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a STATE OF TEXAS KNOW ALL MEN BY THESE PRESENTS: COUNTY OF LAMA.R -� LEASE AGREEMENT BETWEEN the CITY OF PARIS, a municipal corporation, herein called LESSOR, and RED RIVER VALLEY FAIR ASSOCIATION, INC., a Texas Corporation, herein called LESSEE, executed in duplicate the day of January, 1987, witnesseth: The leased premises consist of the following described property of Lessor in Paris, Lamar County, Texas, namely: BEGINNING at the intersection of the N.B. line of Hickory Avenue with the W. B. Line of Fitzhugh Avenue, also designated as 9th St., N.E., the same being the S.E. corner of a 12 acre tract of land sold to the Lamar County Fair Association by N. E. Clement Estate in 1936, described in deed recorded in Vol. 245, Page 575, Lamar County Deed Records: THENCE North 1501.5 feet to the N.E. corner of said 12 acre tract, same being the S. B. Line of Clement Road, said Clement Road being 60 feet in width; THENCE West at 380 feet to the N.W. corner of said 12 acre tract, same being the N.E. corner of a tract of land purchased by the Lamar County Fair Association in 1916, described in deed recorded in Vol. 160, Page. 322, Lamar County Deed Records, continuing West in all 1710 feet to the N.W. Corner of Block No. 31, Fairview Addition to the City of Paris, same being the E. B. line of 3rd St., N.E., same being the most Northerly N.W. corner of a tract of land -purchased from H. E. Clement in 1921 out of the Fairview Addition and described in deed recorded in Vol. 199, Page 311, Lamar County Deed Records; THENCE South 1356 f eet to the E. B. Line of 3rd St., N.E., to the N.B. Line of Hickory Avenue; THENCE East with the N.B. line of Hickory Avenue approximately 804.0 feet to the S.W. Corner of the Emmett Reece Ball Field property; THENCE North 600 feet; THENCE East 600 feet; THENCE South 600 feet; THENCE East 300 feet to the place of begin- ning. SAVE AND EXCEPT the following described tract of land: Situated within the corporate limits of the City of Paris, Lamar County, Texas, and being a part of Block 256, as shown on the Tax Map of the City of Paris, and more fully described as follows: BEGINNING at a point in the center line of a drainage ditch, said ditch being located between Hickory Street and Clement Road, and the beginning point being West 260 feet from the Southwest Corner of the intersection of Fitzhugh Avenue and Clement Road (the Northeast Corner of Block 256) and also being S 2° 00 E along the centerline of a EXHIBIT B