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WHEREAS,, heretofore, on January 27, 2014 by Resolution No. 2014-006, the City <br />Council of the City of Paris, Texas approved an Economic Incentive Agreement ("the <br />Agrectnent") between the Paris Economic Development Corporation ("PED�C") and Campbell <br />Soup Supply CIompany LI -C ("Campbell Soup" or "the Company") relating to the Company's <br />Single Serve Beverage Line, which Agreement was then executed by the PEDC and the Company <br />on January 30, 2014; and <br />WHEREAS, due to prevailing conditions in the industry, the Company has determined <br />that it is in the best interest of the present and future growth and development of its Paris, Texas <br />plant to decommission said Single Serve Beverage Line and thereafter to con-linission a new <br />product manufacturing line (the "PILIM Organics Line"), and <br />INHERES, at this tirne, the Company is in default of the Agreement due to said prevailing <br />industry conditions; and <br />WHEREAS, at Its regularly scheduled meeting on October 20, 2017, in light of the <br />Con-ipany's commissioning the new Plurn Organics Line, the Board of Directors of the, PEDC <br />deten-nin.ed it is in the best interest of the Paris, Texas community and the local econoiny to amend <br />the original Agreement so that the Company is not in default and to further terminate said <br />Agreement; and <br />WHEREAS, for the reasons stated above, the City Council finds that it is in the best <br />interest of the City to approve the Addendum to Economic Incentive Agreement (the <br />"Addendum"), attached hereto as Exhibit A and incorporated herein by reference, and the <br />Agreement to Terminate Economic Incentive Agreement Dated January 30, 2015 Between the <br />Paris Economic Developi-nent Corporation and Campbell Soup Supply Company LLC (the <br />"Termination Agreement"), attached hereto as Exhibit B and incorporated herein by reference; <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />PARIS, TEXAS, THAT: <br />Section 1. The findings set out in the preamble to this resolution are hereby in all <br />things approved. <br />Section 2. That the Addendum to Economic Incentive Agreement (the "Addendum"), <br />attached hereto as Exhibit A and incorporated herein by reference, and the Agreement to, <br />