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taxes assessed upon the IMPROVEMENTS and otherwise owed to the CITY shall be abated. <br />abatementSaid be an amount equal to one hundred # <br />completedupon the r - of the IMPROVEMENTS on January I st of the year in which this tax <br />continuingabatement commences (January 1, 2010), with this tax abatement at such percentage <br />duringfor each year the ten (10) year term of this AGREEMENT.1 <br />in accordance with aapplicable str i1 local law and f- or r 1 <br />waiver thereof, <br />provided that the OWNER shall have the right to protest or contest any assessment of the <br />PROPERTY, and said abatementai to the amount of taxes finally determined to 1 <br />due as a result of any such protest or contest.',' the purposes of this AGREEMENT, <br />value of the existing real and personal prEp" of at is not subject to tax <br />abatementf which does notA a. defined herein) shall be <br />deemedbe the valueas shownM of the LamarCountyAppraisal <br />January I of the year in which this AGREEMENT is executed, said amount being <br />$130,516,540.00 <br />t47 (Base <br />Year <br />./ Value), .. same <br />consisting$14,252,750.00 for Land and <br />Buildings, and $116,263,790.00 for tangible PersonalProperty, with $15,764,230.00 of the value <br />personalof the existing tangible 4p • ` • Blend Line being <br />abatementalready abated through December 31, 2016. The current abatement which is the subject of this <br />AGREEMENT shall extend for a period of ten (10) years beginning January 1, 2010. <br />7.2 The �� - be 4 governed by the POLICY. <br />STATEMENT CRITERIA ,�D GUIDELINES, <br />py of which is <br />attached hereto as Exhibit - of years of the tax .b.tement anfl the percentage <br />GUIDELINESof abatement previously granted to OWNER in this AGREEMENT in Section 7.1 above, which: <br />shall be controlling over the term of years and the percentage of abatement stated in the POLICY; <br />STATEMENT CRITERIA AND OR TAX ABATEMENT. <br />comply with the requirements of Exhibit performance of this AGREEMENT,d <br />except <br />AGREEMENT, <br />l�_CjITJJrr <br />.1 The OWNER represents and warrants that neither the PROPERTY nor the <br />IMPROVEMENTS include any real or personal property that is owned or kased by a member of <br />e City Council of the City of Paris, Texas or by a member of the Planning and Zoning <br />Commission of the City of Paris that approved or had any responsibility for the approving this <br />AGREEMENT. <br />ix. <br />Conditions <br />9.1 The terms and conditions of the AGREEMENT are binding upon the successors <br />d assigns of all parties hereto. <br />9.2 It is understood and agreed between the parties' in performing <br />its obligations hereunder,acting independently,responsibility <br />