2007-112-RES-Approving and Authorizing the execution of a Landlord's consent agreement (Attornment) to subordinate the City's Landlord lien on the fairgrounds

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RESOLUTION N0. 2007-112 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, APPROVING AND AUTHORIZING THE EXECUTION OF A LANDLORD'S CONSENT AGREEMENT (ATTORNMENT) TO SUBORDINATE THE CITY'S LANDLORD LIEN ON THE FAIRGROUND PROPERTY FOR IMPROVEMENTS TO BE MADE BY THE RED RIVER VALLEY FAIR ASSOCIATION, INC.; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the Red River Valley Fair Association, Inc. has requested the City Council of the City of Paris to subordinate its landlord's lien on fairground property upon which the Red River Valley Fair Association, Inc. has made improvements in accordance with their purposed capital projects list described more particularly in Exhibit "A" attached hereto and incorporated herein by reference; and, WHEREAS, the City of Paris wishes to continue to encourage the Red River Valley Fair Association, Inc. to promote activities which are enjoyed by the citizens of Paris and Lamar County, and to improve the fairground property by making parking and building improvements on the property to accomplish said purpose and is, therefore, agreeable to subordinate its landlord lien, as requested, upon the terms and conditions described in the form of the Landlord's Consent Agreement (Attornment) attached hereto as Exhibit "B", and the same should be approved; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the request by Red River Valley Fair Association, Inc. to the City of Paris to subordinate its landlord's lien is hereby approved, and the Mayor of the City of Paris be, and he is hereby authorized and directed to execute on behalf of the City of Paris the Landlord's Consent Agreement (Attornment) in favor of First Federal Community Bank, upon the terms and conditions and in the form attached hereto as Exhibit "B". Section 3. That this resolution shall be effective from and after its date of passage. PASSED AND ADOPTED this 10'" day of September, 2007. J se James eelen, Mayor