Common use of Tax Rates Clause in Contracts

Tax Rates. For the purposes of determining the amount of the PILOT Payments as contemplated by if3(b)(ii) hereof, the tax rates for each Taxing Jurisdiction shall mean the last tax rate used for levy of taxes by each such jurisdiction. For County and Town purposes, the tax rates used to dete1mine the PILOT Payment shall be· the tax rates relating to the calendar year which includes the PILOT Payment due date. For School tax purposes, the tax rates used to determine the PILOT Payment shall be the rate relating to the School tax year which began in the calendar year immediately preceding the year in which the PILOT Payment is due. The chart which follows sets forth the years of'the overall fifteen (15) year - period governed by this Agreement; the date that a PILOT Payment is due and the appropriate tax periods utilized in detennining the tax rates for computing the PILOT Payment: Year PILOT Payment Due Date School Fiscal Year Beginning County & Town 1 February 1, 2014 July 1, 2013 January 1, 2014 2 February 1, 2015 July 1, 2014 January 1, 2015 3 February 1, 2016 July 1, 2015 January 1, 2016 4 February 1, 2017 July 1, 2016 January 1, 2017 5 February 1, 2018 July 1, 2017 January 1, 2018 6 February 1, 2019 July 1, 2018 January 1, 2019 7 February 1, 2020 July 1, 2019 January 1, 2020 8 February 1, 2021 July 1, 2020 January 1, 2021 9 February 1, 2022 July 1, 2021 January 1, 2022 10 February 1, 2023 July 1, 2022 January 1, 2023 11 February 1, 2024 July 1, 2023 January 1, 2024 12 February 1, 2025 July 1, 2024 January 1, 2025 13 February 1, 2026 July 1, 2025 January 1, 2026 14 February 1, 2027 July 1, 2026 January 1, 2027

Tax Rates. For the purposes of determining deteimining the amount an1ount of the PILOT Payments as contemplated by if3(b)(ii1.3(c)(ii) m1d 1.3(c) hereof, ; the tax rates for each Taxing Jurisdiction shall mean the last tax rate used before the Taxable Status Date for levy of taxes by each such jurisdiction. For County and Town purposes, the tax ta,"< rates used to dete1mine the PILOT Payment shall be· be the tax rates relating to the calendar year which includes the PILOT Payment due date. For School school tax purposes, the tax 60349-008v4 rates used used_ to determine the the.PILOT Payment ayment shall be the rate relating to the School school tax year which began in the calendar year immediately preceding the year in which the PILOT Payment is due. The chart which follows sets set forth the anticipated years of'the of the overall fifteen eighteen (1518) year - period governed by this Agreementfor PILOT Payments under the Agency's Destination Resort Uniform Ta.x Exemption Program; the date that a PILOT Payment is due due; and the appropriate tax periods utilized in detennining determining the tax rates for computing the PILOT Payment: . Year PILOT Payment Due Date School Fiscal Year Beginning County & and Town 1 February 1, 2014 July 1, 2013 January 1, 2014 2 February 1, 2015 July 1, 2014 January 1, 2015 3 February 1, 2016 July 1, 2015 January 1, 2016 4 February 1, 2017 July 1, 2016 January 1, 2017 5 February 1, 2018 July 1, 2017 January 1, 2018 6 2 February 1, 2019 . July 1, 2018 January 1, 2019 7 3 February 1, 2020 July 1, 2019 January 1, 2020 8 February 4 Febmary 1, 2021 July 1, 2020 January 1, 2021 9 5 February 1, 2022 July 1, 2021 January 1, 2022 10 6 February 1, 2023 July 1, 2022 January 1, 2023 11 February 17 February·.1, 2024 July 1, 2023 January 1_l, 2024 12 8 February 1, 2025 July 1, 2024 January 1, 2025 13 9 February 1, 2026 July 1, 2025 January 1, 2026 14 10 February 1, 2027 July 1, 2026 January 1, 20272027 11 February 1, 2028 July 1, 2027 January 1, 2028 12 February 1, 2029 -July 1, 2028 January l, 2029 13 February 1, 2030 July 1, 2029 January l, 2030 14 February 1, 2031 July 1, 2030 January 1, 2031_ 15 February 1, 2032 July 1, 2031 January 1, 2032 · 16 February 1, 2033 July 1, 2032 January 1, 2033 17 February 1, 2034 July 1, 2033 January 1, 2034 18 February 1, 2035 July 1, 2034 January 1, 2035 60349-008v4

