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DONATION AND MAINTENANCE AGREEMENT <br />This Agreement is entered into this day of January, 2011, by and between Mrs. <br />Louise W. Hagood, 556 Fitzhugh Avenue, Paris, Texas, 75460 (hereinafter "DONOR"), and the <br />City of Paris, Texas, a home-rule Municipal Corporation, 135 lst Street SE, Paris, Texas 75460, <br />(hereinafter "CITY") <br />WHEREAS, Mrs. Louise W. Hagood wishes to donate a fifteen-foot (15') tall Madison <br />Street Clock manufactured by The Verdin Company (hereinafter the "Clock") to the City of Paris, <br />in honor of her late husband, Colonel Thomas Monroe Hagood, Jr., for placement on City Property <br />at the southeast corner of the Downtown Plaza; and, <br />WHEREAS, pursuant to Resolution No. , the City Council of the City of <br />Paris, Texas, has agreed to accept the gift of this Clock from Mrs. Hagood for placement on the <br />Downtown Plaza and the CITY has agreed to care for and maintain the Clock during its useful life. <br />NOW THEREFORE, in consideration of the gift of the Clock to CITY and other good <br />and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, DONOR <br />and CITY hereby agree as follows: <br />1. DONOR will donate, deliver and install a fifteen-foot (15') tall Madison Street <br />Clock manufactured by The Verdin Company to the City of Paris, Texas for installation on the <br />southeast corner of the Downtown Plaza or at such other location as the Parties to this Agreement <br />may decide to locate the Clock. <br />2. DONOR shall purchase the Clock at her own expense and pay for delivery and <br />installation of the Clock at the agreed location on the Downtown Plaza, Paris, Texas. <br />3. DONOR shall obtain a three-year warranty on the Clock from the Manufacturer <br />(including a full warranty on all parts and labor). All warranty papers on the Clock obtained by <br />DONOR shall be transferred and assigned to the CITY upon execution of this Agreement. <br />1 <br />EXH1B1T A <br />