Common use of Responsibility of Owner Clause in Contracts

Responsibility of Owner. In consideration of receiving the tax abatement granted herein, Owner represents and agrees: (a) That construction of the Improvements will commence on or before November 1, 2011. (b) That construction of the Improvements shall be completed on or before October 31, 2012. Owner shall provide Tax Assessor/Collector a certified statement evidencing a minimum of $1,600,000 project costs with respect to the Improvements within thirty (30) days after completion of the Improvements to be constructed. (c) That the Certified Appraised Value of the Improvements on January 1, 2013, and on each and every January 1 thereafter during the term of this Agreement will not be less than $1,600,000. Failure to meet the requirements of this section will invalidate the tax abatement for the year this requirement was not satisfied. (d) That total inventory having a Certified Appraised Value of not less than $2,500,000 shall be located at the Improvements on or before January 1, 2013, and remain for the term of this Agreement. (e) That beginning January 1, 2013, and thereafter during the term of this Agreement, Owner shall occupy and/or lease the Improvements, which shall render employment of not less than twenty-five (25) new full-time employees and seventy-five (75) full-time employees retained from a relocated lessee and/or Owner. (f) That Owner shall provide County Tax Assessor/Collector with a copy of the Certificate of Occupancy for the Improvements on or before November 15, 2012. Owner’s failure to present a copy of the Certificate of Occupancy to County may result in a forfeiture of the tax abatement of tax year 2013. (g) That Owner has, as of the effective date of this Agreement, the financial resources to implement the above representations. (h) That Owner will participate in the continuing economic development process in Fort Bend County by becoming a Regular Member of the Greater Fort Bend Economic Development Council for a minimum period coinciding with the term of this Agreement. (i) OWNER SHALL BE RESPONSIBLE FOR NOTIFYING THE DISTRICT OF THE ABATEMENT, INCLUDING FILING WITH THE DISTRICT ANY APPLICATION OR OTHER FORMS NECESSARY TO QUALIFY FOR OR RECEIVE THE ABATEMENT GRANTED. (j) OWNER SHALL BE RESPONSIBLE FOR REQUESTING AN ASSIGNMENT OF THIS AGREEMENT IN THE EVENT THE REAL PROPERTY THE SUBJECT OF THIS AGREEMENT IS SOLD, TRANSFERRED OR ASSIGNED. ANY ASSIGNMENT IS NOT EFFECTIVE UNTIL APPROVED IN WRITING BY COUNTY.

Responsibility of Owner. In consideration of receiving the tax abatement granted herein, Owner represents and agrees: (a) That construction of the Improvements will commence on or before November 1March 31, 20112013. (b) That construction of the Improvements shall be completed on or before October 31June 30, 20122014. Owner shall provide the District’s Tax Assessor/Collector a certified statement evidencing a minimum of $1,600,000 25,000,000 in project costs with respect to the design and construction of the Improvements within thirty sixty (3060) days after completion of the Improvements to be constructedImprovements. (c) That the Certified Appraised Value of the Improvements on January 1, 20132015, and on each and every January 1 thereafter during the term of this Agreement will not be less than $1,600,00015,000,000. Owner may from time to time during the term of this Agreement for the Improvements, install additional improvements, and modify, remove or replace improvements, as Owner may determine in its discretion, provided such shall not modify the minimum value requirements hereof. Failure to meet the requirements of this section will invalidate the tax abatement for the year this requirement was not satisfied. (d) That total inventory having a Certified Appraised Value of not less than $2,500,000 shall be located at the Improvements on or before January 1, 2013, and remain for the term of this Agreement. (e) That beginning January 1, 2013, and thereafter during the term of this Agreement, Owner shall occupy and/or lease the Improvements, which shall render employment of not less than twenty-five (25) new full-time employees and seventy-five (75) full-time employees retained from a relocated lessee and/or Owner. (f) That Owner shall provide County the District’s Tax Assessor/Collector with a copy of the Certificate of Occupancy for the Improvements on or before November 15June 30, 20122014. Owner’s failure to present a copy of the Certificate of Occupancy to County District may result in a forfeiture of the tax abatement of tax year 20132014. (ge) That Owner has, as of the effective date of this Agreement, the financial resources to implement the above representations. (hf) That Owner will participate in the continuing economic development process in Fort Bend County by becoming a Regular Member of the Greater Fort Bend Economic Development Council for a minimum period coinciding with the term of this Agreement. (ig) OWNER SHALL BE RESPONSIBLE FOR NOTIFYING THE DISTRICT CAD OF THE ABATEMENT, INCLUDING FILING WITH THE DISTRICT CAD ANY APPLICATION OR OTHER FORMS NECESSARY TO QUALIFY FOR OR RECEIVE THE ABATEMENT GRANTED. (jh) OWNER SHALL BE RESPONSIBLE FOR REQUESTING AN ASSIGNMENT OF THIS AGREEMENT IN THE EVENT THE REAL PROPERTY THE SUBJECT OF THIS AGREEMENT IS SOLD, TRANSFERRED OR ASSIGNED. EXCEPT AS OTHERWISE PROVIDED HEREIN, ANY ASSIGNMENT IS NOT EFFECTIVE UNTIL APPROVED IN WRITING BY COUNTYDISTRICT. APPROVAL SHALL NOT BE UNREASONABLY WITHHELD.

