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Phase 2 and 3: Assessed Valuation of the real property improvements and the new personal property associated with the investment for the applicable Project Phase X 0.0063 X 85% each year for four years following Company's request for incentive payments during which Company pays ad valorem property taxes on the Project. The number 0.0063 set forth above is the County's current ad valorem tax rate. This number will vary based on the applicable year in which each Grant is to be paid. C. County will provide the EDI Grants in a cumulative amount not to exceed $1,229,508.00 as shown on Exhibit B (such amounts for each year being referred to herein as the "Maximum Annual Grant" for such year and the cumulative amount of the Maximum Annual Grant shown on Exhibit B being referred to herein as the "Maximum Total Grants"); provided, however, that: (1) The amount of the Annual EDI Grant for any year shall be subject to reduction as described below; (2) The cumulative amount of the Annual EDI Grants paid to the Company shall not exceed the Maximum Total Grant of $1,229,508.00; (3) The Certificate of Compliance must have been issued for the Project by the City and the Company must have commenced operations at the Facility. (4) The Certificate of Occupancy must have been issued for the Project by the County and the Company must have commenced operations at the Facility. D. The County will pay. Grants to Company in each of the first four years in which Company pays taxes- for personal property located at the Facility, provided that the provisions of Section III have been met and that Company has requested such grant payment in writing. -The County and Company each are entitled to receive from one another such records' related to the Facility as each may reasonably request. E. Within 30 days of the date that the County Tax Assessor has issued its statement verifying the Company's data submitted incident to its request for a Grant payment, the County shall pay the annual EDI Grant to the Company. The real and personal property valuations made by the County Tax Assessor are deemed by both parties to be the conclusive and fmal determination of the investments made by the Company. The County shall make the EDI Grant Payments in subsequent years on or near the anniversary date of the first Annual EDI Grant Payment, provided that Company has met all of the requirements for each successive year. F. Under no circumstances shall the County make any EDI Grant Payments in an amount greater than the total amount of additional County taxes due to the investments listed in Table 1 paid by the Company as of the date on which EDI Grants are paid. Also, the payment of Grants in years 2, 3 and 4 for each Phase G-2 Pag~age°3~~