Res 2002-184 - Laserfiche WebLink

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MAIL ANY NOTICE OF DEFAULT TO: U.S. SMALL BUSINESS ADMINISTRATION 2 I 20 Riverfront Drive, Suite 100 Little Rock, Arkansas, 72202 HEN RECORDED MAIL TO: U.S. SMALL BUSINESS ADMIl\ISTRA TION 4400 Amon Carter Boulevard, Suite 102 Fort Worth, Texas 76155-2608 (817)885-7600 Berry Aviation, Inc. # 9TTX-00340 Loan No. EIDL 55511040-00 SPACE ABOVE THIS LINE FOR RECORDER'S USE ASSIGNMENT OF REAL ESTATE LEASE AND AGREEMENT This assignment of lease and agreement made and entered into by and between Berry Aviation. Inc. (Lessee) (hereinafter called "Borrower"); and City of San Marcos (hereinafter called "Lessor"); and the SMALL BUSINESS ADMINISTRATION (hereinafter called "Assignee"): Witnesseth: Jui~ /WHEREAS, Borrower has heretofore leased from Lessor certain real property by lease dated December 1, 1992 , and recorded on 5. 200 2 and filed of record in Book 308 at Page(s) 28- 5 4 , Instrument No. 0241 90 ,of the Official Records ,f Caldwell County, Texas, for a term of 20 yea r s, and described as follows: Described in Exhibit "A" attached hereto and made a part hereof. AND, Whereas, Assignee has authorized the making of a loan to Borrower in the amount of $1,500.000.00 due and payable on or before August 7, 2032. AND, Whereas, such loan is for the benefit of both Borrower and Lessor, in that loan funds are to be used for the benefit of the Business conducted on the leased premises: 1807 Airport Drive, San Marcos, Texas 78666 NOW, Therefore, for and in consideration of the premises and of disbursement of said loan or any part thereof, Borrower, with the consent of Lessor, hereby assigns, transfers, and conveys unto Assignee the lease above described, to have and to hold the same for and during the remainder of the term mentioned in the lease and all renewals and extensions of said term. A. Borrower and Lessor further Covenant and Agree: 1. Borrower is not now in default in the performance of the lease; and Borrower and Lessor will each perform the covenants and conditions required of him by said lease for the term of said loan and any extensions, substitutions, or renewals of it; 2. Except as otherwise herein permitted, Borrower and Lessor will not, alone or by agreement between them, modify or terminate said lease without consent of Assignee; 3. In the event of default by Borrower under the terms of the lease, Lessor shall have the right to terminate said lease in accordance with its terms, provided however, Lessor shall first give Assignee 60 days written notice of such default and the right, at the option of Assignee, during such period, to cure such default; and during such period, Lessor will take no action to enforce its claim arising from such default without Assignee's consent. e:n'l:1 IP Page 1