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construction schedules in Exhibit L are not met, as follows (the "Development Delay Fee "): (i) A fee will be due for the commercial component in an amount equal to the lesser of (A) the Estimated Assessed Value as of the Determination Date, less the Actual Assessed Value as the Determination Date, multiplied by 3 %, or (B) the Estimated Private Investment as of the Determination Date, less the Actual Private Investment as of the Determination Date, multiplied by 3 %. Any such fee due the City shall be paid in two equal installments by July 5 and January 5 of the year following the applicable Determination Date (which payments shall be tolled for the period of time from the Determination Date until official notice of the applicable assessed valuation is received). (ii) A fee will be due for the multifamily component in an amount equal to the lesser of (A) the Estimated Assessed Value as of the Determination Date, less the Actual Assessed Value as of the Determination Date, multiplied by 2 %, or (B) the Estimated Private Investment as of the Determination Date, less the Actual Private Investment as of the Determination Date, multiplied by 2 %. Any such fee due the City shall be paid in two equal installments by July 5 and January 5 of the year following the applicable Determination Date (which payments shall be tolled for the period of time from the Determination Date until official notice of the applicable assessed valuation is received). (iii) A fee will be due for the residential component in an amount equal to the lesser of (A) the Estimated Assessed Value as of the Determination Date, less the Actual Assessed Value as of the Determination Date, multiplied by 1%, or (B) the Estimated Private Investment as of the Determination Date, less the Actual Private Investment as of the Determination Date, multiplied by 1%. Any such fee due the City shall be paid in two equal installments by July 5 and January 5 of the year following the applicable Determination Date (which payments shall be tolled for the period of time from the Determination Date until official notice of the applicable assessed valuation is received). (d). Exhibit M attached hereto and incorporated herein provides a form to be used in calculating fees due the City under this Section 4. 10, and shall be filed annually by Developer with the City no later than each April 15 in the year following the applicable Determination Date beginning April 15, 2014, and continuing annually thereafter until one year after the Project is substantially complete. The City and the Developer acknowledge that the Developer has provided to the City a completed form of Exhibit M satisfying the April 15, 2014 filing requirement which shows an amount potentially accrued of $826,885, subject to the other provisions of this Agreement and to future changes in the collection of taxes. The City will provide written notice to the Developer by ONE