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2026-023 - Approving and authorizing an Economic Development Agreement and Tax Abatement Agreement with R4U Ventures, LLC pursuant to the 5 in 5 Housing Infill Development ProgramRESOLUTION NO. 2026-023 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS APPROVING AND AUTHORIZING AN ECONOMIC DEVELOPMENT AGREEMENT AND TAX ABATEMENT AGREEMENT WITH R4U VENTURES, LLC PURSUANT TO THE 5 IN 5 HOUSING INFILL DEVELOPMENT PROGRAM; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, on January 27, 2025, the City Council of the City of Paris, Texas passed Ordinance No. 2025-003 creating Reinvestment Zone 2025-1 and designating certain areas inside the city limits to be eligible for the Residential Tax Abatement Program; and WHEREAS, after a public hearing on January 10, 2022, the City Council of the City of Paris, Texas passed Resolution No. 2022-003 stating its intent to establish a 5 In 5 Housing In -Fill Development Program (hereinafter "the Program") including low cost land sales and residential tax abatements and adopting guidelines and criteria for the Program, which guidelines and criteria from time to time have been amended, and were readopted most recently on January 12, 2026 by Resolution No. 2026-001; and WHEREAS, City Council has also, concurrent with the readoption of the guidelines and criteria referenced above, re -declared its intention to participate in a residential tax abatement program as part of the Program; and WHEREAS, the City Council has, in said guidelines and criteria, designated an area within Reinvestment Zone 2025-1 as being eligible for the Program; and WHEREAS, the Program's and guidelines for participation therein include criteria and guidelines for eligibility for residential tax abatements; and WHEREAS, R4U Ventures, LLC ("Owner") has submitted an application for a 5 In 5 Housing Infill Development project to construct ten (10) single family homes on its privately -owned property described in Exhibit A hereto; and WHEREAS, city staff has reviewed the application and the location of the above described residential Improvements and has determined that the properties are located within the boundaries of the defined geographic area and Reinvestment Zone 2025-1 and meet the requirements for Improvements set forth in the guidelines and criteria for the Program readopted on this same date. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, THAT: Section 1. The findings set out in the preamble to this resolution are hereby in all things approved and are incorporated herein for all purposes. Section 2. That the terms of the Economic Development Agreement and Tax Abatement Agreement between the city and R4U Ventures, LLC and the property the subject thereof meet the City's Guidelines and Criteria for Tax Abatement adopted by the City of Paris by the resolution set forth in Exhibit 1 to Exhibit A hereto and will lead to the economic development of the Program Area. Section 3. That the terms and conditions of the proposed Agreement attached hereto as Exhibit A and incorporated herein by reference, having been reviewed by the City Council of the City of Paris and found to be acceptable and in the best interests of the City of Paris and its citizens, be, and the same are hereby, in all things approved. Section 4. That the Mayor is hereby authorized to execute the Agreement and all other documents in connection therewith on behalf of the City of Paris substantially according to the terms and conditions set forth in the Agreement attached hereto as Exhibit A. Section 5. That the planned use of the property the subject of the tax abatement will not constitute a hazard to public safety, health, or morals. Section 6. That this approval and execution of the agreement on behalf of the City is not conditioned upon approval and execution of any other tax abatement agreement by any other taxing entity. PASSED AND APPROVED by the City Council of the City of Paris, Texas at its regular meeting on the 22nd day of June, 2026. M it ankaj, Mayor ATTEST: Janice Ellis,Cit Clerk A. �r{y hr ... it'- ..._ y � +y Gl�r APPROVED AS TO FORM: Step anie H. Harris, City Attorney Exhibit A THE STATE OF TEXAS COUNTY OF LAMAR ECONOMIC DEVELOPMENT AND RESIDENTIAL TAX ABATEMENT AGREEMENT This Economic Development and Residential Tax Abatement Agreement (hereinafter the Agreement) is entered into by and between the CITY OF PARIS, TEXAS, a home rule municipality situated in Lamar County, Texas, acting by and through its authorized officer whose signature appears below (hereinafter called City), and R4U VENTURES, LLC (hereinafter referred to as Owner). WITNESSETH: WHEREAS, on January 27, 2025, the City Council passed Ordinance No. 2025- 003 creating Reinvestment Zone 2025-1, designating certain areas inside the city limits to be eligible for the Residential Tax Abatement Program; and WHEREAS, after a public hearing on January 10, 2022, the City Council of the City of Paris, Texas passed Resolution No. 2022-003 stating its intent to establish a 5 In 5 Housing In -Fill Development Program (hereinafter the Program) including low cost land sales and residential tax abatements and adopting guidelines and criteria for the Program; and WHEREAS, by Resolution 2022-003, City Council designated an area within Reinvestment Zone 2025-1 (then known as Reinvestment Zone 2020-1) as being eligible for the Program (the Program Area); and WHEREAS, City Council has revised the guidelines and criteria for the Program and for tax abatement agreements granted thereunder three times, the most recent revisions adopted by Resolution 2025-025 on May 12, 2025; and WHEREAS, Owner has submitted an application for a 5 In 5 Housing Infill Development project to construct ten (10) single family homes (hereinafter the Improvements) at the properties described herein below in Paris, Texas (the Properties); and WHEREAS, city staff has reviewed the application and the location of the above described residential Improvements and has determined that the Properties are located within the boundaries of Reinvestment Zone 2025-1 and are within the defined geographic area of the Program Area, and the application meets the requirements for Improvements set forth in the Guidelines and Criteria for the 5 In 5 Housing Infill Development Program as set forth in City Resolution No. 2025-025. NOW, THEREFORE, in consideration of the terms and conditions referenced herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the City, and Owner, (collectively referred to as Parties) hereby mutually agree as follows: I. Recitals 1.1 The Recitals set forth hereinabover incorporated into this Agreement r all purposes. II. Component Parts 2.1 This Agreement comprises two component parts, including an economic development agreement pursuant to Texas Government Code Chapter 380 and a residential tax abatement agreement pursuant to Texas Tax Code Section 312. III. Terms Applicable to both the Economic Development Agreement and the Residential Tax Abatement Agreement: A. The Properties—Areas to be Improved 3.1 The Improvements defined in section III B below and made the subject of this Agreement shall be located on the Properties located in Paris, Lamar County, Texas more fully described in Exhibit 1 attached hereto and incorporated herein by reference, which Properties are within Reinvestment Zone No. 2025-1 and within the area set forth in the Program: • LCAD# 17766, City of Paris Block 234, Lots 27-36 inclusive, 17th St. NW 3.2 The Properties listed are privately owned by Owner. B. Consideration --Improvements 3.3 The Improvements to be completed consist of ten (10) single family home structures (the Structure or Structures) on the above described Properties and as more fully described in the application for the Program attached hereto and incorporated herein as Exhibit 1. 3.4 The total estimated value of the Improvements to be constructed on the above -referenced parcels is at least TWO MILLION AND N01100 DOLLARS ($2,000,000.00). 3.5 Owner shall obtain City approval for all necessary platting (if required) and plans, building permits, green tags and a Certificate of Completion from the City of Paris. NEI 3.6 Owner shall allow city inspectors access to the Properties and Improvements throughout construction and completion of Improvements. 3.7 Owner agrees and covenants that it will diligently and faithfully construct each Improvement/Structure referenced herein in a good and workmanlike manner within 12 months of obtaining building permits from City for each structure. Owner further covenants and agrees that construction of the Improvements will be in accordance with all applicable state and local laws, codes, regulations, and Program Guidelines or Owner will procure a valid waiver or variance thereof. Owner shall complete all Improvements required herein on or before June 21, 2031. 