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10/04/1988 Lease LEASE THIS LEASE is made and entered into on the 1tJ. day of o (.J01::() be. t' , A. D., 1988, by and between MONROE COUNTY, a political subdivision of the State of Florida, Lessor, herein- after referred to as "COUNTY" and AIR CARGO AMERICA, INC., a Florida corporation, Lessee, hereinafter referred to as "ACA". WHEREAS, COUNTY owns an airport known as Key West Interna- tional Airport, located in Key West, Monroe County, Florida, hereinafter referred to as the "AIRPORT", and WHEREAS, ACA is engaged in the business of air transporta- tion of cargo, mail and other property, and WHEREAS, ACA desires to obtain certain rights and privileges in connection with the use of the airport facilities, and the COUNTY is willing to grant and lease the same to ACA on a non-exclusive basis, upon the terms and conditions hereinafter stated. NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein contained, and other valuable considerations, COUNTY does hereby lease unto ACA, and ACA does hereby lease from COUNTY certain premises and facilities, rights and privileges, as follows: 1. Premises County does hereby lease to ACA, and ACA leases from COUNTY, the eastern portion, measuring forty-seven feet by thirty feet (47' x 30') of the Air Cargo building pres- ently located at the AIRPORT, as indicated on the drawing la- belled as Exhibit "A" and attached to, and made a part of, this Agreement. 2. Use of the Airport ACA shall be entitled to use, in common with others authorized to do so, the airport facilities and appurtenances, together with all equipment, improvements, and services which have been or may hereafter be provided at or in connection with the AIRPORT for common use, in the operation of a business for the transportation of cargo, mail and other property by air. 3. Term The term of this Lease shall be two (2) years, commencing October 5, 1988, and ending on September 30, 1990. ACA shall have the option to renew this Lease for additional terms of one (1) year or more each, upon such terms and con- ditions and rent as may be agreed to by the parties. The COUNTY may cancel this Lease at its pleasure at any time after the expiration of one (1) year following the effective date of this agreement. 4. Rent During the term of this Lease, ACA shall pay to the COUNTY, rent as follows: (1) the amount of seven dollars and thirty-one cents ($7.31) per square foot, for the area of one thousand four hundred ten (1410) square feet, in the Air Cargo building, for a total of ten thousand, three hundred seven dollars and ten cents ($10,307.10) per annum, plus (2) the amount of thirty-six and three-tenths cents ($0.363) per square foot, for an area of one thousand nine hundred forty (1940) square feet, of open land adjacent to the Air Cargo building, for use for loading, unloading, and parking of automotive vehicles, for a total of seven hundred four dollars and twenty-two cents ($704.22) per annum. Such rent shall be paid in equal installments, each of which shall be due and payable on or before the first day of each calendar month during which this lease is in effect. Upon the failure of ACA to pay any such installment when due, the COUNTY will be entitled to charge and collect, and ACA will be obligated to pay, a late fee of two percent (2%) of any such amount, if paid within thirty (30) days of the date due, and five percent (5%) of any such amount, not paid within thirty (30) days of the date due. Such late fees will be in addition to the amount of rent due, and they shall not preclude the COUNTY from seeking any 2 other remedy for late payment of rent. In the event that any check, draft, or negotiable instrument by which ACA has tendered any rent payment is returned to the COUNTY, and not honored, whether for insufficient funds or other reason, the COUNTY will be entitled to charge and collect, in addition to any applicable late payment fees as provided above, a fee of twenty-five dollars ($25.00) for such dishonored instrument. Such penalty fee will be in addition to the amount of rent due, and it shall not preclude the COUNTY from seeking any other remedy for late payment of rent. 5. Security Deposit In addition to the rent payments as provided above, ACA shall pay to the COUNTY, upon the date of execution of this Agreement, an amount of twenty-five hundred dollars ($2500.00), which the COUNTY will hold as a security deposit. In the event of any breach, by ACA, of any of the terms of this Agreement, including any failure to timely pay any rent due, the COUNTY may draw upon the monies held by the COUNTY as security, to pay and cover any amounts due and owing from ACA. 6. Landing Fees In addition to the rent as provided above, ACA shall pay to the COUNTY, landing fees computed as follows: $.47 per 1,000 pounds of approved maximum gross landing weight. A minimum landing fee of $5.88 will be charged for all aircraft weighing less than 12,500 lbs. gross landing weight. ACA shall report to the COUNTY not later than the 10th day of each month, ACA I S Actual Revenue Trip Arrivals at the Airport during the preceding calendar month, which shall include the number and type of such arrivals. The number of arrivals so operated, multiplied by the applicable approved maximum gross landing weights for each type of aircraft, shall determine the weight for which the monthly payment shall be made. The term "approved maximum gross landing weight" for any aircraft as used herein, shall be the maximum gross landing 3 weight approved by the Federal Aviation Administration for landing such aircraft at the AIRPORT herein. 