Tax Rates. For the purposes of determining the amount of the PILOT Payments as contemplated by if3(b)(ii713(b)(ii) hereof, the tax rates for each Taxing Jurisdiction shall mean the last tax rate used for levy of taxes by each such jurisdiction. For County and Town purposes, the tax rates used to dete1mine determine the PILOT Payment shall be· be the tax rates relating to the calendar year which includes the PILOT Payment due date. For School tax school district purposes, the tax rates used to determine the PILOT Payment shall be the rate relating to the School school tax year which began in the calendar year ye& immediately preceding the year in which the PILOT Payment is due. The chart which follows sets forth the years of'the of the overall fifteen (15) year - period governed by this PILOT Agreement; the date that a PILOT Payment is due due; and the appropriate tax periods utilized in detennining determining the tax rates for computing the PILOT Payment: Year PILOT Payment Due Date School Fiscal Year Beginning County & Town 1 Pre- opening February 1, 2014 July 1, 2013 January 1, 2014 2 February 1, 2015 July 1, 2014 January 1, 2015 3 February 1, 2016 July 1, 2015 January 1, 2016 4 February 1, 2017 July 1, 2016 January 1, 2017 5 February 1, 2018 July 1, 2017 January 1, 2018 6 February 115, 2019 July 1, 2018 January 1, 2019 7 1 February 115, 2020 July 1, 2019 January 1, 2020 8 3 February 115, 2021 July 1, 2020 January 1, 2021 9 4 February 115, 2022 July 1, 2021 January 1, 2022 10 5 February 115, 2023 July 1, 2022 January 1, 2023 11 6 February 115, 2024 July 1, 2023 January 1, 2024 12 7 February 115, 2025 July 1, 2024 January 1, 2025 13 8 February 115, 2026 July 1, 2025 January 1, 2026 14 9 February 115, 2027 July 1, 2026 January 1, 20272027 10 February 15, 2028 July 1, 2027 January 1, 2028 11 February 15, 2029 July 1, 2028 January 1, 2029 12 February 15, 2030 July 1, 2029 January 1, 2030 13 February 15, 2031 July 1, 2030 January 1, 2031 14 February 15, 2032 July 1, 2031 January 1, 2032 15 Februai-y 15, 2033 July 1, 2032 Jai u;::;ry 1, 2033

Tax Rates. For the purposes of determining dete1mining the amount of the PILOT Payments as contemplated by if3(b)(iii-fl .3(b)(ii) hereof, the tax rates for each Taxing Jurisdiction shall mean the last tax rate used for levy of taxes by each such jurisdiction. For County and Town purposes, the tax rates used to dete1mine determine the PILOT Payment shall be· be the tax rates relating to the calendar year which includes the PILOT Payment due date. For School school tax purposes, the tax rates used to determine the PILOT Payment shall be the rate relating to the School school tax year which began in the calendar year immediately preceding the year in which the PILOT Payment is due. The chart which follows sets forth the years of'the of the overall fifteen (15) year - period governed by this Agreement; the date that a PILOT Payment is due due; and the appropriate tax periods utilized in detennining determining the tax rates for computing the PILOT Payment: Year PILOT Payment Due Date School Fiscal Year Beginning County & Town 1 February 1, 2014 July 1, 2013 January 1, 2014 2 February 1, 2015 July 1, 2014 January 1, 2015 3 February 1, 2016 July 1, 2015 January 1, 2016 4 February 1, 2017 July 1, 2016 January 1, 2017 5 February 1, 2018 July 1, 2017 January 1, 2018 6 2 February 1, 2019 July 1, 2018 January 1, 2019 7 February 1.),.., February!, 2020 July 1, 2019 January 1, 2020 8 4 February 1, 2021 July 1, 2020 January 1, 2021 9 5 February 1, 2022 July 1, 2021 January 1, 2022 10 6 February 1, 2023 July 1, 2022 January 1, 2023 11 7 February 1, 2024 July 1, 2023 January 1, 2024 12 8 February 1, 2025 July 1, 2024 January 1, 2025 13 9 February 1, 2026 July 1, 2025 January 1, 2026 14 10 February 1, 2027 July 1, 2026 January 1, 20272027 11 February 1, 2028 July 1, 2027 January 1, 2028 12 February 1, 2029 July 1, 2028 January 1, 2029 13 February 1, 2030 · July 1, 2029 January 1, 2030 14 February 1, 2031 July 1, 2030 January 1, 2031

