Leasing Levy. The leasing levy authorized for the lease of the Project Building pursuant to the Lease Agreement shall be divided among the Participating Independent Districts in the manner provided in the Lease Payment Allocation Formula specified in EXHIBIT A attached hereto and incorporated herein by reference. Any lease payments to be made pursuant to the Lease Agreement which are not eligible for the leasing levy shall also be apportioned to the Participating Independent Districts pursuant to the Lease Payment Allocation Formula set forth in EXHIBIT A attached hereto. Prior to August 15 of each year, SPEC shall give written notice to each Participating Independent District of the amount of the leasing levy, calculated based on this formula, to be certified by that Participating Independent District under this subdivision in that year and any additional amount apportioned to that Participating Independent District which is not eligible to be paid by the leasing levy. Any amounts treated as Project Building Rent under the Lease Agreement or the related financing documents shall be treated as additional rent, and shall be included as a part of the leasing levy or additional apportionment under this subdivision. This subdivision may be amended by resolutions adopted by the school boards of the Collaborating Districts if the amendment does not violate the provisions of any of the documents executed to provide the financing for the Project Building. Unless this Agreement is amended to the contrary, at the expiration of the Lease Agreement and after the repayment of the financing, the title to the real and personal property financed shall vest in SPEC.
