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HomeMy WebLinkAboutO-1521-8-97ORDINANCE NO. 1521-8-97 ' AN ORDINANCE OF THE CITY OF ALIEN, COLLIN COUNTY, TEXAS, DESIGNATING A CERTAIN AREA AS A INDUSTRIAL REINVESTMENT ZONE; PROVIDING FOR THE ESTABLISHMENT OF AGREEMENTS WITHIN THE ZONE, AND OTHER MATTERS RELATING THERETO; PROVIDING FINDINGS OF FACT; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE FOR THE COMMENCEMENC OF THE REINVES IMINP ZONE AND THIS ORDINANCE WHEREAS, the City Council of the City of Allen, Texas, desires to promote the development of a certain contiguous geographic area within its jurisdiction by the creation of a Reinvestment Zone, as authorized in Chapter 312 of the Texas Tax Code (the "Code"); and, WHEREAS,a proposed Tax Abatement Agreement between the Cityof Allen, Texas, Inter -Commercial Business Systems, the County of Collin, Texas, and the Collin County Community College District has been presented to the City Council; and the City Council is of the opinion and finds that the terms and conditions thereof should be approved and that the Mayor should be authorized to execute the Agreement on behalf of the City of Allen; and WHEREAS, a hearing before the City Council was held at 7:30 p.m. on the 21st day of August, 1997, such date being not later than seven (7) days after the date of publication of the notice of such public hearing in a newspaper of general circulation in the City of Allen; and, WHEREAS, the City has called a public hearing and published notice of such public hearing, and has ' properly notified the proper officials of Collin County, Collin County Community College and the Allen Independent School District, as required by the Code; and, WHEREAS, at such hearing the City invited any interested person, or their representative, to appear and contend for or against the creation of the Reinvestment Zone, whether all or part of the territory, which is described by a metes and bounds description attached hereto as Exhibit "A" and depicted in the drawing attached hereto as Exhibit "B," should be included in such proposed Reinvestment Zone; and, WHEREAS, all owners of property located within the proposed Reinvestment zone and all other taxing units and other interested persons were given the opportunity at such public hearing to protest the creation of the proposed Reinvestment Zone or the inclusion of their property in such reinvestment zone; and, WHEREAS, all activities within the Reinvestment Zone will adhere to the guidelines defined in City of Allen Comprehensive Zoning Ordinance No. 1425-5-96, and its amendments; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ALLEN, TEXAS, THAT - SECTION 1: The City Council of the City of Allen, Texas, after conducting such hearing and having heard such evidence and testimony, has made the following findings and determinations based on the evidence and testimony presented to it: (a) That the public hearing on adoption of the Reinvestment Zone has been properly called, held and conducted and that notice of such hearing has been published as ' required by law. (b) That the City has jurisdiction to hold and conduct this public hearing on the creation of the proposed Reinvestment Zone pursuant to the Code. (c) That creation of the proposed zone with boundaries as described in Exhibits "A" and "B" will result in benefits to the City, its residents and property owners, and to the property, residents and property owners in the Reinvestment Zone. (d) That the Reinvestment Zone, as defined in Exhibits "A" and "B," meets the criteria for the creation of a Reinvestment Zone as set forth in the Code in that: (1) It is a contiguous geographic area located wholly within the corporate limits of the City. (2) The area will reasonably be likely, as a result of the designation, to contribute to the retention or expansion of primary employment or to attract major investment in the zone that would be a benefit to the property and that would contribute to the economic development of the City. (3) No part of the property in the Reinvestment Zone is owned or leased by a member of the governing body of the City of Allen or by a member of a zoning or planning board or commission of the City of Allen. (4) Improvements in the Reinvestment Zone will enhance significantly the value of all taxable real property in the Reinvestment Zone. SECTION 2 The City hereby creates a Reinvestment Zone over the area described by the description in Exhibit "A" attached hereto and depicted in a drawing attached hereto as Exhibit "B," and such Reinvestment Zone shall hereafter be identified as the Industrial Reinvestment Zone, No. 13, City of Allen, Texas (the "Zone"). SEC ION 3: The Mayor is hereby authorized to execute on behalf of the City of Allen the Tax Abatement Agreement between the City of Allen, Texas, Inter -Commercial Business Systems, the County of Collin, Texas, and the Collin County Community College District (a copy of which is attached ' hereto as Exhibit "C"), said agreement having been previously reviewed and approved by the City Council of the City of Allen. SECIION 4: Operation of the Zone shall commence on August 21, 1997, for a period of ten (10) years. SECTION S: A written agreement(s), as provided in the Act, with the owners of the property located within the Reinvestment Zone is hereby authorized for a period up to ten (10) years, and the written agreement shall provide an exemption from taxation of the increased value in the real and personal property in an amount of up to four hundred percent (400%) of the increased value over ten (10) years. SECTION 6: It is hereby declared to be the intention of the City Council that the sections, paragraphs, sentences, clauses, and phrases of this ordinance are sevemble; and if any phrase, clause, sentence or section of this ordinance shall be declared unconstitutional or invalid by any judgment or decree of a court of competent jurisdiction, such unconstitutionality or invalidity shall not affect any other remaining phrase, clause, sentence, paragraph or section of this ordinance; and the City Council hereby declares it would have passed the remaining portions even though it had known the affected parts would be held unconstitutional or invalid. DULY PASSED AND APPROVED BY THE CITY COUNCH.OFTHE CITY OF ALIEN, TEXAS, ON THE 21ST DAY OF AUGUST, 1997. APPROVED. � 'Stephen Terrell, MAYOR APPROVED AS TO FORM: �A\TTEST: HJT/a4i a J.�Ga-a'"--- A. Don Crowaer, CITY A11VRNEE'Y J Mo C n, CMC, SECRETARY OrdinanceNo. 1521-8-97 page 2 ' Exhibit A City of Allen Reinvestment Zone M 13 The general description of the Reinvestment Zone is as follows: A 6.162 acre parcel of land being a part of Lot 3R, Block 3 of the Replat of Lot 1, Block 3, Millennium Business Park, an Addition to the City of Allen as recorded in Cabinet J, Slide 231 of the plat records of Collin County, Texas, being out of the William Perrin Survey, Abstract Number 708, Collin County, Texas, and being more particularly described as follows: The POINT OF BEGINNING is the northeast comer of said Lot 3R, Block 3, being the southeast comer of Lot 2R, Block 3 of said Millennium Addition, and being in the west line of the Right of Way for the Southern Pacific Railroad; THENCE, South 21 degrees 55 minutes 51 seconds West, with the line common to said Lot 3R and said railroad a distance of 826.33 feet to a point being the southeast corner of the parcel herein described; THENCE, North 69 degrees 01 minutes 36 seconds West, crossing Lot 3R a distance of 236.91 feet to a point being the southwest corner of the parcel herein described, being on the east line of the Right of Way for Century Parkway: THENCE, North 04 degrees 36 minutes 49 seconds East, with the west line of said Lot 3, being the east line of Century Parkway a distance of 135.22 feet to a point of a tangent curve to the right; THENCE, with said curve line being common to Lot 3R and Century Parkway having a radius of 1,057.50 through a delta angel of 09 degrees 22 minutes 00 seconds, an arc distance of 172.88 feet, having a chord which bears North 09 degrees 17 minutes 48 seconds East, a distance of 172.69 feet to a point of tangent; THENCE, North 13 degrees 58 minutes 48 seconds East, continue with said common line a distance of 120.00 feet to a point of a tangent curve to the right THENCE, continue with said common line with said curve having a radius of 5,657.50 through a delta angle of 04 degrees 12 minute 50 seconds, an are distance of 416.10 feet, and having a chord which bears North 16 degrees 05 minutes 13 seconds East a distance of 416.01 feet to the northwest comer of Lot 3R, being the southwest corner of said Lot 2R and being on the east Right of Way line for Century Parkway; ' THENCE, South 68 degrees 04 minutes 09 seconds East, with the line common to Lot 3R and Lot 2R a distance of 373.86 feet to the POINT OF BEGINNING and containing 6.162 acres of land. Ordinance No. 1521-5-97 Page 1 Exhibit B Ordmaoce No. 1521-8-97 Exhibit C STATE OF TEXAS § § TAX ABATEMENT AGREEMENT COUNTY OF COLLIN § This Tax Abatement Agreement (the "AGREEMENT") is entered into by and among the City of Allen, Texas (the "CITY'), Inter -Commercial Business Systems, Inc. ("ICBS' ), Thomas M. Lacey ('LACEY"), the County of Collin and the Collin County Community College District (the "TAXING UNITS") acting by and through their respective authorized officers. WITNESSETH: WHEREAS, the City Council of the CITY, passed Ordinance, No. 1521-8-97 (the "ORDINANCE") establishing Industrial Reinvestment Zone No. 13 (the "ZONE' ), for commerciallmdustrial tax abatement, as authorized by the Property Redevelopment and Tax Abatement Act, Chapter 312 of the Texas TAX CODE, as amended (the "TAX CODE"); and WHEREAS, the CITY has adopted guidelines for tax abatement (the "TAX ABATEMENT GUIDELINES"); and WHEREAS, the TAX ABATEMENT GUIDELINES contain appropriate guidelines and criteria governing tax abatement agreements to be entered into by the CITY as contemplated by the TAX CODE; and WHEREAS, the CITY has adopted a resolution stating that it elects to be eligible to participate in tax abatement; and WHEREAS, in order to maintain and enhance the commercial and industrial economic and employment base of the Allen area, it is in the best interests of the taxpayers for the CITY to enter into this AGREEMENT; and WHEREAS, LACEY's improvements described herein will create permanent newjobs in the CITY; and WHEREAS, the City Council finds that the contemplated use of the PREMISES (hereinafter defined), the contemplated improvements to the PREMISES as set forth in this AGREEMENT, and the other terms hereof are consistent with encouraging development of the ZONE in accordance with the purposes for its creation and in compliance with the TAX ABATEMENT GUIDELINES, the ORDINANCE adopted by the CITY, the TAX CODE and all other applicable laws; and WHEREAS, the City Council finds that the improvements sought are feasible and practicable and would be of benefit to the land to be included in the ZONE and to the CITY and the TAXING ' UNITS after expiration of this AGREEMENT; and Tax Abatement Agreement - Page I ssr 1393 L WHEREAS, a copy of this AGREEMENT has been famished, in the manner prescribed by the TAX CODE, to the presiding officers of the governing bodies of each of the TAXING UNITS in which the PREMISES is located; and WHEREAS, the CITY desires to enter into an AGREEMENT with ICBS and LACEY the owners of Property within the ZONE for the abatement of taxes pursuant to Chapter 312 of the TAX CODE, as amended; NOW, THEREFORE, in consideration of the mutual benefits and promises contained herein and for good and other valuable consideration, the adequacy and receipt of which is hereby acknowledged, including the expansion of primary employment, the attraction of major investment in the ZONE, which contributes to the economic development of the CITY and the enhancement of the tax base with in the CITY, the parties agree as follows: GENERAL PROVISIONS 1. LACEY is the owner or under contract to purchase from the Allen Economic Development Corporation (the "AEDC") the real property described in Exhibit "A" attached hereto and made a part hereof for all purposes (the "PREMISES"), which PREMISES is located within the city limits of the CITY and within the ZONE. ICBS is or shall become the lessee of the PREMISES and is the owner of tangible personal property that will be located on the PREMISES. 2. The PREMISES is not an improvement project financed by tax increment bonds. 3. This AGREEMENT is entered into subject to the rights of the holders of outstanding bonds of the CITY. 4. The PREMISES is not owned or leased by any member of the Allen City Council, or any member of the Allen Planning and Zoning Commission, or any member of the governing body of any taxing units joining in or adopting this AGREEMENT. TAX ABATEMENT AUTHORIZED 5. This AGREEMENT is authorized by the TAX CODE, and in accordance with the TAX ABATEMENT GUIDELINES, and approved by resolution of the City Council of the CITY authorizing the execution of this AGREEMENT. 