Tax Rates. For the purposes of determining the amount of the PILOT Payments as contemplated by if3(b)(ii2b(ii) hereof, the tax rates for each Taxing Jurisdiction shall mean the last tax rate used for levy of taxes by each such jurisdiction. For County and Town purposes, the tax rates used to dete1mine determine the PILOT Payment shall be· be the tax rates relating to the calendar year which includes the PILOT Payment due date. For School tax school district purposes, the tax rates used to determine the PILOT Payment shall be the rate relating to the School school tax year which began in the calendar year immediately preceding the year in which the PILOT Payment is due. The chart which follows sets forth the years of'the of the overall fifteen fourteen (1514) year - period 60321-017v3 governed by this PILOT Agreement; the date that a PILOT Payment is due due; and the appropriate tax periods utilized in detennining determining the tax rates for computing the PILOT Payment: Year PILOT Payment Due Date School Fiscal Year Beginning County & Town 1 February 1, 2014 15,2018 July 1, 2013 1,2017 January 1, 2014 1,2018 2 February 115,2019 July 1,2018 January 1,2019 j., 2015 February 15,2020 July 1, 2014 1,2019 January 1, 2015 3 February 1, 2016 July 1, 2015 January 1, 2016 1,2020 4 February 1, 2017 15,2021 July 1, 2016 1,2020 January 1, 2017 1,2021 5 February 1, 2018 July 1, 2017 15,2022 Julyl,2021 January 1, 2018 1,2022 6 February 1, 2019 15,2023 July 1, 2018 1,2022 January 1, 2019 1,2023 7 February 1, 2020 15,2024 July 1, 2019 1,2023 January 1, 2020 1,2024 8 February 1, 2021 15,2025 July 1, 2020 1,2024 January 1, 2021 1,2025 9 February 1, 2022 15,2026 July 1, 2021 1,2025 January 1, 2022 1,2026 10 February 1, 2023 15,2027 July 1, 2022 1,2026 January 1, 2023 1,2027 11 February 1, 2024 15,2028 July 1, 2023 1,2027 January 1, 2024 1,2028 12 February 1, 2025 15,2029 July 1, 2024 1,2028 January 1, 2025 1,2029 13 February 1, 2026 15,2030 July 1, 2025 1,2029 January 1, 2026 1,2030 14 February 1, 2027 15,2031 July 1, 2026 1,2030. January 1, 20271,2031 15 February 15,2032 July 1,2031 January 1,2032 ·

Tax Rates. For the purposes of determining the amount of the PILOT Payments as contemplated by if3(b)(ii13(b)(ii) and 13(c)(ii)(y) hereof, the tax rates for each Taxing Jurisdiction shall mean the last tax rate used for levy of taxes by each such jurisdiction. For County and Town purposes, the tax rates used to dete1mine determine the PILOT Payment shall be· be the tax rates relating to the calendar year which includes the PILOT Payment due date. For School tax purposes, the tax rates used to determine the PILOT Payment shall be the rate relating to the School tax year which began in the calendar year immediately preceding the year in which the PILOT Payment is due. The chart which follows sets forth the years of'the of the overall fifteen twenty (1520) year - period governed by this Agreement; the date that a PILOT Payment Payment, is due and the appropriate tax periods utilized in detennining determining the tax rates for computing the PILOT Payment: Year PILOT Payment Due Date School Fiscal Year Beginning County & Town 1 February 1, 2011 February 1, 2012 July 1, 2010 July 1, 2011 January I, 2011 January 1, 2012 February 1, 2013 July 1, 2012 January 1, 2013 February I, 2014 July 1, 2013 January 1, 2014 2 February 1, 2015 July 1, 2014 January 1, 2015 3 February 1, 2016 July 1, 2014 July 1, 2015 January 1, 2015 January 1, 2016 4 February 1, 2017 July 1, 2016 January 1, 2017 5 February 1, 2018 July 1, 2017 January 1, 2018 6 February 1, 2019 1,2019 July 1, 2018 1,2018 January 1, 2019 7 1,2019 February 1, 2020 1,2020 July 1, 2019 January 1, 2020 8 February February. 1, 2021 July 1, 2020 1,2020 January 1, 2021 9 1,2021 February 1, 2022 July 1, 2021 1,2022 Julyl,2021 January 1, 2022 10 February 1, 2023 July 1, 2022 Julyl,2022 January 1, 2023 11 February 1, 2024 1,2024 July 1, 2023 January 1, 2024 12 1,2024 February 1, 2025 1,2025. July 1, 2024 January 1, 2025 13 1,2025 February 1, 2026 July 1, 2025 January 1,2026 February l, 2027 July 1,2026 January 1, 2026 14 2027 February 1,2028 July 1, 2027 January 1,2028 February 1, 2027 2029 July 1, 2026 1,2028 January 1,2029 February 1,2030 July 1,2029 January 1, 20272030

