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<br />to renew and extend this lease for an additional period of <br /> <br />five (5) years from and after the expiration of this agree- <br /> <br /> <br />ment, for and in consideration of the sum of $15,000.00 <br /> <br /> <br />payable in equal annual installments of $3,000.00 each, the <br /> <br /> <br />first of which will be due and payable on or before August <br /> <br /> <br />1, 1993, with a like payment being due and payable on or <br /> <br /> <br />before the 1st day of August of each year thereafter during <br /> <br /> <br />the term of said five year option period. Said option may <br /> <br /> <br />be exercised by CLEMENT's giving notice in writing of <br /> <br />CLEMENTS's intention to renew said lease on or before the <br /> <br />1st day of March, 1993. <br />Executed on this 21st day of July, 1988. <br /> <br />CITY OF PARIS <br /> <br />ATTEST: <br /> <br />BY: <br />Eric S. Clifford, Mayor <br /> <br />. "., <br /> <br />.~'., <br /> <br />Mattie Cunningham, City Clerk <br /> <br />APPROVED AS TO FORM: <br /> <br />Kyle Clement, LESSEE <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 instrument, and acknowledged to me that he <br />executed the same for the purposes and consideration therein <br />expressed and in the capacity therein stated. <br /> <br />r.TVRN lTl'JnRR MY HANn ANn C:RAT, OF OFFH':R rhi" <br /> <br />rI"v <br />