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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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property therefrom, using such lawful force as may be necessary. Upon either <br />Sublessor's termination of this Sublease or termination of Sublessee's right of <br />possession to the Premises without terminating this Sublease, as provided <br />herein, Sublessor will in either such event be entitled to recovery from Sublessee <br />of all damages to which Sublessor may be entitled hereunder or at law by virtue <br />thereof, including (without limitation) all costs and losses incurred by Sublessor <br />as a result of the Event of Default by Sublessee hereunder and any expenses <br />which Sublessor may incur in effecting compliance with Sublessee's obligations <br />under this Sublease, all of which sums Sublessee agrees to reimburse to <br />Sublessor on demand. <br />C. No Termination or Waiver. Institution of a forcible detainer action to <br />re -enter the Premises will not be construed to be an election by Sublessor to terminate <br />this Sublease. Sublessor may collect and receive any Rent due from Sublessee and the <br />payment thereof will not constitute a waiver of or affect any notice or demand given, suit <br />instituted, or judgment obtained by Sublessor, or be held or deemed to waive or alter <br />the rights or remedies which Sublessor may have at law or in equity or by virtue of this <br />Sublease at the time of such payment. <br />D. Remedies Non - exclusive. All rights and remedies of Sublessor <br />enumerated in this Sublease are cumulative and will not exclude any other right or <br />remedy allowed by law. All such rights and remedies may be exercised and enforced <br />concurrently, whenever and as often as necessary. <br />E. Sublessor's Contractual Security Interest and Lien. Sublessor will <br />have a lien upon, and Sublessee hereby grants to Sublessor a security interest in, all <br />personal property, furniture and equipment of Sublessee located in the Premises, as <br />security for the payment of all Rent and the performance of all other obligations of <br />Sublessee required by this Sublease. At any time after an Event of Default by <br />Sublessee occurs hereunder, Sublessor may seize and take possession of any and all <br />such personal property and equipment in accordance with applicable law, and <br />Sublessor will have the right, after twenty (20) days' written notice to Sublessee, to sell <br />such personal property and equipment so seized at public or private sale and upon such <br />terms and conditions as to Sublessor may appear advantageous. After the payment of <br />all charges incident to such sale, the proceeds of such sale will be applied to the <br />payment of any and all amounts due to Sublessor pursuant to this Sublease. In the <br />event there is any surplus remaining after the payment of all amounts due to Sublessor, <br />such surplus will be held by Sublessor and applied in payment of future Rent as it <br />becomes due and any surplus remaining after payment of all such Rent will be paid <br />over to Sublessee. In its exercise of rights pursuant to this Section, Sublessor will have <br />all of the rights and remedies of a secured party under the Uniform Commercial Code or <br />other equivalent and applicable laws of the jurisdiction in which the Premises are <br />located which relate to the grant and perfection of security interests of the nature <br />granted pursuant to this Section. Sublessee hereby authorizes Sublessor to file one or <br />more financing statements or equivalent or similar applicable instrument in form <br />sufficient under applicable law to perfect the security interest of Sublessor in the <br />aforementioned personal property, furniture and equipment and all proceeds thereof. <br />E <br />12059922.2 <br />K <br />
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