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LEASE OF AIRPORT PROPERTY <br />FOR USE AS AN FAA REPAIR STATION <br />THE STATE OF TEXAS <br />COUNTIES OF HAYS AND CALDWELL <br />WHEREAS, the Landlord owns San Marcos Municipal Airport (the "Airport") located in San <br />Marcos, Caldwell County, Texas, and in connection therewith owns a warehouse which is currently <br />being used by the City and the Airport Manager, Texas Aviation Partners, LLC, for storage; and <br />WHEREAS, the Tenant leases 2010 Airport Drive at the San Marcos in which it is operating its <br />FAA repair station; and <br />WHEREAS, Tenant's lease at 2010 Airport Drive is not being renewed; and <br />WHEREAS, the Landlord is willing to lease the existing warehouse to Tenant to operate its FAA <br />repair station and Tenant desires to lease the same from Landlord, but only in accordance with and <br />pursuant to the terms and conditions of this Lease Agreement. <br />NOW THEREFORE, for and in consideration of the covenants and obligations set forth herein, the <br />Landlord and Tenant agree as follows: <br />This lease agreement ( "Lease ") is made between the City of San Marcos, Texas, a municipal <br />corporation ( "LANDLORD ") and Specialized Aero, LLC, A Texas Limited Liability Company (the <br />"TENANT "). The Landlord is the owner of the San Marcos Municipal Airport (the "Airport") <br />situated in Caldwell County, Texas, by virtue of deeds from the United States of America. <br />This Lease is subject to approval by the Federal Aviation Administration. <br />Article 1. Lease of Premises; Acceptance of Premises "AS IS WITH ALL FAULTS "; <br />Disclaimer of Warranties and Condition of Premises; Compliance with FAA and Airport <br />Regulations <br />1.01. In consideration of the obligation of the Tenant to pay rent and in consideration of the other <br />terms, covenants and conditions of this Lease, the Landlord leases to the Tenant, and the Tenant <br />leases from the Landlord the warehouse located at 2285 Airport Drive, San Marcos, Caldwell <br />County, Texas save and except the portion of the warehouse designated by the Landlord as "Airport <br />Equipment Storage" ( "Leased Premises "). The Leased Premises is comprised of the Specialized <br />Aero Shop and Office Area together comprising approximately 6,380 total sq. ft. and the Common <br />Area. A diagram depicting the interior floor plan of the warehouse is contained in Appendix "A" <br />attached to and made a part of this Lease for all purposes. <br />Tenant: .47-- <br />