CreditEnhancementAgreement-合同范本模板

CreditEnhancementAgreement

CreditEnhancementAgreementbetweenaaa,_________(address)andbbbcorporationdatedasof_________,_________,_________(m/d/y).

tableofcontents

articlei

sectiondefinitions

sectioninterpretationandconstruction

sectiondevelopmentprogram

sectionpletion

sectioncitycosts

sectionagreementcontrols

articleii

sectioncreationofdevelopmentprogramfund

sectionliens

sectiondepositsintodevelopmentprogramfund

sectionmoniesheldintrust

articleiii

sectioncreditenhancementpayments

sectionfailuretomakepayment

sectionmannerofpayments

sectionobligationsunconditional

sectionlimitedobligation

sectioncalculationofretainedtaxincrement

sectionrevaluation

articleiv

sectionpledgeofprojectcostaccount

sectionperfectionofinterest

sectionfurtherinstruments

sectionnodispositionofdevelopersubaccount

sectionaccesstobooksandrecords

articlev

sectioneventsofdefault

sectionremediesondefault

sectionremediescumulative

section5.4.agreementtopayattorneys’feesandexpenses

sectiontaxlaws

articlevi

sectioneffectivedateandterm

sectioncancellationandexpirationofterm

articlevii

sectionconsenttopledgeand/orassignment

sectionpledge,assignmentorsecurityinterest

sectionassignment

articleviii

sectionsuccessors

sectionpartiesininterest

sectionseverability

sectionnopersonalliabilityofofficialsofthecity

sectioncounterparts

sectiongoverninglaw

sectionnotices

sectionamendments

sectionnetagreement

sectionbenefitofassigneeorpledges

sectionintegration

sectiondisputes

sectionarbitration

thisCreditEnhancementAgreementdatedasof_________,_________,_________(m/d/y),betweentheaaa,_________(the‘city’),amunicipalbodycorporateandpoliticandapoliticalsubdivisionofthestateof_________,andbbbcorporation(the‘developer’),a_________(address)corporationwithaplaceofbusinessinbath,_________(address).

witnesseththat

whereas,thecitydesignatedthebbbmunicipaldevelopmentandtaxincrementfinancingdistrict#1andthebbbmunicipaldevelopmentandtaxincrementfinancingdistrict#2(the‘districts’)pursuanttochapter207oftitle30-aofthe_________(address)revisedstatutes,asamended,byactionofthecitycouncilatacitycouncilmeetingheldon_________,_________,_________(m/d/y)(the‘vote’)andpursuanttothesamevoteadoptedadevelopmentprogramandfinancialplanforthedistricts(the‘developmentprogram’);and「1」「2」「3」「4」「5」「6」「7」「8」「9」「10」「11」「12」「13」「14」「15」「16」「17」「18」「19」

whereas,the_________(address)departmentofeconomicandmunitydevelopmenthasreviewedandacceptedthedistrictandthedevelopmentprogrameffective_________,_________,_________(m/d/y);and

whereas,thedevelopmentprogramcontemplatestheexecutionanddeliveryofaCreditEnhancementAgreementbetweenthecityandthedeveloper;and

whereas,thecityandthedeveloperdesireandintendthatthisCreditEnhancementAgreementbeandconstitutetheCreditEnhancementAgreementcontemplatedbyanddescribedinthedevelopmentprogram;

now,therefore,inconsiderationoftheforegoingandinconsiderationofthemutualpromisesandcovenantssetforthherein,thepartiesherebyagreeasfollows:

articlei

definitions:interpretations

sectiondefinitions.thetermsdefinedinthisarticleishall,forallpurposesofthisagreement,havethemeaningshereinspecified,unlessthecontextclearlyrequiresotherwise:

’agreement’shallmeanthisCreditEnhancementAgreementbetweenthecityandthedeveloper.

’capturedassessedvalue’shallmeanthevaluationamountbywhichthethencurrentassessedvalueofthedistrictsexceedstheoriginalassessedvalueofthedistricts.