6. Subject to the terms and conditions of this AGREEMENT, the CITY hereby grants LACEY an abatement of ad valorem taxation on the PREMISES and grants to ICES an abatement of ad valorem taxation for the TANGIBLE PERSONAL PROPERTY (hereinafter defined) to be located on the PREMISES for a period of ten (10) years in accordance with the schedule described below. ' The actual percentage of taxes subject to abatement for each year of this AGREEMENT will apply Tax Abatement Agreement - Page 2 ssr 1393 ' only to that portion of the taxable value of the real property that exceeds the unimproved property's taxable value for the year in which this AGREEMENT is executed (BASE YEAR/1997). The tax abatement agreement for TANGIBLE PERSONAL PROPERTY may only apply to the personal property added to the PREMISES after this AGREEMENT is executed. n u Year Percentage of Abatement 1999 40% 2000 40% 2001 40% 2002 40% 2003 40% 2004 40% 2005 40% 2006 40% 2007 40% 2008 40% T The period of tax abatement herein authorized shall be ten (10) years, beginning on January 1, 1999 and continuing until December 31, 2008, unless otherwise amended by the parties pursuant to the TAX CODE. B. During the period of tax abatement herein authorized, ICBS and LACEY shall be subject to all City taxation not abated, including but not limited to, sales tax and ad valorem taxation on land to the extent not abated hereby. DEFINITIONS 9. Wherever used in this AGREEMENT, the following terms shall have the meanings ascribed to them: A The PREMISES shall mean the real property described in Exhibit W attached hereto and incorporated herein for all purposes including any improvements and personal property, excluding inventory, which is added to the property subsequent to the execution of this AGREEMENT, B. The IMPROVEMENTS shall mean the contemplated improvements to be located on the PREMISES and as further described herein, including but not limited to buildings and structures added to the property other than inventory. C. The TOTAL ASSESSED TAX VALUE shall mean the total assessed taxable value on January 1 of any tax year of the PREMISES and the Improvements. Tax Abatement Agreement - Page 3 SS11393 D. The BASE YEAR TAX VALUE shall mean the total unimproved property's assessed taxable value for the year in which the Tax Abatement Agreement is executed (1997). E. The FIRST YEAR OF THE TAX ABATEMENT shall be 1999, unless otherwise agreed to by the parties. F. CERTIFIED APPRAISED VALUE means the appraised value of the PREMISES as certified by the Collin County Appraisal District as of January 1 of each year in which the tax abatement is granted. G. TANGIBLE PERSONAL PROPERTY shall mean tangible personal property, equipment and fixtures other than inventory or supplies added to the PREMISES subsequent to the execution of this AGREEMENT. IMPROVEMENTS 10. LACEY owns or is under contract to purchase from the AEDC, the real property described in Exhibit "A", and agrees to construct or cause to be constructed one office/manufacturing facility of approximately 90,000 square feet (and other ancillary facilities such as reasonably required parlting and landscaping more fully described in the submittals filed by LACEY with the CITY from time to time in order to obtain a building permit) (the "IMPROVEMENTS"). ICBS agrees tolocateTANGIBLE PERSONAL PROPERTY on the PREMISES. The combined value of the IMPROVEMENTS and the TANGIBLE PERSONAL PROPERTY (including inventory and supplies) to be added to the PREMISES should be at least Five Million Dollars ($5,000,000) not including the land. Nothing in this AGREEMENT shall obligate LACEY to construct the IMPROVEMENTS on the PREMISES, and/or ICBS to locate TANGIBLE PERSONAL PROPERTY on the PREMISES, but said actions are a condition precedent upon initiation of tax abatement pursuant to this AGREEMENT. Subject to the terms and conditions of this AGREEMENT, ICBS and LACEY are entitled to an abatement of ad valorem taxation on real property and the personal property in accordance with Paragraph 6, conditioned upon LACEY and ICBS, thew successors or assigns, diligently complying with the terms of this AGREEMENT. CONSTRUCTION OF IMPROVEMENTS 11. As a condition precedent to the initiation of tax abatement pursuant to this AGREEMENT, LACEY will diligently and faithfully, in good and worlmtan&e manner, pursue the completion of the contemplated Improvements on or before August 31, 1998, as good and valuable consideration for this AGREEMENT, and that all construction of the IMPROVEMENTS will be in substantial accordance with all applicable state and local laws, codes, and regulations, (or valid waiver thereoi); provided, that LACEY shall have such additional time to complete and maintain the IMPROVEMENTS as may be required in the event of "Force Majeure," if LACEY is diligently and faithfully pursuing completion of the same. For this purpose, "Force Majeure" shall mean any Tax Abatement Agreement - Page 4 SSI1191 contingency or cause beyond the reasonable control of LACEY and/or ICBS, as applicable including, without limitation, acts