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329 <br />EXHIBIT I <br />(1) Primary Benericiga <br />Charles E. Fulbright has smoked bar -b -q for retail purposes for over 30 years. Mr. <br />Fulbright retired last year after working 34 years at Campbells Soup. He has <br />been smoking bar -b -que commercially for over one year. It is his proposal to provide <br />Paris with a full service restaurant located in the northeast area of town. <br />The new location will be a.516 acre tract of land located at 1490 Fitzhugh Ave. This area, <br />though chiefly residential is zoned, and is occupied, by various commercial concerns. <br />This site is undeveloped and is configured in a 150'x 150' square of open land. <br />The new building will be a 1,240 square foot frame construction on slab with a pitched <br />roof. It will have 20 parking spaces of 6,000 s.f., and will provide the neighborhood with a <br />full service bar -b -q restaurant, to be opened five days a week. They will serve lunch and <br />dinner with a drive through and take out options. This location is in the northeast part of <br />the City and is heavily populated. <br />This loan of $100,000 represents 50% of the total expense of $200,000. First Federal <br />Community bank, a local lender, will provide $50,000, or 25 %, an d the Owner with <br />$50,000, or 25% in land and equity. This new operation will produce 4 full time jobs and <br />3 part time jobs over the next 24 months. The Citys' loan would be secured by a second <br />lien on the land, real estate and improvements. <br />