HomeMy WebLinkAboutbocc.con.140.2007
CLERK'S CHECK LIST
FOR CONTRACTS SUBMlTrED TO CLERK AND RECORDER FOR
SCANNING/ARCHIVING
CONTRACT #: 140-2007
Originating Department/Division: Airport
Contact Person: Jim Elwood
Project Name: Patio Shelter Lease
D BOCC AGENDA ITEM
(BOCC signature required)
Phone #: 429-2851
IZISTAFF AUTHORIZED SIGNATURE
(per Revised Procurement Code 712005)
Check procurement~e:
DNone IZIInformal DFormal DSole Source DEmergency DState Bid D
Check Contrad Tvoe:
Dollar Amount: $6,720
DServicesIMaintenance
DLicense/Use
IZlLease
DConstruction
DGoods, Equipment, Supplies
DOther (e.g. revenue)
Contractor/Business N/A
Contract Execution 9/1/2007
Automatic Renewal N
Budget Line ItemlLedger Nnmber 404.69.91458.63999
DEmployment (for county employees)
DIntergovernmental Agreement (Requires BOCC Action)
DNon-Profit
DQuasi-Public
DGrant Agreements (Requires BOCC Action)
DChange Order/Contract Amendment
Complete Name: Obermeyer Asset Management
Contract End Date: 8/31/2008
Term of Contract: 9/1/2007-8/31/2008
All Contracts should be proofed for the following:
lZINo Pages Missing
IZIIf a Page is Left Intentionally Blank -Note on Page
IZIPage numbered consecutively
~AlI Signatures Affixed
IZIAlI Dates Filled In
IZIAlI Other Blanks Filled In
~AlI Exhibits Attached
IZIAll Legal Descriptions Attached (if appropriate)
DNotice of AwardlProceed Attached (if appropriate)
DSpecial Instructions for Finance Department:
IZISent to Clerk and Recorder for Scanning/Archiving
IZIAuthorized Staff Person's Name: Jim Elwood
BY CHECKING ABOVE AND ENTERING NAME, THE AUTHORIZED STAFF
PERSON INDICATES THAT DOCUMENT HAS BEEN PROOFED AND READY
FOR SCANNING.
Note: Clerk's Office will keep original documents in compliance with Colorado State
Archives retainage schedule.
Amended 10_16_06
1'11'1.
RECEPTION#: 542123, 09/17/2007 at
04:22:44 PM,
1 OF 13, R $0.00 Doc Code LEASE
Janice K. Vos Caudill, Pitkin County, CO
PATIO SHELTERIL\NGAR
ANNUAL LEASE AGREEMENT
TIDS PATIO SHELTER HANGAR LEASE AGREEMENT, is entered into and
effective this (day of moth, Year,) by and between the PITKIN COUNTY BOARD OF
COUNTY COMMISSIONERS, a political subdivision of the State of Colorado ("BOCC")
and [Obermeyer Asset Management Comp.any] ("Lessee").
RECITALS
A. The BOCC owns and operates Sardy Field, the AspenlPitkin County Airport,
located in Aspen, Pitkin County, Colorado ("Airport").
B. Lessee, [Wally Obermeyer], 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 on the Airport designated of the following described size: [Medium], to
be designated as Patio Hangar Space No. A-13, 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 Prentses".
B. Lessee is also granted the nonexclusive right to utilize such Airport runways,
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
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. permanently, 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 Allport which agreement may be
required as a condition precedent to the expenditure of Federal Funds for the development,
maintenance or operation of the Allport, 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 Allport 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 XXI.
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.
ARTICLE III. TERM
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ARTICLE m. TERM
A. The initial term of this Patio Shelter Hangar Lease Agreement shall be deemed to
commence at 12:01 a.m. on (September 1"t, 2007") and shall terminate at midnight on (August
31"t, 2008). The Lessee may terminate the Lease upon thirty (30) 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. The Lessee may extend the term of the contract on a monthly
basis in the event that a Small shelter is anticipated to be purchased within 6 months of this
termination date.
ARTICLE IV. RENT AND OTHER FEES
A. Rent.
1. The monthly rent for the Leased Premises shall be: [$560.00]. The initial
rent shall consist of the first month's rent, the last month's rent and a security deposit equivalent
to one month's rent. Rent will be paid in advance and will be billed monthly. The Lessor may
increase the monthly rent once per year. Any changes made in the monthly rent will be noticed
prior t<> January I sl of each year and shall be in effect for the remainder of the year.
B. Payment of Fees.
1. All billing for monthly payments for ground rent and other costs will be made
by Atlantic Aviation, on behalf of the BOCC. Payment will be made to Atlantic Aviation, who
will forward the collected payments to the BOCC.
