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Res 2014-051/Sublease of Airport property between Caroline Aviation, LLC and Richard Moreno
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Res 2014-051/Sublease of Airport property between Caroline Aviation, LLC and Richard Moreno
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3/25/2015 9:58:48 AM
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4/22/2014 8:46:08 AM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2014-51
Date
4/15/2014
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or any other present or future federal or state insolvency, bankruptcy or similar <br />laws (all of the foregoing hereinafter collectively called `Applicable Bankruptcy <br />Law") or an involuntary petition for relief is filed against Sublessee under any <br />Applicable Bankruptcy Law and such involuntary petition is not dismissed within <br />sixty (60) days after the filing thereof, or an order for relief naming Sublessee is <br />entered under any Applicable Bankruptcy Law, or any composition, <br />rearrangement, extension, reorganization or other relief of debtors now or <br />hereafter existing is requested or consented to by Sublessee; (v) fails to have <br />discharged within a period of thirty (30) days any attachment, sequestration or <br />similar writ levied upon any property of Sublessee; or (vi) fails to pay within thirty <br />(30) days any final money judgment against Sublessee; <br />iv. the doing or permitting to be done by Sublessee of any act <br />which creates a mechanics' lien or claim against the Premises; or <br />V. the occurrence of any default under the Primary Lease. <br />B. Remedies. Upon the occurrence of an Event of Default, Sublessor, <br />in addition to any and all other rights and remedies available to Sublessor at law or in <br />equity and in addition to all other rights or remedies reserved herein, will have the option <br />to pursue any one or more of the following remedies without any notice or demand <br />whatsoever and without releasing Sublessee from any obligation under this Sublease <br />(except in the case of a termination of the Sublease): <br />i. Sublessor may enter the Premises without terminating this <br />Sublease and may perform any covenant or agreement or cure any condition <br />creating or giving rise to a default or Event of Default under this Sublease or <br />under the Primary Lease, and Sublessee agrees to pay to Sublessor on demand, <br />as Additional Rent, the amount expended by Sublessor in performing such <br />covenants or agreements or satisfying or observing such condition. Sublessor, <br />and Sublessor's agents, representatives and employees, will have the right to <br />enter the Premises in the exercise of such rights and such entry and such <br />performance will not terminate this Sublease or constitute an eviction of <br />Sublessee; or <br />ii. At Sublessor's sole option, Sublessor may terminate this <br />Sublease by written notice thereof to Sublessee or Sublessor may terminate <br />Sublessee's right of possession to the Premises, without terminating this <br />Sublease. In either such event, Sublessee must surrender (in accordance with <br />the terms and conditions of this Sublease) possession of and vacate the <br />Premises immediately and must deliver possession thereof to Sublessor, and <br />Sublessee hereby grants to Sublessor, to the extent permitted by applicable law, <br />full and free license to thereupon enter the Premises, in whole or in part, with or <br />without process of law, to change any and all door locks without notice of from <br />whom the new key may be obtained, to deny Sublessee access to the Premises <br />and to expel or remove Sublessee and any other person, firm or corporation who <br />may be occupying the Premises or any part thereof and remove any and all <br />8 <br />120599-12 <br />IM <br />
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