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<br />8.2. In order for OWNER to exercise the option granted in the above paragraph, notice <br />shall be given in writing no later than March 31, 2003. <br /> <br />IX. <br />No Conflict of Interest <br /> <br />9.1. The CITY represents and warrants that the PROPERTY does not include any <br />property that is owned by a member of the City Council approving, or having responsibility for <br />the approval of, this AGREEMENT. <br /> <br />X. <br />Conditions <br /> <br />10.1. The terms and conditions of the AGREEMENT are binding upon the successors and <br />assigns of all parties hereto. <br /> <br />10.2. It is understood and agreed between the parties that the OWNER, in performing its <br />obligations hereunder, is acting independently, and the CITY assumes no responsibility or liability <br />in connection therewith to third parties and OWNER agrees to indemnify and hold harmless the <br />CITY therefrom; it is further understood and agreed among the parties that the CITY, in <br />performing its obligations hereunder, is acting independently, and the OWNER assumes no <br />responsibility or liability in connection therewith to third parties and the CITY agrees to indemnify <br />and hold harmless the OWNER therefrom. <br /> <br />XI. <br />Compliance Provisions <br /> <br />11.1. 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 <br />applicable state and local laws and regulations or valid waiver thereof. After completion of the <br />IMPROVEMENTS, the CITY shall have the continuing right to inspect the PROPERTY to insure <br />that it is thereafter maintained and operated in accordance with this agreement during the term of <br />the AGREEMENT, and OWNER shall provide evidence as to the creation of the twenty-two (22) <br />new, permanent jobs described in this Agreement. Representative of the CITY inspecting the <br />property and improvements shall sign an agreement promising to maintain the confidentiality of <br />any information they obtain in connection therewith except for the purposes of assessing and <br />collecting ad valorem taxes. Said representative shall also be required to observe any facility rule <br />and regulation applicable to the property. <br /> <br />TAX ABATEMENT AGREEMENT. Page 5 <br />