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<br />6. In the event LESSEE shall keep each and every agreement contained herein and do <br /> <br />and perform all the obligations required of it hereunder during the term of this lease, LESSOR <br /> <br />grants to LESSEE the first right to renegotiate an extension of this Lease, which right may be <br /> <br />exercised by LESSEE giving notice, in writing, of its intention to renegotiate an extension of <br /> <br />said Lease thirty (30) days prior to the expiration of the primary term hereof. <br /> <br />7. All notices provided for herein must be made by registered or certified mail, return <br /> <br />receipt requested, to the following addresses: <br /> <br />If Lessor: <br /> <br />Richard and Betty Margraves <br />Rt. 6, Amherst Road, Box 800 <br />Paris, IX 75462 <br /> <br />If Lessee: <br /> <br />Michael E. Malone, City Manager <br />City of Paris <br />P. O. Box 9037 <br />Paris, IX 75461-9037 <br /> <br />8. The terms of this Lease are binding on and the benefits herein inure to the heirs, <br /> <br />administrators and executors of LESSOR and the successors and assigns of LESSEE. <br /> <br />EXECUTED ON the dates shown in the acknowledgements below. <br /> <br />LESSOR <br /> <br />By: <br /> <br />Richard Margraves <br /> <br />By: <br /> <br />Betty Margraves <br /> <br />CITY OF PARIS, PARIS, TEXAS, <br />LESSEE <br /> <br />By: <br /> <br />Eric S. Clifford, Mayor <br /> <br />3 <br />