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<br />GROUND SUBLEASE AGREEMENT <br /> <br />. SUBLESSOR: RED RIVER VALLEY <br />FAIR ASSOCIATION INC. <br /> <br />SUBLESSEE: PARIS RODEO <br />AND HORSE CLUB <br /> <br />Table of Contents <br /> <br />Page <br /> <br />preamble--parties. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . 1 <br />DEMISE AND. DESCRIPTION OF PROPERTY 1 <br />ARTICLE I. TERM 1 <br />#1.01. Term of Sublease....................... I <br />#1. 02. Option to Extend Term. .. . . . .. ... .. .. .. . 2 <br />#- 1 . 03. _Holdover............................... 2 <br />ARTICLE 2. RENT 2 <br />#2.01. Consideration.......................... 2 <br />#2.02. Gross Receipts Defined................. 3 <br />#2.03. Statement of Gross Receipts............ 3 <br />#2.04. Books and Records of Sublessee......... 4 <br />ARTICLE 3. USE OF PREMISES 4 <br />#3.01. Primary Purpose........................ 4 <br />#3.02. Illegal Use Not Permitted.............. 4 <br />#3.03. Waste and Nuisance..................... 4 <br />ARTICLE 4. UTILITIES 5 <br />ARTICLE 5. REPAIRS, MAINTENANCE, AND RESTORATION 5 <br />#5.01. Lessee's Duty to Maintain and Repair... 5 <br />#5.02. Damage or Destruction.................. 5 <br />ARTICLE 6. MECHANICS' LIENS 5 <br />ARTICLE 7. INSURANCE AND INDEMNIFICATION 6 <br />#7.01. Insurance on Buildings and Improvements 6 <br />#7.02. Liability Insurance.................... 6 <br />#7.03. Construction Liability Insurance....... 7 <br />#7.04. Certificates of Insurance.............. 7 <br />#7.05. Indemnification of Sublessor........... 7 <br />ARTICLE 8. TAXES 7 <br />#8.01. Payment by Sublessee................... 7 <br />#8.02. Payment by Sublessor................... 8 <br />ARTICLE 9. CONSTRUCTION BY SUBLESSEE 8 <br />#9.01. Ownership of Buildings, Improvements, <br />and Fixtures........................... 8 <br />#9.02. Right to Remove Improvements........... 8 <br />#9.03. Removal Restriction.................... 9 <br />ARTICLE 10. SUBLEASE 9 <br />#10.01. Subletting by Sublessee............... 9 <br />ARTICLE II. DEFAULT AND REMEDIES 9 <br />IIl.OI. Termination on.Termination............ 9 <br />#11.02. Waiver of Breach...................... 9 <br />tlll.03. Possession after Default.............. 10 <br />ARTICLE 12. SPECIAL PROVISIONS 10 <br />112.01. Possession of Subleased Premises <br />by Sublessor.......................... 10 <br />112.02. Advertisement Prohibition............. 10 <br />112.03. Use of Additional Premises by <br /> <br />EXHIBIT A <br />