EFTA01080421.pdf

VIRGIN ISLANDS PORT AUTHORITY Post Office Box 301707 ST. THOMAS, VIRGIN ISLANDS U.S.A. 00803-1707 TEL: August 24, 2011 Maria Hodge, Esq. Hodge and Francois Re: Your Client - Thomas World Air, LLC Dear Atty. Hodge: The Virgin Islands Port Authority Governing Board, at its meeting on Wednesday, July 20, 2011, approved your client, Thomas World Air, LLC's (TWA) request to lease the middle bay of the General Aviation Hangar at the Cyril E. King Airport, St. Thomas, VI, consisting of 3,600 square feet. A lease for five years, along with an option term for three years was approved. The initial annual rental rate shall be $12.00 per square foot. Increases in rent shall occur every three years. Please note that the hangar space is currently under lease to another entity and is expected to be available after September 1, 2011. In addition, the Virgin Islands Port Authority Governing Board, at its meeting on Wednesday, August 17, 2011, approved your company's request to lease unimproved land in the General Aviation area of the Cyril E. King Airport, St. Thomas, VI, to place a 5,000 gallon fuel truck. A lease for 580 square feet (14.5' x 40') of space for five years only was approved. The initial annual rental rate shall be $3,000 per annum ($250.00/mo.). An increase in rent shall occur on the third anniversary. Please note the approval was also based on the following conditions: 1. TWA may only self-fuel to aircraft and/or helicopter(s) it owns and that is/are registered to the company; 2. All construction costs for the fuel truck parking/containment area are to be borne by TWA; and 3. The fueling pad/containment area and truck must be permitted and certified by local and federal agencies regulating such type operations. EFTA01080421 Maria Hodge, Esq. Law Offices of Hodge and Francois Re: Thomas World Air, LLC August 24, 2011 Page 2 Please contact Denise Mills, Director of Property Management at (340) 774-1629 ext. 6609 to visit the site for the parking/containment area. Proposed lease agreement will follow shortly for review and execution. Should you have any further questions, please contact Denise Mills, Director of Property Management at (340) 774-1629 ext. 6609. Sincerely, Ke obson Executive Director KH/dmm Pc: Denise M. Mills, CPM®, Director of Property Management — VIPA Dale Gregory, Director of Engineering - VIPA Jose Nazario, Airport Manager (STT) — VIPA EFTA01080422