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HomeMy WebLinkAboutresolution.council.069-95 #A \\. '."-'~\,. '\. _:'~. ." .~".""" , '~i . RESOLUTION NO. ~~ (Series of 1995) A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO, APPROVING AN EXTENSION AND AMENDMENT TO THAT CERTAIN LEASE AGREEMENT BETWEEN THE CITY OF ASPEN AND THE ASPEN CHAMBER AND RESORT ASSOCIATION RELATIVE TO THE ASPEN MUNICIPAL PARKING PLAZA, AND AUTHORIZING THE MAYOR OR CITY MANAGER TO EXECUTE SAID AGREEMENT ON BEHALF OF THE CITY OF ASPEN, COLORADO WHEREAS, there has been submitted to the City council an Agreement to renew and amend a certain Lease Agreement between the City of Aspen and the Aspen Chamber and Resort Association relative to the Aspen Municipal Parking Plaza, a true and accu- rate copy of which is annexed hereto and incorporated herein. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO, That the city council of the city of Aspen hereby approves that Agreement to renew and amend a certain Lease Agreement between the City of Aspen and the Aspen Chamber and Resort Association relative to the Aspen Municipal Parking Plaza, a copy of which is annexed hereto and incorporated herein, and does hereby authorize the Mayor or city Manager to execute said agreement on behalf of the City of Aspen. ADOPTED this ~;t/ day of RESOLVED, APPROVED AND ~Jv, _ , 1995, by the city Council for the City of Aspen, Colorado. John ~en~~ Ie' 12, l"",_,. '~e? f.\\,' ([ '" I, Kathryn S. Koch, duly appointed and acting City Clerk do certify that the foregoing is a true and accurate copy of that resolution adopted by the City Council of the City Colorado, at a meeting held ~ d3- of Aspen, , 1995. 2 ~a :. 4'*, ~. -"...'" " ~.. ~~ _~.c' I 'P Lc: AGREEMENT TO RENEW AND AMEND LEASE AGREEMENT THIS AGREEMENT is made between the CITY OF ASPEN, COLORADO, a municipal corporation and home rule city ("LESSOR"), and the ASPEN CHAMBER AND RESORT ASSOCIATION, a Colorado non-profit corporation ("LESSEE") and made effective December 1, 1995. WIT N E SSE T H: WHEREAS, Lessor is the Lessee of a parking garage facility known as the Aspen Municipal parking Plaza which includes within it certain floor area and space suitable for offices and business purposes; and WHEREAS, Lessee has leased from Lessor that portion of the city of Aspen Parking Plaza consisting of approximately 3,300 square feet of finished space; and WHEREAS, the terms and conditions of said lease are fully described in that certain Lease Agreement, dated December 5, 1990, a copy of which is appended hereto as Exhibit "1" and by this reference incorporated herein as if fully set forth; and WHEREAS, the parties desire to renew and amend the Lease Agreement as hereinafter set forth. NOW, THEREFORE, in consideration of the mutual covenants contained herein, Lessor and Lessee agree as follows: 1. In accordance with paragraphs 3 and 4 of the Lease Agreement, Lessor and Lessee agree to extend the term of the lease for a period of five (5) years commencing on December 1, 1995, and terminating on November 30, 2000, upon the terms and conditions set forth in the Lease Agreement, as amended herein. 2. Paragraph 5 shall be amended to read as follows: Lessee shall pay Lessor at the offices of the city of Aspen Finance Director, rent for the leased premises for the first year commencing on December 1, 1995, and terminating on November 30, 1996, the sum of Three Thousand One Hundred sixty-three Dollars ($3,163.00) payable and due on the fifteenth (15th) day of each month commepclng December 15, 1990. The monthly rent shall be increased on each anniversary date (December 1) of the term of the renewal period by the percentage increase in the Urban Index during the twelve months ending on September 30 of eaoh calendar year. (Urban e lIlt It '~~ tl.',. \~. . Index and a description of calculating index changes is attached hereto as Exhibit "A"). 3. Paragraph 6 shall be amended to read as follows: 4. provision Municipal In addition to the rent payments as specified in Para- graph 5 above, Lessee shall pay to Lessor the sum of One Thousand Dollars ($1,000.00) per month top defray the cost of utility services provided to the leased premises. The monthly payment for utility services shall be due and paid contemporaneously with Lessee's monthly rent payments. Paragraph 15 of the Lease Agreement relating to the of eight (8) parking passes for use at the Aspen Parking Plaza is hereby deleted. 