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<br /> -2- <br /> 3. Term of Lease. <br /> The prlmary term of th1S lease for the property heretofore <br /> descr1Dea 1n Paragraph 1 sha1.l be for a term of twenty (20) <br /> years oegwmng the ~ Gay of SepteniJe'õ . 1986. ~ <br /> ana runnlng through the 31st day of September, 2006. '- <br /> Lessee. if not in defauLt shaH have the option of renewing \ <br /> this ~ease for two (2) aaditlonal f1ve (5) year periods. The ' <br /> ~ease payments for each f1ve ( 5) year period. sha~l De <br /> c:::\.lculatea as aeta11ed In paragraphs four (4) and. fi.ve ( 5) <br /> here1n. <br /> 4. Consiaeratlon. <br /> --- <br /> Lessee agrees to pay to Lessor the sum of flve cents ($.05) <br /> per square foot per year, payment to De made in advance ana <br /> on each annlversary d.ate of this ~ease. In add.lt10n, the <br /> Lessee wl~l pay annua.l~y to the Lessor a one percent (1%) <br /> 9 ro s s recelpt fee on all commercla~ actltivites adJusted. to <br /> excluae a1rcraft sales, sales and. serVlces to feaeral, state, <br /> local government agenc1es, sales and services to tax exempt <br /> orgòn1zatlons, ana work d.one on Lessee1s personal aircraft. <br /> Lessee shal~ provide to Lessor, within ten (10) days from <br /> recelv1ng notice from Lessor, any DUS1ness recoras reasonaD~y <br /> necessary, as deemed bY Lessor, to verify the amount of said <br /> one percent (1%) fee. The consld.eration to be paia by Lessee <br /> shall De reVi.eWed by Lessor at or near the end of each five <br /> ( 5) year perlOd, and Lessor shal~ have the right to i.ncrease <br /> such consiaeratlon for the next per1oa~ proviaed., however, <br /> that the amount of such cons1deration to be paid Lessor sha~l <br /> be comparat)le to other rentals chargea at the Ai.rport. As <br /> aaa1tlonal considerat10n for this lease, Lessee agrees to <br /> construct a bUi.ldlng and other permanent improvements with <br /> due d11i.gence for Lessee's uses as descriDea hereunaer at a <br /> cost 1n excess of One Hunarea Fifty Thousana Dol~ars And. <br /> No/lOO ($150,000.00), said lmprovements to Decome the <br /> property of Lessor as prOVi.ded ln Sectlon 14, Paragraph g. of <br /> th1s lease. Lessor agrees to permit Lessee's <br /> month-to-month tenancy for the premis(-~s subject <br />