credit enhancement agreement betweenaaa, _________(address) and bbb corporation dated as of _________,_________,_________(m/d/y) .
table of contents
article i
section 1.1. definitions
section 1.2. interpretation and construction
section 1.3. development program
section 1.4. completion
section 1.5. city costs
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. 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
section 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 expenses
section 5.5. tax laws
article vi
section 6.1. effective date and term
section 6.2. cancellation and expiration of term
article vii
section 7.1. consent to pledge and/or assignment
section 7.2. pledge, assignment or security interest
section 7.3. assignment
article viii
section 8.1. successors
section 8.2. parties in interest
section 8.3. severability
section 8.4. no personal liability of officials of the city
section 8.5. counterparts
section 8.6. governing law
section 8.7. notices
section 8.8. amendments
section 8.9. net agreement
section 8.10. benefit of assignee or pledges
section 8.11. integration
section 8.12. disputes
section 8.13. arbitration
this credit 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, 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 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'); and