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<br />IF TO CITY: <br /> <br />IF TO OWNER: <br /> <br />City Manager <br />City of Paris <br />p, 0, Box 9037 <br />Paris, TX 75461-9037 <br /> <br />Merico, Inc, <br />2020 19th Street N.W. <br />Paris, TX 75460 <br />ATTN: Plant Manager <br /> <br />Appraisal <br /> <br />P. It is understood and agreed among the parties that the <br />PROPERTY, also knows as Tax Reinvestment Zone Number Three, <br />shall be appraised at market value for the purposes of <br />property tax assessment effective January 1, 1992, and <br />continued at market value until the expiration of this <br />AGREEMENT, <br /> <br />Conflict of Interest <br /> <br />~8. The CITY represents and warrants that the PROPERTY does <br />not include any property that is owned by a member of the <br />City Council approving, or having responsibility for the <br />approval of, this AGREEMENT. <br /> <br />Assignment <br /> <br />~9. The terms and cond it ions of the AGREEMENT are bind ing <br />upon the successors and assigns of all parties hereto. <br />However, this AGREEMENT cannot be ass igned by OWNER other <br />than to either the Parent Corporation or a wholly-owned <br />subsidiary of OWNER unless written permission is first <br />granted by the CITY, which permission shall be at the sole <br />discretion of the CITY. <br /> <br />Indemnification <br /> <br />~10. It is understood and agreed between the parties that the <br />OWNER, in performing its obligations hereunder, is acting <br />independently and the CITY assumes no responsibility or <br />obligations hereunder, and the CITY assumes no responsibility <br />or liability in connection therewith to third parties and <br />OWNER 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 />hereunder, is acting independently, and the OWNER assumes no <br />responsibility or liability in connection therewith to third <br />parties and the CITY agrees to indemnify and hold harmless <br />the OWNER therefrom. <br /> <br />Inspection <br /> <br />HI. The OWNER further agrees that the CITY, <br />employees, shall have reasonable right of <br /> <br />its agents and <br />access to the <br /> <br />MERICa, INC. TAX ABATEMENT AGREEMENT - Page 4 <br />