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<br />~ <br /> <br />prope~ties of the per;entas'~ increase in the Consumer Price Index <br />for the previous calendar y::ar. The amount at the sums to be paid <br />by College Pro~rtieB under this Section 4 for the year in which <br />the City noti~ies Co21ege '.'roperties of the percent-age increase!! <br />shall be inC!reased by the ptrcentage that the Consumer Price Index <br />has increased. Por ex8J1'1!",; le, 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 1-11'. If, at any <br />time during the term of th:.s agreement, the project is partially <br />liJubject to ad valorem real aet:.ate taxes and partially exempt from <br />ad valorem real estate tExes, the payments due from college <br />Properties to the Cit~t in a year shall be reduced by the amount of <br />tax re"U'enue the city ::eceiv"!s from the Project in that year. Any <br />reduction shall be cnOited first to the payment due on October 15 <br />of that year. ~ <br /> <br />5, Knfotaement, If College Properties defaults in the <br />performance of its ob:"1gati(lns under this Agreement, tbe City may <br />recover from 0:>>11ege ProPel'ties, in addition to any amounts due <br />under this Agrqement, all cc 3ts and expenses, including reasonaJol. <br />attorneys feeB~ the C;.ty in<:urs to enforce this Agreement. <br /> <br />6. Cc::nrema%\t tv:miD9- dt.b the Land. The City and College <br /> <br />properties agree that ':.he co"enant of College Properties under this <br />Agreement touches and conce::"nS the Land, that this COvenant runs <br />with title to! the La:'1d arK, that this Clovenant is binding upon <br />College Proper iea aDL its fu~ce8aors and assigns. <br /> <br />~n23S.1 <br /> <br />2 <br />