News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
The Upper Cumberland Regional Airport Board approved amendments to a lease agreement with country singer Aaron Tippin Tuesday.
Airport Manager Dean Selby said the amendments added ‘lawyer speak’ clarifying the lease in the event the agreement was terminated.
“No reimbursement will be made for early termination unless such termination originates from the Board through no fault of or breach by the lessee (Tippin), and shall be limited to the remainder of the prepayment amount as specified,” Selby said. “So if you kick him out with 10 years left, he gets that 10 years back, and it’s not because he did something wrong or he violated the lease.”
Tippin announced earlier this year he would put $88,000 towards opening a Warbird restoration business at the airport.
Selby said the agreement also covers hypothetical airport expansion projects that would impact Tippin’s business.
“There’s a provision in the lease that if we all of a sudden need that for a runway or whatever, and the Board says ‘We’re going to move that hangar, we’re going to pay to move it, and we’re going to move it over here,'” Selby said, “If he’s doing that and it takes two years to move it and we kick him out for two years, he wants that two years added to the end of his lease while we’re doing the work. Personally, I don’t see how that’s unreasonable but that’s just a good clarification.”
The agreement also provides Tippin the option for a lease buyout in the event of a fire.
