Laserfiche WebLink
3. Should LESSEE fail to make payments in a timely manner, a late penalty of 10% shall be <br />'f #' on the tenth calendar day after the due date. Should payments remain past due <br />for more than thirty (30) days, AGREEMENT is in default and may be terminate& as provided <br />herein below. 0 <br />4. In order to encourage development of the Airport by providing sufficient time for investors to <br />amortize their investments, the term of this AGREEMENT shall be forty (40) years. This lease may <br />be extended by Lessee for an additional five (5) year period, provided all requirements of this <br />aeleement have been met: Lessee owes no taxes fees. or.,-Denalties to the CitV of <br />makes known its desire to extend the lease no later than six months before expiration of the <br />AGREEMENT. <br />5. LESSEE shall have the right at anytime and from time to time during the term of this lease," <br />-L.rect, <br />the leased premises, and correct and change the contour of the leased premises as necessary. <br />,f,. The full expense of any such construction, reconstruction, demolition, or any change, alteration <br />*r improvements shall be borne and paid by LESSEE. <br />7. A'o new structure or other improvement, nor any material addition to, or alteration of, any <br />building or structure shall be commenced unless and until plans, specifications, and proposed <br />location(s) have been submitted to and approved by LESSOR. Said plans and specifications shall be <br />prepared by LESSEE, at its own expense, at least thirty (30) days prior to the planned <br />commencement of such project. <br />8. LESSOR shall, in a timely manner, review and approve the plans or note in writing any required <br />chanues or corrections that must be made to 6&Dla-vs. <br />thirty (30) days shall constitute LESSOR's approval of the changes. <br />