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<br />Page 3 <br /> <br />certificate to Hays Energy validating the Tax Abatement for the current tax year. <br />Section 4.02. At all times until the City's rights to declare default against Hays Energy have <br />expired, the City will have access to the Property and facilities of Hays Energy upon reasonable prior <br />notice for the purpose of inspecting them to ensure that the Facility is constructed, installed, <br />maintained and used in accordance with the terms of this Agreement. <br /> <br />PARTS. DEFAULT <br />Section 5.01. The City Council may declare a default under this Agreement if Hays Energy: <br />1. fails to complete construction of the Facility by the deadline in Section 2.02 above; <br />2. refuses, fails or neglects to comply with any of the terms of this Agreement, <br />including the provision for the creation and maintenance of jobs in Section 2.03 <br />above; <br />3. made any representation in this Agreement or in the application to the City for tax <br />abatement that is false or misleading in any material respect; <br />4. allows ad valorem taxes on the Property owed to the City to become delinquent <br />unless Hays Energy timely and properly protests or contests the taxes; or <br />5. ceases the use of reclaimed water from the City's wastewater treatment plant as its <br />primary source of cooling water for the operation of the Facility. <br />Section 5.02. If the City Manager determines that Hays Energy is in default of this <br />Agreement on a basis other than the failure to create jobs or to pay ad valorem taxes on the Property, <br />the City Manager will notify Hays Energy in writing, and if the default is not cured \\'ithin 60 days <br />from the date of the notice, then the City Council may terminate this Agreement. No cure is allowed <br />for defaults involving the failure to create jobs or to pay ad valorem taxes on the Property. If the City <br />Council terminates this Agreement, the Tax Abatement for the remainder of the Abatement Period <br />will be rescinded. <br />Section 5.03. If the City Manager determines that Hays Energy has failed to create the full <br />number of full-time jobs described in Section 2.03 by the deadline stated in that section, then this <br />Agreement will terminate, and the Tax Abatement will be rescinded. Ifthe City Manager determines <br />that Hays Energy has failed to ensure the maintenance of the full number of full-time jobs during any <br />