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<br />LEASE AGREEMENT <br /> <br />COUNTY OF LAMAR <br /> <br />} <br />} <br />} <br /> <br />KNOW ALL MEN BY THESE PRESENTS: <br /> <br />STATE OF TEXAS <br /> <br />LEASE AGREEMENT BETWEEN THE CITY OF PARIS, a municipal corporation, <br /> <br />acting by and through its City Manager, Michael E. Malone, duly authorized, hereinafter <br /> <br />referred to as LESSOR, and LARRY RICHARDSON, Rt. 4, Box 94, Paris, Lamar County, <br /> <br />Texas 75462, hereinafter referred to as LESSEE, <br /> <br />WITNESSETH <br /> <br />For and in consideration of the payment of the sum of THREE THOUSAND FIVE <br /> <br />HUNDRED AND NO/lOO DOLLARS ($3,500.00), payable to the CITY OF PARIS, a <br /> <br />municipal corporation, as follows: $250.00 on or before February 1, 1995, with a like payment <br /> <br />on or before the 1 st day of each month thereafter during the remainder of the term hereof, said <br /> <br />CITY OF PARIS does hereby lease, rent and let unto LARRY RICHARDSON that certain <br /> <br />property located on part of Lots 6 and 7, City Block 251A, being number 1231 N. Main Street, <br /> <br />Paris, Texas, more fully described on Exhibit A, attached hereto and made a part hereof. <br /> <br />1. TERM <br /> <br />The term of this lease is for fourteen (14) months, beginning on the 1 st day of February, <br /> <br />1995, and ending on the 1st day of April, 1996, at which time and on which date the same shall <br /> <br />terminate, unless sooner terminated as herein specified and provided, during which time <br /> <br />LESSEE may and shall occupy the same and use the same as a used-car lot, and for no other <br /> <br />purpose. <br /> <br />It is further agreed to by LESSOR and LESSEE that LESSEE shall have the option to <br /> <br />renew such Lease for an additional period of one (1) year, the rental for the renewal to be based <br /> <br />on the fair market value at the time of renewal, being April 1, 1996. <br /> <br />2. RENT <br /> <br />That LESSEE pay to LESSOR, or order, at the City Hall in the City of Paris, the agreed <br />