Res 1993-037 - Laserfiche WebLink

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1),5 C- substitute indentures and agreements hereinafter entered into with the Federal Government. 2.7 Should Lessee 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 then payable by Lessee 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 Lessee to Lessor at the time of payment of the sum upon which the interest shall have accrued. 2.8 The term of this Lease shall commence on February 23. 199:1 , 1993 and shall extend for a period of twenty (20) years. ARTICLE III. Use and Care of Premises. ~ 3.1. The uses of the subject premises by Lessee shall be restricted to those connected with aviation purposes or aviation-related purposes, except for uses allowed by written agreement. Specifically, the Leased Premises shall be used and occupied - only for the of operating the following business purpose I operations and services: A. Establish and operate a flight training business. B. Establish and operate an aircraft rental, charter, and pilot/aviation supply retail sales business. C. Establish and operate a new and used aircraft sales business. D. Establish and operate an aeronautical engineering and consulting business. E. Open and operate a sandwich shop in accordance with all city health code requirements. All other business purposes must have the prior written consent of Lessor. Lessee shall not at any time leave the Leased Premises vacant, but shall in good faith continuously throughout the term of this Lease conduct and carry on in the Leased Premises the type of business for which the demised premises are leased, and shall keep the Leased Premises open to the public -4-