 19,356 $ 21,393 $ 23,431 $ 26,487 $ 31.580
112 $ 16,610. $ 19,127 $ 21,140 $ 23,154 $ 26,174 $ 31.207
113 $ 16,411 t$ 18.897 $ 20,886 $ 22,875 $ 25,859 $ 30,832
114 $ 16,210 $ 18,666 $ 20,631 $ 22,595 $ 25,543 $ 30,455
115~ $ 16,008 $ 18,433 $ 20,373 $ 22,3t4 $ 25,224 $ 30.075
116 $ 15,804 $ 18,199 $ 20,115 $ 22,030 $ 24,904 $ 29,693
117 $ 15,600 $ 17,964 $ 19,855 $ 21,745 $ 24,582 $ 29,309
118 $ 15,394 $ 17,727 $ 19,593 $ 21,459 $ 24,258 $ 28,923
119 $ 15,188 $ 17,489 $ 19,330 $ 21,171 $ 23,932 $ 28,534
120 $ 14,980 $ 17,249 $ 19,065 $ 20,881 $ 23,604 $ 28143
11 121 $ 14,770 $ 17,008 $ 18,799 $ 20,589 $ 23,274 $ 27,750
122 $ 14,560 $ 16,766 $ 18,531 $ 20,296 $ 22,943 $ 27,355
123 $ 14,348 $ 16,522 $ 18,261 $ 20,001 $ 22,609 $ 26,957
124 $ 14,135 $ 16,277 $ 17,990 $ 19,704 $ 22,274 $ 26.557
125 $ 13,921 $ 16,030 $ 17,718 $ 19,405 $ 21,936 $ 26,155
126 $ 13,706 $ 15,782 $ 17,444 $ 19,105 $ 21,597 $ 25,750
127 $ 13,489 $ 15,533 $ 17,168 $ 18,803 $ 21,255 $ 25,343
128 $ 13,271 $ 15,282 $ 16,891 $ 18,499 $ 20,912 $ 24,934
129 $ 13,052 $ 15,029 $ 16,612 $ 18,194 $ 20,567 $ 24,522
130 $ 12,831 $ 14,776 $ 16,331 $ 17,886 $ 20,219 $ 24,108
131; $ 12,610 $ 14,520 $ 16,049 $ 17,577 $ 19,870 $ 23,691
132 $ 12,387 $ 14,263 $ 15,765 $ 17,266 $ 19,518 $ 23,272
12 133 $ 12,162 $ 14,005 $ 15,479 $ 16,953 $ 19,165 $ 22,850
134 $ 11,937 $ 13,745 $ 15,192 $ 16,639 $ 18,809 $ 22,426
135 $ 11,710 $ 13,484 $ 14,903 $ 16,323 $ 18,452 $ 22,000
136 $ 11,481 $ 13,221 $ 14,613 $ 16,004 $ 18,092 $ 21,571
137 $ 11,252 $ 12,956 $ 14,320 $ 15,684 $ 17,730 $ 21,140
138 $ 11,021 $ 12,691 $ 14,026 $ 15,362 $ 17,366 $ 20706
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f Size:l Small I Medium I Large I X Large I XX Large I XXX Large 1
End of Unit Price "Full Down Amount"
139 $ 10,788 $ 12,423 $ 13,731 $ 15,038 $ 17,000 $ 20,269
140 $ 10,555 $ 12,154 $ 13,433 $ 14,713 $ 16,632 $ 19,830
141 $ 10,320 $ 11,883 $ 13,134 $ 14,385 $ 16,261 $ 19,388
142 $ 10,083 $ 11,611 $ 12,833 $ 14,055 $ 15,889 $ 18.944
