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4. Substantial Compliance and Rights of Termination. The City, by and through the SBCC, reserves <br /> the right to terminate the Economic Revitalization Area designation and associated property tax abatement <br /> deo uctions if it determines that the Applicant has not made reasonable efforts to substantially comply with <br /> all he Commitments, and the Applicant's failure to substantially comply with the Commitments was not <br /> du: to factors beyond its reasonable control. As used in this Agreement, "substantial compliance" shall <br /> me n the Applicant's compliance with the following: (a)making real property expenditures of no less than <br /> On, Million Two Hundred and Sixty Five Thousand dollars ($1,265,000) for a building purchase and its <br /> renovation;(b)this real property project will retain four(4)permanent full-time jobs with a total estimated <br /> an ual payroll of $160,576 and create at least sixteen (16) new permanent full-time jobs with a total <br /> estii ated annual payroll of$624,000 within four years of the tax abatement. <br /> 5. Factors Beyond Control. As used in this Agreement, factors beyond the control of the Applicant <br /> sh. I only include factors not reasonably foreseeable at the time of designation application and submission <br /> of'tatement of Benefits which are not caused by any act or omission of the Applicant and which materially <br /> an o adversely affect the ability of the Applicant to substantially comply with this Agreement. <br /> 6. Repayment of Tax Abatement Savings. If at any time during the term of this Agreement the <br /> Ap►licant shall:(i)be delinquent or in default with respect to any tax payment in St.Joseph County,Indiana; <br /> or ii) cease operations at the facility for which the tax abatement was granted; or (iii) announce the <br /> ces.•tion of operations at such facility, then the City may immediately terminate the Economic <br /> Re italization Area designation and associated tax abatement deductions, and upon such termination, <br /> req lire Applicant to repay all of the tax abatement savings received through the date of such termination. <br /> 7. Notice/Hearing of Termination. In the event that the City determines that the Economic <br /> Re italization Area designation and associated tax abatement deductions should be terminated or that all <br /> or : portion of the tax abatement savings should be repaid, it will give the Applicant notice of such <br /> det•rmination, including a written statement calculating the amount due from the Applicant, and will <br /> pro ide the Applicant with an opportunity to meet with the City's designated representatives to show cause <br /> wh the abatement should not be terminated and/or the tax savings repaid. Such notice shall state the names <br /> oft e person with whom the Applicant may meet and will provide that the Applicant shall have thirty days <br /> from the date of such notice to arrange such meeting and to provide its evidence concerning why the <br /> ab. ement termination and/or tax savings repayment should not occur. If: after giving such notice and <br /> rec iving such evidence,if any,the City determines that the abatement termination and/or the tax repayment <br /> act on is proper,the Applicant shall be provided with written notice and a hearing before the SBCC before <br /> an final action shall be taken terminating the abatement and/or requiring repayment of tax benefits. The <br /> Ap•licant shall be entitled to appeal that determination to a St.Joseph County Superior or Circuit Court. <br /> 8. Repayment. In the event the City requires repayment of the tax abatement savings as provided <br /> her under, it shall provide Applicant with a written statement calculating the amount due(Statement), and <br /> Ap►licant shall make such repayment to the City within 30 days of the date of the Statement. If the <br /> Ap•licant does not make timely repayment,the City shall be entitled to all reasonable costs and attorneys' <br /> fee incurred in the enforcement and collection of the tax abatement savings required to be repaid hereunder. <br /> 9. Modification/Entire Agreement. This Agreement and the schedules attached here to contain the <br /> ent re understanding between the City and the Applicant with respect to the subject matter hereof, and <br /> sue rsede all prior and contemporaneous agreements and understandings, inducements, and conditions, <br /> ex II essed or implied, oral or written,except as herein contained. This Agreement may not be modified or <br /> am nded other than by an agreement in writing signed by the City and the Applicant. The Applicant <br /> 2 I :' ;i ' is <br />