Guam § 78108 - Interim Leases.

§ 78108. 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.