Land Rent. Land Rent is defined as that rent due and payable to the LESSOR by the LESSEE for the Land, as measured from the outer-most limits of the leased property Premises as set forth and shown on the attached Exhibit “A”. Upon Commencement Date of this Agreement, LESSEE shall pay Land Rent to LESSOR as follows: 1 10/1/2023 - 9/30/2024 0.2410 $11,714.52 $976.21 2 10/1/2024 - 9/30/2025 0.2434 $11,831.64 $985.97 3 10/1/2025 - 9/30/2026 0.2458 $11,949.96 $995.83 4 10/1/2026 - 9/30/2027 0.2483 $12,069.48 $1,005.79 5 10/1/2027 - 9/30/2028 0.2508 $12,190.20 $1,015.85 6 10/1/2028 - 9/30/2029 0.2533 $12,312.12 $1,026.01 7 10/1/2029 - 9/30/2030 0.2558 $12,435.24 $1,036.27 8 10/1/2030 - 9/30/2031 0.2584 $12,559.56 $1,046.63 9 10/1/2031 - 9/30/2032 0.2610 $12,685.20 $1,057.10 10 10/1/2032 - 9/30/2033 0.2636 $12,812.04 $1,067.67 11 10/1/2033 - 9/30/2034 0.2662 $12,940.08 $1,078.34 12 10/1/2034 - 9/30/2035 0.2689 $13,069.56 $1,089.13 13 10/1/2035 - 9/30/2036 0.2716 $13,200.24 $1,100.02 14 10/1/2036 - 9/30/2037 0.2743 $13,332.24 $1,111.02 15 10/1/2037 - 9/30/2038 0.2770 $13,465.56 $1,122.13 16 10/1/2038 - 9/30/2039 0.2798 $13,600.20 $1,133.35 17 10/1/2039 - 9/30/2040 0.2826 $13,736.16 $1,144.68 18 10/1/2040 - 9/30/2041 0.2854 $13,873.56 $1,156.13 19 10/1/2041 - 9/30/2042 0.2883 $14,012.28 $1,167.69 20 10/1/2042 - 9/30/2043 0.2912 $14,152.44 $1,179.37 Facility Rent is defined as that rent due and payable to the LESSOR by the LESSEE for the structures, and appurtenances thereto, upon the Land as measured from the outer-most vertical surfaces of the structures as set forth and shown on the attached Exhibit “A”. Facility Rent for all facilities shall commence on May 1, 2032 and shall be set at the then-current market rent of such facilities, structures, fixtures and improvements as determined by a single independent third-party licensed and accredited commercial property appraiser with aviation and airport property market experience. The appraiser shall be selected by agreement of the Parties.
Appears in 1 contract
Sources: Use and Lease Agreement
Land Rent. Land Rent Rent, notwithstanding whether Exclusive Use or Preferential Use, is defined as that rent due and payable to the LESSOR by the LESSEE for the Land, as measured from the outer-most limits of the leased property Premises as set forth and shown on the attached Exhibit “A”. Upon Commencement Date of this Agreement, LESSEE shall pay Land Rent to LESSOR as follows: 1-5 6/1/2021 - 5/31/2026 $0.4100 $53,224.56 $4,435.38 6 6/1/2026 - 5/31/2027 $0.4223 $54,821.28 $4,568.44 7 6/1/2027 - 5/31/2028 $0.4350 $56,469.96 $4,705.83 8 6/1/2028 - 5/31/2029 $0.4481 $58,170.60 $4,847.55 9 6/1/2029 - 5/31/2030 $0.4615 $59,910.12 $4,992.51 10 6/1/2030 - 5/31/2031 $0.4753 $61,701.60 $5,141.80 11 6/1/2031 - 5/31/2032 $0.4896 $63,557.88 $5,296.49 12 6/1/2032 - 5/31/2033 $0.5043 $65,466.24 $5,455.52 13 6/1/2033 - 5/31/2034 $0.5194 $67,426.44 $5,618.87 14 6/1/2034 - 5/31/2035 $0.5350 $69,451.56 $5,787.63 15 6/1/2035 - 5/31/2036 $0.5511 $71,541.60 $5,961.80 16 6/1/2036 - 5/31/2037 $0.5676 $73,683.60 $6,140.30 17 6/1/2037 - 5/31/2038 $0.5846 $75,890.40 $6,324.20 18 6/1/2038 - 5/31/2039 $0.6021 $78,162.24 $6,513.52 19 6/1/2039 - 5/31/2040 $0.6202 $80,511.84 $6,709.32 20 6/1/2040 - 5/31/2041 $0.6388 $82,926.48 $6,910.54 1 10/1/2023 6/1/2041 - 9/30/2024 0.2410 5/31/2042 $11,714.52 0.6580 $976.21 85,418.88 $7,118.24 2 10/1/2024 6/1/2042 - 9/30/2025 0.2434 5/31/2043 $11,831.64 0.6777 $985.97 87,976.32 $7,331.36 3 10/1/2025 6/1/2043 - 9/30/2026 0.2458 5/31/2044 $11,949.96 0.6980 $995.83 90,611.52 $7,550.96 4 10/1/2026 6/1/2044 - 9/30/2027 0.2483 5/31/2045 $12,069.48 0.7189 $1,005.79 93,324.72 $7,777.06 5 10/1/2027 6/1/2045 - 9/30/2028 0.2508 5/31/2046 $12,190.20 0.7405 $1,015.85 96,128.76 $8,010.73 6 10/1/2028 6/1/2046 - 9/30/2029 0.2533 5/31/2047 $12,312.12 0.7627 $1,026.01 99,010.68 $8,250.89 7 10/1/2029 6/1/2047 - 9/30/2030 0.2558 5/31/2048 $12,435.24 0.7856 $1,036.27 101,983.44 $8,498.62 8 10/1/2030 6/1/2048 - 9/30/2031 0.2584 5/31/2049 $12,559.56 0.8092 $1,046.63 105,047.16 $8,753.93 9 10/1/2031 6/1/2049 - 9/30/2032 0.2610 5/31/2050 $12,685.20 0.8335 $1,057.10 108,201.60 $9,016.80 10 10/1/2032 6/1/2050 - 9/30/2033 0.2636 5/31/2051 $12,812.04 0.8585 $1,067.67 11 10/1/2033 - 9/30/2034 0.2662 111,447.00 $12,940.08 $1,078.34 12 10/1/2034 - 9/30/2035 0.2689 $13,069.56 $1,089.13 13 10/1/2035 - 9/30/2036 0.2716 $13,200.24 $1,100.02 14 10/1/2036 - 9/30/2037 0.2743 $13,332.24 $1,111.02 15 10/1/2037 - 9/30/2038 0.2770 $13,465.56 $1,122.13 16 10/1/2038 - 9/30/2039 0.2798 $13,600.20 $1,133.35 17 10/1/2039 - 9/30/2040 0.2826 $13,736.16 $1,144.68 18 10/1/2040 - 9/30/2041 0.2854 $13,873.56 $1,156.13 19 10/1/2041 - 9/30/2042 0.2883 $14,012.28 $1,167.69 20 10/1/2042 - 9/30/2043 0.2912 $14,152.44 $1,179.37 Facility Rent is defined as that rent due and payable to the LESSOR by the LESSEE for the structures, and appurtenances thereto, upon the Land as measured from the outer-most vertical surfaces of the structures as set forth and shown on the attached Exhibit “A”. Facility Rent for all facilities shall commence on May 1, 2032 and shall be set at the then-current market rent of such facilities, structures, fixtures and improvements as determined by a single independent third-party licensed and accredited commercial property appraiser with aviation and airport property market experience. The appraiser shall be selected by agreement of the Parties.9,287.25
Appears in 1 contract
Sources: Use and Lease Agreement
