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<br />7. That LESSEES will use that portion of such premises in their possessions for <br /> <br />private hangar space, for aeronautical activities for which they hold permits issued by the City <br /> <br /> <br />of Paris in accordance with Article II of Chapter 6 of the Code of Ordinances of the City of <br /> <br /> <br />Paris. Further, it is hereby agreed by and between LESSOR and LESSEES that LESSEES shall <br /> <br /> <br />be permitted to sublease any or all portions of the premises described in Attached Exhibit "A" <br /> <br /> <br />for private hangar space and for aeronautical activities for which sublessee holds a permit issued <br /> <br /> <br />by the City of Paris in accordance with Article II of Chapter 6 of the Code of Ordinances of the <br /> <br /> <br />City of Paris. <br />8. That, if in the course of using such premises for the permitted purposes, <br /> <br /> <br />LESSEES desire to build, at their own expense, a hangar building and apron in pursuit of such <br /> <br /> <br />uses, LESSEES will be so permitted upon application and approval for building permit or <br /> <br /> <br />permits from the City of Paris, of all steel construction, similar in appearance and construction <br /> <br /> <br />to the existing enclosed hangars in accordance with the floor plan described in Exhibit B, <br /> <br /> <br />attached hereto and made a part hereof for all legal purposes, and such structure will not violate <br /> <br /> <br />any of the rules or regulations of the City of Paris or the Federal Aviation Administration. It <br /> <br /> <br />being agreed and understood that LESSEES shall be responsible for electric utilities furnished <br /> <br /> <br />to the hangar building during the term of this Lease. In the event of a termination of this Lease <br /> <br /> <br />by the City of Paris, as permitted herein during the first TWENTY-FIVE (25) years of said <br /> <br /> <br />Lease, the City of Paris will be obligated to pay to LESSEES 1I25th of the original cost of said <br /> <br /> <br />hangar and apron, multiplied by the number of years remaining in the first TWENTY-FIVE (25) <br /> <br /> <br />years of this Lease, which ends October 14, 2020. In the event that final termination of said <br /> <br /> <br />Lease occurs during the final TEN (10) years of said Lease, there shall be no payment due <br /> <br /> <br />LESSEES. In the alternative, in lieu of payment for termination during the first TWENTY- <br /> <br /> <br />FIVE (25) years of the term of this Lease, the City of Paris may agree to give LESSEES hangar <br /> <br /> <br />space of equal quality, size and usefulness, at no expense to LESSEES, for the remainder of the <br /> <br /> <br />first TWENTY-FIVE (25) years of the term of this Lease, and, in such event, LESSEES are <br />