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<br />EXERCISE OF OPTION <br /> <br />STATE OF TEXAS ) <br />) <br />COUNTY OF LAMAR ) <br /> <br />KNOW ALL MEN BY THESE PRESENTS: <br /> <br />That Carey Eatherly did heretofore, on the 11th day of May, 1992, execute a <br />Pasture Lease Agreement for that portion of Cox Field property described on Exhibit A to <br />said lease, attached thereto and made a part thereof, with the CITY OF PARIS, PARIS, <br />TEXAS, a municipal corporation. <br /> <br />Carey Eatherly does hereby exercise his option forthe five (5) year period beginning <br />May 15, 2007, and ending May 14, 2012, at the annual rental rate of $2,653.00. <br /> <br />SIGNED this 8th day of January, 2007. <br /> <br />Carey Eatherly <br /> <br />Acceptance of the above Exercise of Option is acknowledged this 8th day of <br />January, 2007. <br /> <br />CITY OF PARIS <br /> <br />By: <br /> <br />Richard Manning, Mayor <br /> <br />ATTEST: <br /> <br />Janice Ellis, City Clerk <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />;-J, <br /> <br />~ohn D. Lestock, Assistant City Attorney <br /> <br /> <br />EXHIBIT 1 <br />