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<br /> 94 <br /> RESOLUTION 1993- 22 R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br /> OF SAN MARCOS, TEXAS, APPROVING THE TERMS OF A <br /> PROPOSED LANDLORD'S LIMITED SUBORDINATION <br /> AGREEMENT EXECUTED BY THE CITY SUBORDINATING <br /> THE CITY'S LIEN TO CATTLEMEN'S STATE BANK IN <br /> REFERENCE TO ITS LOAN TO AIRPORT TENANT, BERRY <br /> AVIATION, INC., AUTHORIZING THE CITY MANAGER <br /> TO EXECUTE THE AGREEMENT; AND DECLARING AN <br /> EFFECTIVE DATE. <br />WHEREAS, Berry Aviation, Inc., an airport tenant desires to <br />borrow money from Cattlemen's State Bank, to invest in developing <br />business at the San Marcos Municipal Airport; and, <br />WHEREAS, Cattlemen's wants a limited subordination of the <br />city's Landlord's Lien in order to execute said loan; now, <br />therefore, <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: ~ <br />PART 1. That the terms of this proposed Landlord's Limited <br />Subordination Agreement a copy of. which is attached hereto and <br />incorporated herein for all purposes, are hereby approved. <br />PART 2. That the city Manager, Larry D. Gilley, is hereby <br />authorized to execute said Subordination Agreement on behalf of <br />the City. <br />PART 3. That this Resolution shall be in full force and <br />effect from and after its passage. I <br />ADOPTED this 8th day of FebT~:~A. ~ <br /> Mayor <br />Attest: <br />Çf þ~) ~ V£ 't ~kJ) <br />.Ja. lS K. Womack <br />City Secretary <br />