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ARTICLE III Obligations of Lessee A. Net Lease. Except as herein specifically pro- vided, the use and occupancy of the demised premises by lessee shall be without cost or expense to lessor. It shall be the sole responsibility of lessee to keep, maintain, repair and operate the entirety of all the premises leased hereunder and all improvements and facilities thereon at lessee's sole cost and expense. B. Minimum Hours of Operation. Lessee shall maintain FBO and fuel sales operation from 8:00 A.M. to 5:00 P.M. from October 1 through March 31. and from 8:00 A.M. to dark from April 1 through September 30. C. Purchase of Equipment. Lessee shall purchase the equipment shown on Exhibit at the prices shown thereon. Any items shown on sal exhibit without a price is being delivered to Lessee for his use during the term of this lease at no cost to lessee, to be returned to lessor at the expiration or termination of this lease. D. Conditions of Premises. Lessee accepts all the premises demised hereunder in their present condition, and, without expense to lessor, will repair and maintain any installation thereon, and remove or cause to be removed any debris to the extent required to keep said premises in a neat and presentable condition at all times. E. Obligation to Construct. Lessee, at his sole cost and expense, shall provide for, the location, construction, erection and maintenance of improvements upon the demised premises for the purpose of carrying out the activities provided for herein. Said improvements shall include: upgrading the terminal waiting area, installation of 24 -hour weather information, necessary antenna's, restaurant (future) , tie down areas (future), hangars (future) , office (future) and other construction as necessary to serve the flying public and citizens of Paris, Texas. Lessee's plan for FBO office in terminal waiting room as depicted on Exhibit is approved; however, the requirements of paragraph_E _-Fereunder must be met. All plans and specifications for the construction of buildings and improvements and other facilities contem- plated hereunder shall be prepared by lessee as hereinafter set out and shall require the written approval of lessor before any construction or installation may be undertaken. F. Recovery of Capital Expenditure. As a part of the consideration hereof, lessor agrees lessee shall have the right to recover his capital expenditure for newly con- structed buildings by use thereof during; the depreciated life of the same as mutually agreed to by lessor and lessee. G. Minimum Improvement Standard. As part of the consideration hereof, lessee further covenants and agrees that all improvements hereunder shell be constructed in accordance with plans and specifications approved by the City Engineer and shall be subject to his inspection. H. Submission of Plans. Lessee .shall submit to lessor final plans and specifications for the construction of the improvements and facilities contemplated hereunder. All plans, specifications and work shall be subject to the approval of the City Engineer and must conform to all local, - 5 -