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<br />LEASE AGREEMENT <br /> <br />STATE OF TEXAS ) <br />) <br />COUNTY OF LAMAR ) <br /> <br />THIS LEASE AGREEMENT between the CITY OF PARIS, PARIS, TEXAS, a <br /> <br />KNOW ALL MEN BY THESE PRESENTS: <br /> <br />municipal corporation, acting by and through its Mayor, Curtis Fendley, duly <br />authorized, hereinafter called LESSOR, and PARIS RADIO CONTROL <br /> <br />ASSOCIATION, Paris, Texas, acting by and through its President, Wayne Harader, <br />duly authorized, hereinafter called LESSEE, is made this 10th day of October, <br /> <br />2005. <br /> <br />WITNESSETH <br /> <br />For and in consideration of the payment to the CITY OF PARIS, a municipal <br />corporation, of the sum of ONE AND NO /100 DOLLARS ($1.00) and other good <br />and valuable consideration, the receipt and sufficiency of which is hereby <br />acknowledged, the CITY OF PARIS, a municipal corporation, does hereby lease, <br /> <br />rent, and let unto the PARIS RADIO CONTROL ASSOCIATION 3.673 acres of Lake <br /> <br />Gibbons property more particularly described on Exhibit A, attached hereto. <br /> <br />IN CONSIDERATION WHEREOF, it is mutually agreed by and between <br />LESSOR and LESSEE: <br /> <br />1. The term of this lease is for five (5) years, beginning on the 1st day of <br /> <br /> <br />December, 2005, and ending on the 30th day of November, 2010, at which time <br /> <br /> <br />and on which date the same shall terminate, unless sooner terminated as herein <br /> <br />specified and provided, during which time LESSEE may and shall use the same <br />for model aviation purposes only. <br />2. That LESSEE shall pay to LESSOR, or order, at the City Hall in the City <br />of Paris, the agreed rental in advance, promptly and without neglect, default, and <br />delay. <br /> <br />-1- <br /> <br />EXHIBIT A <br />