OAR 738-015-0095: Sale of Improvements, Assignment of Non-Commercial Leases, Subleases

(1) The Department shall not allow assignment or sublease of any non-commercial lease. (2) If Lessee desires to sell the improvements, the Department shall consider entering into a new lease with the buyer of the improvements, provided said prospective new Lessee is qualified under criteria set forth in OAR 738-015-0060, Leasing Application for Non-Commercial Aeronautical Activities, 738-015-0065, Hangar Occupancy Under Leases for Non-Commercial Aeronautical Activity, 738-015-0070, Non-Commercial Aeronautical Lease Applicant's Financial Responsibility, and 738-015-0075, ODA Review of Application for Non-Commercial Aeronautical Activities. (a) The prospective Lessee (the buyer of the improvements) must meet all requirements imposed on any Lessee with a non-commercial aeronautical lease. (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 738-015-0080. (3) The original Lessee's lease shall remain in full force and effect until the Department and the buyer of the improvements have entered into a new lease. The original Lessee must comply with all terms and conditions of the original 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.