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<br />Article 2. RentlTerm <br /> <br />2.01. Rental shall accrue from the commencement date of this Lease, and shall be <br />payable at the place designated for the delivery of notices to the Lessor in paragraph <br />15.11. <br /> <br />2.02. The Lessee agrees to pay to the Lessor a fixed rental in the sum of $.10 per square <br />foot per year for the entire area of the Leased Premises. The annual amount for the fixed <br />rental shall be paid in equal monthly installments in the amount of $ 30.00, which shall be <br />due and payable on the last day of each month for the succeeding month. The Lessee, <br />at its option, may make advance payments of up to one year's rentals, but there will be no <br />discount for these payments. <br /> <br />2.03. The Lessor agrees that the revenue derived from this Lease wi II be allocated toward <br />maintenance and improvement of the Airport. This requirement is not mandatory, however, <br />unless it is required by existing indenture or agreement with the United States government. <br /> <br />2.04. If the Lessee fails to pay any rent or any other sum payable to the Lessor under the <br />terms of this Lease when due, then interest at the maximum legal rate in the State of Texas <br />shall accrue from the date on which the sum became due and payable. <br /> <br />2.05. The term of this Lease will commence on January 10 ,2000 and will extend <br />for a period of 20 years. The Lessee will have the right of first refusal for continuing <br />occupancy under a revised lease at the expiration of this term if the Lessee is not in <br />default under the terms of this Lease at the time of expiration. The terms of the revised <br />lease will be similar to those offered by the Lessor for similar improved property at the <br />Airport at that time. <br /> <br />Article 3. Use and Care of Premises <br /> <br />3.01. The use of the Leased Premises by the Lessee shall be restricted to non- <br />commercial aviation purposes, unless otherwise approved in writing by the Lessor. <br />Specifically, the Leased Premises shall be used and occupied for the purpose of aircraft <br />storage and for no other purposes without the advance written consent of the Lessor. The <br />Lessee shall use the Leased Premises in good faith continuously for this purpose <br />throughout the term of this Lease. <br /> <br />3.02. The Lessee shall not place or keep anything on the Leased Premises or use the <br />Leased Premises for any purpose which increases the insurance premium cost or <br />invalidates any insurance policy carried on the Leased Premises, without the Lessor's <br />advance written consent. The Lessee agrees that the risk of loss and damage for all <br />property kept, stored or maintained by it within the Leased Premises shall be the Lessee's. <br /> <br />COSH Form 1/99 <br /> <br />2 <br />