1985-003-RES WHEREAS, the City of Paris has received a request for permit and lease from Roger Sadler, d/b/a Saber

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of five (5) years beginning January 1, 1990 and ending December 31, 1994, and in the event this option is exercised and Lessee exercises and performs all of its duties and obligations hereunder during the first optional term hereof, then upon applying in writing not less than six (6) months nor !'lore than nine (9) months before the end of the said first optional term lessee shall have the right of a second optional term of five (5) years beginning January 1, 1995 and ending December 31, 1999, and then if lessee exercises and performs all of its duties and obligations hereunder during the second option term hereof, then upon applying in writing not less than six (6) months nor more than nine (9) months before the end of the sai d second optional ten"!, lessee shall have the right to exercise an option for a third optional five (5) year term beginning January 1, 2000, and ending December 31, 2004. Such first, second and third optional terms to be on the same terms and conditions and rental rates as established for primary term. If lessee exercises and performs all of its duties and obligations hereunder during the primary term, the first optional term, the second optional ter!'l and the third optional term, then upon applying in writing not less than six (6) months nor more than nine (9) months before the end of the said third optional term, lessee shall have the fi.rst right of refusal to execute a new lease of the demised premises for two addi- tional consecutive five-year periods, . with each lease for such additional period to be on such terms and conditions as lessor may prescribe and with the rentals provided for therein to be based on rental rates of comparable Fixed Base Operation lease in Northeast Texas at the time of the execution of each additional lease agreement. The addi- tional leases shall be upon the same terms and conditions herein other than as to rental rates. ARTICLE V Hangar Rental Option A. Option. In the event lessee exercises and performs all of its duties and obligations hereunder lessee is given and granted the right of first refusal to lease the City of Paris Main Hangar depicted on Exhibit "D" hereto attached. This option is available at the termination of the current lease to James M. Wrenn, Jr. ARTICLE VI A. Flowage Fee in Lieu of Rental for Ground and Equipment. As annual ground and equipment rental for real and personalty shown on Exhibit "A" and "B" attached hereto Lessee shall pay to Lessor a fuel flowage fee as follows: From To Gallons Fee per Gallon o 135,000 135,000 200,000 $ .01 .02