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885 <br /> <br /> established by the Lamar County Appraisal District, whichever mount shall be greater, <br /> with a loss payable to PEDC as its interest may appear. <br /> <br />4. That, in the event of default on the promissory note approved by PEDC of even date <br /> herewith and as described herein, said note shall become a personal liability of David D. <br /> Hickerson of Franklin County, Texas. <br /> <br />5. That venue on any controversy arising under this agreement or with regard to the aforesaid <br /> note shall lie exclusively in Lamar County, Texas, and shah be subject to and resolved in <br /> accordance with the laws of the State of Texas, and in the event of enforcement of said <br /> note by the payee, the maker shall be liable for reasonable attorney's fees incurred by the <br /> holder for enforcement thereof. <br /> <br /> DATED this 16th day of April, 2003. <br /> <br /> PARIS ECONOMIC DEVELOPMENT <br /> CORPORATION, INC. <br /> <br /> By: <br /> Jay Guest, President <br /> <br />ATTEST: <br /> <br />Curtis Fendley, Secretary-Treasurer <br /> <br />APPROVED AS TO FORM: <br /> <br />Larry W. Schenk, City Attorney <br /> <br /> PARIS PACKAGING, INC. <br /> <br /> By: <br /> David D. Hickerson, President <br /> <br />ATTEST: <br /> <br />Secretary <br />