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1994-032-RES WHEREAS, RED RIVER VALLEY FAIR ASSOCIATION HAS CITY COUNCIL TO SUBORDINATE RESOLUTION NO. 94-032 WHEREAS, the Red River Valley Fair Association, Inc. has requested the city Council of the City of Paris, to subordinate its landlord's lien upon a 0.24 acre lot upon which a 40 foot by 100 foot combination exhibit and office building is to be constructed which lot is near Center Street upon fairground property heretofore leased to Red River Valley Fair Association, Inc., as authorized in Resolution No. 87-006, with its term extended as authorized in Resolution No. 89-036, each of the City of Paris; and, WHEREAS, the City of Paris wishes to continue to encourage the Red River Valley Fair Association, Inc., to improve the fairground property by construction of new buildings and is therefore agreeable to subordinate its landlord lien as requested, upon the terms and conditions described in the form of the Subordination Agreement attached hereto as Exhibit A; NOW, mEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, that the Mayor of the City of Paris, George Fisher, 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 the First National Bank of Paris, Paris, Texas, upon the terms and conditions and in the form attached hereto as Exhibit A. PASSED AND ADOPTED this 11th day of April, 1994. ATTEST: Mattie Cunningham, City Cl S TO FORM: AGREEMENT TO SUBORDINATE LANDLORD'S LIEN STATE OF TEXAS } COUNTY OF LAMAR } WHEREAS, on the 12th day of January, 1987, a Lease Agreement was made and entered into by and between the CITY OF PARIS, a municipal corporation, of Paris, Texas, as owner and Lessor, and REO RIVER V ALLEY FAIR ASSOCIATION, INC., a corporation, as Lessee, covering the property and premises in Lamar County, Texas, commonly known as the Fairgrounds and being described in Exhibit A attached hereto and incorporated herein for all purposes; and, WHEREAS, Red River Valley Fair Association, Inc., is arranging for the construction and erection of a 40 foot by 100 foot combination exhibit and office building to be located on the fairground property, construction and erection of the structure will have to be financed and the debt secured by a security agreement and financing statement on and against the property described on Exhibit B attached hereto, and in order to obtain such financing it is required by the lenders that the City of Paris subordinate its landlord's lien created by the execution of the aforementioned Lease agreement; and, WHEREAS, the First National Bank, as the financial institution providing the financing for the construction and erection of the combination exhibit and office building is requiring additional security in the form of the exhibits buildings which is located on property described on Exhibits C and 0 attached hereto, and it is necessary that the City of Paris' landlord's lien created by the same above described lease, be subordinated to the security instruments securing the financing for the construction and erection of the combination exhibit and office building; and, WHEREAS, the construction of the combination exhibit and office building will be of substantial value and benefit to the City of Paris and its citizens; NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS: That the City of Paris, pursuant to a duly authorized resolution, being Resolution No. 94-_, acting by and through its duly authorized Mayor, George Fisher, and attested by the City Clerk, Mattie Cunningham, has and does hereby subordinate in favor of First National Bank of Paris, in consideration of its lending Red River Valley Fair Association, Inc., as much as but not more than NINETY-NINE THOUSAND AND NOnOO DOLLARS ($99,000.00), to refinance the balance of $19,000 owing on the 1989 note in the original amount of $60,000 and to finance the construction of a combination exhibit and office building to be constructed on the property described on Exhibit B attached hereto, the landlord's lien it has and will hold on the newly constructed combination exhibit and office building, and the existing exhibits buildings, by virtue of its lease agreement aforementioned, so that the security agreement and the financing statement in favor of First National Bank of Paris, will be a first and prior lien against said newly constructed combination exhibit and office building and the existing exhibits buildings described and located upon Exhibits B, " . , _ _'-_ L_ ___..