MOREMEN, Justice.
On December 18, 1942, by an instrument styled Extension of Lease, James B. Anderson, individually and as agent for Joseph C. Anderson, Mary J. Anderson, and Alice S. Anderson, who herein will be called Lessors, leased to appellant, The Lexington Flying Service, a corporation, property known as Lexington Municipal Airport, for a term of one year. The terms of the lease gave to appellants:
(1) The right to renew the lease from year to year...
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