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<br />THE STATE OF TEXAS <br />COUNTY OF LAMAR <br /> <br />~ <br />~ <br /> <br />FIRST ANENDED <br />TAX ABATEMENT AGREEMENT <br /> <br />This agreement is entered into by and bet\veen the City <br />of Paris, Paris, Texas, a municipal corporation of Lamar <br />County, Texas, acting by and through its Mayor, George <br />Fisher, duly authorized, hereinafter referred to as CITY, and <br />MERICO, INC" acting by and through its President, <br />hereinafter referred to as OWNER. <br /> <br />WITNESSETH: <br /> <br />\iHEREAS, on the 14th day of September, 1992, the City <br />Council of the City of Paris, Paris, Texas, passed an <br />Ordinance establishing Reinvestment Zone No. Three 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 />and, <br /> <br />WHEREAS, the CITY has previously adopted a policy on tax <br />abatement incentives; and, <br /> <br />WHEREAS, the pol icy 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 has adopted a resolution stating that <br />it elects to be eligible to participate in offering tax <br />abatement agreements; and, <br /> <br />WHEREAS, in order to maintain or 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, <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. Three in accordance <br />with the purposes for its creation and are in compliance with <br />the CITY'S policy on tax abatement incentives and the <br />ordinance creating such reinvestment zone adopted by the CITY <br />and all applicable laws; <br /> <br />NOW THEREFORE, the Parties hereto do mutually agree as <br />follows: <br /> <br />MERICO, INC, TAX ABATEMENT AGREEMENT - Page 1 <br /> <br />EXHIBIT A <br />