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OF PARIS, a municipal corporation, as follows: $300.00 on or before February 15, 2004, with a like <br />payment on or before the 15th day of each month thereafter during the remainder of the term of the <br />first option, which ends February 14, 2005. The granting of said first option is subject to the <br />requirements set forth in paragraph 9 and the right to terminate by either party set forth in paragraph <br /> <br />10. <br /> <br /> It is further agreed to by LESSOR and LESSEE that LESSEE shall have a second option to <br />renew such Lease for an additional period of one (1) year, the rental for the second renewal to be in <br />the sum of THREE THOUSAND N1NE HUNDRED AND NO/100 DOLLARS ($3,900.00), payable <br />to the CITY OF PARIS, a municipal corporation, as follows: $325.00 on or before Februaryl5, <br />2005, with a like payment on or before the 15th day of each month thereafter during the remainder <br />of the term of the second option, which ends February 14, 2006. The granting of said second option <br />is subject to the requirements set forth in paragraph 9 and the right to terminate by either party set <br />forth in paragraph 10. <br /> <br /> It is further agreed to by LESSOR and LESSEE that LESSEE shall have a third option to <br />renew such Lease for an additional period of one (1) year, the rental for the third renewal to be in the <br />sum of FOUR THOUSAND TWO HUNDRED AND NO/100 DOLLARS ($4,200.00), payable to <br />the CITY OF PARIS, a municipal corporation, as follows: $350.00 on or before February 15, 2006, <br />with a like payment on or before the 15th day of each month thereafter during the remainder of the <br />term of the third option, which ends February 14, 2007. The granting of said third option is subject <br />to the requirements set forth in paragraph 9 and the right to terminate by either party set forth in <br />paragraph 10. <br /> <br />Lease Agreement...Page 2 <br /> <br /> <br />