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<br />69. <br /> <br />SUBLEASE OF AIRPORT PROPERTY FOR <br />OPERATION OF BUSINESS <br /> <br /> <br />THE STATE OF TEXAS <br /> <br />COUNTIES OF HAYS AND CALDWELL <br /> <br />This sublease agreement (this "Lease") is made between the following parties: The Lessor: Hearn <br />Aviation, Inc. and the Lessee: EBS, Inc. The City of San Marcos (the "City") is the owner of the San <br />Marcos Municipal Airport (the "Airport"), situated in San Marcos, Caldwell County, Texas. The <br />Lessor has leased a tract of property at the Airport from the City, and the Lessor has constructed a <br />commercial facility (the "Facility") on the property. This is a sublease by the Lessor to the Lessee <br />of a portion of the Facility. This sublease is subject to approval by the City. <br /> <br />Article 1. Lease of Premises; Acceptance of Existing Conditions; <br />Compliance with Regulations <br /> <br />1.01. In consideration of the obligation of the Lessee to pay rent and in consideration of the other <br />terms, covenants and conditions of this Lease, the Lessor subleases to the Lessee, and the Lessee <br />subleases from the Lessor the area of real property (the "Leased Premises") in Caldwell County, <br />Texas, described in Exhibit "A" attached to and made a part of this Lease for all purposes. <br /> <br />1.02. The Lessee acknowledges that 1) the Lessor makes no warranty regarding the suitability of <br />the Leased Premises for the Lessee's intended purposes, or the presence of environmental, geologic, <br />or other site conditions that may affect the Lessee's use of the Leased Premises; 2) the Lessee accepts <br />full responsibility for determining the suitability of the Leased Premises for its intended purposes; <br />3) the Lessee has inspected and performed all tests and investigations of the Leased Premises that <br />the Lessee considers necessary to satisfy itself as to the suitability of the Leased Premises for its <br />intended purposes; and 4) the Lessee is accepting the Leased Premises in their present condition, and <br />the Lessee agrees to perform all preparation, repairs, remediation and other activities necessary to <br />use the Leased Premises for the Lessee's intended purposes. <br /> <br />1.03. The Lessee agrees to comply with the San Marcos Municipal Airport Standard Operating <br />Procedures and Regulations and the Minimum Standards for Fixed Base Operators and Airport <br />Tenants, as they now exist or may be amended during the term of this Lease, and any conflict <br />between this Lease and these procedures, regulations and standards will be resolved in favor of the <br />procedures, regulations and standards. <br /> <br />Article 2. Rentrrerm <br /> <br />2.01. The Lessee agrees to pay to the Lessor a rental in the sum of $ 3,000.00 per month for the <br />entire area of the Leased Premises, throughout the remainder of the first year of the term of this <br />lease. Thereafter, the monthly rent shall increase by three percent (3%) in each following twelve <br />month period. <br /> <br />1 <br />