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of occupancy from the City for the Business, Company shall open the Grocery Store to the <br /> public on or before December 31, 2026 (the "Opening Date"), subject to any extensions <br /> arising from force majeure events. <br /> Section 3.02. Compliance with Laws. In performing its obligations under this <br /> Article, Company and City shall comply with all applicable laws, regulations and <br /> ordinances. <br /> ARTICLE IV <br /> GRANT PAYMENTS FROM THE CITY <br /> Section 4.01. Grant Payments. Subject to other terms and conditions of this <br /> Agreement and provided that Company is not in default beyond the applicable notice and <br /> cure period set forth herein, the City will make Grant Payments to Company in the manner <br /> set forth in this Article. <br /> Section 4.02. Five-Year Payment Period. Beginning in the first(1")full calendar <br /> year following Company's Opening Date, the City shall make Grant Payments to the <br /> Company through and including the fifth (5th) calendar year thereafter. There will be two <br /> types of Grant Payments: <br /> (a) Grant Payments for Additional Property Taxes; and <br /> (b) Grant Payments for Sales Tax Revenue- <br /> Grant payments shall be made in the form of refunds to Company of a percentage of <br /> Additional Property Taxes and Sales Tax Revenue over five years as follows: <br /> Grant Payment Refund Amount <br /> Year <br /> 1 80 percent <br /> 4 <br /> 4874-3828-6824,v. 13 <br />