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<br />In the event that LESSEE shall keep each and every agreement contained herein and do and <br /> <br />perform all the obligations required of LESSEE hereunder during the term of this lease, an option is <br /> <br /> <br />hereby given and granted to LESSEE to renew and extend this lease for an additional period of two <br /> <br /> <br />(2) years from and after the expiration of this agreement, for and in consideration of the delivery of <br /> <br /> <br />monthly payments, on the 1st day of each month, to the City Clerk of the City of Paris, during the <br /> <br /> <br />term of said two year option period, a certified statement of the gross receipts accruing to and from <br /> <br /> <br />the operation of the amusement center and each facility thereof for the immediately preceding month <br /> <br /> <br />therewith paying and delivering to the City of Paris as rental or lease money a sum equal to ten per <br /> <br />cent (10%) of said gross receipts, income from the operation of the miniature golf course, or any <br /> <br />other amusement placed on and used in the aforesaid property. Said option may be exercised by <br /> <br />LESSEE'S giving notice in writing of LESSEE'S intention to renew said lease on or before the 1st <br /> <br />day of March, 1999. <br />In consideration whereof, LESSOR and LESSEE mutually agree as follows: <br /> <br />(I) That LESSOR let and lease to LESSEE the above described property and premises <br /> <br />at the rental and for the term and consideration hereinabove set out, and upon the covenants and <br /> <br />conditions herein specified. <br /> <br />(2) If LESSEE shall at any time abandon such leased property and premises, or shall by <br /> <br />any means evidence his desire or intention to cease to operate thereat and thereon .an amusement and <br /> <br />recreation center, then LESSOR may, at its option, cancel this lease by action of its Governing Body, <br /> <br />reflected in the minutes of such Governing Body, without liability to LESSEE, his heirs or assigns, <br /> <br />and in such event LESSOR shall be entitled to and may dispose, as it may see fit, of any and all <br /> <br />improvements or equipment located thereon. <br /> <br /> <br />(3) That if the LESSEE shall make default in the payment of any rentals due under the terms <br /> <br /> <br />of this lease, then the LESSOR shall have the right to terminate said lease by giving the LESSEE <br /> <br /> <br />thirty (30) days notice in writing of its intention to terminate said lease, and any and all properties, <br /> <br />improvements or equipment thereon located, may be disposed of by the LESSOR as it sees fit. <br />