Responsibility of Owner. In consideration of receiving the tax abatement Abatement granted herein, Owner represents and agrees: (a) a. That construction of the Improvements Eligible Property will commence on or before November 1December 31, 20112020. (b) b. That construction Owner shall have delivered the Certificate to the County certifying that the Project has achieved Commercial Operations no later than December 31, 2021. c. That simultaneous with the delivery of the Improvements shall be completed on or before October 31Certificate, 2012. Owner shall provide the County’s Tax Assessor/Collector a certified statement evidencing a minimum of $1,600,000 project Project costs with respect to the Improvements within thirty (30) days after completion Eligible Property. Owner’s current and best estimate of the Improvements Project Costs with respect to Eligible Property is $335,000,000, and Owner shall update and provide the final cost estimates for the Eligible Property to County within 30 days of receipt of final design. Owner acknowledges and agrees that in no case shall actual Project Costs be constructed. (c) That less than $250,000,000.00. The parties agree that the Certified Appraised Value of the Improvements Eligible Property on January 1, 20131 of the first year after the Certificate is delivered, and on each and every January 1 thereafter during the term Term of this Agreement, will be the FBCAD Certified Appraised Value as provided for in Texas Tax Code Section 23.26 (but only for the Eligible Property to which Texas Tax Code Section 23.26 applies). Values which have been hypothetically calculated in attached Exhibit C: Hypothetical Calculations Illustration are for reference only. Owner may from time to time during the Term of this Agreement will not be less than $1,600,000install additional Eligible Property, and modify, remove or replace Eligible Property as Owner may determine in its discretion. Failure to meet the requirements of this section Section will invalidate the tax abatement for the any year this requirement was is not satisfiedsatisfied if such failure remains uncured after the notice and cure periods specified in Section 7 below. (d) That total inventory having a Certified Appraised Value of not less than $2,500,000 shall be located at the Improvements on or before January 1, 2013, and remain for the term of this Agreement. (e) That beginning January 1, 2013, and thereafter during the term of this Agreement, Owner shall occupy and/or lease the Improvements, which shall render employment of not less than twenty-five (25) new full-time employees and seventy-five (75) full-time employees retained from a relocated lessee and/or Owner. (f) That Owner shall provide County Tax Assessor/Collector with a copy of the Certificate of Occupancy for the Improvements on or before November 15, 2012. Owner’s failure to present a copy of the Certificate of Occupancy to County may result in a forfeiture of the tax abatement of tax year 2013. (g) That Owner has, as of the effective date of this Agreement, the financial resources to implement the above representations. (h) That Owner will participate in the continuing economic development process in Fort Bend County by becoming a Regular Member of the Greater Fort Bend Economic Development Council for a minimum period coinciding with the term of this Agreement. (i) d. THAT OWNER SHALL BE RESPONSIBLE FOR NOTIFYING THE DISTRICT FBCAD OF THE ABATEMENT, INCLUDING FILING WITH THE DISTRICT FBCAD ANY APPLICATION OR OTHER FORMS NECESSARY TO QUALIFY FOR OR RECEIVE THE ABATEMENT GRANTED. (j) e. THAT OWNER SHALL BE RESPONSIBLE FOR REQUESTING FROM COUNTY AN ASSIGNMENT OF THIS AGREEMENT IN THE EVENT THE REAL ELIGIBLE PROPERTY THAT IS THE SUBJECT OF THIS AGREEMENT IS SOLD, TRANSFERRED OR ASSIGNED. EXCEPT AS OTHERWISE PROVIDED HEREIN, ANY ASSIGNMENT IS NOT EFFECTIVE UNTIL APPROVED IN WRITING BY COUNTY. f. That Owner shall, as of December 31, 2020 have the financial resources to implement the above representations. g. That Owner shall ensure that taxes on all property owned by it in Fort Bend County are current. Delinquent taxes for any Fort Bend County property owned by Owner is a default of Owner’s obligations hereunder and will be grounds for exercising the County’s default remedies regardless of whether the delinquent property is subject to Abatement; provided however that this Agreement does not abrogate Owner’s right to timely protest property tax assessments in compliance with the Texas Tax Code and applicable law.

