2001-039-RES APPROVING/AUTHORIZING EXECUTION OF AMENDMENT BETWEEN COP AND MIKE LANE

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STATE OF TEXAS ~ KNOW ALL M~N BY THESE PRESENTS: COUNTY OF LAMAR ~ AMENDMENT TO THE EXISTING OPTION AGREEMENT BETWEEN THE CITY OF PARIS, PARIS, TEXAS. AND MIKE LANE, ASSIGNED TO THE SOUTHERN DRAG BOAT ASSOCIATION, INC. Recitals: WHEREAS, the City of Paris, Paris, Texas (hereinafter referred to as the CITY), and Mike Lane (hereinafter referred to as LANE) have previously entered into an Option Agreement dated May 10, 1999 (hereinafter referred to as the original agreement), whereby the CITY agreed to allow the use by LANE of Lake Crook Park on the 4th ofJulyweekend in the years 2000, 2001, 2002, 2003, and 2004 for the purpose of conducting drag boat races; and, WHEREAS, the Council of the City of Paris did heretofore, on the 9th day of April, 2001, approve and accept the assignment of said Option Agreement from LANE to the Southern Drag Boat Association, Inc. (hereinafter referred to as the SDBA); and, WHEREAS, LANE, as a representative for the SDBA, has presented a request to the CITY to amend the terms of the aforesaid original agreement to permit the use of Lake Crook Park on the second full weekend in July as opposed to the 4th of July weekend in order to avoid potential weather problems such as those experienced during the 4th of July weekend in 2000; NOW, THEREFORE, For and in consideration of these premises, the City of Paris, Paris, Texas, a municipal corporation and home rule city located at 135 1st Street S.E., Paris, Texas 75460, and the Southern Drag Boat Association, Inc., a Texas corporation located at 8541 Mosley, Building 9, Houston, Texas 77075, agree as follows: Section 1. That it is hereby mutually agreed by and among the parties hereto that paragraph 2 be amended so that such shall read as follows: "2. CITY does hereby grant to SDBA the exclusive use of Lake Crook for the purpose of sponsoring drag boat races and related activities, subject to reasonable inspections and access by City personnel, on the second full weekend in July of each year." Section 2. That it is hereby mutually agreed by and among the parties hereto that paragraph 7 be amended so that such shall read as follows: -1- EXHIBIT A . ~