Res 2009-120 - Laserfiche WebLink

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City of San Marcos Airport 2.05. The LESSEE shall provide access to the LESSOR, upon reasonable notice, to all business records necessary to verify the amount of fees and /or percentage rental due under this LEASE. If this LEASE commences or terminates on a day other than the First (1 day of a month, all monthly rents and fees payable by the LESSEE for the First (1 month under this LEASE shall be prorated accordingly. 2.06. The LESSOR agrees that the revenue derived from this LEASE will be allocated toward maintenance and improvement of the AIRPORT. This requirement is not mandatory, however, unless it is required by existing indenture or agreement with the United States government. 2.07. 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 sum became due and payable. 2.08. The term of this LEASE will commence on the date hereof. The term of this LEASE will expire on the 40 anniversary of the date the LESSEE receives a shell certificate of occupancy for the FACILITIES. Upon request of either party, the LESSOR and the LESSEE will execute an amendment to this LEASE confirming the expiration date of this LEASE. ARTICLE 3. USE AND CARE OF PREMISES 3.01. The use of the LEASED PREMISES by the LESSEE shall be restricted to aviation purposes, unless otherwise approved in writing by the LESSOR. Specifically, the LEASED PREMISES shall be used and occupied for the business of aviation related activities and business including but not limited to: aircraft and aircraft parts storage, aircraft maintenance, commercial office space, FAA Part 145 Aircraft repair station, FAA Part 135 Air Carrier (Charter) Service, Air Taxi Operations, Flight Training, FAA Part 141 approved flight schools, pilot's lounge, aircraft parts sales, aviation insurance sales, avionics businesses, aircraft management, aircraft interior and refurbishing shop, and other ancillary uses. The LEASED PREMISES may be used for no other purposes without the advance written consent of the LESSOR. 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 throughout the term of this LEASE. 3.02. 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. Commercial Land Lease Page 4 of 22