1997-10-20 Special Called Regular and Workshop Meeting of City Council

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e e method for the determination of such index is substantially different than that existing at the time this Agreement and Lease is executed, the basis for the rental rate adjustment shall be the most closely comparable index published by the u.s. Government. ARTICLE III-D - RENTALS AND CHARGES - PAYMENTS 1. The rentals provided in Articles III-A, III-B, and III-C, above, during the term of this Agreement and Lease shall be paid monthly, in sum equal to 1/12 of the annual rental due hereunder, in advance on the first day of each and every month. In the event that this Agreement and Lease commences or terminates other than on the first or last day of the month, pro-rata payments shall be made for the fractional part of a month involved. 2. The Lessor is entitled to collect and the Lessee agrees to pay, all rentals due under this Agreement and Lease to the city of La Porte, La Porte Municipal Airport, La Porte, Texas, without notice to the Lessee. Rentals more than thirty (30) days past due may be subject to a service charge of one percent (1%) per month, based on an annual rate of twelve percent (12%). 3. without prejudice to any other remedy which otherwise might be used for arrearS of rent or other breach of this Agreement, if the Lessor is required or it elects to pay any sum or incurs any obligations or expense, by reason of a failure, neglect or refusal of the Lessee to perform anyone or more of the terms, conditions or covenants of this Agreement and Lease or as the result of any act or omission of Lessee contrary to said terms, conditions and covenants, the sum or sums so paid or the expense so incurred, including all interest, costs, damages and penalties may be added to any installment of rent thereafter due hereunder and each and every part of the same shall be and become additional rent recoverable by the Lessor in the same manner and with like remedies as if it were originally a part of the rent as set forth hereinabove. ARTICLE IV - ACTIVITIES. USES. PRIVILEGES AND OBLIGATIONS OF THE LESSEE 1. A Fixed Base Operations is defined as a commercial aviation activity conducted by a person, partnership, firm or corporation engaged in the hangaring, maintenance, care and operation of aircraft for use by the p~blic, and such other activities as may be pertinent to such use. This definition specifically includes all terms as set forth in Minimum Requirements for Airport Aeronautical Services at the La Porte Municipal Airport, made a part hereof by reference. 2. During the term of this Agreement and Lease, the Lessee agrees to use the Leased Premises for the purposes or activities stated above, subject to the conditions generally or particularly set forth herein, and not to use or permit the use of the Leased Premises or any part thereof for any purposes or activities other 6