Document:

Exhibit 10.2

AIRCRAFT DRY LEASE

This Lease of aircraft is made effective as of May 9,
2006, by and between Advance America, Cash Advance Centers, Inc. a corporation,
with an address of 135 N. Church Street, Spartanburg, South Carolina 29306 (“Lessor”) and Arizona, LLC a limited liability company,
with an address of 961 E. Main St. Spartanburg, South Carolina 29302 (“Lessee”).

RECITALS

The parties recite that:

A.            WHEREAS,
AA Air, LLC a limited liability company, with an address of 135 N. Church
Street, Spartanburg, South Carolina 29306 is the registered owner and Advance America,
Cash Advance Centers, Inc., is the lessee under an Aircraft Dry Lease by and between
AA Air, LLC and Advance America, Cash Advance Centers, Inc. (“Master Lease”) of
the following aircraft, together with the engines, APU(s) and all appliances,
parts, instruments, avionics and appurtenances thereto, including any
replacement part(s) or engine(s) which may be installed on the Aircraft from
time to time, and all logs, manuals and other records relating to such Aircraft
(collectively, “Aircraft”):

	
  FAA Registration Number:

  	
   

  	
  [Redacted]

  
	
  Aircraft Serial Number:

  	
   

  	
  [Redacted]

  
	
  Aircraft Manufacturer:

  	
   

  	
  [Redacted]

  
	
  Aircraft Model

  	
   

  	
  [Redacted]

  

 

B.            WHEREAS,
Lessor and Lessee desires to sub-lease the Aircraft under such terms and
conditions as are mutually satisfactory to the parties.

The parties agree as follows:

Section One-Lease of Aircraft

For One and No/100 Dollar ($1.00) and other good and
valuable consideration, Lessor agrees to lease the Aircraft to Lessee on a
nonexclusive basis.  It shall be
conclusively presumed between the parties that Lessee has fully inspected the
Aircraft having knowledge that it is in good condition and repair and that
Lessee is satisfied with and has accepted the Aircraft in such condition and
repair. THE AIRCRAFT IS LEASED “AS IS” AND “WHERE IS”. LESSOR HEREBY DISCLAIMS
ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN, INCLUDING FITNESS
FOR A PARTICULAR PURPOSE.

Section Two-Term

This Lease will commence on the date first above
written and continue for one year after said date. Thereafter, this Lease will
be automatically renewed on a month to month

 1
 

 

basis, unless sooner terminated by either party as hereinafter
provided. Either party may at any time terminate this Lease upon thirty (30) days
written notice to the other party, delivered personally or by certified mail,
return receipt requested, at the address for said other party as set forth
above.

Section Three-Commercial
Operation Restriction

Neither Lessee nor Lessor will make the Aircraft
available for hire within the meaning of the Federal Aviation Regulations. The
Aircraft is to be operated strictly in accordance with 14 C.F.R. Part 91.

Section Four-Scheduling

Lessee will provide Lessor with requests for flight
time and proposed flight schedules as far in advance of any given flight as
possible, and in any case, at least twelve (12) hours in advance of Lessee’s
planned departure. Requests for flight time will be in a form whether oral or
written, mutually convenient to and agreed upon by the parties. In addition to
proposed schedules and flight times, Lessee will provide at least the following
information for each proposed flight at some time prior to scheduled departure
as required by the Lessor:

(a)           Proposed departure point;

(b)           Destination;

(c)           Time of flight;

(d)           Number of anticipated passengers;

(e)           Nature and extent of luggage and/or cargo to be carried;

(f)            Date and time of return for return flight, if
any;

(g)           Names and addresses of flight crew to be hired by Lessee; and 

(h)           Any flight information concerning the proposed flight that may be
pertinent or required by Lessor.

Lessor has final authority over the scheduling of
the Aircraft, provided, however, that the Lessor will use its best efforts to
accommodate Lessee’s needs and to avoid conflicts in scheduling.

Section Five-Insurance

At all times during the term of this Lease, Lessor
will cause to be carried and maintained physical damage insurance with respect
to the Aircraft in the amount set forth below:

	
  Aircraft Physical Damage

  (No Deductible While

  In Motion or Not In Motion)

  	
   

  	
  $

  	
  5,000,000.00

  	
   

  

 

 2
 

 

 

At all times during the term of this Lease, Lessor
will also cause to be carried and maintained third party aircraft liability
insurance, passenger legal liability insurance, property damage liability
insurance, and medical expense insurance in the amounts set forth below:

	
  Combined Liability Coverage
  for

  Bodily Injury and Property Damage

  Including Passengers - 

  Each Occurrence

  	
   

  	
  $

  	
  100,000,000.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Medical Expense Coverage - Each Person

  	
   

  	
  $

  	
  5,000.00

  	
   

  

 

Lessee’s proportionate share of the cost of the
above insurance is included in Lessee’s lease payments to Lessor. Lessee will
also bear the cost of paying any deductible amount on any policy of insurance
in the event of a claim or loss.

