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

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and incorporated herein by reference), of all steel construction, similar in appearance and construction to the existing enclosed hangars at Cox Field and in accordance with the plans described in Exhibit "B," attached hereto and made a part hereof for all legal purposes, and in conformance with all other rules and regulations of the City of Paris, the Texas Department of Transportation and the Federal Aviation Administration. LESSEE agrees to commence construction of the hangar and related improvements upon approval of plans and specifications by LESSOR and receipt of building permits and to complete construction of the hangar, and other improvements (as more fully described in Exhibit "B"), within eighteen (18) months following the effective date of this Lease. Failure on the part of LESSEE to complete construction of the hangar and other improvements described herein within eighteen (18) months, except for reasons of force majeure, shall be grounds far termination of this Agreement. Prior to construction of the improvements, the LESSEE shall obtain the LESSOR's written approval of the plans and specifications for such construction. The preliminary plans to be submitted by LESSEE shall employ essentials of aesthetics, convenience, function and design, and the proposed improvements shall be compatible in such respect with other improvements at Cox Field. Upon approval of such preliminary plans, LESSEE shall prepare final 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 the improvements to be constructed, a provision requiring all contractors to indemnify, hold harmless, defend and insure LESSOR, its officers, agents, and employees, against all risk of injury, death or damage to persons ar 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 and subcontractors working on the Leased Premises to furnish proof of general commercial liability insurance and workman's compensation insurance in the minimum amounts of $250,000 per occurrence and $500,000 aggregate far general commercial liability and the statutory minimum limits for workman's compensation insurance for its employees as required by the State of Texas. In the alternative, the LESSEE himself may provide the indemnity and liability insurance otherwise required of contractars. Hansar Lease A¢reement - page 4