2018-025 Tax Abatement Agreement with SpiralWeld

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6.3 Owner covenants and agrees that subsequent to the date of this Agreement, any application by Owner for a new tax abatement for equipment or real property located within the Property and the Enterprise Zone applicable to this Agreement shall be subject to and governed by the City's Criteria and Guidelines for Tax Abatement in effect at the time of the new application. VII. No Conflict of Interest 7.1 The Owner represents and warrants that the Property does not include any 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 and enforceable against and with respect to the successors and assigns of all parties hereto. 8.2 It is understood and agreed between the parties that the Owner, in performing its obligations hereunder, is acting independently; the City assumes no responsibility or liability in connection therewith to third parties; and Owner agrees to indemnify and hold the City harmless therefrom. It is further understood and agreed among the parties that the City, in performing its obligations hereunder, is acting independently; 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. IX. Compliance Provisions 9.1 City's Right of Access to Records: The Owner agrees that the City, its agents and employees, shall have the reasonable right of access to records concerning the Owner's investment in the Improvements for the purpose of conducting an audit of the Project Improvements and Project costs. Any such audit shall be made only after giving the Owner at least fourteen (14) days advance written notice and will be conducted in such a manner as to not unreasonably interfere with the operation of the facility. Upon request, the Owner will provide the City with a detailed Asset Report with an itemized list of assets placed into service from the date of execution of this Agreement to the date of completion. The Asset Report will provide for each asset a unique serial and/or other identification number (if available), the date on which the asset was capitalized, the acquisition amount, and the accumulated depreciation amount. At the City's request, the Owner will provide actual invoices to support the amounts shown on the Asset Report. 5 32322920 vs