Any policies of insurance carried in accordance with
this Lease: (i) shall name Lessee as an additional insured; and (ii) shall
contain a waiver by the underwriter thereof of any right of subrogation against
Lessor. Each liability policy shall be primary without right of contribution
from any other insurance which is carried by Lessee or Lessor and shall
expressly provide that all of the provisions thereof, except the limits of
liability, shall operate in the same manner as if there were a separate policy
covering each insured.

Section Six-Restrictions on Use

Lessee may operate the Aircraft only for the
purposes and within the geographical limits set forth in the insurance policy
or policies obtained in compliance with this Lease. The Aircraft will be
operated at all times in accordance with the flight manual and all
manufacturers suggested operating procedures. Furthermore, Lessee will not use
the Aircraft in violation of any foreign, federal, state, territorial, or
municipal law or regulation and will be solely responsible for any fines,
penalties, or forfeitures occasioned by any violation by Lessee. If such fines
or penalties are imposed on Lessor and paid by Lessor, Lessee will reimburse
Lessor for the amount thereof within thirty (30) days of receipt by Lessee of
written demand from Lessor. Lessee will not base the Aircraft, or permit it to
be based, outside the limits of the United States of America, without the
written consent of Lessor.

The Aircraft will be flown only by certificated and
qualified pilots and will be maintained only by certificated and qualified
mechanics. Lessee, through its pilot in command, is authorized to incur up to
$5,000 worth of necessary maintenance and repair work for the Aircraft per
flight, by certificated and qualified mechanics, without the prior written
approval of Lessor. Lessee will be reimbursed for such expenditures upon
Lessor’s receipt of invoices and proof of payment by Lessee. In the event the
insurance on the Aircraft would be

 3
 

 

invalidated because Lessee is unable to obtain certificated and
qualified pilots and mechanics, Lessee will not operate the Aircraft until such
time as certificated and qualified pilots and mechanics are obtained and
insurance on the Aircraft is made valid.

Lessee will not directly or indirectly create,
incur, assume or suffer to exist any lien on or with respect to the Aircraft. Lessee
will promptly, at its own expense, take such action as may be necessary to
discharge any lien not excepted above if the same will arise at any time.

Section Seven-Inspection by Lessor

 

Lessee agrees to permit Lessor or any authorized
agent to inspect the Aircraft at any reasonable time and to furnish any
information in respect to the Aircraft and its use that Lessor may reasonably
request.

Section Eight-Alterations

 

Except in accordance with other written agreements
entered into subsequent to the date of this Lease between Lessee and Lessor
regarding maintenance of the Aircraft, Lessee will not have the right to alter,
modify, or make additions or improvements to the Aircraft without the written
permission of Lessor. All such alterations, modifications, additions, and
improvements as are so made will become the property of Lessor and will be
subject to all of the terms of this Lease.

Section Nine-Maintenance and
Repair

Lessee shall inspect the Aircraft and all
maintenance records pertaining to the Aircraft and confirm the airworthiness of
the Aircraft prior to each flight under this Lease. If Lessee determines any
repair or maintenance should be completed prior to any flight, Lessee shall not
operate the Aircraft until such time as certificated and qualified mechanics
have completed such repairs or maintenance. Lessor shall schedule and pay for
all repairs and maintenance on the Aircraft during the term of this Lease,
including all ferrying flights and transportation charges on replacements parts
and accessories. Lessee’s proportionate share of the cost of all such repairs
and maintenance is included in Lessee’s lease payments to Lessor. Lessor will
be entitled to any and all salvage from broken or worn out parts.

All inspections, repairs, modifications, maintenance,
and overhaul work to be accomplished by Lessor will be performed by personnel
certificated to perform such work and will be performed in accordance with the
standards set by the Federal Aviation Regulations. Lessee will maintain all log
books and records pertaining to the Aircraft during the term of this Lease in
accordance with the Federal Aviation Regulations. Such records will be made
available for examination by Lessor, and at the termination of this Lease,
Lessee will deliver such records to Lessor.

