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1m -2- 1/9/76 <br />1 <br />be known as and called Aquarena Springs Golf Course. On the land <br />comprising the said golf course, at the eastern or southeastern corner <br />thereof, there is situated a small building now and heretofore used as a <br />club house and golf shop; and other improvements on said land include <br />shelters, tee boxes, benches, and a system of underground pipes for <br />watering the fairways and greens. This lease covers and includes all <br />of the said land and all of the said improvements. <br />II. <br />Lessor does hereby rent, demise and lease unto Lessee the said <br />1 <br />real property and golf course, upon the covenants, for the term and <br />upon the rental as hereinafter set forth. <br />III. <br />The term of this lease is the calendar year, 1976, commencing <br />January 1, 1976, and terminating December 31, 1976. <br />IV. <br />The rental for the term of this lease is the exact amount of the <br />ad valorem taxes on the property above described in Article I of this <br />Indenture of Lease for the calendar year, 1975, and these taxes are as <br />follows: <br />City of San Marcos ---------------$ 1, 698. 87 <br />State and County -----------------$ 814. 02 <br />? J <br />School ------------------------------? 2 2.5 7 n4 <br />$ 5, 769. 93. <br />Lessee here now pays to Lessor the rental in the amount of $5, 769. 93, for <br />the year 1976, the term of this lease, and Lessor hereby acknowledges the