17 a 99 Year Lease proposed section Trail de Paris

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_ STATE OF TEXAS § LE_pGRF~E~. ~ ~ COUNTY OF Lq1VIAR§ § KNOW ALL MEN BY THESE PRESENTS: THIS LEASE AGREEMENT is made this 13th day of October, 2008 THE GREATER PARIS DEVELOPMENT FOUNDATION, INC., acti ng ' bY and between President, Edward D. Ellis, duly authorized, hereinafter referred bY and through its to CITY OF PARIS, TEXAS, a home rule municipal corporation, actin as "LESSOR," and the Manager, Kevin Carruth, duly authorized, hereinafter referred to a g«bY and through its City LESSEE." WITNESSETH For and in consideration of the payment to THE GREATER PARIS FOUNDATION, INC. of the sum of One and 1`10/100 Dollars DEVELOPMENT valuable consideration, LESSOR does hereby lease, rent, let a'00) and other good and $1 property described as a 0.8 mile long tract of land, one h~demise unto LESSEE the abandoned railroad right-of-way beginning at the interchan e of U d feet (100') wide of 286 and going east for approximately 0.8 miles to the intersection f 271 South and Loop and the railroad line, all within the corporate city limits of the Ci of p ld Clarksville Road Texas (hereinafter referred to as the "Trail de Paris East Extensi n») aris, Lamar Counry, PARIS DEVELOPMENT FOUNDATION, INC. obtained from Misuri Which THE GREATER Company by Line Donation Contract dated April 26, 1996 and Sb Pacific Railroad December 26, 1996. Y Assignment dated The term of this Lease shall be for a period of ninety-nine 99 Years, beginning October 13, 2008 and ending October 12, 2107. In consideration whereof, it is mutually agreed by and be LESSEE: tween LESSOR AND LESSEE agrees to maintain the property for public recreational pur walking and bicycle path or for other similar park purposes, solel b poses as a means, save and except for parking lots which may be constructed thereon-motorized however, these premises may also be used for other public urpos bY' Provided, P es not inconsistent with 1 EXHIBIT g - 00011,