C. 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 (1 Ji2%) 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.
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B. During the term of this Lease, Lessee agrees to keep Leased Premises in a safe
and clean condition, and to not permit any unsightly accumulation of 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 for 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, ifnot 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 montbly operational fees or electrical engine heating fees,
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 Ullon Default. Upon the occurrence of any of the events of default set
forth in Subparagraph A above, the BOCC may exercise anyone or more of the following
remedies. These remedies shall be cumulative and not alternative:
1. The BOCC may sue for specific performance;
2. The BOCC may sue for recovery of all damages incurred by the BOCC,
including incidental damages, consequential damages, if any, and reasonable attorneys' fees;
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. If 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) all 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 tJI.e 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 perform any other conditions due upon such reletting.
Lessee hereby expressly authorizes BOCC to make any reasonable repairs or renovations
necessary to relet 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
the leasehold term, although Lessee sball receive credit for any monies paid or conditions
performed as a result of reletting. Lessee shall also be responsible for reimbursing the BOCC for
all costs and expenses the BOCC incurs in reletting or attempting to relet the Leased Premises,
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including reasonable repair and renovation costs. Finally, if, as a result of such reletting, BOCC
becomes entitled to receive excess rentals or other benefits over and above what BOCC would
have been entitled to receive under this Lease Agreement, BOCC shall be entitled to retain all
such surplus rentals and other benefits, and 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 default.
C.
Force Maieure. Any defaults by either of the parties in the performance of
any of the terms and conditions Gontained herein shall be excused where
due to force majeure, which, among other things, shall include natural
catastrophes such as hurricanes, tomadoes, or floods, acts of God, acts of
war, and governmental statutes, regulations, directives, or contracts
governing the operation of the Airport, with which the BOCC or Lessee
must comply.
ARTICLE IX. COMPLIANCE WITH STATUTES. RULES.
REGULATIONS. DIRECTIVES
A.
Lessee shall observe and obey all statutes, rules, regulations and directives
promulgated by the BOCC and other appropriate local, state and federal
entities having jurisdiction over the Airport, including the Federal
Aviation Administration ("FAA") and the Environmental Protection
Agency. Without limiting the foregoing, Lessee agrees to utilize its
Leased Premises, and the common areas of the Airport, and all
improvements thereon, in compliance with the Federal Aviation
Regulations, including all amendments hereafter made, embodied in 49
C.F.R. Parts 107 and 108, which are specifically incorporated and made a
part of this Lease Agreement. Lessee further agrees to perform all of its
operations authorized hereunder in accordance with all of the tenns and
conditions of the rules and regulations for the Airport as the same may be
amended from time to time. If there is any inconsistency between the
terms of this Agreement, and the rules and regulations for the Airport, the
tenns of this Agreement shall control. Lessee further agrees to comply
with all verbal and written directives of the Airport Director regarding
Lessee's use of the Leased Premises, the Airport's airfields and ramps, and
other common areas elsewhere on the Airport.
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B. Should Lessee, its officers, agents, employees, customers, guests, invitees,
subtenants, assigns, contractors or subcontractors violate any local, state or federal law , rule or
regulation applicable to the Airport, and should said violation result in a damage award, citation
or fine against the BOCC, then Lessee shall fu11y reimburse the BOCC for said damage award,
citation or fine and for all costs and expenses, including reasonable attorneys' fees, incurred by
BOCC in defending against or satisfying the award, citation or fine.
ARTICLE X. INSPECTION
At any time, the BOCC may inspect the Leased Premises, and any improvements,
fixtures or equipment thereon.
ARTICLE XI. OUIET ENJOYMENT
Tbe 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 distuIbance
from the BOCC, subject to the BOCC's various rights contained elsewhere in this Agreement.
ARTICLE XII. REPRESENTATIONS
Tbe 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 bOlmd as a signatory to this Lease by his
execution of this Lease.
ARTICLE XIII. WAIVER
Should Lessee breach any of its obligatious 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'sright 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
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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: Airport Director
AspenlPitkin County Airport
0233 East Airport Road
Aspen, CO 81611
All notices to Lessee shall be mailed to: Obermeyer Asset Management CO.
Obermeyer Place
501 Rio Grande PI. Suite 107
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 PARTffiS
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 to 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 to
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
bylaw.
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.
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ARTICLE xvm. 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.
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 from the
Leased Premises), to good condition and repair.
ARTICLE XXI. HAZARDOUS WASTEIENVIRONMENTAL 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 enviromnental 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 enviromnental 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.
