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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 LAWRENCE C. RUNKE, 480 31st Street S.E., Paris, Lamar <br /> <br />County, Texas, hereinafter referred to as LESSEE, <br /> <br />WITNESSETH <br /> <br />For and in consideration of the payment of the sum of FIFTEEN THOUSAND AND <br /> <br />Nonoo DOLLARS ($15,000.00), payable to the CITY OF PARIS, a municipal corporation, <br /> <br />as follows: $125.00 on or before August 1, 2019, with a like payment on or before the 1st day <br /> <br />of each month thereafter during the remainder of the term hereof, said CITY OF PARIS does <br /> <br />hereby lease, rent and let unto LAWRENCE C. RUNKE, that portion of Cox Field property <br /> <br />described in Exhibit" A", attached hereto and made a part hereof for all legal purposes. <br /> <br />The term of this lease is for thirty-five (35) years, beginning on the I st day of August, <br /> <br />1994, and ending on the 31st day of July, 2029. <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 ten (10) years, the rental for the renewal to be <br /> <br />based on the fair market value at the time of renewal, being August I, 2029. <br /> <br />IN CONSIDERATION HEREOF, it is mutually agreed by and between LESSOR and <br /> <br />LESSEE: <br /> <br />I. That LESSEE pay to LESSOR, or order, at the City Hall in the City of Paris, the <br /> <br />agreed rental in advance, promptly and without neglect, default and delay. <br /> <br />2. That this lease is subject to all the terms, provisions and conditions of the deed <br />