HomeMy WebLinkAboutResolution - 5175 - Assignment Of Lease - From Hallmark & Associates Inc To Wolfpen Associates Inc - 05_09_1996RESOLUTION NO 5175
May 9, 1996
Item #15
RESOLUTION
WHEREAS, on May 11, 1995, the City of Lubbock, Texas, as Lessor, entered into a
Non -Aeronautical Lease Agreement with Hallmark & Associates, as Lessee, for 115,500 square
feet of land located in the air cargo complex at the Lubbock International Airport; and
WHEREAS, such Lease provides that it may be assigned so long as the leased premises
and improvements continue to be used for the purposes expressed therein and the Assignee
agrees in writing that it will observe and abide by all of the terms, covenants and conditions of
i the Lease; and
WHEREAS, Lessee desires to assign the above -described Lease to Wolfpen Associates,
Inc., whose address is 1118 Panorama Drive, Covington, Kentucky 41011, and a draft copy of
the proposed assignment is attached hereto and included herein as part of this Resolution; and
WI IEREAS, the proposed Assignment complies with all of the requirements contained in
the Lease for such an Assignment; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LIJBBOCK:
TI IAT in consideration of an Assign ted in substantially the same form as the
attached document, the City Council hereb consents to t Assignment Lessee to
Wolfpen Associates, Inc. of the Lease dated May 11, 19 etwe tie Ci of boc nd
Hallmark & Associates, Inc.
AVID R. LAItGSTON, MAYOR
ATTEST:
&,r, ), "L-i
etty . lohn on, City Secretary
APPROV TO CONTENT:
M N. Earle, Aviation Manager
APPROVED AS TO FORM:
&a,tpa J
X4_�
arold Willard, Assistant City Attorney
HW/ccdocs/ oll'pen.res
April 8. 1996
RESOLUTION NO. 5175
May 9, 1996
Item #15
RI'S(}I,UTION
WI II:RLAS, on May 11. 1995. the City ol'Lubbock, Texas. as I,cssor. entered into a
Non-Acronailtical I,CaSC AUrecmenl with I lallmark & Associates, as Lessee, for 115,500 square
beet of land located in the air cargo complex at the Lubbock International Airport; and
WI IEREAS. such Lease provides that it may be assigned so long as the leased premises
and 1lllpr0Venlent5 contilltie to he uscC1 for the purposes expressed therein and the Assignee
agrees In ltirltim-1 that it will ohscrvc and abide by all ofthe terms, covenants and conditions of -
the Lease: and
W'I11 ALAS, Lessee desires to assign the above -described Lease to Wolfpen Associates.
Inc.. M,ilusc addl-css is 1 1 18 Panorama Drive. Covington, Kentucky 4101 1, and a draft copy of
the proposed assignment is attached hereto and included herein as part of this Resolution: and
WHEREAS, the proposed Assignment complies with all ol'the requirements contained in
the Lease liir such an Assi<unnlcnt, NOW Tl IERE FORE:
BE IT IZESOI.VFD BY TI IE CITY COt iNCIL OF THI- CITY OF LUBBOCK:
1'] [AT in coilsidcration of an Assit-1111 exec in substantially the same form as the
attached docunleilt. the City COLU1Cil here b consents to the Assis;nnl le Lessee to
Wollpen :Associates. Inc. of the Lease dated . av 1 1 �, etwe n tl 'itv of a and
Hallmark c- associates. Inc. /
\\'II) R. LANC;STON. MANI }I:
;1"I TFST:
etty fUClohnsim. C itv Secretary
APPROV 5 TO CONTENT:
M?A1N. Earle, Aviation klana17er
APPROVED AS TO FORM:
1 ,/ ,7
Harold Willard. assistant City Attorney
1111 ccdocs, �wh'pcn.res
April 3. 1996
RESOLUTION NO. 5175
May 9, 1996
Item # 15
ASSIGNMENT AND ASSUMPTION OF LEASE AGREEMENT
THIS AGREEMENT is made as of the 9th day of Ma
1996, by and
between HALLMARK & ASSOCIATES, INC., hereinafter referred to as "Assignor" and
WOLFPEN ASSOCIATES, INC., whose address is 1118 Panorama Drive, Covington, Kentucky
41011, hereinafter referred to as "Assignee".
