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HomeMy WebLinkAbout902400UCC FINANCING STATEMENT FOLLOW INSTRUCTIONS Ifront and backl CAREFULLY A NAME & PHONE OF CONTACT AT FILER [optional] B. SEND ACKNOWLEDGMENT TO: IName and Address) Tr~HE BANK OF STAR VALLEY THAYNE BRANCH P.O. BOX 928 113 PETERSEN PARKWAY THAYNE, WY 83127 RECEIVED L NCOL_N COUNTY CL. ERK I · DEBTOR'S EXACT FULL LEGAL NAME - insert only one debtor name (la or lb) - do not abbreviate or combine names I la. ORGANIZATION'S NAME OR J lb. INDIVIDUAL'S LAST NAME FIRST NAME MIDDLE NAME I HEINER THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY G Jsumx STATE POSTAL CODE COUNTRY WY 83126 lg. ORGANIZATIONAL ID ~, if any MARK lc. MAILING ADDRESS CITY P 0 BOX 63 SMOOT Id. TAX D J: SSN OR EIN I ADD'LINFO RE J lo. TYPE OF ORGANIZATION lf. JURISDICTION OF ORGANIZATION ORGANIZATION ' I DEBTOR J '2. ADDITIONAL DEBTOR'S EXACT FULL LEGAL NAME - insert ChiV one debtor name (2a or 2b) - do not abbreviat 2a. ORGANIZATION'S NAME OR J2b. INDIVIDUAL'S LAST NAME FIRST NAME I 2c. MAILING ADDRESS CITY 2d. TAX ID ,: SSN OR EIN I ADD'L INFO RE J2e. TYPE OF ORGANIZATION 2f. JURISDICTION OF ORGANIZATION I ORGANIZATION- 3. SECURED PARTY'S NAME lot NAME of TOTAL ASSIGNEE of ASSIGNOR S/P) - insert only once secured party name 13a or 3b) 3a, ORGANIZATION'S NAME I THE BANK OF STAR VALLEY TI-IAYNE BRANCH OR 3b. INDIVIDUAL'S LAST NAME FIRST NAME or combine names [] NONF IMIDDLE NAME J SUFFIX STATE JPOSTAL CODE COUNTRY I 2g. ORGANIZATIONAL ID #; if any [] NONE I JMIDDLE NAME ISUFFIX 3c. MAILING ADDRESS CITY ISTATE JPOSTAL CODE COUNTRY P.0. BOX 928 THAYNE 'J WY'J 83127 4, This FINANCING STATEMENT covers the following collateral: I I ASSIGNMENT OF REAL PROPERTY LEASE AGREEMENT BETWEEN MARK HEINER, LESSEE, AND AFTON-LINCOLN COUNTY ABORT JOINT POWERS BOARD, LESSOR FOR HANGAR # 16 5. ALTERNATIVE DESIGNATION [if applicable]: [] LESSEE/LESSOR [] CONSIGNEE/CONSIGNOR [] BAILEEtBAILOR [] SELLER/BUYER [] AG. LIEN [] NON-UCC FILING 6. E~ This FINANCING STATEMENT is to be filed [for record] (or recorded in the REAL J 7. Check to REQUEST SEARC REPORT/S) on Debtor sJ 8. OPTIONALESTATE RECORDS.FiLER REFERENcEAttach AddendumDATA Elf aj~p cab e] [ADD TONAL FEE] [oj~tiona ~ Ail Debtors [~] Debtor 1 [] Debto~ ? Bankers Systems, Inc,, St, Cloud, MN Form UCC*I-LAZ 5/30/2001 FILINGOFFICE COPY -- NATIONAL UCC FINANCING STATEMENT (FORM UCCll (REV. 07/29/98) ASSIGNMENT ';' ~' OF REAL PROPERTY LEASE AGREEMENT 0.3, 9 O~O~qCO LOCATED AT THE AFTON- LINCOLN COUNTY AIRPORT ASSIGNMENT OF REAL PROPERTY LEASE AGREEMENT between AFTON - LINCOLN COUNTY AIRPORT JOINT POWERS BOARD ("Lessor"), MARK HEINER ("Lessee"), and THE BANK OF STAR VALLEY (Successor Lessee"). WHEREAS, on June 19, 2002, Lessor entered into a REAL PROPERTY LEASE AGREEMENT ("Lease") with Lessee, a copy of which is attached hereto and incorporated herein by reference; and WHEREAS, under Paragraph 14 of said Lease, the Lease is assignable, subject to the prior written consent of Lessor, which consent shall not be unreasonably withheld; and · WHEREAS, Lessee desires to assign the Lease to Successor Lessee; and WHEREAS, Lessee has requested that Lessor consent to the Lessee's assignment of the Lease to Successor Lessee; and WHEREAS, Lessor has agreed to consent to the requested assignment of the Lease to Successor Lessee. NOW, THEREFORE, for the mutual promises contained herein, and for other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto agree as follows: 1. CONSENT TO LEASE ASSIGNMENT. Lessor hereby consents to Lessee's assignment of the Lease to Successor Lessee, agrees further to be bound to Successor Lessee for all of Lessor's obligations in the Lease, and grants to Successor Lessee all of Lessor's rights under the Lease. 