__ .L~ ~_:"':...nl :...A",h.",r1nol'l' hilt ~It'f\ ~11 institute foreclosure or repossession proceedings, the lenders may dismantle the existing improvements and the improvements contemplated by this loan and/or remove it and its contents from the above described tract of land without thereby incurring any kind of obligation to the City of Paris (unless it should, having received ten (10) days prior notice of the intended removal dismantling, elect to and within a reasonable time thereafter pay to the First National Bank of Paris, the full amount then owing to it by Red River Valley Fair Association, Inc., principal, interest, court costs, and attorneys fees, if any. Notice of acceptance hereof by the First National Bank of Paris is expressly waived. WITNESS the execution hereof in triplicate, this 11 th day of April, 1994. CITY OF PARIS, PARIS, TEXAS George Fisher, Mayor ATTEST: Mattie Cunningham, City Clerk APPROVED AS TO FORM: T. K. Haynes, City Attorney STATE OF TEXAS } COUNTY OF LAMAR } BEFORE ME, the undersigned authority, on this day personally appeared George Fisher, 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 _ day of April, 1994. Notary Public, State of Texas STATE OF TEXAS ~ ~ ~ KNOW ALL MEN BY THESE PRESENTS: . COUNTY OF LAMAR LEASE AGREEMENT BETWEEN the CITY OF PARIS, a municipal corporation, herein called LESSOR, and RED RIVER VALLEY FAIR ASSOCIATION, INC., n Texas Corporation, herein called LESSEE, executed in duplicate the t)L1.:- day of January, 1987, witnesseth: The leased premises consist of the following described property of Lessor in Paris, Lamar County, Texas, namely: BEGINNING at the intersection of the N.B. line of Hickory Avenue with the W. B. Line of Fitzhugh Avenue, also designated as 9th St., N.E., the same being the S.E. corner of a 12 acre tract of land sold to the Lamar County Fair Association by N. E. Clement Estate in 1936, described in deed recorded in Vol. 245, Page 575, Lamar County Deed Records: THENCE North 1501.5 feet to the N.E. corner of said 12 acre tract, same being the S. B. Line of Clement Road, said Clement Road being 60 feet in width; THENCE West at 380 feet to the N.W. corner of said 12 acre tract, same being the N.E. corner of a tract of land purchased by the Lamar County Fair Association in 1916, described in deed recorded in Vol. 160, Page 322, Lamar County Deed Records, continuing West in all 1710 feet to the N.W. Corner of Block No. 31, Fairview Addition to the City of Paris, same being the E. B. line of 3rd St., N.E., same being the most Northerly N.W. corner of a tract of land purchased from H. E. Clement in 1921 out of the Fairview Addition and described in deed recorded in Vol. 199, Page 311, Lamar County Deed Records; THENCE South 1356 feet to the E. B. Line of 3rd St., N. E., to the N. B. Line of Hi.ckory Avenue; THENCE East with the N.B. line of Hickory Avenue approximately 804.0 feet to the S.W. Corner of the Emmett Reece Ball Field property; THENCE North 600 feet; THENCE East 600 feet; THENCE South 600 feet; THENCE East 300 feet to the place of begin- ning. SAVE AND EXCEPT the following described tract of land: -, Situated within the corporate limits of the ,. _ . ...... 1 t drainage ditch. 