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Interlocal Agreement for establishing alternate manner of sale of land acquired by the City of <br />Paris, Texas pursuant to Section 34.051 of the Texas Tax Code by and between the City of Paris, <br />Texas, Lamar County, Texas, Paris Independent School District, and Paris Junior College <br />(approved by: the City of Paris, City Council agenda of January 24, 2022, item #22; Paris Junior <br />College, Regents' agenda of January 24, 2022, item #6; Lamar County, Commissioners Court <br />agenda of January 24, 2022, item #2; and the Paris Independent School District, Trustees' <br />agenda of January 24, 2022, item #4). <br />4.3 The conveyance of the property by the City to the Owner shall be tax sale deed <br />without warranty and with right of reversion. <br />4.4 City hereby transfers the property in an "as is" condition and does not warrant or <br />provide clear title with respect to the aforementioned City Trustee status of the Property. Owner <br />assumes full responsibility for title insurance for the property and all new residential <br />improvements thereto by Owner under the terms of this Agreement. <br />C. Reduced Fees for Building Plan Review and Permitting <br />4.5 In consideration for Owner's construction and completion of the above -referenced <br />Improvements, City agrees to reduce rates for building plan review by one hundred percent <br />(100%) and permit fees by one hundred percent (100%) for each Structure constructed pursuant <br />to this Agreement. <br />D. Reduced Fees for Water and Sewer Tap Labor <br />4.6 In further consideration for Owner's construction and completion of the above - <br />referenced Improvements, City agrees to reduce rates for water and sewer tap labor fees by <br />twenty-five percent (25%) where required by the City's Public Works Department. <br />E. Local Purchasing <br />4.7 As further consideration for the incentives granted herein, where possible, Owner <br />shall purchase building materials and fixtures from vendors located within the City of Paris. <br />F. Default <br />4.8 It shall be an act of default of the Economic Development Agreement should <br />Owner fail to construct and compete all of the Improvements specified herein within the five (5) <br />year period set forth herein (by December 7, 2030). <br />M <br />