PLACEMENT: Consent
TITLE:
title
APPROVAL OF SECOND AMENDMENT TO LEASE WITH APP STUART FBO, LLC, TO CORRECT A SCRIVENER'S ERROR IN THE LEGAL DESCRIPTION OF THE LEASED PREMISES
end
EXECUTIVE SUMMARY:
executive summary
This is a request for the Board to approve a Second Amendment to the Fifth Amendment and Complete Restatement of Agreement of Lease ("Second Amendment") between Martin County and APP Stuart FBO, LLC ("APP"). The purpose of the proposed Second Amendment is to correct a scrivener's error in the legal description of the leased premises.
body
DEPARTMENT: Airport
PREPARED BY: Name: Sam Carver
Title: Airport Manager
REQUESTED BY: APP Stuart FBO, LLC
PRESET:
PROCEDURES: None
BACKGROUND/RELATED STRATEGIC GOAL:
1. Instrument Prepared by: Martin County
APP Stuart FBO, LLC
2. Parties to the Instrument: Martin County
APP Stuart FBO, LLC
3. Purpose: To correct a minor scrivener's error in the legal description
of the leased premises
4. New/Renewal/Modified: New
5. Duration: N/A
6. Benefits to Martin County: To ensure accuracy of the legal description of the leased
premises
7. Costs to Martin County: None
On November 14, 2017, Martin County and Atlantic Aviation-Stuart LLC ("Atlantic") entered into that certain Fifth Amendment and Complete Restatement of Agreement of Lease (the "Lease") pursuant to which Martin County leased to Atlantic approximately nineteen (19) acres of real property located at the Martin County Airport / Witham Field. The initial term of the Lease is thirty (30) years and may be renewed at the tenant's option for one (1) additional term of ten (10) years, subject to the terms and conditions set forth in the Lease.
On April 7, 2022, the Board approved the assignment of the Lease from Atlantic to APP.
On November 15, 2022, the Board approved a First Amendment to Lease, whereby the parties agreed to extend the deadline for completing the proposed impro...
Click here for full text