2. LEASE ASSIGNMENT. Lessee hereby assigns Lessor's rights and obligations under the Lease to Successor Lessee. ASSIGNMENT OF REAL PROPERTY LEASE AGREEMENT PAGE 1 OF 3 3. ACCEPTANCE OF LEASE ASSIGNMENT. Successor Lessee hereby accepts Lessee's assignment of the Lease and agrees to be bound to Lessor for all of Lessee's obligations under the Lease. 4. ADDRESSES. The addresses for notices in Paragraph 25 of the Lease are hereby amended to read as follows: Afton - Lincoln County Airport Joint Powers Board P.O. Box 1181 Afton, Wyoming 83110. The Bank of Star Valley P.O. Box 8007 Alton, Wyoming 83110 DATED this day of August, 2004. LESSOR: BY: AFTON - LINCOLN COUNTY AIRPORT JOINT POWERS BOARD CHAD BURTON CHAIRMAN STATE OF WYOMING ) ) SS. COUNTY OF LINCOLN ) ACKNOWLEDGED before me by CHAD BURTON, Chairman of the Afton - Lincoln County Airport Joint Powers Board, for and on behalf of said Board pursuant to authority provided to him by said Board, this/c') day of August, 2004. WITNESS my hand and official seal. My Commission exPires: ,.--"/NOTARY PUBLIC ASSIGNMENT OF REAL PROPERTY LEASE AGREEMENT PAGE 2 OF 3 LESSEE: STATE OF WYOMING ) ) ss. COUNTY OF LINCOLN ) ACKNOWLEDGED before 2004. me MARK HEINER by MARK HEINER this ~ day August, WITNESS my hand and official seal. COUNTY OF [/l~l~,'~ STATE OF (( LINCOLN ~ WYOMING II My commission expires: ¢XR-Y PUBLIC - -' SUCCESSOR LESSEE: THE BANK OF STAR VALLEY, a Wyoming Banking Corporation BY: // 'PRESIDENT-' .~.. STATE OF WYOMING ) ) ss. COUNTY OFLINCOLN ) ~ O~~t~~.~ ~].~~ ACKNOWLEDGED before me by ~OD R. ~NSEN, President of The Bank of Star Valley, a Wyoming Banking Corporation, for and on behalf of said Corporation pursuant to authority Provided to him by said Corporation, this ]~ day of August, 2004. WITNESS my hand and official seal. My Commission expires: o~/2-Y' [ 0 ?' NOTARY PUI~C ASSIGNMENT OF REAL PROPERTY LEASE AGREEMENT PAGE 3 OF 3 CLARA JENSENAi~OTARY PUBLIC County of t~ State of Lincoln ~ Wyoming My Commission Expires March 25, 2007 07/26/2004 23:14 3078830002 ;:¥...~': - ~5"'.'" BANK OF STAR VALLEY PAGE 02 REAL PROPERTY LEASE AGREEHENT LOCATED AT THE AFl'ON- LINCOLN COUNTY AGREEMENT to be e~lve on the / ~ da7 of ~, ~ , b7 and ~en the ~0 - ~;'.?.)LINCOLN COUN~ ~ORT JOINT ~WE~ BOA~, hereina~er referred to as Lessor', and, ?~:~/4 t, ~ ~e ," ,'~4 ,, hereinafter referred to as 'Lessee'. ~8[~ Lessor ~s ~ le~l own r of cem~n real pro~y ~own as the ~on - Lincoln Coun~ WHERE~ Lessee is ended in aviadon ~iemd a~vifies and desi~s m lease ground s~ce and use ' W~[R~$ kesmr is willing to Ieee to ~essee a ~on o~ ~iO ai~ premims t~er with .¢g:.... ,~,~ and privileges ~ ace set fo~ in the ~me~nt: ?i~3/'i:-. IN CONSIDEI~TION of the mutual covenants and oblif~ions contain.ed herein, the parties hereto ~!i.!.. mutual y agree as follows: ' ':~i?" I. Lease of Real Property. Lessor hereby leases to Lessee, subject to the conditions hereinafter ~[?" set brth, that. certain parcel of real property located in Lincoln County, Wyoming, said property being more ~,~:.'. ,, · ~!i ' particularly described on Exhibit A to be attached hereto and by this reference .made a part hereof, which ~;'.. . ~3". property constitutes a portion only of the A~ton - Lincoln County Airport property, (the 'Leased Premises'), I~!;.". .,,,.... 3. Leased Premises, Lessor hereby leases.to Lessee the Leased Premises as parti~:ularly Ii!:' described herein. ;The Leased Premises shall be deemed appurtenan~ to the hangar unit and may not be : transferred, conveyed sublet, assigned, .hypothecated, or otherwise disposed of without the co6cuCrent or companion transfer, assignment, or conveyance of the hangar unit. 2. .Purl:x~e. This lease is based upon Lessee's representation that Lessee' shall c4cupy the leased premises and construct or install and then continuously maintain' a'private maintenance airplane hanger,. approximately ~ square feet in size, ' .. 