Laserfiche WebLink
the Project attributable to the 4(d) class rate and the real estate taxes which would have been <br />generated by the Project utilizing payable 1997 4(c) class rates for land and buildings which <br />would have been applicable to the Project. The method of calculating the payment is as <br />provided for in Exhibit `B" attached hereto and made part hereof. The Partnership shall <br />make such payment on or before the time at which the second installment of real estate taxes <br />are due and payable without penalty or November 1 s`, whichever is earlier. The Partnership's <br />obligation to make such payment shall cease if the 4(d) class rate or other such similar rate is <br />eliminated. <br />5. Successors and Assigns. This Agreement shall inure to the benefit of and shall be binding <br />upon the Partnership and the City and their respective successors and assigns. <br />6. Counterparts. This Agreement may be executed in several counterparts, each of which shall <br />be an original and all of which shall constitute but one and the same instrument. <br />IN WITNESS WHEREOF, the Partnership and the City have caused this Agreement to be <br />executed by their duly authorized officers. <br />LITTLE CANADA LEASED HOUSING <br />ASSOCIATES, LLP <br />By <br />A Partner <br />CITY OF LITTLE CANADA, MINNESOTA <br />By <br />Its Mayor <br />By <br />Its City Administrator <br />Page 82 <br />