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4/27/2026 10:13:38 AM
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4/27/2026 10:06:53 AM
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CONSENT TO ASSIGNMENT OF ECONOMIC DEVELOPMENT AGREEMENT <br />THE CITY OF PARIS, TEXAS ("City"), a Texas home rule municipal corporation, acting <br />by and through its duly authorized officers, hereby consents as follows: <br />RECITALS <br />A. The City and Alpha Lake, Ltd., a Texas limited partnership ("Original Company"), <br />entered into that certain Economic Development Agreement dated March 2, 2022 (the "EDA"), <br />relating to the Paris Towne Center shopping center located in Paris, Lamar County, Texas (the <br />"Property"). <br />B. Section 7.1 of the EDA provides that the EDA may not be assigned without the express <br />written permission of the City. <br />C. Paris Towne Center LLC, a Texas limited liability company ("Assignor"), as <br />successor -in -interest to the Original Company, proposes to assign all of its interest in the EDA to <br />Corsair Property Company, LLC, a Texas limited liability company ("Assignee"), or Assignee's <br />successors or assigns, in connection with the sale of the Property pursuant to that certain Contract of <br />Sale dated effective as of April 2, 2026, between Assignor, as seller, and Assignee, as buyer (as may <br />be assigned or amended, the "Sale Agreement"). <br />CONSENT <br />NOW, THEREFORE, in consideration of the foregoing and for other good and valuable <br />consideration, the receipt and sufficiency of which are hereby acknowledged, the City hereby: <br />1. Consents to the assignment of the EDA, a copy of which is attached hereto as Exhibit <br />B and is incorporated by reference herein, by Assignor to Assignee, or to Assignee's successors or <br />assigns taking title to the Property in connection with the closing of the transaction contemplated by <br />the Sale Agreement, pursuant to the Assignment and Assumption executed or to be executed by <br />Assignor and Assignee (the "Assignment"). A copy of the proposed Assignment document is attached <br />hereto as Exhibit A. <br />2. Acknowledges that, upon the effective date of the Assignment, Assignee (or its <br />applicable successor or assign) shall be bound by and entitled to the benefits of the EDA as though it <br />were the "Company" thereunder, subject to all terms and conditions of the EDA. <br />3. Confirms that, as of the date hereof, to the City's knowledge, neither the City nor the <br />Company is in default under the EDA, and the City has not delivered any notice of termination under <br />the EDA. <br />4. Reserves all of the City's rights and remedies under the EDA, which remain in full <br />force and effect and are not waived, modified, or otherwise affected by this Consent, except to the <br />extent expressly set forth herein. <br />1 <br />49582082v.1 <br />
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