87/26/2884 23:14 3078830002 BANK OF STAR VALLEY PAGE 03 Lessee is hereby granted the use, in common with others similarly authorized, of the airpoCt ;,;!..:comrnon facilities, equipment, improvements and services including roadways, runways, aprons, ~ ways, lights, landing lights, beacons, control tower, signals, radio aids, and all other conveniences for flying, .Iandings, and take offs, Us~_e of AJrporl;. In addition to the rights and privileges specified in the immediately preceding 00"? 3,.. 5. Conditions. Lessee's right to occupy the above-described premises shall be subject to the conditions: (a)' Lessee shall comply with-all rules, regulations and orders promulgated by the Federal rdon Administration. (b) Lessee shall comply with all laws of the State of Wyoming. (c) Lessee shall comply with all laws, rules and regulations, or code of or~tinances of the Airport as the same now exists or as may be amended in the future. Provided however, that such ~gulations do not abrogate the purpose of this lease. the ~dway. :: (d) Lessee shall construct and maintain, at his sole expense, an access to the hangar from (e) All plans and designs for an airplane hang-ar, building or other structure shall be subject to )riot re,view and approval by the Afton Airport Board, which shall not be unreasonably withheld. (0 Within twelve (I 2) months of the date of this ~reement, Lessee shall submit to the '.Alton Airport Board Cthe Board") all plans, designs, drawings, etc. showing the improvement to be made to premises. The Board shall approve or reject the plans within two (2) months a~r receipt of the Lessee's designs, drawing, etc. (g) Within twelve (I 2). months after approval by the Board, Lessee shall begin construc'don · of the. improvements. Term of Lease. Subject to earlier termination as herea~r provided, the term of this agreement shall be for a period of ' ,A//~) .... years, commencing on the _/~ day of..cJ"~z'~e 2 87/26/2884 23:14 3878838882 BANK OF STAR VALLEY i':g!:;!;;., nd ending on the [~_ day of ~.~ ,20 . Upon the expiration of sa~d term, Lessee shall ~;;'~:.. ~ · . . ~'r;'""?:have ~e tim option to renew this lease for such a length oftim~ and under such conditions as may be mutually ~i!::?agceed upon by the pa~es, . ['~:.~.:': . . ,.'.4'.-'.-~.: . · i(!i.!:. · 7. Lease Rent,a[. Lessee shall pay to Lessor, as and for rental of the above-descrrbed premises, an "i-'.',!,(~;.,annual rental fee as follows; based upon a beginning E~ght Cents (.08¢) per square fc~t per lot. Eve~ five ? 'yearsthe rental amount would increase One Cent (.01 ¢) per square [oX to a maximum of Fourteen ~:'~ Ceats (. 14~t) per square foot, For the first five (5) years that this lease shall t~ in effecL lessee shall pay the ~!:;~i' sum of_!--,/~DO .,57 '.~... · O ~",J. ($~_~_. ~.--), payable annually in advance on the first day of each !!i~i.'~ar for said five (5) yea~- I~eriod' For the second five (5) year period, said annual rental shall be ',:f?.. . ~,,?..~::;. , O ~ ,g ~o'~" .($ ~'?~...,~_) per year; for the third five (5) year period, said annual rental !~ii:~i~'.i shall be ,/~ d ~,~t~ ($~/-/~O ~ per year; for the fourth five (5) year pedod, s~id annual mr~l shall be ~ . ~nnual rental shall be __. '/?. ~. ',]' pedod, said annual ren~ shall be !ii:: year period, said annual rental shall be ,/~,~ ,~.,~',_-~ ~.i! five (5) year period, said annual rental shall be ($~__~.~..~ per year; for the fifth five (5) year period, said _~(~_~_.~ ($ ~o/-/'.~ per year; for the sixth five (5) year , 1c7¥' -~. a~_'~~ ($_,~' ,~.~_) per year; for the seventh five (S) ($~'~.