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Fresca Foods, Inc. <br />Attn: Zan Powell <br />195 CTC Boulevard <br />Louisville, CO 80027 <br />zan @frescafoodsinc.com <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 />8. Termination. This Agreement shall terminate and become void and of no <br />force or effect upon the City if, by June 30, 2016, Company has not <br />completed the Project as described in Company's application of business <br />assistance (as evidenced by a successful final inspection for the Project); <br />or should fail to comply with any City code. <br />9. Business Termination. In the event that, within five (5) years of the <br />completion of the Project at the Project Location (as determined by the <br />date of issuance of the certificate of occupancy or final inspection for the <br />Project), the Company ceases operations at the Project Location, <br />Company shall pay to the City a portion of the total amount of fees and <br />taxes which were due and payable to the City but were rebated by the City <br />to Company, as well as reimburse the City for any funds provided to <br />Company pursuant to this Agreement. For each full month the Company <br />and /or its successors and assigns, cease operations at the Project <br />Location, the City shall receive back 1.67% of the foregoing amounts. <br />10. 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 />The City shall meet its obligations under this Agreement only after the City <br />has satisfied all other obligations with respect to the use of sales tax <br />revenues for bond repayment purposes. For the purposes of this <br />Agreement, the terms "bonded indebtedness," "bonds," and similar terms <br />describing the possible forms of indebtedness include all forms of <br />indebtedness that may be incurred by the City, including, but not limited <br />to, general obligation bonds, revenue bonds, revenue anticipation notes, <br />tax increment notes, tax increment bonds, and all other forms of <br />contractual indebtedness of whatsoever nature that is in any way secured <br />or collateralized by sales and use tax revenues of the City. <br />Page 3 of 5 <br />