Credit Enhancement AgreementWord下载.docx

Credit Enhancement AgreementWord下载.docx

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　　section2.2.liens

　　section2.3.depositsintodevelopmentprogramfund

　　section2.4.moniesheldintrust

　　articleiii

　　section3.1.creditenhancementpayments

　　section3.2.failuretomakepayment

　　section3.3.mannerofpayments

　　section3.4.obligationsunconditional

　　section3.5.limitedobligation

　　section3.6.calculationofretainedtaxincrement

　　section3.7.revaluation

　　articleiv

　　section4.1.pledgeofprojectcostaccount

　　section4.2.perfectionofinterest

　　section4.3.furtherinstruments

　　section4.4.nodispositionofdevelopersubaccount

　　section4.5.accesstobooksandrecords

　　articlev

　　section5.1.eventsofdefault

　　section5.2.remediesondefault

　　section5.3.remediescumulative

　　section5.4.agreementtopayattorneys'

feesandexpenses

　　section5.5.taxlaws

　　articlevi

　　section6.1.effectivedateandterm

　　section6.2.cancellationandexpirationofterm

　　articlevii

　　section7.1.consenttopledgeand/orassignment

　　section7.2.pledge,assignmentorsecurityinterest

　　section7.3.assignment

　　articleviii

　　section8.1.successors

　　section8.2.partiesininterest

　　section8.3.severability

　　section8.4.nopersonalliabilityofofficialsofthecity

　　section8.5.counterparts

　　section8.6.governinglaw

　　section8.7.notices

　　section8.8.amendments

　　section8.9.netagreement

　　section8.10.benefitofassigneeorpledges

　　section8.11.integration

　　section8.12.disputes

　　section8.13.arbitration

　　thiscreditenhancementagreementdatedasof_________,_________,_________（m/d/y）,betweentheaaa,_________（the'

city'

）,amunicipalbodycorporateandpoliticandapoliticalsubdivisionofthestateof_________,andbbbcorporation（the'

developer'

）,a_________（address）corporationwithaplaceofbusinessinbath,_________（address）.

　　witnesseththat

whereas,thecitydesignatedthebbbmunicipaldevelopmentandtaxincrementfinancingdistrict#1andthebbbmunicipaldevelopmentandtaxincrementfinancingdistrict#2（the'

districts'

）pursuanttochapter207oftitle30-aofthe_________（address）revisedstatutes,asamended,byactionofthecitycouncilatacitycouncilmeetingheldon_________,_________,_________（m/d/y）（the'

vote'

）andpursuanttothesamevoteadoptedadevelopmentprogramandfinancialplanforthedistricts（the'

developmentprogram'

）;

and

　　whereas,the_________（address）departmentofeconomicandcommunitydevelopmenthasreviewedandacceptedthedistrictandthedevelopmentprogrameffective_________,_________,_________（m/d/y）;

　　whereas,thedevelopmentprogramcontemplatestheexecutionanddeliveryofacreditenhancementagreementbetweenthecityandthedeveloper;

　　whereas,thecityandthedeveloperdesireandintendthatthiscreditenhancementagreementbeandconstitutethecreditenhancementagreementcontemplatedbyanddescribedinthedevelopmentprogram;

　　now,therefore,inconsiderationoftheforegoingandinconsiderationofthemutualpromisesandcovenantssetforthherein,thepartiesherebyagreeasfollows:

　　definitions:

interpretations

　　section1.1.definitions.thetermsdefinedinthisarticleishall,forallpurposesofthisagreement,havethemeaningshereinspecified,unlessthecontextclearlyrequiresotherwise:

　　'

agreement'

shallmeanthiscreditenhancementagreementbetweenthecityandthedeveloper.

capturedassessedvalue'

shallmeanthevaluationamountbywhichthethencurrentassessedvalueofthedistrictsexceedstheoriginalassessedvalueofthedistricts.

meanstheaaa,_________（address）,amunicipalitydulyorganizedandexistingunderthelawsofthestateof_________（address）.

cityshare'

means（a）alloftheretainedtaxincrementrevenuesotherthanthedevelopersharethereofplus（b）allinterestandearningsonalloftheretainedtaxincrementrevenues,exceptasprovidedinsection3.1（e）hereof.

meansbbbcorporation,a_________（address）corporationwithaplaceofbusinessinbath,_________（address）.

meansthedevelopmentprogramforthedistrictasadoptedbythebathcitycouncilatameetingheldon_________,_________,_________（m/d/y）.

developmentprogramfund'

meansthedevelopmentprogramfunddescribedinthefinancialplansectionofthedevelopmentprogramandestablishedandmaintainedpursuanttoarticleiihereof.