WHEREAS, on May 11, 1995, The City of Lubbock, Texas, as Lessor, and Assignor, as
Lessee, entered into a lease agreement dated as of said date with respect to the leased premises
described in said lease, which lease is hereinafter called "Ground Lease";
WHEREAS, the Ground Lease provides that it may be assigned or sublet so long as the
leased premises and improvements continue to be used for the purposes expressed in the Ground
Lease and the sublessee or Assignee agrees in writing that it will observe and abide by all of the
terms, covenants, and conditions of the Ground Lease;
WHEREAS, Assignor and Assignee have entered into an agreement in which Assignor will
assign all of its right, title, and interest in the Ground Lease to Assignee;
NOW, THEREFORE, in consideration of the Premises, and other good and valuable
consideration, the receipt of which is hereby acknowledged, the parties hereto hereby covenant and
agree as follows_
1. Assignor assigns to Assignee all of Assignor's right, title, and interest in and to said
Ground Lease.
1
2. Assignor covenants that the Ground Lease is in full force and effect, that it is not in
default under said Ground Lease, and that Assignor has full and lawful authority to assign said
Ground Lease.
3. Assignee assumes said Ground Lease as of the date hereof and will perform and
observe all covenants and conditions therein contained on the Assignor's part to be performed and
observed which shall accrue from and after this date.
4. Assignor shall remain liable for the performance and observance of the covenants and
conditions of said Ground Lease required to be performed and/or observed thereunder by the Lessee
specifically including, but not limited to, payment of all rentals and charges to be paid thereunder
to the Lessor, the City of Lubbock, Texas.
5. This Agreement may not be changed, modified, discharged or terminated orally or
in any other manner than by an agreement in writing signed by the parties hereto or their respective
successors and assigns.
6. The terms of this Assignment and Assumption of Lease shall survive the Closing and
passing of title to the Leasehold Estate and Improvements from Assignor to Assignee.
IN WITNESS WHEREOF, the parties have hereto duly executed and caused this instrument
to be executed the day and year first above written.
ASSIGNOR:
ATTEST:
-Vz,, I)J.-Cl1CtC ju
-
2
HALLMARK & ASSOCIATES, INC.
BY:
ITS:
ASSIGNEE: WOLFPEN ASSOCIATES, INC.
ATTEST
BY:
David E. M yer, President
A L e rVL� 7 a CL cc
STATE OF_ r ;COUNTY OF_ zeezl
The foregoing instrument was acknowledged before me this 1Wday of
0 i , 1996, by. / , the _ Aee iar/Ki1--/
of HALLMARK & ASSOCIATES, C., a Texas corporation, on behalf of said corporation.
to4'R*
KELLY WAGGONER
• f4eary Pu61sc, state of Texas
r 4 My Commission Expires 9.11.96
NNOTAR UBLIC -C,
My commission expires:
My jurisdiction is: 12Q (U S
STATE OF KENTUCKY; COUNTY OF -k
The foregoing instrument was acknowledged before me this L�3 -// day of
Ma , 1996, by David E. Meyer, President of WOLFPEN ASSOCIATES, INC., on behalf
of said corporation.
L4a= 2L�l
NOTARY Pi rBLIC
My commission expires:
My jurisdiction is: t
THIS INSTRUMENT PREPARED BY
ZIEGLER & SCHNEIDER, P.S.C.
200 Covington Mutual Building
629 !Madison Avenue
Covington, Kentucky 41011
Sharon Schneider Eltiaton
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