Common use of Tax Exemption; Payment in Lieu of Taxes Clause in Contracts

Tax Exemption; Payment in Lieu of Taxes. In consideration of the issuance by the City of its industrial revenue bonds in the principal amount of $8,400,000 (the “Bonds”) to finance the cost of acquiring, constructing, equipping and furnishing an office facility and maintenance and storage facility, including buildings, improvements and equipment as described on Exhibit A (the “Project Improvements”), located on real property in the City as described on Exhibit B (the “Project Site,” and together with the Project Improvements, the “Project”), to be leased by the City to the Company, and in consideration of Company’s execution of the Lease dated as of __________1, 2020 (the “Lease”), as may be amended from time to time, between the City and the Company, pursuant to which the Project is leased to the Company, and in further consideration of the laws of the State of Kansas granting an exemption from real and personal property taxation for the portion of the Project purchased with the proceeds of the Bonds for the period of up to 10 years, commencing with the first calendar year after the calendar year in which the Bonds are issued, the Company agrees to make payments in lieu of ad valorem property taxes in the amount specified herein and in the manner provided for herein, and the City agrees to apply for an ad valorem property tax exemption for such portion of the Project for the 10 year period herein described.

Tax Exemption; Payment in Lieu of Taxes. In consideration of the issuance by the City of its industrial revenue bonds Industrial Revenue Bonds pursuant to K.S.A. 12-1740 et seq. in the aggregate principal amount of not to exceed $8,400,000 14,500,000 (the “Bonds”) to finance the cost acquisition, construction and equipping of acquiring, constructing, equipping and furnishing an office facility and maintenance and storage facility, including a multi-family residential development consisting of approximately 103 multi-family units located within two (2) buildings, improvements site infrastructure and equipment as described other site amenities on Exhibit A approximately 3.56 acres (the “Project Improvements”), located on real property in the City as described on Exhibit B (the “Project Site,” and together with the Project Improvements, the “Project”), ) to be leased by the City to the Company, or its successors and assigns with City consent, (the “Lessee”) in consideration of CompanyLessee’s execution of a Lease Agreement. The Project is the Lease dated as second phase of __________1, 2020 the adjacent Waterside Residences on Quivira multi-family residential development project currently under construction (the “LeasePhase One Project”), as may be amended from time to time, between the City and the Company, pursuant to which the Project is leased to the Company, and in . In further consideration of the laws of the State of Kansas granting an exemption from ad valorem real and personal property taxation for the portion of the Project purchased with the proceeds of the Bonds for the period of up to 10 ten (10) years, commencing with the first calendar year after the calendar year in which the Bonds are issuedissued (“Abatement Period”) for the portion of the Project acquired or constructed with up to $14,500,000 in Bond proceeds and described in the Indenture, by and between the City and the applicable bond trustees, authorizing said Bonds, Company agrees to make payments in lieu of ad valorem real and personal property taxes (also referred to as a “PILOT”) in the amount amounts specified herein and for the term of the Abatement Period in the manner provided for herein, and the City agrees to apply for an ad valorem property tax exemption for such . Each portion of the Project for acquired or constructed with the 10 year period proceeds of the Bonds up to an aggregate amount of approximately $14,500,000 is referred to herein describedas the “Tax Abated Project Portion”.

