Res 2012-003 - Laserfiche WebLink

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City of San Marcos Airport G. The LESSEE fails to construct to completion the FACILITIES as provided under Article 5. H. Any default by LESSEE under the Lease of Airport Property for use as an FAA Repair Station entered into by the parties herein on August 2, 2011 and approved by City Council Resolution No. 2011 -93. I. LESSEE defaults on any mortgage advanced by a lender to finance the Facilities, improvements, fixtures for the Leased Premises 11.02. The acceptance by the LESSOR of the LESSEE's monthly payments or quarterly payments subsequent to the occurrence of any event of default shall be considered to be compensation for LESSEE's use and occupancy of the LEASED PREMISES, and shall in no way constitute a waiver by the LESSOR of its right to exercise any remedy provided for any event of default. 11.03. Upon the occurrence of any of the events of default, the LESSOR shall have the option to pursue any One (1) or more of the following remedies without any notice or demand whatsoever: A. Terminate this LEASE. In this event the LESSEE shall immediately surrender the LEASED PREMISES to the LESSOR, and if the LESSEE fails to do so, the LESSOR may enter and take possession of the LEASED PREMISES and remove the LESSEE and any other person occupying the premises, by force if necessary, without prejudice to any other remedy it may have for possession or arrearages in rent, and without being liable for any resulting damages. The LESSEE agrees to pay to the LESSOR the amount of all resulting costs, losses and damages incurred by the LESSOR within Thirty (30) days of the LESSOR's issuance of a statement to the LESSEE. If LESSOR terminates this LEASE, LESSEE shall be deemed to have relinquished all right, title and interest in and to all real property improvements and the FACILITIES on the LEASED PREMISES and such shall become the property of the LESSOR. B. Relet the LEASED PREMISES and receive the rent. The LESSEE agrees to pay to the LESSOR any resulting costs, and any deficiency that may arise by reason of reletting, within Thirty (30) days of the LESSOR's issuance of a statement to the LESSEE. C. Enter the LEASED PREMISES, by force if necessary, without being liable for prosecution or any claim for damages, and do whatever the LESSEE is obligated to do under the terms of this LEASE. The LESSEE agrees to reimburse the LESSOR for any expenses the LESSOR incurs in effecting compliance with the LESSEE's obligations under this LEASE, within Thirty (30) days of the LESSOR's issuance of a statement for the expenses to the LESSEE. The LESSOR and its officers, agents and Initials: Lessor_Lesseel-"'-