3.8 Owner shall contact City Building Official for final inspection as Improvements are completed and obtain a Certificate of Completion for the new residential dwellings as completed. 3.9 Owner shall notify the Lamar County Appraisal District upon completion of Improvements and request an updated appraisal of the Improvements. 3.10 Owner shall provide City with appraised value of Improvements upon receipt of same from Lamar County Appraisal District. 3.11 Owner may not use the parcels described in Section 3.1 for any other purpose other than to construct the Improvements set forth in this Article. Use of any parcel for any other purpose shall constitute a separate act of default of the Agreement and will trigger the default provisions and remedies set forth hereunder. IV. Terms Specific to the Economic Development Agreement— Texas greementTexas Local Government Code Chapter 380 A. Term 4.1 The term of this Economic Development Agreement shall commence on June 22, 2026 and shall continue for a period of five (5) years ending on June 21, 2031. B. Reduced Fees for Building Plan Review and Permitting 4.2 In consideration for Owner's construction and completion of the above - referenced Improvements, City agrees to reduce rates for building plan review by one hundred percent (100%) and permit fees by one hundred percent (100%) for each Structure constructed pursuant to this Agreement. C. Reduced Fees for Water and Sewer Tap Labor 4.3 In further consideration for Owner's construction and completion of the above -referenced Improvements, City agrees to reduce rates for water and sewer tap J labor fees by twenty-five percent (25%) where required by the City's Public Works Department. D. Local Purchasing 4.4 As further consideration for the incentives granted herein, where possible, Owner shall purchase building materials and fixtures from vendors located within the City of Paris. E. Default 4.5 It shall be an act of default of the Economic Development Agreement should Owner fail to construct and compete all of the Improvements specified herein within the five (5) year period set forth herein (by June 21, 2031). V. Terms Specific to the Residential Tax Abatement Agreement Texas Tax Code Chapter 312 A. Term 5.1 The term of this Tax Abatement Agreement shall commence on June 22, 2026. It is the intention of this Tax Abatement Agreement that Owner receive an abatement of taxes on each Structure constructed as it is completed and issued a Certificate of Completion by City. Consequently, each Structure constructed and completed shall have its own five (5) year abatement period. The abatement period for each constructed and completed dwelling unit shall commence on January 1 of the year following City's issuance of a Certificate of Completion on said dwelling unit and end on the fifth (5th) anniversary of the commencement of the abatement period. This Tax Abatement Agreement shall terminate upon the expiration of the final abatement period granted herein unless otherwise terminated by default or agreement of the Parties. B. Abatement 5.2 Subject to the terms and conditions of this Economic Development Agreement and Tax Abatement Agreement, in further consideration for the construction and completion of the Improvements required herein and subject to the rights and holders of any outstanding bonds of the City, a portion of the maintenance and operations (M & O) ad valorem property taxes assessed upon each Improvement and otherwise owed to the City shall be abated for a period of five (5) years in an amount equal to 100% per year of the taxes assessed upon the increased value of the Improvements made by Owner to the Properties described in Section 3.1 of this Agreement, over the value in the year by which this agreement is executed (the "Base Value"), in accordance with the terms of this Agreement and all applicable state and local regulations or valid waivers thereof; provided that the Owner shall have the right to protest or contest any assessment of the Properties and said abatement shall be applied to the amount of taxes finally determined to be due as a result of any such 4 5.4 This abatement is granted in accordance with the City's Guidelines and Criteria for the Program, a copy of which is attached hereto as Exhibit 2, provided, however, that in the event of any conflict between this Agreement Exhibit 2, this Agreement shall control. 5.5 Upon receipt of the documentation set forth in Article III and in Section 6.6 herein as to each constructed and completed Structure, City will notify the Lamar County Appraisal District to begin the tax abatement as to said Structure. 5.6 If (a) the Improvements (all ten residential Structures) for which an abatement has been granted are not completed in accordance with this Agreement (b June 8, 2030)1- or (b) Owner allows its taxes owed the City to become delinquent and fails to timely and properly follow the legal procedures for protest or contest of any suc or (c) Owner materially breaches any of the other terms, provisions or conditions of thl Economic Development Agreement and Tax Abatement Agreement, including but not i limited to the Mandatory Anti-rn Provisions set forth herein, then owner shil be considered in default of this Agreement. In the event Owner defaults in its performance of either (a), (b), or (c) above, then City shall give Owner written notice of such default and if Owner has not cured such default within sixty (60) days of said written notice, this Tax Abatement Agreement may be terminated by the City. Notice o default shall be given in accordance with Article VI of this Agreement. 5.7 As damages in the event of default, and in accordance with the requirements and discretionary provisions of Section 312.205 of the Tax Code of the State of Texas, all taxes which otherwise would have been paid to the City without the benefit of abatement, including taxes on those dwelling units constructed and complet according to the terms of this Agreement, together with interest to be charged at the statutory rate for delinquent taxes as determined by Section 33.01 of the Property Tax Code of the State of Texas, with all penalties and attorney's fees permitted by the Property Redevelopment and Tax Abatement Act and the Tax Code of the State of Texas, shall be recaptured and will become a debt to the City and shall be due, owing, and paid to the City within sixty (60) days of the expiration of the above-mentioned applicable cure period as the sole remedy of the City, subject to any and all lawful offsets, settlements, deductions, or credits to which Owner may be entitled. M Additional Terms applicable to both the Economic Development Agreement and the Tax Abatement Agreement A. No Conflict of Interest. 6.1 The Owner represents and warrants that neither the Properties nor the Improvements include any real or personal property that is owned or leased by a member of the Paris City Council or the Planning and Zoning Commission or any member thereof having responsibility for approval of this Agreement. B. Conditions. 6.2 The terms and conditions of this Agreement are binding upon the parties hereto and their successors and assigns. 6.3 It is understood and agreed between the parties that the Owner, in performing its obligations hereunder, is acting independently, and the City assumes no responsibility or liability in connection therewith to third parties; and Owner agrees to release, indemnify and hold the City its elected officials, officers, employees and attorneys harmless from any claims, lawsuits, damages, costs or attorney's fees related to this Agreement. It is further understood and agreed among the parties that the City, in performing its obligations hereunder, is acting independently, and the Owner assumes no responsibility or liability in connection therewith to third parties. C. Compliance Provisions 6.4 The Owner agrees that the City, its agents and employees, shall have reasonable right of access to any and all records concerning Owner's investment in the Improvements for the purpose of conducting an audit of the Improvements. Any such audit shall be made only after giving the Owner notice at least fourteen (14) days in advance and will be conducted in such a manner as to not unreasonably interfere with Owner's property. Upon request, the Owner will provide the City with a detailed list of all Improvements, including a list of materials used and cost thereof. 