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HomeMy WebLinkAboutResolution - 2005-R0228 - Tax Abatement Agreement - Bemove Ltd. And Verticle Turbine Specialists Inc. - 06_09_2005Resolution No. 2005-A022$ June 9, 2005 Item 21 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to execute for and on behalf of the City of Lubbock a Tax Abatement Agreement with BeMove, Ltd. and Vertical Turbine Specialists, Inc. and all related documents. Said Agreement is attached hereto and incorporated in this Resolution as if fully set forth herein and shall be included in the minutes of the Council. Passed by the City Council this 9th day of , June ,l , 2005. MAYOR ATTEST: P LQ-"C� --e '0� Reb ca Garza, City Secretary APPROVED UTOICONTENT: Rob Allis , irec Business Development APPROVED AS TO FORM: Linda L. Chamales, Senior Attorney Office Practice Section LC: cityatt / Linda / Res -Tax Abatement-VTS May 26, 2005 Resolution No. 2005->E0228 CONTRACT NO. AGREEMENT STATE OF TEXAS § COUNTY OF LUBBOCK § 00006 109 This Agreement made this 9th day of June , 2005, by and between the City of Lubbock, Texas, a home rule municipality of the State of Texas (hereinafter called "City"), BeMove, Ltd., a Texas limited partnership (hereinafter called "BeMove") and Vertical Turbine Specialists, Inc. (hereinafter called "VTS"); WITNESSETH: WHEREAS, BeMove is the owner of real property located at 1802 E. 501h Street which is further described as Tract A, B, & C Breedlove Addition to the City of Lubbock, Texas; and WHEREAS, on November 29, 2004, VTS entered into a one hundred and eighty month lease with BeMove for a portion of the property and one of the facilities at 1802 E. 50`h Street, Lubbock, Texas, a copy of which is attached hereto as Exhibit "A" and incorporated in this agreement as if fully set forth herein. The portion of the property and facility leased by VTS is described as 1802 E. 501h Street, the west four hundred and forty feet of Tract C, Breedlove .Addition to the City of Lubbock, Texas which is further described in Exhibit `B", and made a part of this agreement for all purposes; and WHEREAS, City did receive from VTS on the 10`h day of December an application for tax abatement for improvements to real property and tangible personal property at 1802 E. 501h Street , Lubbock, Texas, which is further described in Exhibit "B"; and WHEREAS, upon review of the above application it was determined that the facility and real property is located in the Lubbock 2000 South Enterprise Zone designated by the City in Ordinance No. 2000-00032 covering the above described property; and WHEREAS, the Guidelines and Criteria Governing Tax Abatement For Selected Taxing Units Contained Within Lubbock County was heretofore adopted by Resolution No. 2003-RO370 of the City Council of the City of Lubbock, and amended by Resolution No. 2004-R0593. A copy of the amended Guidelines and Criteria Governing Tax Abatement for Selected Taxing Units Within Lubbock County is attached as Exhibit "C" and incorporated herein as if fully set forth; and AGREEMENT - VERTICAL TURBINE SPECIALISTS, INC. PAGE 1 WHEREAS, the City did comply with all the requirements set forth in V.T.C.A., Tax Code, Section 312.201; and WHEREAS, the City did comply with all the criteria and guidelines as set forth in the Guidelines and Criteria Governing Tax Abatement for Selected Taxing Units Contained Within Lubbock County, said guidelines having been adopted by Resolution No. 2003-R0370 of the City on September 18, 2003, and amended by Resolution No. 2004-R0593 on December 16, 2004; and WHEREAS, the City did pass Ordinance No. 2000-00032 creating the Lubbock 2000 South Enterprise Zone for commercial and industrial tax abatement, said zone including the area which is described in the attached Exhibit `B"; and WHEREAS, V.A.T.C., Tax Code, Sec. 312.2011 provides that designation as an enterprise zone constitutes designation as a reinvestment zone without further action; and WHEREAS, the application received by City from VTS is an application for the modernization of an existing facility owned by Behove and leased to VTS; and WHEREAS, V.A.T.C., Tax Code, Sec. 312.002 specifically states that such a purpose is to be included in the guidelines for tax abatement and to be eligible for such treatment; and WHEREAS, Section IV of the Guidelines and Criteria governing Tax Abatement for Selected Taxing Units Contained Within Lubbock County adopted by the City Council by Resolution No. 2003-R0370, and amended by Resolution No. 2004-R0593, does recognize modernization of an existing facility as being eligible for tax abatement status; and WHEREAS, the City Council finds that although the project is not included as a target industry in the guidelines, it has the potential of generating additional significant economic development opportunities to Lubbock; and WHEREAS, the City Council does hereby find that all of the Guidelines and Criteria Governing Tax Abatement, as adopted by Resolution No. 2003-R0370, and amended by Resolution No. 2004-R0593, have been met by VTS; and WHEREAS, the location of the facility and surrounding real property, which are to be the subject matter of this Agreement, are attached hereto as Exhibit "B" and made a part of this Agreement for all purposes; and NOW THEREFORE, for and in consideration of the premises and of the mutual terms, covenants and conditions herein contained the City, VTS, and BeMove do hereby agree as follows: AGREEMENT -VERTICAL TURBINE SPECIALISTS, INC. PAGE 2 SECTION 1. Term. This Agreement shall remain in force and effect for a period of five (5) years from January 1 of the tax year after the required improvements are substantially completed and shall expire and be of no further force and effect after said date. SECTION 2. Base Year. The base year applicable to real property, which is the subject of this Agreement, shall be 2005, and the assessed value of the real property shall be the assessed value applicable to such property for said year. SECTION 3. Base Year Taxes. The taxes upon the real property shall be paid in accordance with the assessed value of such property for the base year. Base year taxes upon the real property are thus not abated. SECTION 4. Abatement of Increase in Base Year Tax. In accordance with V.A.T.C., Tax Code, Section 312.204 real property taxes applicable to the real property subject to this Agreement shall be abated only to the extent said value for any given year within the term of this Agreement exceeds the base year taxes hereinabove set forth. SECTION 5. Prope Ineligible for Tax Abatement. The property described and set forth in Section IV(6) of the Guidelines and Criteria Governing Tax Abatement for selected taxing units contained within Lubbock County and heretofore_ adopted by the City Council by Resolution No. 2003-R0370, amended by Resolution No. 2004-RO593 is incorporated by reference herein as if fully set out in this Agreement and fully describes the property ineligible for tax abatement. SECTION 6. Exemption from Tax. The City covenants and agrees to exempt from taxation, in accordance with Section 4 above, the following properties: (a) All proposed new improvements to be placed upon the property which is described in Exhibit `B". (b) All eligible tangible personal property, owned by VTS, placed in or upon the property set forth in Exhibit "B". (c) It is further understood that all items affixed to the new improvements placed upon the real property identified in Exhibit "B", including machinery and equipment shall be considered part of the real property improvement and taxes thereon shall be abated in accordance with the provisions of subparagraph (a) above set forth. SECTION 7. Job Creation Qualifications. It is hereby found by the City that VTS will create and retain 65 new full-time permanent positions by June 2005 and will create and retain an additional 20 new full-time permanent positions within three years of the date of execution of this contract to qualify for tax abatement, as set forth in Section AGREEMENT- VERTICAL TURBINE SPECIALISTS, INC. PAGE 3 IV(3)(a) of the amended Guidelines and Criteria Governing Tax Abatement for selected taxing units contained within Lubbock County (Exhibit "C") on the property described in Exhibit `B". A description of the number and location of all proposed jobs is attached in VTS' application, Exhibit "D" and incorporated herein as if fully set forth. SECTION 8. Value of Improvements. In accordance with V.A.T.C., Tax Code, Section 312.204(a), which requires the Owner or the Owner of the Leasehold Interest of the property to make specific improvements or repairs to the property in order to be eligible for tax abatement, VTS will expend four hundred and ten thousand dollars ($410,000) dollars and BeMove will expend two hundred and sixty-six thousand dollars ($266,000) for the modernization of the existing facility and VTS will add one million forty-six thousand four hundred and seventy dollars ($1,046,470) in new value for tangible personal property to be located within the enterprise zone created by Ordinance No. 2000-00032. SECTION 9. City Access to Property. VTS and BeMove covenants and agrees that City shall have access to the property and employment records, which are the subject matter of this Agreement, upon reasonable notice and during normal business hours, and that municipal employees shall be able to inspect the property and employment records to insure compliance with the terms and conditions of VTS' application for tax abatement, attached as Exhibit "D", and this Agreement. SECTION 10. Portion of Tax Abated. City agrees, during the term of this Agreement, to abate taxes on eligible property according to the following schedule. Year 1: 100% Year 2: 80% Year 3: 60% Year 4: 40% Year 5: 20% SECTION 11. Commencement Date. This Agreement shall commence January 1 of the tax year after the required improvements are substantially completed and shall expire five (5) years after such date. SECTION 12. Type of Improvements. VTS proposes to renovate an existing structure as described in Exhibit "D VTS further states that the proposed improvements to the property above mentioned shall commence on the 1st day of Eebruary, 2005, and shall be completed within approximately three (3) months from said date. VTS may request an extension of the above date from City in the event circumstances beyond the control of VTS necessitates additional time for completion of such improvements and such consent shall not unreasonably be withheld. VTS shall provide a copy of the certificate of occupancy or other proof of completion within ten days of completion of improvements. AGREEMENT -VERTICAL TURBINE SPECIALISTS, INC. PAGE 4 SECTION 13. Drawings of Improvements. VTS shall furnish City with one set of as built plans and drawings of the improvements to be made pursuant to the terms of this Agreement. SECTION 14. Limitation on Use. VTS and BeMove agrees to limit the use of the property set forth in Exhibit "B" to commercial and/or industrial uses as those terms are defined in the zoning ordinances of the City of Lubbock and to limit the uses of the property to uses consistent with the general purpose of encouraging development of the enterprise zone during the term of this agreement. SECTION 15. Electricity Provider. VTS agrees to utilize Lubbock Power & Light (LP&L) for electrical services for the term of the tax abatement. If VTS chooses to utilize a different Power Company, this contract shall be terminated. SECTION 16. Recapture. VTS and BeMove agrees to be bound by and comply with all the terms and provisions for recapture of abated taxes in the event of default by VTS and BeMove pursuant to law and as set forth in Guidelines and Criteria for Tax Abatement adopted by Resolution No. 2003-R0370 of the City Council of the City of Lubbock and amended by Resolution No. 2004-R0593. SECTION 17. Certification. VTS and BeMove agrees to certify annually in writing to the governing body of each taxing unit that the owner and owner of the leasehold interest is in compliance with the terms of the Agreement. SECTION 18. Compliance. The City may cancel or modify this Agreement if VTS and BeMove fail to comply with the Agreement. SECTION 19. Notices. Notices required to be given by this Agreement shall be mailed, certified mail return receipt requested, to the following addresses: CITY OF LUBBOCK VERTICAL TURBINE SPECIALISTS, INC. City Manager Douglas B. Allen P.O. Box 2000 1802 E. 501h Street, Suite 106 Lubbock, Texas 79457 Lubbock, TX 79404 BeMove, Ltd. Douglas B. Allen 1802 E. 50`h Street, Suite 106 Lubbock, TX 79404 AGREEMENT - VERTICAL TURBINE SPECIALISTS, INC. PAGE 5 SECTION 20. Effective Date. Notwithstanding anything contained herein to the contrary, this Agreement shall not be effective until such time as it has been finally passed and approved. EXECUTED this 9th day of June , 2005. VERTICAL TURBINE SPECIALISTS, INIaj' DOUGLAS B. ALLEN PRESIDENT B OVE, LTD A-- DOUGLAS B. ALLEN MANAGING DIRECTOR Tax Abatement Agmt-VTS May 23, 2005 CITY A Mu MARC ATTEST: GAL, MAYOR P�"� . Y,%-- Reb cca Garza City Secretary APP S TQ CONTENT: Rob Alli Directo of Business Development APPROVED AS TO FORM: Linda L. Chamales, Senior Attorney Office Practice Section AGREEMENT -VERTICAL TURBINE SPECIALISTS, INC. PAGE 6 ' EXHIBIT "A" LEASE AGREEMENT (Multi -Tenant Property) BETWEEN BEMOVE, LTD. (LANDLORD) AND VERTICAL TURBINE SPECIALISTS, INC. (TENANT) RELATING TO 1802 East 50th Street (portion) Lubbock, Texas (LEASED PREMISES) FUNDAMENTAL LEASE PROVISIONS ARTICLE I ........................ 1.01. Fundamental Lease Provisions ................................................... 1 1.02. Definitions ........................................................... .. 1 ARTICLEIt ................................................................................ 2 2.01. Demise of Leased Premises .................................................... 2 ARTICLE[it ............................................................................... 2 3.01. Primary Term ....... :......................................................... 2 ARTICLE IV............................................................................... 2 4.01. Basic Rent................................................................... 2 4.02. Additional Tenant Expense ...................................................... 2 4.03. Additional Rent ............................................................... 2 4.04. Late Penalty ................................................................ 2 4.05. Place of Rent Payment ................... I...................................... 3 ARTICLEV................................................................................ 3 5.01. Use......................................................................... 3 5.02. Tenant's Responsibility Regarding Hazardous Substances .............................. 3 ARTICLEVI............................................................................... 4 6.01. Taxes and Assessments......................................................... 4 6.02. Insurance.................................................................... 4 ARTICLEVII.............................................................................. 5 7.01. Maintenance................................................................. 5 7.02. Utility Services ......:........................................................ 5 7.03. Alterations, Additions and Improvements ........................................... 5 7.04. Equipment and Fixtures......................................................... 5 7.05. Signs ..........................I.... 6 7.06. Condition of Property; Disclaimer of Warranties ..................................... 6 7.07. Destruction or Damage......................................................... 6 ARTICLE Vill.................................................................I............ 6 8.01. Default by Landlord........................................................... 6 3.02. Default by Tenant......:................................................... 6 9.03. Remedies of Landlord.......................................................... 7 9.04. Tenant's Personal Property; Contractual Security Interest .............................. 7 ARTICLEIX .............................................................................. 8 9.01.Indemnity .................................................................... 8 9.02. Assignment and Subletting ............ ................................. :........ 8 9.03. Inspections................................................................... 8 9.04. Condemnation................................................................ 8 9.05. Subordination of Leasc; Estoppel Certificates ....................................... 9 9.06. Surrender.................................................................... 9 9.07. Holding Overby Tenant........................................................ 9 9.08. Notices and Addresses.......................................................... 9 9.09. Parties Bound ............................................................. 9 9.10. Applicable Law............................................................... 9 9.11. Legal Construction............................................................ 9 9.12. Prior Agreements Superseded.................................................... 