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<br />In the event that final termination of said Lease occurs during the second option, there <br /> <br />shall be no payment due 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 per square <br /> <br />foot or the fair 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 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 />L8:8. tAl J V:WvJ <br /> <br />mlly W .~lICO <br /> <br />f1rv~<L ~. liJ k'~) <br /> <br />Donna J. Winters <br /> <br />STATE OF TEXAS <br /> <br />COUNTY OF LAMAR <br /> <br />llEFORE ME, the undersigned authority, on this day personally appeared MICHAEL <br />E. MALONE, City Manager of the City of Paris, Paris, Texas, known to me to be the person <br />whose name is subscribed lo the foregoing instrument, and acknowledged to me that he executed <br />the ~al1lc lur lhe purposes and consideration therein expressed and in the capacity therein staled. <br /> <br />1996. <br /> <br />1/6 <br />GIVEN UNDER MY HAND AND SEAL OF OFFICE this the Jj{(day of February, <br />,I (il) ;)- , t7~' <br />1 / '1/(0) <br />') . 'f/ 1. .J!./ (C.- _/ C <br />Notary Public, Slate of Texas <br /> <br />('U."Trr." f.:,... r., I.r rfn' fll) If' '...'T.......::rJ;tt.r~ ,r... 'E <br /> <br />I ,'"','',':''''' ftllr'r r.A PI!I~:-IO ~ <br />I l\,*,\~f.~II" ~". 1\ lJt Ifl. lHh. ! <br />I i'>1.~n tlolary I'uulic, Slale ul Texas ~ <br />I "~:",j ,i ~:/ MV Cor.llniSlio!lllpllCS o,.noo], <br />""1111111 <br />~."'l" '\.tn;tln ll. o <<U...tT.tXlu.trr.clL:.t.Uln.tQ\'o7 <br /> <br />Ll'<I.\l' ^erCl'lI1cnt . page 7 <br />