Common use of Reimbursement Process Clause in Contracts

Reimbursement Process. (a) Beginning after the certificate of occupancy has been issued and redevelopment has been substantially completed in accordance with the approved site plan, including substantial compliance with the conditions of site plan approval, the Owner shall submit to the ELBRA a detailed written statement outlining the costs of Eligible Activities undertaken pursuant to the Plan. The lack of substantial compliance with the site plan or conditions of site plan approval shall not be a bar to a petition for reimbursement if it is due to some act beyond the control of Owner. The request for reimbursement shall be in the form reasonably designated by the administrative staff of the ELBRA and consistent with the budget set forth in the Plan (“Approved Budget”). The Petition shall identify the Eligible Activities consistent with the Plan. The Petition shall describe each individual activity claimed as an Eligible Activity and the associated costs of each individual activity. Documentation of the costs incurred shall be included with the Petition, including proof of payment (e.g., canceled checks or lien waivers) and detailed invoices for the costs incurred sufficient to determine whether the cost incurred were for Eligible Activities. The Petition shall be signed by a duly authorized representative of Owner and the representations, facts and documentation included therein shall be sworn to as accurate in the presence of a notary. (b) Petitions shall be reviewed by the ELBRA within a reasonable time or as required under the ▇▇▇▇▇▇▇▇▇▇ Redevelopment Financing Act, but in no event later than 30 days after submission by Owner. Owner shall cooperate in the review by the ELBRA by providing information and documentation to supplement the Petition as reasonably deemed necessary by the ELBRA. The ELBRA shall reimburse those Eligible Expenses set forth in the Approved Budget or identify in writing to Owner any costs deemed ineligible for reimbursement and the basis for the determination. Owner shall be given 45 days in which to provide supplemental information or documents in support of a request for cost reimbursement deemed ineligible by the ELBRA. Any disputes relating to this matter that cannot be resolved within 30 days thereafter shall be submitted to binding arbitration in accordance with the rules of the American Arbitration Association and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof; provided, however, that any request for injunctive relief shall not be submitted to arbitration. (c) After the taxes are captured and collected, the ELBRA shall pay approved costs for Eligible Activities to the Owner from the taxes earmarked in accordance with the Plan and as adopted and amended by the East Lansing City Council to the extent that taxes have been captured and are available in that fiscal year (less ELBRA administrative expenses per the Plan and Section 7 of this agreement) to reimburse approved costs of Eligible Activities. Reimbursement will be made at the next scheduled check processing date according to the schedule established by the City of East Lansing’s Finance Department. (d) In the event there are insufficient funds available from taxes captured from the sources identified herein to fully reimburse the Owner for approved costs at a particular time from taxes captured from the sources identified herein for the Owner, ELBRA’s repayment obligation shall carry forward to the next period in which funds are available and repayment shall be made at that time. In the event sufficient captured taxes are not available during the repayment period to fully reimburse the Owner, repayment shall be made only to the extent captured property taxes are received by ELBRA. (e) The ELBRA shall withhold reimbursement of Tax Increment Revenues if there are any delinquent real property taxes outstanding for the Property regardless of the tax year or if the property falls out of substantial compliance with the approved site plan or any of the conditions of approval of the site plan unless lack of substantial compliance is beyond the control of Owner. Upon payment of all delinquent real property taxes, the ELBRA shall effectuate reimbursement of available Tax Increment Revenues for Eligible Costs provided all other terms under this agreement are met. (f) Reimbursement of Costs of Eligible Activities shall be effectuated: For the Owner, checks shall be made payable to the following: HB BM East Lansing, LLC ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇

Reimbursement Process. (a) Beginning after the certificate of occupancy has been issued and redevelopment has been substantially completed in accordance with the approved site plan, including substantial compliance with the conditions of site plan approval, the Owner Petitioner shall submit to the ELBRA a detailed written statement outlining the costs of Eligible Activities undertaken pursuant to the Plan. The lack of substantial compliance with the site plan or conditions of site plan approval shall not be a bar to a petition for reimbursement if it is due to some act beyond the control of Owner. The request for reimbursement shall be in the form reasonably designated by the administrative staff of the ELBRA and consistent with the budget set forth in the Plan (“Approved Budget”). The Petition shall identify the Eligible Activities consistent with the Plan. The Petition shall describe each individual activity claimed as an Eligible Activity and the associated costs of each individual activity. Documentation of the costs incurred shall be included with the Petition, including proof of payment (e.g., canceled checks or lien waivers) and