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After recording,return to:
<br /> Husch Blackwell LLP
<br /> 111 Congress Ave.,Suite 1400
<br /> Austin,Texas 78701
<br /> Attn:Racy Haddad
<br /> Space Reserved for Recording Information
<br /> MEMORANDUM
<br /> OF
<br /> AIRPORT FACILITY LEASE AGREEMENT FOR COMMERCIAL USE
<br /> This MEMORANDUM OF AIRPORT FACILITY LEASE AGREEMENT FOR COMMERCIAL
<br /> USE (this "Memorandum"), dated as of May _, 2024, is by and between the City of San Marcos, a
<br /> municipal corporation of the State of Texas("Lessner"or"City"},and Redbird Flight Simulations,Inc_,a
<br /> Texas corporation("Lessee").
<br /> Lessor and Lessee hereby acknowledge the following:
<br /> 1. Name anal Address of Lessor. The name of Lessor is the City of San Marcos,a municipal
<br /> corporation of the State of Texas, and its address is 630 East Hopkins Street, San Marcos, Texas 78666,
<br /> and 4400 flighway 21, San Marcos,Texas 78666.
<br /> 2. Name and Address of Lessee. The name of Lessee is Redbird Flight Simulations,Inc., a
<br /> Texas corporation,and its address is 301. Vista Ridge Drive,Kyle, Texas 78640.
<br /> 3. Lease_Lessor and Lessee have entered into a certain Airport Facility Lease Agreement for
<br /> Commercial Use, dated May , 2024 (the "Lease"), whereby Lessor leases to Lessee that certain real
<br /> property consisting of approximately 900 square feet,with a street address of 1827 Airport Drive,located
<br /> at the airport in the City of San Marcos, County of Caldwell, State of Texas, and which is described in
<br /> Exhibit"A"attached hereto(the"Leased Premises").
<br /> 4. Term.The initial terra of the Lease commenced on April 27,2024,and expires on May 2,
<br /> 2041 (the"Term").
<br /> 5. Termination of Prior Lease.Pursuant to Section 18.22 of the Lease,that certain San Marcos
<br /> Municipal Airport Ground Lease of Unimproved Airport Property for Construction and Operation of
<br /> Business Facilities (the "Prior Lease") with a Commencement Date of May 3, 2011, by and between
<br /> Lessor, as Lessor, and Redbird flight Simulations, Inc., a Texas corporation("Redbird"), as Lessee, as
<br /> evidenced by that certain Memorandum of Lease recorded in Document No_ 118728 of the Official Public
<br /> Records of Caldwell County, Texas,is terminated as to Tract 2--Restaurant Site(as defined in the Prior
<br /> Lease),and the parties shall have no further rights or obligations thereunder.
<br /> 6. Notices. Notices shall be given to the parties to the Lease in writing by hand delivery,
<br /> registered mail, overnight delivery,or electronically to the following addresses: if addressed to Lessor,to
<br /> 630 East Hopkins Street,San Marcos,Texas 78666,and 4400 Highway 21, San Marcos,Texas 78666 and
<br /> if addressed to Lessee,to 301 Vista Ridge Drive,Kyle,Texas 78640,with copy to Racy Haddad,Lessee's
<br /> Counsel,at I I I Congress Avenue, Suite 1400,Austin,Texas 78701_
<br /> ........................................___._.
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