Res 2011-054 - Laserfiche WebLink

Home Browse Search

City of San Marcos Airport 2.04. As further consideration, the LESSEE agrees to pay to the LESSOR one percent (1 %) of the gross receipts from LESSEE's sale of goods and services conducted at the San Marcos Municipal Airport. This payment shall be made on or before the tenth (10th) day of the month following the end of each calendar year quarter during the term of this Lease. 2.05. The LESSEE agrees to pay to the LESSOR a monthly fee for the use of tie -down or any other AIRPORT FACILITIES for aircraft, motor vehicles or any other equipment or items which are outside of the LEASED PREMISES and under the custody and control of the LESSEE or its employees, agents or customers. The AIRPORT FACILITIES will be charged at the then - established standard rental or use fee prescribed by the LESSOR. 2.06. The LESSEE shall provide access to the LESSOR, upon reasonable notice, to all business records necessary to verify the amount of fuel flowage fees and/or percentage of gross receipts rental due under this LEASE. If this LEASE commences or terminates on a day other than the First (1sT) day of a month, all monthly rents and fees payable by the LESSEE for the First (1sT) month under this LEASE shall be prorated accordingly. 2.07. The LESSOR 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. 2.08. If the LESSEE fails to pay any rent or any other sum payable to the LESSOR 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. 2.09. The term of this LEASE will commence on May 3, 2011. The term of this LEASE will expire on May 2, 2041. LESSEE shall have the option to renew this lease for an additional ten (10) year term at the then current rates for improved airport property. 2.10. LESSEE shall make available to CITY or Airport Manager such books and records necessary to verify amounts payable under this Article. ARTICLE 3. USE AND CARE OF PREMISES 3.01. The use of the LEASED PREMISES by the LESSEE shall be restricted to aviation purposes, unless otherwise approved in writing by the LESSOR. Specifically, the LEASED PREMISES shall be used and occupied for the business of aviation related activities and business including but not limited to: aircraft and aircraft Commercial Land Lease Page 3 of 18