detailed invoices for the costs incurred sufficient to determine whether the cost incurred were for Eligible Activities. The Petition shall be signed by a duly authorized representative of Owner Petitioner and the representations, facts and documentation included therein shall be sworn to as accurate in the presence of a notary. (b) Petitions shall be reviewed by the ELBRA within a reasonable time or as required under the ▇▇▇▇▇▇▇▇▇▇ Redevelopment Financing Act, but in no event later than 30 days after submission by OwnerPetitioner. Owner Petitioner shall cooperate in the review by the ELBRA by providing information and documentation to supplement the Petition as reasonably deemed necessary by the ELBRA. The ELBRA shall reimburse those Eligible Expenses set forth in the Approved Budget or identify in writing to Owner Petitioner any costs deemed ineligible for reimbursement and the basis for the determination. Owner Petitioner shall be given 45 days in which to provide supplemental information or documents in support of a request for cost reimbursement deemed ineligible by the ELBRA. Any disputes relating to this matter that cannot be resolved within 30 days thereafter shall be submitted to binding arbitration in accordance with the rules of the American Arbitration Association and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof; provided, however, that any request for injunctive relief shall not be submitted to arbitration. (c) After the taxes are captured and collected, the ELBRA shall pay approved costs for Eligible Activities to the Owner Petitioner from the taxes earmarked in accordance with the Plan and as adopted and amended by the East Lansing City Council to the extent that taxes have been captured and are available in that fiscal year (less ELBRA administrative expenses per the Plan and Section 7 of this agreement) to reimburse approved costs of Eligible Activities. Reimbursement will be made at the next scheduled check processing date according to the schedule established by the City of East Lansing’s Finance Department. (d) In the event there are insufficient funds available from taxes captured from the sources identified herein to fully reimburse the Owner Petitioner for approved costs at a particular time from taxes captured from the sources identified herein for the OwnerPetitioner, ELBRA’s repayment obligation shall carry forward to the next period in which funds are available and repayment shall be made at that time. In the event sufficient captured taxes are not available during the repayment period to fully reimburse the OwnerPetitioner, repayment shall be made only to the extent captured property taxes are received by ELBRA. (e) The ELBRA shall withhold reimbursement of Tax Increment Revenues if there are any delinquent real property taxes outstanding for the Property regardless of the tax year or if the property falls out of substantial compliance with the approved site plan or any of the conditions of approval of the site plan unless lack of substantial compliance is beyond the control of Ownerpetitioner. Upon payment of all delinquent real property taxes, the ELBRA shall effectuate reimbursement of available Tax Increment Revenues for Eligible Costs provided all other terms under this agreement are met. (f) Reimbursement of Costs of Eligible Activities shall be effectuated: For the OwnerPetitioner, checks shall be made payable to the following: HB BM United Hospitality Group East Lansing, LLC Att: ▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇ ▇▇ ▇▇▇▇▇

Reimbursement Process. (a) Beginning after the certificate of occupancy has been issued and redevelopment has been substantially completed Subject to any limitation set forth in accordance with the approved site planparagraph 2(b), including substantial compliance with the conditions of site plan approvalon a quarterly or semi-annual basis, the Owner Developer shall submit to the ELBRA a detailed written statement outlining the costs of Authority Requests for Cost Reimbursement for Eligible Activities undertaken pursuant to paid by the PlanDeveloper through the end of the prior period. The lack of substantial compliance with the site plan or conditions of site plan approval shall not be a bar to a petition for reimbursement if it is due to some act beyond the control of Owner. The This request for reimbursement shall be in the form reasonably designated by the administrative staff of the ELBRA and consistent with the budget set forth in the Plan attached hereto as Exhibit D (“Approved BudgetPetition”). All Petitions must be submitted prior to December 31, 2024. The Petition shall identify whether the activities are Eligible Activities consistent with permitted under Section 2(o) of the PlanAct. The Petition shall describe each individual activity claimed as an Eligible Activity and the associated costs of each individual activity. Documentation of the costs incurred shall be included with the Petition, Petition including proof of payment (e.g., canceled checks or lien waivers) and detailed invoices for the costs incurred sufficient to determine whether the cost costs incurred were for Eligible Activities. The Petition shall be signed by a duly authorized representative of Owner Developer and the representations, facts facts, and documentation included therein shall be sworn to as accurate in the presence of a notary. In the event the Eligible Activities and Costs for which the Developer seeks reimbursement have been rendered by a related party or entity, the Authority and the City may request documentation to substantiate the reasonableness of such costs prior to reimbursement. (b) Petitions shall be reviewed by the ELBRA Authority within a reasonable time or as