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1. <br />BE-GINNIIvG at a point in tlie center line of a • <br />drainage ditch, said ditch beind locatcd between <br />Hickory Streer and Clement Road, and the beginning point being VYest 260 feet from the Southwest Corner <br />ot the intersection of Fitzhugh Avenue and Clement <br />Road (the Northeast Corner of Block 256) and also <br />being S 2° 00 E along the centerline of a drainage <br />ditch; , <br />TI-iENCE North $8 ° 30` West 287 feet to a point; <br />THENCE South 1° 30t West 84 feet to a point; • <br />THENCE North 88° 30' West 477 feet to a poa.nt, <br />same bezng in the East Margin of 6th Street, N. E. ; <br />THENCE in a Southerly direction with the East <br />Margin of 6th St_ , N. E. 16 feet to a point; <br />THENCE South 88° 30' East 477 feet to a point; <br />THENCE South 1° 30' East 200 feet to a point; <br />THENCE 5outh 88 ° 30' East 297 feet to a point in <br />the center line of a drainage ditch; <br />THENCE North 2° 00' West with the. center line of <br />the drainage ditch 300 feet more or less to the place <br />of beginninb, containing 2. 19 acres of 7.and more or <br />less.; and <br />WHEREAS, RED RIVER VALLEY EXPOSITION, INC. is arrangzng <br />for the construction and exection of a livestock exhibition building <br />on s aid leased premises, the constructionan3 erection of which <br />will have to be financed and the debt secured by a Security <br />Agreement on and against the building, and in order to obtain <br />such financing it is rec{uired by the lender that the CITY OF <br />PARIS subordinate its landlord's lien to the lien created by <br />the execution of the aforementioned Security Agreement; and <br />WHEREAS, the construction of said livestock exhibition <br />building will be o£ substantial value and benefit to the CITY <br />OF PARIS and its residents: <br />NOW, THEREFORE, KhTOjti ALL NIEN BY THESE PRESENTS : <br />That saicl the CITY OF PARIS, pursuant to a duly adopted <br />resolution of the City Council of the CITY OF PARIS, acting <br />herein by and through its duly authorized T4ayox, JAMES M. <br />BRUNETTE, attested by the City Clerk, HAROI,D C. GREENE, has <br />and does hereby Subordinate in favor of TfiE FIRST NATIONAL <br />BANK OF PaRIS <br />, a corporation, aF Paris, <br />Texas, in consideration of its lending said RF:D kIVrR VAI,LEY <br />- 2 - <br />