ORDER N0. 15601
APPROVAL OF ASSURANCES FOR CERTAIN MOONEY LEASE AGREEMENTS
On this the 13th day of August 1984, upon motion made by
Commissioner H].QQ1nS seconded by Commissioner Holland
the Court unanimously approved Assurances-for Certain Mooney
Lease Agreements, as requested by the Bank, Security Pacific
National, and as recommended by the Kerrville-Kerr County
Joint Airport Board, subject to concurrence by the City of
Kerrville.
It is ordered by the Court that the County Judge be authorized
to execute said Assurances on behalf of Kerr County.
M E M O
TO: Glenn D. Brown, Assistant City Manager
• ~/JUdge Gordon S. Morriss, County Commis. Court
FROM: Calvin L. Neely, Airport Manager
DATE: August 9, 1984
SUBJECT: ASSURANCES FOR CERTAIN MOONEY LEASE AGREEMENTS
At the Special Called Meeting of the Kerrville~Kerr County
Joint Airport Advisory Board of August 8, 1984, approval
was given for the Chairman of the Board to sign the attached
Assurance for Certain.M~onpy Aircraft Leases, so the bank,
Security Pacific National, would approve the loan for. the
prospective huyPr of. Mooney Aircraft.
It is the consensus of the Board that Mooney Aircraft, Inc.
is a valuable asset to the Community and should be supported
in this effort. The Airport Board is recommending this
Assurance be approved by City Council and County Commissioners.
is
v
August , 1984
Security Pacific National
333 South Hope Street
Los Angeles, California 90071
Gentlemen:
	The City of Kerrville, Texas, the County of Kerr, Texas, and the
	Kerrville-	Kerr County Joint	Airport	Board (collectively herein-
	after the	"Lessor") hereby	jointly	and severally certify that
	Lessor is	the lessor under	(i) that	certain Lease, dated January
	10, 1963,	by and between	Lessor	and Mooney Aircraft, Inc.
	("Mooney,	Inc.")		that * ~nmeat~of.
				
				
amended by that certain Amendment of Lease, dated August 27,
1973, by and between Kerrville-Kerr County Joint Airport Board
(acting for and on behalf of Lessor) and BAACT Corporation /
(previously Mooney Aircraft Corporation), t ~j~
c , ber---1 , , -SA~YCT ' \
Co-r-parat' er, and (ii) that certain City-County Mooney
Airport Lease-1982, dated April 29, 1982, by and between Lessor
and Borrower (collectively hereafter the "Leases"). r
lessot~recites and agrees to the following Eor the benefit of Security
Pacific National Bank (the "Lender") t
,Lender--is--rei-1*ing en-~.11C =cr2-Yowinq ree#tals in--ma-Y}ng-eeriYrsn
amounts n l~a~s-
" srnrs--ef what-x~
1. The copies of the Leases attached hereto as
Exhibit A are true and correct, have not been
modified, amended, or changed and are in full
force and effect as of the date hereof.
2. Borrower is not in default under the terms of
either of the Leases and no condition exists
which, with notice and/or the passage of time,
would become an event of default under either of
the Leases.
3. All rent and other charges due under the Leases
have been paid as of the date hereof.
r
Letter to Security Pacific National
Page 2
4. Lessor consents to Borrower's mortgage of the
leasehold estates to Lender pursuant to the terms
of the Credit Agreement, the notes, the deed of
trust, and other security agreements between
Lender and Borrower evidencing such mortgage.
EXECUTED on August _~', 1984.

CITY OF KERRVILLE
By:
Its:
COUNTY OF KERR
By:
Its:
ORDER N0. I5601
APPROVAL OF ASSURANCES FOR CERTAIN
MOONEY LEASE AGREEP4ENTS
8-13-1984
Volo P, Page 518