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8. Cleveland is an impacted city as defined in R.C. §1728.01(C). NOW, THEREFORE, in consideration of the mutual promises hereinafter set forth, the Parties hereto agree and bind themselves, their agents, employees and successors, as follows: Section 1. Creation of the Municipal Utility District: Name. The Parties, by their combined action evidenced by the signing of this Agreement, hereby create a municipal utility district in accordance with the terms and provisions of this Agreement. The municipal utility district created pursuant to this Agreement shall be known as the "Cleveland —Municipal Utility District" (the "District'. Section 2. Purpose. In accordance with R.C. §715.84, the Parties intend that the creation and operation of the District shall, and it is the purpose of the District to, facilitate new or expanded growth for commercial or economic development for the benefit of their residents and of the State. Section 3. Territory of the District. The territorial boundary of the District shall be the combined total area of the municipal boundaries of the Parties Section 4. Term. Unless earlier terminated in accordance with its terms, or amended by mutual written agreement of the Parties, this Agreement shall be for a term of twenty (20) years commencing on the first day after execution of this Agreement by Cleveland, and shall automatically continue in effect from year to year thereafter. This Agreement may be cancelled by either Party by giving written notice to the other at least five (5) years prior to the effective date of termination, provided that no such notice may be given until fifteen (15) years after the date upon which this Agreement is executed by Cleveland. Section S. Contribution to the District. (a) Cleveland's Contribution. Cleveland's contribution to the District is its agreement to extend the term of water service agreement in accordance with the Restatement of the Water Service Agreement, executed by Cleveland and; the assumption of ownership of the distribution systems; the cleaning, relining, maintenance, repair, and replacement responsibilities related to all infrastructure; and performance of all other covenants of Cleveland stated in this Agreement. (b) Contribution. contribution to the District is its agreement to encourage commercial and industrial development necessary or appropriate to promote economic development within the District; provide appropriate municipal services and public improvements to promote economic development; and perform all other covenants of stated in this Agreement. Section 6. Limitation on the use of Tax Abatements; Allowable Incentives; Uniform training incentives. (a) Real Estate Tax Abatements. The Parties agree that for any business relocating between Cleveland and, there shall be a limit on any new industrial or commercial real estate tax abatement to a term not to exceed 10 years. The abatement shall not exceed 75 percent. (b) Income Tax Abatements. The Parties agree that they shall not provide any income tax abatement to any businesses relocating between Cleveland and. (c) Allowable Incentives. Notwithstanding the provisions of subsections (a) and (b) of this Section 6, the Parties may continue to offer incentives including, but not limited to, the discounted sale of property, low-interest loans, and tax increment financing as provided for in F1