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<br />til'e No~thwall; . the: entire building to' be constructed of structural
<br />steel' with twtnty-slx (26) guag~ corrugated galvanized sheeting on
<br />roof. an4 siding and:baving a floor of five (5) inch re-inforced con-
<br />crete with a,'five (5) inch r~-info,ced concrete ramp at each end
<br />th ereo,f. and, ,
<br />, WHEREASJHou-port Av~ation. Inc.. the present Lessee under
<br />leasel ~asrequeste~ th~ City of La Porte to grant an option to
<br />tbe:ter. of s~id le'se from the 9tb day of February. A. D. 1977
<br />two (2)'addltjonal ~eriods of ten (lO) years each:
<br />NOl, THEREFORE~ KNOI ALL MEN BY THESE PRESENTS: That the City
<br />of ' La ,Porte. :in 'consideration of t~e premises and payment of the sum
<br />of ,One Doll~r ($1.0P>, by thes~ presents, does give and grant to Hou-
<br />Port Aviatio'n, Inc.!~ Lessee. the option_ to renew the existing lease
<br />for: an additional &'erm of ten (0)' years from and afterthe 9th day of
<br />February" A.- D. -1977. upon terms not more than ten per cent. 00%)
<br />less fa~orableto the Les1ee tbart 'the immediately preceding five (5)
<br />year period; Le~see shall also have the option to renew said lease
<br />for a s,econd ,tell (10) yea,r period upon terms not more than ten per
<br />cent, (ilO%} less fa,vorable to the J.essee tban the prior term; Lessee
<br />shall e:xerc:ise slIch option by giving the City a written notice of its
<br />intenti-on to:'renew'not less than sixty (60) days prior to the expira-
<br />tion of the existing lease or renewal thereof.
<br />, The rights and options herein granted to Lessee by the City are
<br />granted only'upon conditinn that Lessee ~hall, within one (I) year
<br />fp9m the date hereOf, tomplete t~e construction of a new airplane
<br />hangar ,two hundred,(200) feet long and one hundred ten (110) feet
<br />cl~ar span w1tb,thirty -(30) feet of bead room. with a lean-to twenty
<br />(20) f~et de~p witi eight (8) feet of head room along the entire North
<br />waJl; $uch entire ~uildifig to be constructed of structural steel with
<br />twenty'";"six (:26) guage corrugated galvanized sheeting on roof and sid-
<br />ingJ with a~Uoor oJ five (5) inch _re-inforced concrete and with a
<br />five (5) inch re-infor~ed-concrete ramp at each end thereofj such
<br />new hangar to be located between Spenc~r Highway and the large exist-
<br />ing hangari ;in ,acc,ordancc with the plan submitted by Lessee to the
<br />City. ; In the event Lessee ,fcHIS to complete the construction of such
<br />new airplan~ hangar witbin one (1) year from the date hereof tben all
<br />ot the' ~igb~s -andoption~ ~erein granted shall be rescinded and this
<br />ag:teemjentshall th:ereupon be of no fu,rther force and, effect.
<br />, Tbe options h~rein granted are alJo conditioned upon the compli-
<br />ance by Le$see with all of the terms. agreements and conditions con-
<br />tained in ,said original lease and amendments thereto. Nothing herein
<br />shall be tonstrued"to affect the right of the City to require terms
<br />ndt m.re than tenJer cent. (10%) less favorable to Lessee than the
<br />prior term tor each renewal period after the primary term of the ori-
<br />ginal }ease.; ", - A 7,,1;
<br />" Executed in d-uplicat-eoriginals this the Ql day of Marcht
<br />A ~ D. 1956.; , , ' _', '
<br />, ' , ,,' ' CITY OF L EXAS., Lessor
<br />~-:--- " # ?J., ,By.r . ...;-,
<br />(~/..:?-4:<~/~ ~\..~ ' Mayor
<br />CIty ~lelkrClty Qf La Porte. Texas
<br />HOU-PORT AVIATION. INC. Lessee
<br />By
<br />
<br />said
<br />extend
<br />for
<br />
<br />ATT ESt:
<br />
<br />President
<br />
<br />~:etre~ary ~ -U oU,-Po;:rt Av iat10n J I nc. tf",
<br />
<br />.[
<br />'ass.d and a~proved this the
<br />
<br />day of Marchi A. D. 1956.
<br />
<br />
<br />[;:<1: :h~;.i~or;e. T ex.s
<br />
<br />AT,~,~/,~.~ '
<br />
<br />the City of La Porte. Texas
<br />
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