2017-037 - Approving a Tax Abatement Agreement between the City of Paris and Campbell Soup Supply Company, LLC relating a new Plum Organics Line

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Property Tax Abatement Schedule attached hereto as Exhibit B and incorporated herein by reference. Said abatement shall be an amount equal to one hundred percent (100%) of the taxes assessed upon the increased value of the IMPROVEMENTS made by OWNER to the Property described in Section III of this AGREEMENT, over the value in the year which this AGREEMENT is executed, 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 PROPERTY, and said abatement shall be applied to the amount of taxes finally determined to be due as a result of any such protest or contest. For the purposes of this AGREEMENT, the initial value of the existing real and personal property (not subject to abatement) shall be deemed to be the value as shown on the tax rolls of the Lamar County Appraisal District as of January 1, 2017. The current abatement which is the subject of this AGREEMENT shall extend for a period of ten (10) years beginning January 1, 2019 as set forth hereinabove in Paragraph 1.1 and as further set forth hereinabove in Paragraph 3.1. 6.2 The abatement granted herein shall be subject to and governed by the POLICY STATEMENT CRITERIA AND GUIDELINES for TAX ABATEMENT, a copy of which is attached hereto as Exhibit F. OWNER shall comply with the requirements of Exhibit F in the performance of this AGREEMENT, save and except that, in the event of a conflict between the requirements of Exhibit F and this AGREEMENT, this AGREEMENT shall control. VII. No Conflict of Interest 7.1 The OWNER represents and warrants that neither the PROPERTY nor the IMPROVEMENTS include any real or personal property that is owned or leased by a member of the Planning and Zoning Commission of the City of Paris, nor by a member of the City Council approving, or having responsibility for the approval of, this AGREEMENT. VIII. Conditions 8.1 The terms and conditions of this AGREEMENT are binding upon the parties hereto and their successors and assigns. 8.2 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 INDEMNIFY AND HOLD HARMLESS THE CITY THEREFROM. 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 AND, TO THE EXTENT PERMISSIBLE BY LAW, THE CITY AGREES TO INDEMNIFY AND HOLD HARMLESS THE OWNER THEREFROM. 5