TERMS & CONDITIONS  By this Agreement, made and entered into this day between Tenant, as named Aircraft Owner above, which expression shall include its heirs, successors, and assigns where the context so admits and P.G. Airpark Associates Limited Partnership, P.G. Aircorp, Inc., is the present and sole general partner, Landlord, which expression shall include its heirs successors, and assigns where the context so admits, Landlord and Tenant agrees as follows:

Tenant hereby authorizes their credit company, as selected above or amended subsequently, to make payment directly to Landlord. Tenant understands and acknowledges that they are in full control of payment and that at any time may discontinue automatic payment at any time by calling or writing Landlord. Should Tenant make such notice the terms and conditions of this agreement shall otherwise remain in full force and effect.

Landlord is hereby authorized to obtain such information as it may require concerning the information contained herein and the undersigned’s credit standing.

1. SPACE DEFINED Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, (tie-down/hangar) space, located on a plan of POTOMAC AIRFIELD and listed, or as assigned, (hereinafter called "the space") for the remainder of the current calendar day month and continuing on a calendar month basis thereafter until terminated as hereinafter provided or upon written notice given by one party to the other delivered at least thirty (30) days prior to the end of the calendar month in which such termination is to take effect. It is understood and agreed that this is a lease of space only and not an entrusting or bailment of the aircraft to Landlord.

2. RENT Tenant shall pay to Landlord a monthly rent as stated above, payable in advance on the first day of each calendar month during the continuance hereof. If this Agreement commences on the day other than the first day of a calendar month, the first payment shall be due on such commencement date and shall be prorated for the number of days in the calendar month for which rent is payable.

3. USE OF SPACE Tenant shall have the right and privilege to use the space, together with the necessary rights of ingress thereto and egress therefore, for the sole purposes of tying down or hangaring the aircraft described above. The space may not be used for any other purpose. Tenant agrees that Tenant will not conduct or carry on any type of business to and from the Airport such as, but not limited to, chartering, vending, ambulance service, and training without written consent of Landlord. Tenant agrees not to conduct other than minor maintenance on his own aircraft that requires the use of tools and/or support equipment in other than the designated area for this type of work.

4. UTILITIES The Tenant shall provide and shall pay for all of its own utilities including, but not limited to, heating, gas, air-conditioning, steam, water, electricity, sewer charges and the like.

5. COMPLY WITH LAWS, RULES & REGULATIONS Tenant agrees to comply with the laws of the United States, the Federal Aviation Administration, the State of Maryland and all local ordinances, resolutions, Rules and Regulations adopted by either Landlord, the FAA or the State of Maryland for the operation of the Airport and conduct on or around the Airport, as published, posted or conveyed in writing from time to time. Tenant agrees to timely make any report required by any governmental body or regulatory agency having jurisdiction of said Airport, said report to be made to the proper agency or governmental body with a copy to Landlord.

6. SUBLETTING Tenant agrees that it will not sublet, assign or transfer its interest in or rights under this Agreement.

7. LANDLORD SAVED HARMLESS Tenant agrees to defend, indemnify and save harmless Landlord from any and all claims, causes of action, losses or costs, except for those arising solely from the willful misconduct of Landlord, its officers or employees, relating to or arising out of death, personal injury, sickness, or loss, damage or theft of property which may occur as a result of or with respect to Tenant’s tie-down, hangaring, operation, or use of the Aircraft.

8. TENANT’S INSURANCE During the terms hereof Tenant shall maintain in full force and effect, at Tenant’s expense, a minimum of One Million ($1,000,000.00) dollars aggregate or combined single limit aircraft liability insurance, including passenger liability, against claims for bodily injury, death or property damage arising out of the existence or operation of the Aircraft owned or used by or on behalf of Tenant naming Landlord as ’Additional Named Insured". A certificate of such insurance shall be furnished to Landlord prior to use, upon demand. Such insurance shall provide that it will not be canceled without thirty (30) days prior written notice to Landlord.

9. TENANT WAIVES CLAIMS Tenant hereby waives all claims against Landlord and will hold Landlord harmless for and on account of any damages to goods, wares and merchandise, equipment and supplies of any person or company from any cause arising at any time during the term of this lease out of Tenant’s use of the space, except when caused by Landlord’s willful misconduct. Landlord shall not be liable to Tenant for any damage by or from any act or negligence of any co-licensee, transient or other occupant of the space or by any owner or occupant of adjoining or contiguous property.
10. HOLDOVER If, after the termination of this Agreement, Tenant shall remain in possession without any express written agreement as to such holding over, Tenant shall be deemed to be a tenant from day to day at a daily rental as established by Landlord, and all other provisions of this Agreement shall continue to be operative.

