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<br />LEASE AGREEMENT
<br />STATE OF TEXAS I
<br />LAMAR
<br />COUNTY OF KNOW ALI., HEN BY THESE PRESENTS;
<br />�
<br />THIS LEASE AGREEMENT, made and entered into this 12t"h
<br />day of April_, 1982, by and between the CITY OF PARIS, Paris,
<br />Texas, a municipal corporation, hereinafter called LESSOR,
<br />and KENNETH GIFFORD, of Lamar County, Texas, hereinafter
<br />called LESSEE, WITNESSETH:
<br />For the term and consideration, and upon tlhe terms,
<br />specifications and conditions herein prescribed and speci-
<br />fied, LESSOR does hereby let and lease to LESSEE, KENNETH
<br />GIFFORD, all that portion of Culbertson Park, a recreation
<br />area owned by said CITY OF PARIS, bounded on tike North by
<br />Neathery Street, bounded on the East by 17th Street, S, E,
<br />bounded on the South by East Hearon Street, and bounded on
<br />the West by a fence running due North and South from
<br />Neathery Street to East Hearon Street, which fence is lo-
<br />cated on the West Side of the miniature golf: course now
<br />existing on the area involved, being the area now under
<br />fence on the extreme East portion of Culbertson Park,
<br />The term of this lease shall be for a period of five
<br />(5) years from and after April. 1, 1982, that is from April 1,
<br />1982 through March 31, 1987, at which time and on which. date
<br />the same shall terminate, unless sooner terminated as herein
<br />specified and provided, during which term LESSEE may and
<br />shall occupy the same and use the same as an amusement and
<br />recreation center, and for no other purpose, on consideration
<br />of and for which, LESSEE, KENNETH GIFFORD, contracts, agrees
<br />and obligates himself, his heirs and assigns, that he will
<br />pay and deliver over to the City Clerk of the City of Paris,
<br />monthly, on the 1st day of each month hereafter, during the
<br />term of said lease, a certified statement of the gross re-
<br />ceipts accruing to and from the operation of the amusement
<br />center and each facility thereof for the immediately pre-
<br />ceding month, therewith paying and delivering to the City of
<br />Paris as rental or lease money a sum equal to ten per cent
<br />(10 %) of said gross receipts, income from the operation of
<br />the miniature golf course, or any other amusement placed on
<br />and used in the aforesaid property.
<br />In the event that LESSEE
<br />agreement contained herein an
<br />gations required of LESSEE he
<br />lease, an option is thereby gi
<br />renew and extend this lease f
<br />(5) years from and after the
<br />for and in consideration of t
<br />on the 1st day of each month,
<br />of Paris, during the term of
<br />a certified statement of the
<br />from the operation of the amu
<br />thereof for the immediately I)
<br />and delivering to the City of
<br />a sum equal to ten per cent
<br />income from the operation of
<br />shall keep each and every
<br />I do and t:)erform all the obli-
<br />-eunder during the term of this
<br />Ten and -,rat ted to LESSEE to
<br />>r an additional period of five
<br />expiration of this agreement,
<br />to delivery of monthly payments,
<br />to the City Clerk of the City
<br />;aid five-year option period,
<br />;ross receipts accruing to and
<br />; ement center and each facility
<br />-eceding month, therewith paying
<br />Paris as rental or lease money
<br />_0 %) of said gross receipts,
<br />-.he miniature L-olf course. or
<br />any other amusement placed on and used in the aforesaid prop-
<br />erty, Said option may be exercised by LESSEE'S giving notice
<br />in writing of LESSEE'S intention to renew'
<br />said lease on or
<br />before the lst day of March, 1987,
<br />EXHIBIT A
<br />TO RESOLUTION NO. 21 -55
<br />
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