460 feet to said point of begin- ning. THENCE North 880 30' West 287 feet to a point; THENCE South 10 30' West 84 feet to a pOini; THENCE North 880 30' West 477 feet to a point, same being in the East Margin of 6th Street, N.E.; THENCE in a Southerly direction with the East Margin of 6th St., N.E., 16 feet to a point; THENCE South 880 30' East 477 feet to a point; TRENCE South 10 30' East, 200 feet to a . pOlnt; THENCE South 880 30' East 297 feet to a point in the center line of a drainage ditch; THENCE North 20 00' West with the center line of the drainage ditch 300 feet more or less to the place of beginning, containing 2.19 acre3 of land more or less. The term of this lease is ten (10) years, beginning on the 1st day of January, 1987, and ending the 31st day of December 1996. IN CONSIDERATION of the leasing and letting of said premises and the use and occupancy thereof by Lessee, Lessee agrees to effect and perform repairs to existing buildings, structures and other improvements and to make additional improvements on the leased premises to the extent of ten per cent (10%) of its annual gross receipts, Lessee hereby agreeing to expend for such purposes the sum herein set out during each year of this agreement, the total amount to be expended by Lessee for such purposes during the term of this lease to be not less than ten per cent (10%) of its total gross receipts for the ten year period coverp.d by this agreement; provided however, that in the event Lessee expends in excess of ten per cent of its gross receipts during anyone year hereof for such purposes, such excess may be credited on the total amount to be expended by Lessee hereunder. The term "gross receipts" shall mean the total receipts of Lessee from all sourc.~~ hv ,.PlH:nn nf t'hC ,,~c nF (1) That Lessee will, at its sole cost and expense, effect repairs to all existing buildings and'structures on the leased premises, as speedily as it can finance' same, so that same will be safe and suitable for the purposes for which they may be used by Lessee and will keep and maintain same in good, safe and sanitary condition. (2) That no repairs, improvements or changes in location or otherwise, will be made to any buildings, structures or other things located thereon nor will any new structures be placed on any part of the leased premises without the prior approval of Lessor. (3) That Lessee, for the benefit of Lessor, will keep all buildings\and other insurable improvements on the leased premises insured against loss by fire, lightning and all risks included in the term "extended coverage" to the full extent of their insurable value, and shall pay all premiums due thereon when due. It is expressly provided that such insurance policy or policies shall and must be written and .... issued by a reputable insurance company or companies, subject to approval by the City Attorney of the City of Paris, and Lessee or its insurance carrier or carriers shall deliver a copy of any such policies to the City Clerk of the City of Paris, or furnish to said City Clerk a current letter or certificate from such company or companies, evidencing the fact that such insurance is in full force and effect at all times during this lease and any extension thereof. (4) That Lessee will pay for all lights, water, heat and/or other utilities used on the leased premises. (5) That all buildings, structures, additions, (6) That Lessee will deliver to Lessor annually a verified copy of the audit of its books and' accounts not later than thirty (30) days after December 1st of each year or part of a year covered by this lease. (7) That Lessee will not sublet the rented premises or any part thereof without the consent in writing of Lessor first had and obtained, provided, however, that such consent may be given by the City Manager in the event such sub- letting shall not exceed one week. (8) Lessee agrees to indemnify, save, keep and hold harmless Lessor from and against any and all demands, debts, liabilities, suits, claims and causes of action of every kind and character whatsoever for damage or injuries to persons and/or property occurring