Res 1997-178 - Laserfiche WebLink

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VOL 176 PAGE ßl1 -2- 2.4 Should Lessees fail to pay when due any rent or any other sum payable to the Lessor under the terms of this Lease, then interest at the maximum legal rate in the State of Texas shall accrue from and after the date on which any sum shall become due and payable, and interest shall be paid by Lessees to Lessor at the time of payment of the sum upon which the interest shall have accrued. 2.5 The term of this Lease shall commence on November 15, 1997 and shall extend for a period of 20 years with the Lessees having the right of first refusal for continuing occupancy under a revised lease at the termination of this Lease provided Lessees are not in default under the terms of this Lease at the time of the termination. The revised lease term shall commence on the day following the expiration of this Lease if Lessees provide Lessor with written notice of such intent no more than 60 days, nor less than 30 days before the date of the expiration of this Lease. ARTICLE 3. Use and Care of Premises 3.1 The uses of the Leased Premises by Lessees shall be restricted to those connected with aviation purposes or aviation-related purposes, unless otherwise approved in writing by Lessor. Specifically, the Leased Premises shall be used and occupied for the following purposes: A. Aircraft storage. B. Routine, non-commercial pilot-owner service and preventive maintenance of Lessees' aircraft C. Ground support equipment and s\Jpplies storage incidental to and directly supporting the storage and non-commercial use of Lessees' aircraft. 3.2 Lessees shall not, without Lessor's prior written consent, keep anything within 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. All property kept, stored or maintained within the Leased Premises by Lessees shall be at Lessees' sole risk. 3.3 Lessees 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. If any repairs required to be made by Lessees are not made within 30 days after written notice delivered to Lessee by Lessor, Lessor may at its option make repairs without liability to Lessees for any loss or damage which may result to its stock or business by reason of such repairs, and Lessees shall pay to Lessor upon demand as additional rental the cost of the repairs plus interest at the maximum legal rate in effect in the State of Texas from the date of payment by Lessor until repaid by Lessees. At the expiration of this Lease, Lessees shall surrender the Leased Premises in good condition, reasonable wear and tear, loss by fire, or other unavoidable casualty, alone excepted. 3.4 Lessees shall take good care of the Leased Premises and keep the same free from waste at all times. Lessees shall keep the Leased Premises, including ramps, signs, sidewalks, service ways, and loading areas adjacent to the Leased Premises neat, clean, and free from dirt or rubbish at all times, and shall store all trash and garbage within the Leased Premises, arranging for the regular pick-up of such trash and garbage at Lessees' expense. 3.5 Lessees shall store all equipment and materials/supplies within the confines of the building located on the Leased Premises. Outside storage is specifically prohibited unless separate written provisions are made with the Lessor.