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<br />THE STATE OF TEXAS ) <br />) <br />COUNTY OF LAMAR ) <br /> <br />TAX ABATEMENT AGREEMENT <br /> <br />This agreement is entered into by and between the CITY OF PARIS, PARIS, TEXAS, a <br />municipal corporation, situated in Lamar County, Texas, acting by and through its authorized officer <br />whose signature appears below, hereinafter called CITY, and SESACO CORPORATION, acting <br />by and through its authorized officer whose signature appears below, hereinafter referred to as <br />OWNER. <br /> <br />WIT N E SSE T H: <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 policy on tax abatement incentives constitutes appropriate guidelines and <br />criteria governing tax abatement agreements to be entered into by the CITY as required by the <br />Property Redevelopment and Tax Abatement Act, as amended; 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, <br />hereinafter called CITY, for commercial and industrial tax abatement, hereinafter referred to as <br />ORDINANCE, as authorized by the Property Redevelopment and Tax Abatement Act, as amended, <br />being V.T.c.A. Tax Code, Chapter 312; and, <br /> <br />WHEREAS, the contemplated use of the property, as hereinafter defined, the contemplated <br />improvements to the property in the amount as set forth in this AGREEMENT, and the other terms <br />hereof are consistent with encouraging development of said Reinvestment Zone No.9 in accordance <br />with the purposes for which it was created and are in compliance with the CITY's policy on tax <br />abatement incentives and the ordinance creating such reinvestment zone adopted by the CITY and <br />all applicable laws; NOW, THEREFORE, <br /> <br />The Parties hereto do mutually contract and agree as follows: <br /> <br />TAX ABATEl\n:NT AGR~:EMENT - Page 1 <br /> <br />EXHIBIT 1L <br />