2005-074-RES GROUND LEASE WITH OPTION TO CONSTRUCT IMPROVEMENTS KNOX AERIAL SPRAYING

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, ' -- <' GROUND LEASE AGREEMENT COUNTY OF LAMAR ) ) ) KNOW ALL MEN BY THESE PRESENTS: .STATE OF TEXAS THIS GROUND LEASE AGREEMENT is made this 27th day of June, 2005, by and between the CITY OF PARIS, PARIS, TEXAS, a municipal corporation, acting by and through its City Manager, Tony N, Williams, duly authorized, hereinafter referred to as LESSOR, and KNOX AERIAL SPRAYING, 1201 F,M, 1509, Brookston, Texas, 75421, Lamar County, Texas, hereinafter referred to as LESSEE. WITNESSETH For and in consideration of the possible future construction of a hangar and the payment of the monthly ground lease payment, due on or before the 1 st day of each month, to the LESSOR, and each month thereafter, as follows: $100.00 per month, said LESSOR does lease, rent, and let unto LESSEE that portion of Cox Field property described in Exhibit "A," attached hereto and made a part hereoffor all legal purposes, hereinafter referred to as the property or leased premises. The first such monthly payment shall be due and payable on or before the first day of July, 2005, with successive monthly payments being due and payable on the first day of each month thereafter during the term hereof. LESSEE hereby leases the leased premises from LESSOR subject to the terms, covenants and conditions stated below, and shall have the right and privilege to construct and maintain certain improvements as described herein on the leased premises. LESSEE has inspected the leased premises and accepts it in its present (as-is) condition unless expressly noted otherwise in this Lease, LESSOR and any agent have made no express or implied warranties as to the condition or permitted use of the leased premises. LESSEE must satisfy Ground Lease AEreement. page 1 EXHIBIT ./l