__~ per year; and for the last . ($~--~'~_) per year. Rent i~ymems shall be made to the order of the Board and shall be sent or delivered to Lessor at 416 W~shington, P.O. Box 1181, A~on, ~ 831 I0, or such other Ioc~tion as Lessor shall designate. All rent not paid within thirLy (30) days of the due date shall acci'ue interest at the rate often percent (1096) per annum until paid in full. Any rent which is due and unpaid at the expiration, termination or cancell~ion of this lease shall constitute ~ charge against the Lessee. 8. Permitted Uses. The leased premises may be used to park or store aircraft and such 'equipment and rn~teriats used for aircraft operation and maintenance as are not prohibited by this Lease. Any and all uses of the a~rcral~, equipment, and rr~terials must conform to applicable Town of A/~bn ordinances, laws. ~nd re~ulatJons of the Stme of Wyoming and federal rules and regulations. Upon written approval of the Lessor, Leasee may conduc~ an aviation-related business upon the leased premises. 9. Prohibited Activities. ]'he following activities are prohibited on the Leased Premises: ' may be tempo~rily parked in the hangar while it is not in use for the storage of aircraft, PAGE 84 OO,.: 4 07125/2004 23:14 ...... (b) !:'.,}'.weldun8 or open flame. 3078830002 B~NK OF ST~R V~LLEY P~GE 05 Use or stooge of explosive, radioactive, or toxic materials, and activities involving Fuel and oil may be stored in the tanks of aircraft, ground vehicles, and aircraft towing '!~i}..d4vides, and oil may be stored in unopened containers. ,~..:;.:. · (c) Unless specifically authorized in writing by the Lessor, the sale of aviation fuel or ,i.~;.,.:. ~ };:..lubricating ti On the premi;es is prohibited. i.?t :- ,~.:.: (d) Unless specifically authorized in writing by the Lessor, commercial repairs or ~,,..,..mmntenance to aircraft, vehicles or equipment, except for preflight inspection, exterior polishing, interior ;~"':i:~"~' ' ' ' i ' ' ' ' tq.~:.~::..dean~ng, repairs b7 owner perm tted b7 ~art 43 of the federal Awat~on R~gulatlons, (e) All activities that are illegal Under the laws of the State of Wyoming or the United States }!ii:..!}:i'.Or that. create a hazard to the health, safety and welfare of persons, property, or the environment. 10. Taxes, Assessments and UfilitJes, Lessee shall pay any and all taxes or: special assessmems ........[~.,..~4~,¢h.. may be lewed or assessed aga~n~ an7 personal propert-/of the Lessee or ~mprovements placed on the -?..~,c.,.'..~. · r e '' ~:,.,:;.,., ,....:.., .,.,leased prern,ses. Lessee further ag e s to pay all charges for e ectnoty, water, sewer, telephone and other ~ ~.~-,:,.,..: .... , , . ~;~::.~ utility ser~ces used on the leased prem~sea. Such charges also ~nclude the hook up and delivery of those i~ii}}', utilities to and upon the le~sed property. LessOr shall pay any and all real property taxes, or special 'i~iii!!~.assessments which may ~ leVied or assessed against the leased premises. I 1, Indemnification. Lessee a~rees.to indemnify, defend and hold Lessor and its officers, ~?'~{.'..emploTees and agents harmless from all I~abl~ty [or ~nlunes to persons or damage to propert7 caused by the !~ii~i.. ne~igerrt use or rx:¢upanc'7 of the premises b7 Lessee, Lesse~'s agents or Lessee's employees, including ~..':~' ~ . . . , ~{~8..mthout hm~on, damages and reasonable attormy s fees. 12. Liens. Lessee shall not permit any mechanic's lien, material man's lien or other liens to attach i..~"';~::;'...to the premises. ;;,,2~:5'.: . ~,'.'..,.... ~.,.j,~.~ . · , I ~. Acceptance of Leased Prem ses. Lessee accepts the Lease0 Premises ~a an 'as is' Dasis. :':il. ' ..... ~...:~ Lessor disclaims, and Lessee accepts the disclaimer, any warrant,/, express or implied, reg-ardi~g condition, use ';q' . ~) :.;...!..' r fitness of the kea~ed ?remises, Lessor provides this lease with the understanding that leased pr~mises is ~:':!