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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premises for functions sponsored by tl~e City of Paris or any deparhnent thereof, provided such function has been approved by the City Council of the City of Paris, all of which functions shall be conducted on anon-interfering basis with the annual Fair conducted by the Red River Valley Fair Association, lnc., or any other scheduled activity of the Lessee or pi7or sub-lease rental agreements approved by the City Manager of the City of Paris between ,Y ~, ,Y 1~ the .Lessee and any Sub-Lessee. In the event of any of the above contingencies, Lessor shall give Lessee thil•ty (30) days notice in writing of its intention to so utilize any po~•t~ion of the tract for the above purposes. (17) That Lessor shall have the right and privilege at its option to terminate this lease as to any pa~'t of the realty not improved with buildings, including reasonable access and reasonable parking to include additional ]and if necessary for such buildings, for only necessary municipal functions. Lessor acknowledges that the Lessee is cun•ently in tl~e process of obtaining a loan from the First National Bank of Paris, Paris, Texas, in the approximate sum of Two Hundred Thousand and no/100 Dollars ($200,000.00) for tl~e consfiil~ctioi1 of improvements on the leased premises. Lessor agrees that in the event Lessee obtains this lease, Lessor shall subo~'dinate its landlord's lien so that Lessee may obtain said loan. CXECUTCD this the 10th day of March, 1997. CITY 01' PART By: Eric S. Clif rd, ayoi - -6-