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Res 1996-201
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6/18/2007 9:16:25 AM
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6/18/2007 9:16:25 AM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Lease
Number
1996-201
Date
11/25/1996
Volume Book
126
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<br /> !O)# <br /> Pursuit of any of the foregoing remedies-shall not preclude pursuit of any of the <br /> other remedies provided or any other remedies provided by law, nor shall pursuit <br /> of any of the other remedies provided constitute a forfeiture or waiver of any rent <br /> due to Lessor or of any damages accruing to Lessor by reason of the violation of <br /> any of the terms, provisions and covenants. Forbearance by Lessor to enforce one <br /> to more of the remedies provided upon an event of default shall not be deemed or <br /> construed to constitute a waiver of default. <br /> ~- 13.2 If, on account of any breach or default by Lessee in Lessee's obligations hereunder, <br /> it becomes necessary for Lessor to employ an attorney to enforce ir defend any of <br /> Lessor's rights or remedies, Lessee agrees to pay any reasonable attorney's fees <br /> incurred by Lessor. <br /> ARTICLE XIV <br /> Landlord's Lien <br /> 14.1 Lessee grants to Lessor a valid first security interest upon all the goods, chattel! <br /> furniture, trade fixtures and property which Lessee may have or own upon the <br /> Leased Premises at any time or times during the term of this Lease, as well as upon <br /> the proceeds of any insurance accruing to Lessee by reason of any destruction of <br /> or damage to any such property, to secure all rents and other sums due or to <br /> become due Lessor, and all exception laws being expressly waived in favor of such <br /> security interest shall not be construed as a waiver of any statutory or other liens <br /> given or which may be given to Lessor but shall be in addition. In connection with <br /> the security interest granted Lessor, it is agreed that in the event of default by <br /> Lessee, Lessor shall have and be entitled to exerCiSf,3 all right and remedies <br /> provided or granted to a secured party after default under the Uniform Commercial <br /> Code (UUCC") with respect to any and all such property, including, without limitation, <br /> the right to take and retain possession of any or all property and to sell or otherwise <br /> _. utilize same at public or private sale or in any other manner authorized or provided <br /> in the UCC. Upon request by Lessor, LE?ssee agrees to execute and deliver to <br /> Lessor from time to time UCC Financing Statements as Lessor may deem <br /> necessary to perfect the security interest of Lessor in the aforementioned property <br /> and proceeds under the provisions of the UCC in force in the State of Texas. <br /> ARTICLE XV <br /> Subordination <br /> 15.1 This lease is subject and subordinate to any mortgage, deed of trust or other lien <br /> which may encumber the Leased Premises and to all renewals, modifications, <br /> consolidations, replacements and extensions. This clause shall be self operative <br /> and no further instrument of subordination need be required by any mortgagee. In <br /> confirmation of such subordination, however, Lessee shall, at Lessor's request, <br /> execute promptly any appropriate certificate or instrument that Lessor may request. <br /> Lessee constitutes and appoints Lessor as Lessee's attorney-in-fact to execute any <br /> certificate or instrument for an behalf of Lessee. In the event of the enforcement <br /> by the trustee or the beneficiary under any mortgage or deed of trust of the <br /> remedies provided for by law or by a mortgage or deed of trust, Lessee will, upon <br /> request of any person or parties succeeding to the interest of Lessor as a result of <br /> the enforcement, automatically become the Lessee of the successor-in-interest <br /> without change in the items or other provisions of this Lease. <br /> -- ~ ARTICLE XVI <br /> Operation of the Airport <br /> 16.1 Lessor reserves the right to operator the Airport in accordance with the obligations <br /> to the Federal or State government under any of the agreements for which aid for <br /> development was granted; however, if operation restricts the operation of Lessee <br /> on the demised premises, appropriate rental reductions shall be negotiated. In the <br /> event that appropriate rental reductions cannot be negotiated between the parties, <br />
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