~: ..suitable for its use as an airplane hangar, ?!i'!il'' 14. Assignment and Sublease, Lessee shall not at any time assign its rights under this agreement or · ,,.,...,,:r any part thereof without the prior written consent of Lessor, Which conse~ shall not be unreasonabl7 withheld, 4 0?/26/2004 23:14 3070830002 BANK OF STAR VALLEY PAGE 06 ~Lessee may sublease all or ~ of thc .hangAr with pnio~ wri~en appro~l o~ ~e Lesson a co~tion or pa~ne~hip, and if at any ti~ durin~ ~e term of ~;s Lea~e any change ~{~including ~itho~ limi~tion, admission o~ new pa~ne~, withd~l of ew~ing pa~e~, or ~nsfe~ c~te shares, whe~er ~uch changes result by sale, a~sign~nt, ope~tion of law or ~he~ise, Such a : shall be dee~d an ~signment wi~in the terms and conditions of this Lease. 15, !nsurance. Lessee assumes all risk of damage to or loss of the hangar placed on the Leased ~?.~ , . . ifi;:'..'iPremises and its contents. Lessee shall procure and maintain ~n force ~nsurance covenng the leased premises, ~-~i~¢i; !an im rovements thereon and Lessee'$ activities thereon Lessor shall be furnished with copies ofatl ~?;.: Y P . [ili!'.:':insurance policies obtained by Lessee in compliance with this requirement within six (6) months following the ~i[;ii!i::'!i comp etion of the arp. ane hangar. Lessee agrees to notify Lessor in writing as to any amendment to or ~!;? :.c~ncelladon of such polioes w~th~n thirty (30).days from the date of amendment or cancellation. Iii;ii''. 16, ! _nspecfion by Lessor, Lessor reserves ~e right to enter upon the premises to inspect the same ¢¢!i:~: and Lessee's activities. Any s~h inspection shall be coordinated with Lessee and conducted in such a manner [~ii!~':'As'to minimize interference with Lessee's activities and schedule, li!!~;!i"' 17.. ,Waive~r. Lessee waives all claims against Lessor for damage to goods or for'injuries to persons ~'.: on or about the Leased Premises from any cause arising at any time, Lessee hereby indemnifies Lessor ih ;. excess of and only for matters not actually covered by polities of insurance required to be maintained in force !'ii by Lessee hereunder on account of any damage or injury to any person, or to the goods and property of' any t. person, arising from the use of the Leased Premises in good condition as provided herein, ~:.'.i... 18, Maintenance of..Premises. During the term of this Lease, the Lessee shall, az his expense, ':.". rnain~ain the premises and all improvements in a dean, orderly and safe condition in accordance with :'.acceptable industry practice. All structures on the premiss must be painted, finished, or covered wi~h a ':(. i~rmanent exterior surface and must be maintained by the Lessee at his sole cost and expense; 19. Default or Breach, Each of'the following events shall constitute a deP~ult or breach of this lease by .Lessee: (a) If Lessee shall fail to pay Lessor any rent when said rent shall become due And shall not .make the payment within sixty (60) days after' written notice thereof by Lessor to Lessee. (b) If Lessee shall fail to perform or comply with any of the conditions ofthis lease and if the 'nonperformance shall continue for a period of sixty (60) days after written notice thereof by Lessor to Lessee. 0?/26/2004 23:14 3878838082 BANK OF STAR VALLEY PAGE 07 ,;:?.... 0 '~;~..~.;:. .~ .:~ .. ,~!i:::F'. (c) If Lessee shall vacate or abandon the demised premises, or ~f the premises shall pass or ii?'idevolve upon any person or party other than Lessee s hews, legal representaWes, successors and assigns, '~?i~!:'.except in the manner herein permitted. ' i! '.?.' .. - 0 :., ~'iii:' (d) If Lessee shall use or allow the use of the demised premises for any other purpose than ¢i?~:.specifically stated herein without the prior written consent of the Lessor. ~-4'::" 20. Effect of Default and Termination. In the event of any default by Lessee, as defined above, ~.: .':. !