Res 2022-259R/approving a two year commercial ground lease of property at the San Marcos Regional Airport with Gryphon aviation, inc., doing business as Texas State Aviation

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each month until such payments are received by Airport Manager and, on returned check charges, until such returned check is made good. All agreements between Lessor and Lessee, whether herein contained or in any other instrument or agreement, whether written or oral, are hereby expressly limited so that in no contingency or event whatsoever shall any acceleration of rents due, late charges, returned check charges, interest charges, or any other charges whatsoever, be deemed as interest charged, contracted for or received in excess of the amount permitted under applicable law, it particularly being the intention of the parties hereto to conform strictly to the laws of the State of Texas. Any portion of such charges which are deemed as interest in excess of the amount permitted under applicable law, as of the date such charge is due, shall be applied to a reduction of the rental payment next coming due hereunder, or, if such portion of charges exceeds the rental payment next coming due hereunder, such amount shall be refunded to Lessee. If a specific due date for any monetary obligation owed by Lessee to Lessor is not provided for in this Agreement, the due date for such obligation shall be that date which is ten (10) days after Lessor delivers a written request for payment to the Lessee. 2.09. Except with the Lessor's prior written consent, Lessee will not be released from 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. Lessee is obligated to the terms and conditions of this Lease, including the payment of rent, for the entire Primary Term, from the Commencement Date through the Expiration Date, and for each month thereafter (if any) until this Lease is terminated. This Lease may be terminated sooner than two years after commencement if Tenant is moving into permanent space at KHYI during the term hereof. 2.10. In the event Lessee holds over after the expiration of this lease, such hold over status will create a month-to-month tenancy. In this event, Lessee agrees to pay the rental amount set for the premises at the date of expiration of the Lease plus fifty (50%) percent, which is the month-to-month holdover tenancy rate. Said holdover tenancy will be subject to all other terms and conditions of this Lease. 2.11. The Lessee agrees to pay the Lessor a monthly fee for the use of any other Airport Facilities for aircraft, motor vehicles, or any other equipment or items which are outside of the Leased Premises and under the custody and control of the Lessee or its employees, agents, or customers. 2.12. If Lessee fails to pay any rent or any other sum payable to the Lessor under the terms of this Lease when due, then interest at the maximum legal rate in the State of Texas shall accrue from the date on which the maximum late charges described in Section 2.09 have been incurred. ARTICLE 3: USE AND CARE OF PREMISES 3.01. During the terms of this Lease or any renewal thereof, the Premises are to be used by Lessee exclusively for aviation activities. Specifically, the Leased Premises shall be used and occupied for the business of aviation related activities and business including but not limited to: the operation of a flight school`. The Lessee shall use the Leased Premises in good faith continuously for this Page 4 of 21