on the leased premises resulting from Lessee's use, Lessee's sub-lessee or any tenant of Lessee, and Lessor shall not be liable to Lessee, its employees, invicees, patrons, licensees or visitors due to the buildings or other structures thereon being improperly constructed or being or becoming out of repair, Lessee hereby waiving any defects therein and agreeing to hold and save Lessor harmless from all claims for any such damages or injuries, and Lessee shall and must at all times during the term of this agreement, and any extensions thereof, keep and maintain in full force and effect a policy or policies of insurance, providing at least $100,000.00 per person and $300,000.00 for any single occurrence for bodily injury or death and $100,000.00 for any single occurrence for injury to or destruction of property indemnifying all persons for any and all damages, personal injuries or property damages sustained in or upon the premises of said -, must be written and issued by a reputable insurance company or companies, subj ect to approval by the City' Attorney of the City of Paris, and Lessee or its insurance cartier or carriers shall deliver a copy of any such policies to the City Clerk of the City of Paris, or furnish to said City Clerk a current letter or certificate from such company or companies, evidencing the fact that such insurance is in full force and effect at all times during this lease and any extension thereof. (9) That Lessor shall not make or be liable for any repairs or improvements of any kind on the leased premises during the term of this lease. (10) That Lessee take good care of the rented premises . and all buildings and structures thereon and be responsible to Lessor for any damage or injuries thereto caused by Lessee or those under it. -. (11) That Lessee conform to and observe all sanitary rules, regulations and laws of the State of Texas and ordinances of the City of Paris applicable to the leased premises and not use or permit the same to be used for any unlawful or illegal purpose. (12) Should Lessee default in, or fail or refuse to keep any of the covenants, conditions, stipulations and/or I provisions ~herein contained, notice thereof shall be given to Lessee by Lessor, and in the event such default, failure or refusal has not been corrected or performed within ninety (90) days from the date of such notice, then this lease contract may be terminated at Lessor's option, and it shall be lawful for Lessor to re-enter the leased premises and remove all persons, property and effects therefrom, all and (14) In the event Lessee shall keep eacn and every agreement contained herein and do and perform atl the obligations required of it hereunder during the term of this lease, an option is hereby given and granted to Lessee to renew and extend this lease for an additional period of ten (10) years from and after the expiration of this agreement, which option may be exercised by Lessee giving notice in writing of its intention to renew said lease ninet)' (90) days prior to the expiration of the primary term of the lease. (15) Lessor is given and granted the right to place streets or utilities or drainage appurtenances in, on or under any of the property herein leased to the RED RIVER VALLEY FAIR ASSOCIATION, INC. (16) That Lessor shall have the right and privilege of using any portion of said property so leased for functions sponsored by the City of Paris or any department thereof, which function has been approved by the City Council of the City of Paris, all of which functions shall be conducted on a non-interfering basis with the annual Fair conducted by the Red River Valley Fair Association, Inc. (17) That Lessor shall have the right and privilege at its option to terminate this lease as to any part of the realty not improved with buildings, including reasonable access to such buildings, for necessary municipal functions, such as enlarging the fire training