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<br />50 <br /> <br />THE STATE OF TEXAS <br /> <br />COUNTY OF CALDWELL <br /> <br />LEASE <br /> <br />KNOW ALL PERSONS BY THESE PRESENTS: <br /> <br />WHEREAS, the City of San Marcos, Texas, is the owner of the San <br /> <br />Marcos <br /> <br />Municipal <br /> <br />Airport, <br /> <br />situated <br /> <br />in <br /> <br />Caldwell <br /> <br />County, <br /> <br />Texas, <br /> <br />hereinafter "Airport," by virtue of an indenture from the United States <br /> <br />of America dated the 24th day of February, 1966, and the 14th day of <br />July, 1969, and the 11th day of May, 1976, to which reference is hereby <br /> <br />made; and <br /> <br />WHEREAS, Eagle Aero Corporation, a corporation formed and existing <br />under the laws of the State of Texas, Jeffrey C. Fox, an individual <br /> <br />residing <br /> <br />in <br /> <br />Bastrop <br /> <br />County, <br /> <br />Texas, <br /> <br />and <br /> <br />Bob <br /> <br />Powell, <br /> <br />an <br /> <br />individual <br /> <br />residing <br /> <br />in <br /> <br />Travis <br /> <br />County, <br /> <br />Texas <br /> <br />and <br /> <br />Susan <br /> <br />Powell, <br /> <br />an <br /> <br />individual <br /> <br />residing in Travis County, Texas desire to obtain from the City of San <br />Marcos a lease of premises located at the San Marcos Municipal Airport <br /> <br />for <br /> <br />the <br /> <br />purpose <br /> <br />of <br /> <br />providing <br /> <br />flight <br /> <br />instruction, <br /> <br />ground <br /> <br />school, <br /> <br />aircraft renting, charter,and leasing; and, <br /> <br />WHEREAS, the City of San Marcos, as Lessor, in order to effectuate <br /> <br />use of the subject premises <br /> <br />desires to enter into a lease of a portion <br /> <br />of such Airport with Eagle Aero Corporation, a corporation formed and <br /> <br />existing under the laws of the State of Texas, <br /> <br />Jeffrey C. <br /> <br />Fox, <br /> <br />an <br /> <br />individual residing in Bastrop County, Texas, Bob Powell, an individual <br /> <br />residing <br /> <br />in <br /> <br />Travis <br /> <br />County, <br /> <br />Texas <br /> <br />and <br /> <br />Susan <br /> <br />Powell, <br /> <br />an <br /> <br />individual <br /> <br />residing in Travis County, Texas as Lessee, and Lessee does desire to <br /> <br />lease <br /> <br />such <br /> <br />property <br /> <br />in <br /> <br />accordance <br /> <br />with <br /> <br />the <br /> <br />following <br /> <br />terms <br /> <br />and <br /> <br />conditions; now, therefore, <br /> <br />WITNESSETH: <br /> <br />1. <br /> <br />Federal Aviation Adminstration. <br /> <br />All covenants, terms, and conditions of this lease must be <br /> <br />reviewed by the Federal Aviation Administration before the <br /> <br />effective date of lease as hereinafter stipulated. <br />