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Sec. 1.3. LESSEE. AGPRO, Inc., A Texas Corporation located at 859 Airport Road, Paris, <br />Texas 75462, its officers, agents and employees. <br />Sec. 1.4. Pi-emises. Approximately 400 acres of land out of the Airport Property in the City of <br />Paris, Lamar County, Texas as further described and/or depicted in Exhibit "A" attached hereto <br />and incorporated herein by reference. <br />2. LEASE <br />Sec. 2.1. In consideration of the annual rental payment hereinafter provided in Section 4.1, <br />LESSOR does hereby agree to lease demise and let unto LESSEE the Premises described in <br />Exhibit "A" attached hereto for livestock grazing, hay bailing, and dairy farm research. <br />3. TERM <br />Sec. 3.1 The initial term of this Lease shall be for a period of twenty (20) years beginning on <br />August 8, 2011 and ending on August 7, 2031. Within six months prior to the expiration of the <br />initial term of this Lease, the parties to this agreement may mutually agree to renew and extend this <br />Lease for an addirional ten (10) year term. <br />4. RENT <br />Sec. 4.1 LESSEE agrees to pay LESSOR as rent for the premises described in this Lease <br />Agreement EIGHT THOUSAND AND NO/100 DOLLARS ($8,000.00) per year with the first <br />rental payment being due on or before August 15, 2011 and subsequent rental payments being due <br />and payable on the anniversary date of the lease agreement each year during the term of this <br />agreement or any extensions thereo£ Lease payments shall be made timely to the City of Paris <br />Finance Department, 135 St. SE; Paris, Texas 75460. <br />Page 2 of 10 <br />