Res 2014-052/Assignment of lease from Scott Trull to Redbird Flight Simulations, Inc.

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Specifically, the LEASED PREMISES shall be used and occupied for the business of aviation related activities and business including but not limited to: aircraft and aircraft parts storage, internal aircraft maintenance and other ancillary uses. The LEASED PREMISES may be used for no other purposes without the advance written consent of the LESSOR. The LESSEE shall use the LEASED PREMISES in good faith continuously for this purpose throughout the term of this LEASE. The LESSEE will use good faith efforts to ensure that the LEASED PREMISES are occupied throughout the term of this LEASE. 1.4 Article 5, Construction of Hangar; Alterations and Fixtures, is hereby AMENDED by adding Section 5.06 as follows: "Section 5.06. Improvements to the Existing Structure. Redbird AGREES that during the balance of the term of the Lease, as extended herein, it will spend approximately $10,000.00 (but not less than $8,500.00) for IMPROVEMENTS to the structure located on the Leased Premises, including electrical improvements and epoxy sealing for the hangar floor. Redbird agrees that it will provide a scope of work, schedule, any plans and cost estimates (including any supporting documentation if requested by the Lessor) to the Lessor for review and approval prior to the commencement of any work. After approval of the Plans, Redbird may perform the work in accordance with the Approved Plans. The work shall be performed in accordance with all applicable laws, codes and ordinances. Redbird agrees to diligently and continuously pursue the work to completion and shall fully complete the work within two years of the Effective Date of this Agreement. A failure to complete the IMPROVEMENTS will constitute a default by the LESSEE, and will authorize the LESSOR to pursue all remedies available to it as described in Article 11 of the LEASE as amended, following the notice and cure period. 1.5 Article 6, Utilities /Taxes is hereby AMENDED by deleting section 6.03 and adding the following new sections 6.03 and 6.04: 6.03 In entering into this LEASE, LESSEE understands that it will be solely responsible for the payment of ad valorem taxes, if any, that are assessed against all or any portion of the LEASED PREMISES, the FACILITIES, equipment, inventory, personal property, including but not limited to aircraft used for commercial purposes, or the upon the leasehold interest in the LEASED PREMISES. LESSEE agrees to pay all such taxes and assessments when due. 6.04 The LESSEE shall also pay when due all sales, excise, income and other taxes levied upon its business operations on the LEASED PREMISES. 3