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<br />I <br /> <br />I <br /> <br />I <br /> <br />1m -2- 2/24/77 <br /> <br />195b <br /> <br />hereafter be known as and called Aquarena Springs Golf Course. <br /> <br /> <br />On the land comprising the said golf course, at the eastern <br /> <br /> <br />or southeastern corner thereof, there is situated a small <br /> <br /> <br />building now and heretofore used as a club house and golf <br /> <br /> <br />shop; and other improvements on said land include shelters, <br /> <br /> <br />tee boxes, benches, and a system of underground pipes for <br /> <br /> <br />watering the fairways and greens. This lease covers and in- <br /> <br /> <br />cludes all of the said land and all of the said improvements.. <br /> <br /> <br />II. <br /> <br /> <br />Lessor does hereby rent, demise and lease, unto Lessee <br />the said real property and golf course, upon the covenants, <br />for the term and upon the rental as hereinafter set forth. <br />III. <br />The term of this lease is the calendar year, 1977, <br />commencing January 1, 1977, and terminating December 31, 1977. <br />IV. <br />The rental for the term of this lease is the exact amount <br />of the ad valorem taxes on the property above d~scribed in <br />Article I of this Indenture of Lease for the calendar year, <br />1977, and these taxes are as follows: <br />CITY OF SAN ~ffiRCOS ------------$1,698.87 <br />STATE AND COUNTY --------------$ 814.02 <br />SCHOOL ------------------------$3,257.04 <br />$5,769.93. <br />Lessee here now pays to Lessor the rental in the amount of <br />$5,769.93 for the year 1977, the term of this lease, and Lessor <br />hereby acknowledges the receipt and sufficiency of the payme,nt <br />of all of said rent; provided that the City of San Marcos <br />continue to sub-let the said golf course to San Marcos Golf <br />Association for the actual operation of same as a golf course <br />and that the said Association, through its directors and officers, <br />