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per day late charge will be assessed. In addition, Lessee shall reimburse Lessor for each <br /> check that is returned or not honored. <br /> 2.06. No Release. Except as expressly provided herein or in any written consent of Lessor, <br /> Lessee is obligated to the terms and conditions of this Lease, including the payment of <br /> Rent for the entire Term,subject to earlier termination (except due to an uncured event <br /> of default by Lessee) or renewal, as provided herein. <br /> 2.07. Holdover. In the event Lessee holds over after the expiration of this Lease,such hold over <br /> status will create a month-to-month tenancy. In such event,Lessee agrees to pay a monthly <br /> holdover rate in the amount of 150% of the Rent in effect on the date the Lease is <br /> terminated.Holdover tenancy will be subject to all other terms and conditions of this Lease. <br /> 2.08. Other Fees and Charges. Provided all other tenants and users at the Airport are required to <br /> pay for tie-down and other public Airport Facilities(as defined below)use,Lessee agrees <br /> to pay for such use, in addition to Rent, in an amount equal to the lowest amount Lessor <br /> charges similar tenants and users at the Airport for use(and in no event shall Lessor charge <br /> Lessee for use unless all other tenants at the Airport are also required to, and do, pay for <br /> such use). New charges for Airport Facilities (including, without limitation, tie-down <br /> fees), if any, will be established by resolution hereafter adopted by Lessor. <br /> ARTICLE 3: USE AND CARE OF PREMISES <br /> 3.01. Authorized Use: During the Term and any renewal thereof, the Leased Premises may be <br /> used and occupied by Lessee for the following, and for no other purpose: aircraft hangar, <br /> commercial and general aviation aircraft storage, flight department, lounge facilities; and <br /> all other uses ancillary to any of the foregoing (including, without limitation, temporary <br /> vehicular parking coincident to aviation usage(herein,the"Authorized Use"). In addition <br /> to the Authorized Use,with the express consent of Airport Management(as defined below), <br /> Lessee may conduct other activities on the Leased Premises reasonably related to the <br /> Authorized Use. The Leased Premises may not be used for any other purpose without the <br /> prior written consent of Lessor, which. consent shall not be unreasonably withheld, <br /> conditioned,or delayed, <br /> 3.02. Conduct of Business. Except as provided in Section 15.01.f.,Lessee shall not fail to occupy <br /> and use the Leased Premises for Authorized Use and,subject to Applicable Laws,shall not <br /> fail to maintain and operate the Leased Premises in accordance with the applicable <br /> provisions of the Airport's Minimum Standards. <br /> 3.03. No Unlawful Use. Lessee covenants and agrees that it shall not make any unlawful use of, <br /> nor shall it permit the unlawful use of,the Leased Premises by any person(s)and that such <br /> unlawful use shall result in the removal from the Leased Premises by Lessor of any <br /> person(s)using the same. Lessee's unlawful use of the Leased Premises shall constitute a <br /> breach of this Lease. <br /> 3.04. No Insurance Invalidation• Risk of Lessee. Lessee shall not place or keep anything on the <br /> Leased Premises or conduct any unauthorized use of the Leased Premises which invalidates <br /> any insurance policy carried on the Leased Premises without Lessor's prior written consent. <br /> Lessee agrees that the risk of loss and damage for property kept,stored or maintained by it <br /> within the Leased Premises is that of Lessee. <br /> 3 <br />