of God or the public enemy, war, riot, civil commotion, insurrection, adverse weather, government or de facto governmental action or inaction (unless caused by acts or omissions of LACEY and/or ICBS, as applicable), fires, explosions or floods, strikes, slowdowns or work stoppages or delays by AEDC or the CITY. 12. Subject to events of Force Majeure, LACEY and ICBS agree to maintain the PREMISES in substantial accordance with all applicable state and local laws, codes, and regulations for a period of not less than ten (10) years after the date a certificate of occupancy is issued for the IMPROVEMENTS or until the CITY and the TAXING UNITS have received ad valorem taxes from the PREMISES in an amount equal to all the ad valorem taxes abated herein whichever occurs first. 13. The CITY, its agents and employees shall have the right of access to the PREMISES during construction to inspect the Improvements at reasonable times during normal business hours and with reasonable notice to ICBS and LACEY, and in accordance with their visitor access and security policies, in order to insure that the construction is in accordance with this AGREEMENT and all applicable state and local laws and regulations (or valid waiver thereof). GENERAL REQUIREMENTS ' 14. Construction plans for the IMPROVEMENTS constructed on the PREMISES will be Sled with the CITY, which shall be deemed to be incorporated by reference herein and made a part hereof for all purposes. 15. After completion of the IMPROVEMENTS, (with completion of the IMPROVEMENTS to be deemed to have occurred upon the issuance of a Certificate of Occupancy for the IMPROVEMENTS), LACEY shall certify in writing to the CITY the construction cost of the IMPROVEMENTS Cmcluding, but not limited to, all architectural and engineering fees, loan fees and other normal and customary soft costs). ICBS shall certify in writing to the CITY the initial capital investment value of TANGIBLE PERSONAL PROPERTY located on the PREMISES as of August 31, 1998. ICBS and LACEY shall each annually certify to the CITY that they are in substantial compliance with each tens of the AGREEMENT. 16. The PREMISES constructed thereon at all times shall be used in the manner () that is consistent with the City's Comprehensive Zoning Ordinance, as amended, and (il) that, during the period taxes are abated hereunder, is consistent with the general purposes of encouraging development or redevelopment within the ZONE. 17. Subject to events of Force Majeure, ICBS agrees to maintain its operations and occupy the PREMISES for a period of not less than ten (10) years commencing on the date a certificate of occupancy is issued for the IMPROVEMENTS. ICBS also agrees to employ at least an average of ' one -hundred (100) persons annually at the PREMISES during the term of this AGREEMENT. Tax Abatement Agreement - Page 5 Ss11393 18. ICBS and LACEY agree to the extent allowed by law and to the extent reasonably and L economically and practicable to designate the CITY as the point of sale for TANGIBLE PERSONAL PROPERTY purchased in connection with the construction of the IMPROVEMENTS by LACEY provided its prices, qualities and benefits for the applicable materials and/or goods are competitive and can be timely delivered. In this regard, LACEY shall cause such contractors or other vendors to provide ICBS-and LACEY as the case may be and the AEDC, a certificate setting forth all taxable sales of construction materials, equipment or other terms used in the development of the PROPERTY, together with such supporting documentation as the AEDC may reasonably request, including without limitation the tax statements and reports submitted to the Texas Comptroller accompanying remittances of sales tax collection. In the event such contractors or vendors fail to provide the aforesaid certificate and supporting documentation, ICBS and LACEY as the case may be, will be obligated to provide AEDC with such certificate and supporting documentation. 19. LACEY agrees to provide to ICBS or other applicable tenants, the benefit of the abatement of real property taxes granted herein. LACEY shag upon written request, provide the CITY with satisfactory evidence that the benefits of this AGREEMENT have been provided to ICBS or other applicable tenants of the PREMISES. 20. ICBS agrees to lease and occupy the PREMISES for a period not less than ten (10) years commencing on the date a certificate of occupancy is issued for the IMPROVEMENTS. 