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<br />Property; <br /> <br />g) A statement limiting the uses of the property consistent with the general purpose of <br />encouraging development or redevelopment of the Reinvestment Zone during the <br />period that property tax abatement is in effect; <br /> <br />h) That access to the project is provided to allow for the inspection by City inspectors <br />and officials in order to ensure that the improvements or repairs are made according to <br />the specifications and conditions of the agreement; <br /> <br />i) That property tax revenue lost as a result of the tax abatement agreement will be <br />recaptured by the City if the owner of the Property fails to make the improvements or <br />repairs as provided by the agreement; <br /> <br />j) Each term agreed to by the owner of the Property; <br /> <br />k) A requirement that the owner of the Property shall certify annually to the City that <br />the owner is in compliance with each applicable term of the agreement; <br /> <br />1) Contractual obligations in the event of default, violation of terms or conditions, <br />delinquent taxes, recapture, administration and assignment, or other provisions that <br />may be required by state law, or in the discretion of the City Council; and <br /> <br />m) That the City may cancel or modify the agreement if the Property owner fails to <br />comply with the agreement. <br /> <br />X. Default. If the City determines that the person or entity receiving an abatement is in default <br />according to the terms and conditions of its agreement, the City shall notify the company or <br />individual in writing at the address stated in the agreement, and if such default is not cured <br />within a reasonable time specified in such notice ("Cure Period"), then the agreement may be <br />modified or terminated without further notice. In the event the company or individual allows <br />its ad valorem taxes owed to the City to become delinquent and fails to timely and properly <br />follow the legal procedures for their protest and/ or contest, or violates any of the terms and <br />conditions of the agreement and fails to cure during the Cure Period, the agreement then may <br />be modified or terminated without further notice, and the agreement may provide a formula for <br />recapture of all or part of the taxes abated. At any time before the expiration, any tax abatement <br />agreement may be terminated by mutual consent of all parties i.nvolved in the same manner <br />that the agreement was executed. <br /> <br />XI. Confidentiality of Proprietary Information. Information that is provided to a taxing unit in <br />connection with an application or request for tax abatement under these Guidelines and that <br />describes the specific processes or business activities to be conducted or the equipment or other <br />property to be located on the Property for which tax abatement is sought is confidential and not <br />subject to public disclosure until the agreement is executed. Such information in the custody of <br />the City after the agreement is executed is not confidential under these Guidelines. <br /> <br />II <br /> <br />.------..--...-- -.-.-- .--..--- - ..t. <br />