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Agreement. <br /> <br /> Section 7.02. For transfers which wi]l not result in a conlinuation of business as described <br />above, this Agreement may be assigned lo a new owner of the Property with the writlen conseut of <br />the CiD, Council, which will not be unreasonably wilhheld, and Global Rock will be released of any <br />fur/her duties or obligations under this Agreemenl. <br /> <br /> Seelion Z03. The new owner will assume all the duties and obligations of Olobal Rock <br />upon the salve lerms and condilions as sm out in lhis Agreement. ~y assignment of this Agreement <br />will be lo an entity thal conlemp]ales the same improvements lo the Property, except IO the extent <br />the Building reconstruction, renovation and remodeling have been compleled. No assignment will <br />be approved iflbe assignor or the assignee is ~ndebled ~o lbe CJly for ad YaJorem taxes or otJ~er <br />obligations. <br /> <br /> PART 8. PROPERTY TAX APPI~ISED VALUE <br /> <br /> Section 8.01. It is underslood and agreed belween the parties that 1he Property and the <br />improvements upon the Property will be appraised al malq~el value for 1he pm?oses of property lax <br />assessment tlu'oughout the lerll~ of this Agreemenl. and lhal this value may change during the term <br />of this Agreement. The calculation of abaled 1axes will make use of this appraised value as it is <br />determined for each year of the Abalemenl Period. <br /> <br /> PART 9. INDEPILNDENT CONT~CTO~INDEMNITY <br /> <br /> Section 9.01. 1t is underslood and agreed belween the pmlies thai the Ci9, and Global Rock, <br />in execuling this Agreement, and in performing their respect/ye obligalions, m'e acling <br />independently, and not in any form of parmership or joint vemm'e. The City assumes no <br />responsibilities or liabilities Io any third panics in com~eclion with this Agreemem. and Global Rock <br />agrees lo indemni~v, defend and hold the City harmless fi'om any such liabilities. <br /> <br /> PART 10. NOTICE <br /> <br /> Section 10.01. All nolices called for or required by lhis Agreement will be delivered to the <br />following by certified mail, postage pre-paid, effective five days after mailing, or by band delive~T <br />or overnight delivm~, effective upon delivery: <br /> <br /> Dennis Figol <br /> Global Rock Invesmaents, L~d. <br /> 1620 Flaming Oak Drive <br /> New Braunfels, Texas 78132 <br /> <br /> <br />