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City of San Marcos <br />ARTICLE 17. RIGHT OF TERMINATION <br />Airport <br />17.01 Notwithstanding anything to the contrary contained in this LEASE, LESSEE may <br />terminate this LEASE for any reason in LESSEE'S sole and absolute discretion, by <br />delivering a cashier's check for $500.00 and written notice of such termination to <br />LESSOR on or before the date identified in paragraph 5.02 above as the date <br />LESSEE is obligated to deliver the Letter of Credit or the Cash Deposit. If <br />LESSEE fails to deliver notice of its desire to terminate this LEASE prior to such <br />date, all such termination rights under this Section 17.01 shall be deemed waived <br />(time being of the essence with respect to such termination notice) and this LEASE <br />shall remain in full force and effect. Upon execution of this LEASE, LESSEE shall <br />deliver to LESSOR $25.00 as independent consideration for this LEASE, which <br />amount the parties hereby acknowledge and agree has been bargained for and <br />agreed to as consideration for LESSOR'S execution and delivery of this LEASE. <br />The independent consideration is in addition to and independent of any other <br />consideration or payment provided in this LEASE. <br />Executed to be effective as of �L �(� 2009. <br />LESSOR <br />CITY OF SAN MARCOS <br />B <br />�4, !ylelw� <br />Rick Menchaca, City Manager <br />Att it <br />Sherry Ma urn, City Clerk <br />LESSEE <br />San Marcos Executive H gars, LLC -7 <br />B y: , A <br />Jason Morahan, sole Member of <br />Morahan Holdings, LLC, its sole <br />Member <br />Commercial Land Lease Page 21 of 22 <br />