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1989-063-RES WHEREAS,CITY COUNCIL ON 06.08.89, AUTHROIZED OUTDOOR RESOLUTION NO. 89-063 WHEREAS, the City Council of the City of Paris did heretofore on June 8, 1989, authorize the outdoor advertising lease with Bailey-Sterling Outdoor Advertising for the building and maintenance of a sign to be located on Lot 2, City Block 322; and, WHEREAS, Bailey-Sterling Outdoor Advertising desires to lease space for the building of an outdoor advertising sign on the terms and conditions set forth in Lease Agreement attached hereto as Exhibit A; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, That the City Manager of the City of Paris, Michael E. Malone, be, and he is hereby authorized and directed to execute on behalf of the City of Paris the Lease Agreement with Bailey-Sterling Outdoor Advertising, upon the terms and conditions and in the form attached hereto as Exhibit A. Passed and adopted this 12th day of June, 1989. e~~- Eric s~f K~ Mayor ATTEST: Mattie Cunningham, APPROVED AS TO FORM: ~ T. K. . " , >oy umney \... STATE OF TEXAS s LEASE NO. COUNTY.OF LAMAR S GROUND LEASE This Lease Agreement is made this 12th day of June , 19~, by and between City of Paris, by it.s City Manager, Michael E. Malone , hereinafter called "Lessor" and BAILEY-STERLING'- OUTDOOR ADVERTISING, a Texas general partnership, hereinafter called "Lessee". Lessor does hereby lease and demise unto Lessee that area and airspace, hereinafter called "Site", and more fully described on Exhibit "A", attached hereto, neeeisary for the: construction, erection and maintaining of one sign structure with advertising space of a size of 10'x30' , located upon the property belonging to Lessor described on Exhibit "A", attached hereto, for a term of ten (10) years for a consideration of 'I'h,..pp Hllnd,..ed and No/100 ($300 00) Dollars , to be paid/~~Rft2xi~ upon the conditions and covenants as follows: y a Y1. Lessor represents that he is the owner of this property and warrants that he has full authority to enter into this lease. 2. It is the understanding of the parties hereto, that visibility of this sign face Is) to the traveling public is of the essence and forms a significant element of the consideration underlying this Lease Agreement. Lessor, therefore agrees to refrain from causing or permitting if at any time, in the opinion of the Lessee, the sign face(e) is entirely or partially . obscured, of if automotive traffic is diverted or decreased so as to impair the advertising value of the location, or if Lessee is prevented by authorities having jurisdiction from constructing or maintaining said sign structure, Lessee shall have the right to terminate this lease upon fifteen days notice in writing to Lessor. 3. In the event that this Lease Agreement is ever terminated, Lessor shall refund to Lessee, within thirty days, any unearned rental paid in advance to Lessor. 4. Lessee and its authorized agents are hereby granted the right of ingress and egress to and from said Site over property owned or controlled by Lessor for the purpose reasonably necessary for the erection, maintenance, changing, or removal of said sign structure. 5. Lessor hereby grants to Lessee the right to establish or provide electrical power to said sign structure, and the right to sublet said Site, or to assign this Lease. 6. Neither Lessor nor Lessee shall be bound by any agreement or representation expressed or implied not contained herein. Following acceptance of this lease by both parties, it shall inure to the benefit of and be binding upon the parties hereto and their respective tenants, heirs, successors, personal representatives, executors, administrators and assigns. 7. It is agreed that all structures, equipment, materials and fixtures placed on said property shall be and remain the property and trade fixtures of Lessee, and 9. At the end of the term of this lease, Lessor and Lessee may renegotiate for an extension of this Lease, provided however, Lessor gives sixty (60) days written notice to Lessee prior to the expiration of this Lease of his intentions. If said written notice is not received from Lessor as described herein, then this Lease shall be renewed for a period equal to that of the original term upon the same term and conditions. 10. In the event of any change of ownership of the property hereby leased, Lessor shall notify Lessee immediately of such change, including the name, address and telephone number of the new property ownerl~), and Lessor shall give the new owners formal written notice of the existence of this Lease. In the event of such change of ownership the rental shall be paid to the new owner(s) at the next regular scheduled pay'period. ll. This lease is fully assignable by Lessee. In connection therewith, Lessor agrees that Lessee may pledge this lease and the leasehold interest hereunder together with Lessee's improvements located upon the leasehold as security for any loan owing or to be owed by Lessee, and in the event the secured party in said loan should take possession of the lease premises and the improvements located thereon, or should secured party or any third party obtain title to said leasehold estate and/or the improvements located thereon through foreclosure or any conveyance in lieu of foreclosure, Lessor agrees to substitute such third party or secured party as Lessee hereunder. Further, in connection with any such pledge of the leasehold and/or the improvements located thereon as security for any loan, the Lessor does hereby subordinate any and all landlord's liens held by it against the premises and/or the personal property and/or improvements located thereon belonging to Lessee, to any such liens aforementioned created by Lessee. 12. Special Conditions: CITY OF PARIS BAILEY-STERLING OUTDOOR ADVERTISING, Lessee By' Michael E. Malone, City Manager Lessor By: General Partner STATE OF TEXAS 5 COUNTY OF LAHAR 5 THIS INSTRUMENT was acknowledged before me: on the day of June , 19~, by Mi c.hael E. Malone. CitY.l1apager nf ~hp ~i~y nf P~Tig Lot 2, City Block 322, City of Paris, also known as 1605 N.E. Loop 286, Paris, Lamar County, Texas.