08-A Tax Abat Agree-Paris Wareh - Laserfiche WebLink

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I. Term 1.1 The term of this AGREEMENT shall begin on the 7th day of October, 2004, with, as hereinafter provided, taac abatement granted herein beginning with the tax year beginning January 1, 2005, and expiring on December 31, 2011. II. Area to be Improved 2.1 The property to be the subject of this agreement shall be that property described by metes and bounds as the First, Second and Third Tracts in Exhibit A, attached hereto, which is made a part hereof and shall be hereinafter referred to as PROPERTY. III. Improvements 3.1 The OWNER shall make improvements to the PROPERTY as follows: Add approximately 172,000 square feet to the current facility located at 230013'h S.W., Paris, Texas with the construction of a new building, joined to the current building, and expansion of the current packing area, all of which is listed on Exhibit B, attached hereto. Such improvements will be made upon the PROPERTY herein described and will consist of machinery and equipment installed to allow for more packaging and storage for customers in the addition of the main building, all ofwhich will be particularly described in CITY'S Certificate of Completion prepared after the completion and installation of the improvements and machinery herein described which shall be furnished to and filed with the Chief Appraiser of the Lamar County Appraisal District. Said Certificate shall be duly executed by the Mayor of the City of Paris and attached hereto as Exhibit C. The improvements described in this paragraph shall be hereinafter referred to as IMPROVEMENTS. The IMPROVEMENTS will be at a cost equal to or in excess of $5,245,000.00, and shall be substantially completed on or about April 1, 2005; provided, that OWNER shall have such additional time to complete the IMPROVEMENTS as may be required in the event of "force majeure" if OWNER is diligently and faithfully pursuing completion of the IMPROVEMENTS. For this purpose, "force maj eure" shall mean any contingency or cause beyond the reasonable control of OWNER including, without limitation, acts of God, or the public enemy, any natural disaster, war, riot, civil commotion, insurrection, governmental or de facto governmental action, unless caused by acts or omissions of OWNER, fires, explosions, accidents, floods, and labor disputes or strikes. The date of completion of the IMPROVEMENTS shall be defined as the date a Certificate of Occupancy is issued by the City of Paris. TAX ABATEMENT AGREEMENT - Page 2