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<br />.. <br />" <br />~ -\ ,it <br /> <br />LEASE AGREEMENT <br /> <br />This is a Lease Agreement between the CITY OF PARIS, a municipal corporation, <br /> <br />hereinafter refetTed to as LESSOR, and RED RIVER VALLEY FAIR ASSOCIATION <br />, <br /> <br />INC., a Texas corporation, hereinafter refetTed to as LESSEE, executed in duplicate on this <br /> <br />the 10th day of March, 1997, WITNESSETH: <br /> <br />The leased premises consists of the following described property owned by Lessor in <br /> <br />Paris, Lamar County, Texas: <br /> <br />All that cettain tract or parcel oftand as described in Exhibit "A" attached hereto and <br />made a part hereof for all purposes. <br /> <br />The term of this lease shall be for thirty 30 years beginning on the 1 st day of April, <br /> <br />1997, and ending the 3 I st day of March, 2027. <br /> <br />The consideration for this lease and the use and occupancy by Lessee shatt be Lessee's <br /> <br />agreement to perform an necessary repairs to the existing buildings, structures and other <br /> <br />improvements on the leased premises and to make such additional improvements on the <br /> <br />leased premises to the extent of fIve per cent (5%) of its annual gross receipts, Lessee hereby <br /> <br />agreeing to expend for such purposes the sum herein set out during each year of this <br /> <br />agreement, the total amount to be expended by Lessee for such purposes during the tenn of <br /> <br />this lease to be not less than five per cent (5%) of its total gross receipts for the thirty (30) <br /> <br />year period covered by this agreement; provided however, that in the event Lessee expends <br /> <br />-1- <br /> <br />EXHIBIT A <br />