Laserfiche WebLink
5. TERMINATION FOR CONVENIENCE <br />Sec. 5.1. LESSOR may at its option terminate this lease as to the entire Premises, or any part <br />thereof, which may be necessary, in the event LESSOR desires to use the Premises, or any portion <br />thereof, for airport expansion, such as an extension of runways or taxiways or the development of <br />other airport facilities, ar if the property shall be utilized for other industrial or commercial <br />development. In the event of either of the above contingencies the City shall give LESSEE ninety <br />(90) days notice in writing of its intention to terminate the Lease and to utilize the Premises, or any <br />portion thereof, for the above specified purposes. In the event LESSOR terminates the Lease <br />Agreement as to the entire Premises, the unearned portion of that year's rental payment shall be <br />refunded to LESSEE. Should Lessor terminate the Lease Agreement only as to a portion of the <br />Leased Premises, that year's annual rental shall be reduced on a pro rata basis at the rate of $20.00 <br />per acre. <br />6. DEFAULTAND TERMINATION FOR CAUSE <br />Sec. 61. Should LESSEE fail to comply with any of the covenants, conditions, stipulations <br />and/or provisions of this Lease, LESSOR shall give LESSEE written notice of default and <br />LESSEE shall have thirty (30) days to correct the default ar LESSOR may terminate this Lease <br />Agreement. <br />7. RESERVATION OF AIR SPACE <br />Sec. 7.1. The Grantor, its successors and assigns hereby reserves for the use and benefit of the <br />public, a right of flight for the passage of aircraft in the airspace above the surface of the Premises <br />herein described. This public right of flight shall include the right to cause in said airspace any <br />noise inherent in the operation of aircraft, now known or hereafter used for navigation or flight <br />through the said airspace or landing at, taking off from or operation on the Cox Field Airport. <br />Page 3 of 10 <br />1 q d- <br />