 4
 

 

Section Ten-Default and Remedy

Lessee shall be in breach of this Lease if Lessee
defaults in its obligations under this Lease and such default continues for
five (5) days after receipt by Lessee of written notice thereof from Lessor,
unless such default shall be of such a nature that the same cannot be
completely remedied or cured within such five (5) day period, then such default
shall not be a breach of this Lease for the purposes of this Section if Lessee
shall have commenced curing such default within such five (5) day period and
shall proceed with reasonable diligence and in good faith to remedy the
default. In the event of any breach by Lessee, Lessee shall not fly the
Aircraft and Lessor shall have the right to repossess the Aircraft without
further demand, notice or court order, or other process of law and to terminate
this Lease immediately. Exercise by Lessor of either or both of the rights
specified above shall not prejudice Lessor’s right to pursue any other remedy
available to Lessor in law or equity.

Lessor shall be in breach of this Lease if Lessor
defaults in its obligations under this Lease and such default continues for
five (5) days after receipt by Lessor of written notice thereof from Lessee,
unless such default shall be of such a nature that the same cannot be
completely remedied or cured within such five (5) day period; then such default
shall not be a breach of this Lease for the purposes of this Section if Lessor
shall have commenced curing such default within such five (5) day period and
shall proceed with reasonable diligence and in good faith to remedy the
default. In the event of any breach by Lessor, Lessee shall have the right to
terminate this Lease immediately. Exercise by Lessee of any of the rights
specified above shall not prejudice Lessee’s right to pursue any other remedy
available to Lessee in law or equity.

The failure of either party to enforce strictly any
provision of this Lease shall not be construed as a waiver thereof and shall
not preclude such party from demanding performance in accordance with the terms
hereof.

Section Eleven-Title

 

The registration of and title to the Aircraft will
be in the name of the Lessor, and the Aircraft, at all times during the term of
this Lease or any extension, will bear United States registration markings. All
responsibility and obligations in regard to the operation of the Aircraft as
above owned, registered, and marked will be borne by Lessee during the term of
this Lease.

Section Twelve-Payment of Taxes

Lessor will pay or cause to be paid all taxes
incurred by reason of ownership of the Aircraft during the term of this Lease, including
personal property taxes.  Lessee shall
pay its proportional share of personal property taxes, based on Lessee’s hours
of use of the Aircraft as a percentage of the entire number of hours of use of
the Aircraft for the calendar year for which the personal property taxes are
imposed. Lessee will pay all taxes associated with Lessee’s use of the Aircraft
on Lessee’s own business, including landing fees, fuel taxes, and

 5
 

 

any other taxes or fees which may be assessed against a specific flight
by Lessee.

Section Thirteen-Assignment

Lessor hereby acknowledges and consents to the
sub-lease or subletting of the Aircraft under the terms and conditions as the
Lessee and the sub-lessee shall agree. Subject to the foregoing, this Lease
inures to the benefit of, and is binding on, the heirs, legal representatives,
successors, and permitted assigns of the parties.

Section Fourteen-Accident and
Claims

Lessee will immediately notify Lessor of each
accident involving the Aircraft, which notification will specify the time,
place, and nature of the accident or damage, the names and addresses of parties
involved, persons injured, witnesses, and owners of properties damaged, and
such other information as may be known. Lessee will advise Lessor of all
correspondence, papers, notices, and documents whatsoever received by Lessee in
connection with any claim or demand involving or relating to the Aircraft or
its operation, and will aid in any investigation instituted by Lessor and in the
recovery of damages from third persons liable therefor.

Section Fifteen-Indemnification

 

Lessee assumes liability for, and hereby agrees to
indemnify, defend, protect, save, keep and hold harmless Lessor, its
successors, agents, accountants, counsel, affiliates and assigns from and
against any and all claims, liabilities, demands, obligations, losses, damages,
penalties, claims (including without limitation, claims involving strict or
absolute liability in tort), actions, suits, costs, expenses and disbursements
(including, without limitation, reasonable legal fees and expenses) of any kind
and nature whatsoever (“Claims”)
which may be imposed on, incurred by or asserted against Lessor, in any way
relating to or arising out of this Lease, and/or the operation of the Aircraft,
or the performance or enforcement of any of the terms hereof, or in any way
relating to or arising out of the manufacture, or, as contemplated under this
Lease, acceptance, rejection, ownership, delivery, lease, possession, use,
operation, maintenance, function, registration, sale, return, storage,
termination or other disposition of the Aircraft or any part thereof or any
accident in connection therewith (including, without limitation, latent and
other defects, whether or not discoverable). If any Claim is made against
Lessor, Lessor shall promptly notify Lessee and cooperate fully in the defense
or settlement. Whether the indemnity granted by Lessee to Lessor herein is deemed
subordinate or primary to any other indemnity to which each Lessor may be
entitled, Lessor may look solely to Lessee and need not pursue any Claims
against any third person prior to or subsequent to seeking the indemnity from
Lessee hereunder. Lessor shall have the opportunity, but not the obligation, to
defend if Lessee fails to assert a defense in any such Claim hereunder, the
cost of which defense shall be borne by Lessee. THE INDEMNITIES IN THIS SECTION
SHALL CONTINUE IN FULL FORCE AND EFFECT

 6
 

 

NOTWITHSTANDING THE EXPIRATION OR OTHER TERMINATION OF THIS LEASE.

