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<br />6. In the event LESSEE shall keep each and every agreement contained herein and do and <br /> <br />perform all the obligations required of it hereunder during the term of this lease, LESSOR grants <br /> <br />to LESSEE the fIrst right to renegotiate an extension of this Lease, which right may be exercised <br /> <br />by LESSEE giving notice, in writing, of its intention to renegotiate an extension of said Lease <br /> <br />thirty (30) days prior to the expiration of the primary term hereof. <br /> <br />7. All notices provided for herein must be made by registered or certifIed mail, return <br /> <br />receipt requested, to the following addresses: <br /> <br />If Lessor: <br /> <br />Richard and Betty Margraves <br />Rt. 6, Amherst Road, Box 800 <br />Paris, TX 75462 <br /> <br />If Lessee: <br /> <br />Michael E. Malone, City Manager <br />City of Paris <br />P. O. Box 9037 <br />Paris, TX 75461-9037 <br /> <br />8. The terms of this Lease are binding on and the benefIts herein inure to the heirs, <br /> <br />administrators, and executors of LESSOR and the successors and assigns of LESSEE. <br /> <br />EXECUTED ON the dates shown in the acknowledgments below. <br /> <br />LESSOR <br /> <br />By: <br /> <br />Richard Margraves <br /> <br />By: <br /> <br />Betty Margraves <br /> <br />CITY OF PARIS, PARIS, TEXAS, <br /> <br />By: <br /> <br />Mary Ann Fisher, Mayor Pro Tern <br /> <br />3 <br />