required under the ▇▇▇▇▇▇▇▇▇▇ Redevelopment Financing Act, but in no event later than 30 days after submission receipt of the Petition by Ownerthe City. Owner The Developer shall cooperate in the review by the ELBRA Authority by providing information and documentation to supplement the Petition as reasonably deemed reasonable and necessary by the ELBRAAuthority. The ELBRA Authority shall reimburse those Eligible Expenses set forth in the Approved Budget or identify in writing to Owner Developer any costs deemed ineligible for reimbursement and the basis for the determination. Owner Developer shall be given 45 days in which to provide supplemental information or documents in support of a request for cost reimbursement deemed ineligible by the ELBRAAuthority. Any disputes relating Thereafter, except as otherwise agreed to this matter that cannot be resolved within 30 days thereafter in writing by Developer and Authority, the Authority shall make a final decision on the eligibility of the disputed cost and inform the Developer of its determination, which decision shall be submitted to binding arbitration in accordance with the rules of the American Arbitration Association and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof; provided, however, that any request for injunctive relief shall not be submitted to arbitrationupon Developer. (c) After Reimbursement for the cost of Department Specific Activities and site preparation shall be limited to the lesser of: (i) a prorated share (determined based upon the City’s proportionate share of the total millage) of the budgeted Department Specific Activities and site preparation costs as outlined in the Act 381 work plan; or (ii) a prorated share (determined based upon the City’s proportionate share of the total millage) of those Department Specific Activities and site preparation costs that are actually incurred. Reimbursement for other costs for Eligible Activities will be limited to the lesser of (i) 75% of the amount budgeted for such other costs as outlined in the Act 381 work plan; or (ii) $1,860,672.00. (d) Twice a year, after the summer and winter taxes are captured and collectedcollected on the Property, the ELBRA Authority shall pay approved costs for Eligible Activities to the Owner Developer from the taxes earmarked captured in accordance with the Plan and as adopted and amended by the East Lansing City Council Paragraph 5 of this Agreement to the extent that taxes have been captured and are available in that fiscal year (less ELBRA administrative Authority’s operating out-of- pocket expenses per to review the Plan and Section 7 of this agreementPetition) to reimburse approved costs of Eligible Activities. Reimbursement will No reimbursement shall be made at paid to Developer if the next scheduled check processing date according Developer is delinquent in the payment of real or personal property taxes on the property. Payments to the schedule established Developer shall be suspended if Developer files a property tax appeal with the Michigan Tax Tribunal regarding the valuation of the real or personal property assessment on the Property during the term of the tax appeal. Payments shall resume after a decision is issued by the City of East Lansing’s Finance DepartmentMichigan Tax Tribunal. The Developer and shall not be reimbursed for any Eligible Costs and Activities incurred after any deadline set forth in paragraph 2(b) is missed. (de) In the event If there are insufficient no funds available from taxes captured from the sources identified herein to fully reimburse the Owner for approved costs at a particular time from taxes captured from the sources identified in Paragraph 5 herein for the OwnerDeveloper, ELBRA’s then there is no repayment obligation shall carry forward to the next period in which funds are available Developer and no repayment shall be made at that time. In the event sufficient captured taxes are not available during the repayment period to fully reimburse the Owner, repayment shall be made only to the extent captured property taxes are received by ELBRA. (e) The ELBRA shall withhold reimbursement of Tax Increment Revenues if there are any delinquent real property taxes outstanding for the Property regardless of the tax year or if the property falls out of substantial compliance with the approved site plan or any of the conditions of approval of the site plan unless lack of substantial compliance is beyond the control of Owner. Upon payment of all delinquent real property taxes, the ELBRA shall effectuate reimbursement of available Tax Increment Revenues for Eligible Costs provided all other terms under this agreement are metmade. (f) Reimbursement of Costs of Eligible Activities shall be effectuatedeffectuated to Developer with: For the Owner, checks Checks shall be made payable to: S J R Land Development, LLC. Delivered to the followingfollowing address: HB BM East Lansing, LLC ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇ By mail

