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<br /> -3- <br /> 4. Use of Demised Premsies. <br /> Lessee agrees to use premises identified in Paragraph 2 above, for <br /> the purpose of constructing and placing an airplane hangar and renting <br /> same in order to keep and store a single airplane. <br /> 5. Term of Lease. <br /> The primary term of this lease for the property heretofore <br /> described in Paragraph 2 and as shown on Exhibit "A" shall be for a <br /> term of twenty (20) years beginning 1986 and <br /> running throug h 2006. The Lessee will have the <br /> rig h t of two consecutive five year renewals at a fair market rental <br /> rate for the subject land and improvements. <br /> 6. Use of Airport Facilities. <br /> <br /> During the term of this lease, the Lessor agrees that Lessee shall <br /> have unrestricted access to the runways, taxi-ways and ramp now in <br /> existence on the San Marcos Municipal Airport to the same extent that <br /> any other parties may have use thereof. It is understood and agreed by <br /> and between the parties hereto that. the continuing use of the San <br /> Marcos f\1unicipal Airport as an airport for general aviation is <br /> essential to the operation of Lessee and that failure to continue the <br /> use of the airport for airport and aviation purposes shall constitute <br /> a de faul t in the lease ag reeme n t; and upon giving notice by Lessee to <br /> Lessor of such default and failure to cure such default within thirty <br /> (30) days after the giving of such notice, this lease shall terminate <br /> and end as of the date 120 days after such notice shall have been <br /> give n; and Lessee shall thereupon be released from and re lieved of <br /> all further obligations thereafter to accrue hereunder. <br />