17-J. SKINNER BAKING CO (SKINNER) TAX ABATEMENT REQUEST

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A total of $19,400,000.00 will be spent by OWNER in making these IMPROVEMENTS to the PROPERTY during the term of this tax abatement agreement. All such IMPROVEMENTS will be described in the CITY'S Certificate of Completion prepared after the completion and installation of the above described building modifications and improvements, personal property, machinery and equipment. The description shall be furnished by OWNER to CITY in OWNER'S sworn report described in Section 11.1, below and attached to CITY'S Certificate of Completion. The description shall also be 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 in the form attached hereto as Exhibit C. The IMPROVEMENTS will be at a cost equal to or in excess of $19,400,000.00 for the capital cost and installation of the building modifications, machinery, equipment and production lines. Site preparation shall occur during April, 2013, immediately after this Agreement is executed and approved by the CITY; installation shall commence in May, 2013; and production is expected to commence as soon as possible thereafter during the year, 2013. OWNER contemplates that all such IMPROVEMENTS shall be completed by the end of the year, 2017; 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 installation of the IMPROVEMENTS. For this purpose, "force majeure" 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 reflected in the Certifcate of Completion issued by the City of Paris, Texas, referred to above. IV. Consideration (Improvements) 4.1 The OWNER agrees and covenants that it will diligently and faithfully, in a good and workmanlike manner, pursue the completion of the IMPROVEMENTS. As a good and valuable consideration for this AGREEMENT, OWNER further covenants and agrees that all construction of the IMPROVEMENTS will be in accordance with all applicable state and local laws, codes and regulations or OWNER will procure a valid waiver thereof. In further consideration, OWNER shall thereafter, from the date a Certificate of Completion is issued, or that the IMPROVEMENTS are completed as agreed, until the expiration of this AGREEMENT, continuously operate and maintain the PROPERTY, including the specific units of new machinery and equipment as identified herein, as a food production plant. _. �d