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• <br /> which acquires any right, title or inferest in or to the lease or <br /> mort <br />a <br />e <br />f <br />h d <br />f tr <br />st <br />d <br />f <br />l <br />b <br />h <br />l <br />t <br />t <br /> g <br />, <br />g <br />suc <br />ee <br />o <br />u <br />orec <br />osure o <br />a <br />e <br />y <br />d es <br />the lease <br />o <br /> or other instrument of foreclosure, or otherwise by, through or under <br /> such instrument, shall thereby automattcaCly become bound and obligated <br /> to every covenant on the part of Lessee herein contained or stated <br /> of reasonably arising therefrom; except that it is not intended to hereby <br /> provide that the mere execution, delivery and acceptance of the deed <br /> of trust, mortgage or other Zien instrument, shall thereby obligate <br /> either the trustee or mortgagee therein to the covenants on Lessee's <br /> part herein contained. it is the purpose and intention of this section <br /> of this lease to grant Lessee the utmost freedom in hypothecating or <br /> mortgaging the confemplated buildings and the Lessee's Leasehold estate <br /> in the land; provided the City be fully protected against any possibiltty <br /> of any person, firm or corporation lawfully coming into possession <br /> of the premises who is not bound by every covenant on the part of Lessee <br /> herein contained. <br /> Failure of performance of any covenant on the part of Lessee <br /> herein contained or resonably arising therefrom, if such failure be <br />• or an <br />nkr <br />tc <br />t <br />i <br />b <br />t <br />i <br /> y <br />n <br />a <br />up <br />y, <br />rus <br />ee <br />gnee or <br />by fault or om-i sion of any ass <br /> receiver, or any executor or administrator, shall entttle the Ctty to <br /> exercise any of its remedies herein provided in the event of any such <br /> failure, as fully as if such failure had been by faulf or omisston on <br /> the part of the Lessee. <br /> X/ / /. <br /> Failure on the part of the Lessee to perform any of the terms, <br /> agreements, conditions and covenants imposed by this tease shall, at the <br /> option of the City, cancel the Cease and aCl rfghts of Lessee shall be <br /> thereupon terminated and all buildings and permanent tmprovements <br /> placed on said airport by Lessee shall become the property of the City <br /> as liquidated damages, provided, however, Lessee shall have sixty (60) <br /> days written notice from the City in which to correct any default before <br /> cancellation, except that no notice shaCl be required for failure to <br /> pay any installment of rental as herein provided. The failure of the <br /> city to insist in any one or more instances upon performance of any of <br /> the terms or conditions of this lease shall not be construed as a <br /> watver or relinquishment of the future performances of any such term <br /> or condition. <br />160. <br />