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DRAFT 92 COX FIELD AIRPORT <br />T- HANGAR AIRCRAFT STORAGE LEASE <br />( "Tenant ") and the City of Paris, Paris, Texas, d/b /a Cox Field Airport <br />( "Owner ") agree as follows: <br />1. Subject to the terms hereof, Owner shall permit Tenant to store an aircraft in T -Hangar <br />Number (hereinafter called T- Hangar) at the Cox Field Airport. Except as provided <br />in. Paragraph 4 and elsewhere herein, the term of this agreement and the rentals due <br />hereunder shall continue until such time as one parry gives the other written notice of <br />termination, as herein provided. Either parry may, upon written notice to the other, delivered <br />at least thirty (30) days before the end of the calendar month, terminate this agreement <br />without cause at such effective date. Owner may, in addition to all other rights, give written <br />notice terminating this agreement at any time, such termination to be effective at the time set <br />forth in such notice. All notices hereunder to the Owner shall be in writing and shall be <br />addressed and mailed as follows: <br />Airport Director <br />Cox Field Airport <br />P. O. Box 9037 <br />Paris, TX 75461 -9037 <br />All notices to the Tenant shall be in writing and shall be mailed to the Tenant at the address <br />indicated below. If the United States Postal Office shall return any such notice to the Tenant, <br />notice shall be given by posting the same on the T -Hangar door. <br />Name: <br />Address: <br />2. Tenant shall: <br />A. Pay to the City of Paris, P. O. Box 9037, Paris, TX 75461, as rental for the right to <br />use the T- Hangar as herein set forth, the sum of $ per month payable in <br />advance. If the term hereof commences on other than the first day of a month, the <br />first month's rent shall be pro -rated on a daily basis. A month's rent shall be due <br />from Owner on the first day of each and every month during the term hereof and <br />Tenant shall be deemed to be in default hereunder if such rent is not received by the <br />Airport at the above - indicated address by the fifteenth day of each month. <br />PAYMENTS NOT RECEIVED BY THE 15TH OF THE MONTH ARE SUBJECT <br />TO A LATE CHARGE OF 10% OF THE UNPAID BALANCE. <br />Page 1 of 4 <br />