Res 2007-122 - Laserfiche WebLink

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island and canopy to be constructed pursuant to 5.04 C and D are not eligible for use as cred it. 2.08. The Lessee agrees to pay to the City a monthly fee for the use of tie-down or any other Airport facilities for aircraft, motor vehicles or any other equipment or items which are outside of the Leased Premises and under the custody and control of the Lessee or its employees, agents or customers. The facilities will be charged at the then-established standard rental or use fee prescribed by the City. 2.09. The Lessee shall provide access to the City, upon reasonable notice, to all business records necessary to verify the amount of fees and/or percentage rental due under this Lease. If this Lease commences or terminates on a day other than the first day of a month, all monthly rents and fees payable by the Lessee for the first month under this Lease shall be prorated accordingly. 2.10. The City agrees that the revenue derived from this Lease will be allocated toward maintenance and improvement of the Airport. This requirement is not mandatory, however, unless it is required by existing indenture or agreement with the United States government. 2.11. If the Lessee fails to pay any rent or any other sum payable to the City under the terms of this Lease when due, then interest at the maximum legal rate in the State of Texas shall accrue from the date on which the sum became due and payable. 2.12. The term of this Lease will commence on July 8,2007" or upon execution by both parties whichever is later, and will extend for a period of 20 years. If the Lessee is not in default under the terms of this Lease at the time of expiration, the Lessee will have the right of first refusal for continuing occupancy under a revised lease at the expiration of this term. The term of the revised lease may not exceed ten years. The terms of the revised lease will be similar to those offered by the City for similar improved property at the Airport at that time. Article 3. Use and Care of Premises 3.01. The use of the Leased Premises by the Lessee shall be restricted to aviation purposes, unless otherwise approved in writing by the City. Specifically, the Leased Premises shall be used and occupied for the business of operating an aviation office with aircraft storage and fuel sales and for no other purposes without the advance written consent of the City. The Lessee shall use the Leased Premises in good faith continuously for this purpose throughout the term of this Lease. The Lessee shall not leave the Leased Premises vacant at any time. 3.02. The use of the Fuel Storage Tanks by the Lessee shall be restricted to fuel