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<br />. . <br /> <br />( <br /> <br />'. <br /> <br />LEASE AGREEMENT <br /> <br />This is a Lease Agreement between the CITY OF PARIS, a municipal corporation, <br /> <br />hereinafter refcn-ed to as LESSOR, and RED RIVER VALLEY FAIR ASSOCIATION <br />, <br /> <br />::::: <br /> <br />INC., a Texas corporation, hereinafter referred to as LESSEE, executed in duplicate on this <br /> <br />I <br />.' <br /> <br />the 10th day of March, 1997, WITNESSETH: <br /> <br />The leased premises consist's of the following described propcrty owned by Lessor in <br /> <br />Paris, Lamar County, Texas: <br /> <br />AIt that celiain tract or parcel of land as described in Exhibit nAn attached hereto and <br />made a part hereof for all purposes. <br /> <br />The telm of this lease shall be for thirty 30 years beginning on the 1st day of Aplil, <br /> <br />1997, and ending the 31st day of March, 2027. <br /> <br />, <br />.' <br /> <br />The consideration for this lease and the use and occupancy by Lessee shalt be Lessee's <br /> <br />agreement to perfonn all necess3lY repairs to the existing buildings, structures and other <br /> <br />improvements on the leased premises and to make such additional improvements on the <br /> <br />leased premises to the cxtent offive per cent (5%) of its annual gross receipts, Lessee hereby <br />, <br /> <br />agreeing to expend for such purposcs the sllln herein set out during each year of this <br /> <br />agreement, the total amount to be expended by Lessee for such purposes during the telm of <br /> <br />this lease to be not less than live per cent (5%) of its total gross receipts for the thirty (30) <br /> <br />year peliod covered by this agreement; provided however, that in the event Lessee expends <br /> <br />-1- <br /> <br />, <br /> <br />E.>~HJBIT A <br /> <br />.f' <br /> <br />! <br />. , <br />" <br /> <br />'..: <br />I.. <br /> <br />,.... <br />'''. <br /> <br />j' I <br />.[1'. <br />:1, '[,II <br />