CHD Curtis East LLC Lease

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CITY OF CHANDLER 
AIRPORT LEASE CONTRACT 
NO. ______ 
1. 
PARTIES.  This Airport Lease Contract (this “Lease”), dated the ___ day of 
_____________, 2026 (the “Effective Date”), is made by and between the CITY OF CHANDLER, 
an Arizona municipal corporation (“Landlord”), and CHD CURTIS EAST LLC, an Arizona limited 
liability company (“Tenant”).  Landlord and Tenant may be referred to in this Lease as a “Party” or 
collectively as the “Parties.” 
 
2. 
RECITALS.  As background to this Lease, the Parties agree, acknowledge and recite as 
follows, each of which shall be deemed a material term and provision of this Lease: 
 
2.1. 
Landlord owns and operates a municipal airport known as Chandler Municipal 
Airport (the “Airport”), a portion of which has been made available for use by tenants for conduct 
of commercial aeronautical activities. 
 
3. 
LEASE OF PREMISES. 
 
3.1. 
PREMISES.  Landlord leases to Tenant and Tenant leases from Landlord for the 
term of this Lease, at the rental, and upon all of the covenants and conditions set forth herein, that 
certain real property located in Maricopa County, Arizona, and legally described in attached 
Exhibit “A”, which consists of one (1) land parcel comprising a total of approximately 4.798 acres 
or two hundred nine-thousand and twenty-eight (209,028) square feet gross more or less to be 
constructed on the described real property by Tenant in accordance with the terms and provisions 
of this Lease (the “Premises”), and together with certain additional rights to use and access of the 
Public Airport Facilities (defined below) set forth in Paragraph 3.2 of this Lease.  The location of 
the Premises and the portion of the Public Airport Facilities immediately adjacent to the Premises 
are conceptually shown in attached Exhibit “B”. 
 
3.2. 
AIRPORT ACCESS RIGHTS.  During the term of this Lease, Tenant shall have the 
following additional rights, each of which is non-exclusive, and each of which is subject to all 
applicable laws, ordinances, rules and regulations, including, but not limited to, the Chandler 
Municipal Airport Rules and Regulations, 2006, adopted and approved by the Chandler City Council 
on July 24, 2006, and any subsequent amendments thereto (the “Airport Rules”): 
 
(a) 
A non-exclusive right to use of the Public Airport Facilities.  As used in this 
Lease, the term “Public Airport Facilities” means (i) the Airport landside areas; (ii) the Airport 
airside facilities operated and maintained by Landlord for public use, including, but not limited to, 
the landing areas, approach areas, runways, taxiways, aprons, aircraft parking areas, navigational 
and avigational aids, lighting facilities; and (iii) other areas of the Airport that may be made available 
to the public by the Airport Administration; 
 
(b) 
A non-exclusive right of access to and from the Premises over and across 
the landside roadways serving the Airport, which shall be available for use by Tenant, and Tenant’s 
agents, servants, patrons, and invitees; and

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(c) 
A non-exclusive right to enter upon and exit the airside of the Airport from 
the Premises to conduct any commercial aviation activity that is a permitted use under this Lease.  
As used in Paragraph 2.1, this Paragraph 3.2 or elsewhere in this Lease, the terms “airside”, 
“Airport Administration”, “commercial aviation activity”, “fixed base operator”, “landside”, and 
“specialized aviation service operator” have the same meanings as set out in the Airport Rules. 
3.3. 
ACCEPTANCE OF PREMISES.  Subject to Paragraph 7.5(h), Tenant 
acknowledges that the Premises, the title to the Premises, any parking, drive and walk areas 
adjoining the Premises (including but not limited to any adjacent airside facilities), the 
environmental condition of the Premises and any subsurface conditions thereof, and the permitted 
and prohibited uses of the Premises, have been examined by Tenant and that Tenant accepts the 
same in the condition or state in which they or any of them may be on the Effective Date of this 
Lease, without representation or warranty, express or implied in fact or by law, by Landlord and 
without recourse to Landlord, as to the nature, condition, or usability thereof or the use or uses to 
which the Premises or any part thereof may be put.  Tenant agrees to make any changes in the 
Premises reasonably needed to conform to any federal, state or local law applicable to the Tenant’s 
use of the Premises.   
 
4. 
CONSTRUCTION OF IMPROVEMENTS. 
 
 
4.1. 
 COMPLETION OF NEW IMPROVEMENTS.  Tenant covenants and agrees that, 
no later than the second (2nd) anniversary of the Effective Date of this Lease, Tenant, at Tenant’s 
expense, shall fully complete a project (the “Project Work”) that, subject to approval from 
applicable permitting jurisdictions, including, without limitation, the City of Chandler building 
department (the “City Building Department”), will meet the minimum requirements set forth on 
Exhibit “F”, attached hereto (the “New Improvements”).  The Project Work shall be done in 
accordance with plans and specifications approved by Landlord in its reasonable discretion.  
Except for activities identified in Paragraph 4.2(d), Tenant will obtain the approval of the final 
plans and specifications by any and all federal, state, municipal and other governmental authorities, 
offices and departments having jurisdiction in the matter and provide conformed copies of 
executed approvals to Landlord.  The execution of this Lease by Landlord does not, and shall not 
be deemed to, constitute approval by the City of Chandler (the “City”) of such plans and 
specifications. 
(a) 
The Project Work shall be deemed fully completed when a final certificate 
of occupancy is issued for the New Improvements by the Planning and Development Department 
of the City of Chandler (or such other department of the City, however denominated, that is 
responsible for issuing building permits and providing certificates of occupancy) (the “Certificate 
of Occupancy”). 
(b) 
Tenant will perform all of the Project Work, including, without limitation, 
all demolition of Existing Improvements and construction of New Improvements, in a good, 
careful, proper, and workmanlike manner in accordance with the approved plans and 
specifications; all provisions of law and any and all permits and authority required by ordinance,

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code, law, or public regulations or by any authority at any time having jurisdiction over the 
Premises; and the requirements of any public or quasi-public body having similar jurisdiction. 
 
(c) 
Landlord will be an additional insured on all liability insurance policies 
maintained by Tenant and its contractor(s) during the performance of all of the Project Work. 
 
(d) 
Tenant shall reimburse Landlord for direct costs associated with Landlord’s 
expenses for the environmental review process by the Federal Aviation Administration (FAA), 
pursuant to the National Environmental Policy Act of 1969, which shall not exceed twenty-five 
thousand dollars ($25,000).  Landlord shall, at its sole expense, submit the project information 
required by the FAA. pursuant to Section 743 of the 2018 FAA Reauthorization Act. 
 
(e) 
Tenant shall acquire permits and commence construction of the Project 
Work no later than the first (1st) anniversary of the Effective Date. 
 
(f) 
In the event that, through no fault of the Tenant’s actions, the period of the 
Project Work is delayed by (i) federal, state, regional, county agencies, or the City or (ii) a 
Landlord Environmental Remediation Obligation (defined in Section 7.5(h), Landlord shall grant 
Tenant a daily schedule credit for completion of the Project (a “Development Delay”). 
 
4.2. 
SURETY BONDS.  Prior to commencing the Project Work, and continuing during 
the entire period of the Project, Tenant shall provide Landlord with a performance bond and a 
payment bond as follows: 
 
(a) 
The performance bond shall be in an amount equal to the total cost of the 
Project.  The condition of said bond shall be such that Tenant shall faithfully perform all of the 
Project Work in accordance with the approved plans and specifications.  Such bond shall be solely 
or the protection of Landlord. 
 
(b) 
The payment bond shall be in an amount equal to the total cost of the Project, 
including without limitation the demolition and removal of existing structures and construction of 
new improvements.  The condition of said bond shall be such that Tenant shall promptly pay or cause 
to be paid all monies due to all persons supplying labor and materials in the performing the Project 
Work. 
 
(c) 
Each bond shall be executed solely by a surety company or companies 
holding a certificate of authority to transact surety business in the State of Arizona issued by the 
director of the Arizona Department of Insurance pursuant to Title 2, Chapter 2, Article 1 of the 
Arizona Revised Statutes, and no such bond shall be executed by an individual surety or sureties. 
 
(d) 
Each bond shall include a provision allowing the prevailing party in a suit on 
such bond to recover as a part of the judgment such reasonable attorney’s fees as may be fixed by a 
court of competent jurisdiction. 
 
(e) 
In the event that Tenant’s lender, if any, requires such bonds, the bond 
requirements herein shall be satisfied if the bonds required by the lender meet the conditions of

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Paragraphs 4.2(a), (b), and (c), provided Landlord shall be named as a dual obligee or co-obligee 
under such bonds. 
 
4.3. 
TITLE TO IMPROVEMENTS.  Title to the improvements on the Premises shall 
be as follows: 
 
(a) 
Title to any new buildings, structures or other improvements constructed on 
the Premises by Tenant after the Effective Date of this Lease, including without limitation all such 
buildings, structures or improvements constructed as part of the Project, shall remain in Tenant’s 
possession.  Except for movable property and trade fixtures of Tenant not permanently affixed to 
the Premises, title to any such new buildings, structures or other improvements, whether or not 
constructed as part of the Project or the Project Work, shall automatically pass to Landlord upon 
the expiration, termination, or earlier cancellation of this Lease as provided herein.  
  
(b) 
Notwithstanding Paragraph 4.3(a), Tenant agrees to execute, acknowledge 
and deliver to Landlord, at or prior to the expiration, termination, or earlier cancellation of this 
Lease, a proper recordable instrument prepared by Landlord quit claiming and releasing to 
Landlord any right, title and interest of Tenant in and to the Premises and any of the improvements 
located thereon. 
 
