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<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> T . v CL7-AS _r s, etwe IT!% <br /> V <L__'' ~AIR_ ASSOCIA' IOtd, INC. a s corporal ion, caLed <br /> Su;,lessor in this agreement, and PARIS RODEO AND HORSE CLUB, a <br /> Texas corporation, called Sublessee in this agreement. <br /> DEMISE AND DESCRIPTION OF PROPERTY <br /> In consideration of the mutual covenants and agreements set <br /> forth in this sublease, and other good and valuable consideration, <br /> Sublessor leases to Sublessee and Sublessee leases from Sublessor <br /> the property, referred to as the subleased premises in this <br /> agreement, located in Lamar County, Texas, described as follows: <br /> BEGINNING at the Northwest corner of 6th Street and Clement <br /> Road. <br /> THENCE down the North edge of the extension of Clement Road <br /> inside the property known as the Fair Grounds, belonging to the <br /> City of Paris, and to Lessor, south along west side of 6th to a <br /> point 600 feet; <br /> THENCE in line with existing fence, <br /> THENCE West to creek running North and South through Fair <br /> Grounds property 389 feet; <br /> THENCE North along the east edge of creek_ running Nor`_h and <br /> South through the Fair Grounds property 610 feet; <br /> THENCE East along the West boundary line of Clement Road to <br /> the corner of Clement Road and 6th street N.E. 315 feet; <br /> SAVE. Ai\]D EXCEPT that area which is- West of the creek. that runs <br /> North and South from Center Street to Clement Road. <br /> ARTICT 1. TEi<t'l <br /> Terms of Sublease <br /> <br /> I#1.01. The term of this sublease shall be 1_or_ a period of ten <br /> years, beginning on the 1st day of May, 2011 and ending on May 1, <br /> 2021, unless sooner terminated as provided in this sublease. <br /> However, this sublease shall terminate earlier in the event of the <br /> termination of lease agreements between the CITY OF PARIS, a <br /> municipal corporation, as Lessor, and RED RIVER VALLEY FAIR <br /> ASSOCIATION, INC.,a Texas corporation, as Lessee, leasing the <br /> property described above, referred to as the Main Lease in this <br /> agreement. <br /> OP'T'ION TO EXT' 1D TERM <br /> f1.02. SLl l ha. t le r-LgClt ± exend %1_ S CleaSc bc`JOn'A, <br /> t ti e e--)i a o-i d, to v' ovlded i , #I . 01 . or) `he fo_! 1 o _rms <br /> 7 a n ,1 <br /> 4 <br /> <br /> <br /> <br /> <br /> <br /> 91 <br />