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ARTICLE 1V <br />Term of Leasehold <br />Term. The term of this lease > shall. be for a <br />period of 5 years commencing February 8, 1993, and ending <br />February 7, 1995. if lessee exercises and perform: all of <br />its duties and obligations hereunder during the term hereof, <br />then upon applying in writing not less than six (6) months <br />nor more than nine (9) months before the end of the said <br />term, lessee shall have an option for a term of five (5) <br />years beginning February 8, 1998, and ending February 7, <br />2003, with the lease for such additional period to be on the <br />same terms and conditions as the initial term. <br />ARTICLE V <br />RENTAL FEE <br />A. Flowage Fee in Lieu of Rental for Ground and <br />Equipment. As annual ground and equipment rental for real <br />and personalty shown on Exhibit "A ", "B" and "C" attached <br />hereto Lessee shall pay to Lessor a fuel flowage fee as <br />follows: <br />From <br />To Gallons <br />Fee per Gallon <br />0 <br />135,000 <br />$ .05 <br />135,000 <br />200,000 <br />.06 <br />200,000 <br />250,000 <br />.07 <br />250,000 <br />300,000 <br />.08 <br />300,000 <br />Infinity <br />.09 <br />B. Time of <br />Payment. All <br />fuel <br />flowage fees shall be <br />paid on or before <br />the third day <br />of the <br />month following the <br />month in which the <br />sale was made. <br />C. Payment <br />for Office Rental. <br />The 196.4 square feet <br />of office space described on Exhibit <br />A -1 attached hereto is <br />leased to LESSEE at the monthly <br />rate: <br />of $53.00, which shrill <br />be paid monthly <br />on or before <br />the <br />3rd day of the month <br />following the month for which the <br />same <br />is due. <br />ARTICLE <br />VI <br />insurance, Indemnification and Performance Security <br />A. Fire Insurance. During the full term of this <br />lease, lessee shall, at its sole cost and expense, cause all <br />improvements constructed by it on the demised premises to be <br />kept insured to the full insurable value thereof against the <br />perils of explosion, lire and like perils. <br />Said insurance shall be procured from a company <br />authorized to do business in the State of Texas and satis- <br />factory to lessor, and lessee shall provide evidence satis- <br />factory to lessor that such coverage has been procured and is <br />being maintained. <br />The proceeds of any such insurance paid on account <br />of any of the perils aforesaid shall be used to defray the <br />cost of repairing, restoring or reconstructing said improve- <br />ments, as necessary, in the opinion of lessor. <br />Property insurance policies required by this <br />paragraph shall contain waiver of subrogation endorsements <br />