143 $ 9,845 $ 11,337 $ 12,531 $ 13,724 $ 15,514 $ 18,497
144 $ 9,606 $ 11,062 $ 12,226 $ 13,391 $ 15,137 $ 18,048
13 145 $ 9,366 $ 10,785 $ 11,920 $ 13,055 $ 14,758 $ 17,596
146 $ 9,124 $ 10,506 $ 11,612 $ 12,718 $ 14,377 $ 17,141
147 $ 8,880 $ 10,226 $ 11,302 $ 12,379 $ 13,993 $ 16,684
148 $ 8,635 $ 9,944 $ 10,991 $ 12,037 $ I3,607 $ 16,224
149 $ 8,389 $ 9,660 $ 10,677 $ 11,694 $ 13,219 $ 15,762
150 $ 8,142 $ 9,375 $ 10,362 $ 11,349 $ 12,829 $ 15,296
151 $ 7,892 $ 9,088 $ 10,045 $ 11,002 $ 12,437 $ 14,828
152 $ 7,642 $ 8,800 $ 9,726 $ 10,652 $ 12,042 $ 14,357
153 $ 7,390 $ 8,510 $ 9,405 $ 10,301 $ 11,645 $ 13,884
154 $ 7,136 $ 8,218 $ 9,083 $ 9,948 $ 11,245 $ 13,408
155~ $ 6,881 $ 7,924 $ 8,758 $ 9,592 $ 10,843 $ 12,929
156 $ 6,625 $ 7,629 $ 8,432 $ 9,235 $ 10,439 $ 12,447
14 157 $ 6,367 $ 7,332 $ 8,103 $ 8,875 $ 10,033 $ 11,962
158 $ 6,107 $ 7,033 $ 7,773 $ 8,513 $ 9,624 $ 11~475
159 $ 5,846 $ 6,732 $ 7,441 $ 8,150 $ 9,213 $ 10,984
160 $ 5,584 $ 6,430 $ 7,107 $ 7,784 $ 8,799 $ 10,491
161 $ 5,320 $ 6,126 $ 6,771 $ 7,416 $ 8,383 $ 9,995
162 $ 5,054 $ 5,820 $ 6,433 $ 7,045 $ 7,964 $ 9,496
163 $ 4,787 $ 5,513 $ 6,093 $ 6,673 $ 7,543 $ 8994
164 $ 4,519 $ 5,203 $ 5,751 $ 6,299 $ 7,120 $ 8,489
I65 $ 4,248 $ 4,892 $ 5,407 $ 5,922 $ 6,694 $ 7,982
166 $ 3,976 $ 4,579 $ 5,061 $ 5,543 $ 6,266 $ 7.471
167 $ 3,703 $ 4,264 $ 4,713 $ 5,162 $ 5,835 $ 6,957
168 $ 3,428 $ 3,947 $ 4,363 $ 4,778 $ 5,402 $ 6,440
15 169 $ 3,151 $ 3,629 $ ' 4,011 $ 4,393 $ 4,966 $ 5,921
170 $ 2,873 $ 3,308 $ 3,657 $ 4,005 $ 4,527 $ 5,398
171 $ 2,593 $ 2,986 $ 3,301 $ 3,615 $ 4,086 $ 4,872
172 $ 2,312 $ 2,662 $ 2,942 $ 3,223 $ 3,643 $ 4,343
173 $ 2,029 $ 2,336 $ 2,582 $ 2,828 $ 3,197 $ 3,811
174 $ 1,744 $ 2,008 $ 2,220 $ 2,431 $ 2,748 $ 3,276
175 $ 1,457 $ 1,678 $ 1,855 $ 2,032 $ 2,297 $ 2,738
176 $ 1,169 $ 1,347 $ 1,488 $ 1,630 $ 1,843 $ 2,197
177 $ 880 $ 1,013 $ 1,119 $ 1,226 $ 1,386 $ 1,653
178 $ 588 $ 677 $ 748 $ 820 $ 927 $ 1,105
179 $ 295 $ 340 $ 375 $ 411 $ 465 $ 554
180 $ 0 $ (0) $ 0 $ 0 $ 0 $ 0
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