2006-048-RES-Tax Abatement Warehouse 107

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THE STATE OF TEXAS ) ) COUNTY OF LAMAR ) T AX ABATEMENT AGREEMENT This agreement is entered into by and between the CITY OF PARIS, PARIS, TEXAS, a municipal corporation, situated in Lamar County, Texas, acting by and through its authorized officer whose signature appears below (hereinafter called "CITY"), and PARIS \V AREH 0 USE 107, IN C., a corporation, acting by and through its authorized officer whose signature appears below (hereinafter referred to as "OWNER"). \V I T N E SSE T H: \VHEREAS, the City Council of the City of Paris did heretofore, on the 22nd day of September, 2004, in Resolution No. 2004-164, elect to be eligible to participate in tax abatement agreements in order to maintain and enhance the commercial and industrial economic and employment base of the Paris area for the long tern1 interest and benefit of the City and its citizens; and, \VHEREAS, the City Council of the City of Paris did heretofore, following public hearings as required by law, on the 4th day of December, 1997, pass Resolution No.97-143, establishing an Enterprise Zone in the City of Paris, hereinafter called CITY, for commercial and industrial tax abatement (hereinafter refen'ed to as the "ORDINANCE"), as authorized by the Texas Enterprise Zone Act, Chapter 2303, Texas Government Code, as amended (the "Act"); and \VHEREAS, the contemplated use of the IMPROVEMENTS, as hereinafter defined, in the amount as set forth in this AGREEMENT upon and within the PROPERTY, and the other terms hereof are consistent with encouraging development of said Enterprise Zone in accordance with the purposes for which it was created and are in compliance with the CITY's policy on tax abatement incentives and the ordinance creating such Enterprise Zone adopted by the CITY and all applicable laws; and \VHEREAS, the City Council of the City of Paris on the 12th day of December, 2005, in Resolution No. 2005-144, as amended by Resolution No. 2006-042, dated March 13,2006, passed and adopted appropriate guidelines and criteria governing tax abatement agreements to be entered into by the CITY as required by the Property Redevelopment and Tax Abatement Act, as amended; NOW, THEREFORE, The Parties hereto do mutually contract and agree as follows: TAX ABATBIENT AGREDIE:'iT. Page I EXHIBIT A.