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Res 1995-068
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Res 1995-068
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Last modified
6/19/2007 9:46:30 AM
Creation date
6/19/2007 9:46:30 AM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Agreement
Number
1995-68
Date
3/27/1995
Volume Book
118
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<br /> 17& <br /> paintings or erect, install or change any signs, window or door <br /> lettering, placards, decorations, or advertising media of any <br /> type which can be viewed from the exterior of the Leased <br /> Premises, unless such additions are substantially similar to <br /> additions already in place at the airport. <br /> ARTICLE 6. <br /> ~ <br /> Utilities <br /> 6.01 Lessee must promptly pay all charges for electricity, water, <br /> telephone service, and other utilities furnished to the leased <br /> premises. <br /> .. <br /> 6.02 Lessor is not liable for any interruption or impairment in <br /> utility services unless interruption of service is caused by the <br /> gross negligence of the City. Maintenance, repair and upkeep of <br /> all utility lines and connections upon the Le,.ased Premises is <br /> the responsibility of the Lessee. Lessee will bear the cost of <br /> installation of any additional utility lines or connections <br /> necessary for its use of the Leased Premises. <br /> ARTICLE 7 - <br /> Lease Purchase Option <br /> 7.01 Five (5) years after the commencement of this Agreement, Lessee <br /> has the option to purchase the Hangar from the Lessor under the <br /> following conditions: <br /> A. Lessee must notify Lessor by written notice that Lessee will <br /> execute this option not earlier than five years.. from the <br /> commencement date of this Lease and not later than 180 days <br /> prior to the expiration of this Lease. <br /> B. The purchase price for the Hangar will equal the amount <br /> originally funded by the TCF grant for building the Hangar less <br /> the amount that has been recaptured through payments made by <br /> Lessee to the Lessor. <br /> C. All tax liability for the Hangar shall become the <br /> i responsibility of the Lessee. <br /> !. - <br /> D. All terms and conditions of this Lease as pertains to the <br /> real property identified in Section 2.01 shall remain in effect. <br /> E. The ownership of the Hangar will revert to Lessor upon the <br /> -8- <br />
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