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<br />space for TEN (10) years for THIRTY-TWO THOUSAND FOUR HUNDRED AND NO/lOO <br /> <br />DOLLARS ($32,400.00), payable as aforesaid. <br /> <br />In the event that final termination of said Lease occurs during the second option, there shall <br /> <br />be no payment due LESSEE. However, the City of Paris may agree to give LESSEE hangar space <br /> <br />of equal quality, size and usefulness, and LESSEE are granted the right to lease such substitute <br /> <br />space for TEN (10) years, at a rental rate to be based on either $.06 per square foot or the fair <br /> <br />market value at the time of the exercising of the option, whichever is greater. <br /> <br />20. The terms of this Lease are binding on, and the benefits herein inure to, the heirs, <br /> <br />administrators and executors of LESSEE. <br /> <br />EXECUTED ON the dates shown in acknowledgments below. <br /> <br />CITY OF PARIS, PARIS, TEXAS, <br />LESSOR: <br /> <br />By: <br /> <br />Michael E. Malone, City Manager <br /> <br />ATTEST: <br /> <br />Mattie Cunningham, City Clerk <br /> <br />APPROVED AS TO FORM: <br /> <br />T. K. Haynes, City Attorney <br /> <br />LESSEE <br /> <br />Toby Rex Adams <br /> <br />STATE OF TEXAS ) <br />) <br />COUNTY OF LAMAR ) <br /> <br />BEFORE ME, the undersigned authority, on this day personally appeared Michael E. <br />