6.5 The Owner further agrees that the City, its agents and employees, shall have reasonable right of access to the Property to inspect the Improvements in order to insure that the construction of the Improvements are in accordance with this Agreement and all applicable state and local laws and regulations or valid waiver thereof. After completion of the Improvements, the City shall have the right to enter the Property and conduct an inspection of the completed Improvements. D. Initial and Annual Reporting. 6.6 The Owner further agrees that it will, within thirty (30) days of completion of each dwelling unit as it issued a Certificate of Completion by the City, provide the CITY with a sworn report, written on Owner's letterhead and signed by a designated 6 (a) A copy of the printout from the Lamar County Appraisal District showing the market value of the Property prior to the construction of the Improvements; P'c k ) A copy of or identification of plans and specifications of constructed 'mprovements and the location of the same for inspection by City's W Wuilding Official; (e) The date of substantial completion of the specific Improvements as defined in paragraph 2.1 hereof; and (f) Receipts showing that the purchase of building materials and fixtures for the construction were made from vendors within the City of Paris, when possible. 6.7 Owner further agrees that it will provide City with an annual, sworn report which shall certify, in writing, that it is in compliance with each applicable term of this Agreement. Such annual report shall be furnished on the forms provided by the City. E. Authority to Contract. 6.8. This Agreement was authorized by resolution of the City Council at its regularly scheduled meeting on the 22nd day of June, 2026 authorizing the Mayor to execute the Agreement on behalf of the City. 6.9 This Agreement was entered into by Owner pursuant to the authority granted to the authorized official whose signature appears below. 6.10. This Agreement shall constitute a valid and binding Agreement between the City and Owner when executed in accordance herewith, regardless of whether any other taxing unit executes a similar agreement for tax abatement. 6.11 -Ao officer, official or agent of the City has the power to amend, modify or -?.Iter this Agreement or waive any of its conditions or to bind the City by making any promise or representation not contained herein. 6.12 This Agreement, except by operation of law, shall not be assigned or transferred by Owner, without the prior written consent of City, which consent shall be at the sole discretion oft City. 7 6.13 Any written notice required or permitted under the terms of this Agreement shall be given and be deemed to have been duly served if either (1) delivered in person, or (2) deposited certified mail, return receipt requested, postage prepaid in the United States mail, addressed to the designated representative of the respective parties which are designated as follows: OWNER: R4U Ventures LLC 210 W. Main St. Ste. 130 Gun Barrel City, Texas 75156 CITY: CITY OF PARIS, TEXAS Attn: City Manager P. O. Box 9037 Paris, TX 75461-9037 With a copy to: City Clerk, City of Paris, Texas (Address same as above) 6.14 If any term or provision of this Agreement shall be declared unconstitutional or void by any court of competent jurisdiction, the constitutionality and validity of the remainder of said Agreement shall not be affected thereby, and to this end the terms and provisions of this Agreement are declared to be severable. 6.15 This Agreement sets forth the entire understanding between the parties, and any other understandings or agreements shall be canceled and superseded by this Agreement upon the date of execution hereof. None of the terms of this Agreement shall be waived, discharged, altered or modified in any respect, except by an Agreement in writing signed by both parties and specifically referring to this Agreement. The captions in this Agreement are included for convenience only and shall not be taken into consideration in any construction or interpretation of this Agreement or any of its provisions. This Agreement is performable in Lamar County, Texas, and shall be governed by, construed and enforced in accordance with the laws of the State of Texas. The provisions of this Agreement shall apply to, bind and inure to the benefit of the City, Owner, and their respective successors, and permitted assigns, if any. 6.16 Venue for any actions arising under this Agreement shall lie exclusively in the courts of Lamar County, Texas, for any State Court action, and in the U.S. District Court for the Eastern District of Texas for any federal court action. 6.17 MANDATORY ANTI -BOYCOTT AND OTHER PROVISIONS. Owner, by executing this agreement, certifies the following: i. Pursuant to Section 2271.002 of the Texas Government Code, Owner certifies that either (i) it meets an exemption criterion under Section 2271.002; or (ii) it does not boycott Israel and will not boycott Israel during the term of the Agreement. Owner acknowledges this Agreement may be terminated and payment withheld if this certification is inaccurate. ii. Pursuant to SB 13, 87th Texas Legislature, Owner certifies that either (i) it meets an exemption criterion under SB 13, 87th Texas Legislature; or (ii) it does not boycott energy companies, as defined in Section 1 of SB 13, 87th Texas Legislature, and will not boycott energy companies during the term of the Agreement. Owner acknowledges this Agreement may be terminated and payment withheld if this certification is inaccurate. iii. Pursuant to SB 19, 87th Texas Legislature, Owner certifies that either (i) it meets an exemption criterion under SB 19, 87th Texas Legislature; or (ii) it does not discriminate against a firearm entity or firearm trade association, as defined in Section 1 of SB 19, 87th Texas Legislature, and will not discriminate against a firearm entity or firearm trade association during the term of the Agreement. Owner acknowledges this Agreement may be terminated and payment withheld if this certification is inaccurate. iv. Pursuant to Subchapter F, Chapter 2252, Texas Government Code, Owner certifies Owner (1) is not engaged in business with Iran, Sudan, or a foreign terrorist organization. Owner acknowledges this Agreement may be terminated and payment withheld if this certification is inaccurate. WITNESS our hands this 22nd day of June, 2026. THE CITY OF PARIS, TEXAS Y' ..___Mihir Pa .�ka._ "" nj, ayor ATTEST: Janice Ellis, City Clerk i(trv- G� AP'.44EWED AS TO FORME - J "I A a rri s Stepllarl te H pity tt6rneil HAN4A-:F���'" STATE Or TEXAS or COUNTY R4U VENTURES LLC 40 gy Name- Micha I WhAe Title -.J!-" L o BEFORE ME, the undergignedauftrity, on this day persMally a--ppear&cfr Michael White, of k4u Ventures LIC, knavvri to me to be the. person 'All0ge naMe iS SUbscribed to tho forogoing instrument, and acknovAe'dged to M6 that hl, executed the same for the purposes and consideration therein expressed, area iihei capacity therein stated. Given under my lhand and seal of office this day ofJune, 2026. =eco,d, Do,; Levesty Verner My COMIrMwOon IX&O M 0C,_ V"" 911612029 Notary 1 Notary 10115032416j] Not7a� ublic, State of Texas Exhibit 1 11 CITY OF PARIS, 1 VAS APPLICATION FOR RESIDENTIAL TAX ABAT'EIVIENT (5 lin Applicant: Naryie� -,,,,R ,4U Ven.tures 1 LC (KchaO White) DBk: . . ...... .......... . . lll-----.�". " — 210 W Main St Suite 130 Guri Barire9 City, 'TX 75156 Maftg, Address� . ......... .......... Telephone W : � 214-418 8598 �Michaei@��4t.jveiiitii.irchi�,,.roiiii . ............ . . .... . tmail: ......................... ............. ME= Name: F414 Ul Ventures 1.1-C 6l (MichaWhite) —DBA: .......... --- . ... ... Ma� ing Address �_ 210 W li St Suite 130 Gun Barrell City, 11 X 75156 'Ndelphone M — 9 14 4 1, a-, 4 1) —8 Emailli �Mic�Iiiae�,(a.)r4�,Aveintt.ires.corh ................. . I I �- - 1-1 � ....... ,'e --'. Property Parcel(s) Proposed for Aigireamr#rA, No. LCAI) 9 Adtegs Lot blotk Addition 17766 TBD NW 17th 32 234 City of Paris 2, 17766 1-1-1 . . TBD NW 17th 33 234 City of Paris 3, - . ........... 17766 TBD NW 17th 34 234 City of Paris . ........... . ... ,41 17766 TBI) NW 17th 35 ... ........ 234 City of Paris 17766 TBD NW 17th .. 36 ....... .. ... 234 .. . . . .. . . ...... .............. City of Paris Add addiflonall sheeb 0 rwcessary. FuH Lipgail Il escriipfiw,,r Indlude as an attachrnant a fi.iilll pegW tlpvrlptiora with vheitcx�and bounds (5iir a copy of thrar deed, !if avaiiiiaWe, MMMM= Type improven)ents for new Constiructkni (tJvck One). X Sir 21F Mir Tot ll Number of OW01118 E-stiimated Value of IiMprmloMonts i,,�y type. $1,000,000 ASAP Estimated Data of Compilevon of Project(s) 6-7 Months .. . ...... ..... - Oestrip'duri of Project (attoch sijtgcp, ppgrr, fio(jf pi ttc�); SFR 1200sq ft 3/2 with attached carport Apipilleant's Signiatutc.DOC 5/6/202.5 ... ...... . . .... . 