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<br />-7- <br /> <br /> <br />I <br /> <br />XIV. <br /> <br />A. If Medcalf fails to pay any rental or other payment due <br /> <br />hereunder or upon its failure to perform any other of the terms of <br /> <br />this lease to be observed or performed by Medcalf on his part <br /> <br /> <br />to be observed or performed, or if Medcalf shall become bankrupt, <br /> <br />or insolvent, or file any debt or proceedings, or take or have <br /> <br />taken agaiBst Medcalf in any court pursuant to any statute either <br /> <br />of the United States or of the State of Texas a petition in bank- <br /> <br />ruptcy or insolvency or for reorganization or for the appointment <br /> <br />of a receiver or trustee for all or a portion of Medcalf's property, <br /> <br />or if Medcalf makes an assignment for the benefit of creditors, or <br /> <br /> <br />petitions for or enters into an arrangement, or suffers this lease <br /> <br /> <br />to be taken under any writ of execution or attachment, or if this <br /> <br /> <br />lease shall pass to or dissolve upon by law or otherwise, one <br /> <br /> <br />other than Medcalf except as herein provided, then, in anyone or <br /> <br />more such events, upon City serving written thirty (30) day notice <br /> <br /> <br />of cancellation upon Medcalf specifying the nature of said default, <br /> <br /> <br />and if, at the expiration of said thirty (30) days, Medcalf shall <br /> <br /> <br />have failed to comply with or remedy such default, then this lease <br /> <br /> <br />and the term thereunder, shall, at the option of City, terminate <br /> <br />and come to an end on the date specified in such notice of cancella- <br /> <br /> <br />tion, and Medcalf shall quit and surrender the demised premises <br /> <br /> <br />to City as if the term hereunder ended by the expiration of the <br /> <br /> <br />time fixed herein, and Medcalf shall remain liable for any unpaid <br /> <br /> <br />rent and all other charges up to the date of termination. <br /> <br /> <br />B. If the City shall be ln default in performing any of the <br /> <br /> <br />terms or provisions of this lease required on its part to be per- <br /> <br /> <br />formed, and Medcalf shall give City notice in writing of such <br /> <br />default, and if City shall fail to cure such default within thirty <br /> <br /> <br />(30) days after service of such notice, then and in such event, this <br /> <br />lease shall be terminated and cancelled. <br /> <br />I <br /> <br />;11 <br /> <br />XV. <br /> <br /> <br />A. City reserves the right to operate the airport in accord- <br /> <br />ance with the obligation to the federal or state government under <br /> <br />any of the agreements for which aid for development was granted; <br /> <br />provided, however, if such operation restricts the operation of <br />