Laserfiche WebLink
Project location. The rebates apply to the first five (5) years of its operation <br />commencing on the first day of the month following the day the Company <br />begins retail sales to the public from the Project Location ("the <br />Commencement Date"). The five-year rebate period shall commence upon <br />and run continuously from the Commencement Date. <br />4. Payment of Rebates; Cap; Inspection. The maximum amount of the rebates <br />payable pursuant to Sections 1 and 2 above shall in no event exceed the <br />calculation of 50% of the fees or taxes described in Sections 1 and 2 paid <br />to the City and a not to exceed cap of seven hundred dollars ($700). The <br />maximum amount of the rebates payable pursuant to Section 3 above shall <br />in no event exceed the calculation of 50% of the taxes described in Section <br />3 above; provided, further that the total maximum amount of rebates <br />payable pursuant to Section 3 shall in no event exceed five hundred dollars <br />($500). Sales Tax rebates pursuant to Section 3 shall terminate when the <br />Company has received from the City the last rebate payment under this <br />Agreement for five-year rebate period or when the Company has received <br />$500 in rebate payments, whichever first occurs. The building permit fee <br />and construction use tax rebates in Sections 1 and 2 pertaining to each <br />phase of the Project shall be paid by the City to Company within 120 days <br />following issuance of the certificate of occupancy or final inspection for the <br />applicable portion of the Project work, as reasonably determined by the City, <br />subject to Sections 5 and 6 below. The Sales Tax rebate provided for in <br />Section 3 above shall be paid by the City to Company in annual <br />installments, on or before February 28 of the following year. At the end of <br />each month, on or before the 201" of the following month, the Company shall <br />be responsible to remit to the City its total monthly Sales/Use Tax payment <br />on the appropriate Sales/Use Tax return form. All rebate payments will be <br />remitted by the City to the Company at the address set forth in Section 8. <br />5. No Interest; Inspection and Disclosure of Records. No interest shall be paid <br />on any amounts subject to rebate under this Agreement. Each party and its <br />agents shall have the right to inspect and audit the applicable records of the <br />other party to verify the amount of any payment under this Agreement, and <br />each party shall cooperate and take such actions as may be necessary to <br />allow such inspections and audits. The Company acknowledges that <br />implementation of this Agreement requires calculations based on the <br />amount of taxes collected and paid by the Company with respect to the term <br />of this Agreement and issuance of rebate payment checks in amounts <br />determined pursuant to this Agreement, and that the amounts of the rebate <br />payment checks will be public information. The Company, for itself, its <br />successors, assigns, and affiliated entities, hereby releases and agrees to <br />hold harmless the City and its officers and employees from any and all <br />liability, claims, demands, and expenses in any manner connected with any <br />dissemination of information necessary for or generated in connection with <br />the implementation of rebate provisions of this Agreement. <br />Page 2 of 6 <br />