HomeMy WebLinkAboutresolution.council.095-03RESOLUTION #95
(Series of 2003)
A RESOLUTION APPROVING A LEASE AGREEMENT BETWEEN THE
CITY OF ASPEN, COLORADO, AND SPECIALTY SPORTS SETTING
FORTH THE TERMS AND CONDITIONS REGARDING THE GOLF COURSE
PRO SHOP AND AUTHORIZING THE CITY MANAGER TO EXECUTE SAID
LEASE AGREEMENT
WHEREAS, there has been submitted to the City Council a lease agreement
between the City of Aspen, Colorado, and Specialty Sports, a copy of which lease
agreement is annexed hereto and made a part thereof.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF ASPEN, COLORADO:
Section 1
That the City Council of the City of Aspen hereby approves that lease
agreement between the City of Aspen, Colorado, and Specialty Sports regarding
the golf course pro shop, a copy of which is annexed hereto and incorporated
herein, and does hereby authorize the Ci.ty Manager of the City of Aspen to
execute said lease agreement on behalf of the City of Aspen.
Dated:
I, Kathryn S. Koch, duly appointed and acting City Clerk do certify that the
foregoing ~s a true and accurate copy of that resolution adopted by the City
Council of the City of Aspen, Colorado, at a meeting held October 14, 2003.
K~(ryn S. Koch, City Clerk
THIRD AMENDMENT TO LEASE AGREEMENT
FOIl ASPEN M-UNCIPAL GOLF (7OURSE- PRO SHOP
THIS THIRD AMENDMENT TO AGREEMENT entered into at Aspen, Colorado, this
day'of ., 2003, by and between the City of Aspen, Colorado, a municipal
corporation andhome rule City ("City") and SSI Venture LLC, A Colorado Limited
Liability Corporation ("Lease Holder").
WITNESSETH:
Whereas, City and Lease Holder entered into a certain Lease Agreement for Aspen
Municipal Golf Course- Pro Shop, approved by the Aspen City Council by Resolution
No. 18 Series of 2000, on March 16, 2000; and
Whereas, said Lease Agreement provided for an initial lease term of April 1, 2000,
through the 2003 golf season with an option to extend, for an additional four years; and
Whereas, a First Amendment to the Lease Agreement was entered into by the parties to
alter the lease payments for the 2001 golf season; and,
Whereas, a Second Amendment to the Lease Agreement was entered into by the parties
to alter the lease payments for the 2002 golf season; and,
Whereas the parties hereto desire to extend the initial term of the lease and alter the lease
payments due during said extension period.
NOW, THEREFORE, the Lease Agreement shall be and is hereby amended as follows:
The initial term of the lease shall be extended through the 2004 golf season
ending October 31, 2004. As used herein and defined in the Lease, golf season
means the period from April 1 to November 1 of each year.
The option to renew the Lease Agreement shall be extended to allow Lease
Holder to extend the Lease Term for four golf seasons beginning April 1, 2005,;
provided, however, that all the terms and conditions set forth at Section I of the
Lease Agreement are met.
The lease payments for the 2004 golf season shall be shall be $140,000.00 plus
an adjustment for any increase in the consumer price index (CPI) for the year
2003-2004, plus 8% of all gross retail sales in excess of $264,000.00, plus 20%
of all gross rental service sales less golf lesson revenue in excess of
$396,000.00.
4. The expense for the Starter/Ranger Payroll will increase by CPI from 2003 to
2004.
5. Tenant shall have no obligation to purchase new golf carts for the 2004 golf
season.
6.Atl other terms and conditions of the Lease Agreement shall remain the same.
7.CPI for purposes of this Amendment shall mean the Consumer Price Index - Al1
Urban Cdnsumers (CPI-U), U.S. City Average, All Items (1967 = 100) compiled by
the United States Department of Labor, Bureau of Labor Statistics for the month of
January.
IN WITNESS WHEREOF, the parties have executed this Agreement the day and
year first written.
SSI VENTURE LLC:
By:
ATTEST:
Thomas A. Gatt
The Gart Companies, Inc.
Title: President
CITY OF ASPEN, COLORADO
Steve Barwick, City Manager
!
Kathryn S. Koc~ ~it~C~efk
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