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AIRPORT GROUND LEASE AGREEMENT <br />THE STATE OF TEXAS § <br />COUNTY Or LA MAR § <br />KNOW ALLME, N BY THESE PRESENTS <br />This Lease Agreement (AGREEMENT') is made by and between the City of Paris, Texas, a home <br />rule municipal corporation (LESSOR) and ERIK ZARONES (LESSEE) Hangar A-7. <br />Execution of this ground lease agreement initially was approved by Resolution No.. 2009-066, and <br />was between William T. Booth/Magnum Performance and the City of Paris. The term. was for thirty <br />(30)-yearsy-beginni-WJune 22, 2009 and ending June- 2-1 5 2039. - -An Assignrnent of Lease -was <br />executedJune 8, 2015, transferring the ground lease to Erik Zarones. On March 14, 2016, City <br />Council approved a five-year extension of said ground lease to Erik Zarones beginning June 21:,2039 <br />and ending Ame 22, 2044. On December 10, 20185 City Council approved an. additional five -y. -car <br />extension of said ground leasebeginning June 21, 2044 and ending June 22, 2049. <br />.1 <br />For and in consideration of the construction of a new airplane hangar(s) and related improvements, <br />as further described herein, and for the payment of monthly ground lease rental to LESSOR, <br />LESSOR does hereby lease,rent, and let to LESEE that portion of Cox Field realproperty as <br />described in-Exi'bit A,, -attashed -hereta-and--rade a part hereof. <br />LESSEE hereby leases said real property from. LESSOR, subject to the terms, covenants, and <br />conditions state below, andshall 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 suNect to the provisions hereof, LESSEE shall have and <br />hold the leased premises, -together with all rights,ivilegeseasements, appurtenances, and <br />.pr , P <br />irmunities 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 ex.stung inn, <br />to, or -under said leased premises, and additionally LESSEE shall be permitted to use in common <br />with others all streets and other rights of ingress and egress and all runways, -taxiwaysan. d designated <br />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 an annual ground <br />lease payment of $0.20 pensquare foot, to be paidin advance, beginning on the cornmencernent date <br />