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AIRPORT HANGAR RENTAL AGREEMENT This airport hangar rental agreement ("Agreement") is made and entered into this I I th day of January, 2017 ("Effective Date") by and between the City of Redlands, a municipal corporation ("City"), and William Smith ("Tenant") City and Tenant are sometimes individually referred to herein as a "Party" and, together, as the "Parties " I PREMISES City hereby rents to Tenant, and Tenant hereby rents from City, that certain hangar designated as Hangar No 28 (the "Premises"), located at the Redlands Municipal Airport("Airport"), and more paiticulaily described in Exhibit "A" attached hereto This Agreement for rental of the Premises is foi the principal purpose of the storage of Tenant's aircraft which is identified as year 1949 Cessna 195, Registration No NI95SC for personal aviation related business, and any incidental aviation related uses associated therewith 2 TERM The term of this Agreement shall be month-to-month commencing on the Effective Date, and in no event shall exceed three (3) years 3 CONSIDERATION 3 1 Monthlv Rental Pavments Tenant shall pay to City on of before the 15th day of each month during the term of this Agreement as monthly rent, without deduction, setoff of demand, the sum of three hundred-fifty ($650) A late fee shall be levied in the amount of ten percent (10%) of the amount due for any amount not received by the date such rent is due Upon providing Tenant thirty (30) days' prior written notice of the same, the rent may be increased by the City, no less than every two (2) years, by the percentage increase in the Consumer Price Index, all urban consumers, Los Angeles-Riverside-Orange Counties, during the term of this Agreement, on the anniversary date of the Effective Date of the Agreement 3 2 Manner of Payment of Rent Monthly rent foi any partial month shall be prorated at the rate of 1130th of the monthly rent per day The monthly rent and any applicable late charges payable by Tenant hereunder shall be paid by Tenant without notice, demand or offset at the office of the Airport Manager at the Airport, of at such other place as may from time to time be designated by City 3 3 Taxes and Assessments 3 3 1 Oblia-ation to Pav Tenant is responsible for and shall pay all real and personal property taxes (including any tax levied on a possessory interest, as defined in California Revenue and Taxation Code Section 107 of successor statute, if applicable), general and special assessments, and other charges of every description, levied on or assessed against the Premises, personal property located on the land or improvements, the leasehold estate, or any subleasehold estate, falling due during the term of this Agreement It shall be conclusively presumed that any aircraft stored at the Premises pursuant to this Agreement shall be considered "habitually situated" therein as that term is defined in Revenue and Taxation Code section 5362 Tenant shall make all such payments directly to the assessing authority, before delinquency and before any fine, interest or penalty shall become due or be imposed by operation of law for their nonpayment I