’city’meanstheaaa,_________(address),amunicipalitydulyorganizedandexistingunderthelawsofthestateof_________(address).

’cityshare’means(a)alloftheretainedtaxincrementrevenuesotherthanthedevelopersharethereofplus(b)allinterestandearningsonalloftheretainedtaxincrementrevenues,exceptasprovidedinsection(e)hereof.

’developer’meansbbbcorporation,a_________(address)corporationwithaplaceofbusinessinbath,_________(address).

’developmentprogram’meansthedevelopmentprogramforthedistrictasadoptedbythebathcitycouncilatameetingheldon_________,_________,_________(m/d/y).

’developmentprogramfund’meansthedevelopmentprogramfunddescribedinthefinancialplansectionofthedevelopmentprogramandestablishedandmaintainedpursuanttoarticleiihereof.

’developershare’means(a)100%oftherealpropertyincrementwithrespecttothelandlevelfacilityand50%oftherealpropertyincrementwithrespecttotheexistingfacilityand50%ofthepersonalpropertyincrementwithrespecttothelandlevelfacilityand50%ofthepersonalpropertyincrementwithrespecttotheexistingfacility,foreachofthetwenty-fiveyearsofthetermofthisagreement(mencingwiththeyear_________taxyear)oftheretainedtaxincrementrevenues,provided,however,thatsuchpercentagesshallbereducedtothefollowingamountsatsuchtimethattheaggregateamountofpaymentsbythecitytothedeveloperduringthetermofthisagreementandpursuanttothisagreementequal$_________;100%oftherealpropertyincrementwithrespecttothelandlevelfacilitywithrespecttoassessedvalueequaltotheassessedvalueoflandlevelfacility(district#1)realpropertyasof_________,_________,_________(m/d/y);35%oftherealpropertyincrementwithrespecttothelandlevelfacilitywithrespecttoassessedvalueofrealpropertyinexcessoftheassessedvalueoflandlevelfacility(district#1)realpropertyasof_________,_________,_________(m/d/y);35%ofthepersonalpropertyincrementwithrespecttothelandlevelfacility;35%oftherealpropertyincrementwithrespecttotheexistingfacility;and35%ofthepersonalpropertyincrementwithrespecttotheexistingfacility.12345678910111213141516171819

intheeventthatthetaxshiftformulasarechangedandasaresultthecity’staxshiftamountisdecreasedbyreasonofinclusioninthecity’svaluationforpurposesofthetaxshiftformulasofanyportionofthecapturedassessedvaluewithrespecttowhichthedeveloper’sshareisdeterminedhereunder,then,mencingwiththelaterof(a)the_________fiscalyearor(b)thefiscalyearinwhichthetaxshiftformulasarechanged,thedevelopershareshallbereducedbyanamountequalto50%ofthedifference,calculatedsolelywithrespecttothedevelopershareoftheretainedtaxincrement,between(a)thetaxshiftasdeterminedusingthemethodsetforthinthecurrenttaxshiftformulasand(b)thetaxshiftasproperlydeterminedusingthetheneffectivestatelawsrelatingtostateaidtoeducation,revenuesharingandcountytax;anyreductionunderthisparagraphshallbecalculatedannuallyandappliedtoreducethepaymentsofthedevelopershareonthenextscheduledpaymentdatehereinfollowingsuchcalculation.

achangeinthetaxshiftresultingotherthanfromincludingcapturedassessedvalueinthecity’svaluationshallnotresultinareductionofthedeveloper’sshare.

anythinginthisagreementtothecontrarynotwithstanding,forpurposesofcalculatingthedeveloper’sshare,theplatformforthelandleveltransfersystem(theconcretepad,filledlandandpilingssupportingthestructuresthereon)shallbeincludedwithintherealpropertyincrementofthelandlevelfacility.

’district(s)’meansthebbbcorporationmunicipaldevelopmentandtaxincrementfinancingdistrict#1(‘district#1’)andthebbbmunicipaldevelopmentandtaxincrementfinancingdistrict#2(‘district#2’)designatedbythecitypursuanttochapter207oftitle30-aofthe_________(address)revisedstatutes,asamended,byvoteatcitycouncilmeetingheldon_________,_________,_________(m,d,y),whichdistrictsshallincludetheexistingfacilityandthelandlevelfacility.

