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EXECUTrON COPY <br />(d). Revenue'Sh aringfroin Class H Gaming. This Section exclusively addresses <br />ILT Payments and any other form of gaming revenue sharing by PGA with the <br />City from a Resort that cannot lawfully include` "Class III Gaming,?, as that <br />term is defined in subsection 270(8) of IGRA, due to the absence of: (i) a <br />Class III Gaming compact entered into between the Band and the :State of <br />Indiana that is approved by the Secretary of the Interior pursuant to the <br />requirements of subsection 2710(4)(8) of IGRA or (U) administrative <br />procedures for the conduct of Class III Gaming by the Band on.Indan lands <br />located in the State of Indiana that are prescribed by the Secretary of the <br />Interior pursuant to subsection (d)(7)(B)(vii) of IGItA (either such approved <br />compactor administrative procedures are referred to hereunder as "Indiana <br />compact"). <br />(1). In furtherance of the determinations described above in subsection (a) to <br />help fund operations oflocal government agencies, and as consideration <br />for valuable concessions contained in this Agreement, the Band Parties <br />agree that PGA shall male an annual ILT Payment to the City comprised <br />of the following; (i) one percent (1 %) of the Net Win from Class II Games <br />at the Resort shall be paid directly to the City; and (ii) one percent (1 %) of <br />the Net Win from Class II Games at the Resort shall be paid directly to the <br />South Bend Redevelopment Commission ( "Redevelopment <br />Commission ") (each such ILT Payment made annually under this Section <br />14(d) or any payment of Net Win from Class III Gaming under Section <br />14(e) of this Agreement, an "Annual ILT Payment "). It is the parties' <br />mutual intent that the Redevelopment Commission use and direct the <br />Annual ILT Payment proceeds it receives from PGA pursuant to this <br />Section 14 to fund initiatives broadly aimed at contributing to the <br />improvement of educational opportunities in the City and to address <br />poverty and unemployment in the City. <br />(2). The Annual ILT Payments shall be based on a twelve -month fiscal period <br />beginning on August I and ending on July 31 of each year, provided that <br />the first Annual ILT Payment under this provision may be for a period of <br />less than twelve full months of operations beginning on the day the Resort <br />opens to the public through July 31 immediately subsequent thereto. <br />Annual ILT Payments shall be made within sixty (60) days of the end of <br />each fiscal period. Interest on any Annual ILT Payment made more than <br />sixty (60) days from the end of the fiscal period shall accrue at the annual <br />rate of three percent (3 %) on the unpaid balance due until paid in <br />frill. Any partial payments of the unpaid balance due shall first be applied <br />to accrued interest with the remainder, if any, next applied to the unpaid <br />balance. <br />Page 9 of 2 <br />