area, erection of municipal facilities, construction of streets or for other municipal functions. In the event of any of the above contingencies, Lessor ". IN WITNESS WHEREOF the undersigned have executed this lease agreement. CITY OF PARIS By: ATTEST: LESSOR RED RIVER VALLEY FAIR ASSOCIATION, INC. -, ATTEST: ~L~l~~ Steve · over I - ecret ry ..... LESSEE I I 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 mr. to be the person whose name is subscribed to the foregoing instrument, and acknm'lledged to me that the same was the act of the said City of Paris, a municipal corporation, and that he executed the same as the act of such municipal corporation for the purposes and consid- eration therein expressed, and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE, this the ~ day of January, 1987. otary u 1 te ~ Printed Name.' e,y, :.s Commission EXPire~-p<~ STATE OF TEXAS ~ COUNTY OF LAMAR ~ BEFORE ME, the undersigned authority, on this day personally appeared Rita Jane Haynes, President of the Red River Valley Fair Association, Inc., known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that the same was the act of the said Red River Valley Fair Association, Inc., and that she executed the same as the act of such association for the purposp.s and consideration therein expressed, and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE, this /;j~ day of January, 1987. .. CI~re~ 'I' q .~ 1r ~ '" ~ ~ l ~ N .~ ~ ~ . b I t , ~. , ~ 0 .~ Q Q l 0 .... ~ "'- '" , q; > , \f ~ ~ . ,.. t:.~c.. 0.. \ ~ · $87.4-r'c ) ,. " ~. , \1\ 1" = 30' (f) = found (s) = set .5"r. ., -\ FIELD NOTES '-1 , Situated within the Corporate Limits of the City of Paris, County of Lamar, and State of Texas, a part of the Reddin Russell Survey #786, and being a part of a tract of land owned . by the Ci ty of Paris, and said tract being a part of block 17, Fairview Addition, and also a part of 5th N.E. (not open). Beginning at an iron pin (s) for corner in the South Boundary Line of Center St. , said point being North 87 Deg. . 45 Min. West a distance of 219.4 ft.: from the intersection of the South Boundary Line of Cente~ St. and the West Boundary Line of 6th N.E. Thence South 6 Deg. 07 Min. ;East along the center of a power line a distance of 139.8 ft. to a power pole (f) for corner; Thence South 83 Deg. 53 Min. West a distance of 48.5 ft. to an iron pin (s) for corner; Thence North 23 Deg. 35 Min. West along a chain link fence a distance of 161.5 ft. to an iron pin (s) for corner; Thence South 87 Deg. 45 Min. East along the South Boundary Line of said Center St. a distance of 98 ft. to the place of beginning and containing 10514.73 sq. ft. (0.24 acres) of land. .. V A&.J. t., (,...1T' t ~ (I/.fU W~ ~c.t.J '" .,...,.. - " " V' t- o , ~ I, J.M. Nelson, Registered Professional Land Surveyor of Texas, '4025, certify that the above depicted and described tract of land was taken from an actual survey made on the ground and completed by me on the 7th day of April, 1994. It',4-' t ' , l' GO l)'" . .. 0- "" r.f .... +' 46' 40' . '" ... , .,. tl , ~ '# 9' SB3.~3' vJ ~4s.S' '\ . \ ,,Y' : \ ,1':/11. AIL- 1.7-11- date J.M. Nelson, R.P.L.S. of Texas, '4025 EXHJ6.l1 B ...-.~ 214/885-1641 Lynn Swanner, Inc. ENGINEERING . SURVEYING 0.41 ACRE TRACT REDDING RUSSELL SURVEY A-786 CITY OF PARIS, TEXAS LAMAR COUNTY, TEXAS FIELD NOTES All that LEASEHOLD ESTATE 1n and to a certain lot, tract or parcel of land situated 1n the Redding Russell Survey A-786 located in the City of Pari~, Lamar County, Texas being out of that certain 62.5 acre tract described in a deed to the City of Paris dated July 17, 1945 recorded in Vol. 274 page 432 of the Deed Records of Lamar County, Texas and being more particularly described as followsl BEGINNING at a 'J/8" iron stake in the EBL of 6th Street N.E., said point being N 00 JO' W - 722.95' from the intersection of the EBL of 6th Street N.E. and the NBL of Hickory Ave.1 TIIENCE N 00 JO' W along the EBL