FINANCIAL ASSISTANCE AND RECAPTURE OF BENEFITS. Section 4.1 In accordance with the Resolution and the Cost-Benefit Analysis (or such other equivalent document or report, as determined by the Agency) (the “CBA”), attached hereto as Exhibit A, disclosed by the Agency at its public hearing for the Project (the “Public Hearing”), the Company further: (i) covenants, with respect to the Sales Tax Exemption, that it shall comply with this Project Agreement, specifically, but not limited to, Section 4.3 hereof; (ii) confirms that the Mortgage Recording Tax Exemption (as defined in Section 4.7 hereof) shall not exceed the Maximum Mortgage Principal Amount, as more fully described in Section 4.7 hereof (it being understood and agreed that nothing herein shall prohibit the Company from obtaining a mortgage if it pays the Mortgage Recording Tax applicable); and (iii) confirms that the real property tax abatement to be provided to the Company shall conform to those disclosed within the CBA at the Public Hearing for the Project and as contained within the PILOT Agreement, the form of which PILOT Agreement is attached hereto as Exhibit A.
Appears in 9 contracts
Samples: Uniform Project Agreement, Uniform Project Agreement, Uniform Project Agreement
FINANCIAL ASSISTANCE AND RECAPTURE OF BENEFITS. Section 4.1 In accordance with the Resolution and the Cost-Benefit Analysis (or such other equivalent document or report, as determined by the Agency) (the “CBA”), attached hereto as Exhibit A, disclosed by the Agency at its public hearing for the Project (the “Public Hearing”), the Company further: (i) covenants, with respect to the Sales Tax Exemption, that it shall comply with this Project Agreement, specifically, but not limited to, Section 4.3 hereof; (ii) confirms that the Mortgage Recording Tax Exemption (as defined in Section 4.7 hereof) shall not exceed the an amount based upon Maximum Mortgage Principal Amount, as more fully described in Section 4.7 hereof (it being understood and agreed that nothing herein shall prohibit the Company from obtaining a mortgage or mortgages in a greater amount if it pays the excess Mortgage Recording Tax applicableapplicable over the Maximum Mortgage Recording Tax Exemption); and (iii) confirms that the real property tax abatement to be provided to the Company shall conform to those disclosed within the CBA at the Public Hearing for the Project and as contained within the PILOT Agreement, the a form of which PILOT Agreement is attached hereto as Exhibit A.
Appears in 3 contracts
Samples: Uniform Project Agreement, Uniform Project Agreement, Uniform Project Agreement
FINANCIAL ASSISTANCE AND RECAPTURE OF BENEFITS. Section 4.1 In accordance with the Resolution and the Cost-Benefit Analysis (or such other equivalent document or report, as determined by the Agency) (the “CBA”), attached hereto as Exhibit A, disclosed by the Agency at its public hearing for the Rental Project Component (the “Public Hearing”), the Company further: (i) covenants, with respect to the Sales Tax Exemption, that it shall comply with this Project Agreement, specifically, but not limited to, Section 4.3 hereof; (ii) confirms that the Mortgage Recording Tax Exemption (as defined in Section 4.7 hereof) shall not exceed the an amount based upon Maximum Mortgage Principal Amount, as more fully described in Section 4.7 hereof (it being understood and agreed that nothing herein shall prohibit the Company from obtaining a mortgage or mortgages in a greater amount if it pays the excess Mortgage Recording Tax applicableapplicable over the Maximum Mortgage Recording Tax Exemption); and (iii) confirms that the real property tax abatement to be provided to the Company shall conform to those disclosed within the CBA at the Public Hearing for the Rental Project Component and as contained within the PILOT Agreement, the a form of which PILOT Agreement is attached hereto as Exhibit A.
Appears in 1 contract
Samples: Uniform Project Agreement
FINANCIAL ASSISTANCE AND RECAPTURE OF BENEFITS. Section 4.1 In accordance with the Resolution and the Cost-Benefit Analysis (or such other equivalent document or report, as determined by the Agency) (the “CBA”), attached hereto as Exhibit A, disclosed by the Agency at its public hearing for the Project (the “Public Hearing”), the Company further: (i) covenants, with respect to the Sales Tax Exemption, that it shall comply with this Project Agreement, specifically, but not limited to, Section 4.3 hereof; (ii) confirms that the Mortgage Recording Tax Exemption (as defined in Section 4.7 hereof) shall not exceed the amount of the Maximum Mortgage Principal Amount, as more fully described in Section 4.7 hereof (it being understood and agreed that nothing herein shall prohibit the Company from obtaining a mortgage if it pays the Mortgage Recording Tax applicable); and (iii) confirms that the real property tax abatement to be provided to the Company shall conform to those disclosed within the CBA at the Public Hearing for the Project and as contained within the PILOT Agreement, the a form of which PILOT Agreement is attached hereto as Exhibit A.
Appears in 1 contract
Samples: Uniform Project Agreement
FINANCIAL ASSISTANCE AND RECAPTURE OF BENEFITS. Section 4.1 In accordance with the Resolution and the Cost-Benefit Analysis (or such other equivalent document or report, as determined by the Agency) (the “CBA”), attached hereto as Exhibit A, disclosed by the Agency at its public hearing for the Project (the “Public Hearing”), the Company further: (i) covenants, with respect to the Sales Tax Exemption, that it shall comply with this Project Agreement, specifically, but not limited to, Section 4.3 hereof; (ii) confirms that the Mortgage Recording Tax Exemption (as defined in Section 4.7 hereof) shall not exceed the Maximum Mortgage Principal Amount, as more fully described in Section 4.7 hereof (it being understood and agreed that nothing herein shall prohibit the Company from obtaining a mortgage if it pays the Mortgage Recording Tax applicable); and (iii) confirms that the real property tax abatement to be provided to the Company shall conform to those disclosed within the CBA at the Public Hearing for the Project and as contained within the PILOT Agreement, the form of which PILOT Agreement is attached hereto as Exhibit A.
Appears in 1 contract
Samples: Uniform Project Agreement
FINANCIAL ASSISTANCE AND RECAPTURE OF BENEFITS. Section 4.1 In accordance with the Resolution and the Cost-Benefit Analysis (or such other equivalent document or report, as determined by the Agency) (the “CBA”), attached hereto as Exhibit A, disclosed by the Agency at its public hearing for the Project (the “Public Hearing”), the Company further: (i) covenants, with respect to the Sales Tax Exemption, that it shall comply with this Project Agreement, specifically, but not limited to, Section 4.3 hereof; (ii) confirms that the Mortgage Recording Tax Exemption (as defined in Section 4.7 hereof) shall not exceed an amount based upon the Maximum PILOT Mortgage Principal Amount, as more fully described in Section 4.7 hereof (it being understood and agreed that nothing herein shall prohibit the Company from obtaining a mortgage if it pays the Mortgage Recording Tax applicable); and (iii) confirms that the real property tax abatement to be provided to the Company shall conform to those disclosed within the CBA at the Public Hearing for the Project and as contained within the PILOT Agreement, the a form of which PILOT Agreement is attached hereto as Exhibit A.
Appears in 1 contract
Samples: Project Agreement