Aviation Hangar Lease

AVIATION HANGAR LEASE AGREEMENT

Parties

Recitals

WHEREAS, Lessor is the lawful owner or authorized manager of the aviation hangar facility located at (the "Facility"); and

WHEREAS, Lessor desires to lease to Lessee, and Lessee desires to lease from Lessor, the hangar space identified as Hangar Number (the "Premises"), for the storage and limited maintenance of aircraft, subject to the terms and conditions set forth herein; and

WHEREAS, the parties intend this Agreement to set forth the exclusive, written terms governing the lease of the Premises.

Lease Term

Term Commencement Date:    Term Expiration Date:

Renewal: Unless otherwise agreed in writing, this Agreement shall not automatically renew. Any renewal shall be by written amendment executed by both parties.

Scope of Work / Permitted Use

Lessee shall use the Premises solely for the storage, routine maintenance, and boarding of the aircraft described as: Make/Model/Registration: . No commercial flight operations, major alterations, or hazardous activities are permitted without Lessor's prior written consent.

Payment Terms

Rent Due Date: Rent is due in advance on or before the day of each month. First rent payment due on .

Late Charge: If rent is not received within days after the due date, Lessee shall pay a late charge equal to the greater of of monthly rent or actual bank charges.

Maintenance, Repairs and Alterations

Lessee shall, at Lessee's sole cost and expense, keep the Premises clean and in good repair, reasonable wear and tear excepted. Lessee shall not make structural alterations or install fixed equipment without Lessor's prior written consent. All permitted alterations shall be performed in a good and workmanlike manner and may be required to be removed at lease termination, at Lessor's election.

Insurance and Indemnity

Lessee shall maintain, at Lessee's expense, commercial general liability insurance with limits not less than per occurrence, and hull/aircraft liability insurance covering the aircraft stored in the Premises. Lessee shall name Lessor as an additional insured or loss payee where applicable and shall deliver certificates evidencing such insurance prior to occupancy and upon renewal.

Lessee shall indemnify, defend and hold harmless Lessor from and against all claims, liabilities, losses and expenses (including reasonable attorney fees) arising from Lessee's use of the Premises, except to the extent caused by Lessor's gross negligence or willful misconduct.

Environmental; Hazardous Materials

Lessee shall not store, use, generate, or dispose of hazardous substances in or about the Premises except in compliance with all applicable laws and only in quantities customary for aircraft maintenance and operation. Lessee shall promptly notify Lessor of any release or suspected release of a hazardous material and shall bear all costs of cleanup and remediation caused by Lessee's activities.

Access, Security and Keys

Lessor shall furnish Lessee with keys/cards to access the Premises. Lessee shall not duplicate keys or permit access to third parties except as authorized in writing by Lessor. Lessee is responsible for securing the Premises and shall promptly report any security breach.

Assignment and Subletting

Lessee shall not assign this Agreement or sublet the Premises, in whole or in part, without Lessor's prior written consent, which consent shall not be unreasonably withheld. Any attempted assignment or subletting without consent shall be void and constitute default.

Default and Termination

If either party materially defaults in the performance of any obligation under this Agreement, the non-defaulting party may deliver written notice specifying the default. The defaulting party shall have days to cure the default. If not timely cured, the non-defaulting party may terminate this Agreement and pursue all remedies permitted by law.

Early Termination: Lessee may terminate this Agreement early only with Lessor's written consent and upon payment of any early termination fee as agreed in writing by the parties.

Confidentiality

Each party acknowledges that in the performance of this Agreement it may acquire Confidential Information of the other party. "Confidential Information" includes financial terms, security protocols, and non-public operational information. Each party agrees not to disclose Confidential Information to third parties except as required by law or with the disclosing party's prior written consent, and to use confidential information solely for purposes of performing obligations under this Agreement. Confidentiality obligations shall survive termination of this Agreement for a period of two (2) years.

Governing Law; Dispute Resolution

This Agreement shall be governed by and construed in accordance with the laws of the state of without regard to its conflict of laws principles. The parties agree that disputes arising under this Agreement shall be resolved in the state or federal courts located in the county in which the Facility is located, and each party submits to the exclusive jurisdiction of such courts.

Inspection

Lessor or Lessor's agents may enter the Premises during normal business hours upon reasonable notice to inspect the Premises, or immediately in the event of an emergency or threat to safety or property.

Acceptance of Condition

Lessee acknowledges that Lessee has examined the Premises and accepts the Premises in its present condition, subject to any items expressly listed on the move-in condition report signed by both parties and attached hereto.

Entire Agreement; Amendments

This Agreement, including any attachments or addenda executed by the parties, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, letters, proposals and agreements. Any amendment or modification of this Agreement must be in writing and signed by both parties.

Notices

All notices required or permitted under this Agreement shall be in writing and delivered by hand, certified mail, or nationally recognized courier service to the addresses set forth above or to such other address as either party may designate in writing.

Additional Provisions

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