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<br />.09/16/9~ THU 08:54 FAX 90378%97%1 <br /> <br />C1 ty Attorney <br /> <br />~uu. <br /> <br />LEASE AGREEMENT <br /> <br />STATE OF' TEXAS <br />COUNTY OF' LAMAR <br /> <br />J <br />J <br />J <br /> <br />KNOW ALL MEN BY THESE PRESENTS, <br /> <br />That the CITY OF PARIS, a municIpal corporation, acting by <br /> <br /> <br />and through its City M~nager, Michael E. Malone, duly authorized, <br /> <br />betelnaftet referred to as LESSOR, and JAMES M. WRENN, JR., of <br /> <br /> <br />Lamar County, Texaa, hereinafter tf!ferred to as LESSEE, <br /> <br />WITNESSETH: <br /> <br />For and in consideration of the payment of monthly rental, <br />due on or before the 1st day of each month, to the LESSOR, and <br />each month thereafter, as follows: *325.00 per month, plus <br />utilities, said LESSOR does hereby lease, rent and let unto <br />LESstE that portIon of Cox Field property known a. the main <br />hangar and described On Exhibit A attacht'd hereto and made a ,part <br />h.reof for all legal purpo.... <br />The term of this lease is five (5) years, beginning on the <br />1st day of March, 1990, and endIng on tbe 28th day of February, <br />1995, <br /> <br />The rent established herein shall be increased or decreased <br /> <br />annually, in Febroary of each year, in the perCentage amount of <br /> <br /> <br />inCn!8Se or decrease in the Consumer Pr lee Index for All Urbsn <br /> <br />Consumers, (CPl-U United State. City Averag. (l982-84MI00.0) <br /> <br /> <br />above or below the rate for January, 1990, which shall be <br /> <br /> <br />determined to equal 127.4 as appropriate. <br /> <br />IN CONSIDERATION HEREOF, it i. mutually agre.d by and <br /> <br /> <br />betw..n LESSOR and LESSEE: <br /> <br />1. Tbat LESSEE poy to LESSOR, or Qrder, at the City Hall <br /> <br /> <br />in the City of Paris, the agreed rental in advance, promptly and <br /> <br /> <br />without neglect, default or delay. <br /> <br />2. that this leaSe is subject to a].1 the terms, provisions <br /> <br /> <br />and conditions of the deed of conveyance of such premises from <br /> <br /> <br />che United States of America to the City of Paris, recorded in <br /> <br /> <br />Book 308, Page 287, Real Property Records of Lamar County, Texas, <br /> <br />to which reference ~s made for all purposes. <br /> <br />EXHiBIT DAn <br /> <br />lY <br />