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VOL 191 PAGE 818 61 983291. LEASE OF AIRPORT PROPERTY FOR A BUSINESS FACILITY THE STATE OF TEXAS COUNTIES OF HAYS AND CALDWELL (Jtt This lease agreement ("Lease") is made ~e:':~he City of San Marcos, Texas, a municipal corporation (the "Lessor") and Hearn Aviation, . - . Hie "Lessee"). The Lessor is the owner of the San Marcos Municipal Airport ("Airport"), situated in Caldwell County, Texas, by virtue of deeds from the United States of America. This Lease is subject to approval by the Federal Aviation Administration. Article 1. Lease of Premises; Acceptance of Existing Conditions; Compliance with Regulations 1.01. In consideration of the obligation of the Lessee to pay rent and in consideration of the other terms, covenants and conditions of this Lease, the Lessor leases to the Lessee, and the Lessee leases from the Lessor the existing metal frame structure (the "Building") located at 2275 Airport Drive, consisting of approximately 14,640 square feet of ground space (the "Leased Premises") in Caldwell County, Texas, described in Exhibit "A" attached to and made a part of this Lease for all purposes. 1.02. The Lessee acknowledges that 1) the Lessor makes no representations or warranty regarding the suitability of the Building or the Leased Premises for the Lessee's intended purposes, or the presence of environmental, geologic, or other site conditions that may affect the Lessee's use of the Building or'the Leased Premises; 2) the Lessee accepts full responsibility for determining the suitability of the Building and the Leased Premises for its intended purposes; 3) the Lessee has inspected and performed all tests and investigations of the Building and the Leased Premises that the Lessee considers necessary to satisfy itself as to the suitability of the Leased Premises for its intended purposes; and 4) the Lessee is accepting the Building and the Leased Premises in their present condition, and the Lessee agrees to perform all preparation, repairs, remediation and other activities necessary to use the Building and the Leased Premises for the Lessee's intended purposes. 1.03. The Lessee agrees to comply with the San Marcos Municipal Airport Standard Operatina Procedures and Reaulations and the Minimum Standards for Fixed Base Operators and Airport Tenants, as they now exist or may be amended during the term of this Lease, and any conflict between this Lease and these procedures, regulations and standards will be resolved in favor of the provisions that are stricter in terms of the Lessee's obligations. Article 2. Rent/Term 2.01. Rental shall accrue from the commencement date of this Lease, and shall be payable at the place designated for the delivery of notices to the Lessor in paragraph 15.11. 2.02. The Lessee agrees to pay to the Lessor a fixed rental in the sum of $.05 per square foot per month for the entire area of the Leased Premises. The monthly amount is $ 732.00, which shall be due and payable on the last day of each month for the succeeding month. 1