Resolution 2015-39 - Laserfiche WebLink

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collected upon the lease payments made by Company under such lease agreements as in effect upon the date of City execution of this First Amendment. 2. Section 4 is hereby revised to read in full as follows (new language is underlined): 4. Payment of Rebates; Cap: Interest; Inspection. The maximum amount of the rebates payable pursuant to Sections 1, 2 and 3 above shall in no event exceed the calculation of 50% of the fees or taxes described-in Sections 1, 2, and 3 paid to the City. No interest shall be paid on any amounts of fees or taxes subject to rebate. The building permit fee and construction use tax rebates shall be paid by the City within 120 days following issuance of the certificate of occupancy for the Project, subject to Sections 5 and 6 below. The use tax rebate provided for in Section 3 above shall be paid by the City in annual installments. At the end of each calendar year, on or before January 31, the Company shall be responsible to remit to the City its total annual sales /use tax payment on the appropriate sales /use tax return form. The Company shall produce a monthly listings of all tangible personal property purchased in the prior month which qualifies for the Use Tax and Sales Tax rebate as defined in Section 3 above, and the City may audit such listing at Company's offices during regular business hours to examine, and if needed, Company shall provide copies of the supporting invoices or receipts. Within 60 days after the end of each calendar year, the rebate payment will be remitted to Company at the mailing address of the Project location. City payment shall be by check made payable solely to Company, and the City will not make payment to any other person or entity. Sales tax rebates related to lease payments under the two lease- agreements described in Section 3 above will be made in annual installments within 60 days after the end of each calendar year in which U.S. Bank Equipment Finance remits sales tax to the City for lease payments under the two lease agreements, limited to no more than 50% of such sales taxes paid and collected as of the end.of.each calendar year, and limited further to sales taxes on such lease payments paid prior to December 31, 2020. 3. Section 6 is hereby revised to read in full as follows (new language is underlined): 6. Future Fees. The rebates provided for under Sections 1 and 2 of this Agreement are solely for the initial construction on the Project. Any subsequent construction activities shall be subject to payment without rebate of all applicable building permit fees and construction use taxes. Except as provided in Section .3 with respect to sales tax upon the lease payments made under the two existing lease .agreements described therein, the rebate provided for under Section 3 is solely for the 2014 calendar year and the 2015 calendar year through June 30, 2015 and subject to the further limitations set forth in Section. 4. Effect of this Amendment. As amended by the terms hereof, the Agreement is in full force and effect and is hereby ratified by the parties, with both parties acknowledging that no defaults exist under the Agreement by the other party. 5. Conflict. In the event of any conflict between the Agreement and this Amendment, the terms and conditions of this Amendment shall control.