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REAL ESTATE PURCHASE AGREEMENT DRAFT #3
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<br />STATE OF TEXAS §
<br />COUNTY OF LAMAR §
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<br />KNOW ALL MEN BY THESE PRESENTS
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<br /> This Real Estate Purchase Agreement (this Agreement) is made as of this 10th day of
<br />February, 2003, by and between the City of Paris, Paris, Texas, a municipal corporation, acting by
<br />and through its Mayor, Michael J. Pfiester, duly authorized, hereinafter called Seller, and the Chamber
<br />of Commerce of Lamar County, Inc., Paris, Texas, acting by and through its President, Gary Vest,
<br />duly authorized, hereinafter called Buyer.
<br />
<br /> WHEREAS, the City of Paris and the Chamber of Commerce are currently joint owners in
<br />that Property located at the northwest corner of the intersection of 17th Street S.E. and Clarksville
<br />Street in the city of Paris (hereinafter referred to as the "Property"); and,
<br />
<br /> WHEREAS, said Property and accompanying Building (hereinafter referred to as the
<br />"Building") were originally purchased by the Chamber of Commerce by Warranty Deed dated
<br />February 1, 1983, found at Volume 654, Page 164 of the Deed Records of Lamar County, Texas,
<br />said Building being purchased to be used as the central offices of the Lamar County Chamber of
<br />Commerce; and,
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<br /> WHEREAS, thereafter, the Chamber of Commerce offered to the City of Paris and the City
<br />of Paris accepted the offer of the purchase of an undivided three-tenths (3/10) interest in and to the
<br />aforesaid Property, for the purchase price of $100,000.00, and the City of Paris accepting said offer,
<br />by General Warranty Deed dated March 27, 1984, the same being found at Volume 670, Page 14 of
<br />the Deed Records of Lamar County, Texas, purchased and acquired the aforesaid three-tenths (3/10)
<br />interest in said Property; and,
<br />
<br /> WHEREAS, thereafter, the City of Paris entered into a series of lease agreements with the
<br />Lamar County Chamber of Commerce whereby the City's undivided three-tenths (3/10) interest in
<br />the Property was leased by the Lamar County Chamber of Commerce in exchange for the aforesaid
<br />Chamber of Commerce using the aforesaid premises in part for Visitors and Convention Council
<br />activities, as permitted by Section 30-38 of the Code of Ordinances of the City of Paris; and,
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<br /> WHEREAS, thereafter, the City of Paris, on behalf of the Chamber of Commerce, sought
<br />and received approval for a grant from the Texas Department of Transportation (TxDOT) to
<br />substantially rehabilitate and reconstruct that building known as the Santa Fe-Frisco Depot, a
<br />historical structure located at 1225 Bonham Street, with the understanding between the City and the
<br />Chamber that upon final rehabilitation of said structure, the Chamber would occupy said structure
<br />to conduct Chamber of Commerce, Paris Economic Development Corporation, and Visitors and
<br />Convention Council activities, in addition to utilizing a portion of said structure for the support of
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<br />EXHIBIT A
<br /> Page 1 of 8
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