20 & 21-APPROVE ABATEMENT REQUEST AS PRESENTED

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of-way acquisition and utility relocation for the Project exceed the amount the Authority is required to deposit with the Department pursuant to Section 1.5 hereof, and agrees to pay its pro rata share of any such additional cost to enable the Department to proceed with the timely completion of the Project. Such additional amount shall be submitted in a resolution requesting an amendment of Paris' budget for the then current fiscal year and if approved obligate the City Council of Paris to make this additional payment to the Authority within 30 days of such approval. 2.5 The Board of Directors of the Paris Economic Development Corporation ("Paris EDC") adopted a resolution on October 8, 2012 approving its rights, duties, and obligations pursuant to this Agreement. Paris EDC has committed to an amount equal to the cash contribution of $1,426,813.00 as its contribution for the Project, and hereby agrees to pay such amount to the Authority prior to the Deposit Date set forth in the SIB Loan Agreements. Paris EDC has also expressly recognized in the Paris EDC Resolution its further potential pecuniary liability should the Authority's "local match contribution" as set forth in the Advance Funding Agreement not be sufficient to pay the Authority's costs of rights-of-way acquisition and utility relocation relating to the Project. Should this potential pecuniary obligation arise, all of the Participants have agreed on a pro rata basis to fund the shortfall to enable the Department to proceed with the timely completion of the Project. Such additional amount shall be submitted in a resolution requesting an amendment of Paris EDC's budget for the then current fiscal year and if approved obligate the Board of Directors of Paris EDC to make this additional payment to the Authority within 30 days of such approval. 2.6 The City Council of the City of Cooper, Texas ("Cooper") adopted a resolution on October 8, 2012 approving its rights, duties, and obligations pursuant to this Agreement and the SIB Loan Agreements. Cooper will make the payments to the Authority, in the amounts and on the dates, as shown in Exhibit C-3 attached hereto (the "Cooper Obligations"). Cooper also expressly hereby recognizes its further potential pecuniary liability should the Authority's costs of rights-of-way acquisition and utility relocation for the Project exceed the amount the Authority is required to deposit with the Department pursuant to Section 1.5 hereof, and agrees to pay its pro rata share of any such additional cost to enable the Department to proceed with the timely completion of the Project. Such additional amount shall be submitted in a resolution requesting an amendment of Cooper's budget for the then current fiscal year and if approved obligate the City Council of Cooper to make this additional payment to the Authority within 30 days of such approval. 2.7 (a) The Participants agree that if the rights-of-way acquisition and utility relocation costs relating to the Project are less than projected, the SIB Loan Participants shall use their pro rata share of the surplus funds to pay down the SIB Loans balance in accordance with the prepayment provisions set forth in the SIB Loan Agreements. Then, the SIB Loan Participants' individual balances will be reduced on a pro rata basis based on the following table. The other Participants (Delta and Paris EDC) shall be entitled to a cash refund from such surplus amount based upon their pro rata share of costs and can use their cash refund for (i) any eligible transportation project as approved by the Authority, (ii) the payment or prepayment of Delta or Paris EDC's, as appropriate, allocable share of the Authority's administrative costs, or (iii) a cash refund to Delta or Paris EDC, as appropriate, upon obtaining the written consent form the authorized representative of the Authority. (See Table below for Percentages of Pro Rata Share of Costs): 95422970.15 - 5 -