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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 pmpose 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 condenming authority in settlement and acceptance of such condemning
autlJority'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, if 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 rflln~;n;ng part cannot be used reasonably to continue the authorized pmposes
contemplated by this Lease Agreement as set forth in Article II in an economically viable
manner, then this Lease Agreement shall be deemed tenniuated 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 XXIII above.
ARTICLE XXIII. RENEWAL
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 tlJe State of Colorado and
applicable federal law. Lessee further agrees that should eitlJer party believe it necessary to file
suit to inteIpret or enforce any provisions of this Agreement, the exclusive venue and jurisdiction
for said lawsuit shall be in tlJe 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 tlJe expiration of tlJis Lease
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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 BOee upon thirty (30) days written 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 for similar patio shelter hangar space
to the Leased Premises.
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 tiIeir 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.
ASPENIPITKIN COUNTY.AlRPORT
LESSEE
By:
By:
~~r
Wally ObermeYer f'~iJ~nt
Ot.'d"........~or.(" ~;~.. ,^"A<4~~4 Go
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Patio Shelter Hanger Lease
Rent and Fees 01/01/2007 thru 12/31/2007
Shelter Numbers (To Be Determined)
Shelter Numbers
Small Medium Laroe X Laroe XX Laroe XXX Laroe!
Size
Select Patio Shelter Size:
~I
X
$37000
$42000
$46 000
$50 000 $56 000 $66 000
Payment Option: Monthly lNse
Monthly Rent (Includes O&M Fees and Ground Rent I
$4911
$560 1
$6141
$6671
$7461
$880 ,
Monthl Char as
Monthly O&M and Administrative Fees
Monthl Ground Rent
Total Monthl Ground, O&M and Admin. Fees
Plus Electrical @ $35JmonthlEngine for DeC.-March.
-.mJ-.mJ~~--.mJ.-ml
1 Monthly Ground, O&M, Administrative Fees and Electrical Costs are subject to yearly escalation and/or change pursuant to
Article IV., Paragraph B-1.
2007 Patio Shelter Analysis/Input Sheet
4% Increase In Ground Rent
Pro sed ell ital Cost
Coun S Sack Amortization Rate
lease Term ears
$
2 008 000
7%
15
A16, A17, 816, Al-A15, 81
817 815 Cl.c9 C10-Cll C12-C15 C16-C17
IShelter Size 1 To1al Small Medium Laroe X La-= XX L.arae XXX Laroe
I
49/ 41 301 41 41 51 21
5 4 1 0 0 0 0
14 0 11 1 1 1 0
30 0 18 3 3 4 2
Percentaae Breakdown of CanitallO&M and Other Costs \
2.041%
1.68%1 1.91%1 2.09%1 2.27% 2.54%\ 2.99%~
100% 6.72%1 57.17%1 8.35%1 9.07%1 12.70%1 5.99%1
$37 000 $42000 $46 000 $50 000 $56 000 $66 000
$2 204 000 $148000 $1 260 000 184 000 $200 000 $280 000 $132 000
Iproposed QIy
Initial Indicated Sid" Uos
Monthly
1/2 Down
Full Down
Averanel49 Units
Proposed WeightinglShelter
Total Wei"htlShe~er Size I
Ca ital COsllPricin
Cost per Unit
Total for Units This Size
Variable Costs
Ground Rent $
o&M and Admin. $
Sub-Talal Variable Cost $
Plus $35 per engine per month Deo-Mar
65 683
22 040
87 723
~l-.mJ~I.-ulI..-:IlJ~
Initial O&M and Administrative Costs Based Unnn Various PercentM'lU
1.0% $ 22 040 $ 31 $ 35 $ 38 $ 42 $ 47 $ 55
2.0% $ 44 080 $ 62 $ 70 $ 77 $ 83 $ 93 $ 110
2.5% $ 55100 $ 77 $ 68 $ 96 $ 104 $ 117 $ 138
Mo Ih M IhR IF.
n To on enta t'KlUres
Interest Ratel 7.0%
Terml 15
Amortized Cost $333 $378 $413 $449 $503 $593
o&MCOsts $ 125 $ 145 $ 159 173 $ 192 $ 228
Profit CO I 10% $33 $38 &41 $45 $50 $59
Total ....1 $590 $814 $887 $748 $880
Capllal Cool
MonthJ Ground Rent O&M and Administrative Pa nt $
$37 000 $42 000 $46 000 $50 000 $56 000
125 $ 145 $ 159 $ 173 $ 192 $
$66 000
228
2007 Patio Shelter Exhibits Band Cllnp" sheet.xls; Suggested Prices_Inputs
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