2026-011 - Amending the tax abatement agreement, as previously amended, with We’re Going to Paris, LLC on the property located at 6354 Northwest 7th Street, Martin St., Addition Block A, Lots

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before February 12, 2024: (1)_qommencinu. construction of the Imi) ' rovements: " or " (2 ' ) securing the entire Property by boarding up the buildings thereon so as to j?jqyentjjersop or persons from gaining entry thereto and continuing= to secure the buildings,�hr�ouglj completion of the Improvements. This Agreement shall terminate upon the expiration of the abatement period on -May -&,-2-G9 unless other -wise terminated by default or agreement of the Parties. Section 4. Article III, Section 3.5 is hereby amended to read as follows: 3.5 Owner agrees and covenants that it will diligently and faithfully doom jjlctc eanotiret the Improvements referenced herein in a good and workmanlike manner no later than Maw, 31, 2025 Owner farther covenants and agrees that construction of the Improvements will be in accordance with all applicable state and local laws, codes, and regulations or Owner will procure a valid waiver or variance thereof. Section 5. Article IV, Section B ("Default"), paragraph 4.5 is hereby amended to read as follows: 4.5 If (a) the Improvements for which an abatement has been granted are not completed in accordance with this Agreement date4ieFesf no later than Mav 31. 2025); or (b) Owner allows its taxes owed the City to become delinquent and fails to timely and properly follow the legal procedures for protest or contest of any such; or (c) Owner materially breaches any of the other terms, provisions or conditions of this Agreement, then Owner shall be considered in default of this Agreement. In the event Owner defaults in its performance of either (a), (b), or (c) above, then City shall give Owner written notice of such default and if Owner has not cured such default within sixty (60) days of said written notice, this Tax Abatement Agreement may be terminated by the City. Notice of default shall be given in accordance with Article V of this Agreement. CITY OF PARIS 4;,t-,4nald B. Hughes Mayor Date Signed: