Exhibit 10.16
PROVO CITY AIRPORT LEASE AGREEMENT
THIS AGREEMENT, is made and entered into as of the
day of , 20 , by and between PROVO CORPORATION, a Municipal
corporation of the State of Utah, hereinafter referred to as "City" and
Madison Escrow, hereinafter referred to as "Lessee".
WITNESSETH:
WHEREAS, City owns and operates the Provo City Municipal Airport,
located in Utah County, Utah, hereinafter referred to as "Airport"; and
WHEREAS, Lessee desires lease property from City to engage in cargo
airline operation, and related activities at the Airport; and
WHEREAS, City is willing to enter into an agreement for such a
lease;
NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants and agreements of the parties contained herein, the parties enter
into the following Lease agreement:
ARTICLE 1
LEASED PREMISES
City hereby leases and lets to Lessee and Lessee hereby leases and
rents from City the property described in Exhibit A, consisting of 36,752
square feet, more or less, hereinafter referred to as the "Premises":
ARTICLE 2
TERM - REVERSION
The term of this Lease shall be for a period of thirty (30) years
with an option for two (2) five (5) year extensions for a total potential term
of forty (40) years, unless sooner terminated as herein provided, commencing
the first (1) day of November, 2000. Before termination of the Lease, Lessee
shall remove all its personal property pursuant to Article 15 of this Lease.
Upon termination of the lease at the end of the full term, Lessee shall
immediately turn over possession of the premises together with all
alterations, additions, attachments, permanent fixtures, and improvements to
the property including, but not limited to all buildings and hangars
constructed by Lessee, in a good state of repair, reasonable wear and tear
excepted, and without any cost to or payment by City, and without the
execution of any deed or other document, title to the alterations, additions,
attachments, fixtures, and improvements shall automatically pass to and be
vested in City.
ARTICLE 3
RENT
Commencing November 20, 2000, and through the balance of the term of
this Lease, Lessee agrees to pay to City rent and fees as follows:
1. Rent for the Premises shall be paid by Lessee in the sum of
six thousand two hundred and forty eight Dollars ($6,248) per year. Rent shall
be payable within thirty (30) days of receipt of invoice each month in a sum
equal to one-twelfth (1/12) of the annual rental due hereunder. Rent for any
partial month at the beginning or end of the term shall be duly apportioned
and paid.
2. Lessee agrees to pay for all electricity, gas, water, and
sewer services provided to the Premises during the term of the lease. These
utility expenses shall be paid on or before thirty (30) days after receipt by
Lessee of invoice from the City.
3. Lessee agrees to pay a late charge of five percent (5%) of
each rent and utility payment not received by the City within thirty (30) days
of the date due. Any payment or payments more than sixty (60) days past due
shall also have interest added thereon at the rate of ten percent (10%) per
annum.
4. City and Lessee agree that every two years the rent shall be
adjusted to reflect changes in the Consumer Price Index (CPI). The rate change
shall not exceed 15%, upwards or downwards, per year.
ARTICLE 4
USES AND PRIVILEGES
Lessee shall have the right to use the Premises for operation of an
airline including: training, aircraft modifications, and other related airline
functions and for no other purpose.
Lessee may use the common use areas for the purposes for which they
are designated; such common use areas include, but are not limited to
roadways, walkways, water, and restroom facilities.
Lessee shall also have the general use, in common with others
authorized so to do, of all public Airport facilities and improvements which
are now or may hereafter be connected with or appurtenant to said Airport,
including, but not limited to, City owned approach areas, runways, taxiways,
public aprons, aircraft and automobile parking areas, roadways, sidewalks,
navigational and aviation aids, terminal facilities as may be constructed, or
other City owned facilities appurtenant to said Airport.
Lessee shall have the right of ingress and egress from the Premises
over and across City owned roadways serving the Airport for its employees,
representatives, agents, patrons, guests and suppliers, subject to such laws,
ordinances, rules, and regulations as now or may hereafter have application at
the Airport.
City hereby retains the right of ingress and egress over, through
and across the Premises at any time and the right to provide substitute
ingress or egress if such becomes necessary.
With regard to signs:
1. Lessee shall obtain prior written approval fro City to erect,
maintain, or display any signs on the Airport, or the Premises. The term
"signs" as used herein shall mean advertising signs, billboards,
identification symbols, or any similar device.
2. Subject to the foregoing, Lessee shall have the right to
install identification signs as may be necessary for the proper conduct of
Lessee's business as contemplated hereunder. All such signs shall be
consistent with any overall signing program established or to be established
by the airport's Director.
3. Prior to the erection, construction, or placing of any sign
on the Airport, or upon the Premises, Lessee shall submit for City's approval
drawings, sketches, designs, and dimensions of such signs and obtain City's
approval. Approval shall not be unreasonably withheld. Any conditions,
restrictions, or limitations with respect to the use thereof as imposed by
City in writing shall become conditions of this Lease.
ARTICLE 5
MAINTENANCE AND REPAIRS
Lessee shall keep the Premises, including its fixtures and equipment
in good repair and in a clean, neat, safe, sanitary, and orderly condition at
all times and shall make all necessary, appropriate, and equivalent repairs,
replacements, and renewals hereof. Lessee shall be responsible for any damage
caused to the structure or common use areas due to Lessee's negligence and
shall pay for the same.
Lessee shall not permit rubbish, debris, waste materials, or
anything unsightly or detrimental to health or likely to create a fire hazard
or conducive to deterioration to remain on any part of the Premises; that same
shall be stored in a manner satisfactory to the City.
Lessee shall make or cause to be make, at its cost and expense, all
repairs and maintenance of the structure, except common use areas and any
repairs necessary due to damages caused by City's agent's or employee's
negligence.
ARTICLE 6
Lessee shall obtain the prior written approval of City before making
or causing to be made any alterations, changes in, and additions to, the
Premises, which approval shall not be unreasonably withheld. Any such
construction, change in and/or additions to the Premises shall be at the cost
of Lessee.
Prior to making any such alterations, changes in, and/or additions
to the Premises, Lessee shall obtain all required and necessary building
permits from appropriate jurisdictions at Lessee's sole cost and expense.
All such alterations, changes or additions to the Premises shall
become, immediately upon completion, the property of City and shall remain
upon and be surrendered with the Premises at the
expiration or termination of this Lease, as herein provided. All such
alterations, or additions shall be open for inspection by the City's agents at
all reasonable times.
ARTICLE 7
REMOVAL AND DEMOLITION
Lessee shall not remove or demolish, in whole or in part, any
improvements upon the Premises without the prior written consent of City which
may, at its discretion, condition such consent upon the obligation of Lessee
to replace the same by a reasonable improvement specified in such consent.
ARTICLE 8
TAXES AND LICENSES
Lessee agrees to pay, on or before the last day on which payment
therefore may be without penalty, all nondiscriminatory taxes, assessments or
charges which during the term hereof may become a lien or be levied by the
State, County, City or other tax levying body on Lessee's personal property,
upon all improvements made to the Premises by Lessee in connection with issues
and occupancy thereof, and upon the possessory interest, if any, of Lessee in
the Premises, which shall specifically include, but not by way of limitation,
any taxes levied under Utah Code Section 59-4-101, as amended,
or its successor if
applicable.
ARTICLE 9
RULES AND REGULATIONS
In conducting its operations hereunder, Lessee shall comply with all
applicable Federal, State, County, and City laws, rules and regulations in its
use of the Premises.
ARTICLE 10
INSURANCE
Lessee, at its own cost and expense, shall secure and maintain the
following policies of insurance:
1. Comprehensive Third-party Public Liability Insurance. Public
liability coverage for injury to property and person including owned and non-
owned aircraft parts and vehicles, and such other coverage as may be necessary
to protect City herein from such claims and actions. Said insurance shall
have limits of not less than $1,000,000 combined single limit each occurrence.
2. All Risks Coverage Insurance. Lessee shall insure for fire
and all risks coverage any and all Lessee improvements on the Premises. Such
insurance shall be in an amount equal to the full insurable replacement value
of such improvements.
(a) Such all risks coverage insurance policies shall contain
loss payable endorsements in favor of the parties as their respective
interests may appear hereunder.
(b) Such all risks coverage insurance policies placed upon the
Premises may have a loss payable clause in favor of any mortgagee or lender of
Lessee, as its interests may appear.
All policies of insurance provided herein shall be issued by
insurance companies listed on the current Department of the Treasury Fiscal
Services lest 570 or having a general policy holders rating of "A" plus in the
most current available "Best's" Insurance Reports, and be qualified to do
business in the Sate of Utah.
Certificates evidencing such insurance coverage shall be filed with
City upon execution of this Lease. Such certificates shall provide that such
insurance coverage will not be canceled or reduced without at least thirty
(30) days prior written notice to City, and shall have no reservations of non-
liability for failure to notify. At least thirty (30) days prior to the
expiration of any such policy, a certificate showing that such insurance
coverage has been renewed shall be filed with City. If such insurance
coverage is canceled or reduced, Lessee shall within fifteen (15) days after
receipt of written notice from City of such cancellation or reduction in
coverage, file with City a certificate showing that the required insurance has
been reinstated or provided through an insurance company(s) qualifying under
subparagraph B hereof.
In the event that Lessee shall at any time fail to furnish City the
certificate or certificates required, City, upon written notice to Lessee of
its intentions to do so, shall have the right
to secure the required insurance, at the cost and expense of Lessee, and
Lessee agrees to reimburse City promptly for the cost thereof and ten percent
(10%) for cost of administration.
All insurance policies shall name and the certificates shall show
the City as an additional insured.
ARTICLE 11
DAMAGE OR DESTRUCTION OF PREMISES
If the Premises are completely destroyed as a result of negligence
by Lessee, City may, in its discretion, require Lessee to repair and
reconstruct the Premises and pay the costs therefor.
If the Premises are completely destroyed by means other than an act
or the negligence of Lessee, Lessee shall not be required to reconstruct the
Premises except at its option. During such construction period Lessee's rent
shall be abated.
The City and Lessee agree:
(a) that should the demised premises, or any part of them, or
any portion of the building of which the demised premises form a part, be
partially destroyed by fire or other casualty the proceeds of insurance shall
be used to restore the Premises to its condition just prior to destruction as
is reasonably possible, provided such repairs and restoration can be made
within a reasonable period of time after the occurrence of the damage, and
until such repairs and restoration are completed, the rent shall be
abated in proportion to the part of the Premises which is unusable by Lessee
in the conduct of its business; and
(b) that if such repairs and restoration cannot by made within
ninety (90) days, the Lessee shall, upon five (5) days prior written notice to
City, have the right to cancel and terminate this Lease, at the option of the
Lessee.
ARTICLE 12
TIME
Time os of the essence wit respect to this Lease, including all the
terms, conditions, and performances required under the Lease.
ARTICLE 13
CANCELLATION OF LEASE
This Lease shall be subject to cancellation by Lessee after the
happening of one or more of the following events:
1. The permanent abandonment of the Airport as a public airport
facility.
2. The lawful assumption by the United States Government, or any
authorized agency thereof, of the operation, control, or use of the Airport or
any substantial part or parts thereof, in such a manner as substantially to
restrict Lessee for a period of at least ninety (90) days from operating
thereon.
3. Issuance by any court of competent jurisdiction of an
injunction in any way preventing r restraining the use of the
Airport, and the remaining in force of such injunction for a period of at
least ninety (90) days.
4. The default by City in the performance of any covenant or
agreement herein required to be performed by City and the failure of city to
remedy such default for a period of thirty (30) days after receipt from Lessee
of written notice to remedy the same.
5. The complete destruction of the Premises and, failure to
replace said improvements within twelve (12) months after said destruction.
