10 - Red River Valley Veterans Memorial Lease Amendment

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FIRST AMENDMENT OF LEASE AGREEMENT BETWEEN CITY OF PARIS, TEXAS AND RED RIVER VALLEY VETERANS MEMORIAL, INC. This First Amendment of Lease Agreement, is entered into by and between The City of Paris, Texas, a home -rule municipality, whose address is P.O. Box 9037, Paris, Texas 75461 (hereinafter "LESSOR") and Red River Valley Veterans Memorial, Inc., a Texas Non -Profit Corporation, 296 CR 43330, Paris, Texas 75467 (hereinafter "LESSEE"). RECITALS WHEREAS, on February 28, 2011, LESSOR entered into a long term ground lease agreement with LESSEE covering a 0.9022 acre tract of land out of the Love Civic Center Tract to develop the Red River Valley Veterans Memorial to honor U.S. Military Veterans from the Red River Valley. WHEREAS, LESSEE now wishes to lease an additional .9022 acre tract from LESSOR adjacent to and east of the original leased parcel to expand the Memorial and add new features which will subsequently be designed and presented to LESSOR for approval in accordance with the terms of the Lease Agreement. WHEREAS, LESSOR and LESSEE hereby agree to amend the Lease Agreement dated February 28, 2011 by adding a .9022 acre parcel adjacent to and located east of the original parcel, the additional parcel being further described by metes and bounds in the legal description attached hereto as Exhibit "A" ("Additional Premises"). NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: SECTION ONE. ADDITIONAL PREMISES LESSOR hereby leases to LESSEE and LESSEE accepts from LESSOR that additional .9022 acre parcel located adjacent to and east of the existing leased parcel as more particularly described in the metes and bounds description attached hereto as Exhibit "A" ("Additional Premises"). The additional premises are leased on the same terms and provisions as are contained in the Lease Agreement, except as otherwise provided in this First Amendment to Lease Agreement. SECTION TWO. BINDING EFFECT The Lease Agreement dated February 28, 2011, as amended by this First Amendment of Lease Agreement, shall continue in full force and effect subject to the terms and provisions of the Lease Agreement and this First Amendment of the Lease Agreement. This First Amendment shall bind and inure to the benefit of LESSOR and LESSEE and their respective successors and permitted assigns. In the event of any conflict between the terms, covenants, and conditions of the Lease Agreement and the terms, covenants, and conditions of this amendment, the terms, covenants, and conditions of this First Page I of 3