|
<br />_,~',H"""._'-'~"".""""_ .........~.....~..'-. .~. .......~~..,' ,;,'~~-'.-..~---."" .".
<br />
<br />/'
<br />
<br />STATE OF TEXAS
<br />COUNTY OF LAMAR
<br />
<br />LEASE AGREEMENT
<br />
<br />THIS LEASE AGREEHENT(LEASE) Eor the letting oE real property
<br />is executed in duplicate originals by the RED RIVER VALLEY FAIR
<br />ASSOCIATION, A CORPORATION (Les.or), and the LAMAR COUNTY YOUNG
<br />FARMER CHAPTER (Les"ee), on the 1st day of December, 1992.
<br />The leased premises knuwII to all as the YO\lng Farmer Tractor
<br />Pull Grounds, said property owned by the City of Paris and
<br />located on lalld also known as the Lamar County Fair Grounds, more
<br />fully described and drawn in Exhibit llAIl attached and made a part
<br />of this LEASE AGREEMENT.
<br />The term of this LEASE AGREEMENT is for beginning
<br />upon execution of this LEASI, AGREEM8NT and en-dT~'g----
<br />
<br />---:[;'-con-s:Cflc-l=-il-C.Co'n of the leasing anJ letting u[ s3id premises
<br />and the use and occupancy thereof by Lessee, Lessee agrees to
<br />effect and perform repairs to existing buildings, structures, and
<br />other improvements and to make additional improvement on the
<br />leased premises to the extent of five (5) percent of its total
<br />gross receipts for the term of this lease; provided however, that
<br />in the event Lessee expends in excess of five percent of its
<br />gross receipts during allY OIIC year llcrcor (or SUCll purI>oses, such
<br />excess may be credited 011 tIle tutal amount to be expended by
<br />Lessee hereunder. The term !'gross receipts" shall mean the total
<br />receipts of L~ssec from nll sources by r~ason uf tIle use of the
<br />leased premises.
<br />In consideration whereof, it is mutually agreed by and
<br />between Lessor and Lessee, (t.) that Lessee will. at its sole
<br />cost and cXI>~nse, effect repairs to all existing buildings and
<br />structures on the leased premises, as speedily as it can finance
<br />same, so that same \/111 be safe 811<1 suitable fur the purposes for
<br />which they may be used by Lessee, and will keep and maintain same
<br />in good, safe and sanitary condition; (2) that Lessee, for the
<br />benefit of Lessor, if available will keep all permanent buildings
<br />and other insurable improvements on the leased premises insured
<br />against loss by fire, liglltning, und all risks included ill the
<br />term 'lextellJcd coverage'! carried witll a respunsIble cornpallY; (3)
<br />that Lessee wili pay for all lights, water, heat, and/or other
<br />utilities used 'by it on the leased premises; (4) that all
<br />buildings, structures, additions, fixtures, and improvements made
<br />upon the leased property are the property of the Lessee; (5) that
<br />upon tile termination of this LEASE by either party, tile Lessee
<br />will have 130 days to remove any and all improvements and Lessee
<br />will return the property to its original, un-improved condition,
<br />as it was received prior to the 25th day of July, 1985, with the
<br />exception that Lessee will not remove boundary line fencing; (6)
<br />that any remaining improvements following the 180 days will
<br />become the property of the City of Paris; (7) that Lessee agrees
<br />to indemnify, save, keep und hold harmless Lessor frum and
<br />against any and all demands, debts, liabilities, suits, claims,
<br />and causes of action of every kind and character whatsoever for
<br />damage or injuries to persons and/or property occurring on the
<br />l~ased premises ur arisillg from or in cunnuction witll the use,
<br />occupancy Dnd control of same by Lessee; and Lessor shall not be
<br />liable to Lessee, its employees, invi,tees. patrons. licensees, or
<br />visitors due to the buildings or other structures thereon being
<br />improperly cons~ructed or ~ecominc out of repair, lessee hereby
<br />waivin~ any dcfectti'= therein nnd agreeing to hold and save Lessor
<br />harmless from all claims for any such dnmages or injuries, (8)
<br />
|