Laserfiche WebLink
as is estimated in the Property Tax Abatement Schedule attached hereto as Exhibit D. Said <br />abatement shall be an amount equal to one hundred percent (100%) of the taxes assessed upon <br />the completed value of the IMPROVEMENTS on January 1, of the year in which this tax <br />abatement commences (i.e. January 1, 2014), with this tax abatement continuing at the <br />percenta¢e rate shown in the attached Property Tax Abatement Schedule attached hereto for <br />each year during the seven (7) year term of this AGREEMENT. This tax abatement shall be <br />implemented and enforced in accordance with all applicable state and local regulations or valid <br />waiver thereof, provided that the OWNER shall have the right to protest or contest any <br />assessment of the PROPERTY, and said abatement shall be applied to the amount of taxes <br />finally determined to be due as a result of any such protest or contest. For the purposes of this <br />AGREEMENT, the initial value of the existing property of the OWNER that is not subject to <br />tax abatement AND WHICH DOES NOT INCLUDE THE IMPROVEMENTS (as defined <br />herein) shall be deemed to be the values as shown on the tax rolls of the Lamar County <br />Appraisal District as of January 1, 2013, for Land, Buildings and tangible Personal Property, <br />which values are not known as of the execution date of this Agreement, but shall include the <br />same tax accounts held by OWNER with Lamar County Appraisal District as of January 1, <br />2012. This current abatement, which is the subject of this AGREEMENT, shall extend for a <br />period of seven (7) years beginning January 1, 2014. <br />7.2 The abatement granted herein shall be subject to and governed by the POLICY <br />STATEMENT CRITERIA AND GUIDELINES for TAX ABATEMENT, a copy of which is <br />attached hereto as Exhibit E. OWNER shall comply with the requirements of Exhibit E in the <br />performance of this AGREEMENT, save and except that, in the event of a conflict between <br />the requirements of Exhibit E and this AGREEMENT, this AGREEMENT shall control. <br />VIII. <br />No Conflict of Interest <br />8.1 The OWNER represents and warrants that neither the PROPERTY nor the <br />IMPROVEMENTS include any real or personal property that is owned or leased by a member <br />of the Planning and Zoning Commission of the City of Paris, nor by a member of the City <br />Council approving, or having responsibility for the approval of, this AGREEMENT. <br />IX. <br />Conditions <br />9.1 The terms and conditions of this AGREEMENT are binding upon the parties <br />hereto and their successors and assigns. <br />9.2 It is understood and agreed between the parties that the OWNER, in performing <br />its obligations hereunder, is acting independently, and the CITY assumes no responsibility or <br />liability in connection therewith to third parties; and OWNER agrees to indemnify and hold <br />harmless the CITY therefrom. It is further understood and agreed among the parties that the <br />CITY, in performing its obligations hereunder, is acting independently, and the OWNER <br />assumes no responsibility or liability in connection therewith to third parties and, to the extent <br />permissible by law, the CITY agrees to indemnify and hold harmless the OWNER therefrom. <br />5 <br />