2013-037 Approving a Lease Agreement between the City of Paris and Valley of the Caddo Museum and Cultural Center, Inc.

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the property and the Leased Premises. To that end, LESSEE agrees not to make any additions, changes, improvements, or modifications to the Leased Premises or Property without the prior written approval of LESSOR. Written approval shall include written submittal of Lessee's proposed changes or additions to the City Planning Director and City Engineer. In the event Lessee's plans are approved by Lessor, all improvements or modifications shall be made at the expense of LESSEE and, at the expiration of this Lease, shall become the property of LESSOR. Lessee stipulates that it has examined the Leased Premises as well as all buildings and improvements located on the Property, and they are all, as of the date of this Lease Agreement, in good order and repair and in a safe and clean condition, and Lessee accepts the Property "As- Is" "Where -Is" and suitable for Lessee's intended use. 3. Term. The initial term of this Lease is for a period of ten (10) years, beginning November 1, 2013 and ending ten (10) years later (hereinafter referred to as "the Initial Term "). Upon the expiration of the Initial Term and unless terminated by either party as set forth below, this Lease shall be automatically renewed for additional five (5) year terms until either party terminates the lease as provided herein. Either party may terminate this Lease for convenience during the Initial Term or any renewal term upon ninety (90) days written notice to the other party. 4. During the term of this Lease, Lessee shall operate and maintain the Valley of the Caddo Museum and Cultural Center at the Leased Premises as a public museum and cultural center. Lessee agrees to prepare the Museum and Cultural Center at its own expense and to open the Museum to the public on or before February 1, 2014. Lessee shall maintain regular operating hours of at least two days per week and Lessee shall post those operating hours near the main entrance to the Leased Premises The Museum shall not deny admission to any person because of race, gender, color, national origin, age, disability or religion. 5. Lessee acknowledges and agrees to maintain an exhibit in the Leased Premises on the history of the Santa Fe — Frisco Railroad and /or the Santa Fe -Frisco Depot building located in Paris, Texas. Lessee may continue to display exhibit items that were part of the Transportation Museum at the Depot Building to satisfy this covenant. 6. Lessee covenants and agrees that it may use the Leased Premises solely for the purposes expressed above. As long as Lessee is not in default of this Agreement, Lessee shall have exclusive right to occupy the Leased Premises and to use the Leased Premises solely for such purposes, subject to Lessor's rights as provided herein. Lessee agrees not to permit any waste of the property, or to use the property or leased premises in any way that is hazardous or which would void insurance of the Property. 7. During the term of this Lease, Lessor shall maintain in good order and repair at Lessor's expense the major structural components of the Depot Building, including the roof, walls, foundation, and utility connections. 8. Lessee shall, at Lessee's sole cost and expense, operate and maintain the Leased Premises in such a manner so as to comply with all applicable federal, state, and local laws, 2