2006-072-RES-Tax Abatement Kimberely Clark Tax Abatement

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still employs at least five hundred (500) persons working at such plant. Upon receipt of such written notice requesting the extension of the tax abatement from the Owner and certifying that the employment status at the plant is as is required in (ii) above, the City will permit the tax abatement described in this Agreement of 100% of the taxes assessed upon the increased value of the Improvements made by Owner to the Property described in Section III of this Agreement, over the value in the year in which this Agreement is executed, to continue for the calendar years, 2015, 2016 and 2017. Effective January 1, 2018, one hundred percent (100%) of the then current appraised value of the Property and the Improvements will be placed on the tax rolls for taxation. 7.2 The abatement granted herein shall be subject to and governed by the Guidelines and Criteria for Tax Abatements, a copy of which is attached hereto as Exhibit E, and Owner shall comply with the requirements of Exhibit E in the performance of this Agreement, save and except that, in the event of a conflict between the requirements of Exhibit E and this Agreemen~ this Agreement shall control. 7.3 Owner covenants and agrees that subsequent to the date 0 f this Agreement, any application by Owner for a new tax abatement for equipment or real property located within the Property and the Investment Zone applicable to this Agreement shall be subject to and governed by the City's Criteria and Guidelines for Tax Abatement in effect at the time of the new application. VIII. No Conflict of Interest 8.1 The Owner represents and warrants that the Property does not include any Property that is owned or leased by a member of the Planning and Zoning Commission of the City of Paris, nor by a member of the City Council approving, or having responsibility for the approval of, this Agreement. IX. Conditions 9,1 The terms and conditions of this Agreement are binding and enforceable upon and with respect to the successors and assigns of all parties hereto. 9.2 It is understood and agreed between the parties that the Owner, in performing its obligations hereunder, is acting independently, and the City assumes no responsibility or liability in connection therewith to third parties; and Owner agrees to indemnify and hold harmless the City therefrom. It is further understood and agreed among the parties that the City, in performing its obligations hereunder, is acting independently, and the Owner assumes no responsibility or liability in connection therewith to third parties and, to the extent permissible 5