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<br />.-. <br /> <br />(30) days written notice, terminate this Lease as to the entire tract, or any part thereof, which <br /> <br /> <br />may be necessary, in the event the LESSOR desires to use the property, or any portion thereof, <br /> <br /> <br />for necessary municipal functions. LESSEE shall receive a pro rata reimbursement, based on <br /> <br /> <br />time remaining and/or property remaining under this Lease, of any rentals paid to the date of <br />termination. <br /> <br />12. In the event LESSEE shall keep each and every agreement contained herein and <br /> <br /> <br />do and perform all the obligations required of him hereunder during the primary term of this <br /> <br /> <br />Lease, an option is hereby given and granted to LESSEE to renew and extend this Lease for a <br /> <br /> <br />period offive (5) years from and after the expiration of this agreement, for and in consideration <br /> <br />of the payment of annual installments of Two Thousand Four Hundred and no/1 00 Dollars <br /> <br /> <br />($2,400.00), the first of which will be due and payable on or before the I st day ofJanuary, 2008, <br /> <br /> <br />with a like payment being due and payable on or before the 1st day of January of each year <br /> <br /> <br />thereafter during the term of said option. Said option may be exercised by Lessee's giving <br /> <br /> <br />notice in writing of Lessee's intention to renew said lease on or before the 31st day of <br /> <br /> <br />December, 2007. <br /> <br />13. The terms of this Lease are binding on, and the benefits herein inure to, the heirs, <br /> <br />administrators, and executors of LESSEE. This Lease may not be assigned without the express <br /> <br />written approval of LESSOR. <br />EXECUTED on the dates shown in acknowledgements below. <br /> <br />CITY OF PARIS, PARIS, TEXAS <br /> <br />By: <br /> <br />Michael J. Pfiester, Mayor <br /> <br />Pasture Lease Agreement - Page 5 <br />