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<br />I.
<br />Term
<br />
<br />1.1 The tern1 of this AGREEMENT shall begin on the 27 day of March, 2006, with, as
<br />hereinafter provided, tax abatement granted herein beginning with the tax year beginning January
<br />1,2007, and expiring on December 31,2013.
<br />
<br />II.
<br />Area to be Improved
<br />
<br />2.1 The PROPERTY to be the subject of this AGREEMENT shall be that PROPERTY
<br />described in Exhibit A, attached hereto, which is made a part hereofand shall be hereinafter referred
<br />to as PROPERTY.
<br />
<br />III.
<br />Improvements
<br />
<br />3.1 The OWNER's current facilities consist of land, buildings, and other structural
<br />improvements, all as shown on Exhibit A, attached hereto. The purpose of the improvements is to
<br />add a minimum of 150,000 square feet of warehouse space adjacent to our current facility located
<br />at 2300 131h Street, S.W., Paris, Texas, with the construction ofa new building, in order (i) to retain
<br />the current jobs provided in the community by the OWNER, (ii) to provide to the customers of the
<br />OWNER additional warehouse space in the Paris, Texas, area that is less expensive to them than
<br />warehouse space which may be obtained elsewhere, and (iii) by lowering the costs to OWNER'S
<br />customers, to enable them to obtain more volume in their respective businesses. The OWNER shall
<br />make improvements to its real property (herein referred to as the PROPERTY) in the location shown
<br />011 Exhibit A attached hereto, by constructing on its PROPERTY an additional amount of at least
<br />150,000 square feet ofwarehouse space (herein referred to as the IMPROVEMENTS, described in
<br />detail in Exhibit B attached hereto and made a part hereof). The IMPROVEMENTS will also be
<br />described in CITY'S Certificate of Completion prepared after the completion of construction of the
<br />IMPROVEMENTS, which Certificate of Completion shall be furnished to and filed with the Chief
<br />Appraiser of the Lamar County Appraisal District, duly executed by the Mayor of the City of Paris
<br />ill the form attached hereto as Exhibit C. The IMPROVEMENTS will be at a cost equal to or in
<br />excess of$3, 150,000.00 for building construction, and shall be substantially completed on or about
<br />January 1, 2007; provided, that OWNER shall have such additional time to complete the
<br />IMPROVEMENTS as may be required in the event of "force majeure" if OWNER is diligently and
<br />faithfully pursuing completion of the IMPROVEMENTS. For this purpose, "force majeure" shall
<br />mean any contingency or cause beyond the reasonable control of OWNER including, without
<br />limitation, acts of God, or the public enemy, any natural disaster, war, riot, civil commotion,
<br />insurrection, governmental or de facto governmental action, unless caused by acts or omissions of
<br />OWNER, fires, explosions, accidents, floods, and labor disputes or strikes. The date of completion
<br />of the IMPROVEMENTS shall be defined as the date a Certificate of Occupancy is issued by the
<br />City of Paris, or as otherwise agreed in writing by the parties.
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<br />TAX A8ATE:\IENT AGREEMENT - Page 2
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