|
<br />e
<br />
<br />e
<br />
<br />(b) as to the 34 tie downs shown on Exhibit "B" attached
<br />hereto, incorporated by reference herein and made a part
<br />hereof for all purposes, the term of this Agreement shall
<br />be for a one year period commencing February 1, 2002, and
<br />terminating January 31, 2003, unless sooner terminated as
<br />provided in the Lease Agreement dated the 1st day of
<br />January, 1997. Said lease term shall continue thereafter
<br />on a year to year renewal basis, without further action
<br />of the parties, unless cancelled by the Lessee by 30 days
<br />written notice prior to the ~xpiration of the primary or
<br />any renewal term. Lessor reserves the right to cancel
<br />this Amended Lease, as to the property described in this
<br />subparagraph (b), in the event another party leases from
<br />Lessor, the fixed base operator site adjacent to the
<br />premises described in this subparagraph (b), and as more
<br />fully shown on Exhibit "B" attached hereto, incorporated
<br />by reference herein and made a part hereof for all
<br />purposes. Lessor shall give Lessee 120 days notice of
<br />such cancellation.
<br />
<br />(c) Lessor grants Lessee in consideration of the payment of
<br />a $500.00 lease option fee, a first option, which shall
<br />be effective through December 31, 2004, to lease the T-
<br />Hangar Site 4, as shown on Exhibit "A", attached hereto,
<br />incorporated by reference herein and made a part hereof
<br />for all purposes, upon the rental provided for T-Hangar
<br />sites in Article III, hereof, and for the term expiring
<br />as provided in Article I(a), hereof; provided, however,
<br />in the event that Lessor receives a bona fide offer from
<br />another party, for the lease of said T-Hangar Site 4,
<br />Lessee shall have. 30 days from written notice by Lessor
<br />to Lessee, to exercise Lessee's option. If Lessee fails
<br />within said 30 day time period, to exercise said option
<br />agreement on T-Hangar site 4, and enter into an amended
<br />lease with Lessor for T-Hangar Site 4, said option herein
<br />granted to Lessee shall be null and void, and Lessor may
<br />lease T-Hangar Site 4 to another party, without further
<br />rights or claims by Lessee.
<br />
<br />The term of the original Agreement and Lease, dated January 1,
<br />1997, shall continue to be for the period commencing on January 1,
<br />1997, and terminating December 31, 2017, unless sooner terminated
<br />as therein provided. Lessee reserves the option to renew the
<br />original Lease for two consecutive five year terms provided written
<br />notice is provided the Lessor within 30 days of the lease
<br />termination, or the termination of the first option term, as the
<br />case may be.
<br />
<br />The construction schedule for the three T-Hangar sites shown
<br />on Exhibit "An, is attached hereto as "Construction Schedule
<br />(Exhibit "C")", incorporated by reference herein, and made a part
<br />hereof for all purposes. .
<br />
<br />2
<br />
|