’effectivedate’means_________,_________,_________(m/d/y).

’existingfacility’meansthepropertyconsistingoftheexistingshipbuildingfacilityofthedeveloper,locatedontheparcelshownontax_________,_________(m,d)asparcel142withindistrict#2,includingallland,buildings,andallpersonalpropertylocatedonsuchparcelasof_________,_________(m,d)eachyearsubjecttocityadvaloremtaxestogetherwithallimprovementsoradditionstheretowithintheexistinggeographicboundariesofsuchfacility,allascurrentlydepictedonexhibitahereto.

’financialplan’meansthefinancialplandescribedinthe‘financialplan’sectionofthedevelopmentprogram.

‘fiscalyear’means_________,_________(m/d)to_________,_________(m/d)ofeachyearorsuchotherfiscalyearasthecitymayfromtimetotimeestablish;forpurposesofthisagreement,thefiscalyear_________meansthefiscalyearmencing_________,_________,_________(m/d/y)andending_________,_________,_________(m/d/y)andthefiscalyear_________$meansthefiscalyearmencing_________,_________,_________(m/d/y)andending_________,_________,_________(m/d/y).

’landlevelfacility’meansthelandlevelfacilitytobeconstructedindistrict#1bythedeveloperadjacenttotheexistingfacility,togetherwithallland,buildings,personalpropertylocatedonsuchadjacentlandasofapril1ofeachyearsubjecttocityadvaloremtaxestogetherwithallimprovementsoradditionstheretoasdepictedonexhibitbhereto.

’originalassessedvalue’means$_________,theassessedvalueofthedistrictsasof_________,_________,_________(m/d/y)asthesamemaybeadjustedfromtimetotimeinaccordancewithsectionhereof.

’personalpropertyincrement’meansthatportionofthetaxincrementattributabletoincreasesinpersonalpropertyvaluationswithrespecttopersonalpropertylocatedinthedistricts.

’project’meansthedesign,planning,development,acquisition,constructionandoperationofthelandlevelfacilityandotherbbbcorporationimprovementswithinthedistrictsasdescribedinthedevelopmentprogram.

’projectcostaccount’meanstheprojectcostaccountdescribedinthefinancialplansectionofthedevelopmentprogramconsistingofthecitysubaccountandthedevelopersubaccountandestablishedandmaintainedpursuanttoarticleiihereofandtoprovisionsof30-asection5254(3)(a)(2).

’projectcosts’means‘projectcosts’asdefinedin30-a

section5152(8).

’property’meansallrealpropertyandallpersonalpropertynoworhereafterlocatedinthedistricts.

’propertytaxes’meansanyandalladvalorempropertytaxeslevied,chargedorassessedagainstrealorpersonalpropertyinthedistrictsbythecity,oronitsbehalf.

’realpropertyincrement’meansthatportionofthetaxincrementattributabletoincreasesinrealestatevaluationswithrespecttorealestatelocatedinthedistricts.

’retainedtaxincrementrevenues’meansthatportionofthetaxincrementtoberetainedbythecityanddepositedintothedevelopmentprogramfundpursuanttothetermsofthedevelopmentprogramandthisagreement.【1】【2】【3】【4】【5】【6】【7】【8】【9】【10】【11】【12】【13】【14】【15】【16】【17】【18】【19】

’taxincrement’meanstherealandpersonalpropertytaxesexclusiveofanystate,countryorspecialdistricttax,assessedbythecityonthecapturedassessedvalueofpropertywithinthedistricts,whichtaxincrementshallconsistoftherealpropertyincrementandthepersonalpropertyincrement.

’taxpaymentdate’meansthedate(s)onwhichpropertytaxesleviedbythecityaredueandpayablefromownersofpropertylocatedwithinthecity.

’taxshift’meansthedecreaseincountytaxpayablebythecityandtheincreasesinstateaidforeducationandrevenuesharinginallthreecasesresultingfromtheexclusionofcapturedassessedvaluefromthecity’svaluationincalculatingsuchamountsofcountytax,stateaidtoeducationandrevenuesharingunderthecurrenttaxshiftformulas.

’taxshiftformulas’meantheformulascurrentlyutilizedbythestateof_________(address)incalculating(a)thecountytaxpayableinaccordancewith30-a706and36sections305(1),381;(b)themunicipalrevenuesharingdistributionofthelocalgovernmentfundinaccordancewith30-asection5681;and(c)stateaidtoeducation,includingaidfortotaloperatingcosts,totalprogramcostallocation(takingintoaccountthemaximumlocalshareorcircuitbreaker)andtotaldebtservicecostallocation(takingintoaccountthemaximumlocalshareorcircuitbreaker),allasputedinaccordancewith_________(address)departmentofeducationformed261.

hisagreement,unlessthecontextotherwiserequires:

(a)theterms‘hereby,’‘hereof,’‘hereto,’‘herein,’‘hereunder’andanysimilarterms,asusedinthisagreement,refertothisagreement,andtheterm‘hereafter’meansafter,andtheterm‘heretofore’meansbefore,thedateofdeliveryofthisagreement.

(b)wordsimportingaparticulargendermeanandincludecorrelativewordsofeveryothergenderandwordsimportingthesingularnumbermeanandincludethepluralnumberandviceversa.

(c)wordsimportingpersonsmeanandincludefirms,associations,partnerships(includinglimitedpartnerships),trusts,corporationsandotherlegalentities,includingpublicorgovernmentalbodies,aswellasanynaturalpersons.

(d)anyheadingsprecedingthetextsoftheseveralarticlesandsectionsofthisagreement,andanytableofcontentsormarginalnotesappendedtocopieshereof,shallbesolelyforconvenienceofreferenceandshallnotconstituteapartofthisagreement,norshalltheyaffectitsmeaning,constructionoreffect.(1)(2)(3)(4)(5)(6)(7)(8)(9)(10)(11)(12)(13)(14)(15)(16)(17)(18)(19)

(e)exceptasotherwiseprovidedherein,allapprovals,consentsandacceptancesrequiredtobegivenormadepursuanttothisagreementbyanysignatoryheretoshallnotbewithheldunreasonably,provided,thatthisparagraphshallnotapplytoapprovals,consentsandacceptancesunderapplicablelaws,ordinancesandcodes,including,withoutlimitation,landuseordinances.

(f)allnoticestobegivenhereundershallbegiveninwritingand,unlessacertainnumberofdaysisspecified,withinareasonabletime.

(g)ifanyclause,provisionorsectionofthisagreementshallberuledinvalidbyanycourtofpetentjurisdiction,theinvalidityofsuchclause,provisionorsectionshallnotaffectanyoftheremainingprovisionshereofexceptasotherwiseprovidedinsectionhereof.

sectiondevelopmentprogram.neitherthisagreementnorthedevelopmentprogramobligatethedevelopertoconstructthelandlevelfacilityortomakeanyotherimprovementstoitsfacility.

sectionpletion.thedevelopershallhavepletedasmuchofthedevelopmentprogramaswillqualifyforfinancialassistancehereunderwithinfive(5)yearsaftertheeffectivedate.ifnoneofthedevelopmentprogramispletedwithinfive(5)yearsaftertheeffectivedate,thenthisagreement(exceptsectionpertainingtocosts)andthedistrictshallterminateattheendoffive(5)yearsaftertheeffectivedate.notwithstandinganyotherprovisionhereof,nopaymentsshallbemadeorbepayablebythecitytothedeveloperunderthisagreementunlesssuchpaymentsareusedtopayorreimbursethedeveloperforprojectcostsincurredwithinfive(5)yearsoftheeffectivedatepursuanttoproperdocumentationthereofprovidedbythedeveloperpursuanttosection(d)hereof.

sectioncitycosts.thedevelopershallpayorreimbursethecityforallreasonablefe