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<br />r-- <br /> <br />-3- <br /> <br /> <br />I <br /> <br />In the event any improvements <br /> <br />or destroyed during the term of this leas,e by fire or ,act of God, <br /> <br />neither party shall be under any obligation to replace or restore sl\c!;1 <br /> <br />damage. <br /> <br />It is understood and agreed that if lessee should fail to pay <br /> <br />t he rent herein specified, as and when same becomes due under the <br /> <br />terms and conditions hereof, or ,shall fail to comply with any of <br /> <br />the covenants and obligations herein contained,then leSsor shall have <br /> <br />the right, at his option, to declare the lease terminated, and re-t;;ike <br /> <br />possession of the property here leased, at anytime after such defa,ult. <br /> <br />Lessee shall have the right to make s,uch improvements, additions, <br /> <br />and repalIs to construction now on such golf course, as may be <br /> <br />deemed proper or necessary for its successful operation. It is under- <br /> <br />stood, however, that any such improvements, repaIrs, or additions, <br /> <br />so made by lessee, shall becomepermanellt fixtur'9~.andapartof <br /> <br />the realty and propertY of the lessor. <br /> <br />Any profits realized by lessee from <br /> <br />course will be expended only for improvements to the golf course, or <br /> <br />for equipment necessary to operate the golf course. The profits, ,if any, <br /> <br />realized by the professional I)'olfer from the operation of his concjlssion <br /> <br />on the premises, shall,however, remain the property of said golfer. <br /> <br />This contract is executed by lessor, acting herein byPi'lul J. <br /> <br />Rogers, and is executed by lessee acting herein by 'its" 'City Manager, <br /> <br />B.R.Fuller, all on this 1st day of January,1963., <br /> <br /> <br />I <br /> <br /> <br /> <br />I <br /> <br />l?~~~ <br /> <br /> <br />;, !~S1l&L <br /> <br />By: <br /> <br /> <br />ATTEST: <br /> <br />~~ <br /> <br /> <br />