HomeMy WebLinkAbout1981-005 Lease Modification - S.O. Skyways
MODIFICATION OF LEASE
THIS AGREEMENT, made and entered into this ~~~ day of '
January, 1981, by and between THE CITY OF ASHLAND, a municipal
corporation of the State of Oregon, (Lessor), and SOUTHERN OREGON
SKYWAYS, an Ashland, Oregon corporation, (Lessee),
WITNESSETH:
RECI.TALS:
1. There is presently existing a lease between the abov~
l
parties that is dated May 10, 1979.
2. It is the desire of the parties that said lease be
modified so as to clarify the Lessee's rental obligations and also
to provide for the lease of additional land for the construction of
additional hangar space on said land.
NOW, THEREFORE, in consideration of the foregoing Recita]s,
the truth of which is hereby acknowledged and of the mutual covena~ts
contained herein, it is agreed by and between the parties as follo~s:
I
Article III - RENTAL, Section 3.01 - Percentage Rent is ~ereby
amended to read in its entirety as follows:
j
"Section 3.01 - Percentage Rent: The rent of the Lessee lshall
for the first ten (10) years of the lease be fifteen percent (15%)
of the gross receipts of the Lessee for hangar rental and twe~ty
percent (20%) of the gross receipts of the Lessee for the second
ten (10) years of the lease. If Lessee uses the hangar space tor
his own planes or for any other use whatsoever, then the Lesse~
shall pay rent equivalent to the amount that would be paid if rented
to third parties."
II
Exhibit "A" to said lease is hereby amended to be in accord
with the document attached hereto marked "Revised Exhibit "A" of
January, 1981" and so as to increase the land for hangar space con-'
struction from five (5) hangar spaces to eleven (11)1 hangar spaces.:
III
I
In all other respects said lease is hereby confirmed and re-
mains unmodified.
I
In Witness tVhereof the parties hereto set their hands andi seals.
-1- Modification of Lease
RONALD L. SALTER
ATTORNEY AT LAW
70 NOI'lTH PIONEIER STREET
P. O. BOX 727
ASHLAND. OREGON 97520
~
Attest:
LESSOR:
City of Ashland
/ ~~ ~ . 7?(--e#C<~A~
Mayor ;
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Reco aer
LESSEE:
;z;=;z:
Skyways
State of Oregon
County of Jackson 111
On the /4 day
above named Elrnont George
be his voluntary act.
Before me:
of J:;l'1l.id ~ ' 1981, personally appeared; the
and acknow edged the foregoing instrunent: to
"
or Oregon
expN~~MISSION E.~p,
RONALD L. SALTER
-2- Hodification of Lease ATTORNEY AT LAW
70 NORTH ..IONKER STREET
P. O. BOX 727
ASHLAND. OREGON 97520
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