7. Lease Hold Improvements and Use ACA shall have the right to occupy the eastern portion, measuring forty-seven feet by thirty feet (47' x 30'), of the Air Cargo building, and an area of two thousand two hundred seventy-six (2276) square feet of open land adjacent to the Air Cargo building. As a condition to the continued enjoyment of this lease, ACA shall block off the interior doorway in the Air Cargo building, at the perimeter of the eastern portion leased to ACA, at its own expense, and within thirty (30) days of the effective date of this lease. As a further condition to the continued enjoyment of this lease, ACA shall remove the existing trailer located at the AIRPORT, which ACA currently uses as an office, within thirty (30) days of the effective date of this lease and at its own expense. Until such time as ACA does remove this trailer, ACA shall continue to pay rent for the area on which the trailer is located, at the rate of seventy-one dollars and fifty cents ($71. 50) per month, plus applicable taxes. During the term of this lease ACA shall not park or place any automotive vehicles in any spaces other than those designated by the COUNTY for parking, and ACA shall not park any vehicle overnight anywhere on AIRPORT property, without prior written consent to do so, obtained from the Director of Airports. 8. Common Areas ACA shall have the right to use, in common with others, the AIRPORT space and facilities to permit landing, taking off, taxiing, loading, unloading and servicing of ACA aircraft, subj ect to reasonable rules and regulations of COUNTY as to the use of such common spaces and facilities. 9. Right of Ingress and Egress ACA, its agents, employ- ees, customers, suppliers, and patrons shall have the right of ingress and egress to and from the leased premises, which shall not be unreasonably restricted by COUNTY. 10. Utilities ACA shall be responsible for the payment for electrical service, water service, trash removal service and 4 similar utility services as needed. 11. Assignment The premises leased hereunder may not be sublet and this Lease may not be assigned without the written consent of the COUNTY. 12. Maintenance of Premises ACA shall be responsible for and shall properly maintain the leased premises, and upon the termination of this Lease, shall leave the premises in, at least, as good condition as at the time of the commencement of this Lease, normal use and occupancy excepted. 13. Insurance ACA agrees to indemnify and save COUNTY harmless from and against all claims and actions and expenses incidental thereto, arising out of damages or claims for damages resulting from the negligence of ACA, its agents, or employees in the use or occupancy of the leased premises and the common areas of the AIRPORT facilities by ACA. ACA shall carry and keep in force Comprehensive General Liability Insurance coverage with combined single limits for bodily injury and property damage in the amount of One Million Dollars ($1,000,000.00); and to furnish COUNTY with proper certificates certifying that such insurance is in force. ACA shall carry its insurance coverages with insurance companies authorized to do business in the State of Florida. 14. Default The failure of ACA to pay any installment of rent when it becomes due or any other charges or fees shall constitute a default under the terms of this lease. Further, the failure of ACA to perform any other of the covenants of this Lease, which failure shall continue for a period of fifteen (15) days after notice thereof is given to ACA in writing by the COUNTY shall also constitute a default under the terms of this Lease. In the event of a default, COUNTY may, at its option, declare the Lease forfeited and may immediately re-enter and take possession of the leased premises and this Lease shall terminate. If it shall be necessary to employ the services of an attorney in order to enforce its right under this paragraph, or to collect any of its rentals, fees, or charges due, COUNTY shall be enti- tled to reasonable attorney's fees. 5 15. Cancellation of Lease COUNTY may cancel this Lease agreement by giving ACA sixty (60) days advanced written notice upon the happening of anyone of the following events: the filing of a voluntary petition in bankruptcy by ACA; the institu- tion of an involuntary proceeding in bankruptcy and the adjudica- tion of ACA as bankrupt; the taking by a court of competent jurisdiction of ACA and its assets, pursuant to a proceeding under the provisions of any federal reorganization act; the appointment of a receiver of ACArs assets; the divesting of ACArs lease hold estate by other operation of law; the abandonment by ACA of air cargo transportation business at the AIRPORT for a period of sixty (60) days. IN WITNESS WHEREOF, the parties hereto have caused this Lease to be executed as of the day and year first above written. BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA Byg~, ~ ~yor rman" (SEAL) Attest: DANNY L. KOLHAGE, Clerk ~e.{d-~.~~ AIR CARGO AMERICA, INC. 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