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• 3. Terms of Abatement. The Abatement is hereby approved; provided, however, the <br /> this approval is contingent upon the approval by Sherburne County of an <br /> abatement program for the Project upon the same terms as set forth below for the <br /> County's share of property tax amount which the County receives from the <br /> Property. The terms of the Abatement are as follows: <br /> (a) The Abatement shall be for up to twelve (12) years and shall apply to the <br /> taxes payable in the years 2006 through 2017, inclusive. <br /> (b) The City will abate 100% of the City's share of property tax amount which <br /> the City receives from the Property, not to exceed $100,760. <br /> (c) The Abatement shall be subject to all the terms and limitations of the <br /> Abatement Law. <br /> (d) The Abatement may not be modified or changed during its term. <br /> The motion for the adoption of the foregoing resolution was made by member <br /> and duly seconded by member and, upon a vote being <br /> taken thereon after full discussion thereof, the following voted in favor thereof: <br /> and the following voted against the same: <br /> • Whereupon said resolution was declared duly passed and adopted. <br /> 1623868v1 2 <br />