All hangars constructed after July 1, 2018 shall be subject to the conditions as set forth in the
Harrell Field - Ground Space Rental Agreement for Hangar Construction or Purchase
For details or to print this document, please CLICK HERE to download the PDF.
  

The following rules are applicable to hangar renters before July 1, 2018:

1. When our land was purchased, several members agreed to prepay their respective rents through June 30, 2022, to provide cash for the down payment for our bank loan. So, the $780 annual rate for all existing Hangar Renters prior to July 1, 2018 will be grandfathered through June 30, 2022, to show appreciation; because without them we would not own our land. After June 30, 2022, CMLF optionally may change the rental rate.

2. Grandfathered members who built their hangar before July 1, 2018, will continue to pay hangar rent ($ 780 annually) under their original Hangar Agreement. But, now they may sell or sublet their interest to any other CMLF member at fair market value and CMLF will not participate in the sale. INTEREST is defined as the right to possess, use, protect, maintain, and sell as if the HANGAR was owned by RENTER. If the grandfathered member sells his/her INTEREST, the NEW RENTER must sign the new Ground Space Rental Agreement and thus will assume the interest, rights, and responsibilities of a RENTER under the terms of the new agreement. NEW RENTER will assume payment of the annual ground lease per square foot to CMLF(which may be more or less than $780). The NEW RENTER may sublet rent his/her interest in the hangar to another CMLF member at fair market value provided that both remain current members of CMLF. CMLF will not participate in this rent transaction. Hangar numbers 6, 14, 16 will pay a total of $780 total annually after June 30, 2022.

3. Grandfathered Hangar renters who did not build their hangar before July 1, 2018, have the option to purchase the INTEREST in their respective hangar at a fair value determined by CMLF. INTEREST is defined as the right to possess, use, protect, maintain, and sell as if the HANGAR was owned by RENTER. After purchasing their INTEREST, they must continue to pay CMLF hanger rent at the grandfathered rate ($780 annually) through June 30, 2022; and they may now sell or sublet their INTEREST to any other CMLF member at fair market value. CMLF will not participate in the sale. If the grandfathered member sells his/her INTEREST, the NEW RENTER must sign the new Ground Space Rental Agreement and thus will assume the INTEREST, rights, and responsibilities under the terms of the new agreement. NEW RENTER will assume payment of the annual ground lease per square foot to CMLF (which may be more or less than $780). The NEW RENTER may sublet rent his/her INTEREST in the hangar to another CMLF member at fair market value provided that both remain current members of CMLF. CMLF will not participate in this rent transaction.

4.If RENTER terminates his/her membership in CMLF for whatever reason, and has not sold his/her INTEREST to another member, all INTEREST in the HANGAR will return to CMLF if his/her INTEREST is not sold to another CMLF member within the next 90 days.          

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