Section Sixteen-Return of
Aircraft to Lessor

On the termination of this Lease by expiration or
otherwise, Lessee will return the Aircraft to Lessor at the City of Spartanburg
Municipal Airport in Spartanburg, South Carolina, in as good operating
condition and appearance as when received, ordinary wear, tear and
deterioration excepted, and will indemnify Lessor against any claim for loss or
damage occurring prior to the actual physical delivery of the Aircraft to
Lessor.

Section Seventeen-Modification of
Agreement

This Lease constitutes the entire understanding
between the parties, and any change or modification must be in writing and
signed by both parties.

Section Eighteen-Notices

 

All communications and notices provided for herein
shall be in writing and shall become effective when telecopied at time of
transmission by electronic facsimile transmission equipment, which equipment
shall furnish written confirmation of successful and completed transmission of
all pages without error in transmission (to Lessor at 864-580-5458 or to Lessee
at 864-594-5856) or the next business day after delivered to a reputable overnight
courier or four (4) days following deposit in the United States mail, with
correct postage for first-class mail prepaid, addressed to Lessor or Lessee at
their respective addresses set forth herein, or else as otherwise directed by
the other party from time to time in writing.

Section Nineteen-Governing Law

This Lease is entered into under, and is to be
construed in accordance with, the laws of the State of South Carolina.

Section Twenty-Subject and
Subordinate

This Lease, and the rights and obligations of the
Lessor and Lessee herein, shall be subject and subordinate to the rights, obligations,
terms and conditions of the Master Lease.

[Remainder of this page intentionally left blank]

 7
 

 

SECTION TWENTY-ONE-TRUTH IN
LEASING STATEMENT

THE AIRCRAFT, A [REDACTED], MANUFACTURER’S SERIAL
NO. [REDACTED], CURRENTLY REGISTERED WITH THE FEDERAL AVIATION ADMINISTRATION
AS [REDACTED], HAS BEEN MAINTAINED AND INSPECTED UNDER FAR PART 91 DURING THE
12 MONTH PERIOD PRECEDING THE DATE OF THIS LEASE.

THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED UNDER
FAR PART 91 FOR OPERATIONS TO BE CONDUCTED UNDER THIS LEASE. DURING THE
DURATION OF THIS LEASE, ARIZONA, LLC OF 961 E. MAIN ST., SPARTANBURG, SOUTH
CAROLINA 29302 IS CONSIDERED RESPONSIBLE FOR OPERATIONAL CONTROL OF THE
AIRCRAFT UNDER THIS LEASE.

AN EXPLANATION OF FACTORS BEARING ON OPERATIONAL
CONTROL AND PERTINENT FEDERAL AVIATION REGULATIONS CAN BE OBTAINED FROM THE
NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE.

THE “INSTRUCTIONS FOR COMPLIANCE WITH TRUTH IN
LEASING REQUIREMENTS” ATTACHED HERETO ARE INCORPORATED HEREIN BY REFERENCE.

I, THE UNDERSIGNED Dan C. Breeden, Jr., AS Secretary
/ Treasurer OF ARIZONA, LLC OF 961 E. MAIN ST., SPARTANBURG, SOUTH CAROLINA
29302 CERTIFY THAT IT IS RESPONSIBLE FOR OPERATIONAL CONTROL OF THE AIRCRAFT
AND THAT I UNDERSTAND THE RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE
FEDERAL AVIATION REGULATIONS.

IN WITNESS WHEREOF, the parties have executed this
Lease.

	
  Arizona, LLC

  	
   

  	
  Advance America Cash, Advance

  
	
   

  	
   

  	
  Centers, Inc.

