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<br />(b) All CITY personal property taxes that would <br />otherwise be payable with respect to all personal <br />property, save and except inventory and supplies, that <br />is brought onto the PROPERTY described by metes and <br />bounds and depicted on the plat attached hereto as <br />Exhibit "A" as a part of the improvement project herein <br />described, <br /> <br />for a primary period of five (5) years beginning January 1, <br />1994, with an option to extend said period for an additional <br />two (2) years beginning January 1, 1999, as hereinafter <br />provided. <br /> <br />VIII . <br />Extension Option <br /> <br />8.l. In the event CAMPBELL shall keep each and every <br />agreement contained herein and do and perform all the <br />obligations required of CAMPBELL hereunder during the term of <br />th is AGREEMENT, an opt ion is hereby given and granted to <br />CAMPBELL to renew and extend this AGREEMENT for an additional <br />period of two (2) years from and after the expiration of this <br />AGREEMENT, said two (2) years beginning on the 1st day of <br />January, 1999, and ending on the 31st day of December, 2000. <br /> <br />8.2. In order for CAMPBELL to exercise the option <br />granted in the above paragraph, notice shall be given in <br />writing no later than March 31, 1998. <br /> <br />IX. <br />No Conflict of Interest <br /> <br />9.l. The CITY represents and warrants that the PROPERTY <br />does not include any property that is owned by a member of <br />the City Council approving, or having responsibility for the <br />approval of, this AGREEMENT. <br /> <br />X. <br />Conditions <br /> <br />10.1. The terms and cond i tions of the AGREEMENT are <br />binding upon the successors and assigns of all parties <br />hereto. <br /> <br />10.2. It is understood and agreed between the parties <br />that CAMPBELL, in per forming its obligations hereunder, is <br />acting independently, and the CITY assumes no responsibility <br />or liability in connection therewith to third parties and <br />CAMPBELL agrees to indemnify and hold harmless the CITY <br />therefrom; it is further understood and agreed among the <br />parties that the CITY, in performing its obligations <br /> <br />TAX ABATEMENT AGREEMENT - Page 5 <br />