23-Construction of a hangar at Cox Field

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All leases shall have a five (5) year CPI clause. Vll. MAINTENANCE: GOOD CONDITION & REPAIR Requiring a tenant to maintain property and facilities in good condition and repair, while always important, becomes critical as end of long-term leases approaches. Securing title to leasehold improvements at the expiration of a lease is of little value to the City or Airport if the improvements are not representative of Airport standards or suitable for lease to a desirable tenant at rates meeting Airport expectations. Particular attention should be focused on major cost issues such as foundations, structural components of buildings, roofs, wall systems, hangar doors, electrical systems, etc. Sheet metal roofs and walls should be maintained to be free from leaks and significant damage and should be painted as necessary to prevent and retard rusting and to enhance appearance as original finishes deteriorate. Painting, carpeting, and other similar items are typical of maintenance and lease expenses expected of tenants. Good maintenance is an annual, on-going obligation. Any level of clutter, junky or unkempt appearance will not be tolerated. VIII. ENVIRONMENTAL CONDITIONOFLEASEHOLD Tenant shall conduct its operation and maintain the leasehold in such a manner as to be free of environmental contamination. lX. COMPLIANCE WITH CITY BUILDING CODE Construction of all private hangars shall be conducted in full conformance with the City's Building Code, including the payment of all building inspection fees or other fees associated with construction. All necessary plans required for review and approval of the project shall be timely submitted. Any and all provisions of the City's Building Code applicable to hangar structures shall be complied with in full. X. TIME FOR CONSTRUCTIDN All privately built hangars shall be constructed within eighteen (18) months of approval of a lease agreement. Failure to timely complete construction of the hangar shall be considered a breach of the lease agreement and subject the tenant to all customary remedies for such breach. XI. USE OF THE HANGAR The hangar shall be used in accordance with the City's established policy for airport purposes only and in conformance with the requirements of the City's master lease agreement. For all new lease agreements covered under this policy, no hangar shall be used as a residence or shall be used for residential purposes. However, such items as a sink, bathroom, or associated facility to allow temporary overnight stay or perhaps occasional social uses of a portion of the hangar, will be permitted. Cox Field Airport Page 3 Lease Policy f ~