5. Paragraph 19 of the Lease Agreement is hereby amended to change the word "Lessor" to "Lessee" at the start of the second sentence of the paragraph. 6. Paragraph 21 of the Lease Agreement is hereby amended to change the sum of "$450,000.00" to "$600,000.00" to reflect amendments made to the maximum liability limits as set forth at C.R.S. section 24-10-114. WHEREFORE, the parties, through their duly authorized representatives, have executed this Agreement to Renew and Amend Lease Agreement on the dates as set forth herein. CITY OF ASPEN Date: /o/~'")/9-.-r / / ATTEST: ' ~ " " 2 - "e", ".. << ~ ~e...." \{ ,\ " Date: jW82.3 q/ J8)qt5 Name: Title: ASPEN CHAMBER AND RESORT ASSO- CIATION By: tJ (}^V~ m~ ~~~PiJ1cvrlE . 3 tA . ~a '. ;~ e" ~ "< c" EXHIBIT "A" CALCULATION OF CHANGES IN ,URBAN INDEX The term "Urban Index" used herein shall refer to the Consumer Price Index ~ All Urban Consumers (CPI-U), U.s. City Average, All Items (1967 = 100) compiled by the united states Department of Labor, Bureau of Labor statistics. By way of identification, the parties agree that the CPI-U index number for July 1993 = 432.6. If at the time of computation of rental increases as provided below the Urban Index as defined is not then being currently published, the parties shall mutually select a substitute index which has historically approximated the Urban Index as defined. The parties further agree that the methodology they will use for calculating index changes in the Urban Index is that described in the instruction sheet from the Bureau of Labor statistics, U.s. Department of Labor, which reads as follows: CALCULATING INDEX CHANGES Movements of the indexes from one month to another are usually expressed as percent changes rather than changes in indexpoints, because index point changes are affected by the level of the index in relation to its. base period while percent changes are not. The example in the accompanying box illustrates the computation of index point and percent changes. Percent changes for 3-month and 6-month period are expressed as annual rates and are computed according to the standard formula for compound growth rates. These data indicate what the percent change would be if the current rate were main- tained for a l2-month period. INDEX POINT CHANGE CPI Less previous index Equals index point change 315.5 303.5 12.0 PERCENT CHANGE Index Point difference Divided by the previous index Equals Results multiplied by one hundred Equals percent change 12.0 303.5 0.040 0.040 x 100 4.0 7 ~a, ., .' \f \, (e ( ( ~"". LEASE AGREEMENT . THIS AGREEMENT is made between the CITY OF ASPEN, COLOP~DO, a political subdivision and body corporate ("Lessor"), and the ASPEN CHN1BER AND RESORT ASSOCIATION, COLORADO, a Colorado non- profit corporation ("Lessee"), and executed on the date(s) as indicated below. R E C I TAL S 1. Lessor is. the lessee of a parking garage facility known as the Aspen Municipal Parking Plaza which includes within it certain floor area and space suitable for offices and business' purposes as more fully described below. 2. for the chamber Lessee desires to s~b-lease such floor area. and space purpose of conducting its business activities as a of commerce and resort association. 3. Lessor has determined that the floor area and space as described below is not now, nor will it during the term of this lease, be needed by Lessor for public purposes and that it is, therefore, in the public interest to sub-lease such premises under the terms and conditions as set forth herein. NOW, THEREFORE, in consideration of the mutual covenants contained herein, Lessor and Lessee agree as follows: LEASED PREMISES AND TERM 1. Lessor hereby leases to Lessee that portion of the city of Aspen Parking Plaza, 425 Rio Grande Place, Aspen, Colorado, consisting of approximately 3,300 square feet of finished space and which is more fully described and depicted on Exhibit "A" attached hereto and which by this reference is fully incorporated herein for all purposes. 2. 'l'he term of this lease shall be five (5) yeal;"s com- mencing December 1, 1990, and terminating November 30, 1995, provided the lease is not sooner terminated by a breach of the terms or conditions set forth herein by Lessee. 3.' Lessee may extend the term of this lease for two (2) additional terms of five (5) years each upon giving the Lessor written notice of its intent to do so six (6) months prior to the expiration of the initial five (5) year term, to wit, on or before June 1, 1995, and six (6) months prior to the expiration of the second five (5) year term, to wit, June 1, 2000. 