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<br />OFFER OF OPTION <br /> <br />STATE OF TEXAS <br /> <br />~ <br />~ <br />~ <br /> <br />KNOW ALL MEN BY THESE PRESENTS: <br /> <br />COUNTY OF LAMAR <br /> <br />That the City of Paris, Paris, Lamar County, Texas, a <br /> <br />municipal corporation, hereinafter called CITY, acting by and <br /> <br />through its Mayor, George Fisher, duly authorized, does <br /> <br />hereby give and grant an option to purchase 60 acres of Lake <br />Crook property fronting on FM 1499, to Paris Industrial <br /> <br />Foundation, Inc., or assigns, hereinafter called PIF, Upon <br /> <br />the following terms and conditions: <br />1. Upon such consideration as permitted by the laws of <br />the State of Texas and the Charter of the City of Paris. <br /> <br />2. <br /> <br />The <br /> <br />conveyance <br /> <br />of <br /> <br />such <br /> <br />property <br /> <br />would <br /> <br />be <br /> <br />conditioned Upon its use being for the location of a fish <br /> <br />hatchery and research facility, to benefit the citizens of <br /> <br />Texas through <br /> <br />the State of Texas Parks and Wildlife <br /> <br />discontinuance of its use for such purpose. <br /> <br />Department, and would revert to the City of Paris upon the <br /> <br />3. This option shall expire upon the 30th day of <br /> <br />Apr i 1, 1993, and mus t be accepted on or before November 1, <br /> <br />1992. <br /> <br />September, 1992. <br /> <br />Witness its hand at Paris, Texas, this 24th day of <br /> <br />EXHIBIT A <br />