Responsibility of Owner. In consideration of receiving the tax abatement granted herein, Owner represents and agrees: (a) a. That construction of the Improvements will commence on or before November 1, 2011without delay. (b) b. That construction of the Improvements shall be completed on or before October December 31, 2012. 2018, subject to further extension for force majeure as defined in Section 11 herein or unless otherwise agreed to in writing by the parties. c. That Owner shall provide the District’s Tax Assessor/Collector a certified statement evidencing a minimum of $1,600,000 20,000,000 in project costs with respect to the design, development and construction of the Improvements within thirty sixty (3060) days after completion of the Improvements to be constructedImprovements. (c) d. That Owner shall provide the District’s Tax Assessor/Collector with a copy of the Certificate of Occupancy for the Improvements on or before December 31, 2018, subject to further extension for force majeure as defined in Section 11 herein. Owner’s failure to timely present a copy of the Certificate of Occupancy to District may result in a forfeiture of the tax abatement of tax year 2018. e. That the Certified Appraised Value of the Improvements on January 1, 20132019, and on each and every January 1 thereafter that taxes are abated under this agreement’s provisions must have a minimum value of $20,000,000. Owner may from time to time during the term of this Agreement will not be less than $1,600,000install additional improvements, and modify, remove or replace improvements as Owner may determine in their discretion. Failure to meet the requirements of this section will invalidate the tax abatement for the year this requirement was not satisfied. (d) That total inventory having a Certified Appraised Value of not less than $2,500,000 shall be located at the Improvements on or before January 1, 2013, and remain for the term of this Agreement. (e) That beginning January 1, 2013, and thereafter during the term of this Agreement, Owner shall occupy and/or lease the Improvements, which shall render employment of not less than twenty-five (25) new full-time employees and seventy-five (75) full-time employees retained from a relocated lessee and/or Owner. (f) That Owner shall provide County Tax Assessor/Collector with a copy of the Certificate of Occupancy for the Improvements on or before November 15, 2012. Owner’s failure to present a copy of the Certificate of Occupancy to County may result in a forfeiture of the tax abatement of tax year 2013. (g) That Owner has, as of the effective date of this Agreement, the financial resources to implement the above representations. (h) That f. Owner will have the option to, but shall not be required to, participate in the continuing economic development process in Fort Bend County by becoming a Regular Trustee Member ($6,000/year dues) of the Greater Fort Bend Economic Development Council for a minimum period coinciding with the term of this Agreement. If Owner elects to become a member, Owner shall provide notice to Lessee. (i) g. OWNER SHALL BE RESPONSIBLE FOR NOTIFYING THE DISTRICT FBCAD OF THE ABATEMENT, INCLUDING FILING WITH THE DISTRICT FBCAD ANY APPLICATION OR OTHER FORMS NECESSARY TO QUALIFY FOR OR RECEIVE THE ABATEMENT GRANTED. (j) h. OWNER SHALL BE RESPONSIBLE FOR REQUESTING AN ASSIGNMENT OF THIS AGREEMENT IN THE EVENT THE REAL PROPERTY THE SUBJECT OF THIS AGREEMENT IS SOLD, TRANSFERRED OR ASSIGNED. EXCEPT AS OTHERWISE PROVIDED HEREIN, ANY ASSIGNMENT IS NOT EFFECTIVE UNTIL APPROVED IN WRITING BY COUNTYDISTRICT. i. That Owner has, as of the effective date of this Agreement, the financial resources to implement the above representations. j. That Owner shall ensure that taxes on all property owned by Owner in Fort Bent County Drainage District are current. Delinquent taxes for any Fort Bend County Drainage District property owned by Owner is a default of Owner’s obligations and will be grounds for termination regardless of whether the delinquent property is subject to an abatement, but subject to the notice and cure provision contained herein. k. Notwithstanding the foregoing, disputed taxes shall not be considered a default of Owner’s obligations and shall not be grounds for termination under this Agreement unless such the sole purpose of such dispute is to delay or otherwise hinder the default of this Agreement. Owner shall comply with all Texas laws for disputing taxes in order to avoid a default of Owner’s obligations under this Section.

