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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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City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2023-141
Date
9/5/2023
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b. Relet the Leased Premises and Receive the Rent. Lessor may terminate Lessee's <br /> right to possession of the Leased Premises and enjoyment of the rents, issues and <br /> profits there from without terminating this Lease or the estate created hereby. If <br /> Lessor retakes possession of the Leased Premises as provided herein,Lessor may <br /> lease, manage and operate the Leased Premises and collect the rents, issues and <br /> profits there from for the account of Lessee, and credit to the satisfaction of <br /> Lessee's obligations hereunder the net rental thus received, after deducting <br /> therefrom all reasonable, actual out-of-pocket third party costs and expenses of <br /> repossessing, leasing, managing and operating the Leased Premises. <br /> C. Enter and Perform. Lessor shall have the right, but not the obligation, to enter <br /> upon the Leased Premises and perform any obligation that Lessee has failed to <br /> perform. All reasonable and actual costs and expenses incurred by Lessor in <br /> performing such obligations of Lessee shall be deemed additional Rent payable by <br /> Lessee to Lessor. <br /> d. Other Remedies. Lessor may exercise any other right or remedy available to <br /> Lessor under this Lease or at law or in equity. <br /> 15.03. Default by Lessor.Lessor shall be deemed to be in default of this Lease(herein, a"Lessor <br /> Default")if Lessor shall fail to keep,perform or observe any of the covenants,agreements, <br /> terms or provisions contained in this Lease that are to be kept or performed by Lessor and <br /> Lessor shall fail to cure such failure within thirty (30) days after delivery by Lessee to <br /> Lessor of written notice specifying the failure; provided, so long as the subject default did <br /> not occur due to Lessor's breach of an affirmative covenant herein (e.g., pursuant to <br /> Sections 1.0 1, 1.05, 1.06, 7.01(a), 9.02, and Article 8), if the failure is curable other than <br /> by the payment of money but cannot be cured within such thirty (30) day period, Lessor <br /> shall not be in default if Lessor commenced cure of the failure during such thirty(30)day <br /> period and thereafter diligently and continuously pursues the cure to its completion. <br /> 15.04. Lessee's Remedies.If a Lessor Default occurs,Lessee may at any time thereafter and prior <br /> to the cure thereof do any one or more of the following: <br /> a. Terminate this Lease. Lessee may terminate this Lease by giving Lessor written <br /> notice thereof, in which event this Lease and the leasehold estate hereby created <br /> and all interest of Lessee and all parties claiming by,through or under Lessee shall <br /> automatically terminate upon the effective date of such notice and, except for the <br /> obligations of the parties which survive closing and Lessee's rights under b.below <br /> (which shall survive termination), the parties shall have no further rights or <br /> obligations hereunder; or <br /> b. Other Remedies. Lessee may exercise any other right or remedy available to <br /> Lessee under this Lease or under Applicable Law, except as expressly limited by <br /> the terms of this Lease. <br /> ARTICLE 16: LESSOR'S LIEN <br /> 16.01. Subordination of Lessor's Lien. Upon written request from Lessee, Lessor agrees to <br /> reasonably subordinate its statutory and contractual landlord's liens on the Improvements <br /> or Lessee's personal property and trade fixtures to the lien of a lender providing financing <br /> to the Lessee,consistent with the terms of this Lease. <br /> 19 <br />
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