Res 1999-123 - Laserfiche WebLink

Home Browse Search

VOL 217fAcr141 2.02. The Lessee agrees to pay to the Lessor a fixed rental in the sum of $0.10 per square foot per year for the entire area of the Leased Premises. The annual amount for the fixed rental shall be paid in equal monthly installments in the amount of$ 110.69, which shall be due and payable on the last day of each month for the succeeding month. The Lessee, at its option, may make advance payments of up to one year's fixed rentals, but there will be no discount for these payments. The parties agree that the first annual installment for the fixed rental shall be abated, but all other fees due under this Lease shall be paid as required. 2.03 As further consideration, the Lessee agrees to pay to the Lessor a percentage rental in the form ofa monthly fee equal to one percent (1%) of the Lessee's gross income from all of the Lessee's commercial activity at the Leased Premises, excluding sales or services to federal, state or local governments or other tax exempt organizations or agencies. Payment is to be made within ten days of the last day of the previous month and shall be based on the Lessee's income during the previous month. 2.04 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 facilities will be charged at the then established standard rental or use fee prescribed by the Lessor. 2.05 The Lessee shall provide access to the Lessor, upon reasonable notice, to all business records necessary to verify the amount offees and/or percentage rental due under this Lease. If this Lease commences or terminates on a day other than the first day of a month, all monthly rents and fees payable by the Lessee for the first month under this Lease shall be prorated accordingly. 2.06. The Lessor agrees that the revenue derived from this Lease will be allocated toward maintenance and improvement ofthe Airport. This requirement is not mandatory, however, unless it is required by existing indenture or agreement with the United States government. 2.07. 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. 2.08. The term ofthis Lease will commence on June 15 of 20 years. , 1999 and will extend for a period 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 aircraft storage, maintenance, repair, restoration and sales and for no other purposes without the advance written consent of the Lessor. The Lessee shall use the Leased COSM form 1/99