4. In the event Lessee chooses to extend the term of this lease by providing Lessor timely notice as provided above, Lessor Exhibit 1 lei ~i "< ,'e. ~ '-\. ~.e..", ~.. '..c" ( ( and Lessee shal'\ use their best good faith efforts to determine and agree upon a new monthly or annual rent and utility service charge as described in Paragraph 6 below. All other terms and conditions shall remain as provided herein. In the event the .parties cannot mutually negotiate and agree upon a new rent amount prior to the commencement of a new lease term, then each party shall employ an appraiser knowledgeable in the Aspen market and the two appraisers so employed shall determine the new rent. If the two appraisers shall be unable to agree upon a new rent, then they shall choose a third appraiser and a majority of the three appraisers so employed shall determine the rent. Should the appraisers fail to establish a new rent prior to the com- mencement of a new lease term, Lessee shall continue to pay that rent as then in effect for the present lease term until the new rent has been fixed, at which time the difference between the rent so paid and that payable under the new rate from the begin- ning of the new lease term shall be paid to Lessor by Lessee. RENT AND UTILITIES 5. Lessee shall pay Lessor at the offices of the city of Aspen Finance Director, rent for the leased premises in the sum of One Hundred sixty Thousand Dollars and No Cents ($160,000.00) for the full term of the lease. Such rent shall be paid in sixty (60) monthly installments of Two Thousand six Hundred sixty-six Dollars and sixty-six Cents ($2,666.66) payable and due on the fifteenth (15th) day of each month commencing December 15, 1990. 6. In addition to the rent payments as specified in Paragraph 5 above, Lessee shall pay to Lessor the sum of Five Hundred Dollars and No Cents ($500.00) per month to defray the cost of utility services provided to the leased premises. The monthly payment for utility services shall be due and paid contemporaneously with Lessee's monthly rent-payments. 7. To secure payment of rent here agreed to be paid, Lessee grants to Lessor a lien on all of Lessee's equipment, furniture and other personal property that is placed on the leased premises by Lessee, such lien to be subordinate to all previously existing liens asserted against said property as of the date of this agreement. . 8. Upon Lessee's failure to pay any of the rent or utility service installments on the dates specified above, Lessor may terminate this lease by written notice to the Lessee following such non-payment and recover from Lessee all damages Lessor may incur by reason of Lessee's breach, including the cost of re- covering the premises, reasonable attorney's fees, and the amount of rent and other charges reserved in this lease for the remain- der of the stated term. 2 - t_ ~"" " " s '< tA '. ( ( ,-'. 9. Lessee, at the sole disc~etion of Lessor, may cure a default in making timely rent or utility service payments by tendering the full past due amount(s) along with an additional payment equal to one percent (1%) of the past due amount(s) for each day beyond the date any payment is due. USE OF THE PREMISES 10. The leased premises shall be used only by Lessee and only "for purposes consistent with conducting its business as a chamber of commerce and resort association. Such use may include utilization of the premises for a tourist information/transporta- tion center. 11. Lessee shall not assign, transfer, sublease, pledge, surrender or otherwise encumber or dispose of this lease or any interest or estate created herein, or permit any other person, persons, company, corporation, or organization to occupy or Use" the premises without first obtaining the written consent of the Lessor. Such consent may or may not be given at Lessor's sole discretion. . 12. Lessee shall not erect, install, operate nor'cause nor permit to be erected, installed or operated in or upon the leased premises any sign(s) or other advertising device without having obtained the written consent of the city Manager for the city of Aspen. Such consent mayor may not be given at Lessor's sole discretion. SERVICES 13. Lessor, at the request, advice and approval of Lessee, and at Lessor's.cost.and expense ($160,000.00), has caused improvements to be installed and completed in and upon the leased premises, including, but not limited to, electrical lines, . plumbing, partitions, and heating and cooling systems, sufficient to meet Lessee's minimum business requirements. By executing this lease, Lessee acknowledges that it has inspected and knows the condition of the leased premises and that Lessee accepts same as suitable for its purposes. 