When any tenant, user or grantee is formally notified he or she is held in default of any written or implied obligation to the city, whether for breach of performance or service covenants or nonpayment, thereafter he or she shall be billed for all losses of revenue, expenses incurred to reestablish performance or service, and other costs, unless the tenant, user or grantee files with the Airport Manager, within ten days of receipt of the formal notification, a statement that corrective or preventative measures have been initiated and will be diligently carried to completion. If the promises contained in the statement are not fulfilled, the tenant, user or grantee will be considered in absolute default and appropriate lawful steps shall be taken by the city.
('74 Code, § 2.5-15) (Ord. 938, passed 2-1-77) Penalty, see § 90.999