09-E Assignment of Hangar Lease - Laserfiche WebLink

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FIRST AMENDED LEASE AGREEMENT COUNTY OF LAMAR KNOW ALL MEN BY THESE PRESENTS: STATE OF TEXAS TIIIS LEASE AGREEMENT is made this 12th day of February, 1996, by and between the CITY OF PARIS, PARIS, TEXAS, a municipal corporation, acting by and through its City Manager, Michael E. Malone, duly authorized, hereinafter referred to as LESSOR, and BILLY W. WINTERS and DONNA J. WINTERS, IS25 F.M. Road 195, Pads, Lamar County, Texas, hereinafter referred to as LESSEES. WITNESSETH For and in consideration of the construction of hangar at Cox Field Airport, the CITY OF PARIS does hereby lease, rent and let unto BILLY W. WINTERS and DONNA J. WINTERS, that portion of Cox Field property described in Exhibit "A", attached hereto and made a part hereof for all legal purposes. The term of this Lease is for THIRTY-FIVE (35) years, beginning on the 1st day of March, 1996. and ending on the 28th day of February, 2031. It is further agreed to bi LESSOR and LESSEES that LESSEES shaii have the option to renew such Lease for an additional period of TEN (to) years, the rental for the renewal to be in the sum of THIRTY-THREE THOUSAND SIX HUNDRED AND NOIlOO DOLLARS ($33,600.00), payable to the CITY OF PARIS, a municipal corporation, as follows: $280.00 on or before March I, 2031, with a like payment on or before the 1st day of each month thereafter during the remainder of the term of the first option, which cnds February 28, 2041. The granting of said first option is subjcct to the requirements set forth in paragraph 18. It is further agreed to by LESSOR and LESSEES that LESSEES shall have a second option to renew such Lease for a period of TEN (to) years, the rental for the second renewal to be baseu 011 eilher $.06 per square loot or the fair mark~t value at the time ot the exercising of such second option, whichever is greater, payable to the City of Paris, a municipal corporation, as follows: The amount detenllineu at the time of the exercising of the second option is payable on or before the I st day of March, 2041, with a like payment on or before the 1st day of each month thereafter during the remainder of the term of the second option, which Lcase ACl'ccllIcnt . Jla~c I EXHIBIT A