97-19 AUTHORIZING REDEVELOPMENT AGREEMENT Southeast Plaza

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. � I � ' 1 . Y � r I � • r � ~ ' ' ' ' EXHIBIT 4 . , � . , NOTE CITY OF DECATUR MACON COUNTY, ILLINOIS SPECIAL TAX INCREMENT REVENUE NOTE (NOTE NO._) City of Decatur Taz Increment Financing District No. "Southeast Plaza Co��nerciaV Residential Project" $ , 199_ WHEREAS,the City of Decatur, an Illinois Municipal Corporation(the"City") adopted a Tax Increment Redevelopment Plan and a Redevelopment Project and designated a Redevelopment Project Area in accordance with the T�Increment Allocation Redevelopment Act 5/11-74.4-1 et se . (the"AcY'); and WHEREAS,the CITY adopted a tax increment allocation financing program in accordance with the provisions of the Act to pay for Redevelopment Project Costs (as defined in the Act) incuned in cairying out the Redevelopment Plan and Redevelopment Project for " ,,, and WHEREAS,the CITY and Airport Plaza Joint Venture("PAYEE") have entered into a certain Redevelopment Agreement dated March , 1997 (the"Redevelopment Agreement"); and WHEREAS, pursuant to the Redevelopment Agreement, the CITY has agreed to reimburse PAYEE for Redevelopment Project Costs incuned in connection with or as a result of the redevelopment of certain portions of the Redevelopment Project Area; NOW, THEREFORE, 'THE CITY MAYOR AND CITY COUNCIL OF THE CITY OF DECATUR, MACON COUNTY, II,LINOIS, COVENANT AND AGREE AS FOLLOWS: 1. Recitals/Definition of Terms. The foregoing recitals are incorporated into this Note as if restated in their entirety. All initially capitalized terms, unless otherwise provided herein or otherwise defined herein, shall have the meanings given them in the Redevelopment Agreement. Specifically, but without limitation, the term"Tax Increment", as used in this Note, sha11 have the meaning ascribed to it in the Redevelopment Agreement.