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OLMSTED TOWNSHIP — NORTH OLMSTED JOINT ECONOMIC DEVELOPMENT DISTRICT CONTRACT (TOWN CENTER JEDD) This Olmsted Township — North Olmsted Joint Economic Development District Contract (the "Contract") is made and entered into by and between the City of North Olmsted, Cuyahoga County, Ohio (the "City") and Olmsted Township, Cuyahoga County, Ohio (the "Township"), in accordance with the terms and provisions set forth herein. RECITALS A. The City and the Township intend to enter into this Contract to create and provide for the operation of the Olmsted Township — North Olmsted Joint Economic Development District (the "District") in accordance with Ohio Revised Code ("ORC") Section 715.72. B. The legislative authorities of the City and the Township have each authorized and directed the City and the Township, respectively, to make d enter into this Contract by and through their respective officers in accordance with No. 0-11 , enacted by North Olmsted City Council on m64Y , 2020,, and Resolution No. - adopted by the Board of Trustees of Olmsted Township ("Township Trustees"), on , 2025. NOW THEREFORE, in consideration of the mutual promises and covenants set forth in this Contract, the City and the Township agree and bind themselves, their agents, employees and successors, as follows: Section 1. Creation of District: Name. The City and the Township, by their combined action evidenced by the signing of this Contract, hereby create a joint economic development district, in accordance with the terms and provisions of this Contract, and under the authority of ORC Section 715.72. The joint economic development district created pursuant to this Contract shall be known as the "Olmsted Township — North Olmsted Town Center Joint Economic Development District." The City and the Township agree that at the time of the creation of the District zero business(es) and no electors, as defined by ORC Section 715.72(A)(4),(5), (7), and (E)(l)(b), are operating within or residing in the District. Further, Record Owner(s) exists as defined by ORC Section 715.72(A)(6) for the real estate parcels comprising the District. Section 2. Contracting Parties: The contracting parties to this Contract are the City, a municipal corporation existing and operating under the laws of the State, including the Charter and Ordinances of the City, and the Township, a limited home rule township existing and operating under laws of the State, and their respective successors. This agreement is for the sole benefit of the parties signing this Contract and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other person or entity any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Contract.