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($33,600.00), payable as aforesaid. <br />Mralm <br />gxmj <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 <br />space of equal quality, size and usefulness, and LESSEE is granted the right to lease such <br />substitute space for TEN (10) years, at a rental rate to be based on either $.06 per square foot or <br />the fair market value at the time of the exercising of the option, whichever is greater. <br />20. The terms of this Lease are binding on, and the benefits herein inure to, the heirs, <br />administrators and executors of LESSEE. <br />EXECUTED ON the dates shown in acknowledgments below. <br />CITY OF PARIS, LESSOR: <br />By: <br />ATTEST: <br />Mattie Cunningham, City Clerk <br />APPROVED AS TO FORM: <br />T. K. Haynes, City Attorney <br />Michael E. Malone, City Manager <br />LESSEE <br />PTERODACTYL L.L.C. <br />Bobby Joe Haggard, Manager <br />Sarah Francis Haggard, Manager <br />STATE OF TEXAS ) <br />COUNTY OF LAMAR ) <br />BEFORE ME, 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 <br />same for the purposes and consideration therein expressed and in the capacity therein stated. <br />GIVEN UNDER MY HAND AND SEAL OF OFFICE this the 30th day of January, <br />1998. <br />Notary Public, State of Texas <br />Lease Aureement - page 7 <br />