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Res 2017-040/approving the terms and conditions of a shared hangar lease agreement for use at the San Marcos Regional Airport
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Res 2017-040/approving the terms and conditions of a shared hangar lease agreement for use at the San Marcos Regional Airport
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5/17/2018 10:04:47 AM
Creation date
3/31/2017 12:34:53 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2017-40
Date
3/7/2017
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<br /> <br />in any calendar year, and after such two notices, Lessor will no longer be obligated to <br />give any other notice under this Section within such calendar year). <br /> <br /> <br />b. <br />The Lessee fails to comply with any other term, provision, or covenant of this <br />Agreement, and does not cure the failure within thirty (30) days after written notice to <br />thirty (30) days, Lessee shall be allowed additional time (not to exceed sixty (60) days) <br />as is reasonably necessary to cure the failure so long as Lessee commences to cure the <br />failure within fifteen (15) days and Lessee diligently pursues a course of action that <br />will cure the failure. For any subsequent default by the Lessee for the same or any <br />other reason, the Lessor may terminate the Agreement if that subsequent default <br />continues for more than three (3) days after notice of the subsequent default. <br /> <br /> <br />c. <br />The Lessee becomes insolvent, makes a transfer in fraud of creditors, or makes an <br />assignment for the benefit of creditors. <br /> <br /> <br />d. <br />The Lessee commences, or another party commences against the Lessee, proceedings <br />in bankruptcy, for reorganization, or for the readjustment or arrangement of its debts <br />under the bankruptcy laws of the United States or under any other law. <br /> <br /> <br />e. <br />A receiver or trustee is appointed for all or substantially all of the assets of the Lessee. <br /> <br /> <br />f. <br />120 consecutive days. <br /> <br />The acceptance by the Lessor after the occurrence of any <br />event of default shall in no way constitute a waiver by the Lessor of its right to exercise any <br />remedy provided for any event of default. <br /> <br />Termination of Agreement. Any breach, default or failure by Lessee to keep and/or perform <br />faithfully any of the terms of this Agreement shall be cause for Lessor to terminate this <br />Agreement immediately. In this event, Lessor or Airport Management shall deliver to Lessee <br />a written notice of termination which will include a reasonable description of the breach or <br />default justifying the termination. <br /> <br />If it becomes necessary for the Lessor or Airport Management to employ an attorney to <br />enforce or defend any of the Lessor rights or remedies because <br />of any breach or default by the Lessee under this Agreement, the Lessee agrees to pay all <br />Lessor and Airport Management, within thirty (30) <br />days of the Lessorfor the fees to the Lessee. <br /> <br />Governing Law: <br />17. Should any action, whether real or asserted, at law or in equity, arise out of <br />the terms of this Agreement or by Lessee <br />56 <br />Page of <br /> <br /> <br />
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