5. 
TERM. 
 
5.1. 
TERM.  The term of this Lease (the “Term”) shall be for a period of thirty (30) 
years, commencing on the Effective Date and ending on the last day of the (30th) year, unless this 
Lease is sooner terminated as hereinafter provided.   
5.2. 
EXTENSION TERM. Provided no uncured event of default exists, from and after 
the twenty-fifth (25th) anniversary of the Effective Date of this Lease, but no later than two (2) 
years before the lease termination date (the “Extension Notice Deadline”), Tenant has the right to 
extend the Lease Term (a “Extension Notice”) for one (1) additional term of ten (10) years (the 
“Extension Term”) commencing on the day following the expiration of the initial Term.  The 
Monthly Base Rent during the Extension Term will be the then-prevailing market rate for 
comparable new ground leases at the Airport (“Fair Market Rent”).  For a period of thirty (30) 
days after Tenant provides Landlord with an Extension Notice, Landlord and Tenant will negotiate 
in good faith to determine Fair Market Rent.  If the parties are unable to do so within such thirty 
(30) day period, each party shall appoint an appraiser licensed in the State of Arizona with at least 
ten (10) years of experience in aviation commercial real estate to determine Fair Market Rent. If 
the two appraisers can agree on Fair Market Rent, that figure will be binding on the parties. If not, 
the two appraisers will jointly appoint a third, impartial appraiser licensed in the State of Arizona 
(meeting the same qualifications as set forth above), who will make an independent determination 
of Fair Market Rent that is binding on the parties hereto.  Each party shall pay the cost of its own 
appraiser, and shall split the cost of the third appraiser. In no event may the Fair Market Rent be 
less than the Monthly Base Rent in the immediately preceding year. If Tenant exercises its right to 
extend the Term for an Extension Term, the term “Term” as used in this Lease will be construed

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to include the Extension Term.  Except for the Monthly Base Rent, all other terms and conditions 
set forth in the Lease will be applicable during the Extension Term.  
6. 
RENT. 
 
6.1. 
RENT PAYMENTS.  Rent payments for the Premises shall commence on the 
Effective Date of this Lease.  All rent payments that are received by Landlord from Tenant shall 
be applied first toward any accrued late payment charges or interest, then to any other charges or 
fees stated in this Lease that may be due and owing, then to any back rent due and not yet paid, 
and then to the current rent. 
 
6.2. 
MONTHLY BASE RENTAL.  Commencing on the Effective Date and continuing 
through the Post Construction Commencement Date (defined below) Tenant shall pay to Landlord a 
monthly base rental of One Thousand Five Hundred Sixty-Seven and 71/100 Dollars ($1,567.71) 
(the “Pre-Construction Monthly Base Rent”). Commencing on the earlier of (i) final Certificate of 
Occupancy from the City of Chandler’s building department for the New Improvements, or (ii) 
Twenty-Four (24) months following the Effective Date (the “Post Construction Commencement 
Date”), Tenant shall pay to Landlord a monthly base rental of Ten Thousand Four Hundred Fifty-
One and 40/100 Dollars ($10,451.40) (the “Post Construction Monthly Base Rent, collectively with 
the Pre-Construction Monthly Base Rent, the “Monthly Base Rent”), which is based on an annual 
lease rate of sixty cents ($0.60) per square foot of land per year times 209,028 square feet divided 
by twelve (12).  On each anniversary of the Effective Date, the Monthly Base Rent shall be increased 
in accordance with the provisions of Paragraph 6.3.  When rent payments commence, the Monthly 
Base Rent due hereunder shall be payable in advance to Landlord, without notice or offset, on or 
before the first day of each month during the Term at the address stated herein or to such other 
persons or at such other places as Landlord may designate in writing and shall be paid in lawful 
money of the United States of America.  The Monthly Base Rent for any period during the Term 
which is for less than one month shall be a pro rata portion of the monthly installment.  
Notwithstanding the foregoing, the Post Construction Commencement Date shall be extended due 
to the provisions of Section 18 below, or due to any Development Delay.   
 
6.3. 
MONTHLY BASE RENT INCREASE.  Commencing on the third (3rd) anniversary 
of the Effective Date, and on each subsequent anniversary thereafter, the Monthly Base Rent shall 
be adjusted in accordance with this paragraph.  The rent increase shall be determined by multiplying 
the current annual rent by the annual percent change in the Consumer Price Index for all Urban 
Consumers (CPI-U), as reflected in the U.S. Western Region Average CPI-U for All Items (Base 
period 1982-1984), for the month which is two (2) months prior to the month of the anniversary of 
the Effective Date (“the Adjustment Month”) of the current lease year from the CPI-U for the 
Adjustment Month of the prior year, as those index figures are determined by the United States 
Department of Labor, Bureau of Labor Statistics.  If there is no such CPI-U figure for the Adjustment 
Month of any year of the Term, then the Adjustment Month figure of the successor or most nearly 
comparable successor Index shall be used. 
 
(a) 
The calculation of the annual rent increase shall be as follows:

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(1) 
Determine the current annual rent by multiplying the current monthly 
rent by 12. 
 
(2) 
Determine the CPI-U index point change by subtracting the previous 
year’s CPI-U index figure for the Adjustment Month from the current year’s 
CPI-U index figure for the Adjustment Month. 
 
(3) 
Determine the CPI-U annual percent change by dividing the index 
point change by the previous year’s CPI-U index figure for the Adjustment 
Month. This quotient can be expressed as a percentage by multiplying by 100. 
 
(4) 
Determine the additional annual rent by multiplying the current 
annual rent by the annual percent change. 
 
(5) 
Determine the new annual rent by adding the additional annual rent 
to the current annual rent. 
 
(6) 
Determine the new monthly rent by dividing the new annual rent by 
12. 
 
(b) 
By way of example only, the following is shown for determining the annual 
percentage change: 
CPI-U for current period
133.0
Less CPI-U for previous period
130.0
Equals Index Point Change
3.0
Divided by previous period CPI-U
130.0
Equals
0.023
Result multiplied by 100
0.023 x
100
Equals percent change
2.3 %
 
(c) 
In no event shall the minimum Monthly Base Rent for any year during the 
Term be less than the minimum Monthly Base Rent for the immediately preceding year. 
 
6.4. 
AIRCRAFT PARKING CHARGES.  If Tenant reserves from Landlord any aircraft 
tie downs that are on the Public Airport Facilities and not on the Premises, Tenant may opt to pay 
the monthly rate charged by Landlord for use of the tie downs as additional monthly rent under this 
Lease (the “Additional Monthly Rent”).  Payment of the Additional Monthly Rent is due and payable 
at the same as the Monthly Base Rent and shall accompany the Monthly Base Rent payment made 
by Tenant to Landlord.  The Additional Monthly Rent shall be the monthly rate charged by Landlord 
for use of aircraft tie downs on the Public Airport Facilities times the number of tie downs reserved 
by Tenant.  The Additional Monthly Rent shall be adjusted from time to time to coincide with any 
change in the rate charged by Landlord to the public for use of tie downs owned and maintained by 
Landlord as part of the Public Airport Facilities.

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6.5. 
ADDITIONAL RENT.  Any other monetary obligation of Tenant to Landlord under 
the terms of this Lease shall be deemed rent and payment thereof shall accompany the next Monthly 
Base Rent payment made by Tenant to Landlord. 
 
6.6. 
LATE PAYMENT INTEREST.  If Landlord does not receive the monthly rent by 
the tenth (10th) of the month, then in addition to the overdue rent, Tenant shall pay interest on the 
rent payment then due at the rate of ten percent (10%) per annum.  Such interest commences on the 
date the rent is due and accrues until such rent is paid. If Tenant does not pay the rent when due and 
interest is incurred each month for three (3) consecutive months, then, beginning on the first (1st) day 
of the fourth (4th) consecutive month, all further rent called for herein shall automatically become 
due and payable quarterly in advance rather than monthly, notwithstanding any other provision in 
this Lease to the contrary, and regardless of whether or not the interest is paid or collected.  The 
imposition of such interest, or the conversion to quarterly payments, does not prevent Landlord from 
exercising any other rights and remedies under this Lease, including the early termination of this 
Lease. 
 
6.7. 
NET RENT.  It is the intention of the Parties that the rent specified in the Lease shall 
be net to Landlord in each year during the Term of this Lease.  Accordingly, all costs, expenses and 
obligations of every kind relating to the Premises (except as otherwise, specifically provided in this 
Lease) that may arise or become due during the term of this Lease shall be paid by Tenant, and 
Tenant shall indemnify Landlord against such costs, expenses and obligations.  However, the rent to 
be paid under this Lease is in addition to, and not in lieu of, any requirement to pay any charges or 
fees that may be established pursuant to the Airport Rules and any applicable license or permit fees 
required pursuant to the Chandler City Code and/or the Airport Rules. 
 
 
7. 
USE OF PREMISES. 
 
7.1. 
PERMITTED USES.  Subject to Paragraph 7.2 below, Tenant shall use the Premises 
only for those aviation activities listed below and for no other purpose without the written consent 
of Landlord, which may be withheld in Landlord’s sole discretion.  Tenant shall only use the 
Premises for said aviation activities during such period that Tenant holds any applicable license or 
permit required by the Chandler City Code and/or the Airport Rules to conduct such aviation 
activities at the Airport.  The Premises shall be used only for lawful purposes, and only in accordance 
with applicable building, fire and zoning codes.  In using the Premises for any commercial aviation 
activities, Tenant shall do so after qualifying either as a Fixed Based Operator (FBO) or a Specialized 
Aviation Services Operator (SASO) or receiving an Aeronautical Use Permit from the City of 
Chandler, as those terms are defined and described in the Airport Rules.  The Airport Manager is 
designated as Landlord’s representative in giving consent for Tenant to engage in other commercial 
aviation activities applicable to an FBO or SASO, as the case may be, in lieu of or in addition to 
those activities listed below.  Any such consent from the Airport Manager shall be in writing, shall 
be affixed to this Lease, and may be given or withheld in the Airport Manager’s sole discretion.  
Lessee may utilize or make the premises, or a portion thereof, available for sublease by individuals 
or business entities for aviation related or aeronautical related commercial activities including 
accommodations for any activity defined as a Specialized Aeronautical Service Operator within 
the most current version of the Chandler Municipal Airport Rules and Regulations.  All

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commercial activities must adhere to the Chandler Municipal Airport Rules and Regulations and 
first be approved in writing by the Airport Administration.  Where applicable, users must obtain 
an Aeronautical Business Permit from the Airport Administration. 
 
