1997-103-RES WHEREAS, CITY COUNCIL DID HERETOFORE ON THE 11TH DAY OF JULY 1994

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'. . I LEASE AGREEMENT COUNTY OF LAMAR } } } KNOW ALL MEN BY THESE PRESENTS: STATE OF TEXAS LEASE AGREEMENT BETWEEN THE CITY OF PARIS, a municipal corporation, acting by and through its City Manager, Michael E. Malone, duly authorized, hereinafter referred to as LESSOR, and WILLIAM T. BOOTHE, Rt. 2, Box 263, Powderly, Lamar County, Texas, 75473, hereinafter referred to as LESSEE, WITNESSETH For and in consideration of the payment of the sum of TWELVE THOUSAND AND NO/100 DOLLARS ($12,000.00), payable to the CITY OF PARIS, a municipal corporation, as follows: $100.00 on or before August I, 2019, with a like payment on or before the 1st day of each month thereafter during the remainder of the term hereof, said CITY OF PARIS does hereby leasc, rent and let unto WILLIAM T. BOOn'IE, that portion of Cox Field property described in Exhibit.. A", allachcd hereto and made a part hercof for all legal purposes. The term of this lease is for thirty-five (35) years, beginning on the 1st day of August, 1994, and ending on the 31st day of July, 2029. It is further agreed to by LESSOR and LESSEE that LESSEE shall have the option to renew such Lease for an additional period of tcn (10) years, the rental for the rcncwal to be based on the fair market value at the timc of rcnewal, being August 1, 2029. IN CONSIDERATION HEREOF, it is mutually agreed by and between LESSOR and LESSEE: 1. That LESSEE pay to LESSOR, or ordcr, at the City Hall in thc City of Paris, the agreed rental in advancc, promptly and without neglect, default and delay. 2. That this leasc is subject to all the terms. provisions and conditions of the dccd of conveyance of such premises from the United States of America to the City of Paris, recorded in Book 308, Page 287, Deed Records of Lamar County, Texas, to which referencc is made for