2009-027-RES-AWARDING THE BID FOR HAY LEASE @ LAKE GIBBONS

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due thereon when due. It is expressly provided that such insurance policy or policies shall and must be written and issued by a reputable insurance company or companies licensed to write insurance policies in the state of Texas, listing LESSOR, its elected officials, officers and employees as an additional insured, subject to approval by the City Attorney of the City of Paris, and LESSEE or his insurance carrier or carriers shall deliver a copy of any such policies to the City Clerk of the City of Paris, 150 1st Street S.E., Paris, Texas 75460, or furnish to said City Clerk a current letter or certificate from such company or companies, evidencing the fact that such insurance is in full force and effect at all times during this Lease, and any extension hereof, and specifically noting thereon that LESSOR is an additional insured. All such policies shall be written so that the LESSOR will be notified of cancellation or of any restrictive amendment of the policies at least thirty (30) days prior to the effective date of such cancellation or amendment. Notice shall be by certified mail, return receipt requested, addressed to the LESSOR at the following address: City Clerk, City of Paris, P. 0. Box 9037, Paris, Texas 75461-9037. It is understood, agreed, and provided that LESSOR shall not be liable or responsible to LESSEE for damages or loss of any kind whatsoever concerning the hay and grasses grown and to be grown on said Leased Premises, and the said LESSEE accepts the Leased Premises AS IS AND WHERE IS WITHOUT WARRANTY OF A1VY KIND, and further, LESSEE assumes all risks incident to and connected with the same. 11. Should LESSEE default in, or fail or refuse to keep any of the covenants, conditions, stipulations, and/or provisions herein contained, LESSOR shall give LESSEE written notice thereof giving LESSEE thirty (30) days to correct such discrepancy, and, in the event such default, failure, or refusal is not corrected within said thirty (30) day period, then this Lease may be terminated at LESSOR's option, and it shall be lawful for LESSOR to reenter the leased premises HAY LEASE AGREEMENT - Page 4