~11::i; 'Lessor shall have the right to cancel and terminate this lease as well as all of the right, title and interest of Lessee %~'.~... i?;!~!!~heceu, nder, by giving to Lessee not less than ninety (90) days written notice of the cancellation and termination. ~i'!i?:,.'.:On expiration of the time f~xed in the notice, this lease and the right, ~le and interest of Lessee hereunder, ~.~?::, . . ~:~..~?:;shall terminate in the s,~ne manner and w~th the same force and effect as if the date fixed in the notice of ~'iij'".':~ancellation and termination were the end of the term herein originally determined, Upon termination, Lessee ~?~':!~hall not be entitled to receive a refund of any portion of the'annual rent paid for any year in which the lease is ~ii::!.?terminated, said amount being determined by'the parties to be the reasonable amount to be reta ned by ~i;';Less°r as liquidated damages. Except as may be otherwise agreed by ~e p~rtles, ~11 buildings, hangars, !~:,i~!?~ructures, improvements, equipment, and any other property bou§ht, installed, erected, or p aced by Lessee ,.~.'.. ~.,~' , '~:.',fi".'~4?'i;c": .."in or about the airport or the premises eased, hereunder shall be deemed to be the property of Lessee and ~.i!i~?~shall be removed from the demised premises within n nety (90) days a~te- the date of termination Unless ~.. , . , !!~'?:.i?.:.~dditional time is granted by Lessor, any and all such property not removed by Lessee within said nlnety (90) !??'day period after expiration or termination of this lense shall become part of the land upon which it is located ~..;.~;:L':': ~..,..:t)..:.and ~itle thereto shall thereupon vest in Lessor. ~!i'!'';'~:2 I. Reservation o~ Rights to Lessor. LesSor reserves the following rights and prlvileges: ~'..'-'F ' · ~;;,~ ..'.~-. . ~:!!i.:i.: (a) The right to develop, further improve, maintain and repair the airport: e×dusive of ~i!ii!?,leased areas, as it sees.fit, The Lessor agrees to coordinate these improvements at the airport with Lessee in. ~?.:order to ~nsure as small a d~sloc~tion or d~srupt~on of activity as poss~bte. The Lessor reserves the right to d~mct ~!i?~'L,and control the above activities. (...~... (b) The right and ability to provide for maintenance and snow removal adjacent to the ~(i.'. hangar. The Lessor shall not be liable for any damage to the hangar or leased premises resulting from such i:ii'".aL---tivities, unless such damage is a result of gross negligence, or willful or wanton misconduct by the Lessor, h s ;','i'i~i; i'agent or employees. 6 (c) The right to take an), action it deems necessary to protect the area against obstruction, .~r with the right to prevent the Lessee from erecting or permitting to be erected an), building or on the airport which in the opinion of the Lessor would imit the usefulness of the airport or const~ hazard to aircraft. (d) The right to temporarily dose the airport or any f~cility or part thereof for maintenance or for the safety of the public without liability to the Lessee, The Lessor agrees to coordinate closing with Lessee in order to ~nsure as small a dislocation or disruption or activity as possible. (e) It is understood and agreed that the Lessor has the right in its sole discretion, at Lessor's to move the fadlities of Lessee upon the premises to a new location on said airport property at such dudng the existence of this lease that changed conditions may require In that event, Lessor agrees to Lesse~ with a new location and ¢acilities that would be comparable to Lessee's leased area and at the time of the move. Lessor further agrees to provide Lessee with a new lease agreement for the location upon the same terms and conditions as are contained herein for the unexpired