5/6/2025 Page 7 of 7 GENERAL WARRANTY CREED 26-20818 (01811) NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANV INSTRUMENT THAT TRANSFERS AN INTERESTIN REAL PROPERTY BEFORE IT IS FILET) FOR RECORD IN T I -IE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENS i NUMBER. Effective Date: March =, 2026 Grantor: Siegfried Feth, a single man Grantee: R4U Rentals -A2, LLC, a Texas Series Limited Liability Company, Series E Consideration: TEN AND NO/400 DOLLARS ($10.00) and other good and valuable consideration. Property: SEE T."SIF ATTACHED EXHIBIT "A" INCORPORATED HEREIN FOR ALL NECESSARY PURPOSES Reservations From and Exceptions to Conveyance and Warranty: This conveyance, however, is made and accepted subject to all outstanding mineral interest, restrictions, reservations, easements, covenants and conditions, relating to the herein above described property as now reflected by the records of the County Clerk of Lamar County, Texas. 232236-2026 WD 04/01/2026 09:55 AM Total Pages: 5 Ruth Sisson, County Clerk - Lamar County, TX BY:STONE TITLE COMPANY, INC NotaryCam Doc ID: 4732f18c-7127-4487-ab3e-fd5Oa6092e1b TN 14218 Page 2 of 5 232236-2026 Page 2 of 5 i Grantor, for the consideration, receipt of which is acknowledged, and subject to the reservations from and exceptions to conveyance and warranty, grants, seffs and conveys to Grantee the property, together with all and singular the rights and appurtenances thereto in i any wise belonging, to have and hold it to Grantee, Grantee's heirs, executor, administrators, successors or assigns forever. Grantor binds Grantor and Grantor's heirs, executors, administrators and successors to warrant and forever defend all and singular the property to Grantee and Grantee's heirs, executors, administrators, successors and assigns against every person whomsoever lawfully claiming or to claim the same or any part thereof, except as to the reservations from and exceptions to conveyance and warranty. Payment of ad valorem taxes for the current year having been assumed by grantee, When the context requires, singular nouns and pronouns include the plural. Siegfried Feth NotaryCam Doc 1D: 4732f78c-7127-4487-ab3e-fd50a6092e1b TN 14218 Page 3 of 5 232236-2026 Page 3 of 5 ACKNOWLEDGMENT State of Virginia r Cit' of Hopewel I This notarial act was an online notarization. This instrument was acknowledged before me on the 31 day of ___March 2026, by Siegfried Peth. E A MILLER GARRISnic Notary Publicwealth of Virginia ion No. 7836123 iota Public, State ofVir.inia Expires Feb 28, 2027 ��'� ........, Completed via Remote Online Notarization using 2 way Audio/Video technology. After Recording Return To: F" 9 NotaryCam Doc ID: 4732f78c-7127-4487-ab3e-fd50a6092e1b TN 14218 Page 4 of 5 ""airs krArrAm sunvEy A N 00'53'41" F 50,01' CITY 13LCCK 234 (7.8—A PIAT RECORI)S 1 RYA PRATE t LOTS 37 h 3a ory Q1.00K [ rta L'uv(7AE est f'A( 207 SIR wAr.16 TENPii1A4 AMU tuFE F SIR EAST €F}9.3� — OR VOLINOD. PAGF 417 STE�'lr t K1LF. Wt"t W AND WE. SIR Gl"RY L MCKS50x4 DR tCtUlE 6677, PAGE 335 -- — SCALE. I"= 100' Fp #— {h 'AL(LTY to l MERSW Ar;D VJFE. 4PoMA A. M(XFRl;W CALLED 21.660 5Ol3T[ EY27 PFF7S FlhbltAT FOR 11J74A18TY MC DR �'Ct,UL'' SJC PAGE 62 lois 27-36, CITY BLwc zit Tai %i')U 1F :153, PA'k 284 1 390-00' POB �— EAS7sa PACE ar FIR SIR 4(ES oft VOLWC fIR�.189.8i3,...1 f I (REFERENCIE BEA# IN(� ) LDrsI�T�ta aiorx x ttxxrY ACDuncxt VR M WI VW. PACE 603 C I I, KEVIN K. MITIEY, REGISTERED} PROFESSIONAL LAND SURVEYOR FOR THE STATE OF TEXAS, RFIS jF5892, DD HEREBY CERTIFY THAT THE PLA1" SHOWNHEREIN REPRESENTS AN ACTUAL ON—THE—GROUND SURVEY CONOUCTFD BY }ir C hll' E)LD ON/FEBRIJARY 16, 2007. FEB 16 2007 AWTAT F01? ffUpjArjj RECYSTFR.D PROFC=In14N 1du' n ca in, rvA,o rltalvi7�tt �tv�r�a��r3rnt� r�s+ccrt��o�r�x, r,UTt.SULYANrS i't..6fJNEFiJ e7YRINL,EIts 4Qa5 5_� RdOP 2a6 PhR7SA 7�JZAS C"Y Cbz` PAFWArS 2,100.4CRE S LAMA" a0umv, TEXAS FEWiPUAr;< Y 2007 NotaryCam Doc ID: 4732f78c-7127-4487-ab3e-fd5Oa6O92e1b SET'IRON ROD FOUND IRON ROD REAL PROPERTY RECORDS DEED RECO,RbS OFFICIAL PUBLIC RECORDS PONT OF BEGINNING 1 p Z � a j--- o W _ "2,180 ACRES YMMuZ 1 M, PACE 93 f�3 3 TEDOY FRANKU4 S+10Il1f7;7lQv I� LOT 22. air &ccK 234 RP %WJW 701, PACE 307 S— r- 0 n 1 390-00' POB �— EAS7sa PACE ar FIR SIR 4(ES oft VOLWC fIR�.189.8i3,...1 f I (REFERENCIE BEA# IN(� ) LDrsI�T�ta aiorx x ttxxrY ACDuncxt VR M WI VW. PACE 603 C I I, KEVIN K. MITIEY, REGISTERED} PROFESSIONAL LAND SURVEYOR FOR THE STATE OF TEXAS, RFIS jF5892, DD HEREBY CERTIFY THAT THE PLA1" SHOWNHEREIN REPRESENTS AN ACTUAL ON—THE—GROUND SURVEY CONOUCTFD BY }ir C hll' E)LD ON/FEBRIJARY 16, 2007. FEB 16 2007 AWTAT F01? ffUpjArjj RECYSTFR.D PROFC=In14N 1du' n ca in, rvA,o rltalvi7�tt �tv�r�a��r3rnt� r�s+ccrt��o�r�x, r,UTt.SULYANrS i't..6fJNEFiJ e7YRINL,EIts 4Qa5 5_� RdOP 2a6 PhR7SA 7�JZAS C"Y Cbz` PAFWArS 2,100.4CRE S LAMA" a0umv, TEXAS FEWiPUAr;< Y 2007 NotaryCam Doc ID: 4732f78c-7127-4487-ab3e-fd5Oa6O92e1b SET'IRON ROD FOUND IRON ROD REAL PROPERTY RECORDS DEED RECO,RbS OFFICIAL PUBLIC RECORDS PONT OF BEGINNING 1 U Ou:Aoct nOlEY NO) WiFF- ur urtDA p#71EY YMMuZ 1 M, PACE 93 --Lu TEDOY FRANKU4 S+10Il1f7;7lQv LOT 22. air &ccK 234 RP %WJW 701, PACE 307 d SIR L 1TMDY FRAMR4 WOTHEjNC i RP BLOCK 234 DR Rfi VOLIkJC 701, YAt;< 20.5 OR — _.- P08 JAkES COOKE LOT 24, CITY BLOCK 234 RP 1•L M4C WS3, PAGE 29 FRANOSCC GlA4ZZ AM ►JAMA CC•1i EZ^ LOT ?5 CITY BLOC( 234 OR VOLU1fE 14M, PALS 42 ^!cetyl s. cazlrAMO ra1E, ^ --- F&Wfit J. Crit1F L07 20CITY <kocr 214 1 390-00' POB �— EAS7sa PACE ar FIR SIR 4(ES oft VOLWC fIR�.189.8i3,...1 f I (REFERENCIE BEA# IN(� ) LDrsI�T�ta aiorx x ttxxrY ACDuncxt VR M WI VW. PACE 603 C I I, KEVIN K. MITIEY, REGISTERED} PROFESSIONAL LAND SURVEYOR FOR THE STATE OF TEXAS, RFIS jF5892, DD HEREBY CERTIFY THAT THE PLA1" SHOWNHEREIN REPRESENTS AN ACTUAL ON—THE—GROUND SURVEY CONOUCTFD BY }ir C hll' E)LD ON/FEBRIJARY 16, 2007. FEB 16 2007 AWTAT F01? ffUpjArjj RECYSTFR.D PROFC=In14N 1du' n ca in, rvA,o rltalvi7�tt �tv�r�a��r3rnt� r�s+ccrt��o�r�x, r,UTt.SULYANrS i't..6fJNEFiJ e7YRINL,EIts 4Qa5 5_� RdOP 2a6 PhR7SA 7�JZAS C"Y Cbz` PAFWArS 2,100.4CRE S LAMA" a0umv, TEXAS FEWiPUAr;< Y 2007 NotaryCam Doc ID: 4732f78c-7127-4487-ab3e-fd5Oa6O92e1b SET'IRON ROD FOUND IRON ROD REAL PROPERTY RECORDS DEED RECO,RbS OFFICIAL PUBLIC RECORDS PONT OF BEGINNING 1 TN 14218 Page 5 of 5 .__232236-2026_-P__age 5 -of _5. F1EIr13 RlC3`1'ES Habitat for Humanity 1n0, 2.180 Acres Lamar County, Texas lrehruary 2007 Being 2.180 acres of land, situated within the corporate limits of the City of Paris, County of Lamar, State of "l'exas, being a part of the Larkin R-atttan Survey A-778, also knoWri as Lots 27, 28, 29, 30, 31, 32, 33, 34, 35, and 36, City Block 234, as conveyed from 1:rinccs "Travis and Sus -all Gibson to Paris Habitat for Humanity, Ino. on Decerrl'6cr 27, 2.001, and recorded in Volume 1 153, Page 284 of the Real Property Records of said county, The said 2,180 acre tract fully described by metes and hounds as follows: Beginning at a 'lz inch iiun rod found for the Sollthwcst corner of a tract of land conveyed as Lot 26, City Block 234 from Atplaonso Jackson, Seert;taty of Housing and Urban Development to Kevin I3- Gillfe and w'i.fe., Taromi J. Giflie on March 10, 2005, and recorded in Volume 1728, Page 307 of the Ofllch11 Public Records ofsaid cotulty, said rod tieing located direst (Reference Bearing), at a distance of 189.88 feet iiom n'/z inch iron rod found for tito,Soatlteast comer of Lot 26, said rod also being in the North boundary line of a 0 -au of land known as Lots 1, 2, and 3, Block 2, of the Maxey Addition as conveyed from Leon Williams to Poster Stone or; April 1, 1981, and recorded in Volamc 633, Page 603 Of the Deed Records of said county; Tlience Vest, 210119 thiD Nordi boundary title of the afon;meridoned Stole tract, a disUmc-o of 190.00 feet to a % irleh capped iron roci.set,at the Southwest comer Lot 27, City 13 look 234; said rod also Being located in tiae East line of 179 Street Northwest; Thence N 0&15'04" W, along the Fist line of 11'19 Street Northwest a distance of 450,0(1 feet to a iz inch capped iron rod set for the SotAf,-st corner of Lot 36, City Block 2.34, as shown_ on the plat -of said block recorded;in envelope 28•A, in Plat Records La nar County Texas; - Thence N W53'41" E, a distance of 50.0; feet to `a V- inch capped iron rod set at the Northwest comer of the aforementioned Lot 36, said roof also being located at theSouthwest coater of a tract of lapel conveyed froth Ethel M. White to Elva Pratt on January 11, 2000, and recorded in Volume 942, Page 207 of die Real Property Records of said county; Thence East, along the North line of Lot 361 a distance of 189.00 feet to a '/a inch capped iron rod set at the Northeast corner of Lot 36, said rod also being located in the West boundary line of a tract of land conveyed frons George W. Pratt and wife, Mildred L, Pratt to Wayne 'I'empletola and wife., Emilie Templeton on March 21, f968, and recorded ill Voitirne 469, Page 467 of the Deed Records of said county; Thence S 00°15'04" E, at a distance cif 193.41 feet passing a 318 inch iron rod found for tho Northwest corder of a pact of land conveyed front Brandon Cheney and wife, puree Cheney to Darron Chaney and wife, Linda Cheney on June 30, 2006, and recorder! in Volume 1780, Page 93 of the Official Public Records of said county, and continuing on for a total distance of 500,00 feet to the point of beginning and containing 2.180 acres of land. { 1, KEVIN K. WPIITLEY, REGISTERED PROFESSIONAL LAND SURVEYOR, 115842, STATE OF TEXAS, HEREBY CERTIFY THE ADOVI , IS TAKEN FROM MEASUREMENTS MADR UPON TIffi GROUND, FEB 16 2007 .. NotaryCam Doc ID: 4732f78c-7127-4487-ab3e-fd50a6092elb A S Tlu"'-v�wtl' k CITY OF PAIIIS, TEXAS APPl[.JCAI ION FOR RESIDENTIALTAX ABA"I I'll"MEN1' (5, fim!