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LEASE AGREEMENT <br />STATE OF TEXAS § <br />§ KNOW ALL MEN BY THESE PRESENTS: <br />COUNTY OF LAMAR§ <br />THIS LEASE AGREEMENT is made this 13th day of October, 2008, by and between <br />THE GREATER PARIS DEVELOPMENT FOUNDATION, INC., acting by and through its <br />President, Edward D. Ellis, duly authorized, hereinafter referred to as "LESSOR," and the <br />CITY OF PARIS, TEXAS, a home rule municipal corporation, acting by and through its City <br />Manager, Kevin Carruth, duly authorized, hereinafter referred to as "LESSEE." <br />WITNESSETH <br />For and in consideration of the payment to THE GREATER PARIS DEVELOPMENT <br />FOUNDATION, INC. of the sum of One and no/100 Dollars ($1.00) and other good and <br />valuable consideration, LESSOR does hereby lease, rent, let and demise unto LESSEE the <br />property described as a 0.8 mile long tract of land, one hundred feet (100') wide of <br />abandoned railroad right-of-way beginning at the interchange of US 271 South and Loop <br />286 and going east for approximately 0.8 miles to the intersection of Old Clarksville Road <br />and the railroad line, all within the corporate city limits of the City of Paris, Lamar County, <br />Texas (hereinafter referred to as the "Trail de Paris East Extension") which THE GREATER <br />PARIS DEVELOPMENT FOUNDATION, INC. obtained from Missouri Pacific Railroad <br />Company by Line Donation Contract dated April 26, 1996 and by Assignment dated <br />December 26,1996. <br />The term of this Lease shall be for a period of ninety-nine (99) years, beginning <br />October 13, 2008 and ending October 12, 2107. <br />In consideration whereof, it is mutually agreed by and between LESSOR AND <br />LESSEE: <br />LESSEE agrees to maintain the property for public recreational purposes as a <br />walking and bicycle path or for other similar park purposes, solely by non-motorized <br />means, save and except for parking lots which may be constructed thereby; provided, <br />however, these premises may also be used for other public purposes not inconsistent with <br />1 <br />EXHIB(T ..,A <br />