Land Rent. Land Rent is defined as that rent due and payable to the LESSOR by the LESSEE for the Land, as measured from the outer-most limits of the leased property Premises as set forth and shown on the attached Exhibit “A”. Upon Commencement Date of this Agreement, LESSEE shall pay Land Rent to LESSOR as follows: 1 10/1/2023 4/1/2022 - 9/30/2024 0.2410 3/31/2023 $11,714.52 0.4182 $976.21 31,155.48 $2,596.29 2 10/1/2024 4/1/2023 - 9/30/2025 0.2434 3/31/2024 $11,831.64 0.4266 $985.97 31,781.28 $2,648.44 3 10/1/2025 4/1/2024 - 9/30/2026 0.2458 3/31/2025 $11,949.96 0.4351 $995.83 32,414.52 $2,701.21 4 10/1/2026 4/1/2025 - 9/30/2027 0.2483 3/31/2026 $12,069.48 0.4438 $1,005.79 33,062.64 $2,755.22 5 10/1/2027 4/1/2026 - 9/30/2028 0.2508 3/31/2027 $12,190.20 0.4527 $1,015.85 33,725.64 $2,810.47 6 10/1/2028 4/1/2027 - 9/30/2029 0.2533 3/31/2028 $12,312.12 0.4618 $1,026.01 34,403.64 $2,866.97 7 10/1/2029 4/1/2028 - 9/30/2030 0.2558 3/31/2029 $12,435.24 0.4710 $1,036.27 35,089.08 $2,924.09 8 10/1/2030 4/1/2029 - 9/30/2031 0.2584 3/31/2030 $12,559.56 0.4804 $1,046.63 35,789.28 $2,982.44 9 10/1/2031 4/1/2030 - 9/30/2032 0.2610 3/31/2031 $12,685.20 0.4900 $1,057.10 36,504.48 $3,042.04 10 10/1/2032 4/1/2031 - 9/30/2033 0.2636 3/31/2032 $12,812.04 0.4998 $1,067.67 37,234.56 $3,102.88 11 10/1/2033 4/1/2032 - 9/30/2034 0.2662 3/31/2033 $12,940.08 0.5098 $1,078.34 37,979.64 $3,164.97 12 10/1/2034 4/1/2033 - 9/30/2035 0.2689 3/31/2034 $13,069.56 0.5200 $1,089.13 38,739.48 $3,228.29 13 10/1/2035 4/1/2034 - 9/30/2036 0.2716 3/31/2035 $13,200.24 0.5304 $1,100.02 39,514.32 $3,292.86 14 10/1/2036 4/1/2035 - 9/30/2037 0.2743 3/31/2036 $13,332.24 0.5410 $1,111.02 40,303.92 $3,358.66 15 10/1/2037 4/1/2036 - 9/30/2038 0.2770 3/31/2037 $13,465.56 0.5518 $1,122.13 41,108.52 $3,425.71 16 10/1/2038 4/1/2037 - 9/30/2039 0.2798 3/31/2038 $13,600.20 0.5628 $1,133.35 41,928.00 $3,494.00 17 10/1/2039 4/1/2038 - 9/30/2040 0.2826 3/31/2039 $13,736.16 0.5741 $1,144.68 42,769.92 $3,564.16 18 10/1/2040 4/1/2039 - 9/30/2041 0.2854 3/31/2040 $13,873.56 0.5856 $1,156.13 43,626.60 $3,635.55 19 10/1/2041 4/1/2040 - 9/30/2042 0.2883 3/31/2041 $14,012.28 0.5973 $1,167.69 44,498.28 $3,708.19 20 10/1/2042 4/1/2041 - 9/30/2043 0.2912 3/31/2042 $14,152.44 0.6092 $1,179.37 Facility Rent is defined as that rent due and payable to the LESSOR by the LESSEE for the structures, and appurtenances thereto, upon the Land as measured from the outer-most vertical surfaces of the structures as set forth and shown on the attached Exhibit “A”. Facility Rent for all facilities shall commence on May 1, 2032 and shall be set at the then-current market rent of such facilities, structures, fixtures and improvements as determined by a single independent third-party licensed and accredited commercial property appraiser with aviation and airport property market experience. The appraiser shall be selected by agreement of the Parties.45,384.84 $3,782.07
Appears in 1 contract
Sources: Use and Lease Agreement
