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3462 To enter into an amendment: to Lease Agreement with Bruce Bird, carrying on business as Spectrum Aviation.THE CORPORATION OF THE TOWN OF TILLSONBURG BY-LAW NUMBER 3462 A BY-LAW to enter into an amendment: to Lease Agreement with Bruce Bird, carrying on business as Spectrum Aviation. WHEREAS The Town of Tillsonburg is desirous of entering into an Amendment Lease Agreement with Bruce Bird regarding the lease at the Tillsonburg Municipal Airport. THEREFORE the Council of the Town of Tillsonburg enacts as follows: 1. THAT the Amending Lease Agreement attached hereto forms part of this by-law; 2. THAT the Mayor and Clerk be hereby authorized to execute the attached agreement on behalf of the Corporation of the Town of Tillsonburg. READ A FIRST AND SECOND TIME THIS 8th DAY OF November, 2010. READ A THIRD AND FINAL TIME AND PASSED THIS 8th DAY OF November, 2010. aybr - Stephen Molnar Clerk - Donna Hemeryck AMENDMENT TO LEASE AGREEMENT BETWEEN THE CORPORATION OF THE TOWN OF TILLSONBURG (hereinafter referred to as the "Lessor") - and - BRUCE BIRD carrying on business as Spectrum Aviation (hereinafter referred to as the "Lessee") WHEREAS The Lessor and Lessee entered into a Lease Agreement dated the 23rd day of February, 2006 (the "Lease"), concerning the property legally described as Part of Lots 4, 5, 6 and 7 in the Township of South West Oxford, County of Oxford, Province of Ontario (the "Property") 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 $2.00, 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. Contained in Preamble of the Lease, the Lessee was to lease from the Lessor a portion of the Property being 78 feet by 44 feet for a total area of 3,432 sq. ft. (the "Premises"). The Parties agree that the Lease is hereby amended so that the Lessee shall lease a portion of the Property being 78 feet by 44 feet with an expansion of 32 feet by 80 feet for a total area of 5,992 square feet (the "Premises"). 2. The Parties agree that the Lease is hereby amended to include a new provision, Paragraph 5(5), as follows: 5 (5) The Lessee hereby agrees to construct an expansion as follows: (a) the dimensions of the expansion shall be 32 feet by 80 feet; (b) the style of the Hangar shall be metal frame with metal siding; (c) the siding and roof colour will conform to existing buildings and be approved by the Lessor; (d) the construction and site plan of the Hangar shall comply with all I applicable building code standards and by-laws of the municipality in which the Premises are located including the Town of Tillsonburg and any federal or provincial statutes, rules or regulations; (e) the building elevation drawings, including the type of hangar door, shall be subject to approval by the Lessor, acting reasonably, but in the best interests of the Town of Tillsonburg and/or the Airport; (f) all necessary permits shall be obtained by the Lessee at the sole expense of the Lessee; and, (g) the Lessee shall be responsible for and pay the cost of all construction costs and nothing in this Lease shall render the Lessor responsible for any such costs. 3. The Parties agree that the Lease is hereby amended to include a term that the Lessee agrees to provide a payment of $2,000.00 as a contribution towards future taxiway improvements, which payment will be made in four (4) equal contributions added to the annual rent commencing in 2011. 4. The Parties agree that Paragraph 3 — Terms and Possession is hereby amended to extend the lease expiration date for an additional five years from December 31, 2011 to December 31, 2016. 5. The Parties agree that subject to the terms of this Amendment to Lease that all other Terms and Conditions in the Lease are in full force and effect and that unless specified in this Amendment to Lease then all terms of the Lease shall be unaltered. In Witness of the foregoing covenants the Lessor and the Lessee h s executed this Lease. d' ft' Lessor Stephen Molnar, Mayor The Corporation of the Town of Tillsonburg have, autho ;' Oq bind the Corporation. nom. Less Kelley Coulter, CAO The Corporation of the Town of Tillsonburg have authority to bind the Corporation. Bruce Bir -4(,777 I have authority to bind the Corporation.