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215 <br /> <br /> further effect, all rights, claims and interest of BITCO in and to said property shall thereupon <br /> terminate and be at an end and the property shall unconditionally belong to PEDC. <br /> <br />__ 10. It is agreed that written notice from PEDC addressed and mailed by certified or <br /> registered mail to BITCO at P. O. Box 838, Paris, TX 75461, with a copy to C. David <br /> Rhoades at 100 N. Broadway, Suite 3040, Oklahoma City, OK 73108-8606, shall be sufficient <br /> notice of cancellation of this Contract pursuant to any condition of default by BITCO, it being <br /> specifically agreed that no further notice shall be necessary. <br /> <br /> 11. In the event that, at the end of this Lease, BITCO exercises its option to purchase <br /> the property described in Exhibit A, attached hereto, along with the improvements thereon, <br /> PEDC shall, upon payment of the entire purchase price by BITCO, convey said property to <br /> BITCO by Warranty Deed, on current form of the State Bar of Texas, conveying good and <br /> indefeasible title, with covenant of general warranty, subject to any conditions and restrictions <br /> existing against said property, and any other exceptions that may be hereinafter specifically set <br /> forth. <br /> <br /> 12. The terms of this Lease are binding on, and the benefits herein inure to, the legal <br /> representatives, successors, and assigns of BITCO. <br /> <br /> EXECUTED ON the dates shown in acknowledgements below. <br /> <br /> PARIS ECONOMIC DEVELOPMENT <br /> CORPORATION <br /> <br /> By: <br /> Philip R. Cecil, President <br /> ATTEST: <br /> <br /> Richard M. Amis, Secretary-Treasurer <br /> <br /> 6 <br /> <br /> APPROVED AS TO FORM: <br /> <br /> T. K. Haynes, City Attorney <br /> <br /> BITS INTERNATIONAL COMPANY, <br /> dba BITCO <br /> <br /> By: <br /> Charles D. Rhoades, President <br /> <br /> <br />