Laserfiche WebLink
<br /> ('¡ .A ~ ~ f\ <br /> ¡j 'f ~ <br /> .u <br /> 6 <br />Equipment to become delinquent and fails to timely and properly <br />follow the legal procedures for their protest or contest, or if HEB <br />violates any of the terms and conditions of this Agreement and <br />fails to cure them during the Cure Period, the City may terminate <br />this Agreement and all Abated Taxes previously abated by virtue of <br />this Agreement will be recaptured, the Tax Abatement will be <br />rescinded and such previously Abated Taxes will be paid by HEB to <br />the City prior to the delinquency date for such year; provided, <br />however, that in no event shall HEB be required to pay such taxes <br />within less than sixty (60) days of the termination. <br /> D. 1. If the City Council determines that HEB has failed <br />to create the jobs specified in Section 2 to be created by April 1, <br />1992, then this agreement shall terminate and all Abated Taxes <br />previously abated by virtue of this agreement will be recaptured, <br />the Tax Abatement will be rescinded and the amount of previously <br />Abated Taxes shall be paid by HEB to the City within sixty (60) <br />days of the termination. <br /> 2. If the City Council determines that HEB has failed <br />to maintain the number of jobs specified in Section 2, then for <br />each job less than the number required to be maintained HEB shall <br />be required to pay the city an amount of money equal to a <br />fractional part of the cumulative amount of Abated Taxes under this <br />Agreement at the time a default is declared by the City Council, <br />with the fraction consisting of one (1) as the numerator, and the <br />number of jobs to be maintained as the denominator. <br /> E. If pursuant to subsection A, the City declares that HEB <br />