7.2. 
PROHIBITED USES.  The following activities are specifically excluded and 
prohibited unless prior written approval has been granted by the Airport Manager: 
 
(a) 
Ground transportation for hire. 
 
(b) 
Providing space, including tie-down areas, for other than Tenant’s own 
customers or sublessees. 
 
(c) 
Sale of insurance other than aviation and aviation trip insurance. 
 
(d) 
Auto rental agency or service; however, this prohibition does not prohibit the 
Tenant operation, as a company function, from assisting its customers in making appropriate 
arrangements with a duly licensed auto rental agency authorized by the Landlord to do business on 
the Airport. 
 
(e) 
Advertising concession (posters, privileges, publications, and other media). 
 
(f) 
Food sales, except through coin-operated vending machines as provided in 
Paragraph 7.4, and except as allowed under Paragraph 7.3 below. 
 
(g) 
News and sundry sales not associated with the primary services listed in 
Paragraph 7.1. 
 
(h) 
Barber, valet, and personal services. 
 
(i) 
Sale of automotive fuel, lubricants, and propellants. 
 
(j) 
Storage of surplus (inoperable) aircraft except in areas, and of a number, to 
be designated by the Airport Manager. 
 
(k) 
Retail sale of non-aviation products. 
 
(l) 
Sale of aviation fuels and lubricants except in the ordinary course of Tenant’s 
business permitted pursuant to Paragraph 7.1. 
 
 
7.3. 
SIGNS.  All signs installed by Tenant shall conform to the requirements of 
applicable provisions of the Chandler City Code, including, but not limited to, the Sign Code and 
the Zoning Code. 
 
7.4. 
COMPLIANCE WITH APPLICABLE LAWS.  Tenant shall observe and comply 
with all applicable laws, ordinances, rules, and regulations of the United States of America, the State

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of Arizona, the County of Maricopa, and the City of Chandler and all agencies thereof, that are now 
in effect or hereafter promulgated; and further, Tenant will display to Landlord any and all permits, 
licenses or other evidence of compliance with all laws upon request of Landlord. 
 
7.5. 
HAZARDOUS MATERIAL. 
(a) 
As used herein, "Hazardous Material" shall mean any chemical, substance, 
material, waste or similar matter defined, classified, listed or designated as harmful, hazardous, 
extremely hazardous, dangerous, toxic or radioactive, or as a contaminant or pollutant, or other 
similar term, by, and/or which are subject to regulation under, any federal, state or local 
environmental statute, regulation or ordinance presently in effect or that may be promulgated in 
the future, and as they may be amended from time to time. 
(b) 
As used herein, "Hazardous Material" shall mean any chemical, substance, 
material, waste or similar matter defined, classified, listed or designated as harmful, hazardous, 
extremely hazardous, dangerous, toxic or radioactive, or as a contaminant or pollutant, or other 
similar term, by, and/or which are subject to regulation under, any federal, state or local 
environmental statute, regulation or ordinance presently in effect or that may be promulgated in 
the future, and as they may be amended from time to time. Except for Hazardous Material normally 
used in Tenant’s business in quantities customary for Tenant’s business which shall be stored and 
used in accordance with applicable laws and regulations and manufacturer’s requirements, Tenant 
agrees not to introduce any Hazardous Material in, on or adjacent to the Premises or in, on or 
adjacent to any portion of the Airport without (i) obtaining Landlord’s prior written approval, (ii) 
providing Landlord with thirty (30) days prior written notice of the exact amount, nature, and 
manner of intended use of such Hazardous Material, and (iii) complying with all applicable federal, 
state, and local laws, rules, regulations, policies and authorities relating to the storage, use, disposal 
and clean-up of Hazardous Material, including, but not limited to, the obtaining of all proper 
permits. 
(c) 
Tenant shall immediately notify Landlord of any inquiry, test, investigation, 
or enforcement proceeding by, against or directed at Tenant or the Premises concerning a 
Hazardous Material.  Tenant acknowledges that Landlord, as the owner of the Premises, shall have 
the right, at its election, in its own name or as Tenant’s agent, to negotiate, defend, approve, and 
appeal, any action taken or order issued with regard to a Hazardous Material by any applicable 
governmental authority, and such negotiation, defense, approval and appeal shall be at Tenant’s 
expense to the extent the contamination was caused by Tenant or Tenants’ agents, or occurred 
during the Lease Term. 
(d) 
If Tenant’s storage, use or disposal of any Hazardous Material in, on or 
adjacent to the Premises or the Airport results in any contamination of the Premises, the Airport, 
the soil, surface or groundwater thereunder, or the air above and around the Premises and the 
Airport, that (i) requires remediation under federal, state or local statutes, ordinances, regulations 
or policies or (ii) is at levels which are unacceptable to Landlord, in Landlord’s sole and absolute 
discretion, Tenant agrees to clean-up the contamination immediately, at Tenant’s sole cost and 
expense.  Tenant further agrees to indemnify, defend and hold Landlord harmless from and against 
any claims, suits, causes of action, costs, damages, loss and fees, including attorneys’ fees and 
costs, arising out of or in connection with:  (i) any clean-up work, inquiry or enforcement

Page 10 of 37 
 
proceeding relating to Hazardous Material currently or hereafter used, stored or disposed by 
Tenant or its agents, employees, contractors, or invitees on or about the Premises or the Airport; 
and (ii) the use, storage, disposal or release by Tenant or its agents, employees, contractors, or 
invitees of any Hazardous Material on or about the Premises or the Airport. 
(e) 
Notwithstanding any other right of entry granted to Landlord under this 
Lease, Landlord shall have the right to enter the Premises or to have consultants enter the Premises 
at reasonable times throughout the Term of this Lease for the purpose of determining:  (i) whether 
the Premises is in conformity with federal, state and local statutes, regulations, ordinances, and 
policies, including those pertaining to the environmental condition of the Premises; (ii) whether 
Tenant has complied with this Paragraph 7.5; and (iii) the corrective measures, if any, required of 
Tenant to ensure the safe use, storage and disposal of Hazardous Material.  Tenant agrees to 
provide access and reasonable assistance for such inspections.  Such inspections may include, but 
are not limited to, entering the Premises with machinery for the purpose of obtaining laboratory 
samples.  Landlord shall not be limited in the number of such inspections during the Term.  If, 
during such inspections, it is found that Tenant’s use of Hazardous Material constitutes a violation 
of this Lease, Tenant shall reimburse Landlord for the cost of such inspections within ten (10) days 
of receipt of a written statement therefor.  If such consultants determine that the Premises is 
contaminated with Hazardous Material or in violation of any applicable environmental law and the 
same was caused by Tenant or Tenant’s agents, Tenant shall, in a timely manner, at its expense, 
remove such Hazardous Material or otherwise comply with the recommendations of such 
consultants to the reasonable satisfaction of Landlord and any applicable governmental agencies.  
If Tenant fails to do so, Landlord, at its sole discretion, may, in addition to all other remedies 
available to Landlord under this Lease and at law and in equity, cause the violation and/or 
contamination to be remedied at Tenant’s sole cost and expense.  The right granted to Landlord 
herein to inspect the Premises shall not create a duty on Landlord’s part to inspect the Premises, 
or liability of Landlord for Tenant’s use, storage or disposal of Hazardous Material, it being 
understood that Tenant shall be solely responsible for all liability in connection therewith. 
(f) 
Tenant shall surrender the Premises to Landlord upon the expiration or 
earlier termination of this Lease free of Hazardous Material placed thereon by Tenant or Tenants’ 
agents, and in a condition which complies with all governmental statutes, ordinances, regulations 
and policies, recommendations of consultants hired by Landlord, and such other reasonable 
requirements as may be imposed by Landlord. 
(g) 
Tenant’s obligations under this Paragraph 7.5 and all indemnification 
obligations of Tenant under this Lease shall survive the expiration or earlier termination of this 
Lease. 
(h) 
Tenant shall notify Landlord if Hazardous Materials are encountered during 
the Project Work and Landlord shall, in a timely manner and at its expense, remove such 
Hazardous Material or otherwise comply with the recommendations of such consultants to the 
reasonable satisfaction of any applicable governmental agencies (a “Landlord Environmental 
Remediation Obligation”).

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7.6. 
NO RELEASE OF TENANT 
Regardless of Landlord’s consent, no subletting or assignment shall release Tenant of Tenant’s 
obligations or alter the primary liability of Tenant to pay the rent and to perform all other 
obligations to be performed by Tenant hereunder.  The acceptance of rent by Landlord from any 
other person shall not be deemed to be a waiver by Landlord of any provisions hereof.  Consent to 
one assignment or subletting shall not be deemed consent to any subsequent assignment or 
subletting. 
 
8. 
TENANT’S CONDUCT OF BUSINESS.  In conducting commercial aviation activities 
on the Premises or at the Airport, Tenant shall act as follows: 
 
8.1. 
NONDISCRIMINATION.  Tenant agrees that: 
(a) 
In the operations to be conducted pursuant to the provisions of this Lease and 
otherwise in the use of the Airport, Tenant will not discriminate or permit discrimination against any 
person or class of persons by reason of race, color, creed, or national origin in any manner prohibited 
by any of the FAA Regulations or any amendments thereto. 
(b) 
Tenant shall furnish its accommodations and/or services on a fair, equal and 
not unjustly discriminatory basis to all users thereof and it shall charge, fair, reasonable and not 
unjustly discriminatory prices for each unit of service; provided, that Tenant may make reasonable 
and non-discriminatory discounts, rebates or other similar type of price reductions to volume 
purchasers. 
(c) 
Tenant shall make its accommodations and/or services available to the public 
on fair and reasonable terms without unjust discrimination on the basis of race, creed, color, or national 
origin. 
(d) 
Tenant‘s noncompliance with the provisions in Paragraphs 8.1(a), (b) and (c) 
shall constitute a material breach of this Lease.  In the event of such noncompliance, Landlord may 
enforce compliance, terminate this Lease, or pursue such other remedies as may be provided by law.  
Landlord also reserves the right to take such action as the appropriate state or federal authority may 
direct in order to enforce compliance. 
(e) 
Tenant agrees that it shall insert the above four (4) provisions in any sublease, 
agreement or contract by which said Tenant grants a right or privilege to any person, firm or 
corporation to render accommodations and/or services to the public on the Premises.

