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contained herein and do and perform all of the obligations required <br />of Lessee hereunder during said first five year option period, then <br />and only in that event an option is given and granted to Lessee to <br />renew and extend this lease for an additional period of five (5) <br />years from and after the expiration of said first five year option <br />period at a rental rate to be negotiated at that time; each of the <br />above options may be exercised by Lessee's giving notice in writing <br />of Lessee's intention to renew said lease on or before the lst day <br />of July, 1988 for the first option and on or before the lst day of <br />July, 1993 for the second option. <br />20. The terms of this lease are binding on and the benefits <br />herein inure to the heirs, administrators and executors of Lessee. <br />Executed on the dates shown in acknowledgements below. <br />CITY OF PARIS <br />h <br />By: <br />Robert W. Sokoll, City Manager <br />A TTEST: <br />H. C. Greene, City Clerk - LESSOR <br />APPROVED AS TO FORM: <br />T. K. Haynes, City~torney <br />James M. Wrenn, Jr. <br />LESSEE <br />