23-Construction of a hangar at Cox Field

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LESSEE shall prepare complete plans and specifications for the proposed construction. A construction application and final plans and specifications, when rendered, shall be submitted to the LESSOR for approval. The LESSEE shall include in all construction contracts entered into by it, in connection with any or all of the construction work, a provision requiring all contractors to indemnify, hold harmless, defend and insure LESSOR, its officers, agents, and employees, against the risk of death, injury, or damage to persons or property, direct or consequential, arising out of or in connection with the performance of any or all of such construction work. The LESSEE shall require all contractors to furnish liability insurance in such reasonable amounts as may be required by the LESSOR. In the alternative, the LESSEE himself may provide the indemnity and liability insurance otherwise required of contractors. All plans and specifications referred to above and all construction, renovation, remodeling, or refurbishing to or upon the leased premises shall meet all current codes required by the LESSOR and shall provide for the construction to be from material satisfactory and acceptable to the LESSOR. During the progress of all work, LESSOR's duly authorized representative may enter upon the leased premises and make such inspections as may be reasonably necessary for the purpose of satisfying LESSOR that the work or construction meets such requirements and standards. The LESSEE further covenants that all construction work to be performed by him or his contractors, including all workmanship or materials shall be of first class quality and shall be performed in accordance with the plans and specifications approved by the LESSOR. LESSEE agrees that he shall deliver to the LESSOR "as built" transparencies of the improvements constructed by him and shall, during the term of this Lease keep such transparencies, if any, current, showing thereon any changes or modifications which may be made in ar to the improvements. LESSEE shall also provide a detailed cost summary of the costs incurred in constructing the hangar. The requirements stated herein for construction of the improvements shall likewise apply to any improvements or alterations to the original structure approved by LESSOR. In the event that LESSEE fails to comply with the provisions of this section of this Lease, the LESSOR may, in addition to any other remedies available to it, terminate this Lease. 10. That ownership of the hangar building, apron, and other associated improvements Han¢ar Lease Agreement - page 6 a 6 tiC, 1