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ARTICLE 2: COMMENCEMENT, TERM AND RENT <br />2.01 <br />Commencement. Rental (“Rent”) shall accrue commencing upon the EffectiveDate. Rent shall <br />be payable at the place designated in Section 2.04. <br />2.02 <br />Term. The term of this Lease (“Term”) will commence on the Effective Date and will terminate <br />on April 18, 2057 (the “Expiration Date”), subject to earlier termination or renewal as provided <br />herein. As used herein, “LeaseYear” means each period of twelve (12) full calendar months <br />from and after the Effective Date. <br />2.03 <br />Rent. <br />a.Subject to the provisions of (b) below, Lessee hereby promises and agrees to pay Lessor <br />fixed rent for the land and improvements comprising the Leased Premises, as follows: <br />Paved Ramp <br />Fixed Fixed <br />Quarterly <br />Area Ground <br />Rent/Quarter –Rent/Quarter – <br />Total <br />Rent/Quarter <br />Ground Lease Air Carrier <br />PremisesComplex <br />Rent <br />Commencement Date $2,010.30$8,640.00$0.25$10,650.55 <br />–February 28, 2032 <br />March 1, 2032 – <br />$2,211.33$9,504.00$0.28$11,715.61 <br />February 28, 2037 <br />March 1, 2037 – <br />$2,432,46$10,454.40$0.30$12,887.16 <br />February 28, 2042 <br />March 1, 2042 – <br />$2,675.71$11,499.84$0.33$14,175.88 <br />February 28, 2047 <br />March 1, 2047 – <br />$2,943.28$12,649.82$0.37$15,593.47 <br />February 28, 2052 <br />March 1, 2052 – <br />through February 28, $3,237.61$13,914.81$0.40$17,152.82 <br />2057 <br />March 1, 2057, <br />through April 18, $3,561.37$15,306.29$0.44$18,868.10 <br />2057 <br />3 <br /> <br />