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<br /> -3- 846 20~) <br /> II. <br /> PROPERTY IMPROVEMENTS AND JOB CREATION <br /> A. CTMC agrees to construct facilities valued at <br /> approximately four million dollars ($4,000,000) and <br /> containing forty-eight thousand (48,000) square feet on a <br /> portion of the Property. The improvements will include a <br /> professional medical staff office building and related <br /> facilities. <br /> B. CTMC agrees to create and to have on the payroll <br /> twenty ( 20) year-round, full-time jobs at the facilities <br /> described above not later than December 31, 1991. <br /> III. <br /> TERM, ABATEMENT PERIOD AND RATE OF ABATEMENT <br /> A. All existing and any real estate property taxes (sometimes <br /> also called herein ad valorem taxes) hereafter created, <br /> however measured, valued or imposed (the "Abated Taxes") on <br /> ( i) the increase in value of the real estate described in <br /> Exhibit A above the value in the tax year in which this <br /> Agreement is signed and upon (i i) the improvements described <br /> in Part II shall be abated (the "Tax Abatement") for one <br /> (1) calendar year, provided that CTMC satisfies all of <br /> its obligations (subject to the force majeure provisions at <br /> Part V.A and the proration provisions at Part V.D) under <br /> this Agreement. The one (1) year of Tax Abatement (the <br /> "Abatement Period") shall commence upon the improvements <br /> being entered upon the tax rolls and continuing until the <br /> first anniversary thereof. <br />