Site A3-1 Lease Assignment/Sands to McElroyI
I
ASSIGNMENT
OF
HANGAR SITE LEASE
The parties to this agreement are THE CITY OF KALISPELL, a municipal
corporation (the City), TOM SANDS owner of T-Air LLC (the tenant) and
McElroy Holdings LLC, a Montana Limited Liability Company (the new tenant)
RECITALS
The City and Tenant entered into a Hangar Site Lease for parcels of property
located on the Kalispell City Airport, described as: A3-1 Ryan Lane at Kalispell
City Airport also described on Exhibit A attached herein as follows:
AGREEMENT
In consideration of the mutual agreements herein contained, and for other goods
and valuable consideration, the parties hereby agree as follows:
1: The Lease is hereby Assigned as follows:
A: Interest and consideration in and to Hangar site lease to the
New Tenant (McElroy Holdings LLC) which shall be effective as of
February 29, 2008 (the Effective Date).
B: The Tenant (Tom Sands) does hereby grant, assign and
Transfer the Lease to the New Tenant. The New Tenant accepts
' this assignment of the lease and hereby assumes and agrees to
be bound by and perform all the conditions, obligations, duties and
liabilities required of the Tenant under Lease.
C. The City hereby consents to the Assignment of said Lease to
the New Tenant on the terms and conditions set forth in the
assignment. The City hereby releases Tenant from any further
duties, Obligations or liabilities.
2: The provisions of this agreement shall bind and inure to the benefit of
the successor and assigns of the parties hereto.
Signatures on Following Page
This Agreement has been entered into as of the Effective Date.
City:
By: ,.
C 1ZE7 r'- \k.A
Tenant:
T-Air LLC
By: Sands Family Living Trust dated 2/17/07, Agent
By: Thomas E. Sands, Trustee
New Tenami-
rauproy no ings
By: y�� / 1
As: � il4.