Res 2007-112 - Laserfiche WebLink

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an entity that contemplates the same improvements to the Property, except to the extent Phase One and Phase Two of the Facility have 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 PART 8. PROPERTY TAX APPRAISED VALUE Section 8.01. It is understood and agreed between the parties that the Property and the improvements upon the Property will be appraised at market value for the purposes of property tax assessment throughout the term of this Agreement, and that this value may change during the term of this Agreement. The calculation of abated taxes will make use of this appraised value as it is determined for each year of the Abatement Period. PART 9. INDEPENDENT CONTRACTOR/INDEMNITY Section 9.01. It is understood and agreed between the parties that the City and SMVP, in executing this Agreement, and in performing their respective obligations, are acting independently, and not in any form of partnership or joint venture, The City assumes no responsibilities or liabilities to any third parties in connection with this Agreement, and SMVP agrees to indemnify, defend and hold the City harmless from any such liabilities PART 10. NOTICE Section 10.01. All notices called for or required by this Agreement will be delivered to the following by certified mail, postage pre-paid, effective five days after mailing, or by hand delivery or overnight delivery, effective upon delivery: Robert McDonald San Marcos Vista Partners, Limited 2110 A Boca Raton Drive, Suite 206 Austin, TX 78747 City Manager City of San Marcos 630 East Hopkins San Marcos, Texas 78666 Each party will notify the other party in writing of any change in its address. PART 11. MISCELLANEOUS Section 11.01. This Agreement was approved by the City Council at its meeting on February 15, 2005. 5