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<br /> -6- 846 21\'rl <br /> ." ~¡ '..,1 <br /> , ù" <br /> B. In the event that CTMC allows its ad valorem taxes to the <br /> City which may be owed on the Property and improvements <br /> listed in Part II to become delinquent and fails to timely and <br /> properly follow the legal procedures for their protest <br /> and/or contest, or if CTMC violates any of the te rms <br /> and conditions of this Agreement and fails to cure them during <br /> the Cure Period, this Agreement may then be terminated <br /> and all Abated Taxes previously abated by virtue of <br /> this Agreement will be recaptured, the Tax Abatement will <br /> be rescinded and such previously Abated Taxes will be <br /> paid by CTMC to the City within sixty (60) days of the <br /> termination. <br /> C. If the City Council determi nes that CTMC has failed to <br /> create the number of jobs specified in Part II <br /> to be created by the December 3l, 1991 deadline, then <br /> for each job less than the number required to be created by <br /> the deadline, CTMC shall be required to pay the City an amount <br /> of money equal to a fractional part of the amount of Abated <br /> Taxes under this Agreement , with the fraction consisting of <br /> one (l) as the numerator, and the number of cumulative jobs <br /> to be created by the respective deadline as the denominator. <br /> D. If pursuant to subsection A, the City declares that CTMC <br /> is in default with respect to this Agreement and <br /> thereafter the City terminates this Agreement, in whole or <br />