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20-APPROVE RESOLUTION ACKNOWLEDGING/APPROVAL LOAN AGREEMENT & PROMISSORY NOTE BETWEEN PEDC AND CAPITAL ONE
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09/12/2011
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20-APPROVE RESOLUTION ACKNOWLEDGING/APPROVAL LOAN AGREEMENT & PROMISSORY NOTE BETWEEN PEDC AND CAPITAL ONE
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8/21/2012 4:23:46 PM
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9/12/2011 9:01:10 AM
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CITY CLERK
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E DRAPr <br />ASSIGNMENT OF LIEN <br />THE STATE OF TEXAS ) <br />) KNOW ALL MEN BY THESE PRESENTS: <br />COUNTY OF LAMAR ) <br />THAT PARIS ECONOMIC DEVELOPMENT CORPORATION, A Texas Non-Profit <br />Corporation, by and through its duly authorized President, M. PIKE BURKHART, SR. <br />(herein called "Borrower"), for and in consideration of the sum of Ten ($10.00) and more Dollars <br />cash to it in hand paid by CAPITAL ONE, N.A., A Banking Corporation (herein called "Lender"), <br />the receipt of which is hereby acknowledged, has Sold, Transferred, and Conveyed, and by these <br />presents does Sell, Transfer and Convey, unto CAPITAL ONE, N.A., whose mailing address is <br />1680 Capital One Drive, McLean, Virginia 22102, all of Borrower's interest in income received by <br />it from sales tax revenues, as well as other income - including investment income and interest <br />income - received by Borrower, except that portion of same currently obligated; "income received" <br />being defined as receipts of one-fourth (1/4) of 1.00% of the sales and use tax levied by the City of <br />Paris and payable to Borrower. <br />TO HAVE AND TO HOLD the same unto CAPITAL ONE, N.A., A Banking <br />Corporation, its successors or assigns forever. <br />WITNESS this lst day of September, 2011. <br />PARIS ECONOMIC DEVELOPMENT <br />CORPORATION <br />A Texas Non-Profit Corporation <br />BY: <br />M. PIKE BURKHART, SR. President <br />Duly Authorized <br />-1- <br />135 <br />
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