6. Any activity or event beyond the reasonable control of Lessee
which substantially restricts Lessee's use of the Premises for a period of
thirty (30) days after giving City thirty (30) days written notice.
Lessee may exercise such right of cancellation at any time after the
lapse of the applicable period of time. Rentals and fees due hereunder shall
be payable only to the date of said cancellation. Upon such cancellation
Lessee shall have the right to remove all improvements on the property.
This Lease may be canceled by the City if Lessee:
1. Is in arrears in the payment to City of the whole or any part
of the amounts agreed upon hereunder for a period of thirty (30) days after
receipt of written notice from City.
2. Makes a voluntary or involuntary assignment contrary to
Article 14 hereof.
3. Abandons the Premises.
4. Except for payment of rents and fees, defaults in the
performance of any of the covenants and conditions required herein to be kept
and performed by Lessee, and such default continues for a period of thirty
(30) days after receipt of written notice form City of said default. If the
nature of the default is such that it cannot be cured within thirty (30) days,
Lessee shall be deemed to have cured such default if it shall within such
thirty (30) day period commence performance and thereafter, in City's sole
judgment, diligently continue the same to completion.
In the case of cancellation by the City, City may take immediate
possession of the Premises and all improvements thereon, and at its option may
(1) take title to the improvements by paying Lessee their salvage value; or
(2) require Lessee to remove the improvements and restore the premises to
their original condition.
ARTICLE 14
ASSIGNMENT AND SUBLEASING
The Lessee shall not voluntarily or involuntarily assign, transfer,
sublease, pledge, hypothecate, surrender or otherwise encumber or dispose of
this Lease or any estate created by this Lease, or any interest in any portion
of the same, or permit any other person or persons, company or corporation to
occupy the Premises without written consent of the City being first obtained,
which consent, except for involuntary actions, shall not be unreasonably
withheld.
ARTICLE 15
REMOVAL OF PERSONAL PROPERTY
Title to personal property shall at all times remain in Lessee, and
Lessee shall have the right at any time to remove any or all personal property
of every kind and nature whatsoever which Lessee may have placed or installed
upon the Premises. Any and all tools, devices, appliances, furniture,
pictures, furnishings, and supplies, of every kind and nature, heretofore or
hereafter placed or installed by Lessee on the Premises, as between City and
Lessee, shall be and remain the personal property of Lessee, notwithstanding
the same are or may be attached to the floors, ceilings, or any other parts of
any buildings or structures on the Premises. Lessee shall have said right to
remove same provided that, upon any such removal, Lessee shall repair, at its
own expense, any damage resulting therefrom and leave the Premises in clean
and neat condition, with all improvement in place.
Upon termination of this Lease, City shall be entitled, upon written
request, to ave Lessee remove all personal property from the Premises within
thirty (30) days after said termination. If Lessee fails to remove said
personal property, if so requested by City, said property may after thirty
(30) days be removed and stored by City at Lessee's expense, plus ten percent
(10%) of the removal and storage expense for cost of administration.
ARTICLE 16
INSPECTION OF PREMISES
City, it agents, or employees may with reasonable notice enter upon
the Premises at any and all reasonable times during the term hereof for the
purpose of determining whether or not Lessee is complying with the terms and
conditions hereof of for any other purpose incidental to rights of City. If
Lessee is in violation of any of the covenants of this Lease and fills to
correct said violations as provided herein, the City may elect, in lieu of
cancellation, to provide that the necessary action be taken a the cost and
expense of Lessee, and Lessee agrees to reimburse City promptly for the cost
and expense there together with ten percent (10%) for the cost of
administration.
ARTICLE 17
FORCE MAJEURE
Except for payment of any sum due the City from Lessee hereunder,
any prevention, delay, or stoppage of performance of Lessee's or City's
obligations hereunder due to strikes, lockouts, labor disputes, acts of God,
labor or materials or reasonable substitutes therefor, governmental
restrictions, governmental controls, governmental regulation enemy or hostile
government action civil commotion, force or other casualty, or any other
causes beyond the reasonable control of either shall not be deemed to be a
breach of this Lease or a violation of or failure to perform any covenants
hereof, and either shall have a reasonable time after cessation of any of such
causes within which to render performance delayed thereby.
