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23-Construction of a hangar at Cox Field
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23-Construction of a hangar at Cox Field
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Last modified
8/23/2012 8:20:14 AM
Creation date
6/19/2009 6:53:37 PM
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AGENDA
Item Number
23
AGENDA - Type
AGENDA
Description
Private Hanger Lease
AGENDA - Date
6/22/2009
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premises occupied by the LESSEE under this Lease. Upon the termination of this Lease for any <br />reason, LESSEE shall yield up said leased premises, facilities, fixtures, and equipment to LESSOR <br />in the same condition as when received, reasonable and ordinary wear and tear and damage by the <br />elements excepted. <br />In the event of the failure on the part of the LESSEE upon the termination of this Lease to <br />immediately remove from the leased premises all property owned by it, LESSOR may effect such <br />removal and store such property at LESSEE's expense. LESSEE further covenants and agrees to <br />pay and discharge all reasonable costs, attorney's fees, and expenses that may be incurred by <br />LESSOR in enforcing the covenants, conditions, and agreements of this Lease, re-entering and/or <br />repossessing the leased premises, restoring the leased premises to good and proper repair/order, <br />protecting the leased premises, and obtaining a new tenant. The failure of LESSOR to declare <br />this Lease terminated for any of the reasons set out above shall not bar the right of LESSOR to <br />subsequently terminate this Lease for any of the reasons set out above. Further, the acceptance of <br />rents, fees, or other payments due and owing to LESSOR for any period after a default of any of <br />the terms, covenants, or conditions by LESSEE shall not be deemed a waiver of any right on the <br />part of LESSOR to terminate this Lease. <br />35. That the LESSOR has the right to temporarily close the Airport or any of the <br />facilities thereon for maintenance, improvements, or for the safety of the public. <br />36. That the LESSOR may, at its option, terminate this Lease as to the land or the entire <br />hangar building, or any parts thereof, which may be necessary in the event the LESSOR desires to <br />use the property, or any portion thereof, for necessary municipal functions as determined by <br />LESSOR, such as, but not limited to, extension of runways or erection of other Airport facilities. <br />In the event of the above determination, the LESSOR shall give the LESSEE ninety (90) days <br />notice, in writing, of its intention to so utilize the building, or any portion thereof, for such <br />purposes. In the event this option is exercised by the LESSOR, LESSEE shall be paid, as <br />LESSEE's sole consideration, the fair market value of improvements previously made by LESSEE <br />to the leased premises and authorized by LESSOR, said fair market value to be determined as of <br />the time the LESSOR exercises the right of termination as provided in this paragraph. In no event <br />shall LESSOR be liable for a claim of lost profits, lost benefit, or other similar claims as a result of <br />termination under this paragraph. <br />HanEar Lease Agreement - page 18 <br />ui~~:l~y <br />
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