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01. January
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2025-01-21 10:00 AM - Commissioners' Agenda
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Lease Amendment
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Last modified
2/5/2025 10:50:00 AM
Creation date
2/5/2025 10:49:32 AM
Metadata
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Template:
Meeting
Date
1/21/2025
Meeting title
Commissioners' Agenda
Location
Commissioners' Auditorium
Address
205 West 5th Room 109 - Ellensburg
Meeting type
Regular
Meeting document type
Fully Executed Version
Supplemental fields
Item
Request to Approve and Sign an Amendment to a Lease with Carrera Hangars Bowers Field, LP for Lot H-20A within the Aeronautical Area of Bowers Field
Order
18
Placement
Consent Agenda
Row ID
126584
Type
Resolution
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I <br />3 <br />includes a failure to pay rent or other amounts, the amounts owing <br />on the date of the notice and the dates other amounts will be due, if <br />any, during such sixty (60) day period. lf during such sixty (60) day <br />period Lender: <br />(i) notifies Lessor of its intent to remedy the default to the <br />extent the default is reasonably curable by Lender; <br />(ii) pays or causes to be paid to Lessor the rent or other <br />amounts as and when due; and <br />(iii)complies with or in good faith, with reasonable diligence, <br />commences to comply with all non-monetary obligation <br />under this lease then in default which may reasonably be <br />cured by Lender (which, for greater certainty, shall exclude <br />remedying the insolvency, bankruptcy or similar financial <br />condition of Lessee) <br />then the date for termination of the lease shall be extended <br />provided that during such extension Lender: <br />(iv) pays or causes to be paid to Lessor the rent and other <br />amounts due under the lease as and when due; <br />(v) <br />(vi) <br />continues its good faith efforts to perform all Lessee's other <br />obligations under this lease (except any obligation to <br />discharge any lien or other encumbrance ranking junior in <br />priority to Lender's Leasehold Mortgage); and <br />unless enjoined or stayed, takes steps to acquire or sell <br />Lessee's interest under this lease by foreclosure of the <br />Leasehold Mortgage or other appropriate means and <br />prosecutes the same to completion with reasonable <br />diligence and continuity. <br />lf the default specified in the notice is cured and Lender <br />discontinues such foreclosure proceedings, this lease shall <br />continue in fullforce and effect as if Lessee had not defaulted. <br />Nothing in this Paragraph 32(d) shall be construed to extend this <br />lease beyond the term specified in Paragraph t herein. <br />EFFECT OF ASSIGN ENT. The assi gnment of this lease as a <br />Leasehold Mortgage shall not require Lender to assume <br />performance of any terms, covenants and conditions of Lessee <br />under this lease, however, the assignee of this lease in, or in lieu or <br />settlement of, any foreclosure or other execution proceedings under <br />(e)
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