Page 12 of 37 
 
8.2. 
OPERATIONS. 
(a) 
To the extent that Tenant’s business at the Premises is open to the flying 
public beyond subleasing hangar space, Tenant shall keep Tenant’s business open to serve the flying 
public for at least seven (7) days a week from 6:00 am to 8:00 pm per the Airport Minimum 
Operating Standards portion of the Airport Rules. 
(b) 
Tenant shall comply with the notification and review requirements covered 
in Part 77 of the FAA Regulations in the event any future structure or building is planned for the 
Premises, or in the event of any planned material modification or alteration to the exterior of any 
present or future building or structure situated on the Premises. 
(c) 
Tenant shall not erect nor permit the erection of any structure or object, nor 
permit the growth of any tree, on the Premises that extends above a mean sea level elevation not 
approved by the FAA and Landlord.  In the event the aforesaid covenant is breached, Landlord 
reserves the right to enter upon the Premises, without prior notice, and remove the offending structure 
or object, or cut the offending tree, all of which shall be at the expense of Tenant. 
(d) 
Tenant shall not make use of the Premises in any manner that might interfere 
with the landing and taking off of aircraft from the Airport or otherwise constitute a hazard.  In the 
event the aforesaid covenant is breached, Landlord reserves the right to enter upon the Premises, 
without prior notice, and cause the abatement of such interference at the expense of Tenant. 
9. 
ADDITIONAL GENERAL CONDITIONS OF THE LEASE.   
 
9.1. 
AERONAUTICAL BUSINESS PERMIT.  Tenant acknowledges that the Airport 
Rules provide that no person shall conduct or operate any commercial aviation activity at the Airport 
without first obtaining an aeronautical business permit which must be in effect at the time the 
commercial aviation activity is performed.  Accordingly, Tenant agrees that, at all times during the 
Term, Tenant shall have and shall maintain a valid, effective aeronautical business permit.  
Furthermore, if any portion of the Premises is transferred, assigned or sublet, then said transferee, 
assignee or subtenant shall, at all times, have and shall maintain a valid, effective aeronautical 
business permit.  The fee charged and the fee payment made for the aeronautical business permit 
shall be pursuant to the Airport Rules and shall not be deemed rent under this Lease, but the failure 
to have such permit at any time during the Term shall constitute a material breach of this Lease.  
 
9.2. 
APPLICABLE LAWS.  Tenant’s rights under this Lease shall be subject to all of the 
following matters that are now in effect or that may be in effect in the future during the Term:  (i) 
applicable state and federal law; (ii) applicable city codes, ordinances, rules and regulations passed, 
adopted and/or approved by the Chandler City Council (including the Airport Rules and 
Regulations); and (iii) reasonable regulations established by the Airport Manager for the use and 
operation of the Airport. 
 
9.3. 
AIRSPACE RESERVATION.  There is hereby reserved to Landlord, for the use 
and benefit of the public, a right of flight for the passage of aircraft in the airspace above the 
surface of the Premises and the Airport, together with the right to cause in said airspace such noise

Page 13 of 37 
 
as may be inherent in the operation of aircraft, now known or hereafter used for navigation of or 
flight in the air, using said airspace for landing at, taking off from, or operating at the Airport. 
 
9.4. 
USA AGREEMENTS.  This Lease shall be subordinate to the provisions and 
requirements of any existing or future agreement between Landlord and the United States of 
America relative to the development, operation or maintenance of the Airport. 
 
9.5. 
NO EXCLUSIVE RIGHTS.  It is understood and agreed that nothing herein 
contained shall be construed to grant or authorize the granting of an exclusive right within the 
meaning of Section 308 of the Federal Aviation Act. 
 
9.6. 
USA EMERGENCY RIGHTS.  This Lease and all the provisions hereof shall be 
subject to whatever right the United States of America now has, or in the future may have or may 
acquire, affecting the control, operation, regulation, and taking over of the Airport for the exclusive 
or nonexclusive use of the Airport by the United States of America during a time of war or national 
emergency. 
 
10. 
INSURANCE; INDEMNITY. 
 
10.1. INSURANCE.  Tenant shall, at its sole cost and expense, procure and maintain 
from insurance companies, and in a form satisfactory to Landlord, the type and minimum amounts 
of insurance coverage Landlord deems applicable to Tenant’s aviation activity at the Airport and 
on the Premises.  Such required insurance is listed in attached Exhibit “C”.  Such required 
insurance is generally consistent with the insurance requirements under Section 11 of the Airport 
Rules; however, if there is any conflict between the provisions in Section 11 of the Airport Rules 
and the provisions of this Lease, including without limitation the provisions of Exhibit “C”, the 
provisions of this Lease shall control.  Each insurance policy shall name Landlord as an additional 
insured and shall provide for thirty (30) days prior written notice by the insurance company to 
Landlord in the event of cancellation of the policy or policies.  Evidence of such insurance shall 
be provided to Landlord promptly after a request therefor.  It is understood and agreed that, 
notwithstanding any other insurance requirement, hangar keeper’s liability insurance is required if 
aircraft are on the Premises for safekeeping, storage, service, or repair, and such insurance shall 
be in at least that minimum amount stated in attached Exhibit “C”. 
 
10.2. INDEMNIFICATION. 
(a) 
Tenant does hereby covenant and agree to indemnify and save harmless 
Landlord, its agents and employees, from any and all fines, suits, claims, demands, actions and/or 
causes of actions of any kind and nature for personal injury or death or property damage arising out 
of or resulting from any activity or operation of Tenant on the Premises or in connection with its use 
of the Premises; provided, however, that Tenant shall not be liable for any injury, damage or loss 
occasioned by the sole negligence or willful misconduct of Landlord, its agents or employees. 
Landlord shall give to Tenant prompt and timely notice of any claim made or suits instituted which 
in any way, directly or indirectly, contingently or otherwise, affects or might affect Tenant and 
Tenant shall have the right to compromise and defend the same to the extent of its own interest.

Page 14 of 37 
 
(b) 
Tenant hereby assumes all risk of, and waives all claim against Landlord, its 
agents and employees, for any loss, injury, death or damage to Tenant or Tenant’s property, or to 
other persons or property sustained while in, on or about the Premises, except where such loss, injury, 
death or damage is solely the result of the negligence or intentional acts of Landlord, its agents and 
employees. 
11. 
MAINTENANCE, REPAIRS AND ALTERATIONS. 
 
11.1. MAINTENANCE AND REPAIRS.  Tenant, at Tenant’s own expense, shall 
provide all maintenance and repair of the Premises and the improvements thereon.  All such 
maintenance shall be reasonably commensurate with a level of maintenance sufficient to maintain 
the improvements and the remainder of the Premises in a presentable condition consistent with 
good business practice and equal in appearance and character to other similar improvements at the 
Airport. 
(a) 
As part of its maintenance obligation, Tenant shall provide all janitorial and 
custodial services on the Premises and in the improvements thereon.  Whether Tenant shall elect 
to furnish such services itself or engage the services of a janitorial firm, all such janitorial services 
shall be commensurate with the level of such services provided for by Landlord in similarly 
situated circumstances. 
(b) 
Landlord, in order to maintain the Premises in the manner consistent with 
the general maintenance of the Airport or in order to maintain similar standards of custodial service 
throughout the Airport, may, but shall not be required to, assume some or all of the Tenant’s 
maintenance obligation, including, but not limited to, Tenant’s obligation for providing janitorial 
and custodial services, provided that Landlord shall first give written notice to Tenant, which shall 
advise Tenant of Tenant’s failure to provide proper maintenance, or failure to maintain the proper 
standard of janitorial and custodial service, and Tenant shall have failed adequately remedy the 
failure within thirty (30) days of the notice having been given.  In the event that Landlord does 
take over the maintenance obligation, Tenant shall be responsible for the reasonable expense 
incurred by Landlord in doing so. 
(c) 
ALTERATIONS.  Following completion of the New Improvements, Tenant 
shall make no structural additions, alterations or modifications to the Premises or the 
improvements thereon, nor shall Tenant install any fixtures (other than trade fixtures which can be 
removed without injury to the Premises or the improvements thereon), without first obtaining 
written approval of Landlord.  Landlord’s response to Tenant’s request for approval shall be 
prompt, and such approval shall not be unreasonably withheld.  Upon installation, Tenant shall 
furnish Landlord with a copy of the “as-built” drawings including utility installations and site plans 
detailing the nature of the additions, alterations or modifications.  Landlord reserves the right to 
have Tenant remove, at Tenant’s sole expense, all or any of such alterations, additions or 
modifications at the end of the Term. 
12. 
PUBLIC AIRPORT FACILITIES. 
 
