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<br /> <br /> <br /> <br /> <br /> <br /> Appraisal <br /> <br /> F. It is understood and agreed among the parties that the <br /> PROPERTY, also knows as Tax Reinvestment Zone Number Three, <br /> sha11 be appraised at market value for the purposes of <br /> property tax assessment effective January l, 1992, and <br /> continued at market value until the expiration of this <br /> AGREEMENT. <br /> Conflict of Interest <br /> §8. The CITY represents and warrants that the PROPERTY does <br /> not include any property that is owned by a member of the <br /> City Council approving, or having responsibility for the <br /> approval vf, this AGREEIAENT. <br /> Assignment <br /> <br /> §9. The terms and conditions oz the AGREEr1ENT are binding <br /> upon the successors and assigns of all parties hereto. <br /> However, this AGREEMENT cannct be assigned by OWNER other <br /> than to either the Parent Corporation or a wholly-owned <br /> subsidiary of CWNER unless written permission is first <br /> granted by the CITY, which permission shall be at the sole <br /> discretion of the CITY. <br /> Indemnification <br /> <br /> §10. It is understood and agreed between the parties that the <br /> OWNER, in performing its obligations hereunder, is acting <br /> independently and the CITY assumes no responsibility or <br /> obligations hereunder, and the CITY assumes no responsibility <br /> or liability in connection therewith to third parties and <br /> OWNER a;rees to indemnify and hold harmless the CITY <br /> therefrom; it is further understood and ag-reed among the <br /> parties that the CITY, in perforffiing its obligations <br /> hereunder, is acting independently, and the OWNER assumes no <br /> responsibility or liability in connection therewith to third <br /> parties and the CITY agrees to indemnify and hold harmless <br /> the OWNER therefrom. <br /> Inspection <br /> §11. The OWNER further agrees that the CITY, its agents and <br /> employees, shall have reasonable right of access to the <br /> property to inspect the IMPROVENIENTS in order to insure that <br /> the construction of the IMPROVEMENTS are in accordance with <br /> this AGREEMENT and all applicable state and local laws and <br /> regulations or that the same have been validly waived. After <br /> completion of the Ir1PROVEMENTS, the CITY shall have the <br /> continuing right to inspect the PROPEKTY to insure that it is <br /> thereafter maintained and operated in accordance with this <br /> agreement during the term of the AGREEI4ENT. <br /> MERICO, INC. TAX ABATEPIENT AGREEMENT - Page 4 <br />