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GRAND THEATER MANAGEMENT LEASE AGREEMENT:
<br />Superseding and Amending Lease Agreement Dated August 31, 2018
<br />This Grand Theater Management LEASE Agreement (hereinafter LEASE), which supersedes and
<br />amends the Grand Theater Agreement between the Parties dated August 31, 2018 (hereinafter the Original
<br />Lease) shall be between the City of Paris, Texas, a home rule municipal corporation of the State of Texas
<br />(hereinafter CITY), and the Paris Grand Theater Project, Inc., a 501(c) (3) not-for-profit corporation
<br />(hereinafter PROJECT), which in consideration of the mutual covenants, agreements, stipulations, and
<br />payments, do hereby contract and agree as follows. CITY and PROJECT sometimes are referred to herein
<br />collectively as the "Parties" or singularly as a "Party."
<br />RECITALS
<br />WHEREAS the goal of the Paris Grand Theater Project is to advocate for, assist in, and lead the
<br />refurbishment, promotion, and operation of the historic Grand Theater in Paris, Texas, bringing it back for
<br />the enjoyment and economic, educational, and cultural benefit of citizens of the community and visitors to
<br />the area; and
<br />WHEREAS, the objectives of the Paris Grand Theater are: to identify, organize, and unify diverse groups
<br />and individuals into one group focused on refurbishing and revitalizing the Grand Theater; the establishment
<br />of a multi-level and multi-year fundraising program to acquire financial donations, gifts -in-kind,
<br />endowments, grants, and other monetary resources; to design a venue that both pays homage to the rich
<br />history of the Grand Theater, and creates opportunities for new activities and events; to promote the Grand
<br />Theater to a wide variety of performers, acts, activities, organizations, and events; and to leverage the
<br />potential of the Grand Theater to better market the city of Paris, Texas; and
<br />WHEREAS, the City of Paris is the owner of the Grand Theater, and CITY is in full support of the goals
<br />and objectives of the Paris Grand Theater Project; and
<br />WHEREAS, on August 31, 2018, the Parties executed an original lease agreement which the Parties have
<br />agreed to revise and amend; and
<br />WHEREAS, this Lease shall supersede the Original Lease in its entirety as well as any other agreements
<br />between the parties;
<br />CITY hereby agrees to LEASE the Grand Theater to PROJECT, and PROJECT agrees to LEASE said
<br />Theater from CITY, on the terms and conditions set forth herein below.
<br />AGREEMENT
<br />NOW, THEREFORE, for the sum of $10 a year, due and payable on or before January 3 V of each year of
<br />the Term, and in consideration of the recitals set forth above and the mutual covenants and agreements
<br />contained herein and for other good and valuable consideration, the receipt and sufficiency of which are
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