Common use of Tax Rates Clause in Contracts

Tax Rates. For the purposes of deteimining the an1ount of the PILOT Payments as contemplated by 1.3(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 ta,"< 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 60349-008v4 rates used_ to determine the.PILOT ayment 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 set forth the anticipated years of the overall eighteen (18) year period for PILOT Payments under the Agency's Destination Resort Uniform Ta.x Exemption Program; the date that a PILOT Payment is due; and the appropriate tax periods utilized in determining the tax rates for computing the PILOT Payment. 1 February 1, 2018 July 1, 2017 January 1, 2018 2 February 1, 2019 . July 1, 2018 January 1, 2019 3 February 1, 2020 July 1, 2019 January 1, 2020 4 Febmary 1, 2021 July 1, 2020 January 1, 2021 5 February 1, 2022 July 1, 2021 January 1, 2022 6 February 1, 2023 July 1, 2022 January 1, 2023 7 February·.1, 2024 July 1, 2023 January _l, 2024 8 February 1, 2025 July 1, 2024 January 1, 2025 9 February 1, 2026 July 1, 2025 January 1, 2026 10 February 1, 2027 July 1, 2026 January 1, 2027 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 deteimining determining the an1ount amount of the PILOT Payments as contemplated by 1.3(c)(ii) m1d 1.3(cand 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 ta,"< tax rates used to dete1mine determine 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 60349-008v4 rates used_ used to determine the.the PILOT ayment 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 set forth the anticipated years of the overall eighteen twenty (1820) year period for PILOT Payments under the Agency's ’s Destination Resort Uniform Ta.x Tax Exemption Program; the date that a PILOT Payment is due; and the appropriate tax periods utilized in determining the tax rates for computing the PILOT Payment. 1 February 1, 2018 July 1, 2017 January 1, 2018 2 February 1, 2019 . July 1, 2018 January 1, 2019 3 February 1, 2020 July 1, 2019 January 1, 2020 4 Febmary February 1, 2021 July 1, 2020 January 1, 2021 5 February 1, 2022 July 1, 2021 January 1, 2022 6 February 1, 2023 July 1, 2022 January 1, 2023 7 February·.1February 1, 2024 July 1, 2023 January _l1, 2024 8 February 1, 2025 July 1, 2024 January 1, 2025 9 February 1, 2026 July 1, 2025 January 1, 2026 10 February 1, 2027 July 1, 2026 January 1, 2027 11 February 1, 2028 July 1, 2027 January 1, 2028 12 February 1, 2029 -July July 1, 2028 January l1, 2029 13 February 1, 2030 July 1, 2029 January l1, 2030 14 February 1, 2031 July 1, 2030 January 1, 2031_ 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 60349-008v419 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 deteimining determining the an1ount amount of the PILOT Payments as contemplated by 1.3(c)(ii13(b)(ii) m1d 1.3(cand 13(c)(ii)(y) 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 ta,"< tax rates used to dete1mine determine the PILOT Payment shall 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 ayment 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 set sets forth the anticipated years of the overall eighteen twenty (1820) year period for PILOT Payments under the Agency's Destination Resort Uniform Ta.x Exemption Programgoverned by this Agreement; the date that a PILOT Payment Payment, is due; due and the appropriate tax periods utilized in determining the tax rates for computing the PILOT Payment. 1 : PILOT Payment Due Date School Fiscal Year Beginning County & Town February 1, 2018 2011 February 1, 2012 July 1, 2017 2010 July 1, 2011 January I, 2011 January 1, 2018 2 2012 February 1, 2019 . 2015 February 1, 2016 July 1, 2018 2014 July 1, 2015 January 1, 2019 3 February 2015 January 1, 2020 2016 February 1,2019 July 1,2018 January 1,2019 February 1,2020 July 1, 2019 January 1, 2020 4 Febmary February. 1, 2021 July 1, 2020 1,2020 January 1, 2021 5 1,2021 February 1, 2022 July 1, 2021 1,2022 Julyl,2021 January 1, 2022 6 February 1, 2023 July 1, 2022 Julyl,2022 January 1, 2023 7 February·.1, 2024 February 1,2024 July 1, 2023 January _l, 2024 8 1,2024 February 1, 2025 1,2025. July 1, 2024 January 1, 2025 9 1,2025 February 1, 2026 July 1, 2025 January 1, 2026 10 1,2026 February 1l, 2027 July 1, 2026 1,2026 January 1, 2027 11 February 1, 2028 1,2028 July 1, 2027 January 1, 2028 12 1,2028 February 1, 2029 -July 1, 2028 July 1,2028 January l, 2029 13 1,2029 February 1, 2030 1,2030 July 1, 2029 January l, 2030 14 February 1, 2031 July 1, 2030 1,2029 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 60349-008v42030