11. WAIVER No waiver of default by Landlord of any of the terms, covenants and conditions herein to be performed, kept and observed by Tenant shall be construed as or operate as a waiver by Landlord of any subsequent default of any of the terms, covenants and conditions contained herein to be performed, kept and observed by Tenant.

12. NOTICE Any notice from the Landlord, its agent. or attorney, to the Tenant relating to the space or to the occupancy thereof, shall be deemed duly served, it mailed to its latest address of record, registered or certified mail, return receipt requested, postage prepaid, addressed to the Tenant. Any notice from the Tenant to the Landlord relating to the space or to the occupancy thereof, shall be deemed duly served, if mailed to the Landlord by registered or certified mail, return receipt requested, postage prepaid, addressed to the Landlord at such address as the Landlord may from time to time advise in writing. All rent and notices shall be paid and sent to the Landlord at 10 Newbury St., Boston, Mass. 02116.

13. DEFAULT In the event of Tenant’s default in the payment of rent or in the performance of his obligations hereunder, Landlord, at its sole option, may terminate this Agreement and all of Tenant’s rights hereunder, and say then at any time thereafter bring an action for possession of the space without prejudice to any other remedy or right of action which Landlord may have for arrears of rent or for damages sustained by reason of said default. Landlord is hereby granted an express lien upon and security interest in any aircraft of Tenant to secure payment of all sums due to Landlord by Tenant.

14. FIRE INSURANCE The Tenant shall not permit any use of the space which would jeopardize the Landlord’s insurance coverage or create an additional risk on the property of which the space are a part, or on the contents of said property, or which shall be contrary to any law or regulation from time to time established by any state, municipal, government, or insurance industry rule making authority. Further the Tenant, at its expense, shall take all measures necessary to comply with the Landlord’s insurance carrier. The Tenant shall on demand reimburse the Landlord, and all other tenants, for any increase in insurance premiums caused by the Tenant’s use of the space.

15. LANDLORD’S ACCESS The Landlord or agents of the Landlord may, at reasonable times, enter to view the space and may remove placards and signs not approved and affixed as herein provided, and make repairs and alterations as Landlord should elect to do and may show the space to others, and at any time within one (1) months before the expiration of the term, may affix to any suitable part of the space a notice for letting or selling the space or property of which the space are a part and keep the same so affixed without hindrance or molestation.

16. FIRE, CASUALTY, EMINENT DOMAIN, DECERTIFICATION Should a substantial portion of the space, or of the building of which they are a part, be substantially damaged by fire or other casualty, or be taken by eminent domain, or the airport is decertified, the Landlord may elect to terminate this lease. When such fire, casualty, taking, or decertifying of airport renders the space substantially unsuitable for Tenant’s intended use, a just and proportionate abatement of rent shall be made. The Landlord reserves, and the Tenant grants to the Landlord, all rights which the Tenant may have for damages or injury to the space for any taking by eminent domain, or for de-certification of the airport except for damage to the Tenant’s fixtures, property, or equipment.

17. SURRENDER The Tenant shall at the expiration or other termination of this lease remove all Tenant’s goods and effects from the space, (including, without hereby limiting the generality of the foregoing, all signs and lettering affixed or painted by the Tenant, either inside or out- side the space). Tenant shall deliver to the Landlord the space and all keys, locks thereto, and other fixtures connected therewith and all alterations and additions made to or upon the space, in the same condition as they were put in during the term hereof, reasonable wear and tear and damage by fire or other casualty only excepted. In the event of the Tenant’s failure to remove any of the Tenant’s property from the space, Landlord is hereby authorized, without liability to Tenant for loss or damage thereto, and at the sole risk of Tenant, to remove and store any of the property at Tenant’s expense, or to retain same under Landlord’s control or to sell at public or private sale, without notice any or all of the property not so removed and to apply the net proceeds of such sale to the payment of any sum due hereunder, or to destroy such property.

18. RUBBISH REMOVAL Tenant shall be responsible for the collection, storage, and removal of Tenant’s trash. In connection herewith, Tenant shall hold harmless the Landlord and indemnify Landlord from any penalties in the nature of fines etc. issued by the Prince Georges County resulting from the improper handling of Tenant’s trash removal