term of the lease 22. Disposition of ImDroveme.n~. At the expiration, termination or cancellation of this lease or any thereof improvements or other property, real or personal, owned by the Lessee on the leased i.':premises: ,:,. (a) Shall be removed from the premises by the Lessee at no cost to the Lessor within a period, of ninet7 (90) days from said expiration, termination or cancellation .unless additional time ~s granted by Lessor and Tenant shall repair the land back to its original state before the improvements were ; or (b) At Lessor's option, tide to such improvements shall be transferred to the Town of (c) May be sold to a third party with whom the Lessor has consented to or in fact has ~!.~....:...:entered into a lease agreement, ;~.'.- ' 23. Condemnation. In the event that the leased premises are condemned, the term of this lease !~:;"vcill'end on the date th.at the Lessee is required to surrender possession of the premises. Moreover, the Lessee ~hall be entitled to compensation commensurate with the ~air market value of any improvements made on the premises by the Lessee. 87126/2884 23:14 3878838882 BANK OF STAR VALLEY PAGE 89 090, 400 ,.,:"?" '; 24, _Attorney's, . Fee~, In the event that Lessor is required to take any legal action of whatever kind ~i?br nature in order to enforce any term or condition Of this lease, Lessee may be responsible for any and all "'~i-;.~ and expenses or part thereof, including a reasonable attorney's fees provided the Lessor is adjudged by i!i~he .Court as the prevailing party. B:'i -', 25. Notices. Any notice required by this agreement shall be hand-delivered or sent by registered ~..:.~!:Oi'. certified mail with return receipt confirmadon to the appcop6ate par-t,/at the address set forth below, or to iilany other address which the parties may designate in writing: ' !:?Lessor: Alcon- Lincoln County Airport Lessee: .,,..~. Joint Powers Board ,.~.: .ma~l return receipt has been signed by the receiving part,/, i!.' 26, ~Ap_.proval ~_,/Lessor. Any appcogal required of Lessor by the terms of this lease shall aot be ?i::unreasonably withheld. 2?' :";" 27. Total A~ree~ent; Successors. Thi~ lease contains the entire agreement bet~veen the parties Notice shall be deemed given on the date actually served by hand or on the date on which the certified' ~!:!;;'.~.d cannot be changed or modified except by a written instrument of consent agreed to and signed by the  party against whom enf~rcemeat is sought. This lease and the term and conditions thereof apply to and shall · :be biading on the heirs, legal rePr~sentadves, successors and assigns of Ix>th pa~es. ,:t,.~'.?: .... ~ Prior r nts T eta ii!~'ii:..." 28. _. Ag eeme ,. his leas kes the place of, for all purposes, any contracts, leases and t~.~:~,.'; .. · - ~?a~'eements, whether written or oral, between the pa~es and relating to the Leased Premises. Any such prior ~:z;:iii?~or~tracts, leases, or agreements are of no further egal effect, !¢:.' ..... 29. A~alicable Law. This agreement shall be governed by and construed in accordance with the ii?'i, laws of the State o~ Wyoming, {,!' .. ~: ...~.,,.~ . :: .,:. ...... 30. No Waivar. The waiver or failure of the Lessor to in~i~t i~ any one or more instanees ulx>n the :~?i;','stnct performance by the Lessee of any provisions or covenant in this lease shall not be considered as a waiver ,%..,:: .... ~..~.or relinquishment for the future, ~ut the provision or covenant shall continue in full force. ;,;:.'.%.. 87/26/2884 23:14 3878838882 BANK OF STAR VALLEY PAGE 18 31, Time tithe Essence. Time is of the essence in all provisions of this lease. IN WITNESS WHEREOF this lease agreement has been entered into the day and year above written, Lessor: By: AFTON-LINCOLN COUNTY AIRPORT JOINT POWERS BOARD Chairman Lessee: