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Res 2018-107/Amended and Restated Revised Lease of Unimproved Property for Construction and Operation of Business Facilities with Berry Aviation, Inc. for an aircraft hangar and tract of land at the San Marcos Regional Airport
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Res 2018-107/Amended and Restated Revised Lease of Unimproved Property for Construction and Operation of Business Facilities with Berry Aviation, Inc. for an aircraft hangar and tract of land at the San Marcos Regional Airport
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12/27/2018 8:37:19 AM
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6/28/2018 4:05:39 PM
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Airport
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2018-107
Date
6/19/2018
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personal property and trade fixtures to the lien of a lender providing financing to the Lessee, <br />consistent with the terms of this Lease. <br />ARTICLE 17: LESSEE’S MORTGAGE OFLEASEHOLD INTEREST <br />17.01 <br />Mortgage of Leasehold Estate.Lessor grants permission to Lessee for the mortgaging of <br />Lessee’s leasehold interest in the Leased Premises for the sole purpose of obtaining funding for <br />permanent improvements to the Leased Premises. Lessee will provide written notification to <br />Lessor of each such mortgage within ten (10) days after it is executed. Lessor agrees that any lien <br />in its favor arising under this Lease as to the Leased Premises will be subordinate to the lien of <br />the mortgagee under each such mortgage. This clause is self-operative and no further instrument <br />of subordination need be required by any mortgagee of Lessee. The mortgaging by Lessee of its <br />leasehold interest for any other purpose, however, shall require the advance written approval of <br />Lessor. In no event, however, shall any lien be asserted against the underlying fee simple <br />interest of Lessor in the Leased Premises. <br />ARTICLE 18: MISCELLANEOUS <br />18.01 <br />Gender Neutral. When the singular number is used in this Lease, it will include the plural when <br />appropriate, and the neuter gender will include the feminine and masculine genders when <br />appropriate. <br />18.02 <br />Severability. If any clause or provision of this Lease is illegal, invalid or unenforceable under <br />present or future laws, this Lease will remain in effect, and the remaining provisions will continue <br />in force if they can be given effect without the invalid portion. <br />18.03 <br />Amendment. This Lease may be amended only by an instrument in writing signed by both <br />parties. This Lease shall apply to and be binding upon the parties and their permitted successors <br />in interest and legal representatives. <br />18.04 <br />Headings. The captions used in this Lease are for convenience only and do not in any way limit <br />or amplify the terms and provisions of this Lease. <br />18.05 <br />Nonwaiver of Rights. No waiver of default by either party of any terms, covenants and <br />conditions hereof to be performed, kept and observed by the other party shall be construed as, or <br />shall operate as, a waiver of any subsequent default of any of the terms, covenants or conditions <br />herein contained, to be performed, kept and observed by the other party. <br />18.06 <br />Force Majeure. Whenever a period of time is prescribed for action to be taken by Lessor or <br />Lessee, any delays due to strikes, riots, acts of God, shortages of labor or materials, war, <br />governmental laws, regulations or restrictions or any other causes beyond the reasonable control <br />of Lessor or Lessee (herein, “force majeure”) shall be excluded from the computation of any <br />such period of time. <br />18.07 <br />Quiet Enjoyment. Lessor represents and warrants that it has the lawful authority to enter into this <br />Lease and has title to the Leased Premises. Lessor further covenants that Lessee shall have and <br />enjoy undisturbed possession of the Leased Premises as long as Lessee performs its obligations <br />under this Lease. This Lease is subject, however, to the rights of the United States of America <br />during periods of national emergency and its right to take all or a portion of the Airport for <br />federal activities, as provided herein. <br />19 <br /> <br />
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