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City of San Marcos Airport <br />SAN MARCOS MUNICIPAL AIRPORT <br />LEASE OF UNIMPROVED AIRPORT PROPERTY FOR <br />CONSTRUCTION AND OPERATION OF BUSINESS <br />FACILITIES <br />THE STATE OF TEXAS <br />COUNTIES OF HAYS AND CALDWELL <br />This Lease agreement ( " LEASE ") is made between the City of San Marcos, Texas, a municipal <br />corporation ( " LESSOR ") and San Marcos Executive Hangars, L.L.0 ( " LESSEE ' <br />The LESSOR is the owner of the San Marcos Municipal Airport ( " AIRPORT "), situated in Caldwell <br />County, Texas, by virtue of deeds from the United States of America. <br />This LEASE is subject to approval by the Federal Aviation Administration. <br />ARTICLE 1. LEASE OF PREMISES; ACCEPTANCE OF EXISTING CONDITIONS; <br />COMPLIANCE WITH REGULATIONS <br />1.01. In consideration of the obligation of the LESSEE to pay rent and in consideration of <br />the other terms, covenants and conditions of this LEASE, the LESSOR leases to the <br />LESSEE, and the LESSEE leases from the LESSOR the approximately 1.44 acre <br />tract of real property ( " LEASED PREMISES ") in Caldwell County, Texas, <br />described in Exhibit "A" attached to and made a part of this LEASE for all <br />purposes. (To clarify, LESSOR and LESSEE acknowledge and agree that the <br />LEASED PREMISES as depicted on Exhibit "A" is, for all purposes, the buildings to <br />be constructed by LESSEE pursuant to this LEASE and the footprint of such <br />buildings only.) LESSOR and LESSEE acknowledge and agree that the final <br />dimensions and specifications of the LEASED PREMISES and the FACILITIES (as <br />defined in paragraph 5.01 below) are subject to the final layout of the <br />INFRASTRUCTURE IMPROVEMENTS (as defined in Paragraph 1.04 below) as <br />established by the civil engineering plans to be completed subsequent to the <br />execution of this LEASE. Provided the plans for the FACILITIES and the <br />dimensions of the LEASED PREMISES are substantially similar to that described in <br />Exhibit "A ", the City Manager may approve such plans on behalf of the LESSOR and <br />a survey or plan showing the final area of the LEASED PREMISES and the <br />completed FACILITIES shall replace and supercede the Exhibit "A" attached to <br />this LEASE on the date hereof. Without limiting the generality of the preceding <br />sentence, the parties agree that it will not be considered a substantial change or <br />deviation hereunder if such plans provide for the LEASED PREMISES to have <br />Commercial Land Lease Page 1 of 22 <br />