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<br />SUBORDINATION AGREEMENT <br />STATE OF TEXAS ~ <br />COUNTY OF L~4AR ~ <br /> <br />\.JHEREAS, on the 9th day of Augus t, 1971, the City of <br />Paris, Paris, Texas did grant to AGPRO, Inc. options to <br />lease three tracts of land containing in all approximately <br />410 acres; and, <br /> <br />WHEREAS, AGPRO, Inc. exercised the option <br />for fifteen year period beginning August 14, <br />exercised its option for the remaining 400 <br />concurrent expiration date of Tract One; and, <br /> <br />for Tract One <br />1972 and did <br />acres with a <br /> <br />WHEREAS, on the 12th day of March. 1986, AGPRO, Inc. <br />exercised its option for an additional ten year period <br />beginning August 9, 1986, and ending August 8, 1996; and, <br /> <br />WHEREAS, AGPRO, Inc. subleased to Lone Oak, Inc. which <br />is desirous of placing equipment described on Exhibit A, <br />attached hereto, financed and installed by Mid-America <br />Dairymen, Inc. upon the leased premises and request the City <br />of Paris to subordinate its Landlord's Lien with regard to <br />said equipment; NOW, THEREFORE, <br /> <br />KNOW ALL MEN BY THESE PRESENT: That the City of Paris, <br />Pursuant to a duly adopted resolution of the City of Paris, <br />acting by and through its duly authorized Mayor, Billy Joe <br />Burnett, and attested by the City Clerk, Mattie Cunningham, <br />has and does hereby subordinate in favor of Mid-America <br />Dairymen, Inc., in consideration of its financing and <br />installing the equipment described on Exhibit A, attached <br />hereto, the Landlord's Lien it has and will hold against the <br />equipment described on Exhibit A, attached hereto, by virtue <br />of its lease agreement aforementioned, so that any security <br />agreement or any other security document granting a lien or <br />the right to foreclose upon a lien or the right to take <br />possession and remove from the premises in the event of <br />default by Lone Oak, Inc., the property described on Exhibit <br />A, attached hereto will be a first and prior lien thereon <br />securing the payment of the cost, the installation cost and <br />the financing cost of furnishing and installing equipment <br />described on Exhibit A, attached hereto, not only to the <br />original indebtedness but also all renewals and extensions <br />thereof, partial or otherwise; further agreeing that the <br />equipment described on Exhibit A even though the same be <br />affixed to shall not be integrated into the real estate but <br />will remain personal property so long as any portion of the <br />financed amount for such equipment remains unpaid. <br /> <br />Should Lone Oak, Inc., default in the payment of the <br />indebtedness contemplated to be created by it in favor of <br />Mid-America Dairymen, Inc. for the purpose aforementioned, <br />and if Mid-America Dairymen, Inc. should institute <br />foreclosure or repossession proceedings, it may dismantle <br />the furnished eq~i~ment described on Exhibit A and remove it <br />