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Marcos, Texas upon which the Project shall be executed, a map, plat or survey of which is attached as Exhibit "B" and made apart hereof for all purposes. Section 2.06. "New Improvement" means the Laboratory for the testing of Plasma samples, the Plant Project, the Warehouse and such other improvements to real property as further described in Exhibit "C", attached hereto and made a part hereof for all purposes, excluding Personal Property (as defined below), subject to ad valorem tax assessment and built or constructed in accordance with the schedule in Exhibit "C". Section 2.07. "Personal Property" means all inventory, materials, equipment or other personal property brought onto the Land in connection with the Business and any other activities of Grifols after the effective date of this Agreement and subject to ad valorem personal property tax assessment. Section 2.08. "Personal Property Taxes" in any given year during the Term of this Agreement are the City's share of the ad valorem taxes received from the Tax Office on the value of all Personal Property in excess of the ad valorem taxes received for Personal Property based on the Base Tax Year Value. Section 2.09. "Project" means the location and expansion of the Business, to include the addition of New Improvements and Personal Property and the creation of new Jobs in accordance with the schedules and further details in Exhibit "C", attached hereto and made a part hereof for all purposes. Section 2.10. "Tax Office" means the Hays County Tax Assessor-Collector. Section 2.11. The "Term" of this Agreement shall commence on the Effective Date and continue until December 31, 2024, except that, to the extent that Personal Property Taxes are assessed and timely paid and received, the Term shall be extended for the limited purpose of Page 3 of 22