Laserfiche WebLink
<br />FIRST AMENDED <br />LEASE AGREEMENT <br /> <br />COUNTY OF LAMAR <br /> <br />KNOW ALL MEN BY THESE PRESENTS: <br /> <br />ST ATE OF TEXAS <br /> <br />TIllS LEASE AGREEMENT is made this 12th day of Februal)', 1996, by and between <br /> <br />the CITY OF PARIS, PARIS, TEXAS, a municipal corporation, acting by and through its City <br /> <br />Manager, Michael E. Malone, duly authorized, hereinafter referred to as LESSOR, and BILLY <br /> <br />W. WINTERS and DONNA J. WINTERS, IS25 F.M. Road 195, Pads, Lamar County, Texas, <br /> <br />hereinafter referred to as LESSEES. <br /> <br />WITNESSETH <br /> <br />For and in consideration of the construction of hangar at Cox Field Airport, the CITY <br /> <br />OF PARIS does hereby lease, rent and let unto BILLY W. WINTERS and DONNA 1. <br /> <br />WINTERS, that portion of Cox field property described in Exhibit 11 A", attached hereto and <br /> <br />made a part hereof for all legal purposes. <br /> <br />The term of this Lease is for THIRTY-FIVE (35) years, beginning on the 1st day of <br /> <br />March, 1996, and ending on the 28th day of February, 2031. <br /> <br />It is further agreed to by'LESSOR and LESSEES that LESSEES shaii have the option <br /> <br />to renew such Lease for an additional period of TEN (10) years, the rental for the renewal to <br /> <br />be in the sum of THIRTY-THREE THOUSAND SIX HUNDRED AND NO/100 DOLLARS <br /> <br />($33,600.00), payable to the CITY Of PARIS, a municipal corporation, as follows: $280.00 <br /> <br />on or before March I, 2031, with a like payment on or before the 1st day of each month <br /> <br />thereafter uuring the remainder of the term of the first option, which ends February 28, 2041. <br /> <br />The granting of said first option is subject to the requirements set forth in paragraph 18. <br /> <br />It is further agreed to by LESSOR and LESSEES that LESSEES shall have a second <br /> <br />option to renew such Lease for a periou of TEN (10) years, the rental for the second renewal <br /> <br />to be baseu UI1 either $.06 per square loot or the rair rnarU value at the time ut the exercising <br /> <br />of such second option, whichever is greater, payable to the City of Paris, a municipal <br /> <br />corporation, as follows: The amount determined at the time of the exercising of the second <br /> <br />option is payable on ur before the I st day of March, 2041, with a like payment on or before the <br /> <br />I st day of each month thereafter during the remainder of the term of the second option, which <br /> <br />Lcase ACl'ccllIcnt . page I <br /> <br />EXHIBIT A <br />