Land Rent. Land Rent is defined as that rent due and payable to the LESSOR by the LESSEE for the Land, as measured from the outer-most limits of the leased property Premises as set forth and shown on the attached Exhibit “A”. Upon Commencement Date of this Agreement, LESSEE shall pay Land Rent to LESSOR as follows: 1 10/1/2023 10 4/1/2031 - 9/30/2024 0.2410 3/31/2032 $11,714.52 0.4998 $976.21 2 10/1/2024 37,515.48 $3,126.29 11 4/1/2032 - 9/30/2025 0.2434 3/31/2033 $11,831.64 0.5098 $985.97 3 10/1/2025 38,266.08 $3,188.84 12 4/1/2033 - 9/30/2026 0.2458 3/31/2034 $11,949.96 0.5200 $995.83 4 10/1/2026 39,031.68 $3,252.64 13 4/1/2034 - 9/30/2027 0.2483 3/31/2035 $12,069.48 0.5304 $1,005.79 5 10/1/2027 39,812.40 $3,317.70 14 4/1/2035 - 9/30/2028 0.2508 3/31/2036 $12,190.20 0.5410 $1,015.85 6 10/1/2028 40,608.00 $3,384.00 15 4/1/2036 - 9/30/2029 0.2533 3/31/2037 $12,312.12 0.5518 $1,026.01 7 10/1/2029 41,418.60 $3,451.55 16 4/1/2037 - 9/30/2030 0.2558 3/31/2038 $12,435.24 0.5628 $1,036.27 8 10/1/2030 42,244.32 $3,520.36 17 4/1/2038 - 9/30/2031 0.2584 3/31/2039 $12,559.56 0.5741 $1,046.63 9 10/1/2031 43,092.48 $3,591.04 18 4/1/2039 - 9/30/2032 0.2610 3/31/2040 $12,685.20 0.5856 $1,057.10 10 10/1/2032 43,955.76 $3,662.98 19 4/1/2040 - 9/30/2033 0.2636 3/31/2041 $12,812.04 0.5973 $1,067.67 11 10/1/2033 44,833.92 $3,736.16 20 4/1/2041 - 9/30/2034 0.2662 3/31/2042 $12,940.08 0.6092 $1,078.34 12 10/1/2034 45,727.20 $3,810.60 21 4/1/2042 - 9/30/2035 0.2689 3/31/2043 $13,069.56 0.6214 $1,089.13 13 10/1/2035 46,642.92 $3,886.91 22 4/1/2043 - 9/30/2036 0.2716 3/31/2044 $13,200.24 0.6338 $1,100.02 14 10/1/2036 47,573.64 $3,964.47 23 4/1/2044 - 9/30/2037 0.2743 3/31/2045 $13,332.24 0.6465 $1,111.02 15 10/1/2037 48,526.92 $4,043.91 24 4/1/2045 - 9/30/2038 0.2770 3/31/2046 $13,465.56 0.6594 $1,122.13 16 10/1/2038 49,495.20 $4,124.60 25 4/1/2046 - 9/30/2039 0.2798 3/31/2047 $13,600.20 0.6726 $1,133.35 17 10/1/2039 50,486.04 $4,207.17 26 4/1/2047 - 9/30/2040 0.2826 3/31/2048 $13,736.16 0.6861 $1,144.68 18 10/1/2040 51,499.32 $4,291.61 27 4/1/2048 - 9/30/2041 0.2854 3/31/2049 $13,873.56 0.6998 $1,156.13 19 10/1/2041 52,527.72 $4,377.31 28 4/1/2049 - 9/30/2042 0.2883 3/31/2050 $14,012.28 0.7138 $1,167.69 20 10/1/2042 53,578.56 $4,464.88 29 4/1/2050 - 9/30/2043 0.2912 3/31/2051 $14,152.44 0.7281 $1,179.37 Facility Rent is defined as that rent due and payable to the LESSOR by the LESSEE for the structures, and appurtenances thereto, upon the Land as measured from the outer-most vertical surfaces of the structures as set forth and shown on the attached Exhibit “A”. Facility Rent for all facilities shall commence on May 1, 2032 and shall be set at the then-current market rent of such facilities, structures, fixtures and improvements as determined by a single independent third-party licensed and accredited commercial property appraiser with aviation and airport property market experience. The appraiser shall be selected by agreement of the Parties.54,651.96 $4,554.33 30 4/1/2051 - 3/31/2052 $0.7427 $55,747.80 $4,645.65
Appears in 1 contract
Sources: Use and Lease Agreement