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<br />RESOLUTION NO. 94-032 <br /> <br />WHEREAS, the Red River Valley Fair Association, Inc. has requested the <br />city Council of the City of Paris, to subordinate its landlord's lien upon a 0.24 acre <br />lot upon which a 40 foot by 100 foot combination exhibit and office building is to <br />be constructed which lot is near Center Street upon fairground property heretofore <br />leased to Red River Valley Fair Association, Inc., as authorized in Resolution No. <br />87-006, with its term extended as authorized in Resolution No. 89-036, each of the <br />City of Paris; and, <br /> <br />WHEREAS, the City of Paris wishes to continue to encourage the Red River <br />Valley Fair Association, Inc., to improve the fairground property by construction of <br />new buildings and is therefore agreeable to subordinate its landlord lien as requested, <br />upon the terms and conditions described in the form of the Subordination Agreement <br />attached hereto as Exhibit A; NOW, mEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />PARIS, that the Mayor of the City of Paris, George Fisher, be, and he is hereby <br />authorized and directed to execute on behalf of the City of Paris, the Landlord's <br />Subordination Agreement in favor of the First National Bank of Paris, Paris, Texas, <br />upon the terms and conditions and in the form attached hereto as Exhibit A. <br /> <br />PASSED AND ADOPTED this 11th day of April, 1994. <br /> <br /> <br />ATTEST: <br /> <br /> <br />Mattie Cunningham, City Cl <br /> <br /> <br />S TO FORM: <br />