P - Fully Executed - Laserfiche WebLink

Home Browse Search

10.4 Subleasing and Renting. Upon obtaining Lessor's prior writtcn consent and as othcrwise ptovided in this Section, Lessee shall have the right to sublease or rcnt portions of the Prcrnises lbr the storage of'Aircraft. Lessor reserves the Light to refuse to give such consent if,, in Lcssor's rsasonable business.iudgnrent the proposed renter's or sub-lessee's usc of the Prcmises would result in the Prernises being used in contravention of the terms of this Lease. l.essee shall impose on all approvcd renters and sub-lessees the same tcrms set lorth in this l.case to provide for the rights and protections afforded to l-essor hereurrdcr. All such rentals antl subleases shall be consistent with and subordinate to this l,ease as it is arnended from timc to tirne. Such rentals and subleascs shall include the requirement that thc renters and sublcssees will attorn to and pay rent to Lcssor if l,essee ceases to he a pany to this l.ease or is in dcfbult, Lessee shall provide to Lessor a copy of every sublease or rental agleement exccuted by Lessee. No rental or subleasc shall rclicvc l,cssee of any obligations under this Leasc. I l. Damage, Destruction, and Condcmnation. It.l Damage or Destruction of Premises. If any portion of the Premises or the lmprovements 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 Premiscs and Improvements to an ordcrly and safe condition; provided the Lessec shall not be required to restore the lmprovements. ln the event new lmprovements are undertaken by Lessee, all work shall be perfbrmed in accordance with the ternrs of this Lease, and Lessee shall not receive any abatement of Lessee's rent obligations. lL.2 Condemnation. ln the event of any condemnation proceeding in which allor any part of thc Premises or lrnprovements is taken, l,essee may pursue a claitn against the condemner for the value of the lmprovcmcnts and Lcssce's leasehold interest condemned. and any sub-Lessees may pursue a clairn against the condemner for the value of theirsub tenancy interests. ln the event of a partial taking. I-essor shall rcducc thc ground rent payablc by Lessee on a pro rata basis for portions of, the Premises so taken. If Lessor determines in its sole discretion that all or a material portion of the Premises will be, or has been rendered, not reasonably subject to lease as a result of such taking, Lessor may terminate this Lcase by giving Lessee a writtcn notice of termination, and this Lease shall terminate under the provisions of Section 12.2 at the time specified in the notice, which shall not be less than thirty (30) days after the date ofsuch notice. 12. Default. l2.l Lcssee's Default.'l'he occurrencc of any of the following events shallconstitute a default by Lessee under this Leasc unless cured within thirty (30) days following written notice of such violation from Lessor:(i) L,essee lailsto timely payany installmcntolrent or any additional rent; (ii) Lessce violates any requirement under this Lease, includ ing, but not limited to, abandonrnent ofthe Premises; (iii) Lessee assigns or enoumbers any right in this Lease, delegates any performance hereunder, or sublcascs or rents any part ofthe l)rcnrises, cK$opt as cxprcssly purnilted in this t,casel (iv) l,csscc filcs a pctition in r,nssrinftz-- tl l,llssoR frr*L ttu[ 0\A