Res 2023-019/approving an airport facility redevelopment agreement for commercial use with US Aviation Group, LLC for the lease of airport

Home Browse Search

DocuSign Envelope ID:CFOA3C46-0329-49E2-B3D4-269B064BBEC1 f. Levy or Attachment. Except as permitted pursuant to a subordination, non- disturbance, and attornment agreement (SNDA) executed by Lessor, Lessee and Lessee's lender and/or any related loan documents, this Lease or any estate of Lessee hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty(30)days. 15.02 Lessor Remedies. If an event of default occurs and the applicable cure period has expired, at any time after such occurrence and prior to the cure thereof, with or without additional notice or demand and without limiting Lessor's rights or remedies as a result of the event of default, Lessor may do the following: a. Terminate this Lease. Lessor may terminate this Lease on written notice to Lessee. In such event, Lessee shall immediately surrender the Leased Premises to Lessor and, if Lessee fails to do so, Lessor may enter and take possession of the Leased Premises and remove Lessee and any other person occupying the Leased Premises, using reasonable force if necessary, without prejudice to any other remedy it may have for possession or arrearages in Rent and without being liable for any resulting damages. Lessee agrees to pay to Lessor the actual and reasonable amount of related costs and expenses incurred by Lessor,inclusive of reasonable attorney and court costs,within thirty(30)days of Lessor's request for payment, accompanied by evidence of such costs and expenses. If Lessor terminates this Lease, Lessee shall be deemed to have relinquished all right, title and interest in and to all Improvements (exclusive of Lessee's removable trade fixtures and equipment), and the same shall become the property of Lessor. b. Relet the Leased Premises and Receive the Rent. Lessor may terminate Lessee's right to possession of the Leased Premises and enjoyment of the rents,issues and profits there from without terminating this Lease or the estate created hereby. If Lessor retakes possession of the Leased Premises as provided herein,Lessor may lease,manage and operate the Leased Premises and collect the rents, issues and profits there from for the account of Lessee,and credit to the satisfaction of Lessee's obligations hereunder the net rental thus received,after deducting therefrom all reasonable, actual out-of-pocket third party costs and expenses of repossessing, leasing,managing and operating the Leased Premises. C. Enter and Perform. Lessor shall have the right, but not the obligation, to enter upon the Leased Premises and perform any obligation that Lessee has failed to perform. All reasonable and actual costs and expenses incurred by Lessor in performing such obligations of Lessee shall be deemed additional Rent payable by Lessee to Lessor. d. Other Remedies. Lessor may exercise any other right or remedy available to Lessor under this Lease or at law or in equity. e. Default by Lessor. Lessor shall be deemed to be in default of this Lease(herein,a"Lessor Default")if Lessor shall fail to keep,perform or observe any of the covenants,agreements, terms or provisions contained in this Lease that are to be kept or performed by Lessor and Lessor shall fail to cure such failure within thirty (30) days after delivery by Lessee to Lessor of written notice specifying the failure;provided, so long as the subject default did not occur due to Lessor's breach of an affirmative covenant herein (e.g., pursuant to Sections 1.0 1, 1.05, 1.06,7.01(a),9.02 and Article 8),if the failure is curable other than by the payment of money but cannot be cured within such thirty(30)day period,Lessor shall not be in default if Lessor commenced cure of the failure during such thirty(30)day period and thereafter diligently and continuously pursues the cure to its completion. -16-