Res 2017-058/approving a 19-month Airport Facility Lease Agreement with Coast Flight Management and Training, Inc

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2.10. If the Lessee fails to pay any rent or any other sum payable to the Lessor under the terms of this Lease when due,then interest at the maximum legal rate in the State of Texas shall accrue from the date on which the maximum late charges described in section 2.05 have been incurred. 2.11. Lessee shall make available to City or Airport Management within ten business days of any such request such books and records necessary, as determined by the City, to verify amounts payable under this Article. ARTICLE 3: ADJUSTMENT IN RENT, CHARGES, AND FEES OR OTHER TERMS TO THIS AGREEMENT 3.01. Except as otherwise provided for herein, during the Primary Term no change in any term or condition of this Agreement will be effective, unless Lessor and Lessee each sign and deliver a written instrument evidencing the change. Following the Expiration Date of the Primary Term, Lessor may in its sole discretion make changes to this Agreement (including, without limitation, changes regarding the amount of rent)without Lessee's consent or agreement; provided, however, that such changes shall not be effective until the first day of the month next following the expiration of thirty(30)days after the date Lessor gives notice of such changes to Lessee. ARTICLE 4: USE AND CARE OF PREMISES 4.01. During the terms of this Lease or any renewal thereof, the Premises are to be used by Lessee exclusively for aviation activities. Specifically,the Leased Premises shall be used and occupied for the business of aviation related activities and business including but not limited to: storage of flight school aircraft and preventative maintenance. The Lessee shall use the Leased Premises in good faith continuously for this purpose throughout the term of this Lease. The Lessee will use good faith efforts to ensure that the Leased Premises are occupied through the term of this Lease. The Leased Premises may not be used for any other purpose without the prior written consent of Lessor. Any commercial use of the Leased Premises not expressly authorized under the terms of this Lease shall be negotiated under separate contract with Lessor. Lessee shall not at any time leave the Leased Premises vacant,but shall in good faith continuously,throughout the term of this Lease,conduct on the Leased Premises the type of business described. 4.02. The Lessee shall not place or keep anything on the Leased Premises or use the Leased Premises for any purpose which invalidates any insurance policy carried on the Leased Premises without the Lessor's prior written consent. The Lessee agrees that the risk of loss and damage for all property kept, stored or maintained by it within the Leased Premises shall be the Lessee's. 4.03. The Lessee shall not use or permit the use of the Leased Premises in any manner which results in waste of the Leased Premises, or constitutes a nuisance, or violates any statute, ordinance, rule or regulation that applies to the Leased Premises. Page 4 of 17