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5 V 1 -- WHEREAS, the aforesaid depot structure has been completed and the Chamber and its related activities have occupied said structure, and the prior Chamber offices, previously defined above as the Property, are standing vacant and have been offered for sale; and, WHEREAS, during the course of the reconstruction and rehabilitation of the Depot structure, the City of Paris incurred substantial costs, not covered by the aforesaid TxDOT grant, in furtherance of completion of the Depot, said costs being incurred on behalf of and to be reimbursed by the Visitors and Convention Council; and, WHEREAS, as a result of the offering of the Property, the Chamber has received an offer of $200,000.00 to purchase the entire Property, including the undivided seven - tenths (7/10) interest owned by the Lamar County Chamber of Commerce and the undivided three - tenths (3/ 10) interest owned by the City of Paris; and, WHEREAS, the City of Paris and the Lamar County Chamber of Commerce are in mutual agreement that the proceeds from the sale of the Property should be used to construct a myriad of other improvements to the Depot property, to the mutual benefit of the City of Paris as Owner and the Chamber of Commerce as Lessee of the Depot property; and, WHEREAS, it is deemed appropriate that the Real Estate Purchase Agreement, attached hereto as Exhibit A, be in all things approved and that the Mayor be authorized to execute the same; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That a Real Estate Purchase Agreement by and between the City of Paris and the Lamar County Chamber of Commerce, a copy of which is attached hereto and for all purposes incorporated herein as Exhibit A, for the purchase of the City of Paris's three - tenths (3/ 10) interest in and to Lot 1 of City Block No. 102 and Lots 2 and 2 -A of City Block No. 102 -B, located at 1651 Clarksville Street, Paris, Texas, be, and the same is hereby, approved. Section 3. That the Mayor be, and he is hereby, authorized and directed to execute, on behalf of the City of Paris, the Real Estate Purchase Agreement with the Chamber of Commerce, under the terms and conditions and in the form shown in Exhibit A, attached hereto. Section 4. That this resolution shall be effective from and after its date of passage.