14. Lessor shall provide or cause to be provided reasonable amounts of electricity, hot and cold running water and heat to the premises, as well as air-conditioning for those areas within the leased premises as agreed upon and installed pursuant to the installation of the improvements as described in Paragraph 13. In the event Lessee desires or is required by business necessity to add new equipment or expand existing equipment, thus creating an increased demand for electrical, water, heating or air-cooling 3 le" ,\, \,\\;- -, '. ~e' *'" ~,<. ( ( services or sy~tems, Lessor shall be entitled to review any s~ch proposal of Les~ee.for purposes of determining the need to increase the ch~rge as set forth in Paragraph 6 above and impose an increased charge if Lessor deems same to be necessary based upon actual billing statements as provided by the utility service provider. 15. Lessor shall initially provide to Lessee at Lessor's cost eight (8) parking passes for use at the Aspen Municipal Parking Plaza. The necessity and number of parking passes as provided under this provision shall be reviewed annually by Lessor and such passes may be increased, decreased or eliminated. . MAINTENANCE OF PREMISES 16. Lessor shall, at its own expense, keep the roof, structural parts of the floor, walls and other structural parts of the premises in good repair and make necessary structural repairs not occasioned by Lessee's negligence upon written notice by Lessee. Additionally, Lessor shall maintain, to the satis- faction of Lessee, heating, ventilation and air-conditioning systems serving the leased premises in good and sufficient operating condition. All other repairs shall be made by LeSsee at its cost and expense. 17. Lessee shall, at its own expense, keep and maintain the leased premises and entrance ways leading thereto in good condi- tion and.do all work or repairs necessary to keep the premises in 'a safe condition and from deteriorating,' with the exception of normal wear and tear and aging consistent with normal office usage and time.' Lessee shall also maintain the premises consis- tent with all applicable laws, ordinances, or governmental safety regulations applicable to the premises. In these respects, Lessee shall permit Lessor,. through its -officers .and agents, to make inspection of the premises at any time so as to determine compliance with this agreement. 18. Lessor shall in no way, nor under any circumstances, be responsible for any property of the Lessee, its employees or agents, ~ustomers, or invitees that may be stolen, destroyed or in any way damaged while on the leased premises, and Lessee agrees to indemnify and hold harmless Lessor from any. such claim. INSURANCE AND LIABILITY 19. It is expressly agreed that Lessee shall occupy and operate the leased premises as an independent contractor and not as an agent, representative or employee of Lessor. Lessor shall be solely responsible for the acts and omissions of lts employees 4 CDrrecf-e{i ta LeSsee, /2-/5.C1o tA ~. e ~- ( c and agents and ,',othing herein shall be construed as creating a partnership or joint enterprise between Lessor and Lessee. 20. Lessee agrees to indemnify, defend and hold harmless Lessor, its employees, officers and agents from and against any and all claims or suits for property loss or damage and/or per- sonal injury or loss, including death, to any and all persons, whether real or asserted, arising out of or in connection with the leasing, maintenance, use or occupancy of the leased pre- mises. Lessee sh~ll, likewise, indemnify Lessor for all injury or damage to the leased premises arising from the use, occupancy or maintenance of such premises, whether caused by Lessee, .its employees, agents, or invitees, or other third persons. 