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Dan C. Breeden, Jr

  	
   

  	
   

  	
  By:

  	
  /s/ Ken E Compton

  	
   

  
	
  Name:

  	
  Dan C. Breeden, Jr

  	
   

  	
   

  	
  Name:

  	
  Ken E Compton

  	
   

  
	
  Title:

  	
  Secretary / Treasurer

  	
   

  	
   

  	
  Title:

  	
  President / CEO

  	
   

  
	
  May 9,
  2006  1:35 PM

  	
   

  	
   

  	
  May 9,
  2006  1:30 PM

  	
   

  
	
  Date and Time of Execution

  	
   

  	
  Date and Time of Execution

  
	
   

  	
   

  	
   

  
	
  Agreed and Acknowledged:

  	
   

  	
   

  
	
  AA Air, LLC

  	
   

  	
   

  
	
  By:

  	
  /s/ Robert W. Shaw

  	
   

  	
   

  	
   

  
	
  Title:

  	
  Secretary

  	
   

  	
   

  	
   

  
	
  May 9,
  2006  1:45 PM

  	
   

  	
   

  	
   

  
	
  Date and Time of Execution

  	
   

  	
   

  
											

 

 8Exhibit 10.3

AIRCRAFT
DRY LEASE

This Lease of aircraft is made effective as of 6/15,
2005, by and between Arizona, LLC a limited liability company, with an address
of 961 E. Main St. Spartanburg, South Carolina 29302 (“Lessor”)
and Advance America Cash Advance Centers, Inc. with an address of 135
North Church Street, Spartanburg, SC 29306 (“Lessee”).

RECITALS

The parties recite that:

A.            WHEREAS, Lessor is the registered owner of the following
aircraft, together with the engines, APU(s) and all appliances, parts,
instruments, avionics and appurtenances thereto, including any replacement
part(s) or engine(s) which may be installed on the Aircraft from time to
time, and all logs, manuals and other records relating to such Aircraft
(collectively, “Aircraft”):

	
  FAA Registration Number:

  	
   

  	
  [Redacted]

  
	
  Aircraft Serial
  Number:

  	
   

  	
  [Redacted]

  
	
  Aircraft
  Manufacturer:

  	
   

  	
  [Redacted]

  
	
  Aircraft Model:

  	
   

  	
  [Redacted]

  

 

B.            WHEREAS, Lessee desires to lease the Aircraft under such
terms and conditions as are mutually satisfactory to the parties.

The parties agree as
follows:

Section One-Lease of
Aircraft

For One and No/100 Dollar
($1.00) and other good and valuable consideration, Lessor agrees to lease the
Aircraft to Lessee on a nonexclusive basis. It shall be conclusively presumed
between the parties that Lessee has fully inspected the Aircraft having
knowledge that it is in good condition and repair and that Lessee is satisfied
with and has accepted the Aircraft in such condition and repair. THE AIRCRAFT
IS LEASED “AS IS” AND “WHERE IS”. LESSOR HEREBY DISCLAIMS ALL WARRANTIES,
WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN, INCLUDING FITNESS FOR A PARTICULAR
PURPOSE.

Section Two-Term

This Lease will commence on
the date first above written and continue for one year after said date.
Thereafter, this Lease will be automatically renewed on a month to month-basis,
unless sooner terminated by either party as hereinafter provided. Either party
may at any time terminate this Lease upon thirty (30) days written notice
to the other party, delivered personally or by certified mail, return receipt
requested, at the address for said other party as

 1
 

 

set forth above.

Section Three-Commercial
Operation Restriction

Neither Lessee nor Lessor
will make the Aircraft available for hire within the meaning of the Federal
Aviation Regulations. The Aircraft is to be operated strictly in accordance
with 14 C.F.R. Part 91.

Section Four-Scheduling

Lessee will provide Lessor
with requests for flight time and proposed flight schedules as far in advance
of any given flight as possible, and in any case, at least twelve (12) hours in
advance of Lessee’s planned departure. Requests for flight time will be in a
form whether oral or written, mutually convenient to and agreed upon by
the parties. In addition to proposed schedules and flight times, Lessee will
provide at least the following information for each proposed flight at some
time prior to scheduled departure as required by the Lessor:

(a)                                  Proposed departure point;

(b)                                 Destination;

(c)                                  Time of flight;

(d)                                 Number of anticipated passengers;

(e)                                  Nature and extent of luggage and/or cargo to
be carried; 

(f)                                    Date and time of return for return flight, if
any;

(g)                                 Names and addresses of flight crew to be hired
by Lessee; and 

(h)                                 Any flight information concerning the
proposed flight that may be pertinent or required by Lessor.

Lessor has final authority
over the scheduling of the Aircraft, provided, however, that the Lessor will
use its best efforts to accommodate Lessee’s needs and to avoid conflicts in
scheduling.