21. ICBS agrees to cause to locate TANGIBLE PERSONAL PROPERTY on the PREMISES during the term of this AGREEMENT so that the combined taxable value of the IMPROVEMENTS and the TANGIBLE PERSONAL PROPERTY will be approximately Five Million Dollars ($5,000,000) by August 31, 1998. DEFAULT: RECAPTURE OF TAX REVENUE 22. In the event that ICBS or LACEY fail in performance of any of the following conditions: (i) completion of the IMPROVEMENTS in accordance with this AGREEMENT or in accordance with applicable State or local laws, codes or regulations; (u) have any delinquent ad valorem or State sales taxes owed to the CITY (provided such party retains the right to timely and properly protest and/or contest such taxes or assessment and the tax abatement will be applied to the amount of taxes finally determined to be due as the result of any such protest or contest); or (iii) breaches any of the temts and conditions of this AGREEMENT, then such "DEFAULTING PARTY", after the expiration of the notice and cure periods described herein, shall be in default of this AGREEMENT. As liquidated damages in the event of such default, the "DEFAULTING PARTY" shall, within thirty (30) days after demand, pay to the CITY all taxes which otherwise would have been paid to the CITY without benefit of a tax abatement with interest at the statutory rate for delinquent taxes as determined by Section 33.01 of the TAX CODE, as amended, but without penalty. The parties acknowledge that actual damages in the event of default termination would be speculative and difficult to determine. The ' parties further agree that any property tax revenue lost, including interest as a_ result of this Tax Abatement Agreement - Page 6 SSI1393 AGREEMENT, shall be recoverable against such "DEFAULTING PARTY" and shall constitute a tax hen against the property the subject of the AGREEMENT owned by the "DEFAULTING PARTY", and shall become due, owing and shall be paid to the CITY within thirty (30) days after termination. 23. Upon breach by ICBS or LACEY of any obligations under this AGREEMENT, the CITY shall notify such "DEFAULTING PARTY" in writing. The "DEFAULTING PARTY" shall have thirty (30) days from receipt of the notice in which to cure any such default. If the default cannot reasonably be cured within a thirty (30) day period, and such "DEFAULTING PARTY" commences action reasonably calculated to cure such default within said thirty (30) day period and continues thereafter to diligently and continuously prosecute the same to conclusion, such "DEFAULTING PARTY" shall have. up to, but not exceeding, an additional sixty (60) days in which to effectuate the cure of such breach. If the default cannot be reasonably cured within such period, the CITY may extend the period in which the violation must be cured. 24. If the "DEFAULTING PARTY" fails to cure the default within the time provided herein or, as such time period may be extended, then the CITY at its sole option shall have the right to terminate this AGREEMENT by written notice to such "DEFAULTING PARTY" but only as to such "DEFAULTING PARTY.". 25. Upon termination of this AGREEMENT by CITY, all tax revenue abated as a result of this AGREEMENT shall become a debt to the CITY as liquidated damages, and shall become due and payable not later than thirty (30) days after a notice of termination is made. The CITY shall have all remedies for the collection of the recaptured tax revenues provided generally in the TAX CODE for the collection of delinquent property tax. The CITY at its sole discretion has the option to provide a repayment schedule. The computation of tax revenue abated for the purposes of the AGREEMENT shall be based upon the full taxable value without tax abatement for the years in which tax abatement hereunder was received by such "DEFAULTING PARTY" with respect to the PREMISES and/or the TANGIBLE PERSONAL PROPERTY as the case may be, as determined by the Collin County Appraisal District, multiplied by the tax rate of the years in question, as calculated by the City Tax Assessor -Collector. Penalties as provided for delinquent taxes shall accrue after expiration of the thirty (30) day payment period. ANNUAL APPLICATION FOR TAX EXEMPTION 26. It shall be the responsibility of ICBS and LACEY, pursuant to the TAX CODE, to file an annual exemption application form with the Chief Appraiser for each appraisal district in which the eligible taxable property has situs. A copy of each exemption application shall be submitted to the CITY. ICBS shall annually render the value of the TANGIBLE PERSONAL PROPERTY located on the PREMISES to each appraisal