Res 2002-071 - Laserfiche WebLink

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VOL 300p~G[520 2.09. 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. 2.10. The term of this Lease shall commence on April 1 , 2002 and shall extend for a period of 30 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. At the end of the first 20 years of this Lease, the fixed rental rate provided for in Paragraph 2.02 above shall be increased to the then- prevailing market rate for raw land as determined by the City of San Marcos, for the remaining lease term. The market rate shall not be less than $.20 per square foot per year. 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 providing aircraft storage and aircraft maintenance, and for no other purposes without the advance written consent of the Lessor. The Lessee shall use the Leased Premises in good faith continuously for this purpose 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 Lessor's prior 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, service ways, 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 confines of the building located on the Leased Premises. Outside storage is specifically prohibited without the advance written consent of the Lessor. 3.06. The Lessor 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 Lessor's failure to 3