|
physical therapy and pathology capabilities and physician offices with related
<br />fixtures, equipment, furniture and landscaping, parking and ingress and egress
<br />roads;
<br />C. Medical Office Building No. 2 ( "MOB 2 ") with a minimum 60,000 square feet of
<br />finished space, which will include: an oncology center and physician offices with
<br />related fixtures, equipment, furniture and landscaping, parking and ingress and
<br />egress roads;
<br />D. Medical Office Building No. 3 ( "MOB 3 ") with a minimum 60,000 square feet of
<br />finished space, which will include: a long -term acute care skilled nursing facility
<br />and physician offices with related fixtures, equipment, furniture and landscaping,
<br />parking and ingress and egress roads;
<br />E. Medical Office Building No. 4 ( "MOB 4 ") with a minimum of 16,000 square feet
<br />of finished space, which will include: an urgent care center, physician offices, a
<br />leasing office and related fixtures, equipment, furniture and landscaping, parking
<br />and ingress and egress roads;
<br />3.3 A Minimum of ONE HUNDRED AND EIGHT MILLION and No /100
<br />DOLLARS ($108,000,000.00) will be invested by OWNER in the
<br />Improvements which will be eligible for tax abatement under this
<br />Agreement, including, but not limited to: the Hospital, Medical Office
<br />Buildings, other Medical Facility buildings and taxable personnel property to
<br />furnish and equip the Hospital and other Medical Facilities described in this
<br />Agreement. All Improvements referenced above shall be completed by June
<br />1, 2018 or Owner shall be in default of this Agreement; provided, however,
<br />Owner shall have such additional time to complete the Improvements as may
<br />be required in the event of "force majeure" if Owner is diligently and
<br />faithfully pursuing completion of the installation of the Improvements. For
<br />this purpose, "force majeure" shall mean any contingency or cause beyond
<br />the reasonable control of Owner including, without limitation, acts of God, or
<br />the public enemy, any natural disaster, war, riot, civil commotion,
<br />insurrection, governmental or de facto governmental action, fires, explosions,
<br />accidents, floods, and labor disputes or strikes unless caused by acts or
<br />omissions of Owner.
<br />Owner will not be in default of this Agreement if all Improvements described
<br />herein are completed and in receipt of a certificate of occupancy from the
<br />City of Paris, Texas on or before June 1, 2018. Should Owner unilaterally
<br />decide to add an extra wing or an extra floor to the Hospital or to one of the
<br />Medical Official Buildings, after timely completing the Improvements
<br />described herein that will not cause a default under this Agreement.
<br />3.4 All Improvements shall be described and detailed in the Owner's signed and
<br />sworn report prepared after the completion of each building referenced above,
<br />including any taxable personal property, machinery, equipment or other fixtures
<br />which are included in the building. The report shall be furnished by Owner to City
<br />in format referenced in Article X herein. A copy of the completion report shall
<br />also be filed with the Chief Appraiser of the Lamar County Appraisal District.
<br />3
<br />
|