ARTICLE 18
SPONSOR'S ASSURANCES
This lease shall be subordinate to the provisions of any existing or
future agreements between City and the United States Government, and any
applicable Federal laws or regulations relative to the operation and
maintenance of the Airport, the execution of or compliance with which has been
or will be required as a condition precedent to the granting of Federal funds
for the development of the Airport to the extent that the provisions of any
such existing or future agreements are generally required by the United States
at other civil air carrier airports receiving Federal funds and provided that
City agrees to give Lessee written notice in advance of the execution of such
agreements of any provisions which will modify the terms of this Lease.
This lease is a "net" lease. It shall be Lessee's sole
responsibility to develop maintain, repair, and operate the entirety of the
Premises and all improvements at its own expense.
ARTICLE 19
QUIET ENJOYMENT
City warrants that the Premises is zoned to permit the uses provided
for in this Lease. City represents that it has a marketable title and
unencumbered fee interest to the Premises. City will defend Lessee's right to
quiet enjoyment of the Premises from the claims of third persons.
ARTICLE 20
RIGHT OF FLIGHT
Lessee understands and agrees that City reserves the right of flight
for the passage of aircraft above the surface of the Premises hereunder in
accordance with Federal Aviation Administration criteria, and such noises as
may be inherent to the operation of aircraft now know or hereafter used for
navigation of or flight in the air; and that City reserves the right to use
said airspace for landing at, taking off from, or operating aircraft on or
over said Airport.
ARTICLE 21
REDELIVERY OF PREMISES
Lessee shall upon termination of this Lease quit and deliver up the
Premises to City peaceably, quietly, and in as good order and condition as the
same now are or hereafter be improved by Lessee or City, normal reasonable
use, wear, tear, and deterioration excepted.
ARTICLE 22
HOLDING OVER
In the event Lessee remains in possession of the Premises after the
expiration of this Lease without any written renewal thereof, such holding
over shall not be deemed as a renewal or extension of this Lease, but shall
create only a tenancy at will from month to month which may be terminated at
any time by City giving thirty (30) days prior written notice of termination.
ARTICLE 23
SECURITY
Lessee's use of the Premises and the Airport shall at all times be
subject to regulations imposed by FAR ▇▇▇ "▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇," as amended.
Lessee agrees that it shall be solely and fully responsible for any and all
breaches of security on or through the Premises and other joint operation
areas of the Airport resulting from the negligence or intentional acts of
omission or commission of officers, employees, representatives, agents,
servants, subtenant, contractors, subcontractors, successors, assigns, and
suppliers of Lessee.
ARTICLE 24
HAZARD COMMUNICATIONS STANDARD
Lessee agrees at all times hereunder to be subject to regulations
imposed by Code of Federal Regulations Section 1920.1200 "Hazard Communication
Standard." Lessee agrees that it shall be solely responsible for any and all
violations of the Hazard Communications Standard resulting form the negligence
or intentional acts of omission or commission of officers, employees,
representatives, agents, servants, subtenants, contractors, subcontractors,
successors, assigns and suppliers of Lessee.
ARTICLE 25
INDEMNITY
Lessee agrees to indemnify, save harmless and defend City, its
agents and employees from and against any claims, mechanics, liens, damage,
demands, actions, costs, charges and other liabilities for property damage or
injury or death to persons, including attorney's fees, arising out of or by
reason of the operation of Lessee's business on the Premises, or other use of
said Premises, by Lessee, its agents or employees during the term of this
Lease, and from Lessee's breach thereof.
The City assumes no responsibility for any damage or loss that may
occur to Lessee's property except the obligation the City assumes that it
willfully, intentionally, or negligently damage the property of Lessee.
