Interim Leases

The Corporation will enter into interim leases for early transfer of all or a portion of military base properties, parcels or buildings suitable for leasing which can be used for redevelopment purposes, and provide job opportunities prior to the military’s departure from a military base, which interim leases may also provide income to help with the maintenance and operational cost of the site,. subject to approval of I Liheslaturan Guåhan. In such event any leases or subleases entered into by the Corporation as lessor shall include, at a minimum, substantially the following provisions:

(a)the sublessee shall maintain, at its own cost, comprehensive general liability and property damage insurance on buildings and real property in a reasonable minimum amount as determined by the Corporation. A certificate of insurance naming the Corporation as an additional insured evidencing such insurance shall be delivered to the Corporation contemporaneously with the execution of the sublease agreement.

(b)The sublessee shall not assign or transfer its rights under the sublease agreement, or sublet the leased premises without first obtaining written consent from the Corporation.

(c)The sublessee shall use the leased premises in a careful, safe and proper manner, and shall not use or permit the premises to be used for any purpose prohibited by the laws of the United States, or the laws of Guam.