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The identified project improvement will receive a fifteen (15) year <br />exemption period as pertaining only to the exemption provided on the <br />Facility. The exemption will be in the amount of one hundred percent <br />(100%) of the tax on the Project Cor years one (1) through ten (10) and the <br />seventy-five percent (75%) for years eleven (11) through fifteen (15). The <br />exemption commences the first year for which the real property would first <br />be taxable were that property not exempted from taxation. No exemption <br />shall commence after December 31, 2025 or beyond December 31, 2039. <br />Company must file the appropriate tax forms with the County Auditor to effect and <br />maintain the exemptions covered in the Agreement. Company agrees that it alone has the <br />sole responsibility for filing required forms. Neither the City nor agent or employee thereof <br />shall have any responsibility for taking any actions other than those expressly set forth <br />herein to effect or maintain such exemption. <br />Company shall pay an annual fee equal to the greater of one percent (I%) of the dollar <br />value of incentives offered under the Agreement or Five Hundred Dollars ($500): <br />provided, however, that if the annual value of the incentives exceeds Two I lundred Fifty <br />Thousand Dollars ($250,000.00), the fee shall not exceed Two Thousand Five Hundred <br />Dollars ($2,500.00). <br />Iws��e�.r I <br />