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<br />FIRST AMENDED
<br />LEASE AGREEMENT
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<br />COUNTY OF LAMAR
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<br />KNOW ALL MEN BY THESE PRESENTS:
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<br />STATE OF TEXAS
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<br />THIS LEASE AGREEMENT is made this 7th day of November, 1996, by and between
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<br />the CITY OF PARIS, PARIS, TEXAS, a municipal corporation, acting by and through its City
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<br />Manager, Michael E. Malone, duly authorized, hereinafter referred to as LESSOR, and LOMA
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<br />ALTO CORPORATION, 6210 N. Central Expressway, Dallas, Dallas County, Texas, acting by
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<br />and through Larry Ferguson, duly authorized, RUSSELL GIFFORD, 2915 Margaret Street, Paris,
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<br />Lamar County, Texas, and BILLY WINTERS and wife, DONNA WINTERS, 1825 F.M. Road
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<br />195, Paris, Lamar County, Texas, hereinafter referred to as LESSEES.
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<br />WITNESSETH
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<br />For and in consideration of the repair and renovation of the leased premises shown in
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<br />Exhibit "A", attached hereto, and the sum of Twelve Thousand and no/lOO Dollars ($12,000.00)
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<br />payable to the CITY OF PARIS, a municipal corporation, as follows: $100.00 on or before
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<br />August 1, 2004, with a like payment on or before the 1st day of each month thereafter during the
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<br />remainder of the term hereof; the CITY OF PARIS does hereby lease, rent, and let unto LOMA
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<br />ALTO CORPORATION the south hangar space shown on Exhibit "A", unto RUSSELL
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<br />GIFFORD the center hangar space shown on Exhibit" A", and unto BILLY WINTERS and wife,
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<br />DONNA WINTERS, the north hangar space shown on Exhibit "A", which said hangar is located
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<br />on that portion of Cox Field property described in Exhibit "B", attached hereto and made a part
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<br />hereof for all legal purposes.
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<br />The term of this Lease is THIRTY-FIVE (35) years, beginning on the 1st day of August,
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<br />1979, and ending on the 31st day of July, 2014.
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<br />It is further agreed to by LESSOR and LESSEES that LESSEES shall have the option to
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<br />renew such Lease for an additional period of FIVE (5) years, the rental for the renewal to be
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<br />based on either $.06 per square foot or the fair market value at the time of exercising such first
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<br />option, whichever is greater, payable to the CITY OF PARIS, a municipal corporation, as
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<br />follows: The amount determined at the time of the exercising of the first option is payable on or
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<br />before the 1st day of August, 2014, with a like payment on or before the 1st day of each month
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<br />Lease Agreement - page 1
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<br />EXHIBIT A
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