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16i <br />BEGINNING at n point in tale center line of a <br />drainage ditch, said ditch beino- locnLcd between <br />Hickory Street and Clement Road, and the beginning <br />point being %Vest 260 feet front the SOUCllwest Corner <br />of the intersection of F itzhugh ,,�ve.nuc and Clerilent <br />Road (the Northeast Corner of Block 256) and also <br />being S 2° 00 E along the ccrltcrlirle of a drainage <br />ditch, 460 feet to said point of beginning. <br />THENCE North 88° 30' West 287 feet to a point; <br />THENCE South 10 30' West 84 feet to a point; <br />THENCE North 88° 30' West 477 feet: to a point, <br />same being in the East Markin of 6th Street, N. E. ; <br />THENCE in a Southerly direction with the East <br />Margin of 6th St. , N. E. 16 feet to a point; <br />THENCE SOUth 88° 30' East 477 feet to a point; <br />THENCE South 1` 30' East 200 feet to a point; <br />THENCE South 880 30' East 297 feet to a point in <br />the center line of a drainage ditch; <br />THENCE North 2° 00' West with the center line of <br />the drainage ditch 300 feet more or less to the place <br />of beginning, containing 2. 19 acres of land more or <br />less. <br />17he term of this lease is ten (10) years, beginning on the <br />lst day of January,' 1981 and ending the 31st Slav of Decen)ber, 1990, <br />IN CONSIDERATION of the leasing and letting of said premises <br />and the use and occupancy thereof by Lessee, Lessee agrees to effect <br />and perform repairs to existing buildings, structures and other im- <br />provements and to make additional inlprovcrllents on t11c leased pre - <br />miser to the extent of ten per cent (10jo) of its antlual gross re- <br />ceipts, Lessee hereby agreeing to expend for such purposes the sum <br />herein set out during each year of this agreement, tile' total aMount <br />to be expended by Lessee for such purposes during the term of this <br />lease <br />to be not less than ten per cent <br />(10J) of <br />its total gross re- <br />ceipts <br />for the ten year period covered <br />by this <br />agreement; provided <br />however, that in the event Lessee expends ill excess of ten per cent <br />of its gross receipts during any one year hereof for such purposes, <br />such excess may be credited on the total amount to be exlx,n, led by <br />Lessee hereunder. 11-le term "O'ross receipts" shall mean thy_. total <br />receipts of Lessee from all sotn.-ces by reason of the use oi' the <br />rented premises. <br />:... <br />