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<br />STATE OF TEXAS <br /> <br />s <br /> <br />LEASE NO. <br /> <br />COUNTY.OF LAMAR S <br /> <br />GROUND LEASE <br /> <br />This Lease Agreement is made this 12th day <br />of June , 19~, by and between City of Paris, by it.s City <br />Manager, Michael E. Malone , hereinafter called "Lessor" <br />and BAILEY-STERLING'- OUTDOOR ADVERTISING, a Texas general <br />partnership, hereinafter called "Lessee". <br />Lessor does hereby lease and demise unto Lessee <br />that area and airspace, hereinafter called "Site", and more <br />fully described on Exhibit "A", attached hereto, neeeisary for <br />the: construction, erection and maintaining of one sign structure <br />with advertising space of a size of 10'x30' , located upon <br />the property belonging to Lessor described on Exhibit "A", <br />attached hereto, for a term of ten (10) years for a <br />consideration of 'I'h,..pp Hllnd,..ed and No/100 ($300 00) Dollars , to <br />be paid/~~Rft2xi~ upon the conditions and covenants as follows: <br />y a Y1. Lessor represents that he is the owner of <br />this property and warrants that he has full authority to enter <br />into this lease. <br />2. It is the understanding of the parties <br />hereto, that visibility of this sign face Is) to the traveling <br />public is of the essence and forms a significant element of the <br />consideration underlying this Lease Agreement. Lessor, therefore <br />agrees to refrain from causing or permitting if at any time, in <br />the opinion of the Lessee, the sign face(e) is entirely or <br />partially . obscured, of if automotive traffic is diverted or <br />decreased so as to impair the advertising value of the location, <br />or if Lessee is prevented by authorities having jurisdiction <br />from constructing or maintaining said sign structure, Lessee <br />shall have the right to terminate this lease upon fifteen days <br />notice in writing to Lessor. <br />3. In the event that this Lease Agreement is <br />ever terminated, Lessor shall refund to Lessee, within thirty <br />days, any unearned rental paid in advance to Lessor. <br />4. Lessee and its authorized agents are <br />hereby granted the right of ingress and egress to and from said <br />Site over property owned or controlled by Lessor for the purpose <br />reasonably necessary for the erection, maintenance, changing, or <br />removal of said sign structure. <br />5. Lessor hereby grants to Lessee the right <br />to establish or provide electrical power to said sign structure, <br />and the right to sublet said Site, or to assign this Lease. <br />6. Neither Lessor nor Lessee shall be bound <br />by any agreement or representation expressed or implied not <br />contained herein. Following acceptance of this lease by both <br />parties, it shall inure to the benefit of and be binding upon <br />the parties hereto and their respective tenants, heirs, <br />successors, personal representatives, executors, administrators <br />and assigns. <br />7. It is agreed that all structures, <br />equipment, materials and fixtures placed on said property shall <br />be and remain the property and trade fixtures of Lessee, and <br />