2002-088-RES APPROVE/AUTHORIZE EXECUTION OF OPTION TO RENEW LEASE OF PROPERTY LOCATED AT PARTS OF LOTS 6 & 7, BLOCK 251A, BEING 1231 N MAIN STREET

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RESOLUTION NO. 2002-088 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, APPROVING AND AUTHORIZING THE EXECUTION OF AN EXERCISE OF OPTION TO RENEW THE LEASE OF PROPERTY LOCATED ON PART OF LOTS 6 AND 7, CITY BLOCK 251A, BEING NUMBER 1231 N. MAIN STREET, PARIS, TEXAS FORA TERM OF ONE YEAR; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Paris did heretofore, on the 26th day of March, 2001, in Resolution No. 2001-028, authorize the execution of a Lease Agreement with Allen Phillips for the property located on part of Lots 6 and 7, City Block 251A, being number 1231 N. Main Street; and, WHEREAS, the City Council of the City of Paris is in receipt of an Exercise of Option from Allen Phillips, the form of which is attached hereto as Exhibit A, for a one (1) year extension of said Lease Agreement dated April 15, 2002; and, WHEREAS, the City Council deems it appropriate to grant the exercise of option to Allen Phillips for one (1) year, which will extend the term of said Lease Agreement from April 15, 2002, to April 14, 2003, and the City Manager should be authorized to acknowledge acceptance of said Exercise of Option by signing the same; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the Exercise of Option by Allen Phillips, the form of which is attached hereto as Exhibit A, be, and the same is hereby, granted for a period of one (1) year, beginning April 15, 2002, and ending April 14, 2003. Section 3. That the City Manager be, and he is hereby, authorized and directed to acknowledge acceptance, on behalf of the City of Paris, of said Exercise of Option by signing the same. Section 4. That this resolution shall be effective from and after its date of passage.