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<br />0g/15/2004 11:45
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<br />PAGE 03/05
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<br />51227g0807
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<br />DUNAGAN CHILDS
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<br />Sublease are hereby amended to state that commencing on January 1, 2005 and continuing throughout
<br />the Tenn and any Renewal Term, the monthly Rent due shall increase annually, each January 1", by
<br />3% over and above the priot rental rate.
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<br />5- 0pi-inn to Pll~h::!~ RlIilding: The option to purchase language of paragraph 2 of the Sublea..~
<br />is hereby amended to state that for adequate consideration, the receipt and sufficiency of which are
<br />hereby acknowledged, Assignee shall have the exclusive right and option to purchase all of Lessor's
<br />right, title~ and interest in and to the Building and Lessor's leasehold as set forth in that eertain "Lease
<br />for AiIport Property for a Business Facility" dated July 23, 1998 with the City of San Marcos (the
<br />.'Master Lease") for the sum of $200,000.00 which option may be exercised at any time during the
<br />Term or any Renewal Period hereof. Forty percent (40%) of all Rent paid from and after the Effective
<br />Date of this .Amendment for a maximum of eighteen (18) months shall apply and be credited to
<br />Assignee toward the purchase price of the Building at any time duri.ng the Term or any Renc\\I"3.1 Term.
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<br />6. Oaml'lgr. tn RlIilr1ing: Notwithstanding anything set forth in Paragraph 5 ofthc Sublease, if the
<br />Building is rendered unusable for the Assignee"s intended use, and repairs are expected to take more
<br />than ninety (90) days to complete, then Assignee may te.rminate this Sublease. In the event Assignee
<br />chooses to terminate this Sub.lease under this paragraph, Assignee shall remove and dispose of the
<br />paint booth, storage room, any vent stacks, removing curbing and restoring sumps in the stripping area
<br />to original grade, thus allowing the building to be restored by Lessor to it's original use of a storage
<br />hanger.
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<br />7, MaintfIDanc.e; Throughout the Term or any Renewal Te.1JTI hereof, Lessor shall maintain the
<br />roof, ex1erior walls, structure, windows and frames, utilities, electrical systems and equipment,
<br />plumbing systems and equipment, overhead doors. and other equipment in good working order,
<br />replacing and repairing such components as are required consistent with it's original use as an airplane
<br />storage hanger. Not\\-ithstanding the foregoing, Assignee shall be responsible for routine maintenance
<br />of plumbing, HV AC, overhead doors. and lighting systems only. Assignee sball be responsible for all
<br />maintenance and repair associated with all tenant improvements installed within the Building, the paint
<br />booth and its eqllipment, and related fixtures within the Building. Assignee shall further be
<br />responsible for all maintenance and repairs caused by Assignee's use of the Building. Upon expiration
<br />or tennination of the Sublease, Assignee shall promptly remove all tenant improvements, furniture,
<br />fixtures, and equipment, including the paint booths, storage room, vent stacks, curbing, sumps, and
<br />related property, located within or adjacent to the Building.
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<br />8. C.onditions Precp4ien1" to A~"i8nment. Thi.s Amendment is expressly conditioned upon the
<br />following conditions precedent:
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<br />a) Assignee's receipt of v.rrinen approval to conduct its business within the Building from aU
<br />applicable governmental and regulatory authorities, including the City of San Marcos and the
<br />San Marcos Municipal Airport Authority. If at any time, Assignee is prohibited from
<br />conducting the approved business within the Building through loss of any requited public
<br />approva1(s) and through no fault of Assignee, then Assi.gnee may terminate this Sublease.
<br />b) Assignee's receipt of an amortiz.ation schedule of sums applied to Lessor's credit for building
<br />construction under paragraph 2.03 Lessor's Lease for Airport Propeny for a Business Facility
<br />with the City of San Marcos, certified or approved by the City of San Marcos, and I or the San
<br />Marcos Municipal Airport. as applicable.
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<br />Amendment to Sublease of Airport Property
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