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<br />term of this Lease.
<br />
<br />In the event that final termination of said Lease occurs during the first option, there shall: "
<br />
<br />, ".;'.,
<br />be no payment due LESSEES. However, the City of Paris may agree to give LESSEES hangar ..
<br />
<br />spaee of equal quality, size and usefulness, and LESSEES are granted the right to lease sueh
<br />
<br />substitute space for FIVE (5) years at a rental based on either $.06 per square foot or the fair
<br />
<br />market value at the time of such termination, whichever is greater, payable to the CITY OF.
<br />
<br />PARIS, a municipal corporation, payable as aforesaid.
<br />
<br />In the event that final termination of said Lease occurs during the second option, there shall
<br />
<br />be no payment due LESSEES. However, the City of Paris may agree to give LESSEES hangar
<br />
<br />space of equal quality, size and usefulness, and LESSEES arc granted the right to lease such
<br />
<br />substitute space for FIVE (5) years, at a rental based on either $.06 per square foot or the fair
<br />
<br />market value at the time of such termination, whichever is greater. payable as aforesaid.
<br />
<br />20. The terms of this Lease are binding on, and the benefits herein inure to, the heirs,
<br />
<br />administrators and executors of LESSEES.
<br />
<br />EXECUTED ON the dates shown in acknowledgments below.
<br />
<br />
<br />By:
<br />
<br />Michael E. Malone, City Manager
<br />
<br />ATTEST:
<br />
<br />~~ .~ ~~ ~ .""~~rtV
<br />Mattie Cunningham, City Clerk
<br />
<br />
<br />o FORM:
<br />
<br />r~
<br />, 'ity Attorney
<br />
<br />STATE OF TEXAS )
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