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Section 6. Acceptance of Facility by SPECIALIZED AERO SERVICES. SPECIALIZED AERO <br />SERVICES acknowledges that 1) neither the City nor Officers Club AeroVentures San Marcos #2, <br />LP makes any warranty regarding the suitability of the Property or the Facility for SPECIALIZED <br />AERO SERVICES' intended purposes, or the presence of environmental, geologic, or other site <br />conditions on the Property or in the Facility that may affect SPECIALIZED AERO SERVICES' use <br />of the Facility; 2) SPECIALIZED AERO SERVICES accepts full responsibility for determining the <br />suitability of the Facility for its intended purposes; 3) SPECIALIZED AERO SERVICES has <br />inspected and performed all tests and investigations of the Facility that SPECIALIZED AERO <br />SERVICES considers necessary to satisfy itself as to the suitability of the Facility for its intended <br />purposes; and 4) SPECIALIZED AERO SERVICES is accepting the Facility in its present condition, <br />and SPECIALIZED AERO SERVICES agrees to perform all preparation, repairs, remediation and <br />other activities necessary to use the Facility for SPECIALIZED AERO SERVICES' intended <br />purposes. <br />Section 7. Compliance with Regulations and Standards by SPECIALIZED AERO SERVICES. <br />SPECIALIZED AERO SERVICES agrees to comply with the San Marcos Municipal Airport <br />Standard Operating Procedures and Regulations (the "Regulations") and the Minimum Standards for <br />Fixed Base Operators and Airport Tenants (the "Standards"), as they now exist or may be amended <br />during the term of this Agreement, and any conflict between the Sublease or the City Lease and these <br />procedures, regulations and standards will be resolved in favor of the procedures, regulations and <br />standards. <br />Section 8. Payments by SPECIALIZED AERO SERVICES to the City. SPECIALIZED AERO <br />SERVICES agrees to pay to the City a franchise fee in the form of a monthly amount equal to one <br />percent (1 %) of SPECIALIZED AERO SERVICES' gross income from all commercial activity at <br />the Airport, excluding sales or services to federal, state or local governments or other tax exempt <br />organizations or agencies. SPECIALIZED AERO SERVICES shall provide access to the City, upon <br />reasonable notice, to all business records necessary to verify the amount of fees and/or percentage <br />rental due under this Lease. Payment is to be made within 10 days of the last day of the previous <br />month and shall be based on SPECIALIZED AERO SERVICES' income during the previous month. <br />If SPECIALIZED AERO SERVICES fails to pay any sum payable to the City under the terms of <br />this Agreement when due, then interest at the maximum legal rate in the State of Texas shall accrue <br />from the date on which the sum became due and payable. <br />Section 9. Term. The term of this Agreement commences on February 19, 2008 and will terminate <br />on the date the Sublease, or any extension of the Sublease, is terminated. <br />Section 10. Use of Premises. The use of the Facility by SPECIALIZED AERO SERVICES shall be <br />restricted to aviation purposes, unless otherwise approved in writing by the Officers Club <br />AeroVentures San Marcos #2, LP and the City. Specifically, the Facility shall be used and occupied <br />for the following business activity: airframe repair of general aviation aircraft. SPECIALIZED <br />AERO SERVICES shall not use the Facility for any other purpose without the advance written <br />consent of Officers Club AeroVentures San Marcos #2, LP and the City. SPECIALIZED AERO <br />SERVICES shall use the Facility in good faith continuously for this purpose throughout the term of <br />2 <br />