Mountain West Helicopters Lease 08/75-07/78AIRPORT LEASE AGREEP�ETNT
1i:.IS 1177FrEPSENT, made and entereCnto this day of
1975, by and betwcen THE F.ALISPELL AIRPORT 1'_SSOCIATION,
INC.((/ a Fontana corporation, hereinafter called THE ASSOCIATION,
and MOUI-ITAIN WEST HELICOPTERS, a Montana corporation, hereinafter
called THE CO.M.P2,14Y,
W I T N E S S E T H
In consideration of the sum of ONE HUNDRED FIFTY AND 1401100
DOLLARS ($150.00) per year, the Association hereby agrees to and
uo-s lease to the Co:apany and the Company agrees to and does lease
from the Association a portion of the-'prenises known as the "Kalispell
City Airport" in Flathead County, Montana, more particularly described
as follocvs :.
Beginning at the Northwest corner of Section 20, Township
28 North, Range 21 West, P.M.M., thence South 00 06' West
(as per plat of Bros-m's Addition to Kalispell) 500.0 .feet
to a point; thence South 890 54' East 50.0 feet to the
true point of beginning of the tract to be leased; thence
continuing South 890 54' East 136.12 feet; thence South 00
06' E:est 160.0 feet; thence N 890 54' West 136.12 feet;
thence North 00 06' East 160.0 feet to the point of begin-
ning and containing 0.50 acre of land.
This lease shall commence on the lst day of August, 1975 and shall
continue in force and effect until the 31st day of July 1978, unless
sooner terminated by the mutual agreement of the parties or the
failure of the Co-upan�y to pay the rent as provided hereby or for
violation of any other covenant contained herein unless such delin-
quency or violation of covenant is corrected within a period of
30 days after written notice thereof is furnished to the other party.
The ,company:_ covenants and agrees that the premises covered
by this lease shall be used by the Company in the operation of air-
craft and the storage and maintenance thereof and for such other
use as -ray be necessary and incidental thereto.
The Company shall have access to and use of the runways and
other public portions of said Kalispell City Airport as are rented
by the Association from the City of Kalispell under that certain
Lease dated March 14, 1966 by and between the City of Kalispell and
the 1-association.
The Company covenants and agrees to abide by all tends of the
aforesaid Lease between the Association and the City of Kalispell
as imposed upon the Association thereby. A copy of said Lease,
desiunated as Exhibit "A; is attached to this agreement a..nd by this
reference is made a part hereof.
it is further agreed that the Company, at the end of the term
of this lease, shall have the option to renew same for a period of
years and for an annual rental of no more than � 0/oorper cent
greater than the annual rental provided hereby. At the end of suc.,,
a renewal period the Company shall have the option to again renew
this lease for a like period and at the same rate of increase in the
annual rental charged. Company`s right to such periodic renewals
shall continue as long as the Association holds such premises under
a valid Lease agreement with the City of Kalispell.
IN WITNESS WHEREOF, the parties hereto have hereunto set their
hands this day of��%i;{n�, 1975.
THE EiALISPELL AIRPORT ASSOCIATION, INC.
A Montana cor oration,
/I%.
ATTEST: President
�C/).2./ 'lCs�/ TI T' ASSOCIA`T_'IO''
Secretary Jf
MOUNTAIN WEES`I' HELICOPTERS,
a Montanaa� corpo/r/ation
By : �/�e-"/ Lam- C��� �_f��
ATTEST: President
r1.1t COMPANY
Secretary
�m