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<br /> 138 <br /> EXHIBIT 2 <br /> STATE OF TEXAS <br /> LEASE <br /> COUNTY OF CALDWELL <br /> KNOW ALL MEN BY THESE PRESENTS: <br /> Whereas, the City of San Marcos, Texas is the owner of the <br /> San Harcos Municipal Airport, situated in Caldwell County, Texas, <br /> hereinafter If Airport", by virtue of an indenture from the United <br /> States of America dated the 24th day of February, 1966, and the <br /> 14th day of July, 1969, and the 11th day of May, 1976, to which <br /> reference is hereby made and by such reference made a part hereof; and, <br /> Whereas, GT+3 Flight Operations, Inc., hereinafter "Flight <br /> Operations", a business originally established in 1977, is engaged <br /> in aeronautical services and is fully qualified to operate a fixed <br /> based operation, hereinafter "FBO"; and, <br /> Whereas, the City of San Marcos, hereinafter "City", in order <br /> to effectuate use of the subject premises for airport purposes desires <br /> to enter into a lease of a portion of Airport to Flight Operations <br /> for the conduct of a non-exclusive and non-discriminatory FBO operation <br /> and Flight Operations desires to lease the subject premises in accordance <br /> with the following terms and conditions; and, <br /> Whereas, the Mayor of said City has been authorized by Resolution <br /> duly enacted on September8, 1980to execute this lease; now, therefore <br /> in consideration of the promises and mutual covenants and undertakings <br /> herein provided for, the parties to this agreement do each hereby <br /> agree with the other as follows: <br /> WITNESSETH <br /> I <br /> City hereby leases to Flight Operations the premises at Airport <br /> designated as Tract ~-l and shown on the attached Exhibit A for the <br /> operation of a FBO at Airport. <br /> II <br /> Flight Operations agrees to operate said demised premises for <br /> the use and benefit of the public. Flight Operations further agrees: <br />