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AIRPORT HANGAR LEASE AGREEMENT <br />THE STATE OF TEXAS § <br />COUNTY OF LAMAR § <br />KNOW ALL MEN BY THESE PRESENTS <br />This Hangar Lease Agreement (Lease) is made by and between the City of Paris, Texas, a home <br />rule municipal corporation (LESSOR), and <br />(LESSEE). <br />For and in consideration of the payment of monthly hangar rental paid to LESSOR, LESSOR <br />does hereby lease, rent, and let unto LESEE that portion of Cox Field real property known as <br />Hangar , and as described in Exhibit A, attached hereto and made a part hereof for all legal <br />purposes. <br />LESSEE hereby leases said real property from LESSOR subject to the terms, covenants, and <br />conditions stated below, and shall have the right and privilege to construct and maintain certain <br />improvements of said property. LESSEE accepts property "as is." <br />Except to the extent provided herein and subject to the provisions hereof, LESSEE shall have <br />and hold the leased premises, together with all rights, privileges, easements, appurtenances, and <br />immunities belonging to or in any way appertaining to said leased premises, including, but not <br />limited to, any and all easements, rights, title and privileges of LESSOR now or hereafter <br />existing in, to, or under said leased premises, and additionally LESSEE shall be permitted to use <br />in common with others all streets and other rights of ingress and egress and all runways, <br />taxiways and designated aprons which are or may hereafter be provided at the Airport. <br />LEASE TERMS: <br />1. Subject to the provisions contained herein, LESSEE shall pay to LESSOR a monthly hangar <br />payment of $ per month, to be paid on or before the 1st day of each month, <br />beginning on the commencement date of this lease and continuing regularly thereafter during the <br />term of this lease and any extensions thereof. At its sole option, LESSEE may prepay any of the <br />rental installments. <br />2. Rental rates established herein shall be subject to increase annually, on the first day of the <br />month in which lease begins, in an amount equal to the percentage increase in the local <br />Consumer Price Index (CPI) for Dallas -Fort Worth, Texas, or other rates prevailing in the Paris <br />2 <br />