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<br /> <br />Paris Economic <br /> <br />Development Corporation <br /> <br /> <br />July 9, 1998 <br /> <br />Mr. Eldon Fulgham and Mr. David Hickerson <br />Paris Packaging, Inc. <br />800 West Center Street <br />Paris, Texas 75460 <br /> <br />Delivered via facsimile: 800-527-3909 <br /> <br />Dear Mr. Fulgham and Mr. Hickerson: <br /> <br />,I <br />I <br /> <br />This document is to confirm to you the commitment of the <br />Paris Economic Development Corporation (PEDC) to loan Paris <br />Packaging, Inc. $4,000,000.00 for the acquisition of the Precision <br />Printing & Packaging, Inc. facility here in Paris, Texas. As you can <br />see from the attached PEDC Resolution, PEDC has authorized the <br />issuance of this debt through a local bank consortium to assist Paris <br />Packaging, Inc. All loan documents are being prepared as soon as <br />possible by J. D. McLaughlin of McLaughlin, Hutchison & Hunt. <br /> <br />The terms and conditions of the note will be detailed in the loan <br />documents. A summary of those conditions are a $4,000,000.00 loan <br />at a 7% interest rate paid on a 20 year amortization with a balloon or <br />maturity at five years. <br /> <br />,. <br /> <br />USincerely y?urs, <br /> <br />. , <br /> <br />~ <br />. <br /> <br /> <br /> <br />Curtis Fendley <br />President <br /> <br />~ <br /> <br />EXHIBIT B <br /> <br /> <br />, I <br /> <br />1651 Clarksville Street . Paris, Texas 75460 <br />(903) 784-2501 . I-S00-PARIS, TX . fax (903) 7S4-2503 <br />