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<br />THE STATE OF TEXAS )
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<br />COUNTY OF LAMAR )
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<br />TAX ABATEMENT AGREEMENT
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<br />This agreement is entered into by and between the CITY OF PARIS, PARIS, TEXAS,
<br />a municipal corporation, situated in Lamar County, Texas, acting by and through its Mayor, Eric
<br />S. Clifford, duly authorized, hereinafter called CITY, and H-W COMMERCIAL
<br />WAREHOUSE, INC" acting by and through its authorized officer whose signature appears
<br />below, hereinafter referred to as OWNER.
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<br />WIT N E SSE T H:
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<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 13th, day of
<br />April, 1998, pass Ordinance No. 98-018, establishing Reinvestment Zone No. Five in the City of
<br />Paris for commercial and industrial tax abatement, hereinafter refcrred to as ORDINANCE, as
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<br />authorized by the Property Redevelopment and Tax Abatement Act, as amended, being V.T.C.A.
<br />Tax Code, Chapter 312; and,
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<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 23rd day of
<br />March, 1998, in Resolution No. 98-041, elect to be eligible to participate in tax abatement
<br />agreements in order to maintain and enhance the commercial and industrial economic and
<br />employment base of the Paris area for the long term interest and benefit of the CITY and its
<br />citizens: and,
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<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 23rd day of
<br />March, 1998, in Resolution No. 98-042, pass and adopt a policy on tax abatement incentives,
<br />which policy was amended on the 13th day of April, 1998, by Resolution No. 98-045; and,
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<br />WHEREAS, the policy on tax abatement incentives constitutes appropriate guidelines and
<br />criteria governing tax abatement agreements to be entered into by the CITY as required by the
<br />Property Redevelopment and Tax Abatement Act, as amended; and,
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<br />WHEREAS, the contemplated use of the property, as hereinafter defined, the contemplated
<br />improvements to the property in the amount as set forth in this AGREEMENT, and the other
<br />terms hereof are consistent with encouraging development of said Reinvestment Zone No. Five
<br />in accordance with the purposes for which it was created and are in compliance with the CITY's
<br />policy on tax abatement incentives and the ordinance creating such reinvestment zone adopted by
<br />the CITY and all applicable laws; NOW, THEREFORE,
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<br />TAX AIIA1'I~MF.NT AGlU~":MF.NT _ rage 1
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<br />~HIBIT A
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