ARTICLE 26
NON-DISCRIMINATION
The Lessee for itself, its heirs, personal representatives,
successors in interest and assigns, as part of the consideration hereof,
covenants and agrees that in the event facilities are constructed, maintained
or otherwise operated on the Premises for a purpose for which a Department of
Transportation program or activity is extended or for any other purpose
involving the provision or a similar service or benefit, Lessee shall maintain
and operate such facilities and services in compliance with all other
requirements, imposed pursuant to Title 49, Code of Federal Regulations
Department of Transportation, Subtitle Z, Office of Secretary, Part 21, Non-
Discrimination in Federally Assisted Programs of the Department of
Transportation, Effectuation of Title VI of the Civil Rights Act of 1964, or
as amended.
The Lessee, for itself, its successors and assigns, as part of
consideration herefor, agrees that no person on the grounds of race, color or
national origin, age, gender, or disability shall be excluded from
participation in, denied the benefits of, or be otherwise subject to
discrimination, in the use of the Premises, including the construction of any
improvements on, over or under the Premises and the furnishing of services
thereof.
In the event of a breach of any of the non-discriminatory covenants
pursuant to Part 21 of the Regulations of the Office of the Secretary of
Transportation, the City shall have the right to terminate this Lease and to
re-enter and repossess said land and the facilities thereon and hold the same
as if said Lease had never been made or issued.
The Lessee will undertake an affirmative action program as required
by 14 CFR Part 152, Subpart E, as amended, to ensure that no person shall on
the grounds of race, creed, color, national origin, or gender be excluded from
participating in any employment activities on the Premises covered in 14 CFR
Part 152, Subpart E. The Lessee will require that its subcontractors similarly
undertake affirmative action programs and that they will each require
assurances from their subcontractors, as required by 14 CFR Part 152, Subpart
E.
Lessee agrees that no right or privilege granted hereunder shall
operate to prevent any person, firm, or corporation operating aircraft on the
Airport from performing any services on its own aircraft, with its own regular
employees, including but not limited to maintenance and repairs that it may
choose to perform.
Nothing herein contained shall be construed to grant or authorize
the granting of an exclusive right forbidden by Section 308 of the Federal
Aviation Act of 1958, as amended.
ARTICLE 27
THIRD PARTIES
This Lease does not and shall not be deemed or construed to confer
upon or grant to any third part or parties, except to parties to whom the
Lessee may assign this Lease pursuant hereto and City's successor, any rights
to claim damages or to bring any suit, action or other proceeding against
either the City or the Lessee because of any breach hereof or because of any
of the terms, covenants, agreements, or conditions herein contained.
ARTICLE 28
AGREEMENT MADE IN UTAH
This Lease has been make in, shall be construed in accordance with,
and enforced under the laws of the State of Utah.
ARTICLE 29
SUCCESSORS
This Lease shall bind and inure to the benefit of any successor,
assignee of Lessee or City.
ARTICLE 30
HEADINGS
The Article headings contained herein are for convenience in
reference and are no intended to define or limit the scope of any provision of
this Lease.
ARTICLE 31
NON-WAIVER
Any waiver of any breach of covenants herein contained to be kept
and performed by the Lessee shall not be deemed or considered as a continuing
waiver and shall not operate to bar or prevent the City from declaring a
forfeiture or termination for any succeeding breach either of the same
condition or covenant or otherwise.
ARTICLE 32
NOTICES
Notices to City provided for herein shall be sufficient if sent by
registered mail, postage prepaid, addressed to:
Airport Manager
Provo City Corporation
▇.▇. ▇▇▇ ▇▇▇▇
▇▇▇▇▇, ▇▇ ▇▇▇▇▇
and notices to Lessee, if sent by registered mail, postage prepaid, addressed
to:
Alpine Air
▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇
▇▇▇▇▇, ▇▇ ▇▇▇▇▇
or at such other addresses as the parties may designate to each other in
writing from time to time.
