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<br />further agreeing that the existing exhibits building, all <br />furni ture, furnishings, fixtures and equipment .at any time <br />placed thereon or affixed thereto shall not be integrated <br />into the real estate but will remain personal prop,rty so <br />long as any portion of the loan for the construction of <br />these improvements remain unpaid. <br /> <br />Should Red River Valley Fair Association, Inc., default <br />in payment of the indebtedness contemplated to be created by <br />it in favor of the First National Bank of Paris, Lamar <br />National Bank and First Federal Savings and Loan Association <br />of Paris, for the purpose aforementioned, and if this lender <br />or anyone of them should institute foreclosure or <br />repossession proceedings, the lenders may dismantle the <br />existing improvements and the improvements contemplated by <br />this loan and/or remove it and its contents from the above <br />described tract of land without thereby incurring any kind <br />of obligation to the City of Paris (unless it should, having <br />received ten (10) days prior notice of the intended removal <br />dismantling, elect to and wi thin a reasonable time there- <br />after pay to the First National Bank of Paris, the full <br />amount then owing to it by Red River Valley Fair <br />Association, Inc., principal, interest, court costs, and <br />attorneys fees, if any). Notice of acceptance hereof by the <br />First National Bank of Paris is expressly waived. <br /> <br />Witness the execution hereof in triplicate, this 15th <br />day of May, 1989. <br /> <br />CITY OF PARIS <br /> <br />By: <br /> <br />Eric S. Clifford, Mayor <br /> <br />ATTEST: <br /> <br />Mattie Cunningham, City Clerk <br /> <br />APPROVED AS TO FORM: <br /> <br />T. K. Haynes, City Attorney <br /> <br />STATE OF TEXAS ~ <br />COUNTY OF LAMAR ~ <br /> <br />BEFORE ME, the undersigned authority, on this day <br />personally appeared Eric S. Clifford, Mayor of the City of <br />Paris, known to me to be the person whose name is subscribed <br />to the foregoing instr~ment, and ackn?wled~e? t~ .me :?a~_~= <br />