Res 1999-180 - Laserfiche WebLink

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Article 5. Construction of Hangar; Alterations and Fixtures 5.01. The Lessees shall construct an aircraft storage hangar (the "Hangar") on the Leased Premises as depicted generally on the attached Exhibit "B". The construction shall be in accordance with sealed plans for the complete project prepared by an architect or structural engineer licensed or registered in the State of Texas. The plans must be accompanied by the architect or engineer's estimated cost of the construction and the time schedule for completion of the construction. The plans and the time schedule shall be subject to approval by the City. 5.02. The Lessees shall substantially begin the construction of the Hangar within 90 days of the date of this Lease, shall diligently and continuously pursue the construction to completion, and shall fully complete the facilities within one year of the date of this Lease. Any delay or lack of progress in the construction will constitute a default by the Lessees, and will authorize the Lessor to pursue all remedies available to it as described in Article 11 of this Lease. 5.03. The Lessees shall not make any further alterations, additions, or improvements to the Leased Premises without the advance written consent of Lessor. All improvements, alterations, additions and fixtures which may be made or installed upon the Leased Premises shall become the property of the Lessor and shall remain upon and be surrendered with the Leased Premises at the tennination of this Lease, unless the Lessor requests their removal, in which event the Lessees shall remove them and restore the Leased Premises at the Lessees' expense. 5.04. The Lessees may mortgage their leasehold interest in the Leased Premises for the purpose of obtaining funding for the construction of the Hangar or other improvements on the Leased Premises. The Lessees shall ensure that no other lien or similar obligation is imposed upon the Leased Premises for any alteration, repair, labor performed or materials furnished to the Leased Premises, and the Lessees shall immediately discharge any lien or charge after the lien occurs or charges become due and payable. In the event the Lessees dispute the lien or obligation, however, the Lessees shall have the right to promptly pursue settlement or litigation without paying the claim until the claim becomes final and subject to no further appeal by the Lessees. The Lessees shall hold harmless, indemnify and defend the Lessor, its officers, agents and employees from and against any claims, demands or suits related to such mortgages, liens or obligations. 5.05. The Lessees shall not do any of the following without the Lessor's advance written consent: 1) make any changes to the Hangar; 2) install any exterior lighting, shades or awnings, or any exterior decorations or paintings on the Hangar; or 3) erect, install or change any signs, window or door lettering, placards, decorations, or advertising media of any type which can be viewed from the exterior of the Hangar. COSM Form 1/99 4