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485 <br /> <br /> INCENTIVE AGREEMENT <br /> <br /> STATE OF TEXAS ) <br /> ) KNOW ALL MEN BY THESE PRESENTS: <br /> COUNTY OF LAMAR ) <br /> <br /> THAT, the PARIS ECONOMIC DEVELOPMENT CORPORATION, acting by and <br /> through its President, Michael R. Rhodes, duly authorized, hereinafter called PEDC, and <br /> LANSING GRAIN COMPANY, acting by and through its Feedgrains Manager, Scott Mills, duly <br /> authorized, hereinafter called LANSING, do hereby contract and agree as follows: <br /> <br /> 1. LANSING agrees to construct and operate a trans-load facility to provide for the <br /> direct transfer of truck grain to rail hopper cars, to create two (2) to four (4) <br /> permanent jobs, and to maintain such permanent jobs for a period of not less than <br /> four (4) years. <br /> <br /> 2. PEDC agrees to provide a cash incentive of $6,000.00 upon the completion of such <br /> facility and the hiring of such permanent employees. <br /> <br /> 3. In the event that LANSING fails to complete construction of the facility within <br /> thirty (30) days of the date of this agreement and fails to create and maintain the <br />-- jobs provided for herein, LANSING agrees to return all funds to the PEDC within <br /> thirty (30) days of receipt of demand for repayment from the PEDC. <br /> <br /> EXECUTED on this 13th day of September, 1999. <br /> <br /> PARIS ECONOMIC DEVELOPMENT <br /> CORPORATION <br /> <br /> By: Michael R. Rhodes, President <br /> <br /> LANSING GRAIN COMPANY <br /> <br /> Scott Mills, Feedgrains Manager <br /> <br /> STATE OF TEXAS ) <br /> ) <br /> COUNTY OF LAMAR ) <br /> <br /> BEFORE ME, the undersigned authority, on this day personally appeared MICHAEL R. <br />-- RHODES, President of the Paris Economic Development Corporation, Paris, Texas, known to <br /> me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to <br /> <br /> <br />