2009-066-RES-Construction of a new hangar at Cox field

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This Lease shall be effective as of the date last signed by the parties hereto ("Effective Date"). The term of the Lease shall be for a period of thirty (30) years, beginning on the effective date, and ending thirty (30) years thereafter ("Initial Term"). The monthly ground lease 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 monthly rate increase, LESSOR shall, on 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 thereo fl 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 Leased Premises and all improvements, additions, alterations and fixtures shall become the property of LESSOR without compensation to LESSEE. LESSOR shall solicit competitive quotes for the lease of the hangar and related improvements 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 quotes and to solicit new quotes when LESSOR deems such action in LESSOR's best interest is hereby preserved. Based on the results of said solicitation for quotes to lease the hangar, the LESSOR shall determine the quote which represents the highest and best quote meeting all criteria established by the LESSOR for rental of the property. When the LESSOR has determined the highest and best quote, the LESSOR shall thereafter offer LESSEE the opportunity for thirty (30) days to lease the Hanear Lease A¢reement - page 2