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RESOLUTION NO. 2018-60R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS APPROVING THE TERMS AND <br />CONDITIONS OF TWO SUBORDINATION AGREEMENTS <br />BETWEEN THE CITY OF SAN MARCOS, COMPASS BANK AND <br />BERRY AVIATION, INC. TO SECURE COMPASS BANK'S LIEN <br />AS SUPERIOR IN REGARDS TO AIRCRAFT AND AIRCRAFT <br />COMPONENTS PURCHASED WITH LOAN PROCEEDS AND <br />LOCATED IN TWO SEPARATE HANGARS AT THE SAN <br />MARCOS REGIONAL AIRPORT; AUTHORIZING THE CITY <br />MANAGER TO EXECUTE THE SUBORDINATION <br />AGREEMENTS; AND DECLARING AN EFFECTIVE DATE. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS: <br />PART 1. The attached two Subordination Agreements between the City of San <br />Marcos, Compass Bank and Berry Aviation, Inc. are hereby approved. <br />PART 2. The City Manager is authorized to sign the Subordination Agreements <br />on behalf of the City. <br />PART 3. This resolution shall be in full force and effect from and after its <br />passage. <br />ADOPTED on April 17, 2018. <br />Jo homaides <br />Mayor <br />Attest: <br />Jamie L e Case <br />erk <br />