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WHEREAS, the CITY has agreed to said termination of the AGREEMENT because the <br />replacement of the Single Serve Beverage Line with a new product line is in the best interest of <br />the CITY and the Enterprise Zone in that it will contribute to the sustainability and growth of <br />OWNER's PROPERTY; and <br />WHEREAS, termination of the AGREEMENT is consistent with encouraging <br />development of said Enterprise Zone in accordance with the purposes for which it was created <br />and is in compliance with the CITY's policy on tax abatements and all applicable laws and <br />otherwise serves a public purpose in maintaining a major employer in the CITY; <br />NOW, THEREFORE, <br />For all of the foregoing reasons, CITY and OWNER hereto do hereby mutually contract <br />and agree to terminate the Tax Abatement Agreement dated February 25, 2013 and attached <br />hereto as Exhibit 1 to Exhibit A and incorporated herein by reference, as modified by the <br />Addendum to Tax Abatement Agreement dated October 23, 2017 and attached hereto as Exhibit <br />A and incorporated by reference. <br />Henceforth, neither CITY nor OWNER owe any further obligations to one another as a <br />result of the AGREEMENT or the ADDENDUM. <br />d <br />ITNESS our hands this day o 2017. <br />THE CITY OF PARIS, TEXAS <br />Steven ,I4 Clifford, .M, :IIS,,, Mayor <br />ATTEST: <br />Jaiinu:iiee Ellis, r'w';ity Cleric <br />APPROVED AS TO FORM: <br />