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

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Gross Receipts Defined . #2.02. The term "gross receipts" as used in this sublease means all sums of money received by Sublessee from all business conducted on or from the subleased premises by Sublessee and all others, whether such money be evidenced by check, credit, charge, exchange, or otherwise. a. The term "gross receipts" includes, but is not limited to, the following: i. The amounts received from the sale of merchandise or services sold or performed, in, on, or from the subleased premises. ii. Proceeds from rentals of the premises. 111. The amounts received for ticket sales for any activity on the premises. iv. Amounts received for Sublessee's annual rodeo. v. The amounts received from any other source. vi. The terms" sums of money" shall include services rendered or value received by Sublessee from others in lieu of money received for use of the premises. This does not include donated services for charitable purposes. Statement of Gross Receipts #2.03. On or before the 15th day following the end of each quarter of each year of this Sublease, Sublessee must furnish Sublessor with a true and accurate statement, signed by Sublessee or by an authorized representative of Sublessee, showing its gross receipts for each month during the term of this sublease and any extension of this sublease. For the purposes of this paragraph, "Each quarter" means April 15th, July 15th, October 15th and January 15th of each year, beginning May 15th, 2001. Sublessee agrees to provide its statement of gross receipts to Sublessor by sending a copy to Sublessor's mailing address, located at 570 East Center Street, Paris, Texas 75460, or a such other location or locations as Sublessor shall from time to time designate by written notice to Sublessee. 3