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AMENDMENT TO LEASE AGREEMENT <br />Between the City of Paris (Lessor) and Carey Eatherly and Ryan Eatherly (Lessees) <br />Cox Field Pasture Lease <br />RECITALS <br />WHEREAS, Lessor and Lessees are the parties in a Lease Agreement (the Lease) attached <br />hereto as Exhibit B and incorporated herein by reference relating to the lease of a 698.9 acre tract <br />of property (Leased Property or Premises), which is a portion of an approximately 1552 acre tract <br />in the southeast quadrant of the city owned by the City of Paris, Texas and known as Cox Field <br />Airport (the Airport Property); <br />WHEREAS, the term of said Lease is from May 15, 2012 through May 14, 2032 with the <br />possibility of an additional ten (10) year renewal period if mutually agreed by the parties; and <br />WHEREAS, the property is to be used as pastureland for grazing of livestock; and <br />WHEREAS, Section 5.1 of the Lease provides that upon written notice, Lessor may at its <br />sole option terminate the ease as to the entire Premises, or any portion thereof, for airport <br />expansion, such as extension of runways or taxiways or the development of other airport facilities; <br />and <br />WHEREAS, Section 5.1 further provides that upon exercise of this provision, Lessees' <br />rental fee shall be reduced on a pro rata basis at the rate of $15.00 per acre; and <br />WHEREAS, Lessor has determined that it is necessary to remove 96.59 acres from the <br />Leased Property to accommodate expansion of airport facilities and private development of <br />hangars and the necessary taxiways and infrastructure to support same; <br />NOW, THEREFORE, THE LEASE AGREEMENT IS HEREBY AMENDED AS <br />FOLLOWS: <br />1. RECITALS: The following paragraph shall be added between the second and third <br />paragraphs: <br />WHEREAS, effective May 12, 2025, the Lease Property was reduced by 95.59 acres to <br />602.31 acres pursuant to Sec. 5.1 herein; and <br />2. Section 1.2, Leased Property, shall be amended to read as follows: <br />Sec. 1.2 Leased Property. Approximately 602.31698-.9 acres of land out of the Airport <br />Property in the City of Paris, Lamar County, Texas as further depicted in the Aerial Map of <br />the Airport Property contained in Exhibit "A" attached hereto and incorporated herein by <br />reference. <br />