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<br />Properties of the per ~entac'i~ increase in the Consumer Price Index <br />for the previouB calendar yr;.:ar. The amount of the sums to be paid <br />by College Pro~ertieB under this Section 4 for the year in which <br />the City noti~ies College :?roperties of the p~rcentage increase <br />shall be increased by the pc>rcentage that the Consumer Price Index <br />has increa.sed, por example, if the Consumer Price Index is <br />increased by 1% the sums tc be paid by College Properties in the <br />next succeeding calenc!ar yee.r shall be increased by 1\. If, .at any <br />time during the term of this agreement, the Project is partially <br />eubject to ad va.lorem real net-ate taxes and partially exernpt from <br />ad valorem real estate tExes, the payments due from College <br />Properties to tlhe Cit}- in a year shall be reduced by the amount of <br />tax revenue the City :'48ceivus from the Project in that year. Any <br />reduction shall be credited first to the payment due on October lS <br />of that year. ! <br />I <br />5. ~. If College Properties defaults in the <br />performance of its oh~1gati(Jns under this Agreement, the City m~y <br />recover from ~11ege PropextieB, in addition to any amounts due <br />under this Agrqement, all co 3ts and expenses, including reasonable <br />a.ttorneys fees ~ the C:_ ty inc:urs to enforce this Ag~eement. <br /> <br />6. CoY_ant :Ru:1ZL:i.:D9'_ 'l11:h the Land. The City and College <br />. <br />Properties agree that:.he C'o'!enant of College Properties under this <br />Agreement touches and conce::na the Land, that this cm,,,nant runs <br />with title to !the Land ani, that this oovenant is binding upon <br />College Proper iea anC its fUCCeg&ors and assigns. <br /> <br />~ <br /> <br />g:n23:1.J. <br /> <br />2 <br /> <br />8 d 8GG9880g~8 'ONl99: G] IS/B~: G I 85 ,G( 'vO (aRM) <br /> <br />NV~BOWiSa~I~g WOHj <br />