3941 Schedule A - Lease Agreement Amendment - Airport Hanger - Jeff MillerWHEREAS
AMENDMENT TO LEASE AGREEMENT
Made this _th day of August, 2015
BETWEEN
THE CORPORATION OF THE TOWN OF TILLSONBURG
(hereinafter referred to as the "Lessor")
-and-
JEFF MILLER
(hereinafter referred to as the "Lessee")
The Lessor and Lessee entered into a Lease Agreement dated the 22nd day of June, 2015 (the
"Lease"), concerning the property legally described as Lots 5 & 6 and Part of Lots 2, 3, 4, and 7
Concession 7 Dereham (the "Property") in the Township of South West Oxford, County of Oxford,
Province of Ontario as more particularly described in the aforementioned Lease.
Contained on the Property is an airport (the "Airport"}, agricultural lands and buildings ancillary to
the use of the Airport.
The Lessee and Lessor agree to amend the aforementioned Lease pursuant to this agreement
(the "Amendment to Lease"):
In consideration for the covenants, payments and promises contained in the Lease and for the sum of
$5.00, the receipt and sufficiency of such is hereby acknowledged and for the covenants, promises and
payments contained herein, the Parties agree to amend the Lease as follows:
1. The Parties agree to amend the Lease as follows:
a. The second Recital shall be deleted in its entirety and the following shall be inserted to
replace the second Recital:
The Lessee is desirous to lease from the Lessor a portion of the Property being
70 feet wide by 64 feet deep comprising of approximately 4480 square feet as
marked on Schedule "A" (the "Premises") to construct a new aircraft hangar (the
"Hangar"). The Lessor acknowledges that the Hangar is not owned by the Lessor
but by the Lessee.
b. Article 2 (2) of the Lease shall be deleted in its entirety and the following shall be inserted
to replace Article 2(2):
(2) The Lessee covenants to pay to the Lessor, during the Term of this Lease rent
as follows (the "Base Rent"): For every year of the Term, the total sum of
$1 ,299.20 per annum plus H.S.T. (based upon $0.2900 per square foot of
building area}, and any other applicable services tax which may accrue on
account of the Lessor collecting rent, payable yearly in advance. Base Rent shall
commence on the first day of the Term. If the first day of the Term is not January
1st then Base Rent for the first year of the term shall be prorated until December
31 of the initial year. Base Rent shall then be due on 1st day of the year
commencing on January 1st, 2015 and every 1st day of January thereafter. The
Parties further agree that the Lessor may, in their sole and absolute discretion,
increase the Base Rent annually by the Consumer Price Index for the Province of
Ontario as established by Statistics Canada for the previous calendar year. The
Parties agree that all increases in the Base Rent by the Consumer Price Index
shall be cumulative. If the square footage of the Premises expands then Base
Rent shall accordingly increase in proportion to the additional square footage".
2. Article 5(5)(a) shall be deleted in its entirety and the following shall be inserted to replace Article
5(5)(a):
(a) The dimensions of the Hangar shall be 70 feet by 64 feet for a total of 4480 square
feet;
3. The Parties agree that subject to the terms of this Amendment to Lease that all other terms and
conditions as contained in the Lease shall remain in full force and effect and that unless
specifically modified or amended by this Amendment to Lease then all terms of the Lease shall
be unaltered.
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In Witness of the foregoing covenants the Lessor and the Lessee have executed
Lessor
Stephen Molnar, Mayor The Corporation of the Town of Tillson burg
I have authority to bind the Corporation.
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Donna Wilson. Clerk