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845
<br />
<br /> INCENTIVE AGREEMENT
<br />
<br />STATE OF TEXAS )
<br /> ) KNOW ALL MEN BY THESE PRESENTS:
<br />COUNTY OF LAMAR )
<br />
<br /> THAT, the PARIS ECONOMIC DEVELOPMENT CORPORATION, acting by and
<br />through its President, Jay Guest, duly authorized, hereinafter called PEDC, and PARIS CUSTOM
<br />TRAILER, acting by and through its Owner, Cleve Fendley, duly authorized, hereinafter called
<br />PCT, do hereby contract and agree as follows:
<br />
<br /> WITNESSETH:
<br />
<br /> WHEREAS, PEDC, an Economic Development Corporation organized under the Texas
<br />Development Corporation Act of 1979, Article 5190.6 of Vernon's Texas Civil Statutes, exists
<br />for the purpose of encouraging and assisting, qualified service and manufacturing entities in the
<br />creation of jobs in the Paris, Texas, area; and,
<br />
<br /> WHEREAS, PCT currently operates a custom trailer construction facility at Paris, Texas,
<br />hereinafter referred to as the "Facility,' and intends to create an additional seven (7) to twelve (12)
<br />permanent, full-time jobs over the next eighteen (18) months, and to invest a minimum of Thirty
<br />Thousand and no/100 Dollars ($30,000.00) on expansion of a building and equipment at the Paris
<br />location; and,
<br />
<br /> WHEREAS, PCT has requested that PEDC provide a grant for the creation of such new,
<br />permanent jobs; and,
<br />
<br /> WHEREAS, the new jobs and investment by PCT in Paris, Texas, will encourage
<br />economic development in Paris, Texas, and PEDC is willing to grant Two Thousand and no/100
<br />Dollars ($2,000.00) per full-time job, up to a maximum of Twenty-four Thousand and no/100
<br />Dollars ($24,000.00), pursuant to the terms and conditions of this Agreement for the creation of
<br />new jobs and investment in equipment; and,
<br />
<br /> WHEREAS, the Board of Directors of PEDC has determined that it is in the best interest
<br />of Paris, Texas, that f'mancial incentives be offered to PCT in order to encourage it to expand its
<br />business in Paris, Texas, and to create jobs in Paris, Texas;
<br />
<br /> NOW, THEREFORE, for and in consideration of the covenants, promises, and conditions
<br />hereinafter contained, PEDC and PCT agree as follows:
<br />
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<br /> EXHIBIT A
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