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<br />abatement amounts paid by the County to the Developer which the Developer hereby agrees to <br />pay to the City, to the principal amount of the Purchase Price Note in an aggregate amount equal <br />to $1,288,589.00. After the Release Date, as defined in the Mortgage, the City shall continue to <br />retain the Tax Abatements and the Developer shall continue to remit to the City property tax <br />abatement amounts paid by the County to the Developer to pay in full any remaining unpaid <br />balance of the Purchase Price of the Tax Abatement Property. The City may terminate the Tax <br />Abatement Program and this Agreement at an earlier date if an Event of Default occurs and the <br />City rescinds or cancels this Agreement. <br />7 <br />459599v5 JSB EL185-31 <br />