21. Lessee agrees to furnish Lessor with certificate(s) of insurance as proof that its has secured and paid for a policy of public liability insurance covering all public risks related to the leasing, use, occupancy, maintenance, operation or location of the leased premises. The insurance shall be procured from a company authorized to do business in the state of Colorado and be satisfactory to Lessor. The amount of this insurance, without co-insurance clauses, shall not be less than the maximum lia- bility that can be imposed upon the city of Aspen under the laws of the state of Colorado found at C.R.S. section 24-10-101 et ~., as amended. At present, such amounts shall be as follows: $150,000~00 for any injury ~o one person in any single occurrence; $450,000.00 for any injury to two or more persons in any single occurrence. These insurance amounts may be revised upward at Lessor's .option .and Lessee shall do so within ninety. (90) .days following notice to Lessee of such new required insurance amounts. In no event shall such insurance amounts fall below those maximum liability limits as set forth at C.R.S. Section 24-10-114, as amended. 22. During the full term of this lease, Lessee, at its sole cost and expense, shall also cause all the leased premises and improvements on the leased premises to be kept insured, without co-insurance clauses, to the full insurable value against the perils of wind storm, hail, lightening, explosion, fire and like' perils. "Full insurance value" means the actual replacement value less physical depreciation. The insurance shall be pro- cured from a company authorized to do business in the State of Colorado and be satisfactory to the Lessor. All policies as required herein shall contain a waiver of subrogation by the insurer against Lessor. 5 ~-j" \( \\, -.',., ~. t.", \Z. c c (""l, 23. If, absent negligence or fault on the part of Lessee, the leased premises shall be damaged by fire or other catastrophe so as to render said premises wholly untenantable, and if such damage is so great that a competent licensed architect in good standing in Pitkin County, Colorado, as selected by the Lessor, shall certify in writing to the Lessor and Lessee that the premises, with reasonable diligence, cannot be made fit for occupancy within ninety (90) days from the happening of the occurrence of the damage, then the lease shall terminate and Lessor may re-enter and take possession. Lessee shall pay rent, duly apportioned, up to the time the lease shall be terminated as herein provided. Such a termination of the lease shall not forgive Lessee's obligations to return the premises to Lessor in as good repair as when Lessee originally assumed possession thereof, regular and ordinary wear and tear excepting. Alterna- tively, Lessee shall subordinate its rights and interests in any insurance proceeds as provided for in Paragraph 24 below. If, however, the damage is not such as to prevent reoccupation and use of the premises within ninety (90) days, then repairs thereto shall be undertaken by Lessee with all reasonable speed to restore the premises to its former condition and rent shall only be abated for that period of time during which Lessee shall be deprived of actual use of the premises as a result of the damage and repairs undertaken thereto. 24. Lessee shall name Lessor as co-insured on all insurance policies and such policies shall include a provision that written notice of any non-renewal, cancellation or material change in a policy by the insurer shall be delivered to Lessor thirty (30) days in advance of the effective date. In the event the leased premises is destroyed by fire or other insured casualty, Lessor shall, at a minimum, be entitled to so much of the insurance proceeds representing its actual costs in finishing 'and improving the premises as described in Paragraph 13 above and -in restoring the premises to its original unfinished and unimproved condition. Should insurance proceeds be insufficient to restore the premises to its original condition, Lessee shall make up and satisfy such deficiency. ALTERATIONS TO PREHISES 25. Lessee, upon Lessor's written consent, may, at its own expense, make reasonable and necessary alterations or improve- ments to the leased premises. All alterations, additions and improvements shall be performed in a workmanlike manner, in accordance with all applicable building and safety codes, and shall not weaken or impair the structural strength or lessen the value of the premises. All alterations, additions and impr?ve~ ments made in or to the premiss shall be the property of Lessor 6 - ~ tA". ~ ~"" ~\. r ~ c and remain and?)e surrendered with the premises upon termination of this lease. Lessee agrees that prior to any construction or installation ofialterations, additions or improvements, Lessee shall post on the premises in a conspicuous place a notice of non-liability for mechanic's lien as specified at C.R.S. Section 38-22-105 on behalf of Lessor and shall notify Lessor of such posting and the exact location of same. Perfection of a mechanic's lien against the leased premises as a result of Lessee's acts or-omissions may be treated by Lessor as a material breach of this lease. 26. Lessor reserves the right, from time to time, at its own expense and by its officials, employees and contractors, to make such alterations, renovations or repairs in and about the leased premises, other than those noted above as required by Lessee, as Lessor deems necessary or desirable and Lessee cove- nants to make no claim against Lessor for any interference with its interests as herein provided in the premises. Lessor shall provide reasonable notice to Lessee in advance of any intent to undertake alterations or repairs as authorized in this paragraph. QUIET ENJOYMENT 27. Lessor agrees that Lessee, upon timely payment of rent and observing and keeping those terms and conditions of this lease to be observed and kept by Lessee, shall lawfully and quietly hold,' occupy and enjoy the leased premises during the term of the lease subject to, however, those conditions which may be reasonably anticipated in connection with the operation of a parking garage facility. TAXES 28. In the event any taxes are levied and assessed upon-the leased premises or upon the improvements, fixtures or personal property of the Lessee located on the leased premises, or upon the leasehold or possessory interests as created through this. lease, Lessee shall be solely responsible to satisfy and pay all such taxes in a timely fashion. Lessee shall not allow any liens for taxes or assessments to exist with respect to the leased premises, except that Lessee may permit such taxes or assessments to remain unpaid while pursuing any good faith contest or appeal of same. CONDEMNATION 29. If during the term of this lease, or any renewal of it, the whole or part of the leased premises or such portion as will make the leased premises unusable for the purpose teased, or the leasehold interest, be condemned by public authority, including 7 e. x ~., ~.. e' \, \ ~ ~ ( c Lessor, for pUb:'ic use, then the lease term granted herein shall cease as of the date of the vesting of title in the premises in such condemning'authority, or when possession is given to such authority, whichever event occurs first. Upon such occurrence, the' rent as due hereunder shall be apportioned as of that date and any prepaid rent shall be returned to Lessee. Lessee shall not be entitled to any part of any condemnation award for the value of the unexpired term of this lease or for any other estate or interest in the leased premises, such amount belonging entirely to Lessor. DEFAULT/TERMINATION 30. If Lessee shall fail to timely comply with any of the terms or conditions of this lease or any notice given under it, or if it shall remove or manifest an intention of removing its furniture, business equipment, or fixtures from the leased pre- mises while in arrears as to the payment of rent, or shall become insolvent, or shall have or attempt to make an assignment for the benefit of creditors, or if any of its property be attached and such attachment is not promptly released, or if an execution be issued against it, or, if a petition be filed by or against it, to have it adjudicated a bankrupt, or if a trustee or receiver shall be created or appointed to take charge of its assets, or if it shall abandon the premises for a period of more than seventy- two (72) hours, then at any time afterwards Lessor may at its option enter into the premises and remove all persons and take and retain possession thereof either with or without process of law. 31. Any breach, default or failure'by ,Lessee to perform any of the duties or obligations assumed by Lessee, or to faithfully keep and perform any of the terms herein, shall be cause for termination of the lease by Lessor in the manner set forth in this paragraph. Lessor shall deliver to Lessee ten (10) days prior written notice of its intention to terminate this lease, including in the notice a reasonable description of the breach, default or failure. If within that ten (10) days Lessee shall fail or refuse to cure, adjust or correct it to the satisfaction of Lessor, then Lessor shall have the right to declare the lease. terminated and all rights, powers and privileges of Lessee as provided through this lease shall cease and Lessee shall immedi- ately vacate the premises and shall make no claim of any kind against Lessor by reason of the termination. 