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<br /> <br /> <br /> <br /> and incorporated herein by reference), of all steel construction, similar in appearance and <br /> construction to the existing enclosed hangars at Cox Field and in accordance with the plans <br /> <br /> described in Exhibit "B," attached hereto and made a part hereof for all legal purposes, and in <br /> conformance with all other rules and regulations of the City of Paris, the Texas Department of <br /> <br /> Transportation and the Federal Aviation Administration. <br /> LESSEE agrees to commence construction of the hangar and related improvements upon <br /> <br /> approval of plans and specifications by LESSOR and receipt of building permits and to complete <br /> construction of the hangar, and other improvements (as more fully described in Exhibit "B"), <br /> <br /> within eighteen (18) months following the effective date of this Lease. Failure on the part of <br /> LESSEE to complete construction of the hangar and other improvements described herein within <br /> <br /> eighteen (18) months, except for reasons of force majeure, shall be grounds for termination of this <br /> Agreement. <br /> <br /> Prior to construction of the improvements, the LESSEE shall obtain the LESSOR's written <br /> approval of the plans and specifications for such construction. The preliminary plans to be <br /> <br /> submitted by LESSEE shall employ essentials of aesthetics, convenience, function and design, and <br /> the proposed improvements shall be compatible in such respect with other improvements at Cox <br /> <br /> Field. Upon approval of such preliminary plans, LESSEE shall prepare final plans and <br /> specifications for the proposed construction. A construction application and final plans and <br /> <br /> specifications, when rendered, shall be submitted to the LESSOR for approval. The LESSEE <br /> shall include in all construction contracts entered into by it, in connection with the improvements <br /> <br /> to be constructed, a provision requiring all contractors to indemnify, hold harmless, defend and <br /> insure LESSOR, its officers, agents, and employees, against all risk of injury, death or damage to <br /> <br /> persons or property, direct or consequential, arising out of or in connection with the performance <br /> of any or all of such construction work. The LESSEE shall require all contractors and <br /> <br /> subcontractors working on the Leased Premises to furnish proof of general commercial liability <br /> insurance and workman's compensation insurance in the minimum amounts of $250,000 per <br /> <br /> occurrence and $500,000 aggregate for general commercial liability and the statutory minimum <br /> limits for workman's compensation insurance for its employees as required by the State of Texas. <br /> In the alternative, the LESSEE himself may provide the indemnity and liability insurance <br /> <br /> otherwise required of contractors. <br /> <br /> <br /> <br /> Hanzar Lease Aereement - page 4 <br /> <br /> <br /> <br /> 192 <br />