R2015-139 RECEIVING AND FILING PROPOSED REDEVELOPMENT AGREEMENT Firstech, Inc.

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2.14 Lien Waivers. All contracts for construction of the Project shall provide that all contractors and subcontractors shall furnish contractor's affidavits in the form provided by state statute and that waiver of liens be required for all payments made. 2.15 Rights of Inspection. During construction of the Project, the City or its designee shall have the right at any time and from time to time to enter upon the Project for the purposes of inspection. Inspection by the City of the Project shall not be construed as a representation by the City that there has been compliance with the Construction Plans or any building or life safety codes adopted by the City; or that the Project will be or is free of faulty materials or workmanship, ar a waiver of any right the City or any other party may have against the Redeveloper or any other party for noncompliance with the Construction Plans, Preliminary Plans, building or life safety codes or any other ordinances of the City or the terms of this Agreement. ARTICLE III: CITY OBLIGATIONS 3.1 Public Investment. The City shall provide the Public Investment pursuant to Article IV below. 3.2 Easements. The City agrees to grant such temporary easements to the Redeveloper as necessary for the construction and completion of the Project. ARTICLE IV: PUBLIC INVESTMENT 4.1 Public Investment. The City will provide a reimbursement for Project Costs to be paid from Real Estate Tax Increment for each calendar year received by the City from the Project and the Project Site as set forth below. The Real Estate Tax Increment shall be utilized to reimburse the Redeveloper for those Eligible Project Costs that are set forth in Section 3 of the Act which are more fully described on EXHIBIT 3 attached hereto and made a part hereof: (a) Subject to reimbursement of Eligible Project Costs, commencing in the year following the year in which substantial completion of the project has occurred, and ' continuing for the next seven (7) years, the Redeveloper shall receive no later than '�i October 15 of each year,an amount equal to 0,20,40,60, 80, 100,and 100 Percent of the Real Estate Tax Increment for the previous calendar year actually received by the City. I Provided however,that if there is a partial year assessment, the Redeveloper may elect to have said abatement/rebate commence the year following the year of the partial assessment. (b) In the event Decatur/Macon County Enterprise Zone #39 is not extended by the State of Illinois, Redeveloper shall be entitled to One Hundred Percent (100%) of the Real Estate Tax increment. (c) Notwithstanding anything else contained in this Agreement,the obligation for the annual reimbursement of Eligible Project Costs from Real Estate Tax Increment shall terminate on the earlier of: (i) seven (7) years after the commencement of such abatement/rebate or(ii)May 15,2023. CITY OF DECATUR/FirsTech Red.Agreement 7