32. The ten (10) days' prior written notice shall be conclusively determined to have been delivered to Lessee upon posting of same upon the main business entrance to the premises or at the time it is deposited in the U.S.IMail, certified, postage prepaiq, addressed to president, Aspen Chamber Resort 8 ~_. ~. R ~ e, ~., ~~. - ( ( ~, Association, 42~ Rio Grande Place, Aspen, Colorado 81611, or such other address as otherwise designated in writing by Lessee. i 33. Any failure by Lessor to so terminate this lease as herein provided or the acceptance by Lessor of rent for any period after the breach, default or failure by Lessee to adhere to the terms of the lease shall not be determined or construed to be a waiver or continuing waiver by Lessor of any rights to terminate the lease for any present or subsequent breach, default or failure. 34. Lessee agrees that it will, at the end of the term of the lease, peaceably deliver to Lessor the leased premises and all fixtures and improvements on it in a good state of repair, and vacant, unencumbered, and in good and tenantable condition. COMPLIANCE WITH LAWS/NO DISCRIMINATION 35. Lessee agrees to comply with all laws, ordinances, rules and regulations that may pertain or apply to the leased premises and its use. In performing under the lease, Lessee shall not discriminate against any worker, employee or job applicant, or any member of the public, because of race, color, creed, religion, ancestry, national origin, sex, age, marital status, physical handicap, affectional or sexual orientation, family responsibility or political affiliation, nor otherwise commit an unfair employment practice. NOTICES 36. Whenever this lease calls for or provides for notice and notice is not otherwise specified, the same shall be provided in writing and shall be served on the person(s) as designated by the parties. below, either in person or by certified mail, postage prepaid and return receipt requested: For Lessor: Aspen City Manager 130 South Galena Street Aspen, Colorado 81611 For Lessee: President Aspen Chamber Resort Association 425 Rio Grande Place Aspen, Colorado 81611 The parties may change or add such designated person(s) or addresses as may be necessary from time to time in writing. 9 ~e, \it\ '< e. " Z\ '+",- e! zt- "<.. (' o f.-1, SUCCESSORS AND ASSIGNS 37. All of the terms and conditions as contained in this lease shall inure to the benefit of and be binding upon the successors and assigns of the parties. HEADINGS 38. reference the scope Headings contained herein are for convenience only and are not intended to define, limit or or intent of any provision of this lease. of describe GOVERNING LAW 39. This lease shall be enforced and interpreted in accor- dance with the laws of the State of colorado. Any action brought to enforce or interpret this lease shall be brought in the Dis- trict Court in and for Pitkin County, colorado. In the event of litigation between the parties concerning this lease or matters arising therefrom, the prevailing party shall be awarded its costs and reasonable attorney's fees. MODIFICATIONS 40. This instrument constitutes the entire agreement by the parties concerning the leased premises and any prior or contem- poraneous oral or written agreement that purports to vary from the terms as set forth herein shall be void and of no'effect. 41. The lease and all of its terms and conditions may not be amended or modified absent a written agreement duly executed by Lessor and Lessee. , .SHORT FORM OF. LEASE FOR RECORDING 42. A short form of this lease, in substantially the form hereunto attached as "Exhibit B", will be executed and acknow- ledged by the parties for purposes of recording. COUNTERPARTS 43. This lease has been executed in three (3) counterparts, each of which shall be deemed an original. WHEREFORE, the parties, through their duly authorized representatives, have executed this lease upon the dates as set forth herein. 10 '. .' ~\\ t". ( .,-\ Date: 7hv 30 /7'76 I ATTEST: '1~~c~erk ~.'" ~, '~ '." h" if., ~, Date: ,2.-S--00 ATTEST: My Commissions"",,,,, 0.'27/112 a,'1/~"'u /11, I hA..l/(YJ-. I . 11;4!0:11 y c CITY OF ASPEN, COLORADO ~~ ~ /"~ By /.~~ "i. /~ , v william L. stirling, Mayor RESORT By 11