19-B Archers Lease Part Term - Laserfiche WebLink

Home Browse Search

Seven (7). The LESSEE may extend the term of said lease for use of tracts One (1) and Seven (7) for an additional five (5) consecutive one (1) year terms beginning October 1, 2006, and ending September 30, 2007, with subsequent one (1) year terms on the anniversary date thereafter, ending September 30, 2011, again subject to the LESSOR's annual right of termination by or before May 31 of any given one (1) year term as set out herein; provided, the LESSEE gives written notice to the LESSOR of its intention to renew said Lease Agreement ninety (90) days in advance of the end of the first five (5) consecutive one (1) year terms, stating in said notice the LESSEE's intention to renew the lease for use of tracts One (1) and Seven (7) for an additional five (5) consecutive one (1) year terms. Said renewal shall be automatically effective unless the LESSOR, by written notice forwarded to the LESSEE within sixty (60) days of receipt of the LESSEE's Notice of Intent, notifies the LESSEE the LESSOR does not desire to renew the lease for use of either or both tracts One (1) and Seven (7) for additional five (5) consecutive one (1) year terms, whereupon the LESSEE shall have until January 1, 2007, to vacate either or both tracts One (1) and Seven (7) as indicated in the LESSOR's notice and in accordance with this lease agreement. With regard to tracts Two (2), Four (4), Five (5), and Six (6), the term of this lease for tracts Two(2), Four (4), Five (5), and Six (6) shall be ten (10) years, beginning on October 1, 2001, and ending on September 30, 2011, conditioned upon the LESSEE fulfilling all the terms and provisions of this Lease Agreement as set out herein. IN CONSIDERATION HEREOF, it is mutually agreed by and between LESSOR and LESSEE: 1. That LESSEE will, at its sole cost and expense, construct and maintain an archery range and any and all roadways and parking areas to serve the same in accordance with a plan filed with and approved by the Department of Community Development of the City of Paris on the property