9 9.13. Amendment.................................................................. 9 9,14. Waiver of Default............................................................. 9 9.15. Attorney's Fees............................................................... 9 , PART I. FUNDAMENTAL LEASE PROVISIONS EXECUTION DATE: November � 2004 LANDLORD: Name: BEMOVE, LTD., a Texas limited partnership Address: 5219 City Bank Parkway, Lubbock, Texas 79407 TENANT: Name: VERTICAL TURBINE SPECIALISTS, INC. Address: 1012 East Wayion Jennings Blvd., Littlefield, Texas 79339-4160 LEASED PREMISES: A portion of the real property described in Exhibit "A" attached hereto and made a part hereof for all purposes, as further outlined on the site plan ofsuch property attached hereto as Exhibit'B" and made a part hereof for all purposes, together with all improvements thereto. TERM: Commencement Date: December 1, 2004 Primary Term: One Hundred Eighty (180) full months from the Commencement Date, subject to adjustment as provided in Paragraph 3.01. USE: Any lawful industrial use. PART II. LEASE AGREEMENT THIS AGREEMENT is made and entered into by and between Landlord and Tenant, as of the Execution Date shown in the Fundamental Lease Provisions. ARTICLE I 1.01. Fundamental Lease Provisions. Certain fundathental provisions ofthis Lease are set out on page (i) of this instrument, said page being identified "Fundamental Lease Provisions" and being so-called herein. The Fundamental Lease (c) "Landlord's Operating Expense" - All costs and expenses incurred and/or paid by Landlord under the provisions of Section 6.01 (Taxes and Assessments), Section 6.02 (Insurance), and Section 7.01(b) (pertaining to Common Area maintenance). (d) "Lease Year" -A period of twelve (12) consecutive months, commencing on the Commencement Date as to the first Lease Year, and any anniversary thereof as to subsequent Lease Years. (e) "Leased Promises" - That portion of the Project which is more particularly described in the Fundamental Lease Provisions and shown on plat attached hereto as Exhibit "B". (t) "Pr ' c - That certain real property identified in Exhibit "A", including, but not limited to, all improvements and structures located thereon and all rights, privileges, easements and appurtenances belonging or in any way pertaining thereto. (g) "Tenant's Proportionate Share" - Sixty percent (Wle). ARTICLE Ii mi. Demise or Leased Premises In consideration of the mutual covenants and agreements herein set forth, and other good and valuable consideration. Landlord does hereby demise and lease to Tenant, and Tenant does hereby lease from Landlord, effective as of the Execution Date shown in the Fundamental Lease Provisions, the Leased Premises; TO HAVE AND TO HOLD the same for the term hereinafter specified and upon the terms and conditions hereinafter set forth. ARTICLE III 3.01. PrimarvTcrnr The primary term of this Lease shall be that term set out in the Fundamental Lease Provisions. ARTICLE IV 4.01. Basic Rent. Tenant's obligation to pay rent under this Lease shall commence as of the Commencement Date. All rent payable by Tenant pursuant to this Section 4.01 is sometimes referred to in this Lease as the "Basic Rent'. Beginning as of the Commencement Date, Tenant shall pay Basic Rent in the amount of $136,980.00 per Lease Year, payable in twelve (12) equal monthly installments of S11,415.00 each on or before the first day of each calendar month during such Lease Year. The amount of each monthly installment of Basic Rent shall be adjusted effective as of the first day of the fourth (4th) Lease Year and as of the first day of each third (3rd) Lease Year thereafter to equal the product of (i) sixty percent (60%), multiplied by (ii) the then -current monthly installment of principal and interest payable by Landlord on that certain loan in the original principal amount of $2,184,000.00 from PEOPLES BANK to Landlord, such loan being secured by a Deed of Trust and other liens against and security interests in the Project. Basic Rent, as so adjusted, shall continue to be payable in twelve (12) equal monthly installments during each Lease Year, with an installment being due on or before the first day of each and every calendar month during the applicable Lease Year. All Basic Rent shall be paid by Tenant to Landlord without demand, deduction or offset of any kind whatsoever. 4.02. Additional Tenant Expense. In addition to Basic Rent, Tenant shall pay to Landlord an amount equal to Tenant's Proportionate Share of Landlord's Operating Expense. Prior to the Commencement Date and to January I of each succeeding calendar year throughout the term of this Lease, Landlord may estimate the amount of Landlord's Operating Expense which Landlord anticipates will be incurred during the following calendar year. Idsuch case, the amount of Tenant's monthly payment shall be an amount equal to the quotient of Tenant's Proportionate Share of Landlord's Operating Expense (as estimated by Landlord) divided by twelve (12), and shall be payable on the first day of each calendar month throughout each calendar year, at the same time as, but in addition to, Tenant's payment of Basic Rent Tenant acknowledges that the amount of such installment is an estimate and is not fixed and may change from year to year in accordance with Landlord's estimates of Landlord's Operating Expense. Within ninety (90) days following the end of each calendar year, Landlord shall furnish to Tenant a written statement showing the actual Landlord's Operating Expense for the preceding calendar year, and Tenant's Proportionate Share of such expense. In the event the total amount of monthly installments of Landlord's Operating Expense paid by Tenant to Landlord during the preceding calendar year shall be less than Tenant's Proportionate Share of the actual Landlord's Operating Expense, Tenant shall pay the balance to Landlord in cash within thirty (30) days following Tenant's receipt of Landlord's written statement if the total amount of the monthly installments of Landlord's Operating Expense paid by Tenant during such year shall exceed Tenant's Proportionate Share of the actual Landlord's Operating Expense, the balance, at Landlord's option, shall (a) be refunded to Tenant within thirty (30) days following the delivery of Landlord's statement, or (b) be credited against Tenanes monthly Landlord's Operating Expense payments for the following year. 4.03. Additional (tent. All sums of whatever character due from Tenant to Landlord or otherwise payable by Tenant under the terms of this Lease shall be deemed to constitute rent If such amounts are not paid at the time provided in this Lease, they shall nevertheless be collectible as rent with the next installment of Basic Rent thereafter falling due, but nothing herein contained shall be deemed to suspend or delay the payment of any amount of money or charge at the time the same becomes due and payable hereunder or to limit any other remedy of Landlord. All amounts of rent payable in a given month shall be deemed to comprise a single rental obligation of Tenant to Landlord. 4.04. )ram Penalty. If Tenant fails to pay any rent within ten (10) days following the date when the same is due and payable, Tenant acknowledges that the late payment will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amount of which costs and expenses is extremely difficult or impractical to fix. Therefore, if any such' rent is not received by Landlord from Tenant within five (S) days from the date due, Tenant shall immediately pay to Landlord, Liasc : t graenrenr Page 2 in addition to all other rent due, an amount equal to five percent (5111o) of the delinquent rent plus interest on the delinquent rent at the lesser of (i) 18% per annum, and (ii) the maximum legal rate from the date due until paid. Should Tenant pay said late charge but fail to pay contemporaneously therewith all unpaid amounts of rent, Landlord's acceptance of the late charge shall not constitute a waiver of Tenant's default with respect to Tenant's nonpayment of rent nor prevent Landlord from exercising all other rights and remedies available to Landlord under this Lease or under law. 4.05. Place of Rent Payment. All payments of rent shall be made to Landlord at Landlord's address, as designated in the Fundamental Lease Provisions, or at such other place is Landlord may designate in writing from time to time. ARTICLE V 5.01. VI - Tenant shall use the Leased Premises only for the purpose orpurposes specified in the Fundamental Lease Provisions. Tenant agrees that it will not do any of the following without the express, specific prior consent in writing of Landlord: (a) Use or operate any machinery or equipment that is harmful to the Leased Premises or unreasonably disturbing to other tenants in the Project; (b) Do, or suffer to be done, any act, manner or thing objectionable to the fire insurance companies whereby the fire insurance or any other insurance now in force or hereafter to be placed on the Leased Premises or any pats thereof, or on the Project of which the Leased Premises is a part shall become void or suspended, or whereby the same shall be rated at a more hazardous risk than at the date when Tenant received possession hereunder, in case of a breach of this covenant, in addition to all other remedies of landlord hereunder, Tenant agrees to pay to Landlord as additional rent any and all increase or increases of premiums on insurance carried by Landlord on the Leased Premises, or any part thereof, and on the Project of which the Leased Premises is a part, caused in any way by the occupancy or use of Tenant Further, Tenant agrees: (v) To comply with any and all requirements of any of the constituted public authorities having jurisdiction and with the terns of any State, Federal, or local statute, ordinance, or regulation applicable to Tenant or its use of the Leased Premises. (w) To give Landlord prompt written, full, complete, and specific notice of any accident, fire or damage occurring in, on or to the Leased Premises. (x) To keep all garbage and refuse in secure containers and to prepare the same for collection in the manner and at the times and places specified by regulations of the public authorities having jurisdiction. (y) To keep the Leased Premises clean, orderly, sanitary and free from objectionable odors and from insects, vermin and other pests and, with affirmative action, to disallow the usage and possession of any illegal substance in, on or upon the Leased Premises. (z) To pay all liens of contractors, subcontractors, sub -subcontractors, mechanic's, laborers, and materialmen and all other items of like character and to indemnify Landlord against all legal costs and charges, bond premiums for release of liens, including all attorney's fees of landlord incurred in and about the prosecution or defense of any suit in discharging the Leased Premises and, alternatively, the Project or any part or portion thereof from any liens, charges, judgments, or encumbrances caused or suffered to be caused, directly or indirectly, by Tenant, and that all the costs and charges above referred to shall be considered as rent due and shall be included in any lien for rent At Tenant's sole expense, Tenant shall procure, maintain and hold available for Landlord's inspection any governmental license or permit required for the proper and lawful conduct of Tenant's business. Tenant shall not use, or permit the use of, the Leased Premises in any manner that results in waste thereof or constitutes a nuisance, nor shall Tenant use, or permit the use of, the Leased Premises for any illegal purpose. Tenant, at its expense, will comply and will cause its employees, agents and invitees to comply, with all applicable laws and ordinances and with all applicable rules and regulations of governmental agencies concerning the use of the Leased Premises. 5.02. Tenant's Responsibility Regarding Hazardous Substances. (a) The term "Hazardous Substances," as used in this Lease, shall include, without limitation, flammables, explosives, radioactive materials, asbestos, polychlorinated biphenyls (PCBs), chemicals known to cause cancer or reproductive toxicity, pollutants, contaminants, hazardous wastes, toxic substances or related materials, petroleum and petroleum products, and substances declared to be hazardous or toxic under any law or regulation now or hereafter enacted or promulgated by any governmental authority. (b) Tenant shalt not cause or permit to occur. (i) Any violation of any federal, state, or local law, ordinance, or regulation now or hereafter enacted, related to environmental conditions on, under, or about the Leased Premises and Project, arising from Tenant's use or occupancy of the Leased Premises and Common Area, including, but not limited to, soil and ground water conditions; or Lease Agreenrew Page J (ii) The use, generation, release, manufacture, refining, production, processing, storage, or disposal of any Hazardous Substance on, under, or about the Leased Premises or Project, or the transportation to or from the Leased Premises of any Hazardous Substance. (c) Tenant shall, at Tenant's own expense, comply with all laws, regulations, rules, decrees and administrative orders regulating the use, generation, storage, transportation, or disposal of Hazardous Substances ("Laws"). Tenant shall, at Tenant's own expensei make all submissions to, provide all information required by, and comply with all requirements of all governmental authorities (the "Authorities") under the Laws. Should any Authority or any third party demand that a cleanup plan be prepared and that a cleanup be undertakerr because of any deposit, spill, discharge, or other release of Hazardous Substances that occurs during the term of this Lease, at or from the Leased Premises, which arises at any time and at any place as a result of Tenant's use or occupancy of the Leased Premises and/or Common Area, then Tenant shall, at Tenant's own expense, prepare and submit the required plans and all related bonds and other financial assurances; and Tenant shall carry out all such cleanup plans. Tenant shall promptly provide all information regarding the use, generation, storage, transportation, or disposal of Hazardous Substances that is requested by Landlord. IfTenant fails to fulfill any duty imposed under this subparagraph within a reasonable time, Landlord may do so; and in such case. Tenant shall cooperate with Landlord in order to prepare all documents Landlord deans necessary or appropriate to determine the applicability of the Laws to the Leased Premises and Project and Tenant's use thereof, and for compliance therewith, and Tenant shall execute all documents promptly upon Landlord's request. No such action by Landlord and no attempt made by Landlord to mitigate damages under any Law shall constitute a waiver of any ofTenanes obligations under this subparagraph. Tenant's obligations and liabilities under this subparagraph shall survive the expiration or termination of this Lease. (d) Tenant shall indemnify, defend, and hold harmless Landlord, the manager of the Project, and their respective officers, directors, beneficiaries, shareholders, partners, agents, employees, heirs, successors and assigns from all fines, suits, procedures, claims, and actions of every kind, and all costs associated therewith (including anomeys' and consultants' fees) arising out of or in any way connected with any deposit, spill, discharge, or other release of Hazardous Substances that occurs during the term of this Lease, at or from the Leased Premises, which arises at any time and at any place as a result of Tenant's use or occupancy of the Leased Premises and/or Common Area, or from Tenant's failure to provide all information, make all submissions, and take all steps required by all Authorities under the Laws and all other environmental laws. Tenant's obligations and liabilities under this subparagraph shall survive the expiration or termination of this Lease. ARTICLE Vi 6.01. Taxes and Assessments. Landlord shall pay all real estate taxes (both general and special), assessments and other governmental impositions lawfully created and assessed against the Leased Premises during the term hereof; provided, however, that Landlord shall have no liability to Tenant for failure to pay such taxes, assessments and other impositions at any time when Tenant is delinquent in payment of Tenant's Proportionate Share of Landlord's Operating Expense. The taxes, assessments and impositions to which this Section 6.01 refers shall include, but not be limited to, any and all sales tax, gross receipts tax, use tax, excise tax or other similar tax imposed or levied against rentals or any other charge or payment required under this Lease to be made by Tenant which has been imposed or levied on or against the same by any governmental agency having, or purporting to have, jurisdiction thereover, as well as any and all costs and expenses incurred and/or paid by Landlord to any person in connection with Landlord's contest of any sums which Landlord is required to pay hereunder. Tenant shall pay prior to delinquency all taxes and assessments imposed against all equipment, trade fixtures, furnishings and other personal property of Tenant in, on or about the Leased Premises. 