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1440 RES CITY COUNCIL IS INTERESTED IN COOPERATING WITH INDUSTRIAL DEVELOPMENT COMMITTEE
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1440 RES CITY COUNCIL IS INTERESTED IN COOPERATING WITH INDUSTRIAL DEVELOPMENT COMMITTEE
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11/28/2017 9:46:08 AM
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CITY CLERK
CITY CLERK - Date
8/9/1971
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further understood that Lessee will abide by all rules, regulati ons and <br />laws pertaining to the use of the airport located at Cox Air r ield, <br />particularly all rules, regulations and instructions of I'ederal Aviation <br />Administration pertaining to the use and operation of such airport, the <br />sanie as if made a part hereof, and will not erect or permit to be erected, <br />any structure of any kind which will interfere with the use of such airport <br />in any way. <br />13. In consideration of Lessee's full and punctual payment <br />of the rent reserved, Lessor gives and grants to Lessee options to renew <br />the leases on Tracts i, 2 and 3 for an additional term of ten years at the <br />expiration of the primary term, and an option to renew the leases on <br />Tracts 1, 2 and 3 an additional term of ten years at the expiration of the <br />first ten year period, and an option to renew the leases on Tracts 1, 2 <br />and 3 for an additional period of five years at the expiration of the second <br />ten year period, on condition that Lessee gives Lessor actual written <br />notice at least 60 days prior to the expiration of the primary term and at <br />least 60 days prior to the expiration of any extension ti-ie reof of its intention <br />to exercise such option and on condition Lessee is not in default in the <br />payment of the rent hereiri provided for, or in the discharge of any other <br />obligation imposed on it by this lease, each option period to be for the <br />same rental amounts and upon the same terms and conditions as the <br />primary term. It is expressly understood that Lessee may exercise <br />its options on tracts 2 and 3 only in the event it renews and extends its <br />option on Tract i and maintains a mar,ufaci uring facility on Tract 1 durin; <br />said extended period as provided for in the primary term. <br />14. The Lessor shall be liable for and promptly pay all <br />
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