`;�p Ajoplkaint., 'qwnntw R4U Ventures LLC (Michael White) DBA. . . .................. 110aufirig Address: 21O Main St Suite 130 Gun Barrel City, TX 75156 _. 214-418-859$_. . .. . . ..... ........ . . . . ..... ow@llev: N,Airne„ NU Ventures LLC (Michael White) DDA: . . ....... . . MailinAddrcsss, 210 W Main St Suite 130 Gun Barrel City, TX 75156 g. ........ . .... . . . . ................ . . ..... ........ Telephone M 214-418-8598 Email: Michael @r4uvenlures.com Property Parcel(s) Prolpossid for Agreemeew. Na� LCAD # Adrets Lot block Af1difloo 17766 TBD NW 17th 27 234 City of Paris 17766 TBD NW 17th 28 234 — City of Paris 3. 17766 TBD NW 17th 29 -- 234 - ------ ------ City of Paris . 4, ...... .. ... 17766 TBD NW 17th . ..... 30 .—.— — 234 - - — — - _-- "v — " -- - City of Paris 5. 17766 TBD NW 17th ..... . ........... 31 . 234 City of Paris A(M addiflurafl theets if viet;P13SAry, HAI UgalDesfripVor�: Piridlude as an attathrinent, a 10 f0g;fl detvriiJ06n with arid bounds Or i c.opy of the deed, if avaffabk?, inraprovemients., 1'yive ifllipirovempnts kv now (,unstinxdem (Chedr, oine)° XSIF 2r: Mr - 5 I iwfl NuWbor (A'Dweflkng tirnBros FstkirkAted Vahie of hmprovwnents by type$1'000'000 ASAP'--.---- Estknoted Start Dateof (�onstruclbrc ___ . ...... .. ... 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THE STATE OF TEXAS COUNTY OF LAMAR ECONOMIC DEVELOPMENT AND RESIDENTIAL TAX ABATEMENT AGREEMENT This Economic Development and Residential Tax Abatement Agreement (hereinafter the Agreement) is entered into by and between the CITY OF PARIS, TEXAS, a home rule municipality situated in Lamar County, Texas, acting by and through its authorized officer whose signature appears below (hereinafter called City), and R4U VENTURES, LLC (hereinafter referred to as Owner). WITNESSETH: WHEREAS, on January 27, 2025, the City Council passed Ordinance No. 2025- 003 creating Reinvestment Zone 2025-1, designating certain areas inside the city limits to be eligible for the Residential Tax Abatement Program; and WHEREAS, after a public hearing on January 10, 2022, the City Council of the City of Paris, Texas passed Resolution No. 2022-003 stating its intent to establish a 5 In 5 Housing In -Fill Development Program (hereinafter the Program) including low cost land sales and residential tax abatements and adopting guidelines and criteria for the Program, and WHEREAS, by Resolution 2022-003, City Council designated an area within Reinvestment Zone 2025-1 (then known as Reinvestment Zone 2020-1) as being eligible for the Program (the Program Area); and WHEREAS, City Council has revised the guidelines and criteria for the Program and for tax abatement agreements granted thereunder three times, the most recent revisions adopted by Resolution 2025-025 on May 12, 2025; and WHEREAS, Owner has submitted an application for a 5 In 5 Housing Infill Development project to construct ten (10) single family homes (hereinafter the Improvements) at the properties described herein below in Paris, Texas (the Properties); and WHEREAS, city staff has reviewed the application and the location of the above described residential Improvements and has determined that the Properties are located within the boundaries of Reinvestment Zone 2025-1 and are within the defined geographic area of the Program Area, and the application meets the requirements for Improvements set forth in the Guidelines and Criteria for the 5 In 5 Housing Infill Development Program as set forth in City Resolution No. 2025-025. NOW, THEREFORE, in consideration of the terms and conditions referenced herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the City, and Owner, (collectively referred to as Parties) hereby mutually agree as follows: I. Recitals 1.1 The Recitals set forth hereinabove are incorporated into this Agreement for all purposes. II. Component Parts 2.1 This Agreement comprises two component parts, including an economic development agreement pursuant to Texas Government Code Chapter 380 and a residential tax abatement agreement pursuant to Texas Tax Code Section 312. III. Terms Applicable to both the Economic Development Agreement and the Residential Tax Abatement Agreement: A. The Properties—Areas to be Improved 3.1 The Improvements defined in section III B below and made the subject of this Agreement shall be located on the Properties located in Paris, Lamar County, Texas more fully described in Exhibit 1 attached hereto and incorporated herein by reference, which Properties are within Reinvestment Zone No. 2025-1 and within the area set forth in the Program: LCAD# 17766, City of Paris Block 234, Lots 27-36 inclusive, 17th St. NW 3.2 The Properties listed are privately owned by Owner. B. Consideration --Improvements 3.3 The Improvements to be completed consist of ten (10) single family home structures (the Structure or Structures) on the above described Properties and as more fully described in the application for the Program attached hereto and incorporated herein as Exhibit 1. 3.4 The total estimated value of the Improvements to be constructed on the above -referenced parcels is at least TWO MILLION AND NO1100 DOLLARS ($2,000,000.00). 3.5 Owner shall obtain City approval for all necessary platting (if required) and plans, building permits, green tags and a Certificate of Completion from the City of Paris. 2 19' 1431MM490A 3.7 Owner agrees and covenants that it will diligently and faithfully construct each Improvement/Structure referenced herein in a good and workmanlike manner within 12 months of obtaining building permits from City for each structure. Owner further covenants and agrees that construction of the Improvements will be in accordance with all applicable state and local laws, codes, regulations, and Program Guidelines or Owner will procure a valid waiver or variance thereof. Owner shall complete all Improvements required herein on or before June 21, 2031. 3.8 Owner shall contact City Building Official for final inspection as Improvements are completed and obtain a Certificate of Completion for the ne residential dwellings as completed. I 3.9 Owner shall notify the Lamar County Appraisal District upon completion of Improvements and request an updated appraisal of the Improvements. 3.10 Owner shall provide City with appraised value of Improvements up receipt of same from Lamar County Appraisal District. I 3.11 Owner may not use the parcels described in Section 3.1 for any other purpose other than to construct the Improvements set forth in this Article. Use of any parcel for any other purpose shall constitute a separate act of default of the Agreeme I• will trigger the default provisions and remedies set forth hereunder. I IV. Terms Specific to the Economic Development Agreement— Texas Local Government Code Chapter 380 4.1 The term of this Economic Development Agreement shall commence on June 22, 2026 and shall continue for a period of five (5) years ending on June 21, 2031. B. Reduced Fees for Building Plan Review and Permitting 4.2 In consideration for Owner's construction and completion of the above - referenced Improvements, City agrees to reduce rates for building plan review by one hundred percent (100%) and permit fees by one hundred percent (100%) for each Structure constructed pursuant to this Agreement. 1111o111111111111p�11IIII 4.3 In further consideration for Owner's construction and completion of thel above -referenced Improvements, City agrees to reduce rates for water and sewer ta[E labor fees by twenty-five percent (25%) where required by the City's Public Works Department. 