6.02. Insurance. (a) Landlord agrees to maintain insurance covering the Project against loss or damage by fire and other casualties included in the so-called "Extended Coverage Endorsement" in an amount not less than eighty percent (901%) of the full replacement cost of all improvements thereto, exclusive of foundations and footings. All sums due and payable by Tenant under the provisions of this Section 6.02(a) shall be due and payable to Landlord upon demand. Landlord, at Landlords option, shall have the right to obtain business interruption insurance and/or loss of rental value insurance, including extended coverage endorsement, in an amount equal to twelve (12) months' income from all written and oral leases, concessions and occupancies affecting the Project, including the amount of any share of or contributions by Tenants to the operating expenses of the Project. Finally, Landlord, at its option, may obtain such other insurance coverages as Landlord, in Landlord's discretion, deems appropriate or as may be required by any lender of Landlord. All cost and expense incurred by Landlord pursuant to the terms of this Section 6.02(a) shall constitute a part of Landlord's Operating Expense for purposes of this Lease. (b) Tenant. at Tenants sole cost and expense, shall maintain during the entire term afthis Lease (unless otherwise expressly provided below) the following: / W Public liability insurance in an amount not less than i*5W1110 . combs sin gle-11 coverage, with commercially reasonable deductibles, to protect Landlord and Tenant from any claim arising from the use of the Leased Premises by Tenant or Tenant's agents, employees, subtenants, contractors, guests or invitees. (ii) During the course of any construction, alteration or repair of the Leased Premises by Tenant, buildees completed value risk insurance against "all risks of physical loss", including collapse and transit coverage with deductibles not to exceed $1,000.00, in non -reporting form, covering the total value of work performed and equipment, supplies and materials Lrusr Agrremr�u Page 4 fumished. Said policy of insurance shall contain the "permission to occupy upon completion of work and occupancy" endorsement. (iii) Boiler and machinery insurance covering- pressure vessels, air tanks, bailers, machinery, pressure piping, heating, air conditioning and elevator equipment and escalator equipment, provided that the Leased Premises contain equipment of such nature, and insurance against loss of occupancy or use arising from any such breakdown, in such amounts as are reasonably satisfactory to Landlord (iv) Such other insurance and in such amounts as may be from time to time required by Landlord. (c) All insurance required to be furnished by Tenant under the terms of this Lease shall be issued by companies acceptable to Landlord, shall name Landlord and such other persons as Landlord may designate as an additional insured and loss payee, and shall provide that the same may be canceled or modified only upon thirty (30) days prior written notice to Landlord Tenant shall evidence all such insurance coverage by delivering to Landtord the original copies of all policies or, at Landlord's option, a certificate in lieu thereof issued by the insurance companies underwriting such risk. (d) Landlord and Tenant each waive any and every claim which arises or may arise in its favor and against the other during the term of this Lease for any and all loss of, or damage to, any of its property located within or upon, or constituting a part of, the Leased Premises, which loss or damage is covered by valid and collectible fire and extended coverage policies, to the extent that such loss or damage is recoverable thereunder. Inasmuch as the above mutual waivers will preclude the assignment of any aforesaid claim by way of subrogation (or otherwise) to an insurance company (or any other person), Landlord and Tenant severally agree immediately to give each insurance company which has issued to it policies of insurance, written notice of the terms of said mutual waivers, and to have said insurance policies property endorsed, if necessary, to prevent the invalidation of such insurance coverages by reason ofsaid waivers. ARTICLE VII 7.01. Maintenance. Tenant shall, at its expense, take good care of, repair, maintain and replace the Leased Premises (including maintaining and replacing the roof, structural elements of improvements, parking, landscaping, windows, plate glass and doors; heating, ventilation and air conditioning equipment and ducts; electrical, plumbing and all other mechanical equipment and installations) and keep the same free from waste and nuisance, and shall deliver up the same in a clean and sanitary condition at the termination of this Lease in good repair and condition, reasonable wear and tear excepted In performing its obligations hereunder, Tenant shall use materials and labor of kind and quality equal to or better than the original work Tenant acknowledges and agrees that Landlord is not obligated to repair, maintain or replace any part of the Leased Premises. 7.02. Utility Services. In addition to all rentals required herein, Tenant shall pay for all utilities of whatever kind or sort that are used, installed or consumed in or upon the Leased Premises and all water and sewer charges, as and when the various charges therefor shall become due and payable; and Tenant shalt pay any garbage or trash collection fee imposed by governmental authority or licensee or franchisee. Landlord shall have no liability far any interruption in utility services provided to the Leased Premises unless such interruption results from the willful misconduct or sole negligence of Landlord. 7.03. Alterations Additions and ImMventenis Tenant shall not make any alterations, additions or improvements to the Leased Premises without the prior written corrsent of landlord. All alterations, additions or improvements made by Tenant shall become the property of Landlord at the termination or expiration of this Lease, provided that Tenant, at Tenant's expense, shall remove the same and repair all damage to the Leased Premises and/or Project caused thereby if Landlord so requests. To the extent that Landlord consents to and Tenant performs or causes to be performed on the Leased Premises any work relating to the alteration or improvement thereof or addition thereto, Tenant agrees that it will pay, or cause to be paid, all costs of labor, services and/or materials supplied in the prosecution of any such work and will keep the Leased Premises and Project free and clear of all mechanic's liens and other liens on account of work done for Tenant or persons claiming under Tenant Landlord, as a condition of granting its consent to any alteration, addition or improvement, may require that Tenant provide Landlord with such security as Landlord, in Landlord's sole judgment, shall deem appropriate to insure that no such mechanic's liens or other liens shall attach to the Leased Premises. In the event any such lien is filed against the Leased Premises as a result of Tenant's work, Tenant. at Tenant's sole cost and expense, shall discharge the same within ten (10) days from the date of its filing; provided, however, that if Tenant shall desire in good faith to contest any claim of such lien, it shall fumish Landlord with adequate security, determined in Landlord's sole judgment, to insure that in the event a finaljudgment establishing the validity or existence of the lien is entered, it will be promptly paid and satisfied. Without limiting Landlord's other rights under the terms of this Lease, in the event Tenant, within ten (10) days from the date the lien is filed against the Leased Premises or Project, has not discharged the same or contested it and posted adequate security with Landlord, as provided herein, Landlord may, but shall not be required to, pay said claim and any costs. The amount so paid, together with reasonable attorney's fees and other collection expenses incurred by Landlord in connection therewith, shall be immediately due and owing from Tenant to Landlord. in contracting for any and all such labor, services, and/or materials, Tenant shall not be acting as an agent of Landlord, and no claim by any person providing such labor, services, and/or materials shall attach to or otherwise encumber Landlord's interest in the Leased Premises. 7.04. Equipment and fixtures. Tenant shall have the right to erect, install, maintain and operate on the Leased Premises equipment, decorative items, trade and business fixtures and other personal property used and useful in Tenant's business, provided that in so doing Tenant shall not cause any material damage to any part of the Leased Premises. All trade fixtures, decorative items, machinery, equipment, shelving and other moveable property and equipment shall not be deemed to be part of the lensed Premises but shall remain the property of Tenant and shall be removed by Tenant from the Leased Premises prior to the termination or expiration hereof; provided that Tenant shall not be entitled to remove any such property at any time Lerue Agreentair Page 1 Tenant is in default hereunder. Tenant shall repair any damage caused to the Lcascd Premises by such removal and restore the Leased Premises to its original condition, reasonable wear and tear excepted. 7.05. i n . Tenant shall not install signs on or about the Leased Premises except with the prior written consent of Landlord and pursuant to applicable laws, codes and ordinances. Prior to the termination or expiration hereof, Tenant shall remove such signs; provided that Tenant shall not be entitled to remove any signs at any time Tenant is in default hereunder. Ail such installations and removals shall not injure or deface the improvements and Tenant shall repair any damage caused by such actions. 7.06. Condition of Propgrly: Disclaimer of Warranties. BY EXECUTION OF THIS AGREEMENT, TENANT WARRANTS AND REPRESENTS TO LANDLORD THAT TENANT HAS EXAMINED THE LEASED PREMISES., AND HAS DETERMINED, BASED SOLELY UPON SUCH EXAMINATION AND NO IN ANY WAY IN RELIANCE UPON ANY WARRANTY OR REPRESENTATION OF LANDLORD, THAT THE LEASED PREMISES ARE SUITABLE FOR TENANTS INTENDED USE AND THAT THERE ARE NO DEFECTS OR CONDITIONS AFFECTING SUCH SUITABILITY WHICH ARE EITHER OPEN AND OBVIOUS OR COULD BE DISCOVERED UPON REASONABLE EXAMINATION OF THE LEASED PREMISES. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW_ TENANT HEREBY WAIVES AND RELEASES ANY AND ALL WARRANTIES, EITHER EXPRESS OR IMPLIED, AS TO THE CONDITION OF THE LEASED PREMISES, INCLUDING, BUT NOT LIMITED TO, ALL WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND SUITABILITY FOR TENANT'S INTENDED USE. LANDLORD, AND TENANT AGREE THAT TENANTS DUTIES AND OBLIGATIONS HEREUNDER, INCLUDING THE OBLIGATION TO PAY RENT, SHALL BE INDEPENDENT OF AND NOT CONTINGENT UPON LANDLORD'S PERFORMANCE OF ANY AND ALL DUTIES AND RESPONSIBILITIES RELATING TO OR ARISING OUT OF ANY WARRANTY NOT DISCLAIMED BY LANDLORD UNDER THE TERMS OF THIS PARAGRAPH. 7.07. Cjestrurction or Damaee. (a) If the Leased Premises, or any part thereof, should be destroyed or damaged by fire or other casualty, Tenant shall immediately deliver written notice thereof to Landlord. (b) If the Leased Premises should be totally destroyed by fire, tornado or other casualty, or if they should be so damaged by any such cause so that rebuilding or repairs cannot reasonably be completed within one hundred eighty (180) days from the date of such damage, or if insurance proceeds actually received by Landlord by reason of such damage or destruction should, in Landlord's judgment, be insufficient to pay the entire cost of repairing or rebuilding, then Landlord, by written notice delivered to Tenant, may terminate this Lease effective a of the date of such damage. (c) l(the Leased Premises should be damaged by fire, tornado or other casualty, but not to such an extent that the rebuilding or repairs cannot reasonably be completed within one hundred eighty (I80) days from the date of such damage, or if Landlord otherwise shall not have elected to terminate this Lease pursuant to Section 7;07(b) hereof, this Lease shall not terminate, but Tenant, at Tenants sole cost and expense, shall immediately proceed to repair and rebuild the Leased Premises to at least as good a condition as they were in prior to the damage or destruction. Landlord agrees to make available to Tenant for such purpose all insurance proceeds actually received by Landlord by reason of the damage or destruction, such proceeds to be made available at such time and under such conditions as Landlord shall require. (d) I f the Leased Premises are untenantable in whole or in part following any damage or destruction and this Lease is not terminated, neither Basic Rent nor any other amounts due hereunder shall abate or be reduced (except to the extent of any rent loss insurance proceeds received by Landlord). (e) 10 the event that this Lease is terminated pursuant to this Section 7.07, Landlord shall receive all insurance proceeds payable under insurance policies and relating to damage to the Lease d Premises. Tenant shall receive ail proceeds, if any, attributable to the loss of Tenant's equipment, trade and business fixtures, signs and other personal property which Tenant is Permitted to remove from the Leased Premises under this Lease. ARTICLE Vlll 8.01. Default by Landlord. If Landlord shall neglect or fail to perform or observe any of the terms, covenants or conditions contained in this Lease on its part to be performed or observed within a reasonable time, but in no event less than thirty (30) days, after written notice of default from Tenant, then Landlord shall be deemed to be in default hereunder. In the event of Landlord's default, Tenant, as Tenant's sole remedy, may terminate this Lease, Tenant expressly waiving and releasing any and all other remedies which might otherwise be available to Tenant, whether at law or in equity. It is expressly understood that no default by Landlord shall constitute consent by Landlord for Tenant to perform or observe any terms, covenants or conditions at Landlord's expense, or to fail to fully comply with all of Tenant's obligations under the terms of this Lease, including, but not limited to, payment of rent, Tenant expressly agreeing that Tenant's obligations under this Lease are independent of any and all obligations on the part of Landlord. Lease: 8.02. Default by Tenant. The following events shall be deemed to be "events of default" by Tenant under this (a) Tenant shall fail to pay any installment of rent on the date that the same is due. (b) . Tenant shall fail to comply with any term, condition or covenant of this Lease, other than the payment of refit, and shall not cure such failure within thirty (30) days after written notice thereof from Landlord to Tenant',, provided, however, that in the event the nature ofTenanes failure is such that it reasonably cannot be cured Leuae Agrervion Puge 6 within thirty (30) days after written notice from Landlord, Tenant shall not be in default under the terns of this Lease if Tenant shall commence to cure such failure within thirty (30) days after written notice thereof from Landlord to Tenant and thereafter shall diligently, in good faith and continuously prosecute such cure to completion. (c) Tenant shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Tenant shall file a petition under any section of the Bankruptcy Code or under any outer similar law or statute of the United States or any state thereof, or Tenant shall be adjudged bankrupt or insolvent in proceedings filed against Tenant and, with respect to any involuntary proceedings filed against Tenant, Tenant shall fail to dismiss or cause to be vacated such proceeding or any order entered in connection therewith within ninety (90) days after the filing or entry thereof. (e) A receiver or trustee shall be appointed for the Leased Premises or any part thereof and such receiver or trustee is not discharged or dismissed within ninety (90) days after appointment. (f) Tenant shall remove or attempt to remove, or shall disclose an intention to remove, Tenant's goods and properties from or out of the Leased Premises other than in the ordinary and usual course of business. 