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CITY OF SAN MARCOS,TEXAS <br /> SAN MARCOS REGIONAL AIRPORT <br /> AIRPORT FACILITY LEASE AGREEMENT FOR COMMERCIAL USE <br /> THE STATE OF TEXAS <br /> COUNTIES OF HAYS AND CALDWELL <br /> THIS SAN MARCOS REGIONAL AIRPORT FACILITY LEASE AGREEMENT FOR <br /> COMMERCIAL USE("Lease")is made between the City of San Marcos,a municipal corporation of the <br /> State of Texas ("Lessor" OR "City"), acting by and through its Airport Management Texas Aviation <br /> Partners, LLC., a Texas Limited Liability Corporation("Airport Management")and Coast Flight Training <br /> &Management, Inc. ("Lessee"). <br /> The Lessor is the owner of the San Marcos Regional Airport ("Airport"), situated in Caldwell County, <br /> Texas,by virtue of deeds from the United States of America. <br /> This Lease is subject to approval by the Federal Aviation Administration. <br /> NOW,THEREFORE,for and in consideration of the covenants and obligations set forth herein,the <br /> Lessor and Lessee agree as follows: <br /> ARTICLE 1: LEASE OF PREMISES; ACCEPTANCE OF EXISTING CONDITIONS; <br /> COMPLIANCE WITH REGULATIONS <br /> 1.01. In consideration of the obligation of the Lessee to pay rent and in consideration of the other terms, <br /> covenants and conditions of this Lease,the Lessor leases to the Lessee,and the Lessee leases from <br /> the Lessor a hangar and storage building at the San Marcos Regional Airport (collectively referred <br /> to herein as the"Leased Premises")being more particularly described as: <br /> _1813 Airport Drive(7,200 square foot hangar)_described in Exhibit"A"of this Lease; <br /> 1.02. The Lessee acknowledges that, subject to the Lessor's obligations under paragraph 1.04 below: 1) <br /> the Lessor makes no representations or warranty regarding the suitability of the Leased Premises <br /> for the Lessee's intended purposes, or the presence of environmental, geologic, or other site <br /> conditions that may affect the Lessee's use of the Leased Premises; 2) the Lessee accepts full <br /> responsibility for determining the suitability of the Leased Premises for its intended purposes; 3) <br /> the Lessee has inspected and performed all tests and investigations of the Leased Premises for its <br /> intended purposes; and 4) the Lessee is accepting the Leased Premises in their present condition, <br /> Page 1 of 17 <br />