Harrell Field MS08
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Central Mississippi Light Flyers
Fly For Fun! CMLF
Harrell Field - Hangar Construction Agreement
For all hangars constructed after July 1, 2013
PARTIES: This agreement is entered into between ________________________ (BUILDER) and Central Mississippi Light Flyers Inc. (CMLF).
BUILDER agrees to build a hangar on the subject property owned by CMLF, subject to the terms and conditions of this agreement.
SUBJECT PROPERTY: Ground space located on Harrell Field (MS08), Harrell Drive, Brandon, Mississippi 39047. The specific location of this ground space for the hangar is to be made by the CMLF board.
BUILDER may build a hanger on subject property under the following terms and conditions:
1.BUILDER must be a current member of CMLF.
2.The CMLF Board must approve the hangar construction plans and the specific location of the hangar on subject property before construction begins.
a.The hangar will be of quality construction with plans and specifications to be approved by the CMLF Board.
b.Electricity and water will be at BUILDERís expense.
3.After construction begins, if progress halts or appears abandoned after a reasonable period of time, for whatever reason, the CMLF Board will decide on appropriate action.
4.The BUILDER will have 5 rent free years dating from July 1st of the year that CMLF Board approves this agreement. After 5 rent free years, the hanger is the property of CMLF. Any other aircraft on subject property not owned by BUILDER must sign a Harrell Field Rental Agreement and pay rent from day one.
5.During the 5 rent free years the BUILDER has the option to remove the hanger from subject property if desired. Optionally, during the 5 rent free years, the hanger project may be transferred to another current member of CMLF, but this does not extend the original 5 rent-free year period to the new owner, and the hanger is the property of CMLF at the end of the original 5 rent free year period. The new owner/BUILDER must sign a Harrell Field Rental Agreement to commence rental payments to CMLF immediately after expiration of the original 5 rent-free years
6.Concurrent with the signing of this agreement, the BUILDER will sign a Harrell Field Rental Agreement to commence rental payments to CMLF effective immediately after expiration of the 5 rent-free years.
7.CMLF is not responsible for any loss or damage to property owned by BUILDER or guests. It is understood that BUILDER should carry renterís insurance for fire, extended coverage and liability to cover accidental injury and damage or loss of personal property due to fire or theft.
BUILDER has read and understands these rules.
BUILDER ______________________________ HANGAR Number ______________________
APPROVAL CMLF BOARD _______________________________ DATE _______________