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TAX EXEMPTIONAGREEMENT <br />This Tax Exemption Agreement ("the Agreement") is made and entered into this <br />day of , 199_, at North Olmsted, Ohio, by and between the City of <br />North Olmsted, Ohio, and Ohio municipal corporation and political subdivision ("the City") and <br />YIltS, Ltd., a limited liability company organized under the laws of the State of Ohio, and <br />authorized to conduct business in the State of Ohio ("the Company"), under the following terms <br />and conditions. <br />WHEREAS, the Council of the City, pursuant to Ordinance No. 91-1'75, as amended by <br />Ordinance No. 94-79, designated certain territories of the City of North Olmsted, Ohio ("the <br />City") as Community Reinvestment Areas ("CRA"); and <br />WHEREAS, the Company desires to construct a facility which is located on land it owns <br />in the North Olmsted Industrial Park( "the Project"); and <br />WHEREAS, the North Olmsted Industrial Park is located within a CRA in the City of <br />North Olmsted; and <br />WHEREAS, said new facility will employee a significant number of employees and <br />thereby generate significant income tax revenues to the City of North Olmsted; and <br />WHEREAS, the Company will not locate the facility in the City of North without tax <br />incentives; and <br />WHEREAS, the City is desirous of providing the Company with incentives available for <br />the development of the Project in the CRA; and <br />WHEREAS, the Company has submitted an application for real estate tax exemption <br />(attached hereto as Exhibit A) to the City pursuant to Section 171.06 of the Codified Ordinances <br />of the City of North Olmsted; and <br />WHEREAS, the Council of the City has reviewed the application of the Company, and <br />has approved and authorized executing an Agreement with the Company providing for real estate <br />tax exemption; and <br /> <br />