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<br />provisions herein contained, written notice thereof t>hall be <br />given to Lessee by Leasor and ill tile eVcllt SUCll default. failure, <br />or refusal has not been corrected or performed witllin ninety(90) <br />days from the date oE such notice, then this LEASE AGREEMENT may <br />be terminated at Lessor's optiol1; (12) that in the event that <br />Lessee shall keep cacll utld every agreement contained herelll and <br />do and perform all the obligations required of it llereundcr the <br />terms of this lease, an~,roption is hereby given and granted to <br />Lessee to renew and extend this LEASE for an additional period vf <br />ten years, from and after the expiration of this agreement; (13) <br />that in the cvutlt Lessor does not exercise its option. or its <br />lease with the City of Paris be terminated for any cause, Lessee <br />shall ttlen nogotiate on agreement directJ.y witll the City of Paris <br />for a new lease without any interference on the part of Lessor. <br />Additionally, in conoideration of the leasing and letting of <br />above said premises to tIle Lessee without comI>cnsation tu the <br />Lessor, Lessee agrees that Lessor will hove the sole use Dlld <br />occupation of tIle soutll end of leased premises ShOWll on Exhibit <br />"A" as IIParklng Aceall roc Lhe term of this LE,ASE AGREEMENT~ That <br />Lessor may make any and all improvements so long as tllci area <br />remains open and its primary use continues aG a parking area for <br />vehicles. Any improvements constructed that would CllQng~ the <br />area from itSuse ;),s pnrking, must have th~ written approval of <br />the Lessee. <br />In witness whereof, tile undersigned Ilavc executed tIlis lease <br />agreement on the 1st Day of December, 1992. <br /> <br />LAMAR COUNTY YOUNG FARMERS <br /> <br />RED RIVER VALLEY FAiR ASSN. <br /> <br />by: <br />--ca-r-l-W-e- ;i:-s-;-- Pr-e-s i-de-Ilt- <br /> <br />by: __u________________________ <br />Steve Glover, President <br />