8.03. Remedies of Landlord. Upon the occurrence of any event of default, Landlord shall have the option to pursue any one or more of the following remedies without any further notice or demand whatsoever. (a) Landlord may terminate this Lease. In the event that Landlord shall terminate this Lease, Tenant shall pay to Landlord, upon demand and in addition to all accrued and unpaid surns owed by Tenant to Landlord hereunder, an amount equal to all rent which would otherwise be payable for the remainder of the then -current term of this Lease, with Tenant's Proportionate Share of Landlord's Operating Expense being computed based upon the then -current Tenants Proportionate Sham of Landlords Operating Expense being paid by Tenant. Landlord and Tenant agree that it would be impossible to calculate the exact amount of damages suffered by Landlord by reason of Tenant's default, and that the sums described herein constitute a reasonable estimate of such damages and not a penalty for Tenant's default. (b) Without terminating this Lease. and subject to applicable law, Landlord may reenter and take possession of the Leased Premises and remove all persons and property therefrom, in which event Landlord may, but, except as otherwise provided by law, shall not be required to, relet the Leased Premises or any part thereof, for all or any part of the remainder of the then -current term hereof, to such parties and at such rental as Landlord, in Landlord's judgment, may be able to secure. Should any rental be less than the rental Tenant is obligated to pay under this Lease, plus the expense of reletting, then Tenant shall pay to Landlord, on a monthly basis, the amount of any deficiency in the rent. For purposes of this Section 8.03(b), Landlord's expense of reletting shall include, but not be limited to, any leasing commissions paid by Landlord in connection with the leasing of the Leased Premises to another tenant, any rental concessions and allowances (whether paid in cash or otherwise) granted to any new Tenant, and the cost of renovating and/or finishing out the space so that it is suitable for use by another tenant. (c) Without terminating this Lease, and subject to applicable law. Landlord may enter into and upon the Leased Premises, and do whatever Tenant is obligated to do under the terms of this Lease, and Tenant shall reimburse Landlord on demand for any expenses which Landlord may incur in thus effecting compliance with Tenants obligations under this Lease, together with interest on all sums paid by Landlord at the maximum legal rate from the date paid by Landlord to the date reimbursed by Tenant. Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant from such action. (d) Without limiting and in addition to Landlord's other remedies hereunder, it is expressly agreed that at any time Tenant is in default hereunder, Landlord may change all locks on all doors to the Leased Premises and otherwise exclude Tenant from the Leased Premises.. In such case, Landlord shall post on a door of the Leased Premises a notice stating the name and the address or telephone number of the individual or company from which new keys may be obtained. Landlord shall not be required to provide the new keys to Tenant except during Landlord's regular business hours. Anything contained elsewhere in this Lease to the contrary notwithstanding, Landlord shall not be required to deliver any new keys to Tenant or permit Tenant access to the Leased Premises until such time as Tenant has cured its default. Tenant further agrees that Landlord shall not be required to provide Tenant access to Tenants personal property contained in the Leased Premises during any time when Tenant is denied access by reason of Tenants default Pursuit of any one remedy by Landlord shall not preclude pursuit of any other remedy provided herein, not shall pursuit of any remedy constitute a forfeiture or waiver of any rent due. Landlord or for any damages accruing to Landlord by reason of the violation of any of the terms, provisions and covenants herein. The remedies set forth herein shall be in addition to, and not in lieu of, any and all other remedies which are available to Landlord at law or equity. 8.04. Teriant's Personal ProncM: Contractual Security interest. Without limiting Landlord's rights under this Lease, in the event Tenant shall default hereunder, all of Tenants personal property shall remain on the Leased Premises and. during any period of default, Landlord shall have the right to take exclusive possession of the same or, at its option, to require Tenant to remove it. In addition to, and not in lieu of. Landlord's statutory lien, it is expressly agreed that Landlord shall have, and Tenant hereby grants to Landlord, a contractual lien and security interest in all goods, chattels, inventory, furniture, fixtures, equipment and/or other personal property of any description belonging to Tenant that is placed in, or becomes a part of, the Leased Premises, as security for rent due and to become due during the term hereof and for Tenant`s performance of all of IA -use Agreentenr _ Page 7 Tenant's obligations, covenants and conditions hereunder. Tenant shall execute and deliver to Landlord appropriate UCC Financing Statements as are requested by Landlord from time to time. Upon default by Tenant, Owner may require Tenant to assemble all or any part of the above -described personal property and make it available to Owner at any place to be designated by Owner. Expenses of retaking, holding, preparing for sale, selling or the like of the above -described personal property shall include reasonable attomey's fees and legal expenses incurred by Landlord. Upon default by Tenant, Landlord may exercise any and all of the rights and remedies of a secured party provided under the Texas Business and Commerce Code, as well as any and all other rights and remedies possessed by Landlord. ARTICLE IX 9.01. Indemni. Landlord shall not be liable for, and Tenant shall defend and indemnify Landlord from, any claim, demand, liability, judgment, award, fine, mechanic's lien or other lien, loss, damage, expense, charge or cost of any kind or character (including aetomey's fees and court costs) arising directly or indirectly from the repair, alteration, improvement, use, occupancy or enjoyment of the Leased Premises or any other portion of the Building or Common Area by Tenant, Tenants assignees and/or subtenants, and their respective contractors, agents, licensees, or invitees, excluding, however, claims to the extent resulting from the negligent of Landlord. 9.02. Assignment and Sublettint. Tenant shall not assign this Lease and/or sublet all or any part of the Leased Premises without the prior written consent of Landlord It is expressly agreed that Landlord's prior written consent to any assignment or subletting shall constitute a condition precedent to the effectiveness of such assignment or subletting, and Landlord shall not be bound thereby until and unless such consent is given. For purposes of this Lease, an "assignment" shall be deemed to include, but not be limited to, the following: (a) Any absolute assignment of some or all of Tenant's interest, rights and duties in the Lease and the Leased Premises, including Tenant's right to use, occupy and possess the premises, or any part thereof, whether voluntary, involuntary or by operation of taw; (b) Any conditional, contingent or deferred assignment, sublease or conveyance by Tenant of some or all of Tenant's interest, rights or duties in the Lease or the Leased Premises, including Tenant's right to use, occupy or possess the Leased Premises, or any part thereof, including, without limitation, any mortgage, deed of taut, pledge, hypothecation, lien, franchise, license, concession, or other security arrangement; (c) If Tenant is a corporation, limited liability company, partnership or other legal entity, the transfer by sale, assignment, death, incompetency, mortgage, deed of trust, trust, operation of law, or otherwise, of any shares, membership interests, voting rights or ownership interests which would result in a change in the identity of the person or persons exercising, or who may exercise, effective control of Tenant, unless such change results from the trading of shares listed on a recognized public stock exchange and such trading is not for the purpose of acquiring effective control of Tenant 9.03. lnsoections. Tenant shall permit Landlord and its agents to enter into and upon the Leased Promises at all reasonable times for the purpose of inspecting the same, for the purpose of maintaining or making repairs or alterations required of Landlord, and for the purpose of exercising Landlords rights in the event of Tenant's default hereunder. Landlord may place "for lease" or "for sale" signs in and about the Leased Premises and show the same to prospective Tenants during the last one hundred eighty (180) days of the lease term. 9.04. Condemnation. (a) 1 f, during the term of this Lease, all or a substantial part of the Leased Premises should be taken for any public or quasi -public use under any governmental law, ordinance or regulation or by right of eminent domain, or shall be sold to the condemning authority under threat of condemnation, this Lease shall terminate and the rent shall be abated during the unexpired portion of this Lease, effective as of the date of taking of said premises by the condemning authority. (b) I f less than a substantial part of the Leased Premises shall be taken for any public or quasi -public use under any governmental law, ordinance or regulation, or by right of eminent domain, or should be sold to the condemning authority under threat of condemnation, this Lease shall not terminate but Landlord shall restore and reconstruct the Leased Premises provided such restoration and reconstruction shall make the same tenantable and suitable for the uses for which the Leased Premises are leased hereunder and provided further that Landlord shall not be required to expend any sums in excess of condemnation proceeds actually received by Landlord. All minimum rent payable hereunder shalt be abated, either in whole or in part, as -may be necessary and equitable during any period when such restoration and construction is in progress, and, to the extent the same relate to the unexpired portion of this Lease, shall be adjusted equitably for all periods thereafter. (c) For purposes of this Section 9.04, it shall be deemed that a substantial part of the Lcased Premises has been taken if in Landlord's judgment the remaining portions of the Leased Premises, after performing any repairs and rebuilding required to the same by reason of the taking, reasonably may not be used by Tenant for the purposes for which the same are let. (d) Any other provisions of this Section 9.04 to the contrary notwithstanding, in the event the condemnation proceeds actually received by Landlord shall be insufficient to pay all costs and expenses which may be incurred in connection with the repair and rebuilding of the remaining portion of the Leased Premises, Leurr .�grc¢arrrrc _ Page 8 Landlord may terminate this Lease by written notice to Tenant, with such termination to be effective as of the date of taking (e) Landlord shall be entitled to receive the entire condemnation award for the taking of all. real property and leasehold interests in the Leased Premises. Tenant's tight to receive a condemnation award for the taking of its merchandise, personal property, goodwill. relocation expenses and/or interests in other than the real property taken shall not be affected in any manner by the provisions of this paragraph, provided that Tenant's award does not reduce or affect Landlord's award. 9.05. SSubordination or Lease, Estoppel Certificates. Tenant agrees that this Lease shall be subordinate at all times to ground or underlying Leases and to the lien of any mortgages, deeds of trust, and other encumbrances now or hereafter affecting the Leased Premises, or Landlord's interest or estate therein, and Tenant agrees upon demand to execute such further instruments subordinating this Lease as Landlord may request At any time and from time to time, on not more than five (5) days' written notice from Landlord, Tennant shall execute and deliver to Landlord a written estoppel certificate in a form acceptable to Landlord. Tenants failure to execute and deliver the estoppel certificate within said five (5) day period shall be deemed to matte conclusive and binding upon Tenant the statements contained in the estoppel certificate as true and correct, without exception. Unless Tenant shall have notified Landlord in writing within said five (5) day period of any qualifications Tenant may have to the statements in the estoppel certificate, Landlord and anyone participating with Landlord in the sale or mortgage of the Leased Premises shall have the right to rely on the accuracy of such statements. 9.06. Surrender. Tenant shall, upon the termination of this Lease, surrender the Leased Premises in good repair and in a broom clean and sanitary condition, reasonable wear and tear, Landlord's repairs and damage by condemnation or by fire, tornado or other casualty not due to the negligence or willful misconduct of Tenant or Tenant's employees, agents„ subtenants, contractors, guests or invitees excepted 9.07. Hotdiriv Over by Tenant. In the event Tenant remains in possession of the Leased Premises after expiration of this lease and without the execution of a new lease, such hold -over shall constitute and be construed as a tenancy from month -to -month only, upon the same terms and conditions contained herein, except that the minimum rent shall be twice the minimum rent paid for the last month of the term hereof; provided that Landlord, by the tarns hereof, is not deemed to consent to any such holdover by Tenant and may exercise all rights provided by law to remove Tenant from the Leased Premises. 9.08. Notices and Addresses. Except where otherwise expressly provided herein, all notices, demands and communications provided to be given under this Lease shall be in writing and may be given personally, by overnight delivery, or by certified or registered mail, addressed to the proper parry, at the address for that party shown in the Fundamental Lease Provisions. Notice shall be deemed received upon deposit of such notice in the United States mail, certified mail, return receipt requested, addressed as aforesaid, or when actually received if sent other than by mail. Either party may change its address upon fifteen (15) days' prior written notice to the other party hereunder. 9.09. Parties bound. This Lease shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, administrators, legal representatives, successors, and assigns where permitted by this Lease. 9.10. Applicable Law. This Lease shall be construed under and in accordance with the laws of the state of Texas, and all obligations of the parties hereunder are performable in Lubbock County, Texas. 9.11. Leeal Construction. In case any one or more of the provisions contained in this Lease shall for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision hereof and this Lease shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. 9.12. Prior Aeree tents Superseded. This Lease constitutes the sole and only agreement of the parties hereto and supersedes any prior understandings or written or oral agreements between the parties with respect to the subject matter within. 9.13. Amendment. No amendment, modification, or alteration of the temLS hereof shall be binding unless the same be in writing and duly executed by the parties hereto. 9.14. Waiver. of Default. No waiver by the parties hereto of any default or breach of any term, condition, or covenant of this tease shall be deemed to be waiver of any breach of the same or any other term, condition, or covenant contained herein. 9.15. Attorney s Fees In the event Landlord is required to employ attorneys to protect or enforce its rights hereunder, Tenant agrees to pay Landlord's reasonable attorney's fees. 9.16. Force Maieure Whenever a period of time is herein prescribed for action to betaken by Landlord orTcnant, such parry shalt not be liable or responsible for, and there shall be excluded from the computation of any such period of time, any delays due to Force Majeure. 9.17. Time of the Essence. Time is of the essence to this Agreement. 9.1S. Exhibit . All exhibits referenced herein and attached hereto are made a part hereof the same as ifset forth verbatim herein. iN WITNESS WHEREOF, the undersigned Landlord and Tenant hereto execute this Lease as of the date first above written. Lamle Agru¢ntcur Page 9 LANDLORD: REMOVE, LTD., a Texas limited partnership By:. BEMOVE GP, L.L.C., a Texas limited liability company, General Partner By: MODULE TRUCK SYS !S, INC., a Texas co e i i B . Printed e: Title: TENANT: VERTICAL TURBINE SPECIALISTS, INC., a Texas corporatio By: %� �'�•'" Printed Na Title: Leare.Igrecmcar Page I EXHIBIT "B" St 7- '+ • .. {(r 1 OFFICE BIYLDNG Ica :�. 18.55 ACRE TRACT 7,5 ACRE TRACT 6 0 I $ I a ��.� LI'•• �.' iJ I .' ,.,. � ald I .. Description West 440 feet of Tract C Breedlove Addition to the City of Lubbock, Texas EXHIBIT "C" GUIDELINES AND CRITERIA GOVERNING TAX ABATEMENT FOR SELECTED TAXING UNITS CONTAINED WITHIN LUBBOCK COUNTY SECTION 1. General Purpose: The Affected Jurisdictions located wholly within or partially within the County of Lubbock, Texas, are committed to the promotion of high quality development in all parts of Lubbock County, Texas; and to an ongoing improvement in the quality of life for the citizens residing within the Affected Jurisdictions. The Affected Jurisdictions recognize that these objectives are generally served by enhancement and expansion of the local economy. The Affected Jurisdictions will, on a case by case basis, give consideration to providing tax abatement, as authorized by V.T.C.A., Tax Code, Chapter 312, as stimulation for economic development within the Affected Jurisdictions. It is the policy of the Affected Jurisdictions that said consideration will be provided in accordance with the guidelines and criteria herein set forth and in conformity with the Tax Code. Nothing contained herein shall imply, suggest or be understood to mean THAT the Affected Jurisdictions are under any obligation to provide tax abatement to any applicant and attention is called to V.T.C.A., Tax Code, Section 312.002(d). With the above rights reserved all applications for tax abatement will be considered on a case by case basis. SECTION II. Definitions: As used within these guidelines and criteria, the following words or phrases shall have the following meaning: 1. Abatement of Taxes: To exempt from ad valorem taxation all or part of the value of certain Improvements placed on land located in a reinvestment zone designated for economic development purposes as of the date specified in the Tax Abatement Agreement for a period of time not to exceed ten (10) years. 