Or. Admin. Code § 738-015-0035 - Sale of Improvements, Assignment of Commercial Leases, Subleases
(1) The Department
shall not allow assignment of any lease for commercial aeronautical
activity.
(2) If Lessee desires to
sell the improvements, the Department shall consider entering into a new lease
with the buyer of the improvements.
(a) The
prospective Lessee (the buyer of the improvements) must meet all requirements
imposed on any lessee under the terms of a lease with the Department for
commercial aeronautical activity at a State-owned airport.
(b) If the prospective Lessee (the buyer of
the improvements) qualifies to obtain a lease, the Department shall offer a
lease with the terms, conditions and rates then in effect. The term of the new
lease shall be determined by the Department, consistent with OAR
738-015-0005 through
738-0015-0015.
(3) The
original Lessee's lease shall remain in full force and effect until the
Department and the new Lessee (the buyer of the improvements) have entered into
a new lease. The original Lessee must comply with all terms and conditions of
the lease until the new lease is executed and in effect.
(4) Upon execution of the new lease, the
original lease is automatically terminated by mutual agreement of the
parties.
(5) Subleasing of a
commercial aeronautical activity lease is allowed with prior written approval
by the Department.
Notes
Stat. Auth.: ORS 835.035, ORS 835.040, ORS 835.112
Stats. Implemented: ORS 935.035, ORS 935.040, ORS 835.112, ORS 836.055
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