T-Hangar 2 Lease - Laserfiche WebLink

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12. 13 14. T.HANGAR NO.7 hangars. A written report will be submitted to the TENANT of any violations, or safety or fire hazards noted. INSURANCE: THE PARTIES HERETO AGREE THAT THIS LEASE IS A LEASE OF STORAGE SPACE ONLY. IT SHALL BE THE TENANT'S RESPONSIBILITY TO INSURE ANY CONTENTS HE ELECTS TO STORE IN THE T.HANGAR, INCLUDING BUT NOT LIMITED TO AIRCRAFT, FOR SUCH LIMITS AND COVERAGE AS HE, THE TENANT, MAY DESIRE. THE PARTIES FURTHER AGREE THAT THE CONTENTS STORED IN THE T.HANGAR SHALL BE DEEMED TO BE IN THE FULL AND EXCLUSIVE CARE, CUSTODY, CONTROL AND POSSESSION OF THE TENANT AND NOT THE LANDLORD. The TENANT shall provide aircraft liability insurance coverage in an amount not less than: $100,000 - Bodily lnjury $300,000 - Property Damage $300,000 - Each Occurrence The TENANT agrees to provide and maintain proof of aircraft liability insurance requirements throughout the term of the lease. DEFAULT: lf the TENANT shall fail to timely pay his rent, or the TENANT violates any of the terms or covenants of this lease in any manner whatsoever, the LANDLORD may, after giving thirty (30) days written notice of such default, declare this lease cancelled and all the TENANT'S rights therein forfeited. Such notice of default shall be given to the TENANT by first-class U.S. Mail, at his last known address, or by posting said notice inside the leased t-hangar. After a declaration of cancellation and forfeiture has been made, the LANDLORD may immediately, without other notice, re-enter and take possession of the premises, using such force as may be reasonably necessary to remove all persons and property therefrom. The LANDLORD shall not be liable for any loss or damage to property by reason of said forfeiture and re- entry. The TENANT agrees to pay to the LANDLORD a reasonable attorney's fee and costs incurred for the purposes of enforcing any of the provisions of this lease. TERMINATION: This lease may be unilaterally canceled or terminated by either party without reason only after giving the other party thirty (30) days advance notice of such termination. 4