2013-011 RES APPROVING AND AUTHORIZING TAX ABATEMENT AGREEMENT WITH CAMPELL SOUP

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as is estimated in the Property Taa�c Abatement Schedule attached hereto as Exhibit D. Said abatement shall be an amount equal to one hundred percent (100%) of the taxes assessed upon the completed value of the IMPROVEMENTS on January 1, of the year in which this taa� abatement commences (i.e. January 1, 2014), with this tax abatement continuing at the percenta�e rate shown in the attached Propertv Tax Abatement Schedule attached hereto, for each year during the seven (7) year term of this AGREEMENT. This tax abatement shall be implemented and enforced in accordance with all applicable state and local regulations or valid waiver thereof; provided that the OWNER shall have the right to protest or contest any assessment of the PROPERTY, and said abatement shall be applied to the amount of taxes finally determined to be due as a result of any such protest or contest. For the purposes of this AGREEMENT, the initial value of the existing property of the OWNER that is not subject to tax abatement AND WHICH DOES NOT INCLUDE THE IMPROVEMENTS (as defined herein) shall be deemed to be the values as shown on the tax rolls of the Lamar County Appraisal District as of January 1, 2013, for Land, Buildings and tangible Personal Property, which values are not known as of the execution date of this Agreement, but shall include the same tax accounts held by OWNER with Lamar County Appraisal District as of January 1, 2012. This current abatement, which is the subject of this AGREEMENT, shall extend for a period of seven (7) years beginning January 1, 2014. 7.2 The abatement granted herein shall be subject to and governed by the POLICY STATEMENT CRITERIA AND GUIDELINES for TAX ABATEMENT, a copy of which is attached hereto as Exhibit E. 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 AGREEMENT, this AGREEMENT shall control. VIII. No Conflict of Interest 8.1 The OWNER represents and warrants that neither the PROPERTY nor the IMPROVEMENTS include any real or personal 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 axe binding upon the parties hereto and their successors and assigns. 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 by law, the CITY agrees to indemnify and hold harmless the OWNER therefrom. �7