12.1. LANDLORD’S CONTROL OF AIRPORT.

Page 15 of 37 
 
(a) 
Landlord reserves the right, in its sole discretion, to determine the nature 
and extent of the Public Airport Facilities. 
(b) 
Landlord has the right to establish and from time-to-time change, alter and 
amend the Airport Rules, or such other reasonable rules and regulations, as may be necessary or 
desirable for the proper and efficient operation and maintenance of the Airport and the Public 
Airport Facilities. 
(c) 
Landlord shall have the sole and exclusive control of the Public Airport 
Facilities, and may, at any time and from time to time during the Term, exclude any person from 
use or occupancy thereof. 
(d) 
Landlord shall have the right to make changes to the Public Airport 
Facilities or any part thereof, including, without limitation, changes in the location of the landing 
areas, the heliport, approach areas, runways, taxiways, and aircraft parking areas, as Landlord 
deems necessary or advisable for the proper and efficient operation and maintenance of the Public 
Airport Facilities. 
(e) 
Notwithstanding any of the provisions of this Paragraph 12.1, Landlord 
shall not make changes in the Public Airport Facilities that materially and adversely affect Tenant’s 
right of access and use of the Public Airport Facilities, except temporarily during periods of 
construction. 
12.2. MAINTENANCE.  Landlord shall maintain or cause to be maintained and repaired 
in good condition the Airport, including, without limitation, the landing areas, approach areas, 
runways, taxiways, aprons, aircraft parking areas, navigational and avigational aids, lighting 
facilities.  Landlord shall provide ramp cleaning and custodial services in the Public Airport 
Facilities portion of the Airport. 
 
13. 
ASSIGNMENT AND SUBLETTING. 
 
13.1. LANDLORD’S CONSENT REQUIRED.  Tenant shall not voluntarily or by 
operation of law, assign, transfer, mortgage, sublet, or otherwise transfer or encumber all or any part 
of Tenant’s interest in this Lease, in the Premises or in any of the improvements on the Premises, 
without Landlord’s prior written consent, such consent not to be unreasonably withheld or delayed.  
Any attempted assignment, transfer, mortgage, encumbrance, or subletting without such consent 
shall be void, and shall constitute a breach of this Lease.  Any transfer of any ownership interest in 
Tenant is a transfer subject to Landlord’s consent under this paragraph.  Notwithstanding the 
foregoing to the contrary, the prior approval of Landlord shall not be necessary for the assignment 
of the Lease to an entity owned or controlled by Tenant or by reason of a merger or consolidation of 
the Tenant with another corporation, including one formed by Tenant and created to carry on the 
purposes of Tenant (an “Exempt Transfer”).  In the event of an Exempt Transfer, notice to Landlord 
of the merger or consolidation shall be sufficient. 
 
13.2. LEASES/SUBLEASES.  Tenant will create a form lease for leases/subleases to be 
approved by Landlord.  Provided Tenant executes the approved forms for all hangars, no further 
Landlord approval of such leases/subleases is required.  Tenant will provide notice to Landlord

Page 16 of 37 
 
within ten (10) days of any transfer.  Should Tenant wish to deviate from the approved 
lease/sublease form, prior approval of Landlord is required.  
 
13.3. TRANSFER FEE.  For an assignment under Section 13.1 (not including an Exempt 
Transfer) or a sublease under Section 13.2 wherein the subtenant pre-pays the sublease rent for a 
term in excess of ten (10) years (each, a “Qualifying Transfer”), Tenant will pay Landlord a 
transfer fee equal to one percent (1%) (the “Transfer Premium”) of the monetary consideration 
paid to Tenant for such Qualifying Transfer (the “Transfer Consideration”). 
 
 
13.4. NO RELEASE OF TENANT.  Regardless of Landlord’s consent, no subletting or 
assignment shall release Tenant of Tenant’s obligations or alter the primary liability of Tenant to 
pay the rent and to perform all other obligations to be performed by Tenant hereunder.  The 
acceptance of rent by Landlord from any other person shall not be deemed to be a waiver by 
Landlord of any provisions hereof.  Consent to one assignment or subletting shall not be deemed 
consent to any subsequent assignment or subletting. 
 
13.5. TRUST DEED BENEFICIARIES AND MORTGAGEES.  Notwithstanding 
Paragraph 13.1, Landlord agrees that it will consent to Tenant’s assignment of this Lease (and the 
leasehold created hereby) for security purposes to a bona fide lender, but only under and pursuant 
to the terms and conditions contained in the form of City’s Consent and Agreement attached hereto 
as Exhibit “D”, which must be signed by such lender prior to Landlord’s consent being given. 
 
14. 
UTILITIES, TAXES, FEES AND EXPENSES.  Tenant shall pay all utilities used in its 
operation of the Premises at the Airport during the term of this Lease, and such utilities shall be on 
the basis of metered charges.  Tenant shall make timely payment of all taxes and assessments if any, 
levied against the Premises, or against Tenant’s business operation at the Premises.  Tenant shall be 
responsible for payment of all fees and expenses for all permits and licenses necessary for the 
conduct of Tenant’s business upon the Premise during the Term. 
 
15. 
DAMAGE OR DESTRUCTION OF PREMISES.  In the event that the Premises, the 
improvements thereon or the Public Airport Facilities are so damaged that the Premises can 
reasonably be deemed untenable or unusable by Tenant, there shall be a reasonable and proportionate 
abatement of the rentals, fees, and charges provided for herein during the period that the same are so 
untenable or unusable. 
 
16. 
DEFAULTS; REMEDIES. 
 
16.1. DEFAULTS BY TENANT.  Except as provided in Paragraph 17 below, the 
occurrence of any one or more of the following events shall constitute a material default and breach 
of this Lease by Tenant (a “Tenant Default”): 
(a) 
Intentionally Omitted. 
(b) 
The failure by Tenant to make any payment of rent or any other payment 
required to be made by Tenant within fifteen (15) days of the date when due.

Page 17 of 37 
 
(c) 
 The failure by Tenant to observe or perform any of the covenants, conditions 
or provisions of this Lease to be observed or performed by Tenant, other than described in Paragraph 
16.1(b) above, where such failure continues for a period of thirty (30) days after written notice 
thereof from Landlord to Tenant.  Provided, however, that if the nature of Tenant’s obligation is such 
that more than thirty (30) days are required for performance, then Tenant shall not be in default if 
Tenant commences performance within such thirty (30) day period and thereafter diligently 
prosecutes the same to completion. 
(d) 
Any of the following:  (i) the making by Tenant of any general assignment or 
general arrangement for the benefit of creditors; (ii) the filing by or against Tenant of a petition to 
have Tenant adjudged bankrupt or a petition for reorganization or arrangement under any law 
relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed 
within sixty (60) days); (iii) the appointment of a trustee or receiver to take possession of 
substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where 
possession is not restored to Tenant within thirty (30) days; or (iv) the attachment, execution, or other 
judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest 
in this Lease, where such seizure is not discharged within thirty (30) days. 
(e) 
The chronic delinquency by Tenant in the payment of monthly rental, or any 
other periodic payment required to be paid by Tenant under this Lease.  “Chronic delinquency” shall 
mean failure by Tenant to pay monthly rental, or any other periodic payment required to be paid by 
Tenant under this Lease, within fifteen (15) days as described in Paragraph 16.1(b) above, for any 
three (3) months (consecutive or nonconsecutive) during any twelve (12) month period during the 
Term.  In the event of a chronic delinquency, at Landlord’s option, Landlord shall have the additional 
right to require that monthly rental be paid by Tenant quarter-annually, in advance, for the remainder 
of the Term. 
16.2. REMEDIES.  In the event of a Tenant Default, Landlord at any time thereafter, with 
or without notice or demand (except as set forth below) and without limiting Landlord in the exercise 
of any other right or remedy which Landlord may have by reason of such default or breach, may: 
 
(a) 
Terminate this Lease by any lawful means, in which case Tenant shall 
immediately surrender possession of the Premises to Landlord.  In such event, Landlord shall be 
entitled to recover from Tenant all damages incurred by Landlord by reason of such Tenant Default 
including, but not limited to, the cost of recovering possession of the Premises and the expenses of 
reletting, including necessary renovations and alteration of the Premises; provided that Landlord 
may not terminate this Lease or Tenant’s right of possession unless, after a Tenant Default, 
Landlord delivers notice of Landlord’s intent to so terminate (which notice will be in addition to 
any notice required under Section 16.1) and Tenant fails to cure such Tenant Default within ten 
(10) day after receipt of the notice). 
 
(b) 
Pursue any other or additional remedy now or hereafter available to Landlord 
under the laws of the State of Arizona, including, without limitation, the imposition of a landlord’s 
lien against any property located within the Premises. 
 
(c) 
The remedies set forth herein shall be deemed cumulative and not exclusive.

Page 18 of 37 
 
(d) 
No waiver of default by Landlord of any of the terms, covenants or conditions 
hereof required to be kept and observed by Tenant shall be construed to be or act as a waiver by 
Landlord of any subsequent default of any of the terms, covenants and conditions herein contained 
to be performed, kept and observed by Tenant. 
 
(e) 
In the event of any termination of the Lease described in this Section 16.2, 
and provided that such subtenants attorn to Landlord, Landlord will recognize all validly existing 
subleases for the remaining term of such subleases. 
 
16.3. DEFAULT BY LANDLORD. 
(a) 
Landlord shall not be deemed in default unless Landlord fails to perform any 
obligation required by Landlord within a reasonable time, but in no event later than thirty (30) days 
after Landlord’s receipt of a written notice from Tenant to Landlord that specifies the obligations 
that Tenant alleges Landlord has failed to perform.  If the nature of Landlord’s obligation is such 
that more than thirty (30) days are required for performance, then Landlord shall not be in default if 
Landlord commences performance within such 30-day period and thereafter diligently prosecutes 
the same to completion. 
(b) 
In the event of any material default or breach by Landlord, Tenant may take 
whatever steps are permitted under applicable law to terminate this Lease and/or to recover its 
damages from Landlord. 
(c) 
No waiver of default by Tenant of any of the terms, covenants or conditions 
hereof required to be kept and observed by Landlord shall be construed to be or act as a waiver by 
Tenant of any subsequent default of any of the terms, covenants and conditions herein contained to 
be performed, kept and observed by Landlord. 
16.4. CANCELLATION BY TENANT.  In addition to any other right of cancellation 
herein given by Landlord or any other rights to which Tenant may be entitled by law or otherwise, 
Tenant may cancel this Lease in whole or in part and terminate all of its obligations hereunder at any 
time that Tenant is not in default in its payments to Landlord hereunder, by giving Landlord thirty 
(30) days advance written notice to be served as hereinafter provided, upon or after the happening 
of any one of the following events: 
 
(a) 
The failure or refusal of the Federal Aviation Administration, at any time 
during the Term of this Lease, to permit Tenant to operate into or from the Chandler Municipal 
Airport. 
 
