1989-037-RES WHEREAS, THE RED RIVER VALLEY FAIR ASSOCIATION REQUESTED CITY COUNCIL

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. . RESOLUTION NO. 89-037 WHEREAS, the Red River Valley Fair Association, Inc., has requested the City Council of the City of Paris, to subordinate its landlord's lien upon a 0.41 acre lot upon which a poultry barn is to be constructed which lot is near the intersection of 6th Street N.E. and Hickory Avenue, and upon the existing exhibits building, being a 0.21 acre lot located near the intersection of 6th Street N.E. and Center Street, upon the fairground property heretofore leased to Red River Valley Fair Association, Inc., as authorized in Resolution No. 87-006, with its term extended as authorized in Resolution No. 89-036, each of the City of Paris; and, WHEREAS, the City of Paris wishes to continue to encourage the Red River Valley Fair Association, Inc., to improve the fairground property by construction of new buildings and is therefore agreeable to subordinate its landlord lien as requested, upon the terms and conditions described in the form of the Subordination Agreement attached hereto as Exhibit A; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, That the Mayor of the City of Paris, Eric S. Clifford, be, and he is hereby authorized and directed to execute on behalf of the City of Paris, the landlord's subordination Agreement in favor of the First National Bank of Paris, Lamar National Bank and First Federal Savings and Loan Association of Paris, Paris, Texas, upon the terms and conditions and in the form attached hereto as Exhibit A. Passed and adopted this 10th day of April, ~~~ 1989. -=:> ~'1ayor ATTEST: '~ '\. \.1 ~unn~~ er o FORM: