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6. UCRC and the City will cooperate in seeking to improve, intensify <br /> and facilitate University City Code enforcement. The City will be <br /> responsible for issuing notices of violation, refusing occupancy permits <br /> where outstanding notices of violations exist and, generally, encourage <br /> court enforcement of code violations. The City, to the extent that its <br /> manpower allows, will maintain continuous exterior building inspections <br /> within the Parkview Gardens Project Area. <br /> 7. Any investor acquiring fee simple title to the property within the <br /> } <br /> project area from the UCRC in accordance with the foregoing procedures will <br /> be entitled to consideration for the ad valorem tax abatement benefits of <br /> ' Chapter 353.110 R.S.Mo. , 1978, as amended, for a period not exceeding 25 <br /> years from the commencement of such tax abatement, or for some portion of <br /> the benefits detailed in Chapter 353.110 R.S.Mo. , 1978, as amended, as <br /> approved by the City Council of University City; provided that, with respect <br /> to property owned by the investor and taxed pursuant to Chapter 353.110 <br /> R.S.Mo. , 1978, as amended, the investor, and its successors and assigns will <br /> pay to the City annually in addition to the ad valorem taxes computed <br /> thereunder, an amount equal to the amount by which the tax payable pursuant <br /> to Chapter 353.110 R.S.Mo. , 1978, as amended, is less than the tax which <br /> would have resulted in such taxable year against such property, had the <br /> assessed valuation of such property (land and improvements) remained the <br /> same as the assessed valuation of said property (land and improvements) on <br /> the first day of January of the calendar year in which the investor acquired <br /> title to the property. <br /> In the event of a sale or the disposition by the investor of real <br /> property to which the ad valorem taxes abatement benefits of Chapter 353.110 <br /> R.S.Mo. , 1978, as amended, apply, whether by reason of the foreclosure of <br /> -75— <br />