2. Affected Jurisdiction: The County of Lubbock and City of Lubbock. 3. Abatement Agreement: (1) A contract between a property owner and an Affected Jurisdiction for the abatement of taxes on qualified property located within the reinvestment zone; or, (2) a contract for the abatement of taxes between an Affected Jurisdiction and a certified air carrier who owns or leases Real Property located within the reinvestment zone or Personal Property or both as authorized by V.T.C.A., Tax Code, Section 312.204(e) 4. Base Year Value: The assessed value of property eligible for tax abatement as of January 1 preceding the execution of an Abatement Agreement as herein defined. 5. Distribution Center Facility: A building or structure including Tangible Personal Property used or to be used primarily to receive, store, service or distribute goods or materials. 6. Expansion of Existing Facilities or Structures: The addition of buildings, structures, machinery or equipment to a Facility. 7. Existing Facility or Structure: A facility as of the date of execution of the Tax Abatement Agreement, located in or on Real Property eligible for tax abatement. 2003 Industrial Guidelines Amended December 16, 2004 Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 2 8. Facility: The improvements made to Real Property eligible for tax abatement and including the building or structure erected on such Real Property and/or any Tangible Personal Property to be located in or on such property. 9. Improvements to Real: Property or Improvements: Shall mean the construction, addition to, structural upgrading of, replacement of, or completion of any facility located upon, or to be located upon, Real Property, as herein defined, or any Tangible Personal Property placed in or on said Real Property. 10. Manufacturing Facility: A Facility which is or will be used for the primary purpose of the production of goods or materials or the processing or change of goods or materials to a finished product. 11. Modernization/Renovation of Existing Facilities: The replacement or upgrading of existing facilities. 12. New Facility: The construction of a Facility on previously undeveloped real property eligible for tax abatement. 13. New Permanent Job: A new employment position created by a business that has provided employment to an employee of at least 1,820 hours annually and intended to be an employment position that exists during the life of the abatement. 14. Other Basic Industry: A Facility other than a distribution center facility, a research facility, a regional service facility or a manufacturing facility which produces goods or services or which creates new or expanded job opportunities and services a market of which 50% of revenues come from outside of Lubbock County, Texas. 15. Owner: The record title owner of Real Property or the legal owner of Tangible Personal Property. In the case of land leased from an Affected Jurisdiction or buildings leased from a private party or tax exempt property, the lessee shall be deemed the owner of such leased property together with all improvements and Tangible Personal Property located thereon. 16. Productive Life: The number of years a Facility is expected to be in service. 17. Real Property: Land on which Improvements are to be made or fixtures placed. 18. Regional Services Facility: A Facility, the primary purpose of which is to service or repair goods or materials and which creates job opportunities within the Affected Jurisdictions. 19. Reinvestment Zone: Real Property designated as a Reinvestment Zone under the provisions of V.T.C.A., Tax Code, Section 312.202. 20, Research Facility: A Facility used or to be used primarily for research or experimentation to improve or develop new goods and/or services or to improve or develop the production process for such goods and/or services. 21. Tangible Personal Property: Any Personal Property, not otherwise defined herein and which is necessary for the proper operation of any type of Facility. Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 3 SECTION III. Intent of Criteria and Guidelines: The Intent of the criteria and guidelines, as herein set forth, is to establish the minimum standards which an applicant for tax abatement must meet in order to be considered for such status by the Affected Jurisdictions. SECTION IV. Criteria and Guidelines for Tax Abatement: Any type of Facility will be eligible for tax abatement consideration provided such Facility meets the following guidelines and criteria: 1. To qualify for Tax Abatement, the company must meet both of the following criteria: a) The modernization or expansion of an existing facility of any type as herein defined or construction of a new facility of any type as herein defined. b) Producer, manufacturer or distributor of goods and services of which 50 percent or more are distributed outside of Lubbock County. 2. In addition to the aforementioned, the taxing jurisdiction will consider abatement only if the company meets one of the following criteria: a) One of the following target industries: i) Electronics/Electrical/Assembly: Manufacturing: Semiconductor Fabrication. ii) Value-added Agricultural Production including Food Processing and Machinery iii) Med Tech Research/Manufacturing/Assembly iv) Aviation/Avionics Production/Rehab v) Warehouse/Distribution vi) Corporate Headquarters of a Regional/National Service Center b�The project is not included as a target industry, but has the potential of generating additional significant economic development opportunities to Lubbock 3. The company must meet one of the following criteria: a) The project will add at least $1 million in real estate assessed valuation, or $2 million of personal property assessed valuation, or 25 new permanent jobs if the facility is a new company to Lubbock. b) The project will add at least $500,000 in real estate assessed valuation, or $1 million in personal property assessed valuation, or 20 new permanent jobs if the facility is a modernization or expansion of an existing company that has operated in Lubbock for five or more years. Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 4 4. New or existing facilities,of any type herein defined, located in a reinvestment zone or upon Real Property eligible for such status will be eligible for consideration for tax abatement status provided that all other criteria and guidelines are satisfied 5. Improvements to Real Property are eligible for tax abatement status. 6. The following types of Property shall be ineligible for tax abatement status and shall be fully taxed. a) Real Property; b) inventories or supplies; c) tools; d) furnishings and other forms of movable personal property; e) vehicles; f) aircraft; g) housing; h) boats; i) hotel accommodations; j) motel accommodations; k) retail businesses; i) property owned by the State of Texas or any State agency; and, m) property owned or leased by a member of the affected Jurisdiction that did not have an active tax abatement in place before they became a member of the governing body or commission. 7. In order for a Facility to qualify for abatement, the following conditions must apply: a) The owner or leaseholder of real property must make eligible improvements to the real property; and, b) In the case of lessees, the leaseholder must have a lease commitment of at least five (5) years. c) Facilities located within the certificated territory of the City's municipally owned electric utility, Lubbock Power and Light (LP&L) must utilize LP&L for electrical services during the term of the abatement, so long as LP&L's rates are competitive on a state-wide basis. 8. In reinvestment zones, the amount and term of abatement shall be determined on a case by case basis, however, in no event shall taxes be abated for a term in excess of ten (10) years. The amount of the taxable value of Improvements to be abated and the term of the abatement shall be determined by the municipality in all cases where Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 5 the property for which tax abatement is applied for is within the City limits of the City or by the County of Lubbock in all cases where the property for which tax abatement is applied for is outside of the City limits of a municipality, but within the County of Lubbock, except that a reinvestment zone that is a state enterprise zone is designated for the same period as a state enterprise zone as provided by Chapter 2303, Government Code. The authority of all other taxing units shall be as set forth in V.T.C.A., Tax Code, Section 312.206. In enterprise zones, the governing body of each taxing jurisdiction may execute a written agreement with the owner of the property. The agreement may, but is not required to, contain terms that are identical to those contained in the agreement with the municipality, county, or both, whichever applies, and the only terms for the agreement that may vary are the portion of the property that is to be exempt from taxation under the agreement and the duration of the agreement. 9. No property shall be eligible for tax abatement unless such property is located in a reinvestment zone in accordance with V.T.C.A., Tax Code, Section 312.202 and the tax abatement application is filed with the taxing jurisdiction before construction begins. 10. Notwithstanding any of the requirements set forth in Section IV Subsection 3, the governing body of an Affected Jurisdiction upon the affirmative vote of a three -fourths (3/4) of its members may vary any of the above requirements when variation is demonstrated by the applicant for Tax Abatement that variation is in the best interest of the Affected Jurisdiction to do so and will enhance the economic development of the Affected Jurisdiction. By way of example only and not by limitation the governing body of an Affected Jurisdiction may consider the following or similar terms in determining whether.a variance shall be granted: a) That the increase in productivity of the Facility will be substantial and hence directly benefit the economy. b) That the increase of goods or services produced by the Facility will be substantial and directly benefit the economy. c) ' That the employment maintained at the Facility will be increased. d) That the waiver of the requirement will contribute and provide for the retention of existing jobs within the Affected Jurisdiction. e) That the applicant for tax abatement has demonstrated that if tax abatement is granted to his Facility even though his Facility will not employ additional personnel THAT nevertheless due to the existence of said Facility new jobs will be created as a direct result of his Facility in other facilities located within the Affected Jurisdiction. f) Any other evidence tending to show a direct economic benefit to the Affected Jurisdiction. 11. Taxability: a) The portion of the value of Improvements to be abated shall be abated in accordance with the terms and provisions of a Tax Abatement Agreement executed between the Affected Jurisdiction and the owner of the Real Property Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 6 and/or Tangible Personal Property, (which agreement shall be) in accord with the provisions of V.T.C.A., Tax Code, Section 312.205. b) All ineligible property, if otherwise taxable as herein described, shall be fully taxed. 12. The governing body of each Affected Jurisdiction shall have total discretion as to whether tax abatement is to be granted. Such discretion, as herein retained, shall be exercised on a case by case basis. The adoption of these guidelines and criteria by the governing body of an Affected Jurisdiction does not: a) Limit the discretion of the governing body to decide whether to enter into a specific tax abatement agreement; b) Limit the discretion of the governing body to delegate to its employees the authority to determine whether or not the governing body should consider a particular application or request for tax abatement; or, c) Create any property, contract, or other legal right in any person to have the governing body consider or grant a specific application or request for tax abatement. 13. The burden to demonstrate that an application for tax abatement should be granted shall be upon the applicant. Each Affected Jurisdiction to which the application has been directed shall have full authority to request any additional information from the applicant that the governing body of such Affected Jurisdiction deems necessary to assist it in considering such application. SECTION V. Criteria and Guidelines for Creation of Reinvestment Zone: 1. No Property shall be eligible for tax abatement unless such property is located in a reinvestment zone designated as such in accordance with V.T.C.A., Tax Code, Section 312.202. To be designated as a reinvestment zone an area must meet one of the following: a) Substantially arrest or impair the sound growth of the municipality or county creating the zone, retard the provision of housing accommodations, or constitute an economic or social liability and be a menace to the public health, safety, morals, or welfare in its present condition and use because of the presence of- 1 . a substantial number of substandard, slum, deteriorated, or deteriorating structures; 2. the predominance of defective or inadequate sidewalks or streets; 3. faulty size, adequacy, accessibility or usefulness of lots; 4. unsanitary or unsafe conditions; 5. the deterioration of site or other improvements; 6, tax or special assessment delinquency exceeding the fair value of the land; 7. defective or unusual conditions of title; Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 7 8. conditions that endanger life or property by fire or other cause; or, 9. any combination of these factors; a) Be predominantly open and, because of obsolete platting, deterioration of structures or site improvements, or other factors, substantially impair or arrest the sound growth of the municipality; b) Be in a federally assisted new community located in a home rule municipality or in an area immediately adjacent to a federally assisted new community located in a home rule municipality; c) Be located entirely in an area that meets the requirements for federal assistance under Section 119 of the Housing and Community Development Act of 1974 (42 U.S.C. Section 5318); d) Encompass signs, billboards, or other outdoor advertising structures designated by the governing body of the municipality for relocation, reconstruction, or removal for the purpose of enhancing the physical environment of the municipality, which the legislature declares to be a public purpose; or, e) Be reasonably 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 municipality. 2. For purposes of this Section, federally assisted new community is a federally assisted area: a) That has received or will receive assistance in the form of loan guarantees under Title X of the National Housing Act (12 U.S.C., Section 1749aa et seq); and, b) A portion of which has received grants under Section 107 (a)(1) of the Housing and Community Development Act of 1974, as amended. 3. The governing body of a municipality, as required by Section 312.201, or a county, as required by V.T.C.A., Tax Code, Section 312.401, shall hold a public hearing on the designation of an area within its jurisdiction as a reinvestment zone. The burden shall be on the owner of the property sought to be included in the zone or applicant for the creation of the reinvestment zone to establish the following: a) That the requirements of Subsection 1 of this Section have been met. b) That the improvements sought are feasible and practical. 4. No later than the seventh day before the date set for the above public hearing notice of such hearing shall be: a) Published in a newspaper having general circulation in the Affected Jurisdiction. b) Delivered in writing to the presiding officer of the governing body of each taxing unit that includes in its boundaries Real Property that is to be included in the reinvestment zone. Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 8 5. At the public hearing above described in Subsection 3 above, any interested person is entitled to speak and present evidence for or against the designation of such reinvestment zone. 6. At the conclusion of the hearing described in Subparagraph 3 above, the governing body shall enter its findings as follows: a) That the applicant or owner has or has not met his burden as hereinabove set forth, and/or, b) That the improvements sought are or are not feasible and practical. c) That the proposed improvements sought will or will not be a benefit to the land to be included in the reinvestment zone and to the Affected Jurisdiction after the expiration of an agreement entered into under V.T.C.A., Tax Code, Section 312.204. 7. An application for the creation of a reinvestment zone shall not be granted unless the Affected Jurisdiction considering such application enters affirmative findings to Subparagraphs a, b, and c of Subsection 6 above set forth. 