4.4 As further consideration for the incentives granted herein, where #+# b! Owner shall purchase building materials and fixtures from vendors located within the City of Paris. I 4.5 It shall be an act of default of the Economic Development Agreement should Owner fail to construct and compete all of the Improvements specified hereir within the five (5) year period set forth herein (by June 21, 2031). V. Terms Specific to the Residential Tax Abatement Agreement Texas Tax Code Chapter 312 5.1 The term of this Tax Abatement Agreement shall commence on June 22, 2026. It is the intention of this Tax Abatement Agreement that Owner receive an abatement of taxes on each Structure constructed as it is completed and issued a Certificate of Completion by City. Consequently, each Structure constructed and completed shall have its own five (5) year abatement period. The abatement period for each constructed and completed dwelling unit shall commence on January 1 of the year following City's issuance of a Certificate of Completion on said dwelling unit and end on the fifth (5th) anniversary of the commencement of the abatement period. This Tax Abatement Agreement shall terminate upon the expiration of the final abatement period granted herein unless otherwise terminated by default or agreement of the Parties. 5.2 Subject to the terms and conditions of this Economic Development Agreement and Tax Abatement Agreement, in further consideration for the construction and completion of the Improvements required herein and subject to the rights and holders of any outstanding bonds of the City, a portion of the maintenance and operations (M & 0) ad valorem property taxes assessed upon each Improvement and otherwise owed to the City shall be abated for a period of five (5) years in an amount equal to 100% per year of the taxes assessed upon the increased value of the Improvements made by Owner to the Properties described in Section 3.1 of this Agreement, over the value in the year by which this agreement is executed (the "Base Value"), in accordance with the terms of this Agreement and all applicable state and local regulations or valid waivers thereof; provided that the Owner shall have the right t* protest or contest any assessment of the Properties and said abatement shall be applied to the amount of taxes finally determined to be due as a result of any such 4 protest or contest. For the purposes of this Agreement, the Base Value of the existing real property shall be deemed to be the value as shown on the tax rolls of the Lamar County Appraisal District as of January 1, 2026, which is $14,250.00. 5.4 This abatement is granted in accordance with the City's Guidelines and Criteria for the Program, a copy of which is attached hereto as Exhibit 2, provided, however, that in the event of any conflict between this Agreement Exhibit 2, this Agreement shall control. 5.5 Upon receipt of the documentation set forth in Article III and in Section 6.6 herein as to each constructed and completed Structure, City will notify the Lamar County Appraisal District to begin the tax abatement as to said Structure. C. Default 5.6 If (a) the Improvements (all ten residential Structures) for which an abatement has been granted are not completed in accordance with this Agreement (by June 8, 2030); or (b) Owner allows its taxes owed the City to become delinquent and fails to timely and properly follow the legal procedures for protest or contest of any such; or (c) Owner materially breaches any of the other terms, provisions or conditions of this Economic Development Agreement and Tax Abatement Agreement, including but not limited to the Mandatory Anti -Discrimination Provisions set forth herein, then owner shall be considered in default of this Agreement. In the event Owner defaults in its performance of either (a), (b), or (c) above, then City shall give Owner written notice of such default and if Owner has not cured such default within sixty (60) days of said written notice, this Tax Abatement Agreement may be terminated by the City. Notice of default shall be given in accordance with Article VI of this Agreement. 5.7 As damages in the event of default, and in accordance with the requirements and discretionary provisions of Section 312.205 of the Tax Code of the State of Texas, all taxes which otherwise would have been paid to the City without the benefit of abatement, including taxes on those dwelling units constructed and completed according to the terms of this Agreement, together with interest to be charged at the statutory rate for delinquent taxes as determined by Section 33.01 of the Property Tax Code of the State of Texas, with all penalties and attorney's fees permitted by the Property Redevelopment and Tax Abatement Act and the Tax Code of the State of Texas, shall be recaptured and will become a debt to the City and shall be due, owing, and paid to the City within sixty (60) days of the expiration of the above-mentioned applicable cure period as the sole remedy of the City, subject to any and all lawful offsets, settlements, deductions, or credits to which Owner may be entitled. VI. Additional Terms applicable to both the Economic Development Agreement and the Tax Abatement Agreement A. No Conflict of Interest. 6.1 The Owner represents and warrants that neither the Properties nor the Improvements include any real or personal property that is owned or leased by a member of the Paris City Council or the Planning and Zoning Commission or any member thereof having responsibility for approval of this Agreement. B. Conditions. 6.2 The terms and conditions of this Agreement are binding upon the parties hereto and their successors and assigns. 6.3 It is understood and agreed between the parties that the Owner, in performing its obligations hereunder, is acting independently, and the City assumes no responsibility or liability in connection therewith to third parties; and Owner agrees to release, indemnify and hold the City its elected officials, officers, employees and attorneys harmless from any claims, lawsuits, damages, costs or attorney's fees related to this Agreement. It is further understood and agreed among the parties that the City, in performing its obligations hereunder, is acting independently, and the Owner assumes no responsibility or liability in connection therewith to third parties. C. Compliance Provisions 6.4 The Owner agrees that the City, its agents and employees, shall have reasonable right of access to any and all records concerning Owner's investment in the Improvements for the purpose of conducting an audit of the Improvements. Any such audit shall be made only after giving the Owner notice at least fourteen (14) days in advance and will be conducted in such a manner as to not unreasonably interfere with Owner's property. Upon request, the Owner will provide the City with a detailed list of all Improvements, including a list of materials used and cost thereof. 6.5 The Owner further agrees that the City, its agents and employees, shall have reasonable right of access to the Property to inspect the Improvements in order to insure that the construction of the Improvements are in accordance with this Agreement and all applicable state and local laws and regulations or valid waiver thereof. After completion of the Improvements, the City shall have the right to enter the Property and conduct an inspection of the completed Improvements. D. Initial and Annual Reporting. 6.6 The Owner further agrees that it will, within thirty (30) days of completion of each dwelling unit as it issued a Certificate of Completion by the City, provide the CITY with a sworn report, written on Owner's letterhead and signed by a designated 6 representative of Owner, which contains the following information: (a) A copy of the printout from the Lamar County Appraisal District showing the market value of the Property prior to the construction of the Improvements; (b) Detailed description of the Improvements; (c) A copy of or identification of plans and specifications of constructed improvements and the location of the same for inspection by City's Building Official; (d) The actual cost of the specific capital Improvements, and, (e) The date of substantial completion of the specific Improvements as defined in paragraph 2.1 hereof; and (f) Receipts showing that the purchase of building materials and fixtures for the construction were made from vendors within the City of Paris, when possible. 6.7 Owner further agrees that it will provide City with an annual, sworn report which shall certify, in writing, that it is in compliance with each applicable term of this Agreement. Such annual report shall be furnished on the forms provided by the City. E. Authority to Contract. 