10 - Red River Valley Veterans Memorial Lease Amendment

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LEASE 1. Lease of Land. LESSOR does hereby lease, demise and let unto LESSEE a 0.9022 acre tract of land from the George W. Cox Survey Number 16:4, Paris, Lamar County, Texas, more particularly described by metes and bounds in Exhibit "A" attached hereto and incorporated herein by reference (the "Land"). LESSEE hereby leases the Land finm LESSOR 2. Term. The initial term of this ground Lease shall be for a period of nine (99) years commencing on the 1 day of , 2011, and ending on the ,:2� day of 2110 (the "Initial Term"). Thereafter, this Lease shall automatically renew and be extended for successive ten (10) year terms, unless either party to the Lease provides written notice to the other party of their desire to terminate said Lease. Absent the occurrence of an Event of Default, as set out in Paragraph S of this Agreement, neither party may terminate this Lease for convenience except upon providing the other party six months prior written notice of termination. 3. Covenants of LESSOR. A. LESSOR is the owner of the Land and has right to make this Lease. B. LESSOR covenants and agrees that LESSEE shall quietly have and enjoy the Land and any improvements thereon during the Terni of this Lease, without hindrance or molestation by LESSOR or any person or entity claiming by, through or under LESSOR. C. LESSOR acknowledges that LESSEE shall have the right during the Term of this Lease to develop and construct the Red River Valley Veterans Memorial (the "Memorial") on the Land, subject to and contingent upon LESSEE satisfying the covenants and the other requirements and conditions contained in this Lease. 4. Covenants of LESSEE. A. LESSEE shall construct and develop the Memorial in accordance with the site plan and concept drawing attached hereto and incorporated herein as Exhibit "B", as same may be amended and approved by LESSOR. Any amendments or additions to the site plan or concept drawing referenced above must be submitted in writing to LESSOR for review and approval before building or construction permits will be issued. LESSOR shall have sixty (60) days from receipt of a complete submittal from LESSEE, to either approve or reject any such submission. B. LESSEE agrees to comply with all applicable City ordinances and regulations in developing and constructing the Project. LESSEE further agrees to comply with all building codes and all State or Federal rules or regulations applicable to the development of the Memorial. .. ,n........._.... � �.._... .��....�. w.w. , Red River Valley Veterans Memorial Lease Page 2 of 16