1988-005-RES WHEREAS, AGPRO, Inc., a lessee of the City of Paris has requested that the City of Paris subordinate its
RESOLUTION NO. 88-005
WHEREAS, AGPRO, Inc., a lessee of the City of Paris has
requested that the City of Paris subordinate its Landlord's
Lien upon equipment listed on Exhibit A, attached hereto,
which equipment is to be installed upon property owned by
the City of Paris and leased to AGPRO, Inc; and
WHEREAS, it would be right and proper to subordinate
the City's Landlord Lien in favor of Mid-America Dairymen,
Inc. the company installing and financing the equipment
described on Exhibit A, attached hereto; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PARIS, that the Mayor if the City of Paris, Billy Joe
Burnett, be, and he is hereby authorized and directed to
execute on behalf of the City of Paris, the Landlord's
Subordination Agreement in favor of Mid-America Dairymen,
Inc. upon the terms and conditions and in the form attached
hereto as Exhibit A.
Passed and adopted this 11th day of January, 1988.
~~L~7f-
B~ oe Burnett, Mayor
ATTEST:
~~\ ,", ~\~\'^""~~)
Mattie Cunning am, Cit C erk
~~ TO FORM,
. ;0 ~<C?
T. K. Haynes, ity Attorney
SUBORDINATION AGREEMENT
STATE OF TEXAS ~
COUNTY OF L~4AR ~
\.JHEREAS, on the 9th day of Augus t, 1971, the City of
Paris, Paris, Texas did grant to AGPRO, Inc. options to
lease three tracts of land containing in all approximately
410 acres; and,
WHEREAS, AGPRO, Inc. exercised the option
for fifteen year period beginning August 14,
exercised its option for the remaining 400
concurrent expiration date of Tract One; and,
for Tract One
1972 and did
acres with a
WHEREAS, on the 12th day of March. 1986, AGPRO, Inc.
exercised its option for an additional ten year period
beginning August 9, 1986, and ending August 8, 1996; and,
WHEREAS, AGPRO, Inc. subleased to Lone Oak, Inc. which
is desirous of placing equipment described on Exhibit A,
attached hereto, financed and installed by Mid-America
Dairymen, Inc. upon the leased premises and request the City
of Paris to subordinate its Landlord's Lien with regard to
said equipment; NOW, THEREFORE,
KNOW ALL MEN BY THESE PRESENT: That the City of Paris,
Pursuant to a duly adopted resolution of the City of Paris,
acting by and through its duly authorized Mayor, Billy Joe
Burnett, and attested by the City Clerk, Mattie Cunningham,
has and does hereby subordinate in favor of Mid-America
Dairymen, Inc., in consideration of its financing and
installing the equipment described on Exhibit A, attached
hereto, the Landlord's Lien it has and will hold against the
equipment described on Exhibit A, attached hereto, by virtue
of its lease agreement aforementioned, so that any security
agreement or any other security document granting a lien or
the right to foreclose upon a lien or the right to take
possession and remove from the premises in the event of
default by Lone Oak, Inc., the property described on Exhibit
A, attached hereto will be a first and prior lien thereon
securing the payment of the cost, the installation cost and
the financing cost of furnishing and installing equipment
described on Exhibit A, attached hereto, not only to the
original indebtedness but also all renewals and extensions
thereof, partial or otherwise; further agreeing that the
equipment described on Exhibit A even though the same be
affixed to shall not be integrated into the real estate but
will remain personal property so long as any portion of the
financed amount for such equipment remains unpaid.
Should Lone Oak, Inc., default in the payment of the
indebtedness contemplated to be created by it in favor of
Mid-America Dairymen, Inc. for the purpose aforementioned,
and if Mid-America Dairymen, Inc. should institute
foreclosure or repossession proceedings, it may dismantle
the furnished eq~i~ment described on Exhibit A and remove it
Witness the execution hereof, this 11th day of January,
1988.
CITY OF PARIS
BY:
Billy Joe Burnett, Mayor
ATTEST:
~.,~'-~~
att~e unn~ng am, ~ty er
STATE OF TEXAS ~
COUNTY OF LAMAR ~
BEFORE ME, the undersigned authority, on this day,
personally appeared Billy Joe Burnett, Mayor of the City of
Paris, known to me to be the person whose name is subscribed
to the foregoing instrument, and acknowledged to me that he
executed the same for the purposes and consideration therein
expressed, as the act and deed of said City and in the
capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE, this 11th day
of January, 1988.
Notary Public, State of Texas
Printed Name: Terry K. Haynes
My commission expires 12-14-88
1. 1 Schleuter Jumbo Receiver with 1 hp pump (#6F80)
2. 8 Boumatic Milkers
3. 8 CIP units with stainless steel holders.
4. 6 Dual Westfalia Pulsators (No. 's 3322772,
3322774, 33227780, 3322779, 3322784, 3322785).
5. 1 24 Volt Transformer
6. 1 3" SS milk line with fittings and brackets.
7. 1 2" SS wash line with fittings and brackets.
8. 8 Vandenberg Radial Arm Hose Supports.
9. 1 Used 10 hp Boumatic Vacuum Pump with oil
reclaimer (#325-6ZE).
10. 1 5 HP Air Compressor with 20 gallon tank.
(#46-8843).
11. 1 PVC Blance Tank
12. 1 Equalizer II Vacuum Controller
13. 1 Used 700 Gallon Mueller Model M Milk Tank
(#M23112) .
14. 1 Used 5 HP condensing unit (#AG-155-0l7).