23-Construction of a hangar at Cox Field

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LESSOR shall deliver possession of the leased premises to LESSEE as of the effective date hereof. LESSEE shall be responsible for maintenance and insurance coverage on the leased premises upon delivery of possession to LESSEE. This Lease shall be effective as of the date last signed by the parties hereto. The term of this Lease is for twenty-five (25) years, beginning on the effective date, and ending on the day of , 2039 ("Initial Term"). The monthly rent established herein shall be subject to increase every five (5) years, beginning on the fifth anniversary of the effective date, the monthly rent shall be increased by the percentage amount of increase in the Consumer Price Index for All Urban Consumers Dallas-Fort Worth area ("CPI-U") from the effective date of this Agreement to the CPI-U for May 2014, and in a similar manner every five (5) years thereafter. The CPI-U Indexes prepared by the United States Bureau of Labor Statistics, shall be used for calculating these rental increases. In the event the U.S. Department of Labor, Bureau of Labor Statistics ceases to publish the C.P.I., the parties hereto agree to substitute another equally authoritative measure of change in the purchasing power of the U.S. dollar as may be then available (such as the Municipal Cost Index) so as to carry out the intent of this provision. In determining the rate increase, the LESSOR shall, by or before July 1 st of each fifth year, or as soon thereafter as reasonably possible, provide written notice to the LESSEE of the amount of the CPI increase (including appropriate documentation thereof) and the LESSOR's calculation of the new monthly rental based on said increase. Beginning with the monthly payment due the first of the month following receipt of LESSOR's notice, LESSEE shall pay the adjusted monthly rate as determined herein. If, for any reason, the CPI adjustment would result in a decrease in the monthly rental due, the previous rental shall remain in effect. In no event shall the monthly rental rate be decreased. At the end of the Initial Term as specified herein, the LESSOR shall solicit competitive prices for lease of the hangar upon such terms and conditions and for such lengths of time as the LESSOR in its sole discretion shall determine. LESSOR's right to reject all bids and solicit new bids when LESSOR deems such action in LESSOR's best interest is hereby preserved. Based on the results of said solicitation for bids, the LESSOR shall determine that bid which represents the HanEar Lease AEreement - page 2 a U0C18-..