Res 1997-161 - Laserfiche WebLink

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...-. 18L1PAGE 552 cVOL (3) If Lessee shall become a bankrupt, or insolvent, or file any debtor proceedings, or take or have taken against Lessee in any court pursuant to any statute either of the United States or of the State of Texas a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee for all or a portion of Lessee's property, or if Lessee makes an assignment for the benefit of creditors, or petitions for or enters into an arrangement, or suffers this Amendment to be taken under a writ of execution or attachment or if this Amendment passes to or dissolves upon by law or otherwise to anyone other than Lessee except as provided, the same shall constitute a default on the part of Lessee and upon Lessor depositing in the U.S. Mail, certified, return receipt requested, written notice of cancellation of this Amendment to Lessee addressed as set forth below, specifying the nature of default and upon Lessee's failure to cure or remedy such default within ten (10) days of Lessor's mailing of notice, then this Amendment shall terminate and end on the date set forth in such notice of cancellation, and Lessee shall quit and surrender the Leased Premises to Lessor and Lessee shall remain liable for any unpaid rentals and other monies to the date of termination and thereafter, as provided by law. Termination of this Amendment by any of the above provisions shall not affect, waive, or limit any other remedies at law to which Lessor may be entitled including, but not limited to, the enforcement of landlord's liens as provided in Chapter 54, Property Code, V.T.C.A., and the attachment of Lessee's property as provided in the Texas Rules of Civil Procedure. B. Default by Lessor. (1) It is understood and agreed by and between Lessor and Lessee that the continuing use of the airport as an airport for general aviation is essential to the operation of Lessee and that the failure to continue the use of the airport for airport and aviation purposes shall constitute a default in the Amendment on the part of Lessor. (2) Upon Lessee giving written notice of such default to Lessor and upon the failure of Lessor to cure such default within thirty (30) days after the receipt of written notice, this Amendment shall terminate and end as of the date one hundred and twenty (120) days after the receipt of written notice. Lessee and Lessor shall be released from and relieved of all further obligations to accrue. Lessor shall use its best efforts to insure the continuing use of the airport as a general aviation facility, but under no condition shall Lessee be entitled to any remedy for Lessor's default other than the termination of this Amendment. XIII. Landlord's Lien A. Lessee gives to the Lessor a lien upon all of its property, now or at any time placed in or upon the Leased Premises, to secure the prompt payment of the rent stipulated to be paid for the use of the Leased Premises, all exemptions of such property being waived. B. In the event Lessee shall fail or refuse to pay any rentals in full when due, Lessee grants Lessor the right to enter upon the Leased Premises and to seize any or aU property legally subject to lien; to hold property until Lessee shall have paid all of the arrearage plus a reasonable amount to compensate for the costs of seizure and storage; or additionally at Lessor's option, to foreclose said security interest under the Uniform Commercial Code of the State of Texas, or in any other manner and form provided by law. The statutory lien for rent is not waived, but the express contractual lien granted is addition and supplemented. XIV. Ownership of Improvements THE LESSOR AND LESSEE AGREE THAT THE REFUELING FACILITY, TO INCLUDE TANKS, PUMPS, AND METERS, TO BE CONSTRUCTED AND/OR INSTALLED ON THE LEASED PREMISES UNDER THIS AMENDMENT CONSTITUTE A PERMANENT IMPROVEMENT. THESE FACILITIES AND ALL OTHER PERMANENT IMPROVEMENTS TO THE LEASED PREMISES MADE DURING THE TERM OF THIS LEASE OR ANY EXTENSION, SHALL REVERT TO THE LESSOR UPON ANY TERMINA nON OF THIS LEASE. XV. Miscellaneous Provisions A. Inspections. Inspections of the improvements on the Lease Premises shall be conducted by Lessee on a regular basis so as to provide conditions of maximum safety for all 6