6.8. This Agreement was authorized by resolution of the City Council at its regularly scheduled meeting on the 22nd day of June, 2026 authorizing the Mayor to execute the Agreement on behalf of the City. 6.9 This Agreement was entered into by Owner pursuant to the authority granted to the authorized official whose signature appears below. 6.10. This Agreement shall constitute a valid and binding Agreement between the City and Owner when executed in accordance herewith, regardless of whether any other taxing unit executes a similar agreement for tax abatement. F. Legal. 6.11 No officer, official or agent of the City has the power to amend, modify or alter this Agreement or waive any of its conditions or to bind the City by making any promise or representation not contained herein. 6.12 This Agreement, except by operation of law, shall not be assigned or transferred by Owner, without the prior written consent of City, which consent shall be at the sole discretion of the City. 7 I r—A V4 9 a A IRMO S A II I M-14 0161111 lips 11-7ml, 611,611, all OT Tne restecu'l'u par -Lies NWIC are designated as follows: OWNER: R4U Ventures LLC 210 W. Main St. Ste. 130 Gun Barrel City, Texas 7515,11, CITY: CITY OF PARIS, TEXAS Attn: City Manager P. 0. Box 9037 Paris, TX 75461-9037 111,th a co2y to: City Clerk, City of Paris, Texas (Address same as above) 6.14 If any term or provision of this Agreement shall be declared unconstitutional or void by any court of competent jurisdiction, the constitutionality and validity of the remainder of said Agreement shall not be affected thereby, and to this end the terms and provisions of this Agreement are declared to be severable. 6.15 This Agreement sets forth the entire understanding between the parties, and any other understandings or agreements shall be canceled and superseded by this Agreement upon the date of execution hereof. None of the terms of this Agreement shall be waived, discharged, altered or modified in any respect, except by an Agreement in writing signed by both parties and specifically referring to this Agreement. The captions in this Agreement are included for convenience only and shall not be taken into consideration in any construction or interpretation of this Agreement or any of its provisions. This Agreement is performable in Lamar County, Texas, and shall be governed by, construed and enforced in accordance with the laws of the State of Texas. The provisions of this Agreement shall apply to, bind and inure to the benefit of the City, Owner, and their respective successors, and permitted assigns, if any. 6.16 Venue for any actions arising under this Agreement shall lie exclusively in the courts of Lamar County, Texas, for any State Court action, and in the U.S. District Court for the Eastern District of Texas for any federal court action. 6.17 MANDATORY ANTI -BOYCOTT AND OTHER PROVISIONS. Owner, by ,-xecuting this agreement, certifies the following: �V' Pursuant to Section 2271.002 of the Texas Government Code, Owner certifies that either (i) it meets an exemption criterion under Section 2271.002; or (ii) it does not boycott Israel and will not boycott Israel during the term of the Agreement. Owner acknowledges this w4 is inaccurate. Pursuant to SB 13, 87th Texas Legislature, Owner ceres that either (i) it meets an exemption criterion under SB 13, 87th Texas Legislature; or (ii) it does not boycott energy companies, as defined in Section 1 of SB 13, 87th Texas Legislature, and will not boycott energy companies during the term of the Agreement. Owner acknowledges this Agreement may be terminated and payment withheld if this certifiai?tio-t is i-u-?cctjrq.te. iii. Pursuant to SB 19, 87th Texas Legislature, Owner certifies that either (i) it meets an exemption criterion under SB 19, 87th Texas Legislature; or (ii) it does not discriminate against a firearm entity or firearm trade association, as defined in Section 1 of SB 19, 87th Texas Legislature, and will not discriminate against a firearm entity or firearm trade association during the term of the Agreement. Owner acknowledges this Agreement may be terminated and payment withheld if this certification is inaccurate. iv. Pursuant to Subchapter F, Chapter 2252, Texas Government Code, Owner certifies Owner (1) is not engaged in business with Iran, Sudan, or a foreign terrorist organization. Owner acknowledges this Agreement may be terminated and payment withheld if this certification is inaccurate. "RO By: Mihir Pa11 nkaj ,"ayor ATTEST: Janice Ellis, City Clerk Depm+j Ui-j C&V- I ""'IIRO ED AS TO FORM.- epi ante H."Harm, Harris, City Attorn%f R4U VENTURES LLC I AT°...P „R,U"%IANTTY Nage: MichW3 Whi �te Title. STATE OF TEXAS COUNTY BEFORE AAE, the undersigned authority, on this day personally appeared Michael White, of R4U Ventures LLC, known to me to be the person vvhose name is subscribed to the foregoing instrument, and acknowledged to rni i that he executed the same for the purposes and consideration therein expressed, and it the capacity therein stated. Given under m hand and sea[ of office this day of June, 2026. y l �.... E0Cody Dot) Levesey VBrnot My Commission Euplr' I Notary 9/16,12(029 a�3 s32a�e .m_ -- Notary Public, State of Texas I Exhibit 1 I1 CI I"'Y OF PAIIIIIA , TEXAS APPLICATION FOR RESDI� .14"I'lAL I'M IIIA IIIATEME15, I'l-i- 5, AIppflcant N R4L.J VetltUres LI G (Kchadl White) arnie.� - DBA: Mabig Addiress --2.j.1-0. W Main St-Suite,130 Gun Barrel city, "rx 75156 . . .... ........... ........ � -.c , � . ..... . . - -- .................. . ................. . ......... . . .......................... Telephone #: 214 418..8!..-)98 Email: Miciael@r4uvei�ituu�-es.U.)irri ............... . ....................................... Owner: Name: U Ventures LLC (Micha&I White) [713A: MAIHop Address . 210 W Mahn St Suite 130 Guin BarrO Qty, FX 75156 , . ........................ Telephone M_ ................ X 14-4 1- .5.9 a. . .......... Email; Mi ch.ael@r4uventu res. -corn .. . ..... . ..... Property Partial( Ilrroposed for Agoernerst, No. Ii.1;Ab 9 Adress Lot glock Aciftioll 17766 TBD NW 17th 32 234 City of Paris . ......... 17766 ....... . .. . .......... .... . ...... I..� .. .................. . .. TBD NW 17th 33 234 City of Paris 3, 17766 TBD NW 17th 34 234 City of Paris 4, 17766 I 1 -.1- TBD NW 17th . ............ - - - ---------- 35 234 City of Paris . . ... . .......... ................ . .. .................................... .......... ........ . ........ ............. 17766 . ....... ..... TBD NW 17th 36 234 City of Paris Add additionai shee-V,, d netessAry. P-0 to al De5tdpflow IInclude as an attaichment a fuH ItAgM descirIption withi irheta.s zvnd btwrids og a 4.,,opy of the deed, if avaflaWe. MMMM= 'ryi;)e finproveiments for new ConstrUCHNI (check one): X,1.7F 2F MF ToW Number of DwAng Utdtt: � ......... . a.. 5 ...- ... . ........ EsOnated VMuze of ftriprovemients by type�a $1,000,090--,", Estftyiatod Start. 0.at(,m Of Construtflow ASAP Estimated l:')ate of CornptiNi of Flroject(s) 6-7 Months 1-1 1 -1 � . ......................... . . ... ........ .......... . ..... bvicMpVon of ProPt.c.t (attach 5fto, pan, floor parl, SFR-1200sq ft 3/2 with attached carport ApII.Alitasift"4 Sighatum bate: , 5/6/2025 owneii�g Signaturm , ..... . ...... -" '' _ . ....... ........ .......... . .... ............................. I ZMEM Date 6/6/2025 GENERAL WARRANTY DEED 26-20818 (01811) NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIK(( ANY OR ALL OFTHE FOLLOI VING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILL, I) FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL, SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. Effective Date: iViarch lj �-; 2026 Grantor: Siegfried Feth, a single man Grantee: R4U Rentals -A2, LLC, a Texas Series Limited Liability Company, Series E Consideration: TEN AND NO/100 DOLLARS ($10.00) and other good and valuable consideration. Property: SEI; TSIF ATTACHED EXHIBIT "A" INCORPORATED HE' RY IN FOR ALL NECESSARY PURPOSES Reservations From and Exceptions to Conveyance and Warranty: This conveyance, however, is made and accepted subject to all outstanding mineral interest, restrictions, reservations, easements, covenants and conditions, relating to the herein above described property as now reflected by the records of the County Clerk of Lamar County, Texas, 232236-2026 WD 04/01/2026 09:55 AM Total Pages: 5 Ruth Sisson, County Clerk - Lamar County, TX BY:STONE TITLE COMPANY, INC NotaryCam Doc ID: 4732f78c-7127-4487-ab3e-fd50a6092e1b TN 14218 Page 2 of 5 232236-2026 Page 2 of 5 Grantor, for the consideration, receipt of which is acknowledged, and subject to the reservations from and exceptions to conveyance and warranty, grants, sells and conveys to Grantee the property, together with all and singular the rights and