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1、CreditEnhancementAgreement creditenhancementagreementbetweenaaa,(address)andbbbcorporationdatedasof,(m/d/y). tableofcontents articlei section1.1.definitions section1.2.interpretationandconstruction section1.3.developmentprogram section1.4.pletion section1.5.citycosts section1.6.agreementcontrols art
2、icleii section2.1.creationofdevelopmentprogramfund section2.2.liens section2.3.depositsintodevelopmentprogramfund section2.4.moniesheldintrust articleiii section3.1.creditenhancementpayments section3.2.failuretomakepayment section3.3.mannerofpayments section3.4.obligationsunconditional section3.5.li
3、mitedobligation section3.6.calculationofretainedtaxincrement section3.7.revaluation articleiv section4.1.pledgeofprojectcostaccount section4.2.perfectionofinterest section4.3.furtherinstruments section4.4.nodispositionofdevelopersubaccount section4.5.accesstobooksandrecords articlev section5.1.event
4、sofdefault section5.2.remediesondefault section5.3.remediescumulative section5.4.agreementtopayattorneysfeesandexpenses section5.5.taxlaws articlevi section6.1.effectivedateandterm section6.2.cancellationandexpirationofterm articlevii section7.1.consenttopledgeand/orassignment section7.2.pledge,assi
5、gnmentorsecurityinterest section7.3.assignment articleviii section8.1.successors section8.2.partiesininterest section8.3.severability section8.4.nopersonalliabilityofofficialsofthecity section8.5.counterparts section8.6.governinglaw section8.7.notices section8.8.amendments agreement section8.10.bene
6、fitofassigneeorpledges section8.11.integration section8.12.disputes section8.13.arbitration thiscreditenhancementagreementdatedasof,(m/d/y),betweentheaaa,(thecity),amunicipalbodycorporateandpoliticandapoliticalsubdivisionofthestateof,andbbbcorporation(thedeveloper),a(address)corporationwithaplaceofb
7、usinessinbath,(address). witnesseththat whereas,thecitydesignatedthebbbmunicipaldevelopmentandtaxincrementfinancingdistrict1andthebbbmunicipaldevelopmentandtaxincrementfinancingdistrict2(thedistricts)pursuanttochapter207oftitle30aofthe(address)revisedstatutes,asamended,byactionofthecitycouncilatacit
8、ycouncilmeetingheldon,(m/d/y)(thevote)andpursuanttothesamevoteadoptedadevelopmentprogramandfinancialplanforthedistricts(thedevelopmentprogram);and ?1?2?3?4?5?6?7?8?9?10?11?12?13?14?15?16?17?18?19? whereas,the(address)departmentofeconomicandmunitydevelopmenthasreviewedandacceptedthedistrictandthedeve
9、lopmentprogrameffective,(m/d/y);and whereas,thedevelopmentprogramcontemplatestheexecutionanddeliveryofacreditenhancementagreementbetweenthecityandthedeveloper;and whereas,thecityandthedeveloperdesireandintendthatthiscreditenhancementagreementbeandconstitutethecreditenhancementagreementcontemplatedby
10、anddescribedinthedevelopmentprogram; now,therefore,inconsiderationoftheforegoingandinconsiderationofthemutualpromisesandcovenantssetforthherein,thepartiesherebyagreeasfollows: articlei definitions:interpretations section1.1.definitions.thetermsdefinedinthisarticleishall,forallpurposesofthisagreement
11、,havethemeaningshereinspecified,unlessthecontextclearlyrequiresotherwise: agreementshallmeanthiscreditenhancementagreementbetweenthecityandthedeveloper. capturedassessedvalueshallmeanthevaluationamountbywhichthethencurrentassessedvalueofthedistrictsexceedstheoriginalassessedvalueofthedistricts. city
12、meanstheaaa,(address),amunicipalitydulyorganizedandexistingunderthelawsofthestateof(address). citysharemeans(a)alloftheretainedtaxincrementrevenuesotherthanthedevelopersharethereofplus(b)allinterestandearningsonalloftheretainedtaxincrementrevenues,exceptasprovidedinsection3.1(e)hereof. developermean
13、sbbbcorporation,a(address)corporationwithaplaceofbusinessinbath,(address). developmentprogrammeansthedevelopmentprogramforthedistrictasadoptedbythebathcitycouncilatameetingheldon,(m/d/y). developmentprogramfundmeansthedevelopmentprogramfunddescribedinthefinancialplansectionofthedevelopmentprogramand
14、establishedandmaintainedpursuanttoarticleiihereof. developersharemeans(a)100%oftherealpropertyincrementwithrespecttothelandlevelfacilityand50%oftherealpropertyincrementwithrespecttotheexistingfacilityand50%ofthepersonalpropertyincrementwithrespecttothelandlevelfacilityand50%ofthepersonalpropertyincrementwithrespecttotheexistingfacility,foreachofthetwentyfiveyearsofthetermofthisagreement(mencingwiththeyeartaxyear)oftheretainedtaxincrementrevenues,provided,however,thatsuchpercentagesshallbereducedtothefollowingamou
