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WHEREAS, at the time of this TERMINATION AGREEMENT, OWNER is in full <br />compliance with the terms of the AGREEMENT, as modified by the ADDENDUM; and <br />WHEREAS, the CITY has agreed to said termination of the AGREEMENT because the <br />redirection of resources from the Fusion Line to sauce production is in the best interest of the <br />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 November 24, 2008 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 July 22, 2019 and attached hereto as Exhibit A <br />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, and no tax abatement shall be granted on the <br />property the subject of the AGREEMENT for tax year 2019. <br />WITNESS our hands this _ day of 2019. <br />THE CITY OF PARIS, TEXAS <br />La <br />ATTEST: <br />Janice Ellis, City Clerk <br />APPROVED AS TO FORM: <br />Stephanie H. Harris, City Attorney <br />2 <br />Steven J. Clifford, M. D., Mayor <br />