developershare'

means（a）100%oftherealpropertyincrementwithrespecttothelandlevelfacilityand50%oftherealpropertyincrementwithrespecttotheexistingfacilityand50%ofthepersonalpropertyincrementwithrespecttothelandlevelfacilityand50%ofthepersonalpropertyincrementwithrespecttotheexistingfacility,foreachofthetwenty-fiveyearsofthetermofthisagreement（commencingwiththeyear_________taxyear）oftheretainedtaxincrementrevenues,provided,however,thatsuchpercentagesshallbereducedtothefollowingamountsatsuchtimethattheaggregateamountofpaymentsbythecitytothedeveloperduringthetermofthisagreementandpursuanttothisagreementequal$_________;

100%oftherealpropertyincrementwithrespecttothelandlevelfacilitywithrespecttoassessedvalueequaltotheassessedvalueoflandlevelfacility（district#1）realpropertyasof_________,_________,_________（m/d/y）;

35%oftherealpropertyincrementwithrespecttothelandlevelfacilitywithrespecttoassessedvalueofrealpropertyinexcessoftheassessedvalueoflandlevelfacility（district#1）realpropertyasof_________,_________,_________（m/d/y）;

35%ofthepersonalpropertyincrementwithrespecttothelandlevelfacility;

35%oftherealpropertyincrementwithrespecttotheexistingfacility;

and35%ofthepersonalpropertyincrementwithrespecttotheexistingfacility.

　　intheeventthatthetaxshiftformulasarechangedandasaresultthecity'

staxshiftamountisdecreasedbyreasonofinclusioninthecity'

svaluationforpurposesofthetaxshiftformulasofanyportionofthecapturedassessedvaluewithrespecttowhichthedeveloper'

sshareisdeterminedhereunder,then,commencingwiththelaterof（a）the_________fiscalyearor（b）thefiscalyearinwhichthetaxshiftformulasarechanged,thedevelopershareshallbereducedbyanamountequalto50%ofthedifference,calculatedsolelywithrespecttothedevelopershareoftheretainedtaxincrement,between（a）thetaxshiftasdeterminedusingthemethodsetforthinthecurrenttaxshiftformulasand（b）thetaxshiftasproperlydeterminedusingthetheneffectivestatelawsrelatingtostateaidtoeducation,revenuesharingandcountytax;

anyreductionunderthisparagraphshallbecalculatedannuallyandappliedtoreducethepaymentsofthedevelopershareonthenextscheduledpaymentdatehereinfollowingsuchcalculation.

　　achangeinthetaxshiftresultingotherthanfromincludingcapturedassessedvalueinthecity'

svaluationshallnotresultinareductionofthedeveloper'

sshare.

　　anythinginthisagreementtothecontrarynotwithstanding,forpurposesofcalculatingthedeveloper'

sshare,theplatformforthelandleveltransfersystem（theconcretepad,filledlandandpilingssupportingthestructuresthereon）shallbeincludedwithintherealpropertyincrementofthelandlevelfacility.

district（s）'

meansthebbbcorporationmunicipaldevelopmentandtaxincrementfinancingdistrict#1（'

district#1'

）andthebbbmunicipaldevelopmentandtaxincrementfinancingdistrict#2（'

district#2'

）designatedbythecitypursuanttochapter207oftitle30-aofthe_________（address）revisedstatutes,asamended,byvoteatcitycouncilmeetingheldon_________,_________,_________（m,d,y）,whichdistrictsshallincludetheexistingfacilityandthelandlevelfacility.

effectivedate'

means_________,_________,_________（m/d/y）.

existingfacility'

meansthepropertyconsistingoftheexistingshipbuildingfacilityofthedeveloper,locatedontheparcelshownontax_________,_________（m,d）asparcel142withindistrict#2,includingallland,buildings,andallpersonalpropertylocatedonsuchparcelasof_________,_________（m,d）eachyearsubjecttocityadvaloremtaxestogetherwithallimprovementsoradditionstheretowithintheexistinggeographicboundariesofsuchfacility,allascurrentlydepictedonexhibitahereto.

financialplan'

meansthefinancialplandescribedinthe'

sectionofthedevelopmentprogram.

fiscalyear'

means_________,_________（m/d）to_________,_________（m/d）ofeachyearorsuchotherfiscalyearasthecitymayfromtimetotimeestablish;

forpurposesofthisagreement,thefiscalyear_________meansthefiscalyearcommencing_________,_________,_________（m/d/y）andending_________,_________,_________（m/d/y）andthefiscalyear_________$meansthefiscalyearcommencing_________,_________,_________（m/d/y）andending_________,_________,_________（m/d/y）.

landlevelfacility'

meansthelandlevelfacilitytobeconstructedindistrict#1bythedeveloperadjacenttotheexistingfacility,togetherwithallland,buildings,personalpropertylocatedonsuchadjacentlandasofapril1ofeachyearsubjecttocityadvaloremtaxestoget