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<br /> EXHIBIT B <br /> State of Texas Lease .\greement <br /> County of Hays <br /> Know All Men By These Presents: <br /> That the City of San ~1arcos, Texas, a municipal corporation <br /> existing by and under the laws of the State of Texas, acting through <br /> authori ty conferred on its H.ayor, Kenneth V. Kraus, by resolution <br /> duly enacted on September 8, 1980, hereinafter "Ci ty", and Chandclle <br /> Aviation, Inc., hereinafter "Chandclle" enter into this lease of a <br /> portion of San Marcos Municipal Airport. <br /> I. <br /> City is the owner of the San Marcos Municipal Airport, herein- <br /> after "Airport", by virtue of an indenture from the United States <br /> of Am~rica dated the 14th day of February, 1966, the 14th day of July, <br /> 1969, and the 11th day of May, 1976, to which reference is hereby <br /> made and by such reference, made a part thereof. City hereby leases <br /> unto Chandelle a portion of said airport for the purpose of aircraft <br /> storage and maintenance. City hereby leases and Chandelle hereby rents <br /> those premises shown on the attached Exhibit A. <br /> II. <br /> As consideration and rental for the demised premises, Chandelle <br /> agrees to pay to City the sum of $.02 per squaTe foot annually for <br /> said premises for a total amoun~ of $726.60. payable annually <br /> from date of execution. <br /> III. <br /> The term of this lease shall be five (5) years from date of <br /> execution. Lessee shall have the option to renew this lease for an <br /> additional five (5) year term at the end of the initial period at a <br /> rate of $.05 per square fQot. <br /> IV. <br /> Chandelle shall be responsible for all maintenance, repairs and <br /> upkeep of the denised premises. Haintenance, repairs and upkeep of <br /> all utility lines and connections upon the demised premises shall <br /> be the responsibility of Chandelle. Chandelle agrees to bear the costs <br />