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12-F Cox Field Lease Policy
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October 04, 2001
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12-F Cox Field Lease Policy
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Last modified
11/8/2005 11:22:24 AM
Creation date
10/1/2001 9:43:12 PM
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AGENDA
Item Number
12-F
AGENDA - Type
RESOLUTION
Description
Lease Policy and Master Lease
AGENDA - Date
10/4/2001
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shall not bar the right of LESSOR to subsequently terminate this Lease for any of the reasons set out <br />above. Further, the acceptance of rents, fees, or other payments due and owing to LESSOR for any <br />period after a default of any of the terms, covenants, or conditions by LES SEE shall not be deemed <br />a waiver of any right on the part of LESSOR to terminate this Lease. <br /> <br /> 35. That the LES SOR has the right to temporarily close the Airport or any of the facilities <br />thereon for maintenance, improvements, or for the safety of the public. <br /> <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. In <br />the event of the above determination, the LESSOR shall give the LESSEE ninety (90) days notice, <br />in writing, of its intention to so utilize the building, or any portion thereof, for such purposes. In the <br />event this option is exercised by the LESSOR, LESSEE shall be paid, as LESSEE's sole <br />consideration, the fair market value of improvements previously made by LESSEE to the leased <br />premises and authorized by LESSOR, said fair market value to be determined as of the time the <br />LESSOR exercises the right of termination as provided in this paragraph. In no event shall LESSOR <br />be liable for a claim of lost profits, lost benefit, or other similar claims as a result of termination under <br />this paragraph. <br /> <br /> 37. That, during time of war or national emergency, LES S OR shall have the right to lease <br />the landing areas or any part thereof to the United States Government for military or naval use, and, <br />if such lease is executed, the provisions of this instrument, insofar as they are inconsistent with the <br />provisions of the lease to the Government, shall be suspended. <br /> <br />Master Lease Agreement - page 23 <br /> <br /> <br />
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