Res 1981-012 - Laserfiche WebLink

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THE STATE OF TEXAS COUNTY OF CALDWELL LEASE ~KNOW ALL MEN BY THESE PRESENTS: WHEREAS, the City of San Marcos is the owner of the San Marcos (Gary) Airport, by virtue of an indenture from the United States of America dated the 14th day of February, 1966, and the 14th day of July, 1969, and the llth day of May, 1976, to which reference is hereby made and by such reference made a part hereof; and Whereas, James W. Miller, President of Miller Air Sports, Inc., desires to obtain from the City of San Marcos a land lease upon which to construct a facility at the San Marcos Municipal Airport for the purpose of building and assembling homebuilt aircraft and as headquarters office for the Texas Championship Air Races, and other aviation related activities. Whereas, the City of San Marcos, in order to effectuate the use of the subject premises to construct such a facility desires to enter into a lease of a portion of such airport with James W. Miller and Miller Air Sport, Inc., does desire to lease such property for the construction of a facility in accordance with the following terms and conditions: WITNESSETH: 1. Federal Aviation Administration. Ail covenants, terms and conditions of this lease must be approved by the Federal Aviation Administration before the effective date of lease as herein- after stipulated. 2. Demised Premises. The City of San Marcos, hereafter called Lessor, hereby leases to James W. Miller (Miller Air Sports, Inc.), hereafter called Lessee, and said Lessee rents from Lessor that certain premises described in attached exhibits and further identified thereon as "EXHIBIT A". Lessor agrees to cause an exact survey made of said premises, and both parties agree that these surveys will be made apart of this agreement. It is further agreed that the Lessee will assume the first Fifty-five dollars ($55.00) of the cost. The Lessor agrees to assume the balance of this cost. 3. Consideration. As consideration and rental for the demised premises, Lessee agrees to pay to Lessor the sum of five cents (5¢) per square foot per year, payment to be made in advance and on each anniversary date of this lease. Lessee agrees to conduct and operate a non-exclusive operation in accordance with the provisions in paragraph 5 hereinafter set out for a term of twenty (20) years, provided, how- ever, the sum of the lease shall be reviewed each five (5) years in relation to the consumer price index and escalated accordingly, provided that the original sum shall not be diminished. 4. Use of Demised Premises. Lessee agrees to use premises, identified in paragraph 2 above, for the purpose of constructing upon said premises a facility for the purpose of building and assembling homebuilt aircraft, headquarters for Texas Championship Air Races, and other aviation related activities. 5. Term of Lease. The term of this lease for the property heretofore described in paragraph 2 and as shown on EXHIBIT A shall be for a term of twenty (20) years beginning January 15, 1981 and running through January 15, 2001.