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1.06. Ingress and Egress. Lessor agrees that Lessee, its officers, directors, agents, <br /> representatives, contractors, employees, invitees and licensees shall have the right of <br /> vehicular and pedestrian ingress and egress to and from the Leased Premises by means of <br /> roadways owned by the City for automobiles and taxiways at the Airport for aircraft, <br /> including access during the construction phase of Airport improvements,unless otherwise <br /> agreed to in writing by both parties. Such rights shall be consistent with the Rules and <br /> Regulations, applicable laws and regulations of the City, the Federal Aviation <br /> Administration ("FAA") and other governmental authorities with jurisdiction over the <br /> Airport and this Lease. <br /> ARTICLE 2: COMMENCEMENT TERM AND RENT <br /> 2.01. Commencement. Rental ("Rent") shall accrue commencing upon the Effective Date of <br /> this Lease. Rent shall be payable at the place designated in Section 2.04. <br /> 2.02. Term. The term of this Lease("Term")will commence on the receipt of a final Certificate <br /> of Occupancy from the City of San Marcos, Texas ("Commencement Date") and will <br /> terminate in thirty (30) years (the "Expiration Date"), subject to earlier termination or <br /> renewal as provided herein.Lessee shall have the option to extend the Term in accordance <br /> with Exhibit B attached hereto.As used herein,"Lease Year"means each period of twelve <br /> (12) full calendar months from and after the Effective Date. When the actual <br /> Commencement Date and Expiration Date are determined, the parties shall execute a <br /> Commencement Date Memorandum setting forth the Commencement Date and Expiration <br /> Date in the form attached hereto as Exhibit D. <br /> 2.03. Rent. Beginning on the Effective Date of this Lease and during the Term, Lessee hereby <br /> promises and agrees to pay Lessor Rent for the Leased Premises on a"per square foot per <br /> Lease Year"basis,as follows: <br /> Rent shall be paid in equal monthly installments, initially in the amount of$412.67; Rent <br /> will be prorated in the event of any partial month. Lessee,at its option,may make advance <br /> payments of Rent up to one(1)year in advance,but there will be no discount for advance <br /> payments. <br /> Rent shall be increased by a flat ten percent(10%)beginning in year six and every five(5) <br /> years thereafter. <br /> Lessee agrees to pay the first (prorated, if applicable) Rent installment within three (3) <br /> business days after the Commencement Date. Such payment shall be credited against Rent <br /> due for the first month in the Term. <br /> 2.04. Form and Place of Payment. The monthly Rent shall be due on or before the first day of <br /> each calendar month. A payment shall be considered past due if,after the fifth(5'r')day of <br /> the month in which the payment is due,Lessor has not received full payment by the end of <br /> such day(which shall end during normal working hours)(1)physically,(2)by mail to 4400 <br /> Airport Highway 21,San Marcos,Texas,or(3)or by such other means permitted by Lessor <br /> (i.e., ACH). Payments submitted via United States Postal Service or other means are <br /> considered paid when received,not on the date posted. <br /> 2.05. Late Charges. Payments not received in full by 5:00 p.m. San Marcos,Texas,time, on the <br /> fifth(51)day of the month in which such Rent is due will be considered late,and a$15.00 <br /> 2 <br />