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deduction for a period of ten (10) years as provided in the alternate abatement schedule <br /> pursuant to the Section 17 of the Act set forth below: <br /> Real Property <br /> Year Abatement <br /> 1 100% <br /> 2 95% <br /> 80% <br /> 4 65% <br /> 5 50% <br /> 6 40% <br /> 7 30% <br /> 8 20% <br /> 9 10% <br /> 10 5% <br /> WHEREAS,the St.Joseph County Assessor's office issued a Notice of Assessment <br /> dated as of January 1, 2016 with respect to the Parcel; and <br /> WHEREAS, an Application for Deduction from Assessed Valuation of Structures <br /> in Economic Revitalization Areas(Form 322/RE)("Form 322/RE")must be filed with the <br /> St. Joseph County Auditor(the "Auditor")before May 10 in the year in which the addition <br /> to assessed valuation (or new assessment) is made, or not later than thirty (30) days after <br /> the Notice of Assessment of Land and Improvements (Form 11) (the "Notice of <br /> Assessment") is mailed to the property owner if it is mailed after April 10; and <br /> WHEREAS, Form 322/RE requires that Form CF-1/Real Property (Form CF-1) <br /> ("Form CF-1")must be attached to the Form 322/RE; and <br /> WHEREAS,the Company filed a Form CF-1/Real Property with the City of South <br /> Bend on or about March 11, 2016, however, the Company mistakenly and inadvertently <br /> did not file the Form 332/RE with the Auditor; and <br /> WHEREAS, the Company subsequently received a Tax Bill in April 2017 (the <br /> "Tax Bill") providing that the spring installment of 2016 property taxes on the Parcel was <br /> due May 10, 2017; and <br /> WHEREAS, upon receipt of the Tax Bill, the Company filed Form 322/RE with <br /> the Auditor's office on or about May 9, 2017; and <br /> WHEREAS, the Tax Bill, without the application of the abatement previously <br /> approved by the Common Council, results in a tax being due of$122,785.14; and <br /> 2 <br />