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Res 2018-060/approving the terms and conditions of two subordination agreements between the City of San Marcos, Compass Bank and Berry Aviation, Inc. to secure Compass Bank's lien as superior in regards to aircraft and aircraft components purchased with
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Res 2018-060/approving the terms and conditions of two subordination agreements between the City of San Marcos, Compass Bank and Berry Aviation, Inc. to secure Compass Bank's lien as superior in regards to aircraft and aircraft components purchased with
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6/25/2018 2:05:55 PM
Creation date
5/7/2018 2:43:02 PM
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Resolutions
City Clerk - Type
Agreement
Number
2018-60
Date
4/17/2017
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subordinate or inferior as to any other property subject to said landlord's lien pursuant the Lease <br />or under applicable Texas law. <br />2. Lessor further consents to the location of the Aircraft Collateral on the Leased <br />Premises, and hereby authorizes and empowers Lender, its agents, attorneys, employees, <br />successors and assigns, subject to compliance with applicable law, to enter the Leased Premises <br />and remove the Aircraft Collateral under the provisions of the Aircraft Mortgages and Credit <br />Documents. <br />3. This Agreement shall bind and benefit the parties hereto and their respective <br />successors and assigns. This Agreement embodies the entire agreement and understanding of <br />Lessor, Lessee and Lender relating to the subject matter hereof and supersedes all prior <br />proposals, negotiations, agreements and understandings related to such subject matter. <br />4. This Agreement may not be discharged or modified orally or in any manner other <br />than by an agreement in writing specifically referring to this Agreement and signed by the party <br />or parties to be charged thereby. <br />5. This Agreement shall be governed by and construed in accordance with the laws <br />of the State of Texas and the United States of America. This Agreement may be executed in one <br />or more counterparts which shall be construed together as one document. Any party who <br />executes a counterpart of this Agreement shall be fully liable hereunder, whether or not any other <br />party named herein executes that counterpart or any other counterpart of this Agreement, and the <br />obligations of any party hereunder may be proved by production of the counterpart of this <br />Agreement executed by such party without the production of any other counterparts of this <br />Agreement. <br />IN TESTIMONY WHEREOF, this instrument is executed, effective as of the date stated <br />above. <br />LESSOR: LENDER: <br />CITY OF SAN MARCOS, TEXAS COMPASS BANK <br />r' <br />,f <br />By: By:,, <br />Name:_ ,nY� Name �. ( C <br />Title: Title: <br />LESSEE: <br />BERRY AVIATION, INC., <br />a Texas corporation <br />By: <br />u <br />2 <br />011131.000054\4$39-2402-3131.v1 <br />
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