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aL > thy c : et ath fe Pe Le Ie tes Pag 4 WE 87-16994 29 SMITH wes enawere of the relatioaship of Span Air, Inc., with Air Cargo Express. A Provision to the Lease dated July 15, 1976, and identified as Rider Bo. 1, was furnished by BANS ACHTMANK to VERNON PRESLEY and related, in part, to the release of funds from ¥V.V.P. The second paragraph is as follows: “The Balance ef the payment between American Mational Bank asd the eapitalized cost of Rise Hundred Fifty Thousand Dollars ($950,000.00) shall be paid to Elvis A. Presley, who vill distribute mach fends for the purpose of ep-dating anid Aircraft to comply witb F.A.R. 1231 specifications aad 121 Maintenance Program." Altbough this rider was initialed by ACHTMANN, it was contrary to the original lease agreement which would put the burden on Air Cargo Express aad World Aircraft Exchange, Insc. SMITH questioned the purpose for ACETMANN doing this becaupe it appeared that ACHTMANN felt he was being put in the middle between PRESLEY and PRO. if PRO or his associates were doing something irregular with regard to the repairs to the plane, and eof repairs to ¥.U.P. caused payments to be made to World Aircraft in errer, NX would be responsible to a degree. SMITH also had in his possession a copy ef “Minctes of a Special Meeting ef the Board of Directors of Air Cargo Express, Insc.” This is dated June 30, 1976, and identified the directors as being FRED PRO, President, and ROT GHITH acting as secretary. According to the minutes, a discussion was beld as to who should be eathoriszed to sign and execute destruments of purchase ef the aircraft in bebalf ef the corporation. A resciation was made Gad passed that FREDERICK P. PRO, President, be authorized to sign and execute lease aad eub-lease of the aireraft from ELVIS A. PRESLEY. These minutes are signed FREDERICK P. PRO, Chairman; BOY BE. SHITE, 21 \yy \ en | ore