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1. Letter of Intent: A TRUE COPY CERTIFICATION ON LAST PAGE J.R. SMITH, CLERK Letter of intent must be provided by the prospective tenant to the Airport Director's office. The purpose of the letter is to confinn the desire of the prospective tenant to enter into a lease agreement with the City, and to provide all required information for preparation of the lease agreement by including all of the following: a. Identify property to be leased. b. Describe the tenn of the lease, including any renewal options, along with the beginning and termination date. C. Names and addresses of authorized signatories. d. If a business is involved, provide business name as filed with the Division of Corporations, as well as, titles, names, and addresses of Officers, Directors, Managing Partners, and/or Authorized Person(s) who will be signing the lease. e. Detailed description of the intended use of the property, including any special conditions that apply. f. Fully completed application form. 2. Advance Rent: Payment shall be in the amount of one (1) months' advance rent. Advance rent is not a security deposit. If the prospective tenant enters into a lease agreement with the City, these funds shall be considered to be the rent payment for the first month of the new lease agreement. If the prospective tenant is subsequently unable to reach an agreement with airport staff, or if the City Council declines to approve the proposed lease agreement for any reason, the money will be returned to the prospective tenant in full. If however, the prospective tenant decides not to enter into a lease agreement after the City has incurred expenses for the survey work, appraisal, environmental assessment, legal fees, etc., the prospective tenant shall forfeit the money to the Page 3 of 11 NAPROPERTY MM015 Updated Docs\2015 Updated Resolutions\150824 Airport Leasing Policy replacing Resolution 2007-18 EM. docx