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<br />. . <br /> <br />STATE OF TEXAS ~ <br />COUNTY OF LA~~R ~ <br /> <br />KNOW ALL MEN BY THESE PRESENTS: <br /> <br />TAX ABATEMENT AGREEMENT <br /> <br />THAT, the CITY OF PARIS, a municipal corporation, situated <br />in Lamar County, Texas, acting by and through its Mayor, Eric S. <br />Clifford, duly authorized, hereinafter called CITY, and <br />CAMPBELL SOUP COMPANY, a New Jersey corporation, authorized <br />to do bus iness in the State of Texas, by and through its Vice <br />President - Taxes, James J. Baldwin, hereinafter called CAMPBELL, <br />and <br /> <br />CAMPBELL SOUP (TEXAS) INC., a Texas corporation authorized <br />to do business in the State of Texas, acting by and through its <br />Vice President-General Manager, Edward A. Hernan, hereinafter <br />called CAMPBELL TEXAS, do hereby contract and agree as follows: <br /> <br />1. <br />Background <br /> <br />1.1. CAMPBELL TEXAS, a wholly-owned subsidiary of CAMPBELL, <br />operates a major prepared food manufacturing plant located within <br />the corporate limits of the City of Paris, hereinafter called the <br />"p ar is Plan t" . The land, bu i ld ings , fix tures , and other real <br />property improvements which constitute the Paris Plant are owned <br />by CAMPBELL and leased to CAMPBELL TEXAS. All the tangible <br />personal property located at and used by CAMPBELL TEXAS in <br />connection with its operation of the Paris Plant is owned by <br />CAMPBELL TEXAS. <br /> <br />1.2. CAMPBELL is considering making certain major real <br />r.roperty improvements to the Paris Plant, hereinafter called the <br />I Improvements" . The Improvements cons is t pr imar i ly of <br />constructing an approximately 200,000 square foot masonry, mostly <br />pre-cast concrete, and steel building, to house initially, <br />machinery and equipment required to manufacture and package <br />"prego" brand products, juice products in glass or aluminum <br />containers, and microwaveable food products. The real property <br />upon which the Improvements would be located consists of an <br />approximately nine (9) acre tract of land in the Reddin Russell <br />Survey of Lamar County, which occupies a portion of Lot 14, City <br />Block 297, as designated by the City of Paris Tax Map, and which <br />is included within the corporate limits of the City of Paris, <br />which is more particularly described on "Exhibit A", attached <br />hereto and incorporated herein for all legal purposes. <br /> <br />-1- <br /> <br />EXHIBIT B <br />