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06-B Knox Ground Lease
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06-B Knox Ground Lease
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Last modified
11/17/2005 11:15:07 AM
Creation date
6/24/2005 12:36:40 PM
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AGENDA
Item Number
06-B Knox Lease
AGENDA - Type
RESOLUTION
Description
Knox Ground Lease - Cox Field Airport
AGENDA - Date
6/27/2005
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<br />a waiver of any right on the part of LESSOR to terminate this Lease. <br /> <br />35. <br /> <br />That the LESSOR has the right to temporarily close the Airport or any of the facilities <br /> <br />thereon for maintenance, improvements, or for the safety of the public. <br /> <br />36. <br /> <br />That the LESSOR may, at its option, terminate this Lease as to the land or the entire <br /> <br />hangar building, or any parts thereof, which may be necessary in the event the LESSOR desires to <br /> <br />use the property, or any portion thereof, for necessary municipal functions as determined by <br /> <br />LESSOR, such as, but not limited to, extension of runways or erection of other Airport facilities. <br /> <br />In the event of the above determination, the LESSOR shall give the LESSEE ninety (90) days notice, <br /> <br />in writing, of its intention to so utilize the building, or any portion thereof, for such purposes. In the <br /> <br />event this option is exercised by the LESSOR, LESSEE shall be paid, as LESSEE's sole <br /> <br />consideration, the fair market value of improvements previously made by LESSEE to the leased <br /> <br />premises and authorized by LESSOR, said fair market value to be determined as of the time the <br /> <br />LESSOR exercises the right of termination as provided in this paragraph. In no event shall LESSOR <br /> <br />be liable for a claim of lost profits, lost benefit, or other similar claims as a result of termination <br /> <br />under this paragraph. <br /> <br />37. <br /> <br />That, during time of war or national emergency, LES SO R shall have the right to lease <br /> <br />the landing areas or any part thereof to the United States Government for military or naval use, and, <br /> <br />if such lease is executed, the provisions of this instrument, insofar as they are inconsistent with the <br /> <br />provisions of the lease to the Government, shall be suspended. <br /> <br />38. <br /> <br />That the waiver by LESSOR of any breach by LESSEE of the terms, covenants, <br /> <br />conditions, or provisions of this Lease shall not be deemed to be a waiver of any other breach of the <br /> <br />same or other term, covenant, condition, or provision of this Lease, regardless of when the breach <br /> <br />has occurred. <br /> <br />Ground Lease Ae:reement - page 23 <br /> <br />TO <br />
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