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<br /> add this property within 10 days of notice from Lessor or NAAC will <br /> forfeit this right. <br /> Lessor hereby gives and grants to Lessee the right to construct an <br /> aircraft hangar with attached office and engineering space, and as <br /> required, an automobile and aircraft parking area. Lessee is also <br /> :Jranted the non-exclusive right to the use of the aircraft ramp space <br /> located in front of and extending North from the leased property to, <br /> but not including, the taxi area. This ramp area will be used only for <br /> the parking of NAAC and NAAC customer aircraft. However, in the event <br /> that NAAC is not utilizing all of this ramp space for the parking of <br /> NAAC and NAAC customer aircraft, then from time to time, overflow <br /> aircraft from the FBO or other airport operators may use this ramp <br /> parking space. <br /> For the purposes of this Agreement, the term "premises" shall include <br /> leasehold improvements constructed by Lessee pursuant to Article V of <br /> this Agreement. <br /> ARTICLE II. <br /> T E Rl'1 <br /> The term of this Agreement shall be for a period of 20 years cormnencing <br /> on May 7 , 1984, and continuing through <br /> May 7 , 2004, (the "Termination Date"), unless earlier <br /> <br /> terminated under the provisions of this Agreement. Lessee shall have <br /> the option to extend the term of this Agreement for two additional 5 <br /> year periods from and after the Termination Date upon the assent of <br /> both parties. <br /> ARTICLE III. <br /> RIGHTS AND OBLIGATIONS OF LESSEE <br /> A. APPROVED SERVICES. Lessee is hereby granted the non-exclusive <br /> privilege to engage in the business as follows: <br /> PAGE 2 <br />