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<br />KNOW ALL MEN BY THESE PRESENTS: <br /> <br />WITNESSETH: <br /> <br />For and in consideration of the construction of three and <br />three-fourths (3 3/4) mile of fence for a 788 acre tract shown on <br />Exhibit A attached hereto, payable to the CITY OF PARIS, a <br />municipal corporation, said CITY does hereby lease, rent and let <br />unto LESSEE, the following described property, being the property <br />known as Cox Field and situated in Lamar County, Texas: <br />The term of this lease is for five (5) years, beginning on <br />the 15th day of May, 1992 and ending on the 14th day of May, <br />1997. <br />IN CONSIDERATION HEREOF, it is mutually agreed by and <br />between CITY and LESSEE: <br />1. That in lieu of cash rental LESSEE agrees to construct <br />three and three-fourths (3 3/4) miles of fence for the first 5 <br />years and to pay cost of $13,265.00 for the option 5 years, <br />LESSEE will build three-fourths (3/4) mile of new fence per year <br />consisting of 5-wire barbed wire fence, steel posts 12 feet apart <br />with a stay in between with welded braces per mile and welded <br />metal corners. LESSEE will also maintain existing fence until it <br />is renewed. <br />2. That this lease is subject to all the terms, provisions <br />and conditions of the deed of conveyance of such premises from <br />the United States of America to the City of Paris, recorded in <br />Book 308, Page 287, Deed Records of Lamar County, Texas, to which <br />reference is made for all purposes. <br />3. That LESSEE, his successors or assigns, agrees that in <br />the event facilities are constructed, maintained, or otherwise <br />operated on the said property described in this lease for a <br />