Section Five-Insurance

At
all times during the term of this Lease, Lessor will cause to be carried and
maintained physical damage insurance with respect to the Aircraft in the amount
set forth below:

	
  Aircraft Physical Damage

  (No Deductible
  While In Motion or Not In Motion)

  	
  $

  	
  5,000,000.00

  	
   

  
	
   

  

 

At all times during the term
of this Lease, Lessor will also cause to be carried and maintained third party
aircraft liability insurance, passenger legal liability insurance, property

 2
 

 

damage liability insurance,
and medical expense insurance in the amounts set forth below:

	
  Combined Liability Coverage
  for Bodily Injury and Property Damage Including Passengers - Each Occurrence

  	
   

  	
  $

  	
  100,000,000.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Medical Expense
  Coverage - Each Person

  	
   

  	
  $

  	
  5,000.00

  	
   

  

 

Lessee’s
proportionate share of the cost of the above insurance is included in Lessee’s
lease payments to Lessor. Lessee will also bear the cost of paying any deductible
amount on any policy of insurance in the event of a claim or loss.

Any
policies of insurance carried in accordance with this Lease: (i) shall
name Lessee as an additional insured; and (ii) shall contain a waiver by
the underwriter thereof of any right of subrogation against Lessor. Each
liability policy shall be primary without right of contribution from any other
insurance which is carried by Lessee or Lessor and shall expressly provide that
all of the provisions thereof, except the limits of liability, shall operate in
the same manner as if there were a separate policy covering each insured.

Section Six-Restrictions
on Use

Lessee
may operate the Aircraft only for the purposes and within the geographical
limits set forth in the insurance policy or policies obtained in compliance
with this Lease. The Aircraft will be operated at all times in accordance with
the flight manual and all manufacturers suggested operating procedures.
Furthermore, Lessee will not use the Aircraft in violation of any foreign, federal,
state, territorial, or municipal law or regulation and will be solely
responsible for any fines, penalties, or forfeitures occasioned by any
violation by Lessee. If such fines or penalties are imposed on Lessor and paid
by Lessor, Lessee will reimburse Lessor for the amount thereof within thirty
(30) days of receipt by Lessee of written demand from Lessor. Lessee will not
base the Aircraft, or permit it to be based, outside the limits of the United
States of America, without the written consent of Lessor.

The
Aircraft will be flown only by certificated and qualified pilots and will be maintained
only by certificated and qualified mechanics. Lessee, through its pilot in
command, is authorized to incur up to $5,000 worth of necessary maintenance and
repair work for the Aircraft per flight, by certificated and qualified
mechanics, without the prior written approval of Lessor. Lessee will be
reimbursed for such expenditures upon Lessor’s receipt of invoices and proof of
payment by Lessee. In the event the insurance on the Aircraft would be
invalidated because Lessee is unable to obtain certificated and qualified
pilots and mechanics, Lessee will not operate the Aircraft until such time as
certificated and qualified pilots and mechanics are obtained and insurance on
the Aircraft is made valid.

 3
 

 

Lessee will not directly or indirectly create, incur, assume or suffer to
exist any lien on or with respect to the Aircraft. Lessee will promptly, at its
own expense, take such action as may be necessary to discharge any lien
not excepted above if the same will arise at any time.

Section Seven-Inspection by
Lessor

Lessee agrees to permit
Lessor or any authorized agent to inspect the Aircraft at any reasonable time
and to furnish any information in respect to the Aircraft and its use that
Lessor may reasonably request.

Section Eight-Alterations

Except in accordance with
other written agreements entered into subsequent to the date of this Lease
between Lessee and Lessor regarding maintenance of the Aircraft, Lessee will not
have the right to alter, modify, or make additions or improvements to the
Aircraft without the written permission of Lessor. All such alterations,
modifications, additions, and improvements as are so made will become the
property of Lessor and will be subject to all of the terms of this Lease.

Section Nine-Maintenance and
Repair

Lessee shall inspect the
Aircraft and all maintenance records pertaining to the Aircraft and confirm the
airworthiness of the Aircraft prior to each flight under this Lease. If Lessee
determines any repair or maintenance should be completed prior to any flight,
Lessee shall not operate the Aircraft until such time as certificated and
qualified mechanics have completed such repairs or maintenance. Lessor shall
schedule and pay for all repairs and maintenance on the Aircraft during
the term of this Lease, including all ferrying flights and transportation
charges on replacements parts and accessories. Lessee’s proportionate share of
the cost of all such repairs and maintenance is included in Lessee’s lease
payments to Lessor. Lessor will be entitled to any and all salvage from broken
or worn out parts.

All inspections, repairs,
modifications, maintenance, and overhaul work to be accomplished by Lessor will
be performed by personnel certificated to perform such work and will be
performed in accordance with the standards set by the Federal Aviation
Regulations. Lessee will maintain all log books and records pertaining to the
Aircraft during the term of this Lease in accordance with the Federal Aviation
Regulations. Such records will be made available for examination by Lessor, and
at the termination of this Lease, Lessee will deliver such records to Lessor.

