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977 RES CITY COUNCIL ON 14TH DAY OF NOVEMBER 1957 EXECUTED WRITTEN LEASERESOLUTION NO. 977 . WHEREAS, the City Council of the City of Paris, by and through its duly authorized City Manager, did, on the 14th day of November, 1957, execute a written lease with Leslye Lewis Sanders, a widow, leasing certain tracts of land described as follows: I Lying and being situated in the City of Paris and the County of Lamar and State of Texas, and being described in two tracts: Tract A. Being a parcel of land fronting 123 feet on the N.B. Line of West Price Street and 119 feet on the E.B. , Line of 1 st Street, N. W. and being fully described as tollow s: Situated within the corporate limits of the City of Paris, Lamar County, Texas, in Gity Btock 41, and being also a part of that particular tract of land conv2,}red James L. Lewis, Jr. , from L. A. Pickett and wife, Bess ~kett, on the' 3rd day of June, 1946, by deed recorded -in Book 289, Page 477, Lamar County Deed Records. f%"k Beginning at the South West corner of the aforesaid tract, which is a stake in the North Boundary Line of Price Street and the East Boundary Line of lst "St., N. W. (formerly North Wall Street); Thence North with the East Boundary Line of 1 st St., N. W., 119 feet an existing fence post; _ Thence North 88 degrees and 50 minutes East 110 feet a stake; Thence South 121 feet to the North Boundary Line of Price Street; Thence West with the North Boundary Line of Price Street 110 feet to the place of beginning. There is also included in Tract A the following described tract: Lying and being a strip immedia,tely West and adjoining the above tract and extending from the W. B. Line cf the ` above tract to 25 feet West of the East Curb Line of 1 st St., N. W., in the City of Paris. ' That in the event the exercise to purchase Tract A is exercised by the City of Paris, the 25 foot strip above will be conveyed f by special warranty deed because' of a cloud upon said 25 feet due to a prior dedi- cation for street purposes of a portion of the 25 feet. Tract B. Being a parcel of land lying immediately North of Tract A and adjoining Tract A, and fronting 96 feet on the E. B. Line of lst Street9 N. W. and having a depth of 140 feet, and being fulTy described as follows: Situated the same as Tract 1 above and lying adjacent to it and directly North of it. Beginning at a sta,ke in theEast Boundary Line of 1 st St., N. W, , 119 feet North of the North Boundary Line of Price Street; Thence North 97 feet, a stake; Thence Ea,st 124 feet, a sta.ke; Thence South 95 feet; Thence South 88 degrees and 50 minutes West 124 feet to the place of beginning. There is also included in the above Tract B a strip lying immediately West of and adjacent to the above tract and being a strip 25 feet wide and running the entire dis- tance of the above tract or 97 feet North and South and extending West to the East Curb Line of 1 st St., N. W. That in the event the exercise to purchase Tract B is exercised by the City of Paris, the 25 foot strip above will be conveyed by special warranty deed because of a cloud upon said 25 feet due to a prior dedi- cation for street purposes of a portion of the 25 feet. for a period of five (5) years, and in which lease the City of Paris ob- ta,ined an option to purchase the above described tracts of lancl, for the sum of $15, 000. 00, at any tixne during the five-year period of said lease; and, WHER.EAS, the City of Paris has been using such properties for an off-street metered parking lot, and whereas, it is desirable to con- tinue to do` so, and is to the interest^ of the City of Paris to purchase said lots, and which lots are the only properties avaiia,ble for such pur- poses; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, That the City Manager, H. C. Kennemer, be, and he is hereby authorized and directed to exercise 'said option, and to pay to the lessor in said lease the sum of $15, 1000. 00, payable $5, 000. 00 in cash, and to borrow the suzn of $10, 000. 00, payable $5, 000. 00 annually, from The Liberty National Bank in Paris, secured by a vendor=s lien on the property. The City M'Sa,nager is hereby authorized and directed to execute all the necessary loan papers in order to consummate said deal. Passed and adopted this l lth day of September, A. D. , 1961. s ~ . ~ . Ma yo r ATTEST: A City Clerk APPROVED AS TO FORM: r City Attorne .