Responsibility of Owner. agrees: In consideration of receiving the tax abatement granted herein, Owner represents and agrees:and (a) That construction of the Improvements will commence on or before November 1March 31, 20112013. (b) That construction of the Improvements shall be completed on or before October 31June 30, 20122014. Owner shall provide the County’s Tax Assessor/Collector a certified statement evidencing a minimum of $1,600,000 25,000,000 in project costs with respect to the design and construction of the Improvements within thirty sixty (3060) days after completion of the Improvements to be constructedImprovements. (c) That the Certified Appraised Value of the Improvements on January 1, 20132015, and on each and every January 1 thereafter during the term of this Agreement will not be less than $1,600,00015,000,000. Owner may from time to time during the term of this Agreement for the Improvements, install additional improvements, and modify, remove or replace improvements, as Owner may determine in its discretion, provided such shall not modify the minimum value requirements hereof. Failure to meet the requirements of this section will invalidate the tax abatement for the year this requirement was not satisfied. (d) That total inventory having a Certified Appraised Value of not less than $2,500,000 shall be located at the Improvements on or before January 1, 2013, and remain for the term of this Agreement. (e) That beginning January 1, 2013, and thereafter during the term of this Agreement, Owner shall occupy and/or lease the Improvements, which shall render employment of not less than twenty-five (25) new full-time employees and seventy-five (75) full-time employees retained from a relocated lessee and/or Owner. (f) That Owner shall provide County the County’s Tax Assessor/Collector with a copy of the Certificate of Occupancy for the Improvements on or before November 15June 30, 20122014. Owner’s failure to present a copy of the Certificate of Occupancy to County may result in a forfeiture of the tax abatement of tax year 20132014. (ge) That Owner has, as of the effective date of this Agreement, the financial resources to implement the above representations. (hf) That Owner will participate in the continuing economic development process in Fort Bend County by becoming a Regular Member of the Greater Fort Bend Economic Development Council for a minimum period coinciding with the term of this Agreement. (ig) OWNER SHALL BE RESPONSIBLE FOR NOTIFYING THE DISTRICT OF THE ABATEMENT, INCLUDING FILING WITH THE DISTRICT ANY APPLICATION OR OTHER FORMS NECESSARY TO QUALIFY FOR OR RECEIVE THE ABATEMENT GRANTED. (jh) OWNER SHALL BE RESPONSIBLE FOR REQUESTING AN ASSIGNMENT OF THIS AGREEMENT IN THE EVENT THE REAL PROPERTY THE SUBJECT OF THIS AGREEMENT IS SOLD, TRANSFERRED OR ASSIGNED. EXCEPT AS OTHERWISE PROVIDED HEREIN, ANY ASSIGNMENT IS NOT EFFECTIVE UNTIL APPROVED IN WRITING BY COUNTY. APPROVAL SHALL NOT BE UNREASONABLY WITHHELD.

Responsibility of Owner. In consideration of receiving the tax abatement granted herein, Owner represents and agrees: (a) That construction of the Improvements will commence on or before November December 1, 20112013. (b) That construction of the Improvements shall be completed on or before October December 31, 20122014. Owner shall provide the County’s Tax Assessor/Collector a certified statement evidencing a minimum of $1,600,000 3,000,000 in project costs with respect to the design and construction of the Improvements within thirty sixty (3060) days after completion of the Improvements to be constructedImprovements. (c) That the Certified Appraised Value of the Improvements on January 1, 20132015, and on each and every January 1 thereafter during the term of this Agreement will not be less than $1,600,0003,000,000. Owner may from time to time during the term of this Agreement for the Improvements, install additional improvements, and modify, remove or replace improvements, as Owner may determine in its discretion, provided such shall not modify the minimum value requirements hereof. Failure to meet the requirements of this section will invalidate the tax abatement for the year this requirement was not satisfied. (d) That total inventory having a Certified Appraised Value of not less than $2,500,000 shall be located at the Improvements on or before January 1, 2013, and remain for the term of this Agreement. (e) That beginning January 1, 2013, and thereafter during the term of this Agreement, Owner shall occupy and/or lease the Improvements, which shall render employment of not less than twenty-five (25) new full-time employees and seventy-five (75) full-time employees retained from a relocated lessee and/or Owner. (f) That Owner shall provide County the County’s Tax Assessor/Collector with a copy of the Certificate of Occupancy for the Improvements on or before November 15December 31, 20122014. Owner’s failure to present a copy of the Certificate of Occupancy to County may result in a forfeiture of the tax abatement of tax year 20132015. (ge) That Owner has, as of the effective date of this Agreement, the financial resources to implement the above representations. (hf) That Owner will participate in the continuing economic development process in Fort Bend County by becoming a Regular Member of the Greater Fort Bend Economic Development Council for a minimum period coinciding with the term of this Agreement. (ig) OWNER SHALL BE RESPONSIBLE FOR NOTIFYING THE DISTRICT OF THE ABATEMENT, INCLUDING FILING WITH THE DISTRICT ANY APPLICATION OR OTHER FORMS NECESSARY TO QUALIFY FOR OR RECEIVE THE ABATEMENT GRANTED. (jh) OWNER SHALL BE RESPONSIBLE FOR REQUESTING AN ASSIGNMENT OF THIS AGREEMENT IN THE EVENT THE REAL PROPERTY THE SUBJECT OF THIS AGREEMENT IS SOLD, TRANSFERRED OR ASSIGNED. EXCEPT AS OTHERWISE PROVIDED HEREIN, ANY ASSIGNMENT IS NOT EFFECTIVE UNTIL APPROVED IN WRITING BY COUNTY.