district in which the eligible taxable property has situs and provide a copy of the same to the CITY. Tax Abatement Agreement - Page 7 SS11393 I I SUCCESSORS AND ASSIGNS 27. This AGREEMENT shall be binding on and inure to the benefit of the parties to it and their respective heirs, executors, administrators, legal representatives, successors, and assigns. This AGREEMENT may be assigned with the consent of the CITY. NOTICE 28. All notices required by this AGREEMENT shall be addressed to the following, or such other party or address as the parties designate in writing, by certified mail, postage prepaid, return receipt requested, or by hand delivery. Any notice required or perrnitted to be delivered hereunder shall be deemed received when deposited in an official depository under the regular care and custody of the United States Postal Service and sent by United States Mail, postage prepaid, certified mail, return receipt requested, addressed to the party at the address set forth below. No notice of change of address or addressee shall be effective until ten (10) days following deposit of same in an official depository under the regular care and custody ofthe United States Postal Service as aforesaid. 1. CITY OF ALLEN: Mayor and City Manager City of Allen One Butler Circle Allen, Texas 75013 2. ICBS: Inter -Commercial Business Systems, Inc. Thomas M Lacey President 2454 Merritt Ciarland, Texas 75041 3. LACEY: Thomas M. Lacey 2454 Merritt Garland, Texas 75041 4. COLLIN COUNTY: County of Collin do County Judge 210 S. McDonald Street McKinney, Texas 75069 5. COLLIN CCD: Collin County Community College District do John H Anthony, Ph.D. 2200 W. University McKinney, Texas 75070 ' Tax Abatement Agreement - Page 8 SS11393 AUTHORIZATIONS ' 29. This AGREEMENT was authorized by resolution of the City Council authorizing the Mayor to execute this AGREEMENT on behalf of the CITY. 30. This AGREEMENT was authorized by the minutes of the Commissioners Court of Collin County, Texas, at a meeting whereupon it was duly determined that the County Judge would execute the AGREEMENT on behalf of Collin County, Texas. 31. This AGREEMENT was authorized by the Board Minutes of the Board of Trustees of Collin County Community College District at a Board Meeting whereupon it was duly determined that the Chairman would execute the AGREEMENT on behalf of Collin County Community College District. SEVERABILITY 32. In the event any section, subsection, paragraph, sentence, phrase or word herein is held invalid, illegal or unconstitutional, the balance of this AGREEMENT, shall be enforceable and shall be enforced as if the parties intended at all times to delete said invalid section, subsection, paragraph, sentence, phrase or word; and such invalid, illegal, unconstitutional or unenforceable section, subsection, paragraph, sentence, phrase or word shall be substituted by a section, subsection, paragraph, sentence, phrase or word as near in substance thereto as may be valid, legal, constitutional and enforceable. APPLICABLE LAW 33. This AGREEMENT shall be construed under the laws of the State of Texas. Venue for any action under this AGREEMENT shall be the State District Court of Collin County, Texas. This AGREEMENT is performable in Collin County, Texas. COUNTERPARTS 34.. This AGREEMENT may be executed in any number of counterparts, each of which shall be deemed an original and constitute one and the same instrument. ENTIRE AGREEMENT 35, This AGREEMENT embodies the complete agreement of the parties hereto, superseding all oral or written previous and contemporary agreements between the parties and relating to the matters in this AGREEMENT, and except as otherwise provided herein cannot be modified without written agreement of the parties to be attached to and made a part of this AGREEMENT. ITax Abatement Agreement - Page 9 SS 11 r9t 36. The provisions of this AGREEMENT are hereby declared covenants running with the PREMISES and are fully binding on all successors, heirs, and assigns of LACEY who acquire any right, title, or interest in or to the PREMISES or any part thereof. Any person who acquires any right, title, or interest in or to the PREMISES, or any part hereof, thereby agrees and covenants to abide by and fully perform the provisions of this AGREEMENT with respect to the right, title or interest in such PREMISES. OF AGREEMENT 37. A certified copy of this AGREEMENT shall be recorded in the Deed Records of Collin County, Texas. INCORPORATION OF RECITALS 38. The determinations recited and declared in the preambles to this AGREEMENT are hereby incorporated herein as part of this AGREEMENT. 