of 6th StreetN.E. - lBO' to a J/B" iron stakeJ THENCE N B90 JO' E - 100' to a J/B" iron stakeJ THENCE S 00 JO' E -lBO' to a J/B" iron stakel THENCE S B90 JO' W - 100' to a J/B" iron stake in the EBL of 6th Street N.E. being the POINT OF BEGINNING and containing 0.41 acre of land more or less. . I, Lfnn Swanner, Registered Public Surveyor in the State of Texas certify the above survey was performed on the ground and 1s true and correct to the best of my knowledge and that there are no visible easements or encroachments other than those shown hereon. Dated this the lOth day of April, 19B9 ~~~' ,,' ,'tf"'-..... ',', . '\ . . ',; - . fIll'" ... t' " I '1/ U u oJ - I U 'I I Lynn Swanner, Inc. ENGINEERING. SURVEYING N89030'!E /00' .. , ~ 25 rl W-l 30' ... .. G j (j OJ ~ .. ....... () r ..... ~ rn ltJ ~ ~ ~ ...... ~ ...... i ~~ ~ ~ ~ ~ '\ - \) ~ r 1 ~ U) ..... Q j -J r ~ ~ (() .. 3d ~ ~ L~L-I. rn 0 -. \n a .. lS) ~1 '2 \9 /00' PO/NT Or BEE~/NNIN(i, .. ~ ~' ~ ~-- I I --- ------ -- --- .. li) (\/ , """"~ '-_,' .J., ,,.- </~(3 0 4l' < ( ) , , 0', t 7 t. r<< 0, () Z': 0, l.., J 11 G. eEf/rEte AVE, '\ # .., N - I . a " '" to ... 7S' I ~.f: FIELV NOTES N88-4J'W , . , . SUuo..ted w~th1t the COllpolrAte UJnL' o~ the cu.y 06 PaJtJ.A, Corin.ty 06 Lamall., and State 06 T eXM, a paJLt. 06 the. RedrU, \ij' Ru.6~eU SuAvey 1786, and bUng a pOJt.t 0, , ~ lotA 2,3, and S, and all. 06 lot 4, blocl , .18, 06 the FcWr.v.tePJ AdcLUi.on, ~a..td Addi... t10n bung duly lI.ecoILded .tn the PlAt Re. , COII.d& 06 uud County and State. , Beghtn1.ng at an .<Aon pin 6011. COllnv, a..t the NoM.hetU.t. COIU1M, 06 ~a1.d lot 4. Thence NolLth' 88 De.g. 4 S Mln. WeAt along the South BoundallY Une 06 CentVL Ave. a.t 62 6t. pa-6lJi.ng .the. Nolt.t/lWeAt. c.oILneJL 06 lJai.d lot. 4 and t.he. NoJLtheaJ.t , . " COIutVL 06 lJa..td lot Sand con.tOiuhtg on a ',' I , toto.! cU.6.tance. 06 15 6t.. t.o an i.lLon pi.n I. N 11/". 6011. C.OlU1e1Li , . . i ":,' '}l Thence SolLth 0 Veg. 30 Min. ftUt a..i . , " ' .' ',' ..', ' 145 6t. pM~~ng, the. NoJt:th BoundaJr.y U.ne I ",' , I " I. ,:, \9 06 an Alley and a.t 157 61.. pa-6~.i.ng t.he. , , , ,', . Soui.h BoundoJr.y Une 0 6 ~al.d All.ey and :' conUroung on a t.oto.! di...6t.ance. 06 170 6,t , ,I ',to an hLon pin. 6oll. c.Oll.nVti , , Thence. South, 88 Peg. 4S Min. Ea-6t at 13 6t. p~~.tng .the. E~t Bound4llY ~e. . , 06 Mud l.ot 2 and the. WeAt Boundalty Wtt., o 6 ~al.d lot 3 and cow.nulng on a totaL. -:. cU6.tance. 06 1S 61.. to an\ .ur.on pin 601L COlU1eJLj . , "i' Thence NoM.h 0 Veg. 30 Mi.n. ccut along the. WeAl. BOl.l{ld4llY LUte. 0 6 6~h N. E. at 13 61.. paJ~.i.ng the NolLthe.a-6t c.OlLneIL o 6 ~cUd l.ot 3 and at 25' 6t. pa-6~i.ng .the. SoutheaJt C.OlLneIL' 0 6 ~a1.d lot 4 and con- ,. I , ( / z r · ti.nlUng on a total. cU6.tance. 06 170 61.. .. ~. ~' · to the plac.e. 06 beg.tnn.i.ng and c.on.W.n.&lg 293 dC/leA 06 l.and, wh.i.ch i.ncludt6 0.021 aC/l.M .in lJa1.d Alley. I, J.M. Nelson, Registered Public Surveyor of Texas, No. 4025, certify that the above depicted and described tract of land was taken from an actual i,urvey made by me on the gro,und on th~' 10th day 06 Septemb~, 1982, 1hP.t. ~e unpllove;nen.u IJhown theJLeon, aJte cOMed,. ' ,'F' //1 1 / . r V.. /1'1. /V' ~ , ~ J . M . N e 1 son, . R . P . S. No. 4 0 2 5' ~.r/ , So. z. · . ,<I f'- ... , , ) t. Scale:/":Jo' " . , : " . , ,V{ ~ \J ,~ . IJ.,' ... . . ~.. . . . ".0 . ': ' "" ' , " ~, ~. , " , . . , , , I-- , \J pol '0 .... -"'" . () "l - - --- ----- -5".%,.'- . ,. .188-4.1'( i iTATE OF TEXAS' :OUNTY OF LAMARI BEFORE ME, the undersigned authority, a Notary Public in and for said :ounty and,State, on this day personally appeared J.M.' Nelson, known to me' :0 be the person whose name is suscribed to the foregoing instrument, and Icknowledged to me that he executed the same for the purpose and considera- :1on therein expressed. ' , , GIVEN UNDER MY HAND AND SEAL OF OFFICE, this the 13th day,06 SeptembeA, 1912. W'~'. 0~.,,~ .,