Airport T-Hangar 8 Lease - Amended

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LESSEE__________ 12 LESSOR__________ 9. Assignment, Subleasing and Renting. Except as provided in this Section 10, Lessee shall not assign, sublet, transfer, mortgage, pledge, hypothecate or encumber this Lease or any interest therein, nor rent or sublet the whole or any part of the Premises, nor shall this Lease or any interest hereunder be assignable or transferable by operation of law or by any process or proceeding of any court, or otherwise, without the prior written consent of Lessor, which consent shall not be unreasonably withheld or delayed. Month-to-Month leases are not assignable. 9.1 Assignment by Lessee. Upon receipt of Lessor’s prior written consent and as otherwise provided in this Section 10, Lessee shall have the right to fully assign its rights under the Lease to the next available person on the T-hangar wait list. Lessor reserves the right to refuse to give such consent if, in Lessor’s reasonable business judgment the proposed assignee is not financially or otherwise reasonably capable of fully performing the obligations of Lessee under this Lease; or that the proposed assignee’s use of the Premises would result in the Premises or Improvements being used in contravention of the terms of this Lease. The proposed assignee must meet all county requirements then existing for a new tenant and assume the existing lease as tenant. In the event an assignee is approved by Lessor in writing and upon such assignee’s written acceptance of all terms and conditions of the Lease, Lessee shall be released from any further obligation under the Lease. 9.2 Assignment by Lessor. Lessor shall have the right, in Lessor’s sole discretion, to assign any of its rights under this Lease (and in connection therewith, shall be deemed to have delegated its duties), and upon any such assignment, Lessee agrees that Lessee shall perform its obligations under this Lease in favor of such assignee. 9.3 Transfer Fee. Each time the right to occupy a hangar unit is transferred by an assignment or sublease, the Lessee shall pay the Lessor a sum of $525.00, as an administration fee. 9.4 Subleasing and Renting. Subleases or renting of T-hangers is prohibited due to a long waiting list of interested tenants. 10. Damage, Destruction, and Condemnation. 10.1 Damage or Destruction of Premises. If any portion of the Premises or the Improvements is damaged in any manner, Lessee shall promptly remove from the Airport all damages and debris and timely cause repairs to be made to restore the Premises and Improvements to an orderly and safe condition; provided the Lessee shall not be required to restore the Improvements. In the event new Improvements are undertaken by Lessee, all work shall be performed in accordance with the terms of this Lease, and Lessee shall not receive any abatement of Lessee’s rent obligations.