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DocuSign Envelope ID: 35EE2E27-4F45-474D-B557-0B0A649C19A6 <br />ARTICLE 13: LESSOR <br /> <br />13.01. The Lessee grants to the Lessor a valid first security interest upon all of the Lessee <br />chattels, furniture, trade fixtures, inventory and other property upon the Leased Premises to <br />secure all rents and other sums due or to become due to the Lessor. The Lessee expressly waives <br />all exemption laws in favor of this security interest; and it is agreed that this express security <br />interest shall be in addition to, and not as a waiver of or substitute for any statutory or other liens <br />of the Lessor. In connection with this security interest, it is agreed that in the event of a breach or <br />default by the Lessee, the Lessor may exercise all rights and remedies provided to a secured party <br />after default under the Uniform C <br />with respect to all such property, including, without limitation, the right to take and retain <br />possession of the property and to sell it at public or private sale, or to use it in any other manner <br />authorized or provided in the UCC. Upon request by the Lessor, the Lessee agrees to execute and <br />deliver UCC Financing Statements to the Lessor from time to time as the Lessor deems necessary <br />to perfect the Lessorceeds thereof under the provisions <br />of the UCC. <br /> <br /> <br />ARTICLE 14: LESSEEHOLD INTEREST <br /> <br />14.01. The Lessor grants permission to the Lessee for the mortgaging of the Lessee <br />in the Leased Premises for the sole purpose of obtaining funding for permanent improvements to <br />the Leased Premises. The Lessee will provide written notification to the Lessor of each such <br />mortgage within ten (10) days after it is executed. The Lessor agrees that any lien in its favor <br />arising under this Lease as to the Leased Premises will be subordinate to the lien of the mortgagee <br />under each such mortgage. This clause is self-operative and no further instrument of <br />subordination need be required by any mortgagee of the Lessee. The mortgaging by the Lessee <br />of its leasehold interest for any other purpose, however, shall require the advance written <br />In no event, however, shall any lien be asserted or foreclosed against <br />approval of the Lessor. <br />the underlying fee simple interest of Lessor in the Leased Premises. <br /> <br /> <br />ARTICLE 15: OPERATION OF THE AIRPORT AND LESSORLEASED <br />PREMISES <br /> <br />15.01 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 />"Limitation" <br />operations on the Leased Premises () for a period of less than seven (7) calendar <br />days, this Lease shall continue in full force and effect. If the Limitation lasts more than seven (7) <br />calendar days, Lessee and Lessor shall negotiate in good faith to resolve or mitigate the effect of <br />1216 <br />Page of <br /> <br /> <br />