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<br />e <br /> <br />e <br /> <br />(~~~(~) .@)\V7 <br />. /. .. ,I, r 11 <br /> <br />(3) the Owner fails to timely file its annual rendition or <br />its annual application for tax abatement (the "form <br />11.28") with HCAD during the Abatement Period (taking <br />into account any extensions of applicable time periods <br />for such filings granted in accordance with the Tax Code") <br />or makes a materially false statement in either; or <br /> <br />(4) the Owner is in breach of any material warranty and fails <br />to cure within 60 days from the date notice is provided <br />thereof as described below (the Cure Period); or <br /> <br />(5) the Owner violates any of the terms and conditions of <br />this Agreement and fails to cure during the Cure Period. <br /> <br />(d) In the event of default by the Owner, the Owner shall <br />notify the City within 90 days of such default of the terms and <br />conditions of this Agreement. <br /> <br />(e) Should the City determine that the Owner is in default <br />according to the terms and conditions of this Agreement, the City <br />shall notify the Owner in writing by u.s. Mail, certified, return <br />receipt requested, at the addresses stated in this Agreement, and <br />if such default is not cured during the Cure Period, then this <br />Agreement may be terminated as to all parties and all taxes <br />previously abated by virtue of this Agreement, shall be recaptured <br />and paid by the Owner within sixty (60) days of the termination. <br /> <br />(f) In the event the Owner vacates the Real Property or <br />abandons and discontinues the use of the Abated Property beyond the <br />12-month period set forth in Section 7(a) above (and other than for <br />the reasons set forth in Section 7(a)), then this Agreement may be <br />terminated as to all parties and all taxes abated during the <br />preceding calendar year on the Abated Property shall be recaptured, <br />and shall be paid by the Owner to the City within 60 days of the <br />termination of this Agreement. <br /> <br />(9) Notwithstanding the provisions of subsections 7(e) and <br />(f) above, in the event of default by Owner, the Director and city <br />Attorney may negotiate and recommend to the City council amendments <br />to this Agreement in lieu of termination. <br /> <br />8. Administration <br /> <br />(a) For purposes of determining the amount of abatement <br />pursuant to this Agreement, the chief appraiser of HCAD shall <br />annually determine the assessed value of the Improvements listed on <br />Exhibit "c" hereof. Each year, the Owner shall furnish the city <br />wi th such information as may be necessary for calculating the <br />amount of abatement. Once the value of the Improvements has been <br />established and the amount of the abatement calculated, the chief <br />appraiser of HCAD shall notify the jurisdictions that levy taxes of <br />the amount of assessment. <br /> <br />(b) Upon completion of construction of the Improvements, the <br />Director shall annually evaluate each facility receiving abatement <br />to ensure compliance with this Agreement and prepare a report of <br /> <br />8 <br />