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Home My WebLink AboutMINUTES - 07271993 - 1.13 TO: BOARD OF SUPERVISORS FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR DATE: JULY 27, 1993 SUBJECT: BUCHANAN FIELD AIRPORT - BUCHANAN FIELDS GOLF COURSE, INC. - LANDLORD'S CONSENT AND SECOND CONSENT TO ASSIGNMENT OF LEASEHOLD INTEREST SPECIFIC REQUEST(S) OR RECOMMENDATION(S) &BACKGROUND AND JUSTIFICATION I. Recommended Action: APPROVE AND AUTHORIZE the Public Works Director to EXECUTE, on behalf of the County, a Landlord's Consent and a. Second Consent to Assignment of Leasehold Interest, between County's tenant, Buchanan Fields Golf Course, Inc. (BFGC) and BFGC's lender, as provided in County's lease with BFGC. II. Financial Impact: There will be no financial impact on the County from this action. III. Reasons for Recommendations and Backttround: The Buchanan Fields Golf Course, Inc.is completing construction of its improvements on its leased premises at the Buchanan Field Airport, as provided in BFGC's lease with County, and is seeking long-term financing for these improvements. As a condition of the loan and as provided in the Lease, BFGC's lender, Concord Commercial Bank (Lender), requires County's consent to BFGC's assignment of its leasehold interest to Lender. County's approval of the Landlord's Consent and of the Second Consent to Assignment of Leasehold Interest will satisfy Lender's request in providing the loan to BFGC. Continued on Attachment: No SIGNATURE: RECOMMENDATION OF COUNTY ADMINISTRATOR RE,9DMMENDATION OF BOARD COMMITTEE APPROVE OTHER SIGNATURE(S): ACTION OF BOARD ON At 2 7 1993 APPROVED AS RECOMMENDED OTHER VOTE OF SUPERVISORS ✓ UNANIMOUS (ABSENT ) AYES: NOES: ABSENT: ABSTAIN I hereby certify that this is a true and correct copy 7t HEW:DRA: an action taken and entered on the minutes of the Board of Supervisors on the We shown. c:BFGCasn2.brd3 ATTESTED: ...tt 1 9 7 J4 --- PHIL BATCHELOR,Clerk of the Board Orig Div:Airports (Dick Awenius 646-5722) of supervisors and County Administrator cc: County Administrator Public Works Director By ,„b is _� L ! __ _,Oeputy Public Works Accounting Auditor/Controller Aviation Advisory Committee Federal Aviation Administration Concord Commercial Bank, attn: Peter Burnett Buchanan Fields Golf Course, Inc.,-attn: Tim Sullivan RECORDATION REQUESTED BY: i CONCORD COMMERCIAL BANK P.O.DOD 60a7 2118 WILLOW PASS ROAD CONCORD,CA 114640-2430 WHEN RECORDED MAIL TO: CONCORD COMMERCIAL BANK P.0.HOX 6087 2118 WILLOW PASS ROAD CONCORD,CA 94520-2430 SEND TAX NOTICES TO: CONCORD COMMERCIAL BANK P.0.BOX 8087 21 IS VALI OW PASS ROAD CONCORD,CA 94540-2430 SPACE ABOVE THIS LtW 18 FOR RECORDER'S USE C1w1LY ' LANDLORD'S CONSENT THIS L.AN ILORD'S.CONSENT Is entered into among BUCHANAN FIELDS GOLF COURSE,INC.('Borrower'}L wlwas addrea6 la WIN CONCORD AVENUE.CONOOfID6 CA 94520;CONCORD COMMERCIAL BANK(%wWorl.Whose address Is P.0.13OX 8087,2110 WILLOW PASS ROAD, CONCORD,CA 04520-2M;and COUNTY OF CONTRA COSi'A 1 MANAGER.OF AIRPIMTS("Landlord"),vAmme,addram is 510 SALLY RIDE DRIVE,OONCOA%CA. 8452A. Borrower sing Lender have enlarod into,or are about to enter brio.an agreement whereby Lander has acquired or will noquire a sealrlty kMMM of Outer kiterest In`Ste CctaWal. Sarno or all of Ute Collateral may be atttxed or otherwise beaorns located on the Pwrisse. To Induce Lander to mdend the Loan to Borrowar against such so=* kRereat in the Collateral and for other valuable ooaloldardork Landlord hereby agfeee whh Lander and Borrmw as tollawe. . DEFflItTIONS. The topowirg words anal have the following meardngle wharf used b this Agraarnent. Terms not offmrwise defined In this Agreernerrt shall haus the meanings attributed to such terms In the Unfbrrn Con riamlei Code. AN telmerrcos to dollar amounts shall mom amounts In lawkd money of the United3udmUfAmedca. in writing and signed by the parties hereto AgnaamerLL Tho word"Agrearnent'I, no this Lw44ofd's Consent.Ire"(ardbndb Consent malt be amended or mod6od fur lime to time, Welethor w11h a2 a and a N4dies*MChed to Otis Landlord'a Ca�eard trth oWns b sats. •`` ftno lf. The ward"Borrower'rnimm BUCHANAN FIELDS GOLF COURSE.INC_ Collateral. Tha word"Cdlaterar moans oertaln of Borrower's personal propertyin which Landar