Responsibility of Owner. In consideration of receiving the tax abatement Abatement granted herein, Owner represents and agrees: (a) a. That construction of the Improvements Eligible Property will commence on or before November 1December 31, 20112020. (b) b. That construction Owner shall have delivered the Certificate to the District certifying that the Project has achieved Commercial Operations no later than December 31, 2021. c. That simultaneous with the delivery of the Improvements shall be completed on or before October 31Certificate, 2012. Owner shall provide the District’s Tax Assessor/Collector a certified statement evidencing a minimum of $1,600,000 project Project costs with respect to the Improvements within thirty (30) days after completion Eligible Property. Owner’s current and best estimate of the Improvements Project Costs with respect to Eligible Property is $335,000,000, and Owner shall update and provide the final cost estimates for the Eligible Property to District within 30 days of receipt of final design. Owner acknowledges and agrees that in no case shall actual Project Costs be constructed. (c) That less than $250,000,000.00. The parties agree that the Certified Appraised Value of the Improvements Eligible Property on January 1, 20131 of the first year after the Certificate is delivered, and on each and every January 1 thereafter during the term Term of this Agreement, will be the FBCAD Certified Appraised Value as provided for in Texas Tax Code Section 23.26 (but only for the Eligible Property to which Texas Tax Code Section 23.26 applies). Values which have been hypothetically calculated in attached Exhibit C: Hypothetical Calculations Illustration are for reference only. Owner may from time to time during the Term of this Agreement will not be less than $1,600,000install additional Eligible Property, and modify, remove or replace Eligible Property as Owner may determine in its discretion. Failure to meet the requirements of this section Section will invalidate the tax abatement for the any year this requirement was is not satisfiedsatisfied if such failure remains uncured after the notice and cure periods specified in Section 7 below. (d) That total inventory having a Certified Appraised Value of not less than $2,500,000 shall be located at the Improvements on or before January 1, 2013, and remain for the term of this Agreement. (e) That beginning January 1, 2013, and thereafter during the term of this Agreement, Owner shall occupy and/or lease the Improvements, which shall render employment of not less than twenty-five (25) new full-time employees and seventy-five (75) full-time employees retained from a relocated lessee and/or Owner. (f) That Owner shall provide County Tax Assessor/Collector with a copy of the Certificate of Occupancy for the Improvements on or before November 15, 2012. Owner’s failure to present a copy of the Certificate of Occupancy to County may result in a forfeiture of the tax abatement of tax year 2013. (g) That Owner has, as of the effective date of this Agreement, the financial resources to implement the above representations. (h) That Owner will participate in the continuing economic development process in Fort Bend County by becoming a Regular Member of the Greater Fort Bend Economic Development Council for a minimum period coinciding with the term of this Agreement. (i) d. THAT OWNER SHALL BE RESPONSIBLE FOR NOTIFYING THE DISTRICT FBCAD OF THE ABATEMENT, INCLUDING FILING WITH THE DISTRICT FBCAD ANY APPLICATION OR OTHER FORMS NECESSARY TO QUALIFY FOR OR RECEIVE THE ABATEMENT GRANTED. (j) e. THAT OWNER SHALL BE RESPONSIBLE FOR REQUESTING FROM DISTRICT AN ASSIGNMENT OF THIS AGREEMENT IN THE EVENT THE REAL ELIGIBLE PROPERTY THAT IS THE SUBJECT OF THIS AGREEMENT IS SOLD, TRANSFERRED OR ASSIGNED. EXCEPT AS OTHERWISE PROVIDED HEREIN, ANY ASSIGNMENT IS NOT EFFECTIVE UNTIL APPROVED IN WRITING BY COUNTYDISTRICT. f. That Owner shall, as of December 31, 2020 have the financial resources to implement the above representations. g. That Owner shall ensure that taxes on all property owned by it in Fort Bend District are current. Delinquent taxes for any Fort Bend District property owned by Owner is a default of Owner’s obligations hereunder and will be grounds for exercising the District’s default remedies regardless of whether the delinquent property is subject to Abatement; provided however that this Agreement does not abrogate Owner’s right to timely protest property tax assessments in compliance with the Texas Tax Code and applicable law.