appurtenances thereto in any wise belonging, to have and hold it to Grantee, Grantee's heirs, executor, administrators, successors or assigns forever. Grantor binds Grantor and Grantor's heirs, executors, administrators and successors to warrant and forever defend all and singular the property to Grantee and Grantee's heirs, executors, administrators, successors and assigns against every person whomsoever lawfully claiming or to claim the same or any part thereof, except as to the reservations from and exceptions to conveyance and warranty. Payment of ad valorem taxes for the current year having been assumed by grantee. When the context requires, singular nouns and pronouns include the plural. .574/72d ;�� Siegfried Feth NotaryCam Doc ID: 4732f78c-7127-4487-2b3e-fd50a6092e1b TN 14218 Page 3 of 5 232236-2026 Page 3 of 5 . . .. . ............................... . ACKNOWLEDGMENT State of Virginia Cityof Hopewell This notarial act was an online notarization. This instrunient was acknowledged before me on the 31 day of -,—,,,,-March_ , 2026, by Siegfried Feth. VICTORIA MILLER GAPAS Electronic Notary Public Commonwealth of Virginia Registration No. 7836123 My Commission Expires Feb 28, 2027 Notary Public, State of r& Ln, 'Im -YL - Completed via Remote Online Notarization using 2 way Audio/Video technology. After Recording Return To: ..... . . ...... NotaryCam Doc ID: 4732f78c-7127-4487-ab3e-fd5Oa6O92elb TN 14218 Page 4 of 5 ARKFNS RA'T', SURVEy 4 N 00'53'41" E -c 5€1.01' CITY BLOCK 234 (M—A PLAT RECORbS 1 IZYA MATS LOTS 37 & A CITY f3.m 234 RP Y (7,(E 042, PACS 207 I wA»�E lEdrLER)V AHD WrE. SfR EAST x£39.30 SIR 1A]ilve.. GFB, PAGF. STLtifs+ KtLF. OtCK4Cft NID kFE, SIR SISEItflY L O;CXSIXi Ofi M-UUE 1577, PAC` 331 0 NY LEX tACXMSUi ARO 9LFE. YMMA A, WCX6RS CAJPD21,660 SOJN[ mcr T'AFls PABIrAT FoR HUIIAWTY Of O. OR IV,UWE 5J[ PAGE 62 LOTS 27-15, aTY DLOi7( 23[ VXUUF ?fid, PAO£ 264 z 0 O DnuRat 0014 Y Atm 1017, LIMA� tn .� CA? Y'DIMVE t7f Fr� CE 43 Ld .._... 2.180 ACRES _-.Q TYDOY ATA7.,CUN SntoTHE wcxly LOT 22. CITY BLOCK 25+ Q SII b (/j w RP '-WJUE los, PACE 307 TMDY MANKZ24 'Q0jHEjWcvi RP O .. LOT 23, CITY BLOCK 234 DR �..,• ,. W VOXOtJE 701, PAM 208 �Q r 0PQ9 ..._. — .._.. 0 fn _ - JANES COi*CE LOT 2+. CITY MOCK 234 RP 4Mwc tQS), PAGE a FRANC1=1 GOWEZ AND HAMA MiEZ LOT 25 CITY E3LOCK 231 OR WiLl11fE 1138, PAOE 42 kc"wl 6t GCITt NCD KtL ._ FA,tiD,G J. cal,z ...,, LOT 2D. CITY MO--. 25+ OB CIT VOtUN'E 172ts PACC Sar F1R 5!R 4`IEST I 190.QO' F1R I �_, EAgT 1189.88' rGsrgT sTC lE (REFERENCiE4 BEARING) LOTS 1,2, & 3, 0LOCX 2 ! f r NAXEY A><Ui non 1 UA VlkLLNE 633. PAGE 603 1 t I I ! ( I i, lCcVIN K. MiITLEY, REGISTERED PROFESSIONAL. LAND SURVEYOR FOR TITk SFATE OF TEXAS, RPLS {,15892, DO HEREBY CERTIFY THAT THE PLAT SHOWN HEREIN REPRESENTS AN ACTUAL ON—TNF—(MOUND SURVEY CONOUCTF,D BY M! , C 7Ai /IE�/ D ON FEBRUARY 16, 2447. FED - �_..w REtiSTitR�D PROFC:a,afON LAiJO 5UftVEY(iR � ®� �a4�id� 2,.f 80 ACRES LAMA" COUNTY, TEXAS FEBRUARY 2007 MAY IM EIvGll FEET jJvG IPdGC]Fli°iIRRYT�t3 roNSULYaPrr� F'LANNi�}tl q. yQ7NgFJ'ts 4dA5 S-� JLdDP rp6 PdR13, YEAS NotaryCam Doc ID: 4732f78c-7127-4487-ab3e-fd50a6092e1b l�f SCALE: 1 "=t ml GM SET' IRON ROD FOUND IRON ROD REAL PROPERTY RECORDS DEED RECO,4bS OFFICIAL PUBLIC RECORDS] POINT OF BEGINNING i TN14218 Page 5 of 5 __. _._-. _ __..�_-.�_._. _ -._-• .---..-............. _.__.2322-a&2026--P__age 5__of_5 FIELD NO'T'ES Habitat for Hurnartiiy Inc, 2.180 Acres Lamar County, Tcxas February 21007 Being 2.180 acres of land, situated witxrin the corporate lirnits of tate City oi'Paris, County of L.arnar, State of Texas, being a part of 1110 Lai -kin Rattftn Survey A-778, also knoum as bots 27 28, 29. 30, 31, 32, 33, 34, 35, and 36, City Block 234, as conveyed from Prances Travis and Susan Gibson to Paris Habitat for Humanity, Inc. on December 27, 2001, and recorded in Volume 1153, Page 284 of the Real Property Records of said county, The said 2.180 acre tract fully described by metes and bounds as follows: Beginning at a % inch iron rod fotatd for the, SOtItI1WOst confer of a tract of land conveyed as Lot 26, City Block 234 from Atphonso Jackson, Secmtaty of Housing and Urban Development to Kevin B. Gillie and wife, Tarrimi J. Gillie on March 10, 2005; and recorded is Volume 1728, Page 307 of the Official Public Records ofsafd cowity, said rad being located West (Reference Bearing), at a disttjrtce. of 189-.88 feet from a % inch iron rod round for tite Southeast comer of I..ot 26, said rod also being in the North boundary line of a tnaU of land known as Lots 1, 2, and 3, Block 2, of the Maxey Addition as conveyed from Leon Williams to Poster Stone or; April 1, 1981, and recorded in Volume 633, Page 603 of the Deed Records of said county; Thence West, along Lho Nortlt boundary tine of tJre afoTementionud Stone txaet, a distance 6f 190A0 feet to a %, inch cappid iron Md se[,at the Souttnvest comer Lot. 27, City Block 234; said rod also being located in i.Ire East line of 17n4 Street Northwest; Thence N 00°I8'04" W, along the,Ettst line of 17'h Street Northwest a distance of 450.00 feet to a'%s inch capped iron rod set for Elie Southeast corner of Lot 36, City Block 2.34, as shown_ on rite plat -of said block recorded;in i".nvelope 28-A, in flat Records Lamar County Texas; - Thence N 00°5314 t" E, a distance of 50,01 feet to'a V inch capped iron rod set at the Northwest corner of the aforementioned Lot 36, said rocs also Mng located at the ,southwest corner of a tract of laird conveyed from Ethal ?vl- 'White to Elva Putt o;t Jantrary 11, 2000, and rr;corded in Volume 942, Page 207 of the Real .'roperty Records of said county, Thence East, along the North line of Lot 36, a distance; of 189,00 feet to a'/, inch capped iron rod set at the Northeast corner of Lot 36, said rod also being located ire the WW boundary line of a tract of land conveyed from George W. Pratt and wife, Mildred L, Pratt to 'Jayne 'Templeton and wife, Emilie Templeton on March ? 1, 1968, and recorded in Volume 469, Page 467 of the Deed Records of said county; Thence S 0015'04" E, at a distance of 193.41 fejet passing a 318 inch iron rod found for the Northwest corner of a €tact of land conveyed ft-orit Brandon Cheney and wife, Dured Cheney to Darror, Chancy and wife, Linda Cherley on June 30, 2006, and recorded in Volume 1780, Wage 93 of the Official Public Records of said county, and eontintring on for a total distance of 500,00 feet to the point of beginning and containing 2,180 acres of land. 1, KEVIN K. WHITLEY, REGISTERED PROFESSIONAL LAND SURVEYOR, 45892, STATE OF TEXAS, HEREBY CERTIFY THE ABOV1 < IS TAKEN FROM MEASUREMENTS MADE UPON TEE GROUND. FEB 16 2007 NotaryCam Doc ID: 4732f78c-7127-4487-ab3e-fd50a6092e1 b Cl I'Y OF PARIS P EXAS APPLICA UON FOR RESIII DEN1 IAL. TAX ABArEMENT (Sin S ME= Narne�--,IR41U Ventures i Michael White) DBA: ... . .. .... . ............. . ... Mfling Address: 210 W Main St Suite 130 Gun ii City, TX 75156 a. . . . . .............. .. . . ... Telephone #. �-2-14-418-8598 Email! hAichael@r4uventures.com Owner. Nall � ,1 44.1 Ventures LLC (Michael White) DBA: . . ....... ..... Maflirip Address^ 210 W Main St Suite 130 Gun Barrel City, TX 75156 . ............... — - -..— . ..... ..... . ..... tPlephOrIF-1 M 214-418...6,598. ......... Email: MichaeV@r4uventures.com . .. . .. .... . . .......... 1�,ropairtV Pairtel(ri) Piroposed fe)r Agreement: lima. LCM) 9 Adreis Lot Block Addition 1. 17766 TBD NW 17th 27 234 City of Paris 2. 17766 TBD NW 17th 28 234 City of Paris 3. 17766 TBD NW 17th 29 234 City of Paris 4. 11766 .... .... ......... TBD NW 17th .. . ............. 30 . . ........... 234 City of Pads 5- 17766 TBD NW 17th 31 234 City of Paris Add additlionW sheet!�, if nece!�tairy. FuH Legal Des vilp0ain: kicliucle as an attachrineirift a fi.W legofl descdpVon moth vnatib%and bounds or a colpy of the deed, if avaHable. Irnprovements, Type ienprovementt for noW (bnstructilon (check one)-1)(Sil 7F NN' 'Rmfl lINknewboe i!)f (.5wolihing UMW 5 Estimated Vakie of lrnpiroverrwnts by type: $1,000,000 Esti SlArt Dote of Coiastrucflow ASAP EWMzaed Date of Cornpletion of'Piroiectis) 6-7 Months ............ . .. . . . .... ... . ..... . .... bc,.Acription of Project (attmh sftt pkm, floor eft.): SFR 120-0sq ft 3/2 with attached carport ApIsficant"s, Signature: Date: 5/6/2026 Owneir'%.Sigrtaturo:... . .... — -- - — ----- Cate: Page 7 of 7 UJ o �» L8£117L9008-ir 3md uzOO-sueldZdHcnusaleS :IPPR • `uo u� asno Z-OOZ I -SS €� w a \ ' a_ z to x :al uvid o m R SLL tr0 4 V� `^ KUwp d,ww ooi- oOd Qzi ? dW p W O Q O W N m x d K 0 2 W N Z Z Z O f W iU Z Q O RW' z a m W ~ X Z LL LL W� �K UW2W JlS1U�_W_= JaWZ~~ZOm WZOZd JNpO 0 'R LLN W N K w W O U LL p O d W �. 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