Tax Exemption; Payment in Lieu of Taxes. In consideration of the issuance by the City of its industrial revenue bonds Industrial Revenue Bonds (Taxable Under Federal Law), Series 2017 in the principal amount of not to exceed $8,400,000 2,000,000 (the “Bonds”) to finance the cost acquisition and construction of acquiringa commercial building (referred to as Building E) and located at or near 00000 X. 000xx Xxxxxxx in Lenexa, constructing, equipping and furnishing an office facility and maintenance and storage facilityKansas, including buildingsreal estate, building and improvements and equipment as described on Exhibit A Xxx 0 xx xxx Xxxxx Xxxx of the Xxxxxxx Business Center (the “Project Improvements”), located on real property in the City as described on Exhibit B (the “Project Site,” and together with the Project Improvements, the “Project”), ) to be leased by the City to RJB in accordance with that certain Lease Agreement dated , 2017, by and between the Company, City and in consideration of Company’s execution of the Lease dated as of __________1, 2020 RJB (the “Lease”), as may be amended from time to timeand subsequently subleased by RJB, between the with City and the Company, consent pursuant to which the Project is leased to terms of the CompanyLease, and in further consideration of the laws of the State of Kansas granting an exemption from ad valorem real and personal property taxation for the portion of the Project purchased acquired, constructed and equipped with up to $2,000,000 in proceeds from the proceeds Bonds and described in that certain Indenture dated as of , 2017 (the “Indenture”), by and between the City and (the “Trustee”), authorizing the Bonds for the period of up to 10 ten (10) years, commencing with the first calendar year after the calendar year in which the applicable series of the Bonds are issuedissued (“Abatement Period”), the Company RJB agrees to make make, or cause to be made, payments in lieu of ad valorem real and personal property taxes in the amount amounts specified herein and in the manner provided for herein, and the City agrees to apply for an ad valorem property tax exemption for such . Each portion of the Project for acquired or constructed with the 10 year period proceeds of the Bonds up to an aggregate amount of approximately $2,000,000 is referred to herein describedas the “Tax Abated Project Portion”.

Tax Exemption; Payment in Lieu of Taxes. In consideration of the issuance by the City of its industrial revenue bonds in the maximum principal amount of approximately $8,400,000 77,500,000 (the “Bonds”) to finance the cost of acquiring, constructing, equipping and furnishing an a warehouse, distribution, and office facility and maintenance and storage facility, including buildings, improvements and equipment as described on Exhibit A B (the “Project Improvements”), located on real property in the City as described on Exhibit B A (the “Project Site,” and together with the Project Improvements, the “Project”), to be leased by the City to the Company, and in consideration of Company’s execution of the Lease dated as of __________1, 2020 2022 (the “Lease”), as may be amended from time to time, between the City and the Company, pursuant to which the Project is leased to the Company, and in further consideration of the laws of the State of Kansas granting an exemption from real and personal property taxation for the portion of the Project purchased with the proceeds of the Bonds for the period of up to 10 years, commencing with the first calendar year after the calendar year in which the Bonds are issued, the Company agrees to make payments in lieu of ad valorem property taxes in the amount specified herein and in the manner provided for herein, and the City agrees to apply for an ad valorem property tax exemption for such portion of the Project for the 10 year period herein described.

Tax Exemption; Payment in Lieu of Taxes. In consideration of the issuance by the City of its industrial revenue bonds pursuant to K.S.A. 12-1740 et seq. in the aggregate principal amount of not to exceed $8,400,000 5,100,000 (the “Bonds”) ), in a single series, to finance the cost of acquiring a leasehold interest in certain real property and acquiring, constructing, constructing and equipping a commercial office and furnishing an office warehouse facility and maintenance and storage facility, including buildings, improvements and equipment as described on Exhibit A to be located at 0000 Xxxxxxxx Xxxxxxx (the “Project Improvements”), located on real property in the City as described on Exhibit B (the “Project Site,” and together with the Project Improvements, the “Project”), ) to be leased by the Company to the City pursuant to a Base Lease (the “Base Lease”), and leased back from the City to the Company, or its successors and assigns with City consent pursuant to a Lease Agreement (the “Lease”), and in consideration of Company’s execution of the a Base Lease dated as of __________1, 2020 (the “Lease”), as may be amended from time to time, between the City and the Company, pursuant to which the Project is leased to the Company, and in Lease. In further consideration of the laws of the State of Kansas (the “State”) granting an exemption from ad valorem real and personal property taxation for the portion of the Project purchased with the proceeds of the Bonds for the period of up to 10 five (5) years, commencing with the first calendar year after the calendar year in which the Bonds are issuedissued (“Abatement Term”) solely for the portion of the Project acquired or constructed with Xxxx proceeds and described in the bond trust indenture, by and between the City and the bond trustee named therein, authorizing said Xxxxx, Company agrees to make payments in lieu of ad valorem real property taxes (a “PILOT”) in the amount amounts specified herein and for the term of the Abatement Term in the manner provided for herein, and . The Project acquired or constructed with the City agrees to apply for an ad valorem property tax exemption for such portion proceeds of the Bonds up to an aggregate amount not to exceed $4,900,000 is referred to herein as the “Tax Abated Project for the 10 year period herein describedPortion”.