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Eighth:'I his Plan provides that the participating political subdivision that has approved (i) <br />the addition to the lerrilon of the Advanced Energy District and (ii) the Authorized <br />Improvements to be constructed on the applicable property in the District has done so on <br />behalf of the other participating political subdivisions in the Advanced Energy District. <br />The participating political subdivision where your property within the District is located <br />will be the initial owner of the Authorized Improvements. However, the Advanced Energy <br />District, acting m agent for and on behalf of this participating political subdivision may <br />transfer title to the Authorized Improvements to any taxpayer, including you as the property <br />owner, who may then apply for and receive federal and state grants and other rax benefits <br />associated with the ownership of the Authorized Improvements, including accelerated <br />depreciation. The property owner should consult its own tax advisor as to the merits of <br />owning the Authorized Improvements. <br />Ninth: As a property owner within the Advanced Energy District, you will he expected to <br />make special assessment payments in amounts and at the times as specified in the <br />Advanced Energy District Documents. <br />Submission and approval of a real property and company information verification <br />form or a Petition does not guarantee that you will receive financing or funding under the <br />Commercial -Industrial Program. The ability to proceed with financing or funding will be <br />dependent on the sale of special assessment revenue bonds or other obligations secured by <br />Special Assessments to pay costs of the Authorized Improvements under the Commercial - <br />Industrial Program. The sale of special assessment revenue bonds or other obligations will <br />depend on a number of factors including the number of and size of the Authorized <br />Improvements and market conditions. <br />If you proceed to incur costs with Authorized Improvements prior to executing an <br />Assessment Schedule, you risk incurring casts which may not be able to be financed as part <br />of the Advanced Energy District's Commercial -Industrial Program. In addition, <br />disbursement of proceeds of special assessment revenue bonds or other obligations must be <br />accomplished in accordance with the trust indenture and other documents securing the <br />special assessment revenue bonds as well as the terms and conditions of the Advanced Energy <br />District Documents. <br />Special .Assessments. You, as a property owner must pay any special assessments <br />levied against your property and certified for collection once an Assessment Schedule has <br />been executed regardless of personal financial circumstances, the condition of the property, <br />at the performance of the Authorized Improvements. Do not apply for financing if you are <br />not certain you can pay the special assessments. Just as with any property -based debt such <br />as a mortgage, the failure to pay your special assessments — in full or in part — will result <br />in financial repercussions, including penalties, interest and, eventually, foreclosure of your <br />property by Cuyahoga County. <br />If, ou use an escrow account to pay your semi-annual property taxes, you must noli fy your <br />escrow company of your special assessment payments. You will need to increase your monthly <br />