8. At the conclusion of the public hearing herein required and upon the affirmative finding of the governing body as required by Subsection 7 above set forth, the governing body may designate a reinvestment zone in accordance with the provisions of V.T.C.A., Tax Code, Sections 312.201 or 312.401, whichever Section shall be applicable under the premises. 9. The designation of a reinvestment zone expires five years after the date of the designation and may be renewed for periods not to exceed five years, except that a reinvestment zone that is a state enterprise zone is designated for the same period as a state enterprise zone as provided by Chapter 2303, Government Code. The expiration of the designation does not affect an existing tax abatement agreement made in accordance with V.T.C.A., Tax Code, Section 312.201 through Section 312.209. 10. Designation of an area as an enterprise zone under the Texas Enterprise Zone Act, Chapter 2303, Subchapter C, Texas Government Code, constitutes designation of the area as a reinvestment zone under Subchapter B of the Property Redevelopment and Tax Abatement Act without further hearing or other procedural requirements other than those provided by the Texas Enterprise Zone Act, Chapter 2303, Subchapter C, Texas Government Code. SECTION VI. Tax Abatement Agreement 1. After the creation of a reinvestment zone as hereinabove authorized a Tax Abatement Agreement may be executed between the owner and any Affected Jurisdiction. A Tax Abatement Agreement shall a) Establish and set forth the Base Year assessed value of the property for which tax abatement is sought. b) Provide that the taxes paid on the base year assessed value shall not be abated as a result of the execution of said Tax Abatement Agreement. Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 9 c) Provide that ineligible property as subscribed in Section IV, Subsection 6, hereinabove shall be fully taxed. d) Provide for the exemption of Improvements in each year covered by the agreement only to the extent the value of such Improvements for each such year exceeds the value for the year in which the agreement is executed. e) Fully describe and list the kind, number and location of all of the improvements to be made in or on the Real Property. f) Set forth the estimated value of all improvements to be made in or on the Real Property. g) Clearly provide that tax abatement shall be granted only to the extent: 1. The Improvements to Real Property increase the value of the Real Property for the year in which the Tax Abatement Agreement is executed; and, 2. That the Tangible Personal Property improvements to Real Property were not located on the Real Property prior to the execution of the Tax Abatement Agreement. h) Provide for the portion of the value of the improvements to Real Property of improvements to be abated. This determination is to be made consistent with the provisions of Section IV, Subsection 6, of these guidelines and criteria as hereinabove set forth. i) Provide for the commencement date and the termination date. In no event shall said dates exceed a period of ten years. j) Describe the type and proposed use of the improvements to Real Property or improvements including: 1. The type of facility. 2. Whether the improvements are for a new facility, modernization of a facility, or expansion of a facility. 3. The nature of the construction, proposed time table of completion, a map or drawings of the improvements above mentioned. 4. The amount of investment and the commitment for the creation of new jobs. 5. A list containing the kind, number and location of all proposed Improvements. 6. Any other information required by the Affected Jurisdiction. k) Provide a legal description of the Real Property upon which improvements are to be made. l) Provide access to and authorize inspection of the Real Property or improvements by employees of the Affected Jurisdiction, who have executed a Tax Abatement Agreement with owner to insure improvements are made according to the specifications and conditions of the Tax Abatement Agreement. Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 10 m) Provide for the consistent with redevelopment i Agreement. limitation of the uses of the Real Property or improvements the general purpose of encouraging development or f the zone during the period covered by the Tax Abatement n) Provide the contractual obligations in the event of default by owner, violation of the terms or conditions by owner, recapturing property tax revenue in the event owner defaults or otherwise fails to make improvements as provided in said Tax Abatement Agreement, and any other provision as may be required or authorized by State Law. o) Contain each term agreed to by the owner of the property. p) Require the owner of the property to certify annually to the governing body of each taxing unit that the owner is in compliance with each applicable term of the agreement. q) Provide that the governing body of the municipality may cancel or modify the agreement if the property owner fails to comply with the agreement. Not later than the seventh day before a municipality or the County of Lubbock(as required by V.T.C.A., Tax Code, Section 312.2041 or Section 312.402) enters into an agreement for tax abatement under V.T.C.A., Tax Code, Section 312.204, the governing body of a municipality or a designated officer or employee thereof or the governing body of the county of Lubbock or a designated officer or employee thereof shall deliver to the presiding officer of the governing body of each of the taxing units in which the property to be subject to the agreement is located, a written notice that the municipality or the County of Lubbock as the case may be, intends to enter into the agreement. The notice must include a copy of the proposed Tax Abatement Agreement. 3. A notice, as above described in Subparagraph 2, is presumed delivered when placed in the mail, postage paid and properly addressed to the appropriate presiding officer. A notice properly addressed and sent by registered or certified mail for which a return receipt is received by the sender is considered to have been delivered to the addressee, 4. Failure to deliver the notice does not affect the validity of the agreement. SECTION VII. Application: Any present owner of taxable property located within an Affected Jurisdiction may apply for tax abatement by filing an application with the county of Lubbock, when the Real Property or Tangible Personal Property for which abatement is sought is located within the County of Lubbock but outside of the City limits of any City or with the appropriate City when the Real Property or Tangible Personal Property for which abatement is sought is located within the City limits of a municipality located wholly or partially within Lubbock County. 2. The application shall consist of a completed application form accompanied by: a) A general description of the improvements to be undertaken. Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 11 b) A descriptive list of the improvements for which tax abatement is requested. c) A list of the kind, number and location of all proposed improvements of the Real Property Facility or Existing Facility. d) A map indicating the approximate location of improvements on the Real Property Facility or Existing Facility together with the location of any or all Existing Facilities located on the Real Property or Facility. e) A list of any and all Tangible Personal Property presently existing on the Real Property or located in an existing facility. f) A proposed time schedule for undertaking and completing the proposed improvements. g) A general description stating whether the proposed improvements are in connection with: 1. the modernization of a facility (of any type herein defined); or, 2. construction of a new facility (of any type herein defined); or, 3. expansion of a facility (of any type herein defined); or, 4. any combination of the above. h) A statement of the additional value to the Real Property or Facility as a result of the proposed improvements. i) A statement of the assessed value of the Real Property, Facility or Existing Facility for the Base Year. j) Information concerning the number of new jobs that will be created or information concerning the number of existing jobs to be retained as result of the improvements undertaken. k) Any other information which the Affected Jurisdiction, to which the application has been directed, deems appropriate for evaluating the financial capacity of the applicant and compatibility of the proposed improvements with these guidelines and criteria. 1) Information that is provided to an Affected Jurisdiction in connection with an application or request for tax abatement and which describes the specific processes or business activity to be conducted or the equipment or other property to be located on the property for which tax abatement is sought is confidential and not subject to public disclosure until the Tax Abatement Agreement is executed. Information in the custody of an Affected Jurisdiction after the agreement is executed is not confidential. (V.T.C.A., Tax Code, Section 312.003). m) The Affected Jurisdiction to whom the application for tax abatement has been directed shall determine if the property described in said application is within a designated reinvestment zone. If the Affected Jurisdiction determines that the property described is not within a current reinvestment zone then they shall so notify the applicant and said application shall then be considered both as an Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 12 application for the creation of a reinvestment zone and a request for tax abatement to be effective after the zone is created. SECTION Vlll. Default Options In the event that the applicant, owner or lessee has entered into a tax abatement agreement to make improvements as defined in Section IV.2 above, but fails to undertake or complete such improvements; fails to create all or a portion of the new jobs provided by the Tax Abatement Agreement; or is in default of any of the terms or conditions contained in the Tax Abatement Agreement; then in such event the Affected Jurisdiction to whom the application for tax abatements was directed shall give the applicant or owner sixty (60) days notice of such failure. The applicant or owner shall demonstrate to the satisfaction of the Affected Jurisdiction above mentioned that the applicant or owner has commenced to cure such failure within the sixty (60) days above mentioned. In the event the applicant owner, or lessee fails to demonstrate that he is taking affirmative action to cure his failure, the Affected Jurisdiction shall have three options: (a) The Affected Jurisdiction may renegotiate the Agreement with the applicant, owner or lessee, in which case the current Guidelines and Criteria Governing Tax Abatement for Commercial Projects in Designated Enterprise Zones shall apply to the new Agreement; or (b) The Affected Jurisdiction may determine that good cause exists to cancel the Agreement and all abatement of taxes shall terminate immediately; or (c) The Affected Jurisdiction may terminate the Agreement and recapture taxes abated under Section VIII. Recapture. 2. In any of the three options in subparagraph 1 above, the Affected Jurisdiction to which the application for tax abatement was directed shall determine whether default has occurred by the applicant, owner or lessee in the terms and conditions of the Tax Abatement Agreement and shall so notify all other Affected Jurisdictions. Cancellation or termination of the Tax Abatement Agreement by the Affected Jurisdiction to which the application for tax abatement was directed shall constitute simultaneous action to all Tax Abatement Agreements of all other Affected Jurisdictions. SECTION IX. Recapture In the event that any type of facility, (as defined in Section II, Subparagraphs 5, 6, 7, 8, 10, 11, 12, 14, 18, 20) is completed and begins producing goods or services, but subsequently discontinues producing goods or services for any reason, excepting fire, explosion or other casualty or accident or natural disaster or other event beyond the reasonable control of applicant or owner for a period of 180 days during the term of a tax abatement agreement, then in such even the Tax Abatement Agreement shall terminate and all abatement of taxes shall likewise terminate. Taxes abated during the calendar year in which termination takes place shall be payable to each Affected Jurisdiction by no later than January 31st of the following year. Taxes abated in years prior to the year of termination shall be payable to each Affected Jurisdiction within sixty (60) days of the date of termination. The burden shall be upon the applicant or owner to prove to the satisfaction of the Affected Jurisdiction to who the application for tax abatement was directed that the discontinuance of producing goods or services was as a result of fire, explosion, or other casualty or accident of natural Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 13 disaster or other event beyond the control of applicant or owner. In the event that applicant or owner meets this burden and the Affected Jurisdiction is satisfied that the discontinuance of the production of goods or services was the result of vents beyond the control of the applicant or owner, then such applicant or owner shall have a period of one year in which to resume the production of goods and services. In the event that the applicant or owner fails to resume the production of goods or services within one year, then the Tax Abatement Agreement shall terminate and the Abatement of all taxes shall likewise terminate. Taxes abated during the calendar year in which termination takes place shall be payable to each Affected Jurisdiction by no later than January 31st of the following year. Taxes abated in years prior to the year of termination shall be payable to each Affected Jurisdiction within sixty (60) days of the date of termination. The one year time period, hereinabove mentioned, shall commence upon written notification from the Affected Jurisdiction to the applicant or owner. 2. In the event that the applicant or owner has entered into a tax abatement agreement to make improvements to a facility of any type described in Section 1 above, but fails to undertake or complete such improvements or fails to create all or a portion of the number of new jobs provided by the Tax Abatement Agreement, then in such event the Affected Jurisdiction to whom the application for tax abatement was directed shall give the applicant or owner sixty (60) days notice of such failure. The applicant or owner shall demonstrate to the satisfaction of the Affected Jurisdiction, above mentioned, that the applicant or owner has commenced to cure such failure within the sixty (60) days above mentioned. In the event that the applicant or owner fails to demonstrate that he is taking affirmative action to cure his failure, then in such event the Tax Abatement Agreement shall terminate and all abatement of taxes shall likewise terminate. Taxes abated during the calendar year in which termination takes place shall be payable to each Affected Jurisdiction by no later than January 31st of the following year. Taxes abated in years prior to the year of termination shall be payable to each Affected Jurisdiction within sixty (60) days of the date of termination. 3. In the event that the Affected Jurisdiction to whom application for tax abatement was directed determines that the applicant or owner is in default of any of the terms or conditions contained in the Tax Abatement Agreement, then in such even the Affected Jurisdiction, shall give the applicant or owner sixty (60) days written notice to cure such default. In the event such default is not cured to the satisfaction of the Affected Jurisdiction within the sixty (60) days notice period, then the Tax Abatement Agreement shall terminate and all abatement of taxes shall likewise terminate. Taxes abated during the calendar year in which termination takes place shall be payable to each Affected Jurisdiction by no later than January 31st of the following year. Taxes abated in years prior to the year of termination shall be payable to each Affected Jurisdiction within sixty (60) days of the date of termination. 4. In the event that the applicant or owner allows ad valorem taxes on property ineligible for tax abatement owed to any Affected Jurisdiction, to become delinquent and fails to timely and properly follow the legal procedures for their protest or contest, then in such even the Tax Abatement Agreement shall terminate and all abatement of taxes shall likewise terminate. Taxes abated during the calendar year in which termination, under this subparagraph, takes place shall be payable to each Affected Jurisdiction by no later than January 31st of the following year. Taxes abated in years prior to the year of termination shall be payable to each Affected Jurisdiction within sixty (60) days of the date of termination. In the even that the applicant or owner, who has executed a tax abatement agreement with any Affected Jurisdiction, relocates the business for which tax Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 14 abatement has been granted, to a location outside of the designated reinvestment zone, then in such event, the Tax Abatement Agreement shall terminate after sixty (60) days written notice by the Affected Jurisdiction to the Owner/Applicant. Taxes abated during the calendar year in which termination, under this subparagraph takes place shall be payable to each Affected Jurisdiction by no later than January 31st of the following year. Taxes abated in years prior to the year of termination shall be payable to each Affected Jurisdiction within sixty (60) days of the date of termination. 