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2695614v62 <br />1412/297/10 <br />ARTICLE XI <br />REAL ESTATE TAX PAYMENTS AND ASSESSMENT AGREEMENT <br />Section 11.1 Real Property Taxes. <br />Developer agrees that prior to December 31, 2038: <br />(a) It will not seek administrative review <br />or judicial review of the applicability of any tax statute <br />relating to the taxation of all or any portion of the <br />Development Property determined by any tax official to <br />be applicable to the Development Property or Developer <br />or raise the inapplicability of any such tax statute as a <br />defense in any proceedings, including delinquent tax <br />proceedings; provided, however, "tax statute" does not <br />include any local ordinance or resolution levying a tax; <br />(b) It will not seek administrative review <br />or judicial review of the constitutionality of any tax <br />statute relating to the taxation of all or any portion of the <br />Development Property determined by any tax official to <br />be applicable to the Development Property or Developer <br />or raise the unconstitutionality of any such tax statute as <br />a defense in any proceedings, including delinquent tax <br />proceedings; provided, however, "tax statute" does not <br />include any local ordinance or resolution levying a tax; <br />(c) It will not seek any tax deferral or <br />abatement, either presently or prospectively authorized <br />under any other State or federal law, of the taxation of <br />all or any portion of the Development Property; <br />(d) It will not ask the County Assessor <br />for or commence or participate in any legal or <br />administrative process seeking a reduction in the <br />assessed value of the Development Property for <br />purposes of the ad valorum real estate taxes except that <br />if, in any given year, the assessed value exceeds the <br />assessed value set forth for that year in the Assessment <br />Agreement, Developer may seek a reduction in the <br />assessed value of the Development Property to any <br />amount equal to or greater than the assessed value set <br />forth for that year in the Assessment Agreement. If <br />Developer seeks a reduction in the assessed value of the <br />Development Property to any amount equal to or greater <br />than the assessed value set forth for that year in the <br />Assessment Agreement, Developer must first provide <br />18 <br />