Resolution 2013-38 - Laserfiche WebLink

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(iii) That if, in any year, no Property Tax TIF revenue is generated by the Property and received by the LRC, no rebate payments under this Rebate Agreement shall be due to the Developer for that year. (iv) That if, in any year, the LRC receives no Property Tax TIF revenues because there is for the Plan Area no increment value in excess of the base value for the Plan Area, no rebate payments under this Rebate Agreement shall be due to the Developer for that year. (v) That if, in any year, the LRC receives Property Tax TIF revenues but the amount received is less than the amount necessary to pay all obligations that are on parity with this Rebate Agreement, then the rebate payments made to the Developer under this Rebate Agreement for such year shall be on a pro -rata basis. (vi) That the LRC may prepay at any time without penalty any amounts payable under this Rebate Agreement, and may make payment with any source of funds available to the LRC. (vii) That the LRC may use for any lawful purpose amounts not required for payments under this Rebate Agreement. c. The Parties shall each keep, or cause to be kept, proper and current books and accounts in which complete and accurate entries shall be made for costs associated with the Project and amounts paid out from the Special Fund. 3. Entire Agreement. This instrument shall constitute the entire agreement between the LRC and Developer and supersedes any prior agreements between the Parties and their agents or representatives, all of which are merged into and revoked by this Rebate Agreement with respect to its subject matter. Contact information is as follows: If to Developer: Tract One, LLC Attn: Jim Loftus 2595 Canyon Blvd. Suite 200 Boulder, CO 80302 Phone: 303.938.1329 jrl @loftusdevelopments.com If to LRC: Louisville Revitalization Commission 4