Res 2018-107/Amended and Restated Revised Lease of Unimproved Property for Construction and Operation of Business Facilities with Berry Aviation, Inc. for an aircraft hangar and tract of land at the San Marcos Regional Airport

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Commencing on the first day of the calendar quarter immediately succeeding the Effective Date (the “Rent Commencement Date”), Rent shall be paid, in advance, in quarterly installments. Rent will be prorated in the event of any partial quarter or Lease Year. Lessee, at its option, may make advance payments of Rent up to one (1) year in advance, but there will be no discount for advance payments. b.Notwithstanding the provisions of (a) above, Lessor and Lessee acknowledge and agree that (i) in accordance with the FBO Lease, as amended and restated on or about the Effective Date, rent credits approved by Lessor and applicable to this Lease equal $421,872.48 as of the Effective Date (the “Approved Credit”); (ii) during the Term and any extension thereof, until such time as the Approved Credit has been depleted, Lessee may receive a credit against fixed Rent from the Approved Credit; and (iii) in the event Lessee constructs additional capital improvements during the Term which are approved and a related rent credit is authorized by Lessor, Lessee shall receive a credit against fixed Rent equal to the related expenditures, such credit to commence immediately upon completion of construction or installation of the subject improvements and to continue during the Term and any extension thereof until such credit has been depleted. Notwithstanding Lessee’s right to a Rent credit hereunder, in no event shall Lessor be responsible for amounts in excess of Rent payable by Lessee during the Term and any extension thereof. 2.04 Form and Place of Payment. Rent shall be due on or before the first day of each calendar quarter. th A payment shall be considered past due if, after the fifth (5) day of the calendar quarter in which the payment is due, Lessor has not received full payment by the end of such day (which shall end during normal working hours) physically at 4400 Airport Highway 21, San Marcos, Texas, or by mail to 1807 Airport Drive Suite 200, San Marcos, Texas 78666. Payments submitted via United States Postal Service or other means are considered paidwhen received, not on the date posted. 2.05 Late Charges. Payments not received in full by 5:00 p.m. San Marcos, Texas, time, on the fifth th (5) day of the calendar quarter in which such Rent is due will be considered late, and a $15.00 per day late charge will be assessed. In addition, Lessee shall reimburse Lessor for each check that is returned or not honored. 2.06 No Release. Except as expressly provided herein or in any written consent of Lessor, Lessee (i) will not be released from liability pursuant to this Lease for any reason, including, but not limited to, a change in business conditions, voluntary or involuntary job transfer, change of marital status, loss of content, loss of employment, bad health or the sale or disposition of any aircraft; and (ii) is obligated to the terms and conditions of this Lease, including the payment of Rent for the entire Term, subject to earlier termination (except due to an uncured event of default by Lessee) or renewal, as provided herein. 2.07 Holdover. In the event Lessee holds over after the expiration of this Lease, such hold over status will create a tenancy from calendar quarter to calendar quarter. In such event, Lessee agrees to pay Rent equal to the amount payable on the Expiration Date plus fifty (50%) percent as the quarter-to-quarter holdover rate. Holdover tenancy will be subject to all other terms and conditions of this Lease. 2.08 Other Fees and Charges. Provided all other tenants and users at the Airport are required to pay for tie-down and other public Airport Facilities (as defined below) use, Lessee agrees to pay for such use offsite of the Leased Premises, in addition to Rent, in an amount equal to the lowest 4