1995-083-RES WHEREAS, CITY COUNCIL DID HERETOFORE ON THE 8TH DYA OF MAY 1995 the City Council of the City of Paris did heretofore, on the 8th day of May, 1995, pass

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LEASE AGREEMENT STATE OF TEXAS ) ) COUNTY 01<' LAMAR ~ ) LEASE AGREEMENT between the CITY OF PARIS, PARIS, TEXAS, a municipal corporation, acting by and through its Mayor, Eric S. Clifford, duly authorized, hereinafter referred to as LESSOR, and OUTDOOR DISPLAYS, INC., acting by and through its President, Henry Walls, duly authorized, hereinafter referred to as LESSEE, WITNESSETH For and in consideration of the payment of the sum of SEVEN HUNDRED FIFTY AND NO/lOO DOLLARS ($750.00), payable to the CITY OF PARIS, a municipal corporation, as follows: $600.00 rent for July I, 1993, through June 30, 1995, payable on or before July I, 1995, and $150.00 rent for July I, 1995, through December 31, 1995, on or before July I, 1995; said CITY OF PARIS does hereby lease, rent and let unto OUTDOOR DISPLAYS, INC. the east side of that certain property located on Lot 6, City Block 276. 1. TERM The term of this lease is for six (6) months, beginning on the 1st day of July, 1995, and ending on the 31st day of December, 1995, at which time and on which date the same shall terminate, unless sooner terminated as herein specified and provided, during which time LESSEE may and shall use the same for the purposes of constructing, erecting, building and maintaining a 12' x 24' stack advertising structure and supports thereon, together with the right to bill-post and service advertisements upon said structure, and for no other purpose. 2. OPTION It is further agreed to by LESSOR and LESSEE that LESSEE shall have the option to renew such Lease for an additional period of six (6) months, the rental for the renewal to be based on the fair market value at the time of renewal, being January I, 1996.