Responsibility of Owner. agrees: In consideration of receiving the tax abatement granted herein, Owner represents and agrees:and (a) That construction of the Improvements will commence on or before November 1September 30, 20112012. (b) That construction of the Improvements shall be completed on or before October 31April 30, 20122013. Owner shall provide Tax Assessor/Collector a certified statement evidencing a minimum of $1,600,000 4,000,000 project costs with respect to the Improvements within thirty (30) days after completion of the Improvements to be constructed. (c) That the Certified Appraised Value of the Improvements on January 1, 2013, and on each and every January 1 thereafter during the term of this Agreement will not be less than $1,600,0003,000,000. Failure to meet the requirements of this section will invalidate the tax abatement for the year this requirement was not satisfied. Notwithstanding the foregoing, County understands that the Improvements will still be under construction as of January 1, 2013 and, as a result, the Certified Appraised Value of the Improvements as of January 1, 2013 may be less than $3,000,000. Accordingly, failure to meet the $3,000,000 Certified Appraised Value threshold as of January 1, 2013 shall not invalidate the tax abatement for the calendar year 2013. (d) That total inventory having a Certified Appraised Value of not less than $2,500,000 shall be located at the Improvements on or before January 1, 2013, and remain for the term of this Agreement. (e) That beginning January 1, 2013, and thereafter during the term of this Agreement, Owner shall occupy and/or lease the Improvements, which shall render employment of not less than twenty-five (25) new full-time employees and seventy-five (75) full-time employees retained from a relocated lessee and/or Owner. (f) That Owner shall provide County Tax Assessor/Collector with a copy of the Certificate of Occupancy for the Improvements on or before November 15May 1, 20122013. Owner’s failure to present a copy of the Certificate of Occupancy to County may result in a forfeiture of the tax abatement of tax year 2013. (ge) That Owner has, as of the effective date of this Agreement, the financial resources to implement the above representations. (hf) That Owner will participate in the continuing economic development process in Fort Bend County by becoming a Regular Member of the Greater Fort Bend Economic Development Council for a minimum period coinciding with the term of this Agreement. (ig) OWNER SHALL BE RESPONSIBLE FOR NOTIFYING THE DISTRICT OF THE ABATEMENT, INCLUDING FILING WITH THE DISTRICT ANY APPLICATION OR OTHER FORMS NECESSARY TO QUALIFY FOR OR RECEIVE THE ABATEMENT GRANTED. (jh) OWNER SHALL BE RESPONSIBLE FOR REQUESTING AN ASSIGNMENT OF THIS AGREEMENT IN THE EVENT THE REAL PROPERTY THE SUBJECT OF THIS AGREEMENT IS SOLD, TRANSFERRED OR ASSIGNED. ANY ASSIGNMENT IS NOT EFFECTIVE UNTIL APPROVED IN WRITING BY COUNTY. (i) In consideration of receiving the tax abatement granted herein, Lessee represents and agrees: (a) That beginning January 1, 2014, and thereafter during the term of this Agreement, Lessee shall occupy and/or lease the Improvements, which shall render employment of not less than eighty-five (85) full-time employees. (b) That Lessee has, as of the effective date of this Agreement, the financial resources to implement the above representations. (c) That Lessee will participate in the continuing economic development process in Fort Bend County by becoming a Regular Member of the Greater Fort Bend Economic Development Council for a minimum period coinciding with the term of this Agreement.

