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20 STATE OF TEXAS ASSIGNMENTS OF LEASES COUNTY OF HAYS WHEREAS leases dated September 9, 1980 and January 10, 1984, by and between the City of San Marcos as Lessor and GT+3 Flight Operations, Inc. as Lessee were entered into concerning -the property located at San Marcos Municipal Airport, Caldwell County, Texas and said September 9 1980 lease was subsequently amended on September 9, 1985 and October , r: J.:J, 1935 and said January 10, 1984 lease was subsequently amended on June II, 1985 and October l5 1985 (all of \.¡hich an':! hereinafter referred to as the "Leases"); and, WHEREAS, Bet Thornton, also hereinafter referred to as Assignor, (lesires to sell and convey her interest in the leaseholds including the above referenced Leases, as amended, to the following Party: Trans-Air Industries, Inc. a Texas corporation, Bob J. Valdepena President, hereinafter referred to as Assignee; NOW, THEREFORE, in contemplation 0:: said transfer for good and valuable consideration, ~ssignor hereby assigns, transfers and delivers all of her right, title or interest in and to the above described pn~onises and Leases, as amended, to Assignee. It is hereby agreed and understood by and among the Parties hereto that: 1. Assignee agrees to accept said Leases, as amended, pay all rents and punctually perform all of Assignor's obligations under said Leases, as amended, accruing on and aft~~r !:11e date of delivery of possession to the Assignee as contained herein. Assignee further agrees to indemnify and save harmless the Assignor from any breach of Assignee's obligations hereunder. 2. Assignor shall deliver possession of leased premises to Assignee at the time of payment by Assignee to Assignor of that amount previously agre{-~(1 11pon between the two parties time being of the essenc~~ . All rents and other charges accrued under the Leases prio¡:- to said date shall be fully paid by Assignor, and thereafter by the Assignee. -1-