39. All exhibits to this AGREEMENT are incorporated herein by reference for all purposes wherever reference is made to the same. MISCELLANEOUS 40. This AGREEMENT is expressly contingent upon LACEY's purchase of the real property described in Exhibit' A" from the AFDC. EXECUTED in duplicate originals this the2L day of 47-77-- . 1997. CITY OF ALLEN, TEXAS STEPHEN TERRFI i , MAYOR ATTEST: Fax Abatement Agreement - Page 10 SS11393 ' EXECUTED in duplicate originals this the 2t? day of `J�r 1997. IN�FER-COMMERCIAL BUSINESS SYSTEMS INC. By: THOMAS LACEY PRESIDENT EXECUTED in duplicate originals this the 2=l day of a � 1997. THOMAS M. LAACCEE/YY BY: THOMAS M. LACEY EXECUTED in duplicate originals this the "�i day oft\,, v, j� 1997. COUNTY OF IN By ' RONF 'S, OUNTYJUDGE EXECUTED in duplicate originals this the ibiC day of, „y,. 1997. COUNTY COMMUNITY COLLEGE M 3 Tax Abatement Agreement - Page I1 SS11393 STATE OF TEXAS COUNTY OF COLLIN MAYOR'S ACKNOWLEDGMENT Y 3 BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day personally appeared Stephen Terrell, Mayor of the City of Allen, Texas, a municipal corporation, (mown to me to be the person and officer whose name is subscribed to the foregoing instrument and acknowledged to me that the same was the act of the said City of Allen, Texas, a municipal corporation, that he was duly authorized to perform the same by appropriate resolution of the City Council of the City of Allen, and that he executed the same as the act of said City for the purpose and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this the -2A 5+ day of Ckkdy.i .1997. Notary PubGc,�tate of � My Commission Expires: wi SHELLEY B. GEORGE }* NOTARY PUBLIC State of Texas N.,,Ct Comm. Ezp. 03-202001 ' Tax Abatement Agreement - Page 12 ss11393 I ICBS' ACKNOWLEDGMENT STATE OF TEXAS § § COUNTY OF COLLIN § BEFORE ME, the undersigned authority a Notary Public in and for the State of Texas, on this day personally appeared Thomas Lacey being the President of Inter -Commercial Business Systems, Inc. known to me to be the person and officer whose name is subscribed to the foregoing instrument and acknowledged to me that the same was the act of the said corporation, and that he executed the same as the act of said corporation for the purpose and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this the c2 S day of Q 1997. My Commission Expires: `� O Notary L. TOTTY YOUNT NOTARY PUBLIC State of Texas Comm. Exp. 02-27-2000 Tax Abatement Agreement - Page 13 SS11393 11 LACEY'S ACENOWLEDGMENT STATE OF TEXAS § COUNTY OF COLLIN § BEFORE ME, the undersigned authority a Notary Public in and for the State of Texas, on this day personally appeared Thomas M Lacey, (mown to me to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that the same was the act of the said individual, and that he executed the same for the purpose and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this the 0? .P day of DCAI tc-•-a.... , 1997. My Commission Expires: Tax Abatement Agreement - Page 14 L. TOTTY MOUNT *>,* NOTARY PUBLIC State of Texas "i or+°" Comm. Exp. 02-27-2000 COUNTY'S ACKNOWLEDGMENT STATE OF TEXAS § § COUNTY OF COLLIN § BEFORE ME, the undersigned authority a Notary Public in and for the State of Texas, on this day personally appeared Ron Harris being the County Judge of County of Collin ]mown to me to be the person and officer whose name is subscribed to the foregoing instrument and acknowledged to me that the same was the act of the said County, and that he executed the same as the act of said County for the purpose and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this the'��` day of My Commission Expires: ,3/31 Acl Notary Public, Sta� x.. m,,ER Y M. BHRD @TATE OF TEXAS "'4 My Camm. Exp 033159 Tax Abatement Agreement - Page 15 S811393 iSTATE OF TEXAS COLLEGE DISTRICPS ACKNOWLEDGMENT COUNTY OF COLLIN § BEFORE ME, the undersigned authority a Notary Public in and for the State of Texas, on this day personally appeared Carey Cox being the Chairman of Collin County Community College District (mown to me to be the person and officer whose name is subscribed to the foregoing instrument and acknowledged to me that the same was the act of the said corporation, and that he executed the same as the act of said corporation for the purpose and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this the /l,,,4' day of No bG tate of Texas My Commission Expires: /- 3/-9® Tax Abatement Agreement - Page 16 SS11393