Res 1974-041 - Laserfiche WebLink

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127-a THE STATE OF TEXAS I I I KNOW ALL MEN BY THESE PRESENTS: COUNTY OF HAYS LEASE I This agreement is entered into by and between the City of San Marcos, a municipal corporation situated in Hays County, Texas, herein called Lessor, and Joe Gafford, herein called Lessee. Lessor, hereby leases unto Lessee all that certain real property conveyed unto the City of San Marcos by deed dated December 4, 1954 from Robert Lowman conveying said property for airport use and recorded at Vol. , page , of the Hays County Deed Records, Hays County, Texas, Said property above referred to is leased for the express use of providing runways at said field. It is further expressly agreed and understood between the parties herein that if at any time said Lessee ceases using said property for runway purposes, said lease shall terminate and all interest of Lessee shall return to the City of San Marcos. As consideration for this lease, Lessee agrees to pay and Lessor agrees to accept the sum of $10.00 annually, which sum is due and payable to Lessor in cash on the first day of each year of this lease. Said lease payment for the first year of this lease is herewith paid to Lessor in cash and Lessor acknow- ledges receipt thereof. I This lease shall be for a term of twenty (20) years, beginning on April 15, 1975 and terminating on April 14, 1995. It is expressly agreed and understood between the parties herein that upon the expiration of the primary term herein, Lessee shall have the right to petition the City and request an extension of said lease for an additional twenty (20) years. Lessee shall not construct or erect any improvements on any of the lease property which would impair the use of said property as a runway and any improvements to be made to lease property in order to enhance its value as an airport runway shall be borne exclusively by Lessee. Lessee agrees to procure and maintain a policy of Public Liability Insurance for the benefit of both Lessor and Lessee, protecting both parties against loss arising out of the claims of damage to persons or property from Lessee's operation on the premises and said insurance is to be in the amount sufficient to enable the payment of $100,000.00 to anyone person and the sum of $300,000.00 for anyone occurrence, and $100,000.00 in property damage. A copy of said policy of insurance shall be retained by Lessee and a copy thereof shall be delivered to Lessor. I It is specifically agreed among the parties that this contract shall be binding upon, and shall inure to the benefit of, the parties hereto, and the respected successors and assigns. Specifically, it is agreed that Lessee, if he so desires, may sublease the property hereby leased but no subleasing of this property shall in any way diminish the rights of Lessor hereunder. Any attempt by Lessee to sublease the property herein described, shall not become final until approval by the City of San Marcos acting by and through its City Council setting in Regular Session.