6. The date of termination as that term is used in this Subsection VI11 shall, in every instance, be the 60th day after the day the Affected Jurisdiction sends notice of default, in the mail to the address shown in the Tax Abatement Agreement to the Applicant or Owner. Should the default be cured by the owner or Applicant within the sixty (60) day notice period, the Owner/Applicant shall be responsible for so advising the Affected Jurisdiction and obtaining a release from the notice of default from the Affected Jurisdiction, failing in which, the abatement remains terminated and the abated taxes must be paid. 7. In every case of termination set forth in Subparagraphs 1, 2, 3, 4 and 5 above, the Affected Jurisdiction to which the application for tax abatement was directed shall determine whether default has occurred by Owner (Applicant) in the terms and conditions of the Tax Abatement Agreement and shall so notify all other Affected Jurisdictions. Termination of the Tax Abatement Agreement by the Affected Jurisdiction to which the application for tax abatement was directed shall constitute simultaneous termination of all Tax Abatement Agreements of all other Affected Jurisdictions. 8. In the event that a tax abatement agreement is terminated for any reason what so ever and taxes are not paid within the time period herein specified, then in such event, the provisions of V.T.C.A., Tax Code, Section 33.01 will apply. SECTION X. Miscellaneous: 1. Any notice required to be given by these criteria or guidelines shall be given in the following manner: a) To the owner or applicant: written notice shall be sent to the address appearing on the Tax Abatement Agreement. b) To an Affected Jurisdiction: written notice shall be sent to the address appearing on the Tax Abatement Agreement. 2. The Chief Appraiser of the Lubbock Central Appraisal District shall annually assess the Real and Personal Property comprising the reinvestment zone. Each year, the applicant or owner receiving tax abatement shall furnish the chief Appraiser with such information as may be necessary for the abatement. Once value has been established, the Chief Appraiser shall notify the Affected Jurisdictions which levy taxes of the amount of assessment. 3. Upon the completion of improvements made to any type of Facility as set forth in Section VIII, Subparagraph 1 of these criteria and guidelines a designated employee or employees of any Affected Jurisdiction having executed a tax abatement agreement with applicant or owner shall have access to the Facility to insure compliance with the Tax Abatement Agreement. Industrial Tax Abatement Guidelines Amended December 16, 2004 Page 15 4. A tax abatement agreement may be assigned to a new owner but only after written consent has been obtained from all Affected Jurisdictions which have executed such an agreement with the applicant or owner. 5. These guidelines and criteria are effective upon the date of their adoption by an Affected Jurisdiction and shall remain in force for two years. At the end of the two year period these guidelines and criteria may be readopted, modified, amended or rewritten as the conditions may warrant. 6. Each Affected Jurisdiction shall determine whether or not said Affected Jurisdiction elects to become eligible to participate in tax abatement. In the even the Affected Jurisdiction elects by resolution to become eligible to participate in tax abatement, then such Affected Jurisdiction shall adopt these guidelines and criteria by separate resolution forwarding a copy of both resolutions to all other Affected Jurisdictions. 7. In the event of a conflict between these guidelines and criteria and V.T.C.A., Tax Code, Chapter 312, then in such event the Tax Code shall prevail and these guidelines and criteria interpreted accordingly. 8. The guidelines and criteria once adopted by an Affected Jurisdiction may be amended or repealed by a vote of three -fourths of the members of the governing body of an Affected Jurisdiction during the two year term in which these guidelines and criteria are effective. EXHIBIT "D" .%Z1� )&to m apt 45 If /406 APPLICATION FOR INDUSTRIAL TAX ABATEMENT IN LUBBOCK COUNTY ORIGINAL COPY OF THIS APPLICATION AND ATTACHMENTS SHOULD BE SUBMITTED TO: Phone: (806) 385-6461 Applicants Representative on this project: Name: Address: Phone: Type of Ownership City of Lubbock Business Development Department P.O. Box 2000 1625 13`h Street, Suite 105 Lubbock, TX 79457 (806) 775-2019 Fax: (806) 385-6456 [x] Corporation [ ] Partnership [ ] Proprietorship Total Current Number Employees: NA Corporate Annual Sales Per Year: NA Annual Report Submitted? [ ] Yes [x] No WSApplication Industrial Tax Abatement Application Page 2 Place a check mark in the box on those statements which are applicable to your company : (a) This application is for a: [x] New Facility [ ] Expansion [ ] Modernization (b) Is the company a producer, manufacturer or distributor of goods and services of which 50 percent or more are distributed outside of Lubbock ?(If yes, provide documentation as Attachment 1) [x] Yes [ ] No (c) Check the following target industry which is applicable to your company [ ] Manufacturing Facility: Electronics/Electrical/Assembly, Semiconductor Fabrication [ ] Value-added Agricultural Production including Food Processing and Machinery [ ] Med Tech Research/Manufacturing/Assembly [ ] Aviation/Avionics Production/Rehab [ J Warehouse/Distribution [ ] Corporate Headquarters of a Regional/National Service Center [x] The project is not included in the above target industries, but has the potential of generating additional significant economic development opportunities in Lubbock. (Provide documentation) (d) [x] The existing facility to be modernized or expanded or the property where the new facility.is to be built is located in a designated. Enterprise Zone. (e) [x] New Company to Lubbock [ ] Existing Company (f) If New Company checked, which of the following statements apply to the project: [ ] The project will add at least $1 million in real estate assessed valuation [ J The project will add at least $2 million of personal property assessed valuation [x] The project will add at least 25 new permanent jobs (g) If Existing Company checked, which of the following statements apply to the project: [ ] The project will add at least $500,000 in real estate assessed valuation [ J The project will add at least $1 million of personal property assessed valuation [ ] The project will add at least 20 new permanent jobs (h) Address of proposed facility: 1802 E. 50`h Suite 106 Lubbock TX 79404 (i) Legal description of proposed facility: West 440 feet of Tract C, Breedlove Addition (Vol 1626, Page 894) (West building) 0) The proposed facility is located in: School District. Lubbock Independent School District City: Lubbock Industrial Tax Abatement Application Page 3 (k) Describe product or service to be provided: VTS. Inc. manufactures a full range of standard and custom fabricated parts for vertical turbine pumps. Please attach the following: Attachment 2 (a) A general description of the improvements to be undertaken (example: modernization of manufacturing facility located at 4501 Peach Street and purchase of new manufacturing equipment). (b) A descriptive list of the improvements for which tax abatement is requested, including: (1) description of construction and location of all proposed improvements of the Real Property or Existing Facility, and; (2) list of new equipment and cost of the equipment. (c) A list of any and all Tangible Personal Property presently existing on the Real Property or located in an existing facility. (d) A proposed time schedule for undertaking and completing the proposed improvements. Attachment 3 (a) A site map indicating the approximate location of improvements on the Real Property Facility or Existing Facility together with the location of any or all Existing Facilities located on the Real Property or Facility. Attachment 4 (a) A statement of the additional value to the Real Property or Facility as a result of the proposed improvements. (b) A statement of the assessed value of the Real Property, Facility or Existing Facility for the base year (attach tax assessment for property from the Lubbock Central Appraisal District). Part A — Current Investment in Existing Improvements: NA Part B — Permanent Employment Estimates: (1) If existing facility, what is the current plant employment: NA (2) Estimated number of new jobs to be created and time frame for creation of jobs: New Jobs 65185 Time Frame Immediate/3 years (3) Opening of improvements: (Month) December of (Year) 2004. Industrial Tax Abatement Application Page 4 Part C — Permanent Payroll Estimates: (1) If existing facility, what is the current plant payroll: NA (2) Estimated amount of new payroll : $1,612,535.60 Part D — Construction and Employment Estimates: (1) Construction start: Month Feb Year 2005. (2) Number of construction jobs: At Start 22 Peak 59 Finish 59 (3) Number of man-years: 20.4 Part E — School District Impact Estimates: Give Estimated number of: Families transferred to area max 44 Children added to ISD's max 45 Part F — City Impact Estimates: (1) Volume of treated water required from City NA gallons per day. (2) Volume of effluent to be treated by City NA gallons per day. (3) Please provide a statement on planned water and sewer treatment methods, and disposal of effluent if the facility is to be located outside City systems. (4) Has permitting been started? 0 Yes [x] No Part G — Estimated Appraised Value on Site: LAND Value of Existing Facility Before New Construction (From Central Appraisal District) $110,378 Value of New Improvements PERSONAL IMPROVEMENTS PROPERTY $1,227,840 $1,046,470 $410,000 Estimated Total Value After Improvements $110,378 $1,046,470 $1,527.840 Existing facilities purchased on November 29, 2004 for $1,700,000.00. Land value based on 60% of appraised value. Part H — Variance: Industrial Tax Abatement Application Page 5 (a) Is a variance being sought under Section IV 9(d) of the "Guidelines"? [ ] Yes [x) No (b) if "Yes", attach any supplementary information required. Section V - OTHER AGREEMENT APPLICATIONS (a) Has applicant made application for abatement of this facility by other taxing jurisdictions or counties? [ J Yes [x] No (b) if "Yes", please provide: (1) Dates of Application: (2) Hearing Dates: (3) Name of Jurisdiction(s): (4) Name of Contact(s): (4) Attach any letters of intent to abate. Section VI - DECLARATION To the best of my knowledge, the above information is an accurate description of project details. I �. ff,11 WN A M& BRADLEY D. ALLEN Printed Name of Company Official Vice President Title of,Company Official Attachment 1 to Industrial Tax Abatement Application for Vertical Turbine Specialists, Inc. Vertical Turbine Specialists, Inc. manufactures component parts for the vertical turbine pump market. Over 75% of annual sales of $6 Million are made to five major customers. Goulds Pumps, Peerless Pumps, Patterson Pump Company, Flowserve Corporation and Fairbanks - Morse Pump Company all have multiple national locations and overseas sales. The remaining 25% of sales is made to customers throughout the United States, Canada and Puerto Rico. In contrast to the sales generated outside the immediate Lubbock area, our manufacturing operations generate $3 Million in purchased goods, services and supplies. Of that, $1.3 Million is in trade with businesses located in Lubbock. Section 11(c) to Industrial Tax Abatement Application for Vertical Turbine Specialists, Inc. In addition to the commerce generated by the relocation of VTS' manufacturing facilities, negotiations are ongoing to establish a Minor Emergency Clinic and a chiropractic clinic in the office buildings adjacent to the shop facility, to serve the personnel of VTS and east Lubbock. Peerless Pump will relocate their Plainview facilities to Lubbock and lease a portion of the shop facility, concurrent. with our move. We are also negotiating with a vendor, outside of Lubbock County, to lease another portion of the shop facility. These tenants should bring an additional 25 - 30 jobs to the site No Text a;ine Acquis�t�on Acquisition No; Description._ .. Date Cost ,k .' - 1l1%1958 ' _ $1,000:00 13; Tubing Assy .,; `-. (7 2. `5`` Osfer'Pipe ` :1l1,11960 ` `...$625.00 'f9 : Oster.Pipe Threader 1/1%1960 $1,875:00 . Grid eport'.Mifl _ 111%1974 : ` $2l250:00 59 H dra Station = 11 [/1.9Z$ . $250.00 71, Drip Press.. - 11l1I19T6 $295.00. ; 77 1 Ton 1/1/1977 $1;250:00 1' Lathe=Eroadbeni ;; ; ; - 311/1977 ' . $10,g47,00 9'l Turret Letlie47 1011%19 T $1. 875 00 131 Re, i, Arrri Saw;; `:` ... 5(1:f1979 :' ,$73G.00 145 Water Gaoler 9/1 %1979 $632,00 A 55 Qviiehead: Crane' : OMA 979 :. $16, 955.00 1:.7 Crank & Ho1st ;1l1/1980 : $1;339.00 175. Electric Hoist : 2/1l1980 . ` .: $:770 00 1:7 Laftte :Betts 2%1I1980:.$18,90000 1$5. Boring ffli:52 :; *111980 ` ' $18 500 00 1'91 Lathe Victor 5/1/1980 $t0;500;00 . 199 Lati Transformer 511l1980 $75500. 209 i3ison Jaw ;: : '' 10/111980 2fi T Radial Drill I Ohm 980 : $12; 500,00 225 Lathe Rockiand : 10%1t1981 $1el, ,900:00 �31 Sawin System..' 1/111982, ?33 S,enro Power. , _ 1/1 1982 : $496A0' '.35 Hoist Trolley 11fi61982 ` $1,880.:00 . ; = P41-r. Efectric.Starter :.. :,211/1982 ; . _ $1,8482Oa 43; Chuck Flat Zl11t982 $1750;00 49 " Turret Lathe . 10.%1/1982 - $4,750 00 • 79 Scales 3L1%1984 ':.:$446:00 33: .C:athe.CPL #1 : ; : 4/1/.1984 .:::.. $32,824..00 . 5: Lathe` Sftafting 5/1Y1984 $18,720 00 $312.00 -.. ►3 A Compressor , 3/1J1985 $4,1 ..do 5 ACME Lathe CPL : 5/1/1985 .:` ..... $3,750;00 3 ABG. #1: ani! Bar '' R 10 Ol1l.1985 '$10265.00 a DavcaLai fhe. . 2l tf1987 $60,000.00 3. DavcaTurret: - 4MH987.. $2,500.00 .:. . ' -Pipe .Rattler �. . 8. / 1 i79f37. $1,542.00 .IVifes Lathe' . ' : 1 tl�1T987 $40;500.00..:..: Bo into Mill -.8© :. .. _ :. 1.211/198Z $.14;. 0.00 Air.Cvrnpressor 12/1f1987 $12,822:00 Lathe 6/1l1988 $21;027>00 Landis Pipe 6/1/1-988 $28,239:00 Lathe - Rockland 1t1/1989 $12;500.00 Landis Jaws ':_ .. 1l1f1989 $273.50 1-5HP Neuman Used Motor 411f1989 $188,00 Compressor 4/1�1989 $6$5 00 Air Conditioner 511.11989 $200.00 . . Starrett 24" Caliper. 5!111989 $506.00 429.`':. HoPsfi A/211969 $.1s0;00:. 43� F #2 7`r�rret.l.athe ;• ' :.: ; :... 61111089 :: ..:.; •: $2;000.OE). :433: � 1.Ton.Hoi t . 6/1%1989 $1,157.00- - $310.00 = 49 Air Valve ICif ' .'7711198$6 8/11989 $ t 39 50 -443 'Tan, Hoist- .... .rindm ' .Whi : : ; , : •. ;= ::: x 8E1/19 89 .$760:40 .... !449 Mfc`$et' ; 8/1%1989 : $762:10 451 C J I�Aaste,'r`, :; .. :; :...,.: .77 /.. 8. /1989 -:$45 0:0 0 461 . Ciifc{nnatt►~1{�r7acri�s<Pdmp. , :': 91tllg89.: .:$1,52475:.,' 463 Ark: `Ie;:RdurSd,:haKrel 9/171989 $1;298:35" :4fi$ BeemS 9/1%1989 $299;00. 47.1 6"Ro a( 4=V�lay .6610 ose::. , 1Q/1/1989. $850 00. 475:< S Gnp.trut: ' .10%111989 $64,00 2 ' 501: Teled ne Landis Screws -_ 99.0 1t111' - 519 Crandon & Clark 'Shear . °::4/1 $840:00 52t Punch:P�ess : ;: 5f:1f1990 ; ''` $,wa50 5/1'/1990 : �' $1';93$ 00.. 527„ M'rcroiiieter ? 7/1/1990 $560 00 533 Mic Set 8%4%1690 : .$343:05 a35; Lutbock:Maohine Tooi Geer.' _. 10l1/1990 .- $1;20Q 00 537' .Lubbock Machine Tool;< } ':'., .;:: _. :; , . :::.10/1I1990 :' : ' $3,000:00 12/1l1990 551-: Si. n for. Building• 3/1%1980 $:188 00: ". :557: Starrett,Vemier...::: ::::, : :.' .. ,,: 1/28/1992 :.:. $448.00 12/3111992 ; $3,204 58 586. L$hmart �:athieease ` : ;' . :... :: :.:. ..._ _..... ;. 101t71994 .:::'.. '.--$40;44:92 588 . Savd Lease.::"::`•.,:; ::::.:.. ; .'. ....__..__.�.:.:,:. ::.: 9/1/1994 589 VTL Jaws: - 10/1 /1994 � $850 0Q 592 4."..Jaw.Chuck:::,:::-' :.:: :; :..... : ,. :.: 11/1f1004 596: ,18''" Jadv Chuck:..: `:. , _ .. ' . ':. :; ;. ::` , :" :...: 11/1/1994 ;_: - .. ,•. .595 38 .:. , 301 Radial brill Table 5/1[1995 $550;00: 305 I1sedto: mbination'Chuck ...:. ;.; :.: :. ` T/1/1995 :: :.,:: $500:00. 306 Milli.Machine :': " .....: ':;: ' : .. 8/1F1996 Q$ Ta .,:grinder: ': ;:..::::..:; 8%-111905.: '- $4';500.00 t1 Air'. 'Conditione[ �16 Steed Hopper ;. ,. ; . ` .,1/1/1-996 $619 00 1 V1/8�S CNG Sei#3 F:17956j 19` . W&S GNC (Ser#3117958} .: ; :. - : 3/1%1.996 20. AM.Radial Ddil(Sei#65076-42) 22` Mazak CNC.(SwW7-9655) 41VI996 25 . Ma�atrol,Wririg 5/111906 : $6,348 27 ?8.- 2 :Ton 'Ho'ists (2): 9/'J`%1996 : :. $4,059.94 30..' Bullard D natro!-36" Serial #;31317 = .. � ` 10%1/1.996 $19,000:00 I Sleet Dump Wop"er 10/1<1996 $1,29800 6 62" Klh4 Boring -Mill . Serial # 3395 . .: : _ 2/111997 - . ; $26,566.25 6 42!'kiog OpOng Mill Serial # 3330 21111997 $21 403.75' 7 25" x144" .Monarch En ine. Lathe Serial # 32330 2/1/1997 $16,300.00 1.::. .. Mazak CNC `(Serial # QT-30) ....: 3/1/1997 $122,000.00 642 d' ma marr Vertical Band Saw Sena! # 1 ti1l1997 : $5 815 04 y Air Compres.5or':: 5i'fi1997 ., $3150:0a :-•6'43 Maze .$385;35 ' 00 : ;: 647. Mobile;Stora e`LJriif:+, 2/111998 $32,.926 84: 6:48 #10Q 1D. Coder:& CdntroEs ..::... ,:. , :.. - .:::.• :• •: ° . 41fi/1998 ' . , _ $5,16Z.58 650 : Sel' c rad''1'5'�xtradtor - 5/1 1998 $1,730.00 : 667, turnrr ltl( enal #:29988j 6/1f1998 $23,480:00 �'y 653': Summit (5eriai # 298.58 6l1i1998 $23;490:00 654 111l4zak QT-30 (` ;; .`:: ` .`. : ` . 