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Improvements set forth in the guidelines and criteria for the Program as set forth in City Resolution No. 2024-038. NOW, THEREFORE, in consideration of the terms and conditions referenced herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the City, and Owner (collectively referred to as "Parties"), hereby mutually agree as follows: I. Recitals 1.1 The Recitals set forth hereinabove are incorporated into this Agreement for all purposes. II. Component Parts 2.2 This Agreement comprises two component parts, including an economic development agreement pursuant to Texas Government Code Chapter 380 and a residential tax abatement agreement pursuant to Texas Tax Code Section 312. III. Terms Applicable to both the Economic Development Agreement and the Residential Tax Abatement Agreement: A. The Properties—Areas to be Improved 3.1 The Improvements defined in section III B below and made the subject of this Agreement shall be located on the Properties located in Paris, Lamar County, Texas more fully described in Exhibit 2 attached hereto and incorporated herein by reference, which Properties are within Reinvestment Zone No. 2020-1 and within the area set forth in the Program: • LCAD- 16208, 345 W. Sherman, City of Paris Lot 3, Block 136 • LCAD- 16209, 335 W. Sherman, City of Paris Lot 4, Block 136 • LCAD.- 18832, 3050 W. Campbell, City of Paris Lot 1, Block 326 • LCAD- 13041, 40 NW 31St, Mayer Addition Lots 3 and 4, Block 2 B. Consideration --Improvements 3.2 The Improvements to be completed consist of constructing six (6) single family homes on the above described Properties as more fully described in the application for the Program attached hereto and incorporated herein as Exhibit 1. Said Improvements must be completed within the term of the Economic Development Agreement, set herein to expire on November 11, 2029. 2