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<br />0411'1 <br />Ci /" " <br />J ." <br /> <br />q~¡,": <br />r. t' "' ,. <br />\ .' '-' " <br /> <br />-8- <br /> <br />termination pursuant to the provisions of this paragraph, the <br /> <br />Tax Abatement for the remainder of the Abatement Period shall <br /> <br />terminate but there shall be no recapture of prior years' <br /> <br />taxes <br /> <br />abated <br /> <br />by <br /> <br />virtue <br /> <br />of <br /> <br />this <br /> <br />Agreement. <br /> <br />The <br /> <br />taxes <br /> <br />otherwise <br /> <br />abated <br /> <br />for <br /> <br />the <br /> <br />calendar year <br /> <br />in which <br /> <br />default <br /> <br />occurs shall be paid to the City prior to the delinquency <br /> <br />date for such year; provided, however, that in no event shall <br /> <br />Factory Stores be required to pay such taxes within less than <br /> <br />sixty (60) days of the termination. <br /> <br />D.1. If Factory Stores, through its tenants, defaults with respect <br /> <br />to the job creation and maintenance requirements specified in <br /> <br />Section II(B) above to be accomplished during calendar year <br /> <br />1991, then for each full-time job equivalent less than 233 <br /> <br />created and maintained, Factory Stores shall pay to the City <br />an amount of money equal to 1/233 of the total accumulated <br /> <br />amount <br /> <br />of <br /> <br />abated taxes <br /> <br />under this <br /> <br />Agreement <br /> <br />at <br /> <br />the <br /> <br />time <br /> <br />default <br /> <br />is <br /> <br />declared <br /> <br />by <br /> <br />the <br /> <br />City <br /> <br />Council. <br /> <br />Default <br /> <br />with <br /> <br />respect to <br /> <br />job maintenance as <br /> <br />specified <br /> <br />in Section I I (B) <br /> <br />above for calendar year 1991 shall consist of Factory Stores <br /> <br />maintaining, <br /> <br />through its tenants, <br /> <br />fewer than 233 full-time <br /> <br />job equivalents during such calendar year. <br /> <br />In addition to <br /> <br />the payment described above, any such default shall result in <br /> <br />the tax abatement for the remainder of the Abatement Period <br /> <br />being subject to termination by the City; <br /> <br />provided, that if <br /> <br />such default is the result of a force majeure event, then the <br /> <br />amount of the tax abatement for calendar year 1991 shall be <br /> <br />reduced by the fractional proportion stated above, and such <br /> <br />default shall not give rise to termination of this Agreement <br />