6/1f1.998 655;; Mazak{flT 3Q .:: :. ' :. .: :°.. .:: `:":; 6f.111998 :. $12Q;350.00 Bu "Cart 4/1/1998 $834.51' 66Q. Bickford,RadialDrilL`;:.• =•:4/3QN999 __;";,:^..: QO' 6"' : Drill: Prees.Box Taf les :..:::' ' :,. ". :,: `.:' , •, . : 5/711999 '662 An Ie.Plate Fixtu[e ... ::.• ., ,. :5/28/1999 •:' - - :`' r:' $8;645.dfl 664 ; Tubin .. Chasers': :_ ` , : :, 3/1412QOE? $816:00= 666 _andrs Threader. . 5/23/2000 . , ; :::. :` $1.0'910:93, 669.. ., Ehain: Hoist uir[frolle .:. ' .. X=ray .liRach�rte .' ' :: ; ::::. ` .: '. ' .: ". :..:......:: .. :..: 1Z29/2002 Efoctrrci ty` : tarii . /2 26%2002 - 43t 680Ca $, Mituloya Mini'CliOckec' . 7/26/2002 Miivtu.d`Gati `e Head�for•Ml6i Checker : ``-i26/20C12 N C . .. 8/20/2002 : $. 1 142:44 , ::• ' , ` High Pressure FNasher °. : ,: 12/14/206 : $5755 00 .;: - Cfiaut°Clam `s far H65t}` �3/1172003 $f,770 fl0 Mazak H=15 5%1/2003 $9 500 00' Center ilTG° �. " 6/1:1.I2003 : $369`500 00' ,.. Jor enson Cfrtp.Qonveyor 7/1-1/2003 $5,285:00 93':Wk, SQT:'fbM::-. ;, 10%.10%200 + ::: ' •_: ..<. $22;500.00 - W Ma HTC 4Q0 :10/.10/2003 : $7; 50.0, 00 94-Mitt ubishi-MTQ=8B-' .: :' '` 10/10/2003 $15;000 00 :. 90 Bridgeport inieact 412 :10f1072003 • $7;50Q.00` 90: NumereX"CMM 40 '64=24 MDCER . ' : .1.01,10%2003 Mazak:Micrbdisc'Data En System;10/101003 %:..'. '. $,1,$00'00 Mifutoyo:PH350'.optical. Comparitor.; HEM.Saw 1200L: t ;: .101.10/2003 _ $1,660 00 w.HEIV! Saw 120OL:: :; '. :• 10/10/2003 .: :: $1; 50.bd Summit Radial Dntf ::::.:': , .. ,. •.` ..: 10!' =063 ... ` $2-k 00_ un FTV2KnMill 00/003to 5, 00 Cincinnati: En ina Lathe :: `.: : 10%.10%2003 . $7,500.00. Okuma:LSEngine'Lathe ` :::. `; , ' .: 10/10/2003 ., " $6,600:00 ,.. Monarch: Eft. Toolroam`Lathe' .. 10/10/2003 . ' $21250:00 Abeen-HoHzontal/Vertical Mill` . ;: , :: : . ' 10/1O/2003 $2,625:00 Darez Drilf Sharpenef 1.0/1Qf2E103 :.. $187 50 Darex`84 0 8nd Mill.Sharpener. joho/2003 Quincy 25HP Scre47 `pe Compress , : = :10710/2003 - $1.1;250.06- Gardner Denver 25HP Screw Air Compressor . 10/1012003 ':: $4500:00 ; ingersolF Rand'Air Dryer;'- > 10/16/2003 $1`;500.00: SpeedAir:After Cooler -A0/10/2003 :.: $1,125:00 Electric"'Afc Tap Disintegrator : ... <' ; :: 10/10/2003 $900:00 :. Br'idgeport'15":Rota '-Table. :. .10/10/2003 $337:50 ;lane Y Et i M2!ik Soldta Wltaf. 50 NMTB Nlatefis 75.kva .501 v 7777 8, 3- ai Wdi'64"Head .wAth.Tqil6t6ck .1 Otl W 10/10/2 fOil 012 it-..'3�0: Hp • t6li i �e6 i I Oil W2. leis J., Idil 0/2 PedestaCGnn d er. hb. Sew fo/I 0/2 pppes sand cabinets 612 10/10/2 ,Z.for Wiaki . .17011 W2 4 10/2 1 61 . ..... I oll 0 2 I oil W fprmer :.l 1102 'oll 012 _ 42 ( j Tqc K '6a). I 0/i Ofte, v t chucksa Nib& ar ch66ks,'..(2 'ea 0/2,i $750,00 Z 1 0,4. :W $IT& F" "S 2,625, -3 $6,000:,W 3 -3 $187.50 0. 00 a -7. 77 '3 $1: 875.00 3 375.66: $18 3 Q'a 3 '$562. 4 3 Jr i 2.,5­66, 3 ti' :$75.00 3$15. 06 3 7 sl 'A 26-AO $1,50U.0 1,275' 40.15 85 Weider 977 $120 V oo*00 g.. 4 583. M, .. .... /T/ 994 584 rc Equipment':: .$6,384'06 1/1.0 d §44 0.44.08 Welding' ..Machine 1.211 /1 W4 1 , .00 597 e ve 'r 16 0 826.25 0 Ongj&b e:.e /199 '4 $j, 50.do.. 50.9- wel 64% pbof 9fl I 1,995 7 $1,400 00 i23, 4?,l /1'996 .00 1)201, 9to Miller I'le"': '-Wl -ld T e. 11 §96 .1 5 08' F,'brm' uil'a. 62 t&6 S' i� R6116v6g On -It $6,'665.00 44: PoftibI6 Welder k8ei6a'l :'3/1/1997 41,660,00 IL Pip Se_ve"106"W6Sin&_ ;:.411�,,1998 0;95100. 61, AetrWpadoiln-to h rc 121911999 $29,366 .00 Miller Plasma Torch 37 U-se"d.. Weld 6/2-3/20 00 $ 750.00 Wild 20.0 Ire" W eld6r, . Miller. I 10/16/2003 - 7 .56. xyA ci'y, Torch. -Set 1 off0 b/20 $112.50 ,103,926.56 - - . 1' Pnnte- 41iI993 1 $932- 50: 0 Ok,idAta Printer 0/111 w5l $1-,046.64 4. HPK'Pririters A 10/1119951 :.$1.,-105.50 :6 6 MasterCairrSci/2 pi ej;,°: 5t ti oe 633u Ftsu tVoeocak'.Goipute� (Serial.#8Y110466): - 1ITF199i' . $4;28095 634 Padoit"8�Qret:Sofiware 11.111997. ;.639 ve►�:Peni�urn.5erver Seria(#IOG=70420001:.:�2Y1!'197 640 �rldows.9aoffvre2%1!1997 Sony C a ' iop,Egrnputer: ::' ° '' 4/2312001. :$3`,3&'i 0077 Okia#a Pnntec 12124/2002 be7l,Computers� ;,.` T! F2/2003 $:12,019�00 MasteiCam'Update $_590.00' :` - : $33,'508:72 405. Phone Monitor .: = :... 2/111989 $658 37 565 ' Gellutar:Phanes::= .. :::::::: :.:::::..': .:: :.:.:.;: >' ..: 6/26(1.992 $62't:72:: Y 6Q4 Phone Equipment7/11199 $1143 35 .,';'.: _ `$2,423.44 563 1,992' GMC f7ickup 5.111:992 a99 f?fckup;'9.5 3./4T,4x4 , `, ::: r " 4i1XT995 ;:,: $27,390 $3, 63 Utili `TraiCer" 6/1f199.5 1'996;Ghi"1erVart .f. :2/1"f1996 #. ;fi32 1.996:GMib.— i Gp."12/119996 $22,023 34. 20021=orif.:Picku 3122/2002: $34;Oa:Oo: =; f2001 Chen Pickup :.;:- 0/25/2003 $20,000 00 H sier 9000 f=Qrkfiff , 10 10/2003of Datson' 5000 Forklift : ' 10/10/2003 :: ..: .:'$1•;�125.00 = $16:1 167:17 83 : Sio"rage7. 00 1.15 .66if Shelves $392:00 1'2$ Q.ffiCe Fuiriture :3/1/1879 ;$410.00 - 'f 33 8liie Lme'Maafiir)i�` ::: 5/1/1979 137 Desk: Credenza $450 00 Eqent ;, , :; :. :.' : :....:..: e uipm ' - .": `10/1f1979 ; .:...:94 $3 RNsk & :-halt ...... :. . : .:.. .: - :. . - ..:. 21111980. '' : : ` .:$.37fr 00 197` Clutch Desk ....::: :::...:. .... . ' . .. 5f171`98(i ` $342.00 :.:' 23i fettering system:CO.' : ' •' " "' ; 239 'office Egt�ipfnent : !';. ':: :...: r . '. `.: , ` ... 2/1/1982 :' :: $1;815 00 Lateral File : -,.;.: .:.: • .:...:.n :: :10>'111983 _ . ::: $286 00 .; z9'4: .T pev+iriter 811%1.984 :': >`' `''. ` $2;947.00 .` 327 fce Machine: 33.1- : •File Cabinet ' : 4/1 C1986 ':: ' ,$275 00 i43 Office Equipment. :. : _ ... 11 %1:;1.986 :.:...; `$2,287.00- . ". ►99... Calculator..:. - :... 1l1989 1/ 1;z; Desk BMat.-: "5/1/1989 73 :. 8 vC- R: far Classroorrt :.:. 1011%1989..:. " $973.00 71: Books:for Classes :.. :-... : ' :-:. .1.1/111969 '; ,.: $1,218.00 95: Books - •::... --..:; ... ... ..... .... ..- . • 1.2/1 /1989 :.. $89.50 09 Desk : :.. 2/V1990 $400.00: 1.3' Books TPC'Training `, 3/111990 - :' . :.$3;604.63 M Table:& Chairs- `::. 4/1/1990 $646.20 15:.; ' Desk .:" - .::` ;: , ::.: =:: 6/1 /1990 $159:00 t1'. Desk-;.; :....: 11/1/1990 $500.00 49:. 6 I I&O.wavs .: :.:..:._:...-. _ :: . ; : " ... .. _ ....: 2/111990 "574 ND`Pa "er"SHredder:: :..: `.._:;.:...:: • :.:.,.." .. , ":;• 8/'f/1993 : : " : ' $1,299:97 5.7.5 :: _.:::.::._ . . 'office E ui merit:; 101111._993 r.::$499'00 598-' Office.:.Cfiairs.,Sam'sClub.'$860.28 fi1"1 VCR 9!'l11995 612 :.Office Furniture -Spencers : 4/1 1995 `° ;-$F;i$8 < $29,675.00 Boom 89' Pattern Egai meet :"" :: l0l1l1977 .> ="$2,053 06 ": =. 123 Pattern:E" "i1i rrier►t:,' :?Jsf'1979 $4`614`a@ S' :283' Paifefi 'Equr riient 6/1/1983 251 Pattern- Equipment " . .: " • ° .. > , , .: " " . " 671/1983 . `$790A0 : . ; .: "; 259 Paiterri Equipment. < .:: :.:..::; : <:" ..:::. ".: ` .. ...:. ". , : ' : - ; ` 6/fi<1983 : $790, 00 :'263' .Patterit.Equi `rrie"nf " : ". ,: v :, ; . ;:' ;:: ° "" : "fi�1'h983 s : •: : ; $T90;00. . 265 Patfer`Egu� menu :' 9%1%1983 '. 510,74$.00 2G7 Tooltng"Equfpmerr# . :: ':: " '9l1f1983.. $10;99&00: ; 269 Patferir Equi`.i»nt .9/1X19$3 $52000 10/1!'f9g3 `F7`5 Paifern'E rpirient." "11l1%1983 A. 2366 :27T�, , P. ai#ertr Egtripirtent 12lil19g3 - $780:Op 30T Taps 3:11::.Worklrrg:ltlr�gs.: ..:.:::: `.:. " " , °; ". " :10%�11,985 $4;609:'00:: 3fi5; "Pai<tern EquEpment ;:• :..:'..:;.." .:.: ",: ".;,":..:..`..:... .; : "." ".' : " t1l1l1985 ..:: " :: :' : :'Y 1.00 31:T Match Plates 1214985 $4,5Q4.110 319 8umfshiitg 7001:: _ ........ 12I111985" 30 ° Palfern :Eguiprgent .:.... : • ., . ,: , :..: • "' :. "... ; '"1!1%1'986 ,• $1 b90a�0. 329 Patern.Eguipritent ": " :: :.'.." ".::. " -: '.":.: ` ; .. d/1/1986 : ": . " _'$2;152:0© 333. Pattern Equipment °.`, " .""" ' :: "". , ":.:.:'•. :. , 339 Patiern'Equlpmerit 10l1l1986 $92500.: 341 : Shop Equi "me4, :. ,..: ; ",::..: ..:1.0/1/1986 .. r" $695.Q0. . 345.. Shop Equiprient ' . :;: - ': •. , .." . ", ::.... . ` "". " • 1Zl1I1986 : - �•"• .•$3,514:00 �:� 191:.-" inserts:: �•" .� 393 Mandrel."Set`. .:' :... :. .` . •. :.. 1/1/1'989. -... "_ •. .::: " $1131.7:25 T9T ; Burnlshlrtg'Toot : ': =. 989 ' $452:30 .Tap chaser - 2/1/?909 < ':. ," ":'. : $728.30 ` !03; T.ap Chaser: ": ` •:.:..::..:: ::.: " :.: Z/1l198� .. .:$605:33 ; or.,: 2`T,,.,.."...:"° 3!1/1989 ':-: `< : :. 51;119,00 . 45. 5 iderPattern. <: ...: :..::." : 8/1/1989 ',=. $54600 &3" Ta Chaser= "•' :::...:::. " :. "° :.:: :. 1'1%1f1.s89. $986.00 S Spiral Tap` : :.. ". 1 f%tH,.9 `. "$200:00 : :• 47.:. Tap:"Case' :::..; ". •. " :.:..: :: _-.: :. �:::1 TJ1/19ti9 : ` .. :: 8576:00 31:50..• j:....: ►3' Fap2/1/1990. . _ : • :5><,13r 60 ►5: Tap Chasers . " :: T11%1999' ." $1,14000 T. Tap.Ctiasers . $48800;. 1. Ta " Chisw ti1l1990 :" $568:00 T: "Teledyne Landis = Chaser :. 4/1/1990 $580;10 _5 Probasco` De sign` "::': M/ 1-990 $1;200.00" ,. Oven : =: ., , `" :.. :: 1.1 fl /2004 $4000.00 :.. ...:: . . Blast Booth .::.. •, proposed $65,000.00• . No Text LAMB COUNTY TAX OFFICE LINDA CHARLTON, TAX A/C (806) 385-4222 EXT 230 COURTHOUSE #105 LITTLEFIELD, TX 79339--3302 JVMIpLM IIVFN NOMEB'TFAD�UMIT CITY OF LITTLEFIELD 0 LAMB CO & CO HOSP 0 HI6HPLAINS WATER DIST 0 LITTLEFIELD I SD 0 IF TAXES ARE PAID IN: LESS (-) DISCOUNT OR PLUS (+) PENALTY/INTEREST STATEMENT E.D. OC, T � --165. 5`3 191 510. 76 NOS —110. 39 VALUE 19,565.9S DEC —55. 19 19, 621. 15 LAND -AG -MKT JAN 0% 0. 00 19, 676. 34 LAND -AG -USE FEB 7 e 1, 377. 34 21, 053. 68 LAND-HOMESITE MAR 9% 1, 770. 87 21, 447. 21 LAND -OTHER APR 11 % 2, 164. 39 . .1mOPM srcEENT 21,840.73 KAY 13! 2, 557. 93 . y+�{ 22, 234. 2 f OTHEFlVEMENT 9 79 TOTAL APPRAISED ALASSES$ED EXEMPTIONS TAXABLE VALUE TAX RATE 714,490 0` 714, 490 0.5614 714,490 0 � 714,490 : 0.7642 714, 490 0 714, 490 0. 0,083 714,490 0 ° 714, 490 1 . 4200 1 N060540 . PROPEfiTY- DESORIPT(QN .. NSOS03 9900120--60540 LEASE # 9900120 INVENTORY, 0 SE ACRES W€�tYLON JENNINGS 1012 LITTLEFIELD, TX 74?339-4160 1 NA U TAX STATEMENT 2004 LAMB COUNTY TAX OFFICE LINDA CHARLTON, TAX A/C (806) 385-4222 EXT 230 COURTHOUSE #105 LITTLEFIELD, TX 79339-3302 N060540 s LITTLEFIELD#- - _« D VALOREM TAXES hRE DUE ON OCT 1st AND BECOMEi IF NON BLANK, YOUR EUNOVEN7 FEB tst. SEE REVERSE SIDE FOR iNSTRUCT10N5 MORTGAGE COMPANY H, ND tI1APORTANT INFORMATION. - NOTIFIED OF TAXES DUE. 0 STATEMENT I.D. LAND -AG -MKT % f l , 727. C]R ( Ph , 41 '-3 ,$ 0 G LAND-HOMESITE N50504 9900140-60540 LEASE # 9900140 MACHINES & TOOLS, O ACRES LAMB COUNTY TAX OFFICE LINDA CHARLTON, TAX A/C (606) 38S-4222 EXT 230 COURTHOUSE #105 LITTLEFIELD, TX 79339-3302 • • STATEMENT E.D. IF TAXES ARE PAID IN: LESS (-) DISCOUNT OR PLU$ (*) - PENALTY% INT.ERE8T ' OC T --1.9. 89 2,344.88 VALUE Nov # : --13. 27 2) 35.1. =0 (', # -6. 63 LAND -AG -MKT 2/ 358. 14 .1'F -N 0% .0- 0.01 2, 364. 77 : LAND -AG -USE FES 7.7.. 1.65_ 53 : =', S CE. 3Q LAND-HOMESITE 'A 9y + 3 r 57 E AtRI©-OTHER APR. 260 � 6y24. 9Q HOMESREENT 71%; e��# `i 2- !2, 2 U 7 ; TOTAL APPRAISED sd F:?2 .yY4 Y - HBL Letfi`; i CE7Tf p y?>E?E biV 'Eh)C1ie TAB ELATE It TY OF LITTLEFIELD 0, 85,13700; 1.5, H70 0_ 614 1 t 8�'0`7'} 7 Es42 �H, I 0t-!PLAINS WATER D I ST 0 ; -N. 870 0 8'��+, y?rC1 a. 0Ct}33 0 ....a:7 'X 0 :1 42}0 I f' , 4L N060540 N50505 9900160-60540 DISCOUNT'`Y LEASE # 9900160 WELDING PENOR ALTY V T S EQUIPMENT, 0 ACRES NTEREST 1012 E WAYLONI JENNINGS LITTLEFIELD, TX 79339-4160 � SK7411ATURE • • • • • • .. .. <. I'�Eb.cl.n .:'�' 'fir • • •- •••- 12. 0 12. 0 TAX STATEMENT 2004 LAMB COUNTY TAX OFFICE LINDA CHARLTON, TAX A/C (806) 385-4222 EXT 230 COURTHOUSE #105 LITTLEFIELD, TX 79339-3302 N060540 1012 E WAYLON LITTLEFIELD, TX t O VALOREM TAXES ARE OUE ON OCT 1st AND BECOME IF NON BLANK. YOUR ELINOUENT FEB tst. SEE REVERSE SIDE FOR INSTRUCTIONS MORTGAGE COMPANY H+ ND IILIPORTANT INFORMATION. NOTIFIED OF TAXES DUE, l STATEMENT I.D. + _ „. r +..m �C:.. .OQ'LAND AG -MKT N50507 9900180-60540 LEASE # 9900180 COMPUTERS, 0 ACRES 12.012.0 ;`sIz f..,.AMB COUNTY TAX OFFICE LINDA CHARLTON• TAX Ai i (806) 385-4222 EXT 230 COURTHOUSE #105 LITTLEFIELD, TX r 9339--3302 CITY OF LITTLEFIELD -- - 0 LAMB CO- & €:O . HOSP 0 HIOHFLAINS WATER LIST 0 LITTLEFIELD I.SD 0 N060540 ' IF TAKES ARE PAID IN: LESS (-) DISCOUNT OR PLUS (+) PENALTY / INTEREST OCT # --0. i 1 . NOV -0.07 DEC -0.03 JAN 0 0. 00 FEB 7% 0.92 MAR 9 1. 18 APR 11% 1. 45 MAY 13% 1.73: JUN i s% 1. 98 TOTAL ASSESSED EXEMPTIONS °' STATEMENT I.D. 1 .3. 11 VALUE: 13. 15 I 13 19 LAND —AG —MKT j 13. 22 LAND —AG -USE 14. 14 LAND—HOMESITE 14. 40 LAND —OTHER 14. 67 HOME SITT�E1ENT 14. 95 oTpRiE°R EMENT 15, 20.TOTAL APPRAISED XABLE VALUE TAX RATE 480 0 480 0. 5614 480: 0 430 0. 7642 460 0. 480 0. 00S3 480 0 480 1. 420t ■ LITTLEFIELD, TX 79339-4160 AD VALOREM TAXES ARE DUE ON OC7 1st AND BECOME ,F NON BLANK. YOUR DELINQUENT FEB 1st. SEE REVERSE SIDE FOR INSTRUCTIONS MORTGAGE COMPANY HI AND IMPORTANT INFORMATION. NOTIFIED OF TAXES DUE, TAX STATEMENT 2004 LAMB COUNTY TAX OFFICE LINDA CHARLTON, TAX A/C (806) 385=4222 EXT 230, COURTHOUSE #105 LITTLEFIELD, TX 79339--3302 N060540 ■ LITTLEFIELD, TX _• VALOREM TAXES ARE DUE ON OCT ist AND BECOME1 IF NON BLANK, YOUR LINOUEN7 FEB 1st. SEE REVERSE SIDE FOR 1 MORTGAGE CO(t9PANY W D IMPORTANT INFORMATION. NOTIFIED OF TAXES DUE- l PROPER DESCRIPTION N50508 99002OO-60540 LEASE # 9900200-COMMUNICATIONS EQUIPMENT, 0 ACRES r.=: umec:x wv:::. STATEMENT I.D. 'ILAND-AG-MKT I & ' LAND-HOMESITE AP N50510 9900220-60540 LEASE # 9900220 VEHICLES, 0 ACRES LAMB COUNTY TAX OFFICE LINDA CHARLTON, TAX A/C (S06) 3SE-4222 EX.T 230 COURTHOUSE #105 LITTLEFIELD, TX 79339-3302 .rvnoun.. war HOMESTEAD L1Mff CITY OF LITTLEFIELD 0 LAMB CO & CO HOSP 0 HIGHPLAINS WATER DIST 0 L I TTLEFI ELF) I SD 0 N060540 F TAXES ARE PAID IN; LESS (-) DISCOUNT OR PLUS (+) PENALTY, INTEREST STATEMENT I.C. OCT -1. 38 162. 47 VALUE NOV -0. 92 162. 93 DEC -0. 46 LAND :4G-MYCT 163. 39 JAN 0 r 0. 00 163. 35 LAND -AG -USE FEB 7 11.47 175.'32.LAND-HOMESITE MAR 9 f 1 4. 7 5 178. 60 . LAND -OTHER APR 1 1 /f, .18. 01 � 181.86 IHOME S"EMENT MAY 13 /.: 21. 29 1$5. 14.IMPRO OTH RVEMENr O 4. S 7 JeS. 42 TOTALAPPRAISED SSESSED EXEMPTIONS. TAXABLE VALUE TAX RATE 5, 950 0 5, 950 0. 5614 5, 9510 0. 5, 950 0.7642 51950 0 51950 , 0. 0083 51950 t3 ` 5, 950 � 1. 4200 V T S 1012 E WAYLON JENNINGS LITTLEFIELD, TX 79339-4160 TAX SYATEMtNT 2004 LAMB COUNTY TAX OFFICE LINDA CHARLTON, TAX A/C (806) 385-4222 EXT 230 COURTHOUSE #105 LITTLEFIELD, TX 79339-3302 N060540 V T S 1012 E WAYLON JENNINGS LITTLEFIELD, TX 79339-4160 N50509 9900240-60540 LEASE # 990024CL OFFICE FURNITURE, 0 ACRES PAM STATEMENT I.D. LAND -AG -MKT N50506 9900260--60540 LEASE # 9900260 MISCELLANEOUS TOOLING, O ACRES No Text No Text P e f g o •Lubbo'dk:Centtal Appraisal District'. 2004 Current,Vaiues". '.: -. Sy i s, o• eS :. .. Home' ''' =" Vie es. ` Htstorj� Datash�et�w .$ketch -. �It►-a9... r .. . . _ • l.• i Gertersi Inofti7.ation Owner information • 4 .. M14e s w O ID• Owner 3 3 654 ' ;..- :. • ' Owner ante: '. EAGI_E�PICHER'IND.INC'. , : _.• ...:: ^ ..::..• • �.�.. �..: N" ,• : `,. ;'; . `�°.,:`.: .:e: Owner Address _ATTN FI ON WRIGHT PO 80)(179. .:.�:� . CIN.CINNATI,OH 45201-077�9''.: ' i :Toxin ;Units ' ... .:.........,.• 9 -:i'er .. e `Pr Addr ess: � 1802 E 50TH•ST Op. dX aa�tp2yinfd'� :F' B "C L U BO r ' • i ar P "n �, ri t G �!. a. .�n e , is Q it e . :3 a ch Parcel I tion nforma s ° .Owner:Sea,Cctt; legal Description: _ BREEDLOVE TR A 13 8 C ` Acreage: .. ad lresss '$tin,- . . ... - .... Cross Reference: iZ107400-00010-00000-000: - er` • ndivded int est'�T .>I' ���Exenti'ta``ri Codes•.. .. .4 Eode GkB:7l.ubbock Go"tintyy'` ' • ' . .ALB (Caty Of Lutibockj .' s : Iaetaif Siisei 'SLB (Lubl ock ISD) . H& (Lubb Cnfyi Hospital) • ' 4. Htstary. W.HP (HI Plains Water) } . :Sketch-. DeeifType Deed Book . s:-datasheet Deed. Page: r Map Page: - • .":. V' - alues Breakdown 2004 (Work in Progress)so :� ..: Improvement HS: $0:+ ' Improvement NHS.,- $2,046,400 + Ag Market; $0 " -A g, Use $0 . Tmher Market :TimTier t1'se:. $0 + .. ' s es e 2 230 3$4 . . Improvements i .. Type ' '.: ' SPTS $eg;.. ' Value: Imp1. A (Mist. Improvement} F2 (F2 - Real Industrial) 1 $ 2,0413 400 Iri.p2 .l. (Mist. ' Improvement)-. 'F2 (F2 -.Real ,Industrial) :9 $ 0 : Imp3 I (Mist: linprovement} F2 (F2 = Real Industrial)` ' `3 $ 0 - Imp4 `i (Mist. Improvement) .F2 (F2 -Real Industrial) 3 $ 0 .. Land. :. ; : ' • :• .. http://www.lubbockcad.,org/Appraisal/PublicAccess/PropertyDetaiLaspx?PronertvID=78... 12.11 tl/?nn4 Pa e2` f2 a Y.P SF'3 Ej 8 �Ma k t`� Larid1- 6(Commeraaq `` F2 (F2 ' Rea!'Indusi4i) , �d2: C (Corrimerdal) :. 1=2 (F2 =Rear Industrial) $ 01'. 82` :S .. • ri F - "Y r 3: r C http://wvrw.lubbockcad.org/Appraisal/PublicAccess/PropertyDetail.aspx?PronertvID=7R..'. Attachment 2 to Industrial Tax Abatement Application for Vertical Turbine Specialists, Inca Vertical Turbine Specialists, Inc. proposes to renovate offices and the manufacturing facility located at 1802 50t' Street, Lubbock, Texas 79404 (West Building) and install manufacturing equipment that is currently located in Littlefield, Texas. Proposed improvements include, as follows: a. Removal or relocation of walls in the office building: $250,000.00 b. Installation of new flooring in the office building: $45,000.00 c. Asbestos abatement throughout the offices and manufacturing building: $35,000.00 d. Construction of 925 linear feet of interior walls in the manufacturing building: $80,000.00 A list of equipment to be installed is attached. There is no Tangible Personal Property presently existing on the Real Property or located in an existing facility. The proposed improvements are scheduled to begin in December 2004 and be completed in January 2005. Upon completion of building renovations, installation of machinery will commence and is expected to be completed by March 2004.