2001-108-RES APPROVING GROUNDS SUBLEASE BETWEEN RED RIVER VALLEY FAIR ASSN AND PARIS RODEO AND HORSE CLUB

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SUBLEASE AGREEMENT THIS SUBLEASE is made at Paris, Texas, between RED RIVER VALLEY FAIR ASSOCIATION, INC., a Texas corporation, called Sublessor in this agreement, and PARIS RODEO AND HORSE CLUB, a Texas corporation, called Sublessee in this agreement. DEMISE AND DESCRIPTION OF PROPERTY In consideration of the mutual covenants and agreements set forth in this sublease, and other good and valuable consideration, Sublessor leases to Sublessee and Sublessee leases from Sublessor the property, referred to as the subleased premises in this agreement, located in Lamar County, Texas, described as follows: BEGINNING at the Northwest corner of 6th Street and Clement Road. THENCE down the North edge of the extension of Clement Road inside the property known as the Fair Grounds, belonging to the City of Paris, and to Lessor, south along west side of 6th to a point 600 feet- THENCE in line with existing fence, THENCE West to creek running North and South through Fair Grounds property 389 feet; THENCE North along the east edge of creek running North and South through the Fair Grounds property 610 feet; THENCE East along the West boundary line of Clement Road to the corner of Clement Road and 6th street N.E. 315 feet; SAVE AND EXCEPT that area which is west of the creek that runs North and South from Center Street to Clement Road. ARTICLE 1. TERM Terms of Sublease #1.01. The term of this sublease shall be for a period of five years, beginning on May 12, 2001 and ending on May 13, 2006, unless sooner terminated as provided in this sublease. However, this sublease shall terminate earlier in the event of the termination of lease agreements between the CITY OF PARIS, a municipal corporation, as Lessor, and RED RIVER VALLEY FAIR ASSOCIATION, INC., a Texas corporation, as Lessee, leasing the property described above, referred to as the Main Lease in this agreement. 1