2011-016 RES LEASE AGREEMENT WITH RRV VETERANS MEMORIAL INC

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LEASE AGREEMENT STATE OF TEXAS § § COUNTY OF LAMAR § This Ground Lease is made and entered into by and between the City of Paris, Texas, a home-rule municipal corporation, hereinafter called LESSOR and Red River Valley Veterans Memorial, Inc., a Texas Non-Profit Corporation, 296 CR 43330, Paris, Texas 75467, hereinafter called LESSEE. RECITALS LESSOR is a municipal corporation acting by and through its Charter as a home-rule municipality having all powers granted to it by the Texas Constitution and not restricted by the laws of the State of Texas, and duly authorized to enter into this Ground Lease pursuant to Resolution No. 2011-016 Texason February 28,2011 adopted and approved by the City Council of the City of Paris, LESSEE is a domestic non-profit corporation registered and in good standing with the Office of the Secretary of State for the State of Texas and duly authorized to enter into this Agreement by corporate resolution adopted by its Board of Directors on the 101- day of 12011. LESSOR is the fee simple owner of a 15.248 acre tract of land being part of the George W. Cox Survey, Abstract Number 164, Paris, Lamar County, Texas conveyed from Paris Junior College to the City of Paris on June 18, 1990 and recorded in volume 1217, page 263 of the Lamar County Real Property Records ("Civic Center Tract"). LESSEE desires to enter into a ground lease with LESSOR for a 0.9022 acre tract of land out of the Civic Center Tract to construct and develop a memorial to honor the veterans of the Red River Valley, Texas. LESSEE anticipates that the Memorial will draw visitors and tourists to the City of Paris from Northeast Texas, the State of Texas as well as other parts of the country. The City Council of the City of Paris, the Visitors and Convention Council and the Love Civic Center Governing Board, collectively support this Memorial Project to honor the veterans of the Red River Valley. NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto agree as follows: Red River Valley Veterans Memorial Lease Page 1 of 16 EXHIBIT "A"