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<br />LEASE OF UNIMPROVED AIRPORT PROPERTY FOR <br />CONSTRUCTION AND OPERATION OF BUSINESS FACILITIES <br /> <br />THE STATE OF TEXAS <br /> <br />COUNTIES OF HAYS AND CALDWELL <br /> <br />This lease agreement ("Lease") is made between the City of San Marcos, Texas, a municipal <br />corporation (the "Lessor") and Wright Corporation (the "Lessee"). The Lessor is the owner of the <br />San Marcos Municipal Airport (the "Airport"), situated in Caldwell County, Texas, by virtue of <br />deeds from the United States of America. <br /> <br />This Lease is subject to approval by the Federal Aviation Administration. <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 ofthis Lease, the Lessor leases to the Lessee, and the Lessee leases <br />from the Lessor the 1.033 acre tract 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 representations or warranty regarding <br />the suitability of the Leased Premises for the Lessee's intended purposes, or the presence of <br />environmental, geologic, or other site conditions that may affect the Lessee's use of the Leased <br />Premises; 2) the Lessee accepts full responsibility for determining the suitability of the Leased <br />Premises for its intended purposes; 3) the Lessee has inspected and performed all tests and <br />investigations of the Leased Premises that the Lessee considers necessary to satisfy itself as to the <br />suitability of the Leased Premises for its intended purposes; and 4) the Lessee is accepting the Leased <br />Premises in their present condition, and the Lessee agrees to perform all preparation, repairs, <br />remediation and other activities necessary to use the Leased Premises for the Lessee's intended <br />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. Rentlferm <br /> <br />2.01. Rental shall accrue from the commencement date of this Lease, and shall be payable at the <br />place designated for the delivery of notices to the Lessor in paragraph 15.11. <br /> <br />COSM form 1/99 <br />