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4. DONOR shall pay for all costs related to the installation of said Clock on the <br />Downtown Plaza, including, but not limited to all plans, permits, design fees, concrete, electrical, <br />mechanical or other work necessary to install the Clock and make it operable. <br />5. After the Clock is installed and made operational, CITY agrees to pay for any <br />recurring electrical service cost to keep the Clock running. CITY also agrees to maintain and <br />service the Clock, as needed, following expiration of the warranty period. <br />6. This Agreement shall remain in full force and effect beginning with the date set out <br />above and ending upon the expiration of the useful life of the Clock (such time that the Clock can <br />no longer be repaired or maintained at a reasonable cost to CITY) or until such time as this <br />Agreement is terminated by CITY upon ninety (90) days prior written notice to DONOR. <br />7. This Agreement shall be binding upon the Parties hereto, their heirs, executors and <br />assigns. <br />EXECUTED this day of January, 2011. <br />DONOR <br />By: <br />Mrs. Louise W. Hagood <br />CITY OF PARIS, TEXAS <br />By: <br />Will Biard, Mayor <br />ATTEST: <br />Janice Ellis, City Clerk <br />2 <br />