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market. These capital spending investments will be made for the Improvements annually, <br />as is shown in Exhibit A attached hereto. A detailed descriptive list of the Improvements <br />contemplated to be installed by the Owner in the year, 2013, is attached hereto as Exhibit C, <br />and other Improvements will be installed in the Logistics Building in the year 2014, together <br />with the Improvements to be installed in the Baby Care and Child Care Buildings in each of <br />the years 2014 through and including 2017, all of which will also be described in the City's <br />Certificate of Completion prepared for the City by the Owner and verified by the City after <br />the completion and installation of the Improvements. Such completed and verified list <br />shall be furnished to and filed with the Chief Appraiser of the Lamar County Appraisal <br />District on an annual basis from 2013 through 2017. The City's Certificate of Completion <br />shall be duly executed by the Mayor of the City of Paris in the form attached hereto as <br />Exhibit D. The Improvements will cost approximately $150,000,000.00 in the aggregate, <br />and shall be substantially completed in various phases prior to December 30, 2017, as is <br />shown on the chart attached hereto as Exhibit E; provided, that Owner shall have such <br />additional time to complete the Improvements as may be required in the event of "force <br />majeure" if Owner is diligently and faithfully pursuing completion of the Improvements. For <br />this purpose, "force majeure" shall mean any contingency or cause beyond the reasonable <br />control of Owner including, without limitation, acts of God, or the public enemy, any <br />natural disaster, war, riot, civil commotion, insurrection, governmental or de facto <br />governmental action, unless caused by acts or omissions of Owner, fires, explosions, <br />accidents, floods, and labor disputes or strikes. The date of completion of the <br />Improvements shall be defined as the date a Certificate of Occupancy is issued by the City <br />of Paris, or as otherwise agreed in writing by the parties. <br />IV. <br />Consideration <br />Improvements <br />4.1 The Owner agrees and covenants that it will diligently and faithfully, in <br />a good and workmanlike manner, pursue the completion of the Improvements. As a good <br />and valuable consideration for this Agreement, Owner further covenants and agrees that all <br />construction of the Improvements will be in accordance with all applicable state and local <br />laws, codes and regulations, or Owner will procure a valid waiver thereof. In further <br />consideration, Owner shall thereafter, from the date a Certificate of Occupancy is issued or <br />the Improvements are completed as agreed, until the expiration of this Agreement, <br />continuously operate and maintain the Property and the Improvements, including the <br />specific units of new equipment as identified herein, as a production and manufacturing <br />plant. <br />V. <br />Consideration <br />Jobs <br />5.1 The City has provided in its Guidelines and Criteria for Tax Abatements, <br />for tax abatement for the benefit of its existing employers, such as the Owner herein, to <br />im rove their respective businesses and industries, as well as their profitability, even <br />though no new jobs are created as a result thereof. The Guidelines and Criteria provide <br />3 <br />~ ~ _ 72 <br />