Common Contracts
1 similar Lease Transfer Agreement contracts
Memorandum 20-139Lease Transfer Agreement • September 11th, 2020
This lease was last transferred via Resolution 19-001 from Homer Enterprises LLC to AKSnowGrl Rentals LLC/Ms. Kumfer as part of a sale of the Sport Shed business. AKSnowGrl Rentals LLC acquired the business using owner financing at the time of sale; this agreement was made through a promissory note signed between the two parties. On July 10, 2020 Ms. Kumfer/AKSnowGrl made a request to relinquish all leasehold interests so that the business could go back to Mr. Ashment of Homer Enterprises LLC. In a letter dated July 13, 2020, Mr. Ashment’s attorney further explained that “ Unfortunately Ms. [Kumfer] was not able to profitably operate the business. Mr. Ashment has been forced to exercise his rights as a secured creditor to take back possession of the business.” Both parties are requesting a lease transfer of the City land lease for the Sport Shed from AKSnowGrl/Kumfer back to Homer Enterprises/ Ashment.
