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RESOLUTION NO.~
Series of 19n
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A RESOLUTION APPROVING AN ASSIGNMENT, ACCEPTANCE AND AGREEMENT TO
LEASE BETWEEN THE CITY OF ASPEN, THE ASPEN BRANCH, INC. AND ASPEN
GLASS, INC. FOR THE ASSIGNMENT OF CERTAIN RETAIL SPACE AT THE WHEELER
OPERA HOUSE, AND AUTHORIZING THE CITY MANAGER TO EXECUTE SAID
AGREEMENT ON BEHALF OF THE CITY OF ASPEN, COLORADO.
WHEREAS, there has been submitted to the City Council an assignment, acceptance and
agreement to lease between the City of Aspen, the Aspen Branch, Inc. and the Aspen Glass, Inc.
for the assignment of certai1 retail space at the Wheeler Opera House, a true and accurate copy
of which is attached hereto as Exhibit "A";
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ASPEN,
COLORADO:
That the City Council of the City of Aspen hereby approves that assignment, acceptance
Ie and agreement to lease between the City of Aspen, the Aspen Branch, Inc. and the Aspen Glass,
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Inc., a copy of which is annexed hereto and incorporated herein, and does hereby authorize the
City Manager to execute said lease agreement on behalf of the City of Aspen.
INTRODUCED, READ AND ADOPTED by the City Council of the City of Aspen on
the d~ day of ~ ' 1993.
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John S. Bennett, Mayor
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 of Aspen,
Colorado, at a meeting held on the day hereinabove stated.
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ASSIGNMENT. ACCEPTANCE AND AGREEMENT TO LEASE
This ASSIGNMENT AND AGREEMENT, made and entered into as of the date
hereinafter stated, between the CITY OF ASPEN, Colorado, ("City"), the Aspen Branch, Inc.,
a Colorado Corporation as Assignor ("Assignor"), and Aspen Glass, Inc., a Michigan
Corporation d/b/a "Habatat Galleries, Aspen" as Assignee ("Assignee"), and Sandy Hagopian
and Armen Kalaydjian as guarantors of Assignee's full and faithfull performance of the terms
of lease ("Guarantors").
WHEREAS, pursuant to a lease dated October 17, 1983, the City did lease to the Happy
Road, Inc., a Colorado corporation, that space in the Wheeler Opera House, 328 East Hyman
Avenue, Aspen, Colorado, consisting of approximately 1,040 square feet of floor space ("the
lease"); and
WHEREAS, the Happy Road, Inc. did sell and assign the lease to Janie Beggs Fine Arts,
Ltd., a Colorado corporation, in accordance with that certain" Agreement to Purchase and Sell
Real Estate Lease" dated October 18, 1985; and
WHEREAS, Janie Beggs Fine Arts, Ltd. did sell and assign the lease to Elizabeth Gill,
an individual d/b/a The Aspen Branch, in accordance with that "Assignment of Lease" dated
October 15, 1987; and
WHEREAS, Elizabeth Gill did sell and assign the lease to the Aspen Branch, Inc., a
Colorado corporation, in accordance with that "Acceptance of Assignment of Lease and
Assignor's Warranty" dated September 6, 1990; and
WHEREAS, the Aspen Branch, Inc. desires to assign the lease to Aspen Glass, Inc.; and
WHEREAS, sections 11 and 22 of the lease provides that tenant shall not assign the lease
without the City's consent; and
WHEREAS, the City desires to give its consent to the assignment upon certain conditions
as set forth herein.
NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained herein,
the parties agree as follows:
ASSIGNMENT OF LEASE
Effective May 14, 1993, the Aspen Branch, Inc. hereby transfers and assigns to Aspen
Glass, Inc. all rights and interests in the lease between the City of Aspen and Assignor as
successors in interest to Elizabeth Gill, Janie Beggs Fine Arts, Ltd. and the Happy Road, Inc.
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The Aspen Branch, Inc. does hereby further assign to Assignee all right and interest in a security
deposit in the amount of $2,253.53 held by Lessor to secure lease payments and the faithful
performance of the lease terms.
ACCEPTANCE OF ASSIGNMENT
Aspen Glass, Inc., as Assignee, hereby accepts the assignment of the lease, as amended
by a Modification Agreement dated April16, 1993, for the premises as hereinbefore described
and assumes all of the terms and conditions contained in such lease to be performed by
Assignor, including the duty to pay rent and to insure and indemnify Lessor. Assignee: further
accep~primary liability for any breach of the lease and agr~that it shall alter the use of the
leased premises from its current use as a flower shop to the use specified in the lease. This
Acceptance of Assignment is being executed for the benefit of the City of Aspen as Lessor and
an executed copy hereof shall be affixed to the lease herein described.
CONSENT TO ASSIGNMENT
The City of Aspen as Lessor under the terms of the lease, as amended by a Modification
Agreement dated April 16, 1993, for the premises as hereinbefore described does hereby give
consent pursuant to paragraphs 11 and 22 of said lease to ,the Aspen Branch, Inc., Lessee,
pursuant to an executed assignment dated September 6, 1990, and approved by Lessor on the
, same date, to assign all of Lessee's rights, interests, duties and liabilities under said lease to
Aspen Glass, Inc., as Assignee. 'The City of Aspen hereby releases the Aspen Branch, Inc. and
Elizabeth Gill and any of its officers or agents, from any and all further obligations under the
lease from and after the date of this assignment.
GUARANTORS'VVARRANTY
Pursuant to and in consideration of the Lessor's consent to the assignment of the lease
as described hereinabove, Sandy Hagopian and Armen Kalaydjian personally guarantee and
warrant to Lessor the full and satisfactory performance of all lease terms by Assignee during the
full term of the lease. Sandy Hagopian and Armen Kalaydjian shall become individually and
personally liable under this warranty provision if Assignee has not paid any sum due under the
lease to Lessor within ten (10) days after the sum becomes due, or if Assignee has ,not
performed any of the terms or conditions of the lease within twenty (20) days after receipt of
notice of the non-performance from Lessor, or upon the filing by or against Assignee of a
petition for bankruptcy or insolvency or for reorganization in any court. '
Dated: !frY )1) ,Iff:;
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ASSIGNOR:
The Aspen Branch, Inc.:
By: rtt.lL~V
Eliza~eth Gill, President I
ASSIGNEE:
Aspen Glass, Inc.
By:
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By:
Armen Kalaydjian, President
GUARANTORS:
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Sandy H gopian
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Armen Kalaydjian
LESSOR:
CITY OF ASPEN, COLORADO
By:
APPROVED AS TO FORM:
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APR 21 '93
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01:21PM SE~'FIELD RYAN
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ASSIGNOR:
The Aspen Branch, Inc.:
By:
ASSIGNEE:
Aspen Glass, Inc.
By:
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GUARANTORS:
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~ SMIDYHagOP~IIJ\ J I
Armen Kalay jian I
LESSOR:
CITY OF ASPEN, COLORADO
By:
Amy Margerum, City Manager
APPROVED AS TO FORM:
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