2017-021 - Addendum to Tax Abatement Agreement with JS Baking, LLC

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A. Section III, "Improvements," is hereby amended to read in its entirety as follows: III. Improvements 3.1 The installation of the IMPROVEMENTS will require engineering, design and construction work to prepare the site within OWNER'S building where the new equipment will be located, and the procurement of equipment, infrastructure and utilities modifications and electrical and mechanical installation. The IMPROVEMENTS are being made to enable the OWNER to manufacture bakery products such as various pastries, Danish and coffee cake categories at the PROPERTY. The IMPROVEMENTS to be constructed and otherwise added and implemented at OWNER'S PROPERTY are described as follows: A. To the real property and existing building of OWNER on the PROPERTY, building modifications to support proper operation, sanitation and installation of the new equipment and production lines to manufacture OWNER'S baking products. These modifications include updated utilities, floor, wall, and ceiling changes and finishes, as well as some structural improvements to the building to support static, live and dynamic equipment loading. B. Within the existing building of OWNER, it is planned by OWNER to establish a sweet dough production line, a croissant production line, a fruit filling production line, a frozen dough production line, a pound cake production line, a snack cake production line, a clam shell production line, a muffin production line, and ongoing capital improvements to the various production lines, equipment and facilities in the building. A total of $15,617,000.00 will be spent by OWNER in making these IPROVEMENTS to the PROPERTY during the term of this tax abatement agreement. All such IMPROVEMENTS will be described in the CITY'S Certificate of Completion prepared after the completion and installation of the above described building modifications and improvements, personal property, machinery and equipment. The description shall be furnished by OWNER to CITY in OWNER'S sworn report described in Section 11. 1, below and attached to CITY'S Certificate of Completion. The description shall also be filed with the Chief Appraiser of the Lamar County Appraisal District. Said Certificate shall be duly executed by the Mayor of the City of Paris in the form attached hereto as Exhibit C. The IMPROVEMENTS will be at a cost equal to or in excess of $15,617,000.00 for the capital cost and installation of the building modifications, machinery, equipment and production lines. Site preparation shall occur during April, 2013, immediately after this Agreement is executed and approved by the CITY; installation shall commence in May, 2013; and production is expected to commence as soon as possible thereafter during the year, 2013. OWNER contemplates that all such IMPROVEMENTS shall be completed by the end of the year, 2017; provided, that OWNER shall have such additional time to complete the IMPROVEMENTS as may be required in the event of "force majeure" if OWNER is diligently and faithfully pursuing completion of the 2