07-C RRVFA Sublease - American Legion Post #199

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LEASE AGREEMENT This agreement is made and entered into by and between Red River Valley Fair Association, Inc., a non-profit organization, hereinafter referred to as Lessor, and American Legion Post #199, a non-profit organization, hereinafter referred to as Lessee. For and in consideration of the mutual promises herein expressed the Lessor and Lessee do hereby agree to the following: WITNESS TO: I. PURPOSE OF LEASE: The Lessee wishes to lease from the Lessor certain space to conduct bingo operations licensed by the State of Texas only. II. PREMISES: Lessor agrees to lease and the Lessee agrees to lease from the Lessor the following described property, all the floor area in Big Time Bingo Building on the property, located at 1875 Fitzhugh Street, Paris, Lamar County, Texas for the bingo occasions per week as designated on the Lessee's Texas Bingo license. III. DUTIES OF LESSOR: Lessor shall provide parking facilities, equipment and utilities. IV. TERM: The term of this lease shall be for a period from the 1st day of June 2007 to the 1st day of June, 2008. V. CONSIDERATION: The Lessee shall pay the Lessor the amount of $250.00 per whole session (Bingo occasion). The consideration for the lease of this building shall be due and payable monthly. The first payment will be due and payable monthly after the execution of this lease, with rent payments being due and payable monthly each and every month thereafter, prior to the last business day of the month, during the term of this lease. Total rental for any month may not in any case exceed $600.00 per bingo occasion actually conducted by lessee during that month. Lessee shall make payment to the Lessor at: Red River Valley Fair Association, Inc. 570 East Center Street Paris, Texas 75460 VI . REPRESENTATIONS OF LESSEE; The Lessor agrees and acknowledges that Lessee is a non-profit organization as that term is defined under the governing of the EXHISIT _ r -I