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<br />lease!
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<br />NOW, THEREFORE, the City does, by these presents,
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<br />and demise unto the said Lessees that portion of said airport ly-:
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<br />ing West of the tower and bounded on the South by Spencer Highway;
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<br />on the North by a runway and on the East by the road into said I
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<br />airport; such strip may be used by Lessees for hangars, shops, I
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<br />I c1a.. room., living quarter. for r..ident .tud.nt. and 1n.tructor~.
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<br />office building, parking space for automobiles and parking or
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<br />tie-down space for aircraft not stored in hangars.
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<br />This lease isl
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<br />for a period of ten (10) years from the date hereof and with the
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<br />Ii options for renewal as hereinafter provided, upon the following
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<br />terms, agreements and covenants, to-wit:
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<br />a. This lease is made subject to all of the terms and
<br />conditions contained in the said WAA license to
<br />said City.
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<br />b. Lessees shall maintain the airport to conform to
<br />the Civil Aeronautics Administration, hereafter
<br />called nC. A. A.", specifications and to keep said
<br />airport on the C. A. A. approved list.
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<br />c. Lessees shall have the right to maintain on said
<br />field and within the limits above described, a
<br />C. A. A. certified training school, and to carryon
<br />commercial air activities such as a charter plane
<br />service for both cargo and passengers, sightseeing
<br />tours, repair and maintenance shops for aircraft,
<br />sale of aircraft, storage of aircraft, and the like;
<br />and, for carrying on these activities, it is under- I
<br />stood and agreed that lessees shall have a right to I
<br />all necessary use of all landing strips for the
<br />take-off and landing of aircraft.
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<br />d.
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<br />Lessees shall immediately construct an all-steel
<br />and aluminum hangar or' approved design with welded
<br />frame imbedded in concrete floor, sufficient in
<br />size to house six planes of the type used in the
<br />training school; and, lessees may provide adequate I
<br />space and offices, class rooms, shops, and rest II
<br />rooms in lean-tos constructed adjacent to the I
<br />hangar. Lessees may increase the size of this
<br />hangar or erect additional hangars. The cost of
<br />such original hangar to be approximately the sum of I
<br />Twenty Thousand Dollars ($20,000.00). I
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<br />Lessees shall construct a water well with storage
<br />facilities ,in pressure tank and shall renovate the
<br />present structure by addition of asbestos siding on
<br />the outside, repair the roof and doors, install the
<br />eleotric lights, refinish the interior with suitable.
<br />materials in order to make it comfortable aDd i
<br />practicable for daily use, replaCing all broken 1;
<br />windows. The repairs to such present structure are
<br />estimated at approximately the sum of Seventy-Five I
<br />Hundred Dollars, ($7,500.00).
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