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<br />In the event that final tcrmination of said Lease occurs during the second option, there
<br />
<br />shall be no payment duc LESSEES. However, the City of Paris may agree to give LESSEES
<br />
<br />hangar space of equal quality, size and usefulness, and LESSEES are granted the right to lease
<br />
<br />such substitute space for TEN (10) years, at a rental rate to be based on either $.06 pcr square
<br />
<br />foot or the rail' market value at the time or the exercising or the option, whichevcr is grcatcr.
<br />
<br />20. The terms of this Lease arc binding on, and the benefits herein inure to, the heirs,
<br />
<br />administrators and executors of LESSEES.
<br />
<br />EXECUTED ON the dates shown in acknowledgements below.
<br />
<br />CITY OF PARIS, LESSOR:
<br />
<br />By:
<br />
<br />
<br />ATTEST:
<br />
<br />
<br />
<br />Ltr W. J~vJ
<br />
<br />Billy w.~llcrs
<br />
<br />U-r{M-, ~. ult;,J4,)
<br />
<br />Donna 1. Winters
<br />
<br />STATE OF TEXAS
<br />
<br />COUNTY OF LAMAR
<br />
<br />BEFORE ME, the undersigned authority, on this day personally appeared MICHAEL
<br />E. MALONE, City Manager of the City of Paris, Paris, Texas, known to mc to be the person
<br />whose name is subscribed to the forcgoing instrument, and acknowledgcd to me that hc executed
<br />the ~al1lc lor the purposes and consideration therein expressed and in the cap:lcity therein staled,
<br />
<br />(' t.t H'f.fl" rt;:.,,,,,, u rTt/'" " "I"~_rp.,'.::TJ;rUJ 'TU 'F
<br />
<br />i.".",,,.,,,,,,.. All!'r r.A LJI/l^'L-IO ~
<br />I l\~"I":~II.;~,~ IJl m. r ~H N
<br />)1 t'7~n IlolJrY Mlic, Slalc of Texas ~
<br />.<1/", \;~~/ My Cor,lIniSlio!l bpllcs o,-noo]ij
<br />-'/111Ifl11
<br />\., III Ir '\',n;flr:l " O.r::t"t.t..l.l";tXl.U-I"o--01..:.l.UlnT.l:J:\D:'-
<br />
<br />lit
<br />GIVEN UNDER MY HAND AND SEAL OF OFFICE this the jJ{'day of February,
<br />
<br />I {JI ;J. . f."h<
<br />, '. / {~'I
<br />1 7 . {Ij 1. ..A_/.I (( _, _>(..'
<br />Notary Public, State of Tcxas
<br />
<br />1996.
<br />
<br />Lease ^~rrclllellt - page 7
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