Section Ten-Default and Remedy

Lessee shall be in breach of
this Lease if Lessee defaults in its obligations under this

 4
 

 

Lease and such default continues for five
(5) days after receipt by Lessee of written notice thereof from Lessor,
unless such default shall be of such a nature that the same cannot be
completely remedied or cured within such five (5) day period, then such
default shall not be a breach of this Lease for the purposes of this
Section if Lessee shall have commenced curing such default within such
five (5) day period and shall proceed with reasonable diligence and in
good faith to remedy the default. In the event of any breach by Lessee, Lessee
shall not fly the Aircraft and Lessor shall have the right to repossess the
Aircraft without further demand, notice or court order or other process of law
and to terminate this Lease immediately. Exercise by Lessor of either or both
of the rights specified above shall not prejudice Lessor’s right to pursue any
other remedy available to Lessor in law or equity.

Lessor shall be in breach of
this Lease if Lessor defaults in its obligations under this Lease and such
default continues for five (5) days after receipt by Lessor of written
notice thereof from Lessee, unless such default shall be of such a nature that
the same cannot be completely remedied or cured within such five (5) day
period, then such default shall not be a breach of this Lease for the purposes
of this Section if Lessor shall have commenced curing such default within
such five (5) day period and shall proceed with reasonable diligence and
in good faith to remedy the default. In the event of any breach by Lessor,
Lessee shall have the right to terminate this Lease immediately. Exercise by
Lessee of any of the rights specified above shall not prejudice Lessee’s right
to pursue any other remedy available to Lessee in law or equity.

The failure of either party
to enforce strictly any provision of this Lease shall not be construed as a
waiver thereof and shall not preclude such party from demanding performance in
accordance with the terms hereof.

Section Eleven-Title

The registration of and
title to the Aircraft will be in the name of the Lessor, and the Aircraft, at
all times during the term of this Lease or any extension, will bear United
States registration markings. All responsibility and obligations in regard to
the operation of the Aircraft as above owned, registered, and marked will be
borne by Lessee during the term of this Lease.

Section Twelve-Payment of Taxes

Lessor will pay or cause to
be paid all taxes incurred by reason of ownership of the Aircraft during the
term of this Lease, including personal property taxes. Lessee shall pay its
proportional share of personal property taxes, based on Lessee’s hours of use
of the Aircraft as a percentage of the entire number of hours of use of the
Aircraft for the calendar year for which the personal property taxes are
imposed. Lessee will pay all taxes associated with Lessee’s use of the Aircraft
on Lessee’s own business, including landing fees, fuel taxes, and any other
taxes or fees which may be assessed against a specific flight by Lessee.

 5
 

 

Section Thirteen-Assignment

Lessee shall not assign this
Lease or any interest in the Aircraft, or sublet the Aircraft, without prior
written consent of Lessor. Subject to the foregoing, this Lease inures to the
benefit of, and is binding on, the heirs, legal representatives, successors,
and permitted assigns of the parties.

Section Fourteen-Accident and
Claims

Lessee will immediately
notify Lessor of each accident involving the Aircraft, which notification will
specify the time, place, and nature of the accident or damage, the names and
addresses of parties involved, persons injured, witnesses, and owners of
properties damaged, and such other information as may be known. Lessee
will advise Lessor of all correspondence, papers, notices, and documents
whatsoever received by Lessee in connection with any claim or demand involving
or relating to the Aircraft or its operation, and will aid in any
investigation, instituted by Lessor and in the recovery of damages from third
persons liable therefore.

Section Fifteen-Indemnification

Lessee assumes liability
for, and hereby agrees to indemnify, defend, protect, save, keep and hold
harmless Lessor, its successors, agents, accountants, counsel, affiliates and
assigns from and against any and all claims, liabilities, demands, obligations,
losses, damages, penalties, claims (including without limitation, claims
involving strict or absolute liability in tort), actions, suits, costs,
expenses and disbursements (including, without limitation, reasonable legal fees
and expenses) of any kind and nature whatsoever (“Claims”) which may be imposed on, incurred by or
asserted against Lessor, in any way relating to or arising out of this Lease,
and/or the operation of the Aircraft, or the performance or enforcement of any
of the terms hereof, or in any way relating to or arising out of the
manufacture, or, as contemplated under this Lease, acceptance, rejection,
ownership, delivery, lease, possession, use, operation, maintenance, function,
registration, sale, return, storage, termination or other disposition of the
Aircraft or any part thereof or any accident in connection therewith
(including, without limitation, latent and other defects, whether or not
discoverable). If any Claim is made against Lessor, Lessor shall promptly
notify Lessee and cooperate fully in the defense or settlement. Whether the
indemnity granted by Lessee to Lessor herein is deemed subordinate or primary
to any other indemnity to which each Lessor may be entitled, Lessor
may look solely to Lessee and need not pursue any Claims against any third
person prior to or subsequent to seeking the indemnity from Lessee hereunder.
Lessor shall have the opportunity, but not the obligation, to defend if Lessee
fails to assert a defense in any such Claim hereunder, the cost of which
defense shall be borne by Lessee. THE INDEMNITIES IN THIS SECTION SHALL
CONTINUE IN FULL FORCE AND EFFECT NOTWITHSTANDING THE EXPIRATION OR OTHER
TERMINATION OF THIS LEASE.