(b) 
Issuance, by any court of competent jurisdiction, of an injunction in any way 
preventing or restraining the use of the Airport or any part thereof for airport purposes which affects 
Tenant’s operation; and the remaining in force of such injunction for a period of at least ninety (90) 
days if the injunction materially affects Tenant’s normal operations. 
 
(c) 
The inability of Tenant to use, for a period in excess of ninety (90) days, the 
Airport or any of the premises, facilities, rights licenses, services, or privileges leased to Tenant 
hereunder because of any law or order, rule, regulation, or other action or any inaction of the

Page 19 of 37 
 
Federal Aviation Administration or any other governmental authority, or because of fire, 
earthquake, or other casualty or acts of God or the public enemy. 
 
(d) 
The assumption by the United State Government or any authorized agency 
thereof of the operation, control, or use of the Airport and facilities, or any substantial part or parts 
thereof, in such a manner as substantially to restrict Tenant for a period of at least ninety (90) days, 
from operating thereon for the conduct of Tenant’s normal business. 
 
16.5. CITY'S RIGHT OF CANCELLATION UNDER A.R.S. §38-511.  The Parties 
further acknowledge that this Lease is subject to cancellation by the Landlord pursuant to the 
provisions of Section 38-511, Arizona Revised Statutes. 
 
17. 
CONDEMNATION.  If the Premises is taken under the power of eminent domain, or sold 
under the threat of the exercise of said power (all of which are herein called “condemnation”) to 
such an extent as to render the Premises un-tenantable, either Landlord or Tenant shall have the 
option to terminate this Lease effective as of the date the condemning authority takes title or 
possession, whichever first occurs.  If condemnation does not render the Premises un-tenantable, 
this Lease shall continue in effect, and Landlord shall promptly restore the portion of the Premises 
not taken to the extent possible to the condition existing prior to the condemnation.  If, as a result 
of such restoration, the area size of the Premises is reduced, the rental shall be reduced 
proportionately.  All condemnation proceeds shall be paid to Landlord, and Tenant waives all 
claims against such proceeds; provided, however, that Tenant shall be entitled to any award 
separately designated for Tenant's relocation expenses, or for damage to or taking of Tenant's trade 
fixtures or other personal property; and further provided that Tenant shall be entitled to the portion 
of the condemnation proceeds attributable to the taking of any of the improvements on the 
Premises while the Term of this Lease is in effect, but not to any such proceeds awarded to 
compensate for severance damages or costs to cure harm to the remainder of the Premises as a 
result of condemnation.  
 
18. 
SUSPENSION AND ABATEMENT; FORCE MAJEURE.  In the event that Landlord’s 
operation of the Airport, or Tenant’s operations at the Airport, is restricted substantially by action of 
the Federal Government, or any agency thereof, then either party hereto shall have the right, upon 
written notice to the other, to a suspension of this Lease and an abatement of a just proportion of the 
services and facilities to be afforded hereunder, or a just proportion of the payments to become due 
hereunder, from the time of such notice until such restrictions shall have been remedied and normal 
operations restored. 
 
19. 
QUIET ENJOYMENT.  Landlord agrees that, on payment of the rent and performance of 
the covenants and agreements on the part of the Tenant to be performed hereunder and subject to 
any conditions stated in this Lease, Tenant shall peaceably have and enjoy the Premises and all the 
rights and privileges of the Airport, its appurtenances and facilities granted herein. 
 
20. 
SURRENDER OF POSSESSION.  Upon the expiration of the Term or earlier termination 
of this Lease, Tenant’s right to use the Premises and the improvements thereon, and any right of 
access and use of the Public Airport Facilities provided under this Lease, shall cease and Tenant shall

Page 20 of 37 
 
forthwith upon such expiration or termination surrender the same and leave the Premises in good 
condition except for normal wear or tear.   
 
21. 
GENERAL PROVISIONS. 
 
21.1. DEFINITIONS OF TERMS.  All definitions contained within Airport Ordinance 
No. 1426 and the Federal Aviation Act of 1958 including all amendments thereto shall be 
considered as included herein. 
 
21.2. INSPECTION BY LANDLORD.  Following reasonable advanced notice, Landlord 
may enter upon the Premises at any reasonable time for any purpose necessary, incidental to, or 
connected with the performance of its obligations hereunder, or in the exercise of its governmental 
functions, or for fire protection or security purposes. 
 
21.3. NOTICE.  Any notice, request, demand, statement, consent or other 
communication herein required or permitted to be given by either party to the other party 
hereunder, shall be in writing signed by or on behalf of the party giving the notice and addressed 
to the other party at the address as set forth below: 
 
To Landlord:  
Airport Manager 
 
 
 
 
Chandler Municipal Airport 
 
 
 
 
 
2380 South Stinson Way 
 
 
 
 
 
Chandler, Arizona 85286 
 
 
Fax No.: (480) 782-3541 
 
 
 
With a copy to: 
City Attorney 
 
 
 
 
 
City of Chandler 
 
 
 
 
 
Mail Stop 602, Post Office Box 4008 
 
 
 
 
 
Chandler, Arizona 85244-4008 
 
 
 
 
 
Fax No.: (480) 782-4652 
 
 
 
To Tenant: 
 
Jon Wenrich 
 
 
 
 
 
600 1st Ave Ste 330 PMB 74172 
 
 
 
 
 
Seattle, WA 98104 
 
 
 
 
 
Telephone No.: 971-300-6780 
Email: jon.wenrich@fbocap.com 
 
 
 
 
 
With a copy to: 
Buchalter LLC 
 
 
 
 
 
Attention:  Ian Taylor 
 
 
 
 
 
600 University Street, Suite 3100 
 
 
 
 
 
Seattle, Washington 98101-3126 
 
 
 
 
 
Email: itaylor@buchalter.com 
 
 
 
Each party may by notice in writing change its address for the purpose of this Lease, which 
address shall thereafter be used in place of the former address.  Each notice, demand, request, 
consent or other communication which shall be given to any of the aforesaid shall be deemed

Page 21 of 37 
 
sufficiently given, served, or sent for all purposes hereunder:  (i) two (2) business days after it shall 
be mailed by United States registered or certified mail, postage prepaid and return receipt 
requested, in any post office or branch post office regularly maintained by the United States Postal 
Service; (ii) upon personal delivery or upon direct facsimile transmission; or (iii)  one (1) business 
day after deposit with any recognized commercial air courier or express service.  Any 
communication made by e-mail or similar method shall not constitute notice pursuant to this Lease. 
21.4. ENTIRE AGREEMENT.  This document contains the entire agreement between 
the parties hereto, and no term or provision hereof may be amended, changed, waived, discharged 
or terminated unless the same is in writing executed by both parties hereto. 
 
21.5. APPLICABLE LAW.  Arizona law shall govern the construction, performance and 
enforcement of this Lease. 
 
21.6. TIME OF ESSENCE.  Time shall be of the essence in the performance of every 
term, covenant and condition of this Lease. 
 
21.7. HEADINGS.  The paragraph headings contained herein are for convenience in 
reference and are not intended to define or limit the scope of any provision of this Lease. 
 
21.8. WRITING.  Any and all approvals, consents, and notices called for in this Lease shall 
be in writing. 
 
21.9. BINDING EFFECT.  All the covenants, stipulations and agreements in this Lease 
shall extend to and bind the legal representatives, successors and assigns of the respective parties 
hereto. 
 
21.10. SEVERABILITY.  In the event that any covenant, condition, or provision 
contained in this Lease is held to be invalid by any court of competent jurisdiction, the 
invalidity of any such covenant, condition or provision shall in no way affect any other 
covenant, condition or provision herein contained; provided that the invalidity of any such 
covenant, condition or provision does not materially prejudice either Landlord or Tenant 
in their respective rights and obligations contained in the valid covenants, conditions or 
provisions of this Lease. 
 
21.11. NO RECORDING; MEMORANDUM OF LEASE.  Without the prior written 
consent of Landlord, this Lease shall not be placed of record.  However, upon execution hereof, 
the Parties shall execute and cause to be recorded a Memorandum of Lease substantially in the 
form attached hereto as Exhibit “E” in order to give notice of the Lease. 
 
21.12. EXHIBITS AND INCORPORATION.  The following exhibits, which are attached 
hereto or are in the possession of the Landlord and Tenant, are incorporated herein by reference as 
though fully set forth: 
 
Exhibit "A" 
Premises Legal Description 
Exhibit "B" 
Diagram of Premises and Surrounding Airport Features

Page 22 of 37 
 
Exhibit "C" 
Required Insurance 
Exhibit "D" 
City’s Consent and Agreement 
Exhibit “E” 
Memorandum of Lease

Page 23 of 37 
IN WITNESS WHEREOF, the parties hereto have caused this Lease to be executed 
as of the day and year first above written. 
LANDLORD:  
CITY OF CHANDLER, an Arizona municipal 
corporation 
By:  
Kevin Hartke 
Its: Mayor 
TENANT: 
CHD CURTIS EAST LLC, 
an Arizona limited liability company 
By _______________________ 
Name: ____________________ 
Its: _______________________ 
APPROVED AS TO FORM 
City Attorney 
Jonathan M. Wenrich
CEO of Manager

Page 24 of 37 
 
EXHIBIT A 
 
PREMISES LEGAL DESCRIPTION

Page 25 of 37 
 
EXHIBIT B 
 
DIAGRAM OF THE PREMISES AND 
SURROUNDING AIRPORT FEATURES

Page 26 of 37 
 
EXHIBIT C 
 
REQUIRED INSURANCE 
 
A. 
From and after the Effective Date of this Lease, Tenant shall carry, at Tenant’s sole cost 
and expense, the following types of insurance, in the amounts specified or in such higher amounts 
as are customary as a result of increases in standard liability coverage resulting from the passage of 
time during the term of the Lease: 
 
1. 
General Liability insurance in the amount of $2,000,000 per occurrence and 
$2,000,000 annual aggregate. Such insurance shall contain contractual liability insurance 
covering applicable leases, licenses, permits, or agreements.  
 
