2015-027 - Approving a Tax Abatement Agreement with Paris Lakes Medical Center, LLC

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VII. No Conflict of Interest 7.1 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. VIII. Conditions 8.1 The terms and conditions of this Agreement are binding upon the parties hereto and their successors and assigns. 8.2 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 the City, its elected officials, officers, agents and employees harmless therefrom. It is further understood and agreed among the parties that the City, in performing its obligations hereunder, is acting independently, and the Owners 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. IX. Compliance Provisions 9.1 Owner agrees that the City, its designated officials, officers, employees and /or agents shall have the reasonable right of access to all records (or copies of records) concerning the Owner's investment in the Property and Improvements for the purpose of conducting a tax abatement compliance review. Within sixty (60) days of receipt of written request from City, Owner shall provide the City or its designee with a detailed Asset Report containing a list of assets placed into service at the Project since the Effective Date of this Agreement. The Asset Report will provide the date on which the asset was capitalized, the acquisition amount, and the accumulated depreciation amount. At the City's request, the Owner will provide actual invoices to support the amounts shown on the Asset Report. 9.2 The Owner further agrees that the City, its agents and employees, shall have reasonable right of access to the Property to inspect the Improvements in order to insure that the construction of the Improvements are in accordance with this Agreement and all applicable state and local laws and regulations or valid waiver thereof. After completion of the Improvements, the City shall have the continuing right to inspect the Property and Improvements to insure that it is thereafter maintained and operated in accordance with this Agreement during the term of the Agreement or any extensions thereof. All inspections will be made only after giving the Owner written notice of the forthcoming inspection at least seventy -two (72) hours in advance and such inspections shall be conducted in such a manner so as not to interfere with the construction and operation of the Project. Representatives of the City inspecting the Project shall be accompanied by one (1) or more representatives of the 6