Airport Lease Clauses for AIP Compliance | Practical Law
Standard Clauses included in an airport property lease, or ground lease, to comply with written assurances the Federal Aviation Administration (FAA) requires of public-use airports receiving grant funds or real property from the federal government under the Airport Improvement Program. These clauses address maximum term length, rent adjustment, non-discrimination, air space protections, and reserved property rights. These Standard Clauses have integrated notes with important explanations and drafting and negotiating tips for the airport landlord.