09-E Tower Lease - Cox Com - Laserfiche WebLink

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T 3. The initial annual rent due and payable to Lessor by Lessee, for the lease of the above described property and premises unto the said COX SOUTHWEST HOLDINGS, L.P., for the term of years as stated herein, upon the terms and conditions herein specified, shall be Twelve Hundred Dollars ($1,200.00) annually, the first installment of Twelve Hundred Dollars ($1,200.00) having been paid in advance by said Lessee to Lessor, the receipt of which is hereby acknowledged, and a like installment shall be due and payable on the 1 st day of October, 2006 and on the 1 st day of October of each succeeding year to and including the 1 st day of October, 2029. Provided however, commencing on October 1,2006, and annually thereafter on each anniversary date of the Lease, the amount payable by the Lessor to the Lessee shall be adjusted to reflect changes in the Consumer Price Index (CPI - U ALL) for the Dallas/Ft. Worth Metroplex Region 6 Bureau of Labor Statistics for each contract year. For each year's adjustment, the CPI base month used for calculating each adjustment shall be March of said year. 4. Lessee shall pay to Lessor or order at the office of the City Clerk, in the City of Paris, Lamar County, Texas, the above described and mentioned annual payments when due strictly and promptly and without neglect, default or delay. 5. Any buildings, installations or improvements of any kind or character made and erected upon the leased property and premises by Lessee shall be and remain the property of Lessee, shall not attach to or become a part of the realty and may be by Lessee removed at any time prior to the expiration or other termination of the Lease. 6. Lessee shall not and may not assign this Lease or sublet the leased property and premises or any part thereof without first having had and obtained the approval thereofby the Governing Body of the City of Paris. -2- I