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<br />THE STATE OF TEXAS ) <br />) <br />COUNTY OF LAMAR ) <br /> <br />TAX ABATEMENT AGREEMENT <br /> <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, <br />Charles H. Neeley, duly authorized, hereinafter called CITY, and THE EARTHGRAINS <br />COMPANY, acting by and through its authorized officer whose signature appears below, <br />hereinafter referred to as OWNER. <br /> <br />WIT N E SSE T H: <br /> <br />WHEREAS, the City Council of the City of Paris did heretofore, on the 14th day of <br />February, 2000, pass Ordinance No. 2000-006, establishing Reinvestment Zone No.8 in the City <br />of Paris, hereinafter called CITY, for commercial and industrial tax abatement, hereinafter <br />referred to as ORDINANCE, as authorized by the Property Redevelopment and Tax Abatement <br />Act, as amended, being V.T.C.A. Tax Code, Chapter 312; and, <br /> <br />WHEREAS, the City Council of the City of Paris did heretofore, on the 14th day of <br />February, 2000, in Resolution No. 2000-006, 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, <br /> <br />WHEREAS, the City Council of the City of Paris did heretofore, on the 14th day of <br />February, 2000, in Resolution No. 2000-007, pass and adopt a policy on tax abatement incentives; <br />and, <br /> <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, <br /> <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.8 in <br />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, <br /> <br />TAX ABATEMENT AGREEMENT - Page 1 <br />