Responsibility of Owner. In consideration of receiving the tax abatement granted herein, Owner represents and agrees: (a) That construction of the Improvements will commence on or before November 1, 2011. (b) That construction a. Construction of the Improvements shall be completed on or before October December 31, 20122013. Owner shall provide Tax Assessor/Collector a certified statement evidencing a minimum of $1,600,000 14,000,000 in project costs with respect to the design and construction of the Improvements and Eligible Property within thirty sixty (3060) days after completion their completion. b. The combined certified appraised value of the Improvements to be constructed. (c) That the Certified Appraised Value of the Improvements and Eligible Property on January 1, 2013, and on 1 of each and every January 1 thereafter during the term of year that taxes are abated under this Agreement will not be less than must have a minimum value of $1,600,0007,000,000. Failure to meet the requirements of this section will invalidate the tax abatement for the year this requirement was not satisfied. (d) That total inventory having a Certified Appraised Value of not less than $2,500,000 shall be located at the Improvements on or before January 1, 2013, and remain for the term of this Agreement. (e) That beginning January 1, 2013, and thereafter during the term of this Agreement, Owner shall occupy and/or lease the Improvements, which shall render employment of not less than twenty-five (25) new full-time employees and seventy-five (75) full-time employees retained from a relocated lessee and/or Owner. (f) That Owner shall provide County Tax Assessor/Collector with a copy of the Certificate of Occupancy for the Improvements on or before November 15, 2012. Owner’s failure to present a copy of the Certificate of Occupancy to County may result in a forfeiture of the tax abatement of tax year 2013. (g) That c. Owner has, as of the effective date of this Agreement, the financial resources to implement the above representations. (h) That d. Owner will participate in the continuing economic development process in Fort Bend County by becoming a Regular Member of the Greater Fort Bend Economic Development Council for a minimum period coinciding with the term of this Agreement. The fees for Owner’s Regular Membership are currently and shall remain $2,000 per annum for the duration of this Agreement. (i) e. OWNER SHALL BE RESPONSIBLE FOR NOTIFYING THE DISTRICT CAD OF THE ABATEMENT, INCLUDING FILING WITH THE DISTRICT CAD ANY APPLICATION OR OTHER FORMS NECESSARY TO QUALIFY FOR OR RECEIVE THE ABATEMENT GRANTED. (j) f. OWNER SHALL BE RESPONSIBLE FOR REQUESTING AN ASSIGNMENT OF THIS AGREEMENT IN THE EVENT THE REAL PROPERTY THE SUBJECT OF THIS AGREEMENT IS SOLD, TRANSFERRED SOLD OR ASSIGNED. FAILURE OF OWNER TO NOTIFY THE TAX ASSESSOR- COLLECTOR OF ANY ASSIGNMENT IS NOT EFFECTIVE UNTIL APPROVED SALE OF THE REAL PROPERTY THE SUBJECT OF THIS AGREEMENT SHALL RESULT IN WRITING BY COUNTYDEFAULT OF THIS AGREEMENT.

Responsibility of Owner. In consideration of receiving the tax abatement granted herein, Owner represents and agrees: (a) That construction of the Improvements will commence on or before November 1, 2011. (b) That construction a. Construction of the Improvements shall be completed on or before October December 31, 20122013. Owner shall provide Tax Assessor/Collector a certified statement evidencing a minimum of $1,600,000 14,000,000 in project costs with respect to the design and construction of the Improvements and Eligible Property within thirty sixty (3060) days after completion their completion. b. The combined certified appraised value of the Improvements to be constructed. (c) That the Certified Appraised Value of the Improvements and Eligible Property on January 1, 2013, and on 1 of each and every January 1 thereafter during the term of year that taxes are abated under this Agreement will not be less than must have a minimum value of $1,600,0007,000,000. Failure to meet the requirements of this section will invalidate the tax abatement for the year this requirement was not satisfied. (d) That total inventory having a Certified Appraised Value of not less than $2,500,000 shall be located at the Improvements on or before January 1, 2013, and remain for the term of this Agreement. (e) That beginning January 1, 2013, and thereafter during the term of this Agreement, Owner shall occupy and/or lease the Improvements, which shall render employment of not less than twenty-five (25) new full-time employees and seventy-five (75) full-time employees retained from a relocated lessee and/or Owner. (f) That Owner shall provide County Tax Assessor/Collector with a copy of the Certificate of Occupancy for the Improvements on or before November 15, 2012. Owner’s failure to present a copy of the Certificate of Occupancy to County may result in a forfeiture of the tax abatement of tax year 2013. (g) That c. Owner has, as of the effective date of this Agreement, the financial resources to implement the above representations. (h) That d. Owner will participate in the continuing economic development process in Fort Bend County by becoming a Regular Member of the Greater Fort Bend Economic Development Council for a minimum period coinciding with the term of this Agreement. The fees for Owner’s Regular Membership are currently and shall remain $2,000 per annum for the duration of this Agreement. (i) e. OWNER SHALL BE RESPONSIBLE FOR NOTIFYING THE DISTRICT OF THE ABATEMENT, INCLUDING FILING WITH THE DISTRICT ANY APPLICATION OR OTHER FORMS NECESSARY TO QUALIFY FOR OR RECEIVE THE ABATEMENT GRANTED. (j) f. OWNER SHALL BE RESPONSIBLE FOR REQUESTING AN ASSIGNMENT OF THIS AGREEMENT IN THE EVENT THE REAL PROPERTY THE SUBJECT OF THIS AGREEMENT IS SOLD, TRANSFERRED SOLD OR ASSIGNED. FAILURE OF OWNER TO NOTIFY THE TAX ASSESSOR- COLLECTOR OF ANY ASSIGNMENT IS NOT EFFECTIVE UNTIL APPROVED SALE OF THE REAL PROPERTY THE SUBJECT OF THIS AGREEMENT SHALL RESULT IN WRITING BY COUNTYDEFAULT OF THIS AGREEMENT.

