Res 2017-058/approving a 19-month Airport Facility Lease Agreement with Coast Flight Management and Training, Inc

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and the Lessee agrees to perform all preparation,repairs,remediation and other activities necessary to use the Leased Premises for the Lessee's intended purposes. Lessee agrees that Lessor and Airport Management do not represent or guarantee the safety or security of the property stored within the Premises and has no duty of safety or security of any kind under any circumstances. 1.03. The Lessee agrees to comply with the SAN MARCOS REGIONAL AIRPORT RULES AND REGULATIONS and the MINIMUM STANDARDS,as they now exist or may be amended during the term of this Lease, and any conflict between this Lease and these procedures, regulations, and standards will be resolved in favor of the procedures,regulations,and standards. 1.04. The Lessor covenants and agrees that during the term of this Lease it will operate and maintain the Airport and its facilities as a public airport consistent with and pursuant to the sponsor's assurances given by the Lessor to the United States Government and/or the State of Texas through the Federal Airport Act; and the Lessee agrees that this Lease and the Lessee's rights and privileges hereunder shall be subordinate to the sponsor's assurances. 1.05. The Lessor agrees that the Lessee, and its agents, contractors, employees, invitees and licensees, shall have the right of ingress and egress to and from the Leased Premises by means of roadways for automobiles and taxiways for aircraft. Such rights shall be consistent with the rules and regulations with respect to the occupancy and use of airport premises as adopted from time to time by the City of San Marcos and by the Federal Aviation Administration or any other state, federal or local authority. ARTICLE 2: RENT AND TERM OF AGREEMENT 2.01. Rental shall accrue commencing upon execution of this Lease. Rent shall be payable at the place designated in Section 2.04a. 2.02. The Primary Term of this Lease will commence on April 4,2017 (the"Commencement Date"). The Primary Term of this Lease shall expire on December 19, 2018 . Lessee shall have the option to renew this Lease for an additional term of 5 years (the "Extension Term"). Lessee shall notify Lessor in writing of its intent to exercise its option to renew at least ninety(90)days prior to the expiration of this Lease and any extension thereof. 2.03. Any extension shall continue under the terms of this Lease, or on such changed terms, conditions, and rental rate as Lessor may give to Lessee in accordance with Section 3.01 of this Lease herein. The Term may not be extended if: (1)the Lease or Lessee's right to possession of the Premises is terminated, (2) Lessee assigns its interest in the Lease or any portion of the Premises, (3) Lessee fails to timely exercise the extension, or(4)Lessee is in default under the Lease at the time Lessee seeks to extend the Term. Page 2 of 17