has aoquhW or va acqure a Boouft hams t, Including vAffmd firnitation the folbvulrtg 9peoft property: Art Inventory,Aocourtta,Contract Rlghle,EgalpnmiL Genn d bdangibtee and Fbawim,buluding but not Mmfted to ALL ACCOUNTS. CHATTEL PAPER,CONTRACT RIGHTS AND GENERAL INTANOBLES NOW OWNED OR HEREAFTER ACQUIRED BY BORROWER. ALL RETURNED OR REPOSSESSED GOODS NOW OWNED OR HEREAFTER ACQUIRED RY t3ORROWER WHICH, ON SALE OR LP.ABE, RESULTED iN AN ACCOUNT OR CHATTEL PAPER. ALL EQUIPMENT NOW OWNED OR HEREAFTER ACOUIRED. ALL. 14VENTORY NOW OWNED OR HEREAFTER ACOUIRED BY BORROWER.ALL BORROWER'S PRESENT AND FUTURE BOOK AND FINANCIAL RECORDS PERTAINING TO THE ASWE PROPERTY AND F-OWMENT CONTAINING SAID BOOKS AND RECORDS.THE PROCEEDS FROM THE SALE OF ANY LIQUOR LICENSE NOW OWNED OR HEREAFTER ACQUIRED BY BORROWER. LB mond. The ward"Landlord"means COUNTY Or CONTRA COSTA f MANAGER OF AIRPORTS. The term'Landlord'is used for conventanoe purposes orgy. Landlord's interest in the Pramiees may be that of a tee owner,lessor, subiessar or lienhoidor,or that of any other holder of an kilerost In the Premises which may be,or may become,prior to the(nlere9t Of Lander. Dasa. The word"L,oase'rnearm that cortaln base of the Premtsee. dated October 1, 1881, between Landlord and Borrower, The lease was recorded as iolows: MEMORANDUM OF LEASE RECORDED 09-24-92 AT 2:00--0'CLOCif;CONTRA COSTA COUNTY RECORDS. Lender. Tho word'Landoe moans CONCORD COMMERCIAL BANK,Its succeseor8 and asetgne. Low The word"Loan moans tha ban,or any other ananoW moontmodailons.Lender has mado or is maWntg to Borrower. Prrmisos. The word'Premises"means the red property(ocatod In CONTRA COSTA"Itale,of Catlfornla, conn my known as 8930 CONCORD AVENUE,CONCORD,CA 945M,and hValy dosorlbod as: SEE EXHiBiT"A"ATTACHED HEAT O AND MADE A PART HEREOF. BORROWER'S ASSIGNMENT OF LEASE. Sommer hereby assigns to Lender all of Borrower's rights In the Lease,as Partial security for the loan. The pones Intend that this assignment vral be a present transfer to Lender of all of borrower's rights under the Lease,subject to Borrower's rigto to use On Premises and enjoy the bonetitss of the Dasa whlle not In default on the Loan or Lease. Upor,full perfumtanm by Borrower under the Loan, this assignment shall be ended, without the necessity of any furgter action by any of the parties. This assignment Indudes all renewals of and amondmerrts to the Lease or the Loan,until the Loan Is pall in full. No amendmsms may be made to the Lease wlthout Lender's prior written consent, which shall not be unressonabiy vAthtmAd or delayed. C R43M OF LANDLORD. Landlord oonserds to the above assignment. a Borrower delaufts under the Doan or the Loam,Lender may reassign the Le and Landlord agrees that Landlord's oom*nt to any such reassignmem will not be unreaaonabty whhheld or delayed. iso long as Lender has e ad the Premises for the purpose of operating a twalnoss.Lender wal have no Nabi ty under the Lease.Inotuding without lintlation liablilty for rent. 1Mtmhor or not LBndor orders Into possuateon of the PrerWees for any purpose, Borrower will remarn fully liable for all obTgations of Borrower as lessee under the Losse. While Lender is in possession of the Pfemisee.Lender will cause all psyrnents due under the Lowe and attributable to that period of Urns to be made to Landlord. if Lender latex reassigns the I ease or vacates the Premises,Lsndrtt vwfli have no further obligation to LBndtord. LEASE DEFAULTS. Both Borrower and Landlord agree and represent b Lander that,to the Hest o1 theM knowledge,there lo no broach or atfseit wristirg under the Lease or under any other agreement between Borrower and Landlord. Landlord agrees not to temtinate the Leas&, despite any * only wiLh the prior written consent of Landlord, . i 4 I -�, ,-,�� ► LANDLORD'S CONSENT page 2 4 Loan No 10641 (Confinuod) detatrh by Harrower,without giving tender written notice of the delautt and an oppownity to cure the default wa#dn a period of abcty(00)dors from the rocelpi of 1he notim It the detautt is one that cannot teseonably Dol cuted by Lender(birch as inso(vency,bavktuplW,or other yudicW proceedings against Borrower),then Landlord will not terminate the lease sa long as Landlord receives all sums due under file tease