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of Faris, Texas. <br />N. LESSEE shall designate two authorized representatives as the primary contact <br />persons for the Memorial. LESSEE agrees to coordinate any special events to be held at the <br />Memorial Park with LESSOR LESSEE acknowledges and agrees that all parking areas serving <br />the Civic Center property are owned and managed by LESSOR and LESSOR shall have first <br />priority use of all parking areas. <br />5. Events of Default. That the following events shall be deemed to be events of default <br />by LESSEE under this Lease: <br />A. Failure of LESSEE to comply with any term, condition, or covenant of this <br />Lease, if such failure shall not be cured within sixty (60) days following written notice thereof to <br />LESSEE. <br />B. Insolvency, the making of a transfer in fraud of creditors, or the making of an <br />assignment for the benefit of creditors by LESSEE or any guarantor of LESSEE's obligations. <br />Filing of a petition under any section or chapter of the National Bankruptcy Act, as amended, or <br />under any similar law or statute of the United States or any State thereof by LESSEE or any <br />guarantor of LESSEE's obligations, or adjudication as a bankrupt or insolvent in proceedings filed <br />against LESSEE or such guarantor. <br />C. Appointment of a receiver or trustee for all or substantially all of the assets of <br />LESSEE or any guarantor of LESSEE's obligations. <br />D. Abandonment by LESSEE of any substantial portion of the Land or leased <br />premises or cessation of use of the Land or leased premises for the purposes stated in this Lease <br />Agreement. <br />E. The filing of any lien against the Land or leased premises by any third party <br />resulting from any act or omission of LESSEE which is not discharged, paid in full and/or <br />contested in good faith as determined by LESSOR by proper legal proceedings within thirty (30) <br />days of receipt of actual notice by LESSEE, unless LESSEE posts a bond within this time period <br />equal to the amount of the lien and which generates a release of said third -party lien. <br />F. In the event of any default by the LESSEE that is not cured within sixty (60) <br />days of receiving written notice from LESSOR, LESSOR may, in addition to any other remedies <br />available to it, terminate this Lease. <br />6. In addition to the termination and forfeiture rights described in the preceding <br />paragraph, LESSOR shall have the following rights and remedies upon default by LESSEE: <br />Red River Valtey Veterans Memorial Lease ......_, . Page 5 of 16 <br />