2. 
Where applicable, business automobile liability insurance for all owned, non-
owned and hired vehicles assigned to or used in performance of commercial aeronautical 
activities in the amount of a least $1,000,000 per occurrence. 
 
3. 
Fire and extended property coverage for all improvements and fixtures on the 
Premises in an amount not less than the full replacement cost thereof, to the extent of 
Tenant’s insurable interest in the Premises. 
 
4. 
Where applicable, worker’s compensation insurance as required by law and 
employers liability insurance in the amount of $100,000 per accident, $100,000 disease per 
person, $500,000 disease policy limit.  
 
5. 
Aircraft liability insurance in the amount of at least $1,000,000 per occurrence. 
 
6. 
Hangar keeper’s liability insurance in the amount of at least $500,000 per 
occurrence, or more as values require. 
 
7. 
Where applicable, fueling products-completed liability insurance in the amount of 
at least $5,000,000 per occurrence.  
 
8. 
Where applicable, products-completed operations liability insurance in the amount 
of at least $2,000,000 per occurrence.  
 
9. 
Where applicable, chemical and environmental clean-up liability insurance in the 
amount of at least $1,000,000 per occurrence or such greater or lesser amount of coverage 
as approved in writing by the City of Chandler Risk Manager.  
 
10. 
Where applicable, Non-Owner/Renter/Student pilot liability in the amount of at 
least $100,000 per occurrence.  
 
11. 
Such other insurance as the City’s Risk Manager may reasonably determine to be 
necessary for commercial aviation operator’s activities conducted at or upon the Premises.

Page 27 of 37 
 
 
B. 
All insurance policies cited herein shall contain a waiver of subrogation rights endorsement 
with respect to Landlord.  
 
C. 
All insurance shall be in a form and from an insurance company with a Best’s financial 
rating of at least B ++ 6.  All policies, except worker’s compensation policy, shall name Landlord, 
and Landlord’s elected or appointed officials, officers, representatives, directors, commissioners, 
agents and employees, as "Additional Insureds," and the Tenant shall furnish certificates of 
insurance evidencing the required coverage cited herein on or before the Effective Date. Such 
certificates shall provide for unequivocal thirty (30) day notice of cancellation or material change 
of any policy limits or conditions.  
 
D. 
All insurance policies must remain in force and effect at all times during the Term of this 
Lease.  If any required insurance coverage is not in force and effect during the Term of this Lease, 
Tenant permit period, the commercial aviation operator shall cease all commercial aviation 
activities and other activities that allowed under the permit until the appropriate insurance coverage 
is reinstated.

Page 28 of 37 
 
EXHIBIT D 
CITY'S CONSENT AND AGREEMENT 
(For Financing Purposes) 
 
Description of Ground Lease.  
 
"City":  
 
City of Chandler, an Arizona municipal corporation 
 
"Tenant": 
___________________________________ 
 
"Lease": 
 
Ground Lease dated __________________   
 
"Leasehold": 
Tenant's interest in the Lease and all Leasehold 
Improvements  
"Lender": 
 
__________________________________  
 
 
 
 
 
__________________________________  
 
 
 
 
 
__________________________________  
 
 
 
 
 
__________________________________   
 
 
 
NOW, THEREFORE, City and Lender represent, warrant, covenant and agree as follows:  
1. 
Consents.  City hereby consents to the assignment of Tenant's interest in the 
Leasehold to Lender for security purposes under the Lender's Deed of Trust upon closing of the loan. 
Herein the term "Deed of Trust" shall mean the Lender's Deed of Trust as may be applicable and the 
"Lender" shall mean ___________________, as its/their interests appear in the Deed of Trust. 
 
2. 
Status of Lease.  A true and correct copy of the Lease, together with all amendments, 
supplements, and modifications thereto, is attached as Schedule A to this Agreement. The Lease is 
presently in full force and effect, is valid and enforceable according to its terms and has not been 
modified or amended in any way except as shown on the copy of the Lease attached hereto.  The 
Lease includes a description of the land and improvements to which the Leasehold applies (herein, 
the “Leased Premises”).  
 
3. 
Non-Default.  Tenant is not in default (a) in the payment of rent or any other 
amounts due and payable by Tenant to City under the Lease or (b) to the actual knowledge of City, 
in the observance or performance of any other covenant or condition to be observed or performed 
by Tenant under the Lease. To the actual knowledge of City, no event has occurred which now 
does or hereafter will authorize City to terminate the Lease.

Page 29 of 37 
 
4. 
Right to Foreclose Deed of Trust.  Lender recognizes that any Deed of Trust taken 
by Lender affects and applies only to Tenant's interest in the Leasehold and that City will not 
permit any security interest to be taken in any of its land or to encumber its fee interest in any of 
its land.  In the event of default by Tenant under the terms of the Deed of Trust, Lender may 
enforce or foreclose the Deed of Trust including the acceptance of a Deed in Lieu of Foreclosure. 
City agrees that in connection with any such foreclosure, Lender may:  
 
4.1. 
Acquire Tenant’s interest in the Leasehold either by Deed in Lieu of 
Foreclosure or by actual foreclosure (judicial or non-judicial) without further consent of City, 
subject to the requirements of Paragraph 6 below; 
 
4.2. 
Rent the Leased Premises pending foreclosure of the Leasehold by Lender 
without further consent of City; and 
 
4.3. 
Assign and sell the Leasehold in whole or in part to any person or entity, 
subject to the requirements set forth in Paragraph 11 below.  
 
In the event the successful purchaser at the foreclosure sale is a person or entity other than Lender, 
such purchaser shall not automatically succeed to Tenant's interest in the Leasehold, but must first 
qualify as an acceptable party as set forth in Paragraph 11 below and Lender agrees to insert the 
following language in its Deed of Trust:  "Trustee's and Beneficiary's right to sell/assign the 
Leasehold interest secured by this Deed of Trust upon foreclosure to any person other than 
Beneficiary, is limited to such person reasonably being approved by the City of Chandler pursuant 
to that certain 'City's Consent and Agreement' between the City of Chandler and Beneficiary." 
 
5. 
Surrender of the Leased Premises.  No surrender of the Leased Premises or any 
other act of Tenant shall be deemed to terminate the Lease and City will not terminate voluntarily 
the Lease by agreement with Tenant unless Lender has been previously notified in writing and has 
consented to the termination in writing.  
 
6. 
Notice of Default and Lender's Rights. 
 
6.1. 
Notice of Default.  In the event of a Tenant Default or if any other event 
occurs which would give City the right to terminate, modify, amend or shorten the term of the 
Lease, City shall take no steps to exercise any right it may have under the Lease without first 
giving Lender written notice of such default. A copy of each and every Notice of Default served 
or sent by City or its agent to or upon Tenant pursuant to the Lease shall be sent 
contemporaneously to Lender in accordance with Paragraph 18 below. Such Notice of Default 
shall specify the event or events of default then outstanding and the time period at the end of 
which the indicated action would become effective. 
  
6.2. 
Termination for Monetary Default.  If the Notice of Default given by City 
to Lender relates to a monetary default and Tenant has not cured such monetary default within 15 
days as provided in the Lease, subject to any additional notice and cure periods set forth in the 
Lease, and Tenant's failure to cure results in City desiring to terminate the Lease, City may

Page 30 of 37 
 
terminate the Lease if such monetary default is not cured by either Tenant or Lender within twenty 
(20) days of Lender's receipt of Notice, and kept current thereafter.  
 
6.3. 
Termination for Non-Monetary Default.  If the notice given by City to 
Lender relates to a non-monetary default and Tenant has not cured such non-monetary default 
within the 30-day period specified in the Lease, City shall take no action to terminate the Lease 
if:  
 
6.3.1. Within 20 days after City's notice to Lender of Tenant's failure to 
cure (or failure to diligently pursue a cure) Lender notifies City of its intent to realize upon its 
security interest and commences realization within 60 days thereafter, and diligently pursues 
realization; and  
 
6.3.2. Lender notifies City that it will assume the Lease when Lender is 
legally entitled to the ownership and/or possession of Tenant's interest in the Leasehold; and  
 
6.3.3. Lender pays City at time of notification all back rent or other monies 
or performances due that may be in default up to the date Lender notifies City of Lender's intent 
and further pays all rent that accrues during the period after Lender so notifies City and completes 
such other performances that may be required or come due under the Lease.  
 
7. 
Termination Due to Bankruptcy.  City shall not terminate the Lease because of 
Tenant's breach of any term(s) of the Lease relating to the solvency of Lessee or the institution of 
any bankruptcy, insolvency, receivership or related action by or against Lessee as long as Lender 
cures any default under the Lease by Tenant as provided in this Consent and Agreement.  
 
8. 
Failure to Cure Default.  If the non-monetary default is of a nature which requires 
immediate abatement as a result of which Lender would not normally pursue realization on the 
collateral, and Tenant has not taken steps to immediately cure the default, the Lender must take 
immediate steps to cure such default within ten (10) days of receipt of notice or else the City may 
terminate the Lease.  
 
9. 
Release of Deed of Trust.  Upon termination of the Lease as provided herein, 
Lender shall release its Deed of Trust within fifteen (15) days thereafter.  
 
10. 
Assumption of the Lease.  If Lender acquires the interest of Tenant at any time or 
takes possession of the collateral, then Lender shall formally assume the Lease within twenty (20) 
days thereafter. Failure to so assume the Lease shall give City the right to immediately terminate 
the Lease.  
 
11. 
Right to Assign.  Lender shall not have the right to assign its interest in the 
Leasehold nor, in the case of a foreclosure under the Deed of Trust, shall the Trustee under the 
Deed of Trust transfer the Leasehold to any person or entity (other than Lender) without first 
obtaining the written consent of City or such assignment or transfer, which consent will not be 
unreasonably withheld or delayed provided that Lender (i) has disclosed to City the identity of the 
proposed purchaser, assignee or transferee; (ii) shown to City that the purchaser's, assignee's or

Page 31 of 37 
 
transferee's credit standing would reasonably be acceptable to a commercially prudent lender; and 
(iii) provided evidence to City that the use of the Leasehold by such purchaser, assignee or 
transferee will be consistent with the terms of the Lease or Lessee's prior use of the Leasehold. 
Upon the purchaser's, assignee's or transferee's assumption and agreement to perform and to be 
bound by all of the terms of the Lease, Lender shall be relieved of further liability under the Lease.  
However, if Lender finances the purchaser, assignee or transferee, Lender shall again be subject 
to all the obligations set forth in this Agreement.  
 
12. 
Disposition of Insurance and Condemnation Proceeds.  City shall be named as 
an additional insured under any of Tenant's casualty policies on the Leased Premises to the extent 
of the interests stated in this Paragraph 12. Should the Leased Premises suffer any loss which is 
covered by casualty insurance, and the insurance proceeds are used to restore any improvements 
made by Tenant, City agrees that Tenant and Lender shall have the right to such proceeds so long 
as none of City's property, utilities or other services therein are damaged or such damages are 
repaired. In the event the Leased Premises are substantially damaged and Tenant's improvements 
have been repaired, City shall only participate in the insurance proceeds to the extent necessary to 
repair and restore the land and any of City's or Tenant's improvements (excluding buildings and 
personal property) on or in the ground to the same condition that the land was in at the 
commencement of the Lease, or in the same condition as at the time of the casualty. Under the 
Lease, City has the option of requiring Tenant to demolish the Improvements at the end of the 
lease term, or to have Tenant convey title to City of Tenant's interests in the Leasehold 
Improvements. In the event the Leased Premises and the Leasehold are so severely damaged that 
Tenant's and Lenders' decision is not to repair or restore the Leased Premises, City shall participate 
in the insurance proceeds to the extent necessary to remove the remainder of the damaged 
improvements and to restore the Leased Premises and any utilities or other such improvements 
(excluding rebuilding the improvements or restoring other personal property of Tenant) to the same 
condition the land was in at the commencement of the Lease, or in the same condition as at the 
time of the casualty. Other than as described herein, City shall have no claim to insurance proceeds 
or condemnation proceeds that are attributable to Tenant's interest in the Leasehold, nor shall 
Lender have any interest in City's condemnation proceeds, if any.  
 
13. 
Right to Participate in Litigation.  Lender shall have the right to participate in 
any litigation, arbitration or dispute directly affecting the Leased Premises or the interests of 
Tenant or Lender therein, including without limitation, any suit, action, arbitration proceeding, 
condemnation proceeding or insurance claim. City, upon instituting or receiving notice of any such 
litigation, arbitration or dispute will promptly notify Lender of the same.  
 
14. 
Incorporation of Mortgagee Protection Provisions.  To the extent not 
inconsistent with this Agreement, all provisions of the Lease that by their terms are for the benefit 
of any leasehold mortgagee, are hereby incorporated herein for the benefit of Lender.  
 
15. 
Right to Remove Collateral.  In the event Lender exercises its rights under its 
collateral and realizes upon the collateral, City agrees that Lender is entitled to remove Tenant's 
furniture, movable trade fixtures and equipment installed by Tenant from the Leased Premises at 
any reasonable time and that the collateral shall remain personal property even though the trade 
fixtures may be affixed to or placed upon the Leased Premises.  "Trade fixtures" means the

Page 32 of 37 
 
movable personal property of Tenant which is free standing or attached to floors, walls or ceiling, 
but does not include installed light fixtures, floor coverings, doors, windows, heating, plumbing 
or electrical systems or components thereof, including any roof-mounted HVAC equipment and/or 
units thereof, or permanent walls or partitions installed by Tenant.  In the event Lender so realizes 
on its collateral, City waives any right, title, claim, lien or interest in the above trade fixtures by 
reason of such fixtures being attached to or located on the Leased Premises. Lender shall use 
reasonable care in removing the trade fixtures from the premises and shall repair any damage that 
may result from such removal which shall be completed accordance with the terms of the Lease.  
 
16. 
Interpretation of Agreement.  This Agreement sets forth the complete 
understanding of Lender with respect to this transaction; may be amended only in writing signed 
by the parties; and, without limiting the generality of the foregoing shall not be deemed modified 
by any course of dealing. No provision in the Deed of Trust, or in any other document executed 
by or for the Lender or Tenant to which City is not a party, shall vary, modify or expand the 
covenants herein contained.  In the event of any conflict between the terms of this Agreement and 
the Lease, this Agreement shall control. 
17. 
Fees & Costs.  In the event of litigation or arbitration between the parties to enforce 
or interpret this Agreement, the arbitrator, Board of Arbitration or Judge, as may be appropriate, may 
award the prevailing party in such arbitration or litigation a reasonable attorney's fee not to exceed 
20 percent of the amount in controversy, plus costs and costs of collection.  
 
18. 
Notices.  All notices, copies of notices, consents or other communications given 
hereunder shall be in writing and may be given in person, by registered or certified United States 
mail, by delivery service, or by telephone facsimile.  Any notice given to a party shall be deemed 
effective upon the earliest of the following: (a) actual receipt by that party; (b) personal delivery 
to the designated address of that party, addressed to that party; (c) delivery by overnight courier; 
(d) telephone facsimile with receipt confirmed; or (e) if given by certified or registered United 
States mail, forty-eight (48) hours after deposit with the United States Postal Service, Postage 
Prepaid, addressed to that party at its designated address.  The designated address of a party shall 
be the address of the party shown below or such other address as that party, from time to time, 
may specify by written notice to the other party: 
 
If to Lender: ____________________________ 
____________________________ 
____________________________ 
____________________________ 
 
If to City:  
Airport Manager  
Chandler Municipal Airport  
2380 South Stinson Way 
Chandler, Arizona 85286 
Fax No.: (602) 782-3541  
 
With copy to: City Attorney  
City of Chandler

Page 33 of 37 
 
Mail Stop 602, Post Office Box 4008 
Chandler, Arizona 85244-4008 
Fax No.: (602) 782-4652  
 
IN WITNESS WHEREOF, the City has executed these presents this _____ day of 
_________, 2026. 
  
CITY OF CHANDLER, an Arizona municipal 
corporation  
By:  _________________________________  
 
 
 
 
 
 
 
Its:  _________________________________  
 
 
Mayor  
 
APPROVED AS TO FORM 
 
 
 
 
 
City Attorney 
 
ATTEST: 
 
________________________ 
City Clerk 
 
AGREED to this ______ day of _______________, 2026.  
 
LENDER: _________________________________ 
By:  _____________________________________   
 
 
 
 
 
 
 
Its:  ______________________________________

Page 34 of 37 
 
SCHEDULE A 
To City's Consent and Agreement (Exhibit ____) 
 
 
Copy of Lease

Page 35 of 37 
 
EXHIBIT E 
MEMORANDUM OF LEASE 
 
When recorded, return to: 
 
 
This Memorandum of Lease is made as of this ____ day of ____________, 2026, by and between 
the City of Chandler, an Arizona municipal corporation, with an office at the Chandler Municipal 
Airport, 2380 South Stinson Way, Chandler, Arizona 85286 (hereinafter referred to as “Landlord”) 
and _______________________________ (hereinafter referred to as “Tenant”). 
1. 
Landlord and Tenant have entered into a lease agreement identified as Airport Lease 
Contract No. _____ (the “Lease”) on the ____ day of ______________, 2026, pursuant to which 
Tenant is permitted to make use and take possession of certain undeveloped real property for 
specified commercial aviation activities, all as set forth in the Lease. 
 
2. 
The term of the Lease is for twenty years commencing on _______, the “Effective Date” 
of the Lease, and terminating on the last day of ________, the __the anniversary of the Effective 
Date. 
 
3. 
The real property leased to Tenant under the Lease is described in attached Exhibit “A”. 
 
4. 
This Memorandum of Lease may be executed in counterparts, which together shall 
constitute a single instrument. 
 
IN WITNESS WHEREOF, the parties have executed this Memorandum as of the date specified 
above. 
 
LANDLORD:  CITY OF CHANDLER, 
an Arizona municipal corporation 
 
By:  _______________________ 
Its:  _______________________ 
TENANT:  _________________________ 
__________________________________ 
 
By:  _________________________  
Its:  _________________________

Page 36 of 37 
 
STATE OF ARIZONA 
) 
 
 
 
 
) ss. 
County of Maricopa 
 
) 
 
 
The foregoing instrument was acknowledged before me this ____ day of _____________, 
2026, by _______________________________, who acknowledge himself/herself to be the 
________________________ of the CITY OF CHANDLER, an Arizona municipal corporation. 
 
 
 
 
 
 
 
_______________________ 
 
 
 
 
 
 
Notary Public 
My Commission Expires: 
 
_____________________ 
 
STATE OF ARIZONA 
) 
 
 
 
 
) ss. 
County of Maricopa 
 
) 
 
 
The foregoing instrument was acknowledged before me this ____ day of _____________, 
2026, by _______________________________, who acknowledge himself/herself to be the 
________________________ of _______________, a(n) _________________. 
 
 
 
 
 
 
 
_______________________ 
 
 
 
 
 
 
Notary Public 
My Commission Expires: 
 
_____________________ 
 
APPROVED AS TO FORM: 
_______________________  
City Attorney

Page 37 of 37 
 
EXHIBIT F 
NEW IMPROVEMENTS 
 
 
• Total exterior Footprint Square Foot Minimum: 87,957 s/f 
• Minimum Number of Standard Executive Hangars: 10 (approximately 2,700 sf) 
• Minimum Number of Large Executive Hangars: 4 (approximately 4,900 s/f) 
• Minimum Number of XL Executive Hangars: 2 (approximately 7,000 s/f)