Res 1995-068 - Laserfiche WebLink

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'i7€ execution of this Lease, an executed corporate guarantee, and executed personal guarantees from its president, Russell P. Stallings, and from Rex P. Stallings, Sr., and Doris R. Stallings, to be jointly and severally liable for the amount of funds provided by TDHCA under the Grant Contract in the event the Lessee is dissolved, files under the federal bankruptcy ~- code, otherwise ceases to be a going concern, or does not fulfill its responsibilities under this Article. 3.18 Lessee agrees to provide Lessor a copy of the certificate of insurance verifying the fire and extended coverage insurance on the Hangar required by Section 8.01, within thirty (30) days after the completion of the Hangar. This certificate must name the Lessor as loss payee. 3.19 Lessee agrees to provide Lessor with a copy of ~essee's compiled Balance Sheet and a compiled Income Statement within thirty (30) days after the end of its fiscal year,. and a copy of Lessee's annual corporate income tax return, within ninety (90) days after the required filing deadline date or extension date during the period of the Grant Contract. ARTICLE 4. Use and Care of Premises 4.01 Lessee agrees to use the Leased Premises for the purpose of modifying and maintaining aircraft, storage of aircraft, and other aviation related activities. 4.02 All improvements and alterations made by Lessee on the Lease Premises are subject to approval by Lessor in writing prior to construction to determine that such construction is in accordance with the various building ordinances, electrical codes and the uses and purposes contemplated by this Lease, and that the same will not constitute a fire or safety hazard or interference in the use of the remainder of the San Marcos Municipal Airport by the general aviation public. No mechanic's and materialman's lien shall be fixed against any of the Leased Premises. 4.03 Lessee will not at any time leave the Leased Premises vacant, -6-