COLLATERAL ASSIGNMENT OF FRANCHISECollateral Assignment of Franchise • July 17th, 2017
WHEREAS, Landlord and Borrower have heretofore entered into that certain Franchise Agreement (Ordinance No: O-2003-03) with effective date of October 1, 2002 (the “Franchise”). Pursuant to the Franchise, Landlord has leased to Borrower and the Borrower (as Lessee) has agreed to rent from Landlord that certain ground described in the Franchise as Parcel 5, Lot 1, on the East side of the Manassas Regional Airport, City of Manassas, Virginia, containing approximately 81,300 square feet or 1.86639 acres (as may be heretofore or hereafter improved, the ground and all improvements and buildings now existing or later constructed thereon being herein the “Premises”, comprising a portion of the Manassas Regional Airport, located in the City of Manassas, Virginia, as the same is more particularly described by metes and bounds in Exhibit “A” attached hereto and made a part hereof by this reference. A Memorandum of Lease for the Franchise is recorded among the land records of the Clerk of the Cour
