Res 2007-044 - Laserfiche WebLink

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paid in equal monthly installments in the amount of $ 201.98, which shall be due and payable on the last day of each month for the succeeding month. The Lessee, at their option, may make advance payments of up to one year's rentals, but there will be no discount for these payments. 2.03. The City agrees that the revenue derived from this Lease will be allocated toward maintenance and improvement of the Airport. This requirement is not mandatory, however, unless it is required by existing indenture or agreement with the United States government. 2.04. If the Lessee fails to pay any rent or any other sum payable to the City 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. 2.05. The term of this Lease will commence on April 1, 2007 and will extend for a period of 20 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 underthe terms of this Lease atthe time of expiration. The terms of the revised lease will be similar to those offered by the City for similar improved property at the Airport at that time. The term of the revised lease shall not be for more than ten years. Article 3. Use and Care of Premises 3.01. The use of the Leased Premises by the Lessee shall berestricted tonon-commercial aviation purposes, unless otherwise approved in writing by the City. Specifically, the Leased Premises shall be used and occupied for the purpose of personal aircraft storage and for no other purposes without the advance written consent of the City. Lessee may not rent, lease or sublease any space or portion of space within the Leased Premises. The Lessee shall use the Leased Premises in good faith continuously for these purposes 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 City's advance 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, serviceways, 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 building located on the Leased Premises. Outside storage is specifically prohibited without the advance written consent of the City. COSM Form 1/99 2