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4 <br />the LESSOR shall give the LESSEES ninety (90) days notice, in writing, of its intention to so <br />utilize the tract, or any portion thereof, for the above specified purposes. In the event of either <br />of the above contingencies, the LESSOR shall have the option pursuant to Paragraph 8 of this <br />Lease to satisfy its obligation of compensation to LESSEES. <br />18. In the event LESSEES shall keep each and every agreement contained herein and <br />do and perform all the obligations required of them hereunder during the primary term of this <br />Lease, an option is hereby given and granted to LESSEES to renew and extend this Lease for <br />a period of TEN (10) years from and after the expiration of this agreement, which option may <br />be exercised by LESSEES giving notice, in writing, of their intention to renew said lease ninety <br />(90) days prior to the expiration of the primary term of the Lease, and shall be under such terms <br />as previously provided. <br />Further, in the event LESSEES shall keep each and every agreement contained herein <br />and do and perform all the obligations required of them hereunder during the first option of this <br />Lease, a second option is hereby given and granted to LESSEES to renew and extend this Lease <br />for a period of TEN (10) years from and after the expiration of said first option, which second <br />option may be exercised by LESSEES giving notice, in writing, of their intention to renew said <br />lease ninety (90) days prior to the expiration of the first option of the Lease, and shall be under <br />such terms as previously provided. <br />19. In the event of a termination of this Lease by the City of Paris, as permitted herein <br />during the primary term of said Lease, the City of Paris will be obligated to pay to LESSEES <br />1 /35th of the original cost of said hangar and apron, multiplied by the number of years <br />remaining in the primary term of this Lease, which ends February 28, 2031. In the alternative, <br />in lieu of payment for termination during the primary term of this Lease, the City of Paris may <br />agree to give LESSEES hangar space of equal quality, size and usefulness, at no expense to <br />LESSEES, for the remainder of the primary term of this Lease. <br />In the event that final termination of said Lease occurs during the first option, there shall <br />be no payment due LESSEES. However, the City of Paris may agree to give LESSEES hangar <br />space of equal quality, size and usefulness, and LESSEES are granted the right to lease such <br />substitute space for TEN (10) years for THIRTY -THREE THOUSAND SIX HUNDRED AND <br />N01100 DOLLARS ($33,600.00), payable as aforesaid. <br />Lease Agreement - page 6 <br />