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applicable percentage of revenues actually received by the City from <br />application of the tax rate affected (excluding said Open Space and <br />Historic Preservation Taxes). <br />9. Entire Agreement. This instrument shall constitute the entire agreement <br />between the City and Company and supersedes any prior agreements <br />between the parties and their agents or representatives, all of which are <br />merged into and revoked by this Agreement with respect to its subject <br />matter. Contact information is as follows: <br />If to Company: <br />McCaslin Retail, LLC <br />Attn: Neil Littmann <br />3434 47th Street #220 <br />Boulder, CO 80301 <br />n e i l @signature -pa rtne rs. co m <br />If to City: <br />Louisville City Hall <br />Attn: Economic Development. <br />749 Main Street <br />Louisville, CO 80027 <br />303.335.4531 <br />aarond@louisvilleco.gov <br />10. Termination. This Agreement shall terminate and become void and of no <br />force or effect upon the City if, by December 31, 2016, Company has not <br />completed the Project (as evidenced by the issuance of a certificate of <br />occupancy for the core and shell of the Project); or should fail to comply <br />with any City code. <br />11..Proiect Conversion. In the event that, within ten (10) years of the <br />commencement of the sales tax rebate term, Company either converts or <br />leases more than 50% of the Project's rentable square footage to a non- <br />retail sales tax generating use (a "Conversion "), then in such event <br />Company shall pay to the City the total amount of sales tax which were <br />due and payable to the City but were rebated by the City to Company, as <br />well as reimburse the City for any funds provided to Company pursuant to <br />this Agreement. The amount required to be repaid to the City shall be <br />reduced by 0.84% for each month prior to the Conversion that at least, <br />50% of the Project's rentable square footage was leased for a retail sales <br />tax generating use. <br />12. Subordination. The City's obligations pursuant to this Agreement are <br />subordinate to the City's obligations for the repayment of any current or <br />future bonded indebtedness and are contingent upon the existence of a <br />surplus in sales and use tax revenues in excess of the sales and use tax <br />revenues necessary to meet such existing or future bond indebtedness. <br />(00174494.DOC:4) <br />Page 3. of 6 <br />