Tax Rates. For the purposes of determining the amount of the PILOT Payments as contemplated by if3(b)(ii1.3(c)(ii) and 1.3(e) hereof, the tax rates for each Taxing Jurisdiction shall mean the last tax rate used before the Taxable Status Date for levy of taxes by each such jurisdiction. For County and Town purposes, the tax rates used to dete1mine determine the PILOT Payment shall be· be the tax rates relating to the calendar year which includes the PILOT Payment due date. For School school tax purposes, the tax rates used to determine the PILOT Payment shall be the rate relating to the School school tax year which began in the calendar year immediately preceding the year in which the PILOT Payment is due. The chart which follows sets set forth the anticipated years of'the of the overall fifteen twenty (1520) year - period governed by this Agreementfor PILOT Payments under the Agency’s Destination Resort Uniform Tax Exemption Program; the date that a PILOT Payment is due due; and the appropriate tax periods utilized in detennining determining the tax rates for computing the PILOT Payment: . Year PILOT Payment Due Date School Fiscal Year Beginning County & and Town 1 February 1, 2014 July 1, 2013 January 1, 2014 2 February 1, 2015 July 1, 2014 January 1, 2015 3 February 1, 2016 July 1, 2015 January 1, 2016 4 February 1, 2017 July 1, 2016 January 1, 2017 5 February 1, 2018 July 1, 2017 January 1, 2018 6 2 February 1, 2019 July 1, 2018 January 1, 2019 7 3 February 1, 2020 July 1, 2019 January 1, 2020 8 4 February 1, 2021 July 1, 2020 January 1, 2021 9 5 February 1, 2022 July 1, 2021 January 1, 2022 10 6 February 1, 2023 July 1, 2022 January 1, 2023 11 7 February 1, 2024 July 1, 2023 January 1, 2024 12 8 February 1, 2025 July 1, 2024 January 1, 2025 13 9 February 1, 2026 July 1, 2025 January 1, 2026 14 10 February 1, 2027 July 1, 2026 January 1, 20272027 11 February 1, 2028 July 1, 2027 January 1, 2028 12 February 1, 2029 July 1, 2028 January 1, 2029 13 February 1, 2030 July 1, 2029 January 1, 2030 14 February 1, 2031 July 1, 2030 January 1, 2031 15 February 1, 2032 July 1, 2031 January 1, 2032 16 February 1, 2033 July 1, 2032 January 1, 2033 17 February 1, 2034 July 1, 2033 January 1, 2034 18 February 1, 2035 July 1, 2034 January 1, 2035 19 February 1, 2036 July 1, 2035 January 1, 2036 20 February 1, 2037 July 1, 2036 January 1, 2037

Tax Rates. For the purposes of determining the amount of the PILOT Payments as contemplated by if3(b)(ii1.3(c)(ii) and 1.3(e) hereof, the tax rates for each ·Taxing Jurisdiction shall mean the last tax rate used before the Taxable Status Date for levy of taxes by each such jurisdiction. For County and Town purposes, the tax rates used to dete1mine determine the PILOT Payment shall be· be the tax rates relating to the calendar year which includes the PILOT Payment due date. For School school tax purposes, the tax rates used to determine the PILOT Payment shall be the rate relating to the School school tax year which began in the calendar year immediately preceding the year in which the PILOT Payment is due. The chart which follows sets set forth the anticipated years of'the of the overall fifteen eighteen (1518) year - period governed by this Agreementfor PILOT Payments tmder the Agency's Destination Resort Uniform Tax Exemphon Program; the date that a PILOT Payment is due due; and the appropriate tax periods utilized in detennining determining the tax rates for computing the PILOT Payment: Payri1ent. Year PILOT Payment Due Date School Fiscal Year Beginning County & and Town 1 February 1, 2014 July 1, 2013 January 1, 2014 2 February 1, 2015 July 1, 2014 January 1, 2015 3 February 1, 2016 July 1, 2015 January 1, 2016 4 February 1, 2017 July 1, 2016 January 1, 2017 5 2 February 1, 2018 July 1, 2017 January 1, 2018 6 '") .) February 1, 2019 July 1, 2018 January 1, 2019 7 4 February 1, 2020 July 1, 2019 January 1, 2020 8 5 February 1, 2021 July 1, 2020 January 1, 2021 9 6 February 1, 2022 July 1, 2021 January 1, 2022 10 7 February 1, 2023 July 1, 2022 January 1, 2023 11 8 February 1, 2024 July 1, 2023 January 1, 2024 12 603 2 l -052v7 9 February 1, 2025 July 1, 2024 January 1, 2025 13 10 February 1, 2026 July 1, 2025 January 1, 2026 14 February 11 · Febniary 1, 2027 July 1, 2026 January 1, 20272027 12 February 1, 2028 July 1, 2027 January 1, 2028 13 February 1, 2029 July 1, 2028 January 1, 2029 14 February 1, 2030 July 1, 2029 January 1, 2030 15 February 1, 2031 July 1, 2030 January 1, 2031 16 February 1, 2032 Julyl, 2031 January 1, 2032 17 February 1, 2033 July 1, 2032 January 1, 2033 18 February 1, 2034 July 1, 2033 January 1, 2034