Tie Down Lease Terms

1.DEFINITIONS. The following definitions shall apply herein:

A.     “Lessor” means __Alaska Gear Company, LLC_.

B.     “Lessee” means _________________________.

C.     “Tie-down Space” means tie-down space number____, at 2424 E 5^th Avenue, Anchorage, Alaska 99501, Merrill Field Airport.

2.TERM. This agreement shall be effective from the _____ day of ________ _____ and will renew Annually until terminated by either party in accordance with section 5 of this agreement.

3.FEES. The Lessee shall pay Lessor an Annual fee during the term of this agreement in the amount of $_840__ due January 1^st each year until the agreement is terminated. Lessee must keep credit card authorization (exhibit A) on file and such fee will be automatically charged to the credit card until termination of this lease.

 

Should card decline, Lessee shall have 5 days to update the card information. Failure to do so will result in a 10% late fee each month until paid. Lessor also reserves the right to restrict gate access until past due amounts are paid in full.

 

Lessee will be provided an access key to gate N6 upon execution of this agreement. If the access key has been lost or stolen, Lessee must notify Alaska Gear Company immediately. A replacement key can be provided at an additional cost of $30.00.

 

4.AIRCRAFT IDENTIFICATION. The aircraft which the Lessee may park at the tie-down space pursuant to this agreement is described as follows:

 

1.     Type:___________________, Model:__________________, Number:__________________

2.     Type:___________________, Model:__________________, Number:__________________

 

The Lessee shall not place or allow another to place any aircraft other than the ones described above at the tie-down space. Lessor reserves the right to assign Lessor a different tie-down space at any time during the term of this agreement. Lessee must move aircraft within 10 days of notice from Lessor.

 

 

5.TERMINATION. Either party may terminate this agreement for any reason upon 15 (fifteen) days written notice. All annual fees are final and will not be returned to Lessee unless the Lessee has prepaid for future months. The Lessee shall remove the aircraft from the tie-down space no later than the effective date of termination.

 

Lessor notice address:               Alaska Gear Company, LLC

                                                81 E Commercial Drive

                                                Palmer, AK 99645

                                                accounting@alaskagearcompany.com

                                                (907) 331-3794

 

Lessee notice address:              Name: __________________________

                                                Street Address:____________________

                                                City, State, Zip: ____________________

                                                Email: ___________________________

                                                Phone: __________________________

 

6.LIABILITY. The Lessee shall defend, save, hold harmless, and indemnify Alaska Gear Company from any claim or action for injury to persons or property from any cause related to the Lessee’s use of the tie-down space. Lessee shall hold Alaska Gear Company harmless for any damage sustained to the aircraft parked in the tie-down space or to any other property of the Lessee or to the Lessee from any cause other than the sole negligence of Alaska Gear Company, LLC.

 

7.PERMITTED USE. The Lessee shall use the tie-down space for no purpose other than storage and parking of aircraft. Aircraft must be in airworthy condition and used on a semi-regular basis. The Lessee shall not use the tie-down space nor permit another to use the tie-down space for vehicle and trailer storage or for any purpose that may constitute a nuisance, fire hazard, or violation of any law, lawful order, rule, or regulation of Merrill Field Airport.

 

8.ASSIGNMENT. This agreement may not be assigned and any attempt by the Lessee to do so shall be null and void. If the Lessee transfers title of the aircraft described in Aircraft Identification, Alaska Gear Company shall, upon 30-day request of Lessee, terminate this agreement and enter into a new agreement with the person to whom title of the aircraft has been transferred, provided that the transferee wishes to lease tie-down space in their name at that time. If notice is not provided to the Lessor, the Lessee, named and signed here within, remains the responsible party for lease payments.

 

9.SAFE USE OF THE TIE-DOWN SPACE AND AIRPORT DRIVING. The Lessee shall use the tie-down space in a safe manner by adequately securing the aircraft when it is stationary and by moving it to and from the tie -down space in a safe manner.  

 

In accordance with the Merrill Field Airport Driver Training Program (DTP), Lessee is required to take the Merrill Field Driver Training Exam. The study guide and exam will be provided upon execution of this lease. These materials may also be obtained by emailing accounting@alaskagearcompany.com or visiting Alaska Gear Company in Anchorage. Completed exams need to be sent to accounting@alaskagearcompany.com. Lessee must forward a copy of certificate to Lessor for its records. Lessor reserves the right to restrict gate access until Lessee provides Driver Training Program certificate. 

Each Party acknowledges that it has read and understood all the terms of this Agreement and hereby agrees to be bound thereby.