West Orange Fourth Round HEFSP_adopted 111025_Appendices

EXHIBIT G PILOT AND RAB Term of PILOT: LTTE PILOT Calculation: The lesser of 35 years from execution of the Financial Agreement or 30 Years from Substantial Completion In consideration of the exemption from taxation for the Improvements and Land, during the Exemption Term, the Entity shall pay to the Township an Annual Service Charge calculated as the greater of the AGR Calculation, the TOD Calculation or the Unpledged Annual Service Charge as follows: (a) The AGR Calculation (the “AGR Calculation”) for any given year shall be calculated as follows: i. Stage One: From the Annual Service Charge Start Date until the tenth (10th) anniversary of the Annual Service Charge Start Date, the AGR Calculation shall be 10.5% of AGR; ii. Stage Two: From the first day after the tenth (10th) anniversary of the Annual Service Charge Start Date until the twentieth (20th) anniversary of the Annual Service Charge Start Date, the AGR Calculation shall be 11.5% of AGR; iii. Stage Three: From the first day after the twentieth (20th) anniversary of the Annual Service Charge Start Date until the thirtieth (30th) anniversary of the Annual Service Charge Start Date, the AGR Calculation shall be 12.5% of AGR. (b) The TOD Calculation (the “TOD Calculation”) for any given year shall be calculated as follows: i. Stage One: From the Annual Service Charge Start Date until the fifteenth (15th) anniversary of the Annual Service Charge Start Date, the TOD Calculation shall be 0% of the amount of the taxes otherwise due on the value of the Property and the Improvements; ii. Stage Two: From the first day after the fifteenth (15th) anniversary of the Annual Service Charge Start Date until the twentieth (20th) anniversary of the Annual Service Charge Start Date, the TOD Calculation shall be 20% of the amount of the taxes otherwise due on the value of the Property and the Improvements; iii. Stage Three: From the first day after the twentieth (20th) anniversary of the Annual Service Charge Start Date until the 4839-2360-2911, v. 3