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<br />LEASE AGREEMENT <br /> <br />STATE OF TEXAS <br /> <br />} <br />} <br />} <br /> <br />KNOW ALL MEN BY THESE PRESENTS: <br /> <br />COUNTY OF LAMAR <br /> <br />THIS LEASE AGREEMENT is made this 26th day of March, 2001, by and between the <br /> <br />CITY OF PARIS, PARIS, TEXAS, a municipal corporation, acting by and through its Mayor, <br /> <br />Michael 1. Pfiester, duly authorized, hereinafter referred to as LESSOR, and ALLEN PHILLIPS, P. <br /> <br />O. Box 6211, Paris, Lamar County, Texas 75462, hereinafter referred to as LESSEE, <br /> <br />WITNESSETH <br /> <br />For and in consideration of the payment of the sum of THREE THOUSAND AND NO/lOO <br /> <br />DOLLARS ($3,000.00) per year, payable to the CITY OF PARIS, a municipal corporation, as <br /> <br />follows: $250.00 on or before April 15, 2001, with a like payment on or before the 1st day of each <br /> <br />month thereafter during the remainder of the term hereof, said CITY OF PARIS does hereby lease, <br /> <br />rent, and let unto ALLEN PHILLIPS that certain property located on part of Lots 6 and 7, City <br /> <br />Block 251A, being number 1231 N. Main Street, Paris, Texas, more fully described on Exhibit A, <br /> <br />attached hereto and made a part hereof. <br /> <br />1. TERM <br /> <br />The term of this lease is for one (1) year, beginning on the 1st day of April, 2001, and ending <br /> <br />on the 14th day of April, 2002, at which time and on which date the same shall terminate, unless <br /> <br />sooner terminated as herein specified and provided, during which time LESSEE may and shall occupy <br /> <br />the same and use the same as an automobile sales lot, and for no other purpose. <br /> <br />It is further agreed by LESSOR and LESSEE that LESSEE shall have the option to renew <br /> <br />such Lease for an additional period of one (I) year, the rental for the renewal to be in the sum of <br /> <br />THREE THOUSAND AND NO/I00 DOLLARS ($3,000.00), payable to the CITY OF PARIS, a <br /> <br />Lease Allreement...P8{l:e 1 <br /> <br />l;;)(HIBIT A <br />