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<br />,VOL 176PAGf 610 16 <br />LEASE OF AIRPORT PROPERTY <br /> <br />THE STATE OF TEXAS <br />COUNTIES OF HAYS AND CALDWELL <br /> <br /> <br />This Lease Agreement ("Lease") is made between the City of San Marcos, Texas <br />("Lessor") and Cyle E. Hogue and Sally C. Hogue ("Lessees"). <br />The Lessor is the owner of the San Marcos Municipal Airport ("Airport"), situated <br />in Caldwell County, Texas, by virtue of deeds from the United States of America. <br />The effectiveness of this Lease is subject to approval by the Federal Aviation <br />Administration. <br /> <br />ARTICLE 1. <br />Leased Premises: Acceptance of Premises; Compliance with Regulations <br /> <br />1.1 In consideration of the obligation of Lessees to pay rent and in consideration of the <br />other terms, covenants and conditions, Lessor demises and leases to Lessees, and <br />Lessees take from Lessor the 2,250 square foot tract of real property (the "Leased <br />Premises") in Caldwell County, Texas, described in Exhibit "A" and made a part of <br />this Lease for all purposes. <br /> <br />1.2 Lessees acknowledge that they have fully inspected, or have been provided the <br />opportunity to fully inspect, the Leased Premises to determine their suitability for <br />the purposes of this Lease, and the presence of objectionable environmental, <br />geological or soil conditions, and that Lessees are accepting the Leased Premises <br />in their present condition. By occupying the Leased Premises, Lessees shall be <br />deemed to have accepted the Leased Premises and to have acknowledged that the <br />premises comply fully with Lessor's covenants. <br /> <br />1.3 Lessees acknowledge that they will comply with the San Marcos Municipal Airport <br />Standard Operatina Procedures and Reaulations and the Minimum Standards for <br />Fixed Base Operators and Airport Tenants, as these now exist or may be amended <br />during the term of this Lease, and any conflict between this Lease and these <br />Procedures, Regulations and Standards will be resolved in favor of the Procedures, <br />Regulations and Standards. <br /> <br />ARTICLE 2. <br />Rent/Term <br /> <br />2.1 Rental shall accrue from the commencement date of this Lease as provided below, <br />and shall be payable at the place designated for the delivery of notices to Lessor <br />at the time of payment. <br /> <br />2.2 Lessees shall pay to Lessor a fixed rental in the sum of ten cents (10 Ø) per square <br />foot per year for the Leased Premises. The annual amount fOi the fixed rental shall <br />be paid in equal monthly installments in the amount of $18.75 and shall be due and <br />payable on the last day of the month for the succeeding month. The parties agree <br />that the first installment for the fixed rental shall be abated, but all other fees due <br />under this Lease shall be paid as required. <br /> <br />2.3 Lessor agrees that all airport revenue derived from Lessees and any other user <br />of the property should be allocated toward the maintenance of the Airport and any <br />improvements; provided, however, that this requirement shall not be considered <br />mandatory upon the Lessor unless it is so required by existing indenture or <br />agreement with the Federal Government or any amended or substitute indentures <br />and agreements entered into with the Federal Government. <br /> <br /> <br />- <br /> <br />7?~¡J!N It'J CITY OF SAN MARCOS <br />ATTN' Legal Dept. <br />630 East Aop.kins St!eet <br />San Marcos, TX 78066 <br />