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AIRPORT GROUND LEASE AGREEMENT <br />THE STATE OF TERAS <br />KNOW ALL MEN BY THESE PRESENTS <br />COUNTY OF LAMAR <br />This Lease Agreement (AGREEM EN I) is made by and between the City of Paris, Texas, a home <br />rule municipal corpdration (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)- >beeginning-hie 22, 2009 and -ending June -ft 2099:-AwAssiganwat of Lease -vas <br />executed June 8, 2015, transferring the ground lease to Erik Zarones. On March 14, 2016, City <br />Council approved a five-year extension of said ground team to Erik Zarones beginning Jure 21, 2039 <br />and ending June 22, 2044. On December 10, 2018, City Council approved an additional five-year <br />extension of said ground lease beginning June 21, 2044 and ending June 22, 2049. <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 unto LESEE that portion of Cox Field real property as <br />described -in Exhibit A- attached hereto and grade a part hereof <br />LESSEE hereby leases said real property from LESSOR subject to the terms, covenants, and <br />conditions state 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 and <br />hold the leased premises, together with all rights, privileges, easements, ate, and <br />immunities belonging to or in any way appertaining to said leased premises, including, but not <br />limited to, any and all easements, dots, -title and privileges of LESSOR now or hereafter existing in, <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, taxiways and designated <br />aprons which are or may hereafter be provided at the Airport. <br />LEASE TERMS: <br />I. Subject to the provisions contained herein, LESSEE shall pay to LESSOR an annual ground <br />lease payment of $0.20 per square foot, to be paid in advance, beginning on the commencement date <br />