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Section Sixteen-Return
of Aircraft to Lessor

On the termination of this
Lease by expiration or otherwise, Lessee will return the Aircraft to Lessor at
the City of Spartanburg Municipal Airport in Spartanburg, South Carolina, in as
good operating condition and appearance as when received, ordinary wear, tear
and deterioration excepted, and will indemnify Lessor against any claim for
loss or damage occurring prior to the actual physical delivery of the Aircraft
to Lessor.

Section Seventeen-Modification
of Agreement

This Lease constitutes the
entire understanding between the parties, and any change or modification must
be in writing and signed by both parties.

Section Eighteen-Notices

All communications and
notices provided for herein shall be in writing and shall become effective when
telecopied at time of transmission by electronic facsimile transmission
equipment, which equipment shall furnish written confirmation of successful and
completed transmission of all pages without error in transmission (to
Lessor at 864-594-5856 or to Lessee at 864-515-5603 or the next business day
after delivered to a reputable overnight courier or four (4) days
following deposit in the United States mail, with correct postage for
first-class mail prepaid, addressed to Lessor or Lessee at their
respective addresses set forth herein, or else as otherwise directed by the
other party from time to time in writing.

Section Nineteen-Governing Law

This Lease is entered into
under, and is to be construed in accordance with, the laws of the State of
South Carolina.

[Remainder
of this page intentionally left blank]

 7
 

 

SECTION TWENTY-TRUTH
IN LEASING STATEMENT

THE
AIRCRAFT, A [REDACTED], MANUFACTURER’S SERIAL NO. [REDACTED], CURRENTLY
REGISTERED WITH THE FEDERAL AVIATION ADMINISTRATION AS [REDACTED], HAS BEEN
MAINTAINED AND INSPECTED UNDER FAR PART 91 DURING THE 12 MONTH PERIOD
PRECEDING THE DATE OF THIS LEASE.

THE
AIRCRAFT WILL BE MAINTAINED AND INSPECTED UNDER FAR PART 91 FOR OPERATIONS
TO BE CONDUCTED UNDER THIS LEASE. DURING THE DURATION OF THIS LEASE, ADVANCE
AMERICA CASH ADVANCE CENTERS, INC., WITH AN ADDRESS OF 135 NORTH CHURCH
STREET, SPARTANBURG, SOUTH CAROLINA 29306 IS CONSIDERED RESPONSIBLE FOR
OPERATIONAL CONTROL OF THE AIRCRAFT UNDER THIS LEASE.

AN
EXPLANATION OF FACTORS BEARING ON OPERATIONAL CONTROL AND PERTINENT FEDERAL
AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS
DISTRICT OFFICE.

THE
“INSTRUCTIONS FOR COMPLIANCE WITH TRUTH IN LEASING REQUIREMENTS” ATTACHED
HERETO ARE INCORPORATED HEREIN BY REFERENCE.

I,
THE, ADVANCE AMERICA CASH ADVANCE, INC. WITH AN ADDRESS OF 135 NORTH
CHURCH STREET, SPARTANBURG, SOUTH CAROLINA 29306 CERTIFY THAT I AM RESPONSIBLE
FOR OPERATIONAL CONTROL OF THE AIRCRAFT AND THAT I UNDERSTAND THE
RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS.

IN
WITNESS WHEREOF, the parties have executed this Lease.

Advance America Cash Advance
Centers, Inc.

	
  /s/ John T. Egeland

  	
   

  	
   

  	
   

  
	
  Signature

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
     06/15/05              9 AM

  	
   

  	
   

  	
   

  
	
  Date and Time of Execution

  	
   

  	
   

  

 

	
  Arizona, LLC

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ George D.
  Johnson, Jr

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
  George D.
  Johnson, Jr

  	
   

  	
   

  	
   

  
	
  Title: Manager

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
     6/15/05                11 AM

  	
   

  	
   

  	
   

  
	
  Date and Time of
  Execution

  	
   

  	
   

  
							

 

 8

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