Res 1989-047 - Laserfiche WebLink

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B. As further consideration and rental for the demised premises described in Section 2 (A) and 2(B), above, Lessee agrees to pay to Lessor a monthly fee equal to one percent (1%) of the gross income from all commercial activity of Lessee at the airport , excluding sales or services to federal, state or local governments or other tax exempt organizations or agencies. Said payment to be made within ten (10) days of the last day of the previous month and shall be based on income during the previous month. C. And, as further consideration and rental for the demised premises described in Sections 2 (A) and 2(B), above, Lessee agrees to pay to lessor a monthly fuel flowage fee equal to two percent (2%) of the retail value of all fuel used at the Airport by Lessee which is not purchased from an authorized airport fuel vendor. Said fuel flowage fee is to be paid within ten (10) days of the last day of the previous month and shall be based on the fuel usage during the previous month. Lessee shall provide to Lessor any business records reasonably necessary, as deemed by Lessor, to verify amount of said fees. Should the commencement or termination of this lease agreement take effect on other than the first day of a month, all rents and fees payable by lessee under this lease agreement shall be prorated accordingly. 4. Use of Demised Premises. Lessee is hereby granted the non-exclusive privilege to engage in the business operations and services flight instruction and ground school, and rental, charter, and leasing of aircraft. 5. Term of Leas.e. The term of this lease for the property described in Section 2(A) and Section 2(B) shall be for a term of one (1) year, beginning the 9 day of May 1989, and , running through the 8 day of May 1990. , -4-