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<br /> <br />Section 3.9 Duration of Abatement Program. The Tax Abatement Program shall exist <br />for a period of up to 15 years beginning with real estate taxes payable in 2017 through 2031. On <br />or before February 1 and August 1 of each year commencing August 1, 2017 until the earlier of <br />the date that the Developer shall have received the Reimbursement Amount or February 1, 2032 <br />the City shall pay the Developer the amount of the Tax Abatements received by the City in the <br />previous six month period. The City may terminate the Tax Abatement Program and this <br />Agreement at an earlier date if an Event of Default occurs and the City rescinds or cancels this <br />Agreement. <br />464427v2 JSB EL185-33 <br />