credit enhancement agreement betweenaaa, _________(address) and bbb corporation dated as of _________,_________,_________(m/d/y) .
　　table of contents
　　article i
　　section . definitions
　　section . interpretation and construction
　　section . development program
　　section . completion
　　section . city costs
　　section . agreement controls
　　article ii
　　section . creation of development program fund
　　section . liens
　　section . deposits into development program fund
　　section . monies held in trust
　　article iii
　　section . credit enhancement payments
　　section . failure to make payment
　　section . manner of payments
　　section . obligations unconditional
　　section . limited obligation
　　section . calculation of retained tax increment
　　section . revaluation
　　article iv
　　section . pledge of project cost account
　　section . perfection of interest
　　section . further instruments
　　section . no disposition of developer subaccount
　　section . access to books and records
　　article v
　　section . events of default
　　section . remedies on default
　　section . remedies cumulative
　　. agreement to pay attorneys" fees and expenses
　　section . tax laws
　　article vi
　　section . effective date and term
　　section . cancellation and expiration of term
　　article vii
　　section . consent to pledge and/or assignment
　　section . pledge, assignment or security interest
　　section . assignment
　　article viii
　　section . successors
　　section . parties in interest
　　section . severability
　　section . no personal liability of officials of the city
　　section . counterparts
　　section . governing law
　　section . notices
　　section . amendments
　　section . net agreement
　　section . benefit of assignee or pledges
　　section . integration
　　section . disputes
　　section . arbitration
　　this credit enhancement agreement dated as of _________,_________,_________(m/d/y), between the aaa, _________ (the "city"), a municipal body corporate and politic and a political subdivision of the state of _________, and bbb corporation (the "developer"), a _________(address) corporation with a place of business in bath, _________(address) .
　　witnesseth that
　  whereas, the city designated the bbb municipal development and tax increment financing district #1and the bbb municipal development and tax increment financing district #2(the "districts") pursuant to chapter207of title30-a of the _________(address) revised statutes, as amended, by action of the city council at a city council meeting held on _________,_________,_________(m/d/y) (the "vote") and pursuant to the same vote adopted a development program and financial plan for the districts (the "development program"); and【10】【11】【12】【13】【14】【15】【16】【17】【18】【19】
　　whereas, the _________(address) department of economic and community development has reviewed and accepted the district and the development program effective _________,_________,_________(m/d/y); and
　　whereas, the development program contemplates the execution and delivery of a credit enhancement agreement between the city and the developer; and
　　whereas, the city and the developer desire and intend that this credit enhancement agreement be and constitute the credit enhancement agreement contemplated by and described in the development program;
　　now, therefore, in consideration of the foregoing and in consideration of the mutual promises and covenants set forth herein, the parties hereby agree as follows:
　　article i
　　definitions: interpretations
　　section . definitions. the terms defined in this article i shall, for all purposes of this agreement, have the meanings herein specified, unless the context clearly requires otherwise:
　　"agreement" shall mean this credit enhancement agreement between the city and the developer.
　　"captured assessed value" shall mean the valuation amount by which the then current assessed value of the districts exceeds the original assessed value of the districts.
　　"city" means the aaa, _________(address), a municipality duly organized and existing under the laws of the state of _________(address).
　　"city share" means (a) all of the retained tax increment revenues other than the developer share thereof plus (b) all interest and earnings on all of the retained tax increment revenues, except as provided in section (e) hereof.
　　"developer" means bbb corporation, a _________(address) corporation with a place of business in bath, _________(address).
　　"development program" means the development program for the district as adopted by the bath city council at a meeting held on _________,_________,_________(m/d/y).
　　"development program fund" means the development program fund described in the financial plan section of the development program and established and maintained pursuant to article ii hereof.
　　"developer share" means (a)100% of the real property increment with respect to the land level facility and50% of the real property increment with respect to the existing facility and50% of the personal property increment with respect to the land level facility and50% of the personal property increment with respect to the existing facility, for each of the twenty-five years of the term of this agreement (commencing with the year _________ tax year) of the retained tax increment revenues, provided, however, that such percentages shall be reduced to the following amounts at such time that the aggregate amount of payments by the city to the developer during the term of this agreement and pursuant to this agreement equal $ _________;100% of the real property increment with respect to the land level facility with respect to assessed value equal to the assessed value of land level facility (district #1) real property as of _________,_________,_________(m/d/y);35% of the real property increment with respect to the land level facility with respect to assessed value of real property in excess of the assessed value of land level facility (district #1) real property as of _________,_________,_________(m/d/y);35% of the personal property increment with respect to the land level facility;35% of the real property increment with respect to the existing facility; and35% of the personal property increment with respect to the existing facility.【10】【11】【12】【13】【14】【15】【16】【17】【18】【19】