for the period during which Lander Is in possasslon Cd the Pmrrdms„Su 90 long as Lander reassigns the Leese to a now lessee rerteomWy sauahactory to Landlord. IISCLAIMER OF INTEREST. Landlord hereby coneems to L.endWe security Interest(or other Interest)In the Collateral and die &Ww aA Interests,Liens I nd Calms which Landlord now has or may hereafter acquire fn the Collateral. landlord agrees that any Ilea or dalm If may now have or may hereafter have in the CMatwal Wlfl be sub)ect at all times to Lomas securtty-tntetem(or other preaerA or future Interest)kn the Oollederal and Wit be ou6)ect to the tighte granted by Land"to Lender in this Agreement. ENMV ONTO PREMISES. Landlord and Borrower grant I*lander the right to artier upon the promises for the purpose of removing the Colateral from the Premises or aonduCting sales of the Collateral on the Premises, The rights granted to tender in t#m Agreem nt will continue until a maeonabio tiring after Lender receives notice In wrtdng from Landlord that Borrower no longer to In lawful posse"lon of the Prerrfses. if Lander eniera onto the PrerrtlBest and removes"Collateral,lander agrees with Landlord not to retrrove any C:ouatend in such a way that the MGM—are damaged,without elther repairing any such damV9 or rain txrraing Landlord for the oust of repair. LEASEHOLD INTEREST. ILMEVAOLD INTEREST AND ALL INTERESTS CREATED BY INSTRUMENTS ATTACHED AS EMBI TS TO THAT LEASE BEiWEEN THE COUNTY OF CONTRA COSTA AND BUCHANAN FIELDS GOLF COURSE.INC.DATED OCTOBER 1,Joel,AND SUBJECT TO THAT MEMORANDUM OF LEASE DATED SEPTEMBER 22, 1Bf12, BY AND 6FrWEEN CONTRA COSTA COUNTY AND BUCHANAN FIELDS 13OLF COURSE,INC.WHICH WAS RECORDED SEPTBABER 24,1992 AT 2AQ O-CLOCK PM,CONTRA COSTA COUNTY RECORDS. DEFAULT CLAUSE. BORROWER SHALL BE IN DEFAULT IF BORROWER BREACHES OR FAILS TO PERFORM ANY OF THE TERMS AND CONDITIONS OF THE PROMISSORY NOTE,OOMMERCIAL SECURITY AGREEMENT.BUSINESS LOAN AGREEMENT,DEED OF TRUST,OR SBA AUTHORIZATION AND AGREEMENT. f any MiSCELLANEOUS PROVISIONS, Tills Agmemern shat eXtend to and the respective heirs.personal reprsaettmtMes,summoom and assigns of the parties to this Agreement. The covenants of Borrower and Lands mgmcdng subordination of the daim or Ciakns of Landlord in favor of Landor shad ordsnd to,include,and be enforceable by any iranateroe or m.whpm Lender may trarnsler any da1n or cislrm to which this Agreement shall apply. Lander need not ttocapt this Agreement In wilding or otherwise to nwke Lt elteetive. This Agreement shall be governed by and construed In accordance with Nie laws of the State of Calilomia. b Landlord is other than an Individual,any agent or other person executing this Agreement on bohad of Landlord represents and warrants to Lender that he or ehe has full power and mommity to exeowe this Agreement on Landlord's behalf. Lander"I not be doerrad to have waived any rights under this Agreement unless such waiver is In tmtUng and signed by Lander.7fi>j r>� UT Landlord and wfthom affecting the valkUty of this Consent, Lender may do or not do anything It deems appropilate or necessary with map6d to the Loan,any obligors on Lha Wan,or my Collateral for the Loan;Including whrout lirnMrdion extsnang,renewing,remnii tgin%or socelarating any of the Wan Indebtedness. No delay or ornieslon 4n the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A walvet by Lender of a provision of this Agm mere shall not oonstlfute a welver of or prejudice Lender's right otherwise to demand Mild t Cof Vlianos with Mal pnovislon or any other provision. Whenever consent by Lander Is required in this Agraernant,are granting of such consent by Lander-in any one Instance ehal not constitute continuing oofteard to subsequent Mstanaes where such consent is required. BORROWM AND LANDLORD ACK10O'WLED E HAYINU READ ALL THE PIICffl=MS OFTMS LANDLORD'S CONSENT,AND WRROWER AND LANDLORD AGREE TO 11S TERMS. THM AGREEMENT IS DATED JULY 1,lti& OMHOWER: SUCHAWW FIELDS GOLF COURSE.INC. TIMOTHY J.L3UWVAK PRESIDENT � ROGER L.KELSEY,SECRETARY LANDLORD: LENDER: COUNTY OF CONTRA COSTA I MANAGER OF AIRPORTS O0HOORD COMMERCIAL BANK x er `undlord'B Signature - - Authorized loftiest * or. 90 long as the prernisetl is being operated in accordance with the terms of the lease,