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1、Credit Enhancement AgreementCREDIT ENHANCEMENT AGREEMENT betweenAAA, _(ADDRESS) and BBB CORPORATION Dated as of _,_,_(M/D/Y) . TABLE OF CONTENTSARTICLE I Section 1.1. Definitions Section 1.2. Interpretation and Construction Section 1.3. Development Program Section 1.4. Completion Section 1.5. City C
2、osts Section 1.6. Agreement Controls ARTICLE II Section 2.1. Creation of Development Program Fund Section 2.2. Liens Section 2.3. Deposits into Development Program Fund Section 2.4. Monies Held in Trust ARTICLE III Section 3.1. Credit Enhancement Payments Section 3.2. Failure to Make Payment Section
3、 3.3. Manner of Payments Section 3.4. Obligations Unconditional Section 3.5. Limited Obligation Section 3.6. Calculation of Retained Tax Increment Section 3.7. Revaluation ARTICLE IV Section 4.1. Pledge of Project Cost Account Section 4.2. Perfection of Interest Section 4.3. Further Instruments Sect
4、ion 4.4. No Disposition of Developer Subaccount Section 4.5. Access to Books and Records ARTICLE V Section 5.1. Events of Default Section 5.2. Remedies on Default Section 5.3. Remedies Cumulative Section 5 .4. Agreement to Pay Attorneys Fees and ExpensesSection 5.5. Tax LawsARTICLE VISection 6.1. Ef
5、fective Date and TermSection 6.2. Cancellation and Expiration of TermARTICLE VIISection 7.1. Consent to Pledge and/or AssignmentSection 7.2. Pledge, Assignment or Security InterestSection 7.3. AssignmentARTICLE VIIISection 8.1. SuccessorsSection 8.2. Parties in InterestSection 8.3. SeverabilitySecti
6、on 8.4. No Personal Liability of Officials of the CitySection 8.5. CounterpartsSection 8.6. Governing LawSection 8.7. NoticesSection 8.8. AmendmentsSection 8.9. Net AgreementSection 8.10. Benefit of Assignee or PledgesSection 8.11. IntegrationSection 8.12. DisputesSection 8.13. Arbitration THIS CRED
7、IT ENHANCEMENT AGREEMENT dated as of _,_,_(M/D/Y), between the AAA, _ (the City), a municipal body corporate and politic and a political subdivision of the State of _, and BBB Corporation (the Developer), a _(ADDRESS) corporation with a place of business in Bath, _(ADDRESS) .WITNESSETH THAT WHEREAS,
8、 the City designated The BBB Municipal Development and Tax Increment Financing District #1 and The BBB Municipal Development and Tax Increment Financing District #2 (the Districts) pursuant to Chapter 207 of Title 30-A of the _(ADDRESS) Revised Statutes, as amended, by action of the City Council at
9、a City Council Meeting held on _,_,_(M/D/Y) (the Vote) and pursuant to the same Vote adopted a development program and financial plan for the Districts (the Development Program); andWHEREAS, the _(ADDRESS) Department of Economic and Community Development has reviewed and accepted the District and th
10、e Development Program effective _,_,_(M/D/Y); andWHEREAS, the Development Program contemplates the execution and delivery of a credit enhancement agreement between the City and the Developer; andWHEREAS, the City and the Developer desire and intend that this Credit Enhancement Agreement be and const
11、itute the credit enhancement agreement contemplated by and described in the Development Program;NOW, THEREFORE, in consideration of the foregoing and in consideration of the mutual promises and covenants set forth herein, the parties hereby agree as follows:ARTICLE IDEFINITIONS: INTERPRETATIONS SECT
12、ION 1.1. DEFINITIONS. The terms defined in this Article I shall, for all purposes of this Agreement, have the meanings herein specified, unless the context clearly requires otherwise:Agreement shall mean this Credit Enhancement Agreement between the City and the Developer.Captured Assessed Value sha
13、ll mean the valuation amount by which the then current assessed value of the Districts exceeds the Original Assessed Value of the Districts.City means the AAA, _(ADDRESS), a municipality duly organized and existing under the laws of the State of _(ADDRESS).City Share means (a) all of the Retained Ta
14、x Increment Revenues other than the Developer Share thereof plus (b) all interest and earnings on all of the Retained Tax Increment Revenues, except as provided in Section 3.1(e) hereof.Developer means BBB Corporation, a _(ADDRESS) corporation with a place of business in Bath, _(ADDRESS).Development Program means the development program for the District as adopted by the Bath City Council at a Meeting held on _,_,_(M/D/Y).Development Program Fund means the development program fund described in the Financial Plan section of the Development Program and established and m