Responsibility of Owner. In consideration of receiving the tax abatement granted herein, Owner represents and agrees: (a) a. That construction of the Improvements will commence on or before November 1, 2011without delay. (b) b. That construction of the Improvements shall be completed on or before October December 31, 2012. 2018, subject to further extension for force majeure as defined in Section 11 herein or unless otherwise agreed to in writing by the parties. c. That Owner shall provide the County’s Tax Assessor/Collector a certified statement evidencing a minimum of $1,600,000 20,000,000 in project costs with respect to the design, development and construction of the Improvements within thirty sixty (3060) days after completion of the Improvements to be constructedImprovements. (c) d. That Owner shall provide the County’s Tax Assessor/Collector with a copy of the Certificate of Occupancy for the Improvements on or before December 31, 2018, subject to further extension for force majeure as defined in Section 11 herein. Owner’s failure to timely present a copy of the Certificate of Occupancy to District may result in a forfeiture of the tax abatement of tax year 2018. e. That the Certified Appraised Value of the Improvements on January 1, 20132019, and on each and every January 1 thereafter that taxes are abated under this agreement’s provisions must have a minimum value of $20,000,000. Owner may from time to time during the term of this Agreement will not be less than $1,600,000install additional improvements, and modify, remove or replace improvements as Owner may determine in their discretion. Failure to meet the requirements of this section will invalidate the tax abatement for the year this requirement was not satisfied. (d) That total inventory having a Certified Appraised Value of not less than $2,500,000 shall be located at the Improvements on or before January 1, 2013, and remain for the term of this Agreement. (e) That beginning January 1, 2013, and thereafter during the term of this Agreement, Owner shall occupy and/or lease the Improvements, which shall render employment of not less than twenty-five (25) new full-time employees and seventy-five (75) full-time employees retained from a relocated lessee and/or Owner. (f) That Owner shall provide County Tax Assessor/Collector with a copy of the Certificate of Occupancy for the Improvements on or before November 15, 2012. Owner’s failure to present a copy of the Certificate of Occupancy to County may result in a forfeiture of the tax abatement of tax year 2013. (g) That Owner has, as of the effective date of this Agreement, the financial resources to implement the above representations. (h) That f. Owner will have the option to, but shall not be required to, participate in the continuing economic development process in Fort Bend County by becoming a Regular Trustee Member ($6,000/year dues) of the Greater Fort Bend Economic Development Council for a minimum period coinciding with the term of this Agreement. If Owner elects to become a member, Owner shall provide notice to Lessee. (i) g. OWNER SHALL BE RESPONSIBLE FOR NOTIFYING THE DISTRICT FBCAD OF THE ABATEMENT, INCLUDING FILING WITH THE DISTRICT FBCAD ANY APPLICATION OR OTHER FORMS NECESSARY TO QUALIFY FOR OR RECEIVE THE ABATEMENT GRANTED. (j) h. OWNER SHALL BE RESPONSIBLE FOR REQUESTING AN ASSIGNMENT OF THIS AGREEMENT IN THE EVENT THE REAL PROPERTY THE SUBJECT OF THIS AGREEMENT IS SOLD, TRANSFERRED OR ASSIGNED. EXCEPT AS OTHERWISE PROVIDED HEREIN, ANY ASSIGNMENT IS NOT EFFECTIVE UNTIL APPROVED IN WRITING BY COUNTY. i. That Owner has, as of the effective date of this Agreement, the financial resources to implement the above representations. j. That Owner shall ensure that taxes on all property owned by Owner in Fort Bent County are current. Delinquent taxes for any Fort Bend County property owned by Owner is a default of Owner’s obligations and will be grounds for termination regardless of whether the delinquent property is subject to an abatement, but subject to the notice and cure provision contained herein. k. Notwithstanding the foregoing, disputed taxes shall not be considered a default of Owner’s obligations and shall not be grounds for termination under this Agreement unless such the sole purpose of such dispute is to delay or otherwise hinder the default of this Agreement. Owner shall comply with all Texas laws for disputing taxes in order to avoid a default of Owner’s obligations under this Section.