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forth in the Guidelines and Criteria for the 5 In 5 Housing Infill Development Program as set <br />forth in City Resolution No. 2025-025. <br />NOW, THEREFORE, in consideration of the terms and conditions referenced herein, <br />and other good and valuable consideration, the receipt and sufficiency of which is hereby <br />acknowledged, the City, and Owner, (collectively referred to as Parties) hereby mutually agree as <br />follows: <br />I. <br />Recitals <br />1.1 The Recitals set forth hereinabove are incorporated into this Agreement for all <br />purposes. <br />H. <br />Component Parts <br />2.1 This Agreement comprises two component parts, including an economic <br />development agreement pursuant to Texas Government Code Chapter 380 and a residential tax <br />abatement agreement pursuant to Texas Tax Code Section 312. <br />III. <br />Terms Applicable to both the Economic Development Agreement and the Residential Tax <br />Abatement Agreement: <br />A. The Properties—Areas to be Improved <br />3.1 The Improvements defined in section III B below and made the subject of this <br />Agreement shall be located on the Properties located in Paris, Lamar County, Texas more fully <br />described in Exhibit 1 attached hereto and incorporated herein by reference, which Properties <br />are within Reinvestment Zone No. 2025-1 and within the area set forth in the Program: <br />• LCAD# 14938, City of Paris Block 74-C, Lot 8,415 E. Grove St. <br />• LCAD# 14857, City of Paris Block 72-C, Lot 6, 628 Garrett St. <br />• LCAD# 14854, City of Paris Block 72-C, Lot 3, 920 N.E. 6t' St. <br />• LCAD# 50, Belmont Addition Block 8, Lots 5 and 6,1138 Grove St. <br />3.2 The Properties listed are Tax Foreclosure City Trustee (City Trustee) status <br />properties. <br />B. Consideration—Improvements <br />3.3 The Improvements to be completed consist of four (4) single family home <br />structures (the Structure or Structures) on the above described Properties as more fully described <br />in the application for the Program attached hereto and incorporated herein as Exhibit 1. <br />OA <br />