Tax Rates. For the purposes of deteimining determining the an1ount amount of the PILOT Payments as contemplated by 1.3(c)(ii) m1d 1.3(cand 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 ta,"< tax rates used to dete1mine determine 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 60349-008v4 rates used_ used to determine the.the PILOT ayment 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 set forth the anticipated years of the overall eighteen (18) year period for PILOT Payments under tmder the Agency's Destination Resort Uniform Ta.x Exemption Tax Exemphon Program; the date that a PILOT Payment is due; and the appropriate tax periods utilized in determining the tax rates for computing the PILOT PaymentPayri1ent. 1 February 1, 2017 July 1, 2016 January 1, 2017 2 February 1, 2018 July 1, 2017 January 1, 2018 2 '") .) February 1, 2019 . July 1, 2018 January 1, 2019 3 4 February 1, 2020 July 1, 2019 January 1, 2020 4 Febmary 5 February 1, 2021 July 1, 2020 January 1, 2021 5 6 February 1, 2022 July 1, 2021 January 1, 2022 6 7 February 1, 2023 July 1, 2022 January 1, 2023 7 February·.18 February 1, 2024 July 1, 2023 January _l1, 2024 8 603 2 l -052v7 9 February 1, 2025 July 1, 2024 January 1, 2025 9 10 February 1, 2026 July 1, 2025 January 1, 2026 10 February 11 · Febniary 1, 2027 July 1, 2026 January 1, 2027 11 12 February 1, 2028 July 1, 2027 January 1, 2028 12 13 February 1, 2029 -July July 1, 2028 January l1, 2029 13 14 February 1, 2030 July 1, 2029 January l1, 2030 14 15 February 1, 2031 July 1, 2030 January 1, 2031_ 15 2031 16 February 1, 2032 July 1Julyl, 2031 January 1, 2032 · 16 17 February 1, 2033 July 1, 2032 January 1, 2033 17 18 February 1, 2034 July 1, 2033 January 1, 2034 18 February 1, 2035 July 1, 2034 January 1, 2035 60349-008v42034

Tax Rates. For the purposes of deteimining determining the an1ount amount of the PILOT Payments as contemplated by 1.3(c)(ii) m1d 1.3(c2b(ii) 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 ta,"< tax rates used to dete1mine determine the PILOT Payment shall be the tax rates relating to the calendar year which includes the PILOT Payment due date. For school tax district purposes, the tax 60349-008v4 rates used_ used to determine the.the PILOT ayment 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 set sets forth the anticipated years of the overall eighteen fourteen (1814) year period for 60321-017v3 governed by this PILOT Payments under the Agency's Destination Resort Uniform Ta.x Exemption ProgramAgreement; the date that a PILOT Payment is due; and the appropriate tax periods utilized in determining the tax rates for computing the PILOT Payment. : 1 February 1, 2018 15,2018 July 1, 2017 1,2017 January 1, 2018 1,2018 2 February 115,2019 July 1,2018 January 1,2019 j., 2019 . February 15,2020 July 1, 2018 1,2019 January 1, 2019 3 1,2020 4 February 1, 2020 15,2021 July 1, 2019 1,2020 January 1, 2020 4 Febmary 1, 2021 July 1, 2020 January 1, 2021 1,2021 5 February 1, 2022 July 1, 2021 15,2022 Julyl,2021 January 1, 2022 1,2022 6 February 1, 2023 15,2023 July 1, 2022 1,2022 January 1, 2023 1,2023 7 February·.1, 2024 February 15,2024 July 1, 2023 1,2023 January _l, 2024 1,2024 8 February 1, 2025 15,2025 July 1, 2024 1,2024 January 1, 2025 1,2025 9 February 1, 2026 15,2026 July 1, 2025 1,2025 January 1, 2026 1,2026 10 February 1, 2027 15,2027 July 1, 2026 1,2026 January 1, 2027 1,2027 11 February 1, 2028 15,2028 July 1, 2027 1,2027 January 1, 2028 1,2028 12 February 1, 2029 -July 1, 2028 15,2029 July 1,2028 January l, 2029 1,2029 13 February 1, 2030 15,2030 July 1, 2029 1,2029 January l, 2030 1,2030 14 February 1, 2031 15,2031 July 1, 2030 1,2030. January 1, 2031_ 1,2031 15 February 1, 2032 15,2032 July 1, 2031 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 60349-008v41,2032 ·

Tax Rates. For the purposes of deteimining dete1mining the an1ount amount of the PILOT Payments as contemplated by 1.3(c)(ii) m1d 1.3(ci-fl .3(b)(ii) 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 ta,"< tax rates used to dete1mine determine 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 60349-008v4 rates used_ used to determine the.the PILOT ayment 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 set sets forth the anticipated years of the overall eighteen fifteen (1815) year period for PILOT Payments under the Agency's Destination Resort Uniform Ta.x Exemption Programgoverned by this Agreement; the date that a PILOT Payment is due; and the appropriate tax periods utilized in determining the tax rates for computing the PILOT Payment. : 1 February 1, 2018 July 1, 2017 January 1, 2018 2 February 1, 2019 . July 1, 2018 January 1, 2019 3 February 1.),.., February!, 2020 July 1, 2019 January 1, 2020 4 Febmary February 1, 2021 July 1, 2020 January 1, 2021 5 February 1, 2022 July 1, 2021 January 1, 2022 6 February 1, 2023 July 1, 2022 January 1, 2023 7 February·.1February 1, 2024 July 1, 2023 January _l1, 2024 8 February 1, 2025 July 1, 2024 January 1, 2025 9 February 1, 2026 July 1, 2025 January 1, 2026 10 February 1, 2027 July 1, 2026 January 1, 2027 11 February 1, 2028 July 1, 2027 January 1, 2028 12 February 1, 2029 -July July 1, 2028 January l1, 2029 13 February 1, 2030 · July 1, 2029 January l1, 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