Res 2005-107 - Laserfiche WebLink

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of each month for the succeeding month. The Lessee, attheiroption, may make advance payments of up to one yearOs rentals, but there will be no discount for these payments. 2.03. The City 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. 2.04. If the Lessee fails to pay any rent or any other sum payable to the City 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. 2.05. The term of this Lease will commence on September 1 , 2005 and will extend for a period of 20 years. The Lessee will have the right of first refusal for continuing occupancy under a revised lease at the expiration of this term if the Lessee is not in default under the terms of this Lease at the time of expiration. The terms of the revised lease will be similar to those offered by the City for similar improved property at the Airport at that time. Article 3. Use and Care of Premises 3.01. The use of the Leased Premises by the Lessee shall be restricted to non-commercial aviation purposes, unless otherwise approved in writing by the City. Specifically, the Leased Premises shall be used and occupied for the purpose of aircraft storage and for no other purposes without the advance written consent of the City. The Lessee shall use the Leased Premises in good faith continuously for these purposes 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 increases the insurance premium cost or invalidates any insurance policy carried on the Leased Premises, without the City's advance 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. 3.03. The Lessee shall not use or permit the use of the Leased Premises in any manner that results in waste of the Leased Premises, or constitutes a nuisance, or violates any statute, ordinance, rule or regulation that applies to the Leased Premises. 3.04. The Lessee shall keep the Leased Premises, including ramps, signs, sidewalks, serviceways, and loading areas adjacent to the Leased Premises, neat, clean, and free from dirt and trash at all times. The Lessee shall provide containers for all trash on the Leased Premises, and shall arrange for the regular removal of the trash at the Lessee's expense. 3.05. The Lessee shall store all equipment, materials and supplies within the building located on the Leased Premises. Outside storage is specifically prohibited without the advance written consent of the City. 3.06. The City agrees that the Lessee shall have access to the runways, taxiways and ramps at the Airport to the same extent as other Airport users. The City's failure to continue the use of the Airport for airport and aviation purposes shall constitute a default. The Lessee may give notice to the City COSM Form 1/99 2