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of any conflict between this Agreement and the Guidelines and Criteria for the Program attached <br />hereto as Exhibit 3, this Agreement shall control. <br />4.4 Upon receipt of the documentation set forth in Article II and in Section 5.6 herein <br />as to each constructed and completed duplex, City will notify the Lamar County Appraisal <br />District to begin the tax abatement as to said unit. <br />C. Default <br />4.5 If (a) the Improvements (all seven units) for which an abatement has been granted <br />are not completed in accordance with this Agreement (within five (5) years of the effective date <br />hereof); or (b) Owner allows its taxes owed the City to become delinquent and fails to timely and <br />properly follow the legal procedures for protest or contest of any such; or (c) Owner materially <br />breaches any of the other terms, provisions or conditions of this Economic Development <br />Agreement and Tax Abatement Agreement, then owner shall be considered in default of this <br />Agreement. In the event Owner defaults in its performance of either (a), (b), or (c) above, then <br />City shall give Owner written notice of such default and if Owner has not cured such default <br />within sixty (60) days of said written notice, this Tax Abatement Agreement may be terminated <br />by the City. Notice of default shall be given in accordance with Article V of this Agreement. <br />4.6 As damages in the event of default, and in accordance with the requirements of <br />Section 312.205(a)(4) of the Tax Code of the State of Texas, all taxes which otherwise would <br />have been paid to the City without the benefit of abatement, including taxes on those dwelling <br />units constructed and completed according to the terms of this Agreement, together with interest <br />to be charged at the statutory rate for delinquent taxes as determined by Section 33.01 of the <br />Property Tax Code of the State of Texas, with all penalties permitted by the Property <br />Redevelopment and Tax Abatement Act and the Tax Code of the State of Texas, shall be <br />recaptured and will become a debt to the City and shall be due, owing, and paid to the City <br />within sixty (60) days of the expiration of the above-mentioned applicable cure period as the sole <br />remedy of the City, subject to any and all lawful offsets, settlements, deductions, or credits to <br />which Owner may be entitled. <br />V. <br />Additional Terms applicable to both the Economic Development Agreement and <br />the Tax Abatement Agreement <br />A. No Conflict of Interest. <br />5.1 The Owner represents and warrants that neither the Properties nor the Improvements <br />include any real or personal property that is owned or leased by a member of the Paris City <br />Council or the Planning and Zoning Commission or any member thereof having responsibility <br />for approval of this Agreement. <br />B. Conditions. <br />5.2 The terms and conditions of this Agreement are binding upon the parties hereto <br />and their successors and assigns. <br />