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<br />AMENDMENT NO. ONE TO TAX ABATEMENT AGREEMENT
<br />BETWEEN THE CITY OF PARIS, PARIS, TEXAS,
<br />AND SESACO CORPORATION DATED MARCH 12,2001
<br />
<br />STATE OF TEXAS
<br />
<br />COUNTY OF LAMAR
<br />
<br />)
<br />)
<br />)
<br />
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 12th day of March,
<br />2001, in Resolution No. 2001-018, elect to be eligible to participate in tax abatement agreements in
<br />order to maintain and enhance the commercial and industrial economic and employment base of the
<br />Paris area for the long term interest and benefit of the City and its citizens; and,
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 12th day of March,
<br />2001, in Resolution No. 2001-019, pass and adopt a policy on tax abatement incentives; and,
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 12th day of March,
<br />2001, pass Ordinance No. 2001-012, establishing Reinvestment Zone No.9 in the City of Paris for
<br />commercial and industrial tax abatement as authorized by the Property Redevelopment and Tax
<br />Abatement Act, as amended, being V.T.C.A. Tax Code, Chapter 312; and,
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 12th day of March,
<br />2001, in Resolution No. 2001-020, authorize the execution of a Tax Abatement Agreement with
<br />Sesaco Corporation; and,
<br />
<br />WHEREAS, the terms of said Agreement are in need of revision; NOW, THEREFORE,
<br />
<br />WITNESSETH
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<br />That Section 3.1 of the Tax Abatement Agreement between the City of Paris, Paris, Texas,
<br />
<br />and Sesaco Corporation dated March 12,2001, be amended to read as follows:
<br />
<br />"III.
<br />"Improvements
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<br />"3.1 The OWNER shall make improvements to the PROPERTY as
<br />follows: Demolish and rebuild the existing 9,180 square foot facility which is a part
<br />of the main building located in Paris, Texas, and install new equipment consisting of
<br />a seed receiver system, a dry cleaning system, and a wet processing system, all of
<br />which said equipment are listed on Exhibit B, attached hereto. Such improvements
<br />will be made upon the PROPERTY herein described and will consist of machinery,
<br />equipment, and utilities installed to process sesame seeds in the existing main
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<br />EXHIBIT A
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