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EXERCISE OF OPTION <br />STATE OF TEXAS ) <br />) KNOW ALL MEN BY THESE PRESENTS: <br />COUNTY OF LAMAR ) <br />That ALLEN PHILLIPS did heretofore, on the 26th day of March, 2002, execute a Lease <br />Agreement for property located on part of Lots 6 and 7, City Block 251A, being number 1231 N. <br />Main Street, with the CITY OF PARIS, PARIS, TEXAS, a municipal corporation. <br />That Allen Phillips does hereby exercise his option to extend the aforesaid Lease Agreement <br />for a one (1) year period beginning April 15, 2002, and ending April 14, 2003, at the monthly rental <br />rate of $250.00. <br />SIGNED this 13th day of May, 2002. <br />Allen Phillips <br />Acceptance of the above Exercise of Option is acknowledged this 13th day of May, 2002. <br />CITY OF PARIS, PARIS, TEXAS <br />By: <br />Michael E. Malone, City Manager <br />ATTEST: <br />Mattie Cunningham, City Clerk <br />APPROVED AS TO FORM: <br />Larry W. Schenk, City Attorney <br />EXHIBIT A <br />