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Res 2023-141R Approving a 12,861 square foot ground lease with Julep Aviation
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Res 2023-141R Approving a 12,861 square foot ground lease with Julep Aviation
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9/19/2023 2:40:35 PM
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Approving
Number
2023-141
Date
9/5/2023
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and,having so commenced,thereafter prosecutes with diligence and completes the <br /> curing of such failure or breach within a reasonable time; or <br /> C. Certain Voluntary Acts. Lessee(i)files,or consents by answer or otherwise to the <br /> filing against it if,a petition for relief or reorganization or arrangement or any other <br /> petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, <br /> insolvency or other debtors'relief law of any jurisdiction,(ii)makes an assignment <br /> for the benefit of its creditors, or(iii) consents to the appointment of a custodian, <br /> receiver,trustee or other officer with similar powers of Lessee or of any substantial <br /> part of Lessee's property; or <br /> d. Receivership; Bankruptcy. Without consent by Lessee, a court or government <br /> authority enters an order,and such order is not vacated within thirty(30)days, (i) <br /> appointing a custodian, receiver,trustee or other officer with similar powers with <br /> respect to Lessee or with respect to any substantial part of Lessee's property, or <br /> (ii) constituting an order for relief or approving a petition for relief or <br /> reorganization or arrangement or any other petition in bankruptcy or for liquidation <br /> or to take advantage of any bankruptcy, insolvency or other debtors' relief law of <br /> any jurisdiction, or (iii) ordering the dissolution, winding up or liquidation of <br /> Lessee; or <br /> e. Vacation or Failure to Operate. Except in connection with construction,alteration, <br /> casualty,eminent domain,act of Lessor,the United States of America or the State <br /> of Texas which precludes occupation and use of the Leased Premises or Force <br /> Majeure,Lessee vacates or fails to use all or any substantial portion of the Leased <br /> Premises for one hundred(120)consecutive days; or <br /> f. Levy or Attachment. Except as permitted pursuant to a subordination, non- <br /> disturbance, and attornment agreement (SNDA) executed by Lessor, Lessee <br /> and Lessee's lender and/or any related loan documents,this Lease or any estate <br /> of Lessee hereunder is levied upon under any attachment or execution and such <br /> attachment or execution is not vacated within thirty(30)days. <br /> 15.02. Lessor Remedies. If an event of default occurs and the applicable cure period has <br /> expired, at any time after such occurrence and prior to the cure thereof, with or <br /> without additional notice or demand and without limiting Lessor's rights or <br /> remedies as a result of the event of default, Lessor may do the following: <br /> a. Terminate this Lease. Lessor may terminate this Lease on written notice to Lessee. <br /> In such event, Lessee shall immediately surrender the Leased Premises to Lessor <br /> and, if Lessee fails to do so, Lessor may enter and take possession of the Leased <br /> Premises and remove Lessee and any other person occupying the Leased Premises, <br /> using reasonable force if necessary, without prejudice to any other remedy it may <br /> have for possession or arrearages in Rent and, except as provided in Section <br /> 11.05.b., without being liable for any resulting damages. Lessee agrees to pay to <br /> Lessor the actual and reasonable amount of related costs and expenses incurred by <br /> Lessor, inclusive of reasonable attorney and court costs,within thirty(30)days of <br /> Lessor's request for payment, accompanied by evidence of such costs and <br /> expenses. If Lessor terminates this Lease, Lessee shall be deemed to have <br /> relinquished all right,title and interest in and to all Improvements, and such shall <br /> become the property of Lessor. <br /> 18 <br />
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