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space for TEN (10) years for THIRTY -TWO THOUSAND FOUR HUNDRED AND N01100 <br />DOLLARS ($32,100.00), payable as aforesaid. <br />In the event that final termination of said Lease occurs during the second option, there shall <br />be no payment due LESSEE. However, the City of Paris may agree to give LESSEE hangar space <br />of equal quality, size and usefulness, and LESSEE are granted the right to lease such substitute <br />space for TEN (10) years, at a rental rate to be based on either $.Ob per square foot or the fair <br />market value at the time of the exercising of the option, whichever is greater. <br />20. The terns of this Lease are binding on, and the benefits herein inure to, the heirs, <br />administrators and executors of LESSEE. <br />WKECUTED ON the dates shown in acknowledgments below. <br />CITY OF PARIS, PARIS, TEXAS, <br />LESSOR: <br />Tay: <br />Michael B. Malone, City Manager <br />ATTEST: <br />Mettle Gunn Sham. City Clerk <br />APPROVED A TO FORM: <br />T. K. aynes, Ci Attorney <br />Imm E <br />by 1),14 Adams <br />SPATE OF TEXAS <br />COUNTY OF LAMAR <br />BEFORE 1VIE, the undersigned authority, on this day personally appeared Michael E. <br />Malone, City Manager of the City of Paris, Paris, Texas, known to me to be the person whose <br />name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same <br />for the purposes and consideration therein expressed and in the capacity therein stated. <br />GIVEN UNDER MY HAND AND SEAL OF OFFICE this the 9th day of March, 1998. <br />a= =- A - .4 Z e-t <br />; t ALICE th. PINALTO Notary Public, State of Texas <br />g � #alaiYt'alllc,stakotTesas <br />s �� M2 COMASIOa Eroas 01.29-00 Lease Aerument • page 7 <br />