Reimbursement Process. (a) Beginning after the certificate Letter of occupancy Approval has been issued and redevelopment has been substantially completed in accordance with the approved site plan, including substantial compliance with the conditions of site plan approvalapproval for Building A and Building D and the Infrastructure Improvements, the Owner shall submit to the ELBRA a detailed written statement outlining the costs of Eligible Activities undertaken pursuant to the Plan. The lack of substantial compliance with the site plan or conditions of site plan approval shall not be a bar to a petition for reimbursement if it is due to some act beyond the control of OwnerPlan (“Petition”). The request for reimbursement shall be in the form reasonably designated by the administrative staff of the ELBRA and consistent with the budget set forth in the Plan (“Approved Budget”). The Petition shall identify the Eligible Activities for Buildings A, D, and the Infrastructure Improvements consistent with the Plan. The Petition shall describe each individual activity claimed as an Eligible Activity and the associated costs of each individual activity. Documentation of the costs incurred shall be included with the Petition, including proof of payment (e.g., canceled checks or lien waivers) and detailed invoices for the costs incurred sufficient to determine whether the cost incurred were for Eligible Activities. The Petition shall be signed by a duly authorized representative of Owner Owner, and the representations, facts and documentation included therein shall be sworn to as accurate in the presence of a notary. (b) Petitions The Petition shall be reviewed by the ELBRA within a reasonable time or as required under the ▇▇▇▇▇▇▇▇▇▇ Redevelopment Financing Act, but in no event later than 30 days after submission by Owner. Owner and the DDA shall cooperate in the review by the ELBRA by providing information and documentation to supplement the Petition as reasonably deemed necessary by the ELBRA. The ELBRA shall reimburse those Eligible Expenses set forth in the Approved Budget in accordance with paragraph (c) below or identify in writing to Owner and/or the DDA any costs deemed ineligible for reimbursement and the basis for the determination. Owner and/or the DDA shall be given 45 days in which to provide supplemental information or documents in support of a request for cost reimbursement deemed ineligible by the ELBRA. Any disputes relating to this matter that cannot be resolved within 30 days thereafter shall be submitted to binding arbitration in accordance with the rules of the American Arbitration Association and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof; provided, however, that any request for injunctive relief shall not be submitted to arbitration. (c) After the taxes are captured and collected, the ELBRA shall pay approved costs for Eligible Activities to the Owner from the taxes earmarked in accordance with the Plan and as adopted and amended by the East Lansing City Council to the extent that taxes have been captured and are available in that fiscal year (less ELBRA administrative expenses per the Plan and Section 7 of this agreement, and less DDA capture retention as outlined in Schedule 3 of the Interlocal Agreement) to reimburse approved costs of Eligible Activities. Reimbursement will be made at the next scheduled check processing date according to the schedule established by the City of East Lansing’s Finance Department. (d) In the event there are insufficient funds available from taxes captured from the sources identified herein to fully reimburse the Owner for approved costs at a particular time from taxes captured from the sources identified herein for the Owner, ELBRA▇▇▇▇▇’s repayment obligation shall carry forward to the next period in which funds are available and repayment shall be made at that time. In the event sufficient captured taxes are not available during the repayment period to fully reimburse the Owner, repayment shall be made only to the extent captured property taxes are received by ELBRA▇▇▇▇▇. (e) The ELBRA shall withhold reimbursement of Tax Increment Revenues if there are any delinquent real property taxes outstanding for the Property regardless of the tax year or if the property falls out of substantial compliance with the approved site plan or any of the conditions of approval of the site plan unless lack of substantial compliance is beyond the control of Owner. Upon payment of all delinquent real property taxes, the ELBRA shall effectuate reimbursement of available Tax Increment Revenues for Eligible Costs provided all other terms under this agreement are met. (f) Reimbursement of Costs of Eligible Activities shall be effectuated: For the Owner, checks shall be made payable to the following: HB BM East Lansing, 100 Grand River LLC Att’n: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇

Reimbursement Process. (a) Beginning after the certificate of occupancy has been issued and redevelopment has been substantially completed Subject to any limitation set forth in accordance with the approved site planparagraph 2(b), including substantial compliance with the conditions of site plan approvalon a quarterly basis, the Owner Developer shall submit to the ELBRA a detailed written statement outlining the costs of Authority Requests for Cost Reimbursement for Eligible Activities undertaken pursuant to paid by the PlanDeveloper through the end of the prior period. The lack of substantial compliance with the site plan or conditions of site plan approval shall not be a bar to a petition for reimbursement if it is due to some act beyond the control of Owner. The This request for reimbursement shall be in the form reasonably designated by the administrative staff of the ELBRA and consistent with the budget set forth in the Plan attached hereto as Exhibit D (“Approved BudgetPetition”). The Petition shall identify whether the Eligible Activities consistent with are: (1) Baseline Environmental Assessment Activities; (2) Due Care Activities; (3) Additional Response Activities; or (4) Eligible Activities permitted under Section 2(l)(iv) of the PlanAct. The Petition shall describe each individual activity claimed as an Eligible Activity and the associated costs of each individual activity. Documentation of the costs incurred shall be included with the Petition, Petition including proof of payment (e.g., canceled checks or lien waivers) and detailed