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55 The Owner further agrees that the City, its agents and employees, shall have <br />reasonable right of access to the Property to inspect the Improvements in order to insure that <br />the construction of the Improvements are in accordance with this Agreement and all applicable <br />state and local laws and regulations or valid waiver thereof After completion of the <br />Improvements, the City shall have the right to enter the Property and conduct an inspection of <br />the completed Improvements. <br />D. Initial and Annual Reporting. <br />5.6 The Owner further agrees that it N,,U, within thirty (30) days of completion of <br />the Improvements and issuance of a Certificate of Completion by the City, provide the CITY <br />with a sworn report, written on Owner's letterhead and signed by a designated representative <br />of Owner, which contains the following information: <br />(a) A copy of the printout from the Lamar County Appraisal District showing <br />the market value of the Property prior to the construction of the Improvements; <br />(b) Detailed description of the Improvements; <br />(c) A copy of or identcation of plans and specifications of constructv; <br />improvements and the location of the same for inspection by City's Buildin2, <br />Offici-fl: <br />(e) The date of substantial completion of the specific Improvements as defin <br />in paragraph 2.1 hereof; and <br />(f) Receipts showing that the purchase of building materials and fixtures fix] <br />for the construction were made from vendors within the City of Paris, wh <br />possible. <br />5.7 Owner further agrees that it will provide City with an annual, swom report <br />which shall certify, in writing, that it is in compliance with each applicable term of this <br />Agreement. Such annual report shall be furnished on the forms provided by the City and shall <br />be due on each yearly anniversary of the Initial Report required by Section 5.6. <br />5.8 Owner recognizes that these reporting requirements are material conditions of <br />this Agreement, and a failure to submit such reports when due will constitute a breach hereof. <br />E. Authority to Contract. <br />5.9. This Agreement was authorized by resolution of the City Council at its regularly <br />scheduled meeting on the 91h day of May 2022, which further authorized the City Manager to <br />execute the Agreement on 4ehalf of the City6 <br />