ARTICLE 33
ENTIRE AGREEMENT AND ALTERATIONS
This Lease supersedes and revokes all previous negotiations,
arrangements, letters of intent, offers to lease, lease proposals, brochures,
representation, and information conveyed, whether oral or in writing, between
the parties hereto or their respective representatives or any other person
purporting to represent the City or the Lessee. Lessee acknowledges that it
has not been induced to enter into this Lease by any representations not set
forth in this Lease, it has not relied on any such representation or
construction of this Lease, and the City shall have no liability for any
consequences arising as a result of any such representations.
No alteration, amendment, change or addition to this Lease shall be
binding upon the City or Lessee unless in writing and signed by both parties.
IN WITNESS WHEREOF, the parties hereto have hereunto set their hands
and seals the day and year first above written.
PROVO CITY CORPORATION: ATTEST:
By: /s/
CITY RECORDER
Its:
LESSEE:
By: /s/
Its:
STATE OF UTAH ) : ss
COUNTY OF UTAH )
Subscribed and sworn to before me this day of
, 19 , by , who represented that having
authority to do so from Lessee s/he executed this Lease Agreement for and on
the behalf of Lessee.
NOTARY PUBLIC
LEASE SITE DESCRIPTION
COMMENCING AT A POINT WHICH IS 1840.92 FEET SOUTH AND 1325.28 FEET WEST FROM
THE EAST QUARTER CORNER OF SECTION 9, TOWNSHIP 7 SOUTH, RANGE 2 EAST, SALT
LAKE BASE AND MERIDIAN; (BASIS OF BEARING IS THE STATE COORDINATE SYSTEM);
THENCE S. 34 degrees 03'34" E. 150.00 FEET;
THENCE S. 55 degrees 56'26" W. 245.00 FEET;
THENCE N. 34 degrees 03'34" W. 150.00 FEET;
THENCE N. 55 degrees 56'26" E. 245.00 FEET TO THE POINT OF BEGINNING.
AREA= 0.8437 AC
NARRATIVE
SURVEYED AT THE REQUEST OF ▇▇▇▇ ▇▇▇▇▇▇▇, REPRESENTATIVE FOR ALPINE AVIATION,
FOR THE PURPOSE OF BUILDING CONSTRUCTION AND A NEW LEASE WITH PROVO CITY.
SURVEY COMPLETED: SEPTEMBER 9, 2000.
FOUND EVIDENCES ARE SECTION CORNER ONLY
SITE IS A NEW BREAK-OUT.
ALL CORNERS ARE MARKED WITH A NEW PIN CAPPED AND MARKED.
CERTIFICATE
I, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, DO HEREBY CERTIFY THAT I AM A REGISTERED LAND SURVEYOR AS
PRESCRIBED UNDER THE LAWS OF THE STATE OF UTAH. I FURTHER CERTIFY THAT BY
AUTHORITY OF THE OWNER, A SURVEY BY ME OR UNDER MY DIRECTION WAS MADE OF THE
TRACT OF LAND SHOWN ON THIS PLAT, AND THAT TO THE BEST OF MY KNOWLEDGE THIS
PLAT IS TRUE AND CORRECT.
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, L.S. DATE
28 AUG. 2000
ALPINE AIR
PROVO AIRPORT ADDITION
ASSIGNMENT OF PROVO CITY AIRPORT
LEASE AGREEMENT
Madison Escrow, Inc., of ▇.▇. ▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
(hereinafter referred to as "MEI"), hereby assigns to Alpine Aviation, Inc.,
of ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ (hereinafter referred to as
"Alpine"), all its right, title and interest in and to that certain Provo City
Airport Lease Agreement dated November1, 2000, by and between Provo
Corporation, as Lessor, and Madison Escrow, Inc., as Lessee.
Alpine hereby agrees to hold harmless and indemnify MEI from any
liability arising out of the Lease Agreement and warrants that it will fully
perform all the terms and conditions of said Lease Agreement.
Dated this Day of March, 2001.
MADISON ESCROW, INC.
By /s/
President
APPROVED this Day of March, 2001.
ALPINE AVIATION, INC.
By /s/
Its Chief Executive Officer
