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<br />.-~. <br /> <br />e <br /> <br />e <br /> <br />hGREE~ENT Section 5. <br /> <br />(a) After appro~al the (aoverninq body) shall formally pass a <br />resolution 'and execute an agreement with the owner oi the <br />facility and lessee as required which shall include: <br /> <br />) <br /> <br />(a) <br /> <br />(b) <br /> <br />" <br /> <br />.J (c) <br /> <br />(1) estimated value to be abated and the Dase year value; <br />(2) percent of value to be abated each year as provided in <br />Section 2(g); <br />(3) the commencement date and the termination date of <br />abatement; <br />(4) the proposed use of the facility; nature of <br />construction, time schedule, map, property description <br />and improvement list as provided in Application, <br />Section 3(b); <br />(5) contractual obligations in the event of default, <br />violation of terms or condi,tions, delinquent taxes, <br />recapture, administration and assignment as provided <br />in Sections 2 (a), 2 (f), 2 (g), 6, 7 and 8, and; <br />(6) size of investment and average number of jobs <br />involved. <br /> <br />Such agreement shall. normally b"e executed wi thin 60 days <br />after the applicant has 'forwarded all necessary information <br />and documentation to the (aoverning bodv). <br /> <br />- <br /> <br />RECAPTURE Section 6. <br /> <br />In the event that the facility is completed and begins <br />producing product or service, but subsequently discontinues <br />producing product or service for any reason excepting fire, <br />explosion or other casualty or accident or natural disaster <br />for a period of one year during the abatement period, then <br />the agreement shall terminate and so shall the abatement of <br />the taxes for the calendar year during which. the facility <br />no longer produces. The taxes othenlise abated for that <br />calendar year shall be paid to the (effected jurisdiction) <br />within sixty days from the date of termination. <br /> <br />Should the (qoverning body) determine that the company or <br />individual is ~n default according to the terms and <br />conditions of it I S agreement, the (qOVC :-ning body) shall <br />notify the company or individual in writ~ng at the address <br />sta ted in the agreement, and if such is not cured wi thin <br />sixt"y (60) days from the date of such notice ("Cure <br />Period")~ then the agreement may be terminated. <br /> <br />In the event th~t the company or individual (I) allo~s its <br />ad valorem taxes ov.Ted the County or affected jurisdiction <br />to become delinquent and fails to timely and properly <br /> <br />- 7 - <br />