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abatement incentives and the ordinance creating such Enterprise Zone adopted by the City <br />and all applicable laws; and <br />./7Ǿ 4(%2%&/2%Ǿ pursuant to Chapter 312 of the Texas Tax Code and the <br />Guidelines and Criteria for Tax Abatement adopted in Resolution No. 2020-002, the parties <br />hereto do mutually contract and agree as follows: <br /> <br />I. <br />Term <br />1.1 The effective date of this Agreement is the 12thday of June, 2023, ¶¨³§ ³§¤ <br />st <br />³ ·  ¡ ³¤¬¤­³ ¡¤¨­¦ ¤¥¥¤¢³¨µ¤ ¥±®¬  ­£  ¥³¤± * ­´ ±¸ ΐǾ 2025Ǿ ®± * ­´ ±¸ ΐ ®¥ ³§¤ ¸¤ ± <br />¨¬¬¤£¨ ³¤«¸ ¥®««®¶¨­¦ ¢®¬¯«¤³¨®­ ®¥ ³§¤ ¢®­²³±´¢³¨®­  ­£ ¨­²³ «« ³¨®­ ®¥ ³§¤ <br />)¬¯±®µ¤¬¤­³² ²¤³ ¥®±³§ §¤±¤¨­  ­£ ³¤±¬¨­ ³¨­¦ ®­ $¤¢¤¬¡¤± ΒΐǾ 2034 Ȩ ­  ¡ ³¤¬¤­³ <br />¯¤±¨®£ ®¥ ten (10ȩ ¸¤ ±² Ȩ³§¤ ȏ!¡ ³¤¬¤­³ 0¤±¨®£Ȑȩȩȁ Said Abatement Period will <br />terminate on December 31, 2034, regardless of when Owner completes the Improvements <br />described in Sections II and III herein below. <br /> <br />II. <br />4§¤ ȏ0±®¯¤±³¸Ȑ – !±¤  ³® ¡¤ )¬¯±®µ¤£ <br /> <br />2.1 The Improvements defined in paragraph III below and made the subject of this <br />Agreement shall be located on the Property located in Paris, Lamar County, Texas and <br />described in %·§¨¡¨³ ΑǾ attached hereto and incorporated herein by reference, which <br />Property is within the Enterprise Zone. <br />III. <br />#®­²¨£¤± ³¨®­Ȁ )mprovements <br />3.1 The Owner shall expand its operations at its Paris, Texas Facility, by making <br />Improvements toits current Facility toincrease its presence in the foodservice folding carton <br />market, increase its capacity via the addition of new equipment, and make a significant <br />increase in manufacturing efficiencies. The Improvements also include new construction and <br />aremore particularly described in %·§¨¡¨³ Α.Owner shall causeto be made aninvestment <br />of n® «¤²² ³§ ­ SEVENTY-&)6% -),,)/. !.$ ./ȝΐΏΏ $/,,!23 Ȩ$75,0ΏΏǾΏΏΏȁΏΏȩ to <br />construct and install the Improvements.All of said Improvements shall be described in the <br />City’s Certificates of Completion defined in Section X, “Reporting Requirements.” For the <br />purposes of the default provision of this Tax Abatement Agreement (Section V), the <br />Improvementswill be deemed completed upon the issuance by the City of a Certificate of <br />Occupancy for the expanded space of the Facility. Once Owner has applied for said Certificate <br />of Occupancy for such space, the City shall not unreasonably delay the issuance of same. <br />Notwithstanding the foregoing, however, Owner shall have such additional time to complete <br />the Improvements as may be required in the event of “force majeure” if Owner is diligently <br />and faithfully pursuing completion of thereof. For this purpose, “force majeure” shall mean <br />any contingency or cause beyond the reasonable control of Owner including, without <br />limitation, acts of God, any natural disaster, war, riot civil commotion, insurrection, <br />2 <br /> <br />