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<br />THE STATE OF TEXAS ~ <br />COUNTY OF LAMAR ~ <br /> <br />TAX ABATEMENT AGREEMENT <br /> <br />This agreement is entered into by and between the CITY <br />OF PARIS, a municipal corporation, situated in Lamar County, <br />Texas, acting by and through its Mayor, George Fisher, duly <br />authorized, hereinafter called CITY, and CAMPBELL SOUP <br />COMPANY, a New Jersey Corporation, acting by and through its <br />Vice President Taxes, James J. Baldwin, hereinafter <br />referred to as CAMPBELL. <br /> <br />WITNESSETH: <br /> <br />WHEREAS, on the 12th day of April, 1993, the City <br />Council of the City of Paris, Paris, Texas, passed Ordinance <br />No. 93-014 establishing Reinvestment Zone No. Four in the <br />City of Paris for commercial and industrial tax abatement, <br />hereinafter referred to as ORDINANCE, as authorized by the <br />Property Redevelopment and Tax Abatement Act, as amended, <br />being V.T.C.A. Tax Code, Chapter 312; and, <br /> <br />WHEREAS, the CITY did on <br />Resolution No. 93-030 pass <br />abatement incentives; and, <br /> <br />the 15th day of March, 1993, in <br />and adopt a policy on tax <br /> <br />WHEREAS, the policy on tax <br />constitutes appropriate guidelines and <br />abatement agreements to be entered <br />required by the Property Redevelopment <br />as amended; and, <br /> <br />abatement incentives <br />criteria governing tax <br />into by the CITY as <br />and Tax Abatement Act, <br /> <br />WHEREAS, the CITY did in said same Resolution No. 93-030 <br />elect to be eligible to participate in offering tax abatement <br />agreements; and, <br /> <br />WHEREAS, in order to maintain and enhance the commercial <br />and industrial economic and employment base of the Paris area <br />for the long term interest and benefit of the CITY and its <br />citizens: and, <br /> <br />WHEREAS, the contemplated use of the property, as <br />hereinafter defined, the contemplated improvements to the <br />property in the amount as set forth in this AGREEMENT and the <br />other terms hereof are consistent with encouraging <br />development of said Reinvestment Zone No. Four in accordance <br />with the purposes for which it was created and are in <br />compliance with the CITY'S policy on tax abatement incentives <br /> <br />EXHIBIT A <br />