Refunds and Underpayments of Annual Sales Tax Grants. In the event the State of Texas issues a final determination that the City erroneously received (or failed to receive), for the benefit of the City, Sales Tax Receipts, or that the amount of Sales and Use Tax paid by Home Depot exceeds (or is less than) the correct amount of Sales and Use Tax for a previous Sales Tax Reporting Period, for which Home Depot and Developer have received an Annual Sales Tax Grant, Home Depot shall, within sixty (60) days after receipt of notification thereof from the City specifying the amounts by which such Annual Sales Tax Grant exceeded (or was less than) the amount to which Home Depot and Developer were entitled pursuant to such State of Texas determination, adjust (up or down, depending on the facts) the amount claimed due for the Annual Sales Tax Grant payment for the Sales Tax Reporting Period immediately following such State of Texas determination. If Home Depot does not adjust the amount claimed due for the Annual Sales Tax Grant payment for the Sales Tax Reporting Period immediately following such State of Texas determination the City may, at its option, adjust the Annual Sales Tax Grant payment for the Sales Tax Reporting Period immediately following such State of Texas determination. If the adjustment results in funds to be paid back to the City for the benefit of the City, Home Depot shall repay their respective amounts to the City within ninety (90) days after receipt of such State of Texas determination. As a condition precedent to payment of such refund, the City shall provide Home Depot with a copy of such determination issued by the State of Texas. If the adjustment results in additional funds to be paid to Home Depot, the City shall pay such amount to Home Depot as part of the next Annual Sales Tax Grant payment. The provisions of this Section shall survive termination of this Agreement.
