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LEASE OF PROPERTY (YEAR TO YEAR) <br />This Lease is entered into on May 15, 2018, between the City of San Marcos, Texas, 630 <br />East Hopkins Street ("Lessor") and Becerra Corp, 208 East Mimosa Circle, San Marcos, TX 78666 <br />("Lessee"). <br />SECTION 1. PREMISES; USE. <br />Lessor leases to Lessee and Lessee leases from Lessor the premises ("Premises") in San <br />Marcos, Texas, shown in Exhibit A, attached hereto and made a part hereof, subject to the terms <br />and conditions in this Lease. The Premises may be used for maintenance and operation of one <br />Lessee -owned building in connection with a retail food service operation, restaurant or bakery, <br />and other purposes incidental thereto, only, and for no other purpose. Any other use shall be subject <br />to approval of Lessor's City Manager in writing. <br />SECTION 2. TERM. <br />The term of this Lease shall commence effective as of February 1, 2018, and, unless sooner <br />terminated as provided in this Lease, shall extend for one year and, thereafter, shall automatically <br />be extended from year to year. <br />SECTION 3. FIXED RENT. <br />A. The annual 2018 ground lease rent is $3,446.68 and will be paid in the following <br />manner: Within 10 days upon the execution of this Lease by both parties, a payment of $861.67 <br />will be due payable to the City of San Marcos and three equal payments of the same amount each <br />due on the first of the month of each month thereafter. Each year thereafter, Lessee shall pay to <br />Lessor, in advance (on or before February 1), fixed rent annually. The fixed rent shall be <br />automatically increased by three percent (3%) annually, cumulative and compounded. <br />B. Not more than once every three (3) years, Lessor may redetermine the fixed rent. If <br />Lessor redetermines the rent, Lessor shall notify Lessee of such change. <br />SECTION 4. INSURANCE. <br />A. Before commencement of the term of this Lease, Lessee shall provide to Lessor a <br />certificate issued by its insurance carrier evidencing the insurance coverage required under Exhibit <br />B attached hereto and made a part hereof. <br />B. Not more frequently than one every two years, Lessor may reasonably modify the <br />required insurance coverage to reflect then -current risk management practices of Lessor. <br />C. All insurance correspondence, certificates and endorsements shall be directed to: <br />Risk Manager, City of San Marcos, 630 East Hopkins Street, San Marcos, TX 78666. <br />