invoices for the costs incurred sufficient to determine whether the cost costs incurred were for Eligible Activities. The Petition shall be signed by a duly authorized representative of Owner Developer and the representations, facts facts, and documentation included therein shall be sworn to as accurate in the presence of a notary. In the event the Eligible Activities and Costs for which the Developer seeks reimbursement have been rendered by a related party or entity, the Authority and the City may request documentation to substantiate the reasonableness of such costs prior to reimbursement. (b) Petitions shall be reviewed by the ELBRA Authority within a reasonable time or as required under the ▇▇▇▇▇▇▇▇▇▇ Redevelopment Financing Act, but in no event later than 30 days after submission receipt of the Petition by Ownerthe City. Owner The Developer shall cooperate in the review by the ELBRA Authority by providing information and documentation to supplement the Petition as reasonably deemed reasonable and necessary by the ELBRAAuthority. The ELBRA Authority shall reimburse those Eligible Expenses set forth in the Approved Budget or identify in writing to Owner Developer any costs deemed ineligible for reimbursement and the basis for the determination. Owner Developer shall be given 45 days in which to provide supplemental information or documents in support of a request for cost reimbursement deemed ineligible by the ELBRAAuthority. Any disputes relating Thereafter, except as otherwise agreed to this matter that cannot be resolved within 30 days thereafter in writing by Developer and Authority, the Authority shall make a final decision on the eligibility of the disputed cost and inform the Developer in writing of its determination, which decision shall be submitted to binding arbitration in accordance with the rules of the American Arbitration Association and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof; provided, however, that any request for injunctive relief shall not be submitted to arbitrationupon Developer. (c) After Twice a year, after the summer and winter taxes are captured and collectedcollected on the Property, the ELBRA Authority shall pay approved costs for Eligible Activities to the Owner Developer from the taxes earmarked captured in accordance with the Plan and as adopted and amended by the East Lansing City Council Paragraph 5 of this Agreement to the extent that taxes have been captured and are available in that fiscal year (less ELBRA administrative Authority’s operating out-of- pocket expenses per to review the Plan and Section 7 of this agreementPetition) to reimburse approved costs of Eligible Activities. Reimbursement will No reimbursement shall be paid if the Developer or any tenant of Developer is delinquent in the payment of real or personal property taxes on the property. No payment to the Developer shall be made at if Developer files a property tax appeal with the next scheduled check processing date according to Michigan Tax Tribunal regarding the schedule established by valuation of the City real or personal property assessment on the Property during the term of East Lansing’s Finance Departmentthe tax appeal. The Developer shall not be reimbursed for any Eligible Costs and Activities incurred after any deadline set forth in paragraph 2(b) is missed. (d) In Subject to paragraph 2(b), interest shall accrue on the event balance of the Developer’s Eligible Costs at the rate under the Authority’s policy on interest in effect as of the date of this Agreement, computed annually, provided interest at such rate is also approved by the Michigan Strategic Fund. Interest shall begin to accrue on the date that Eligible Costs are approved by the Authority. Interest shall not accrue on any unreimbursed Eligible Costs during any period that the Developer has real and personal property taxes on the Developer’s Property remaining unpaid after their due date. Interest shall not accrue during any period for which the Developer has filed a property tax appeal with the Michigan Tax Tribunal regarding the valuation of the real or personal property assessment. (e) If there are insufficient no funds available from taxes captured from the sources identified herein to fully reimburse the Owner for approved costs at a particular time from taxes captured from the sources identified in Paragraph 5 herein for the OwnerDeveloper, ELBRA’s then there is no repayment obligation shall carry forward to the next period in which funds are available Developer and no repayment shall be made at that time. In the event sufficient captured taxes are not available during the repayment period to fully reimburse the Owner, repayment shall be made only to the extent captured property taxes are received by ELBRA. (e) The ELBRA shall withhold reimbursement of Tax Increment Revenues if there are any delinquent real property taxes outstanding for the Property regardless of the tax year or if the property falls out of substantial compliance with the approved site plan or any of the conditions of approval of the site plan unless lack of substantial compliance is beyond the control of Owner. Upon payment of all delinquent real property taxes, the ELBRA shall effectuate reimbursement of available Tax Increment Revenues for Eligible Costs provided all other terms under this agreement are metmade. (f) Reimbursement of Costs of Eligible Activities shall be effectuatedeffectuated to Developer with: For the Owner, checks Checks shall be made payable to: Uptown Development, LLC Delivered to the followingfollowing address: HB BM East Lansing, LLC ▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇. ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇▇ By certified mail.