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Res 2016-135/approving a five year Airport Facility Lease Agreement with Ann K. and William H. McIntosh for the hangar located at 1741 Airport Drive
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Res 2016-135/approving a five year Airport Facility Lease Agreement with Ann K. and William H. McIntosh for the hangar located at 1741 Airport Drive
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2016-135
Date
10/3/2016
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compliance with the Lessee's obligations under this Lease, within thirty (30) days of the <br />Lessor's issuance of a statement for the expenses to the Lessee. The Lessor and its officers, <br />agents and employees shall not be liable for any damages or iâ–ºjiuries that result to the Lessee <br />from any action taken tinder this paragraph, whether caused by the negligence of the Lessor or <br />otherwise. <br />12.04. The Lessor's Pursuit of any of these remedies will not preclude pursuit of any other rcmedies <br />provided under this Lease or by law, nor will pursuit of any remedy constitute a waiver of any rent <br />due to the Lessor or of any damages caused to the lessor by any violation of this lease by the Lessee. <br />Any failure by the Lessor to enforce a remedy upon an event of default shall not be deemed to <br />constitute a waiver of the default or of the Lessor's right to insist on strict compliance with this <br />Lease. <br />12.05. If it becomes necessary for the Lessor to employ an attorney to enforce or defend any of the Lessor's <br />rights or remedies because of any breach or default by the Lessee tinder this Lease, the Lessee <br />agrees to pay all reasonable attorney's fees incurred by the Lessor, within thirty (30) days of the <br />Lessor's issuance of statement for the fees to the Lessee. <br />ARTICLE 13: LESSEE'S MORTGAGE OF LEASEHOLD INTEREST <br />13.01, The Lessor grants permission to the Lessee for the mortgaging of the Lessee's leaschold interest in <br />the Leased Premises for the sole purpose of obtaining funding for permanent improvements to the <br />Leased Premises. The Lessee will provide written notification to the Lessor of each such mortgage <br />within Ten (10) days after it is executed. The Lessor agrees that any lien in its favor arising tinder <br />this Lease as to the .Leased Premises will be subordinate to the lien of the mortgagee under each <br />such mortgage. This clause is self -operative and no further instrument of subordination need be <br />required by any mortgagee of the Lessee. The mortgaging by the Lessee of its leasehold interest <br />for any other purpose, however, shall require the advance written approval of the Lessor. In no <br />event, however, shall any lien he asserted against the underlying fee simple interest of Lessor <br />in the Leased Premises. <br />ARTICLE 14: OPERATION OF THE AIRPORT AND LESSOR'S ACCESS TO LEASED <br />PREMISES <br />14.01 This Lease, and any interest granted to any lender or other third party by Lessee, shall be <br />subordinate to the provisions of any existing or future agreement between Lessor and the United <br />States Government or the State of Texas, which relates to the operation or maintenance of the <br />Airport and is required as a condition for the expenditure of federal funds for the development, <br />maintenance or repair of Airport infrastructure. In the event that any such existing or future <br />agreement directly causes a material restriction, impairment or interference with Lessee's primary <br />operations on the Leased Premises ("Limitation") for a period of less than seven (7) calendar days, <br />this Lease shall continue in frill force and effect. If the Limitation lasts more than seven (7) calendar <br />Page 13 of 18 <br />
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