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Page 5 process. 3. The City agrees to charge Hays Energy an economic development incentive rate of $.69 / 1000 gallons for reclaimed water provided by the City to Hays Energy during the period beginning with the startup of Facility operations and extending through December 31, 2011. Thereafter, the City will charge for the reclaimed water at the prevailing rate for the water as established by the City's governing body. The provision of this reclaimed water will be subject to the terms of the separate water supply agreement between the City and Hays Energy. 4. The City agrees to consider any other reasonable requests made by Hays Energy in order to assist it in constructing the Facility. PART 7. EFFECT OF SALE, ASSIGNMENT OR LEASE OF PROPERTY Section 7.01. The Tax Abatement will be assignable to each new owner of the Property, or to financing entities in the event third party financing is sought, for the balance of the term of this Agreement. Transfers which result in a continuation of the business in the same general manner as operated under Hays Energy are consented to and do not require further City Council approval; in this case, Hays Energy or its successor will give written notice to the City within 10 days after the transaction, and Hays Energy will be released of any further duties or obligations under this Agreement. Section 7.02. For transfers which will not result in a continuation of business as described above, this Agreement may be assigned to a new owner of the Property with the written consent of the City Council, which will not be unreasonably withheld, and Hays Energy will be released of any further duties or obligations under this Agreement. Section 7.03. The new owner will assume all the duties and obligations of Hays Energy upon the same terms and conditions as set out in this Agreement. Any assignment of this Agreement will be